Recently, India International Bullion Exchange (IIBX), IFSC Limited, introduced, 1: silver Grains T+0, 2: UAE-GD silver Grains T+0 and 3: UAE-GD CEPA silver Grains T+0 Contracts. Contract Specifications of Silver Grains T+0, to be settle compulsory in BDR form and delivery should be Compulsory in BDR form in the Demat account with the depository.
Talking about Quality Specifications, IIBX said, Grade will be of 999 and Fineness: 999 (as per IS 2112: 1981).
Every bag must be sealed. The seal must carry an identifying number, the Accredited Member’s name, and/or hallmark/brand stamp and the exact total weight of the silver grains contained and it must be supplied by LBMA approved suppliers or other suppliers as may be approved by IIBX.
UAE-GD silver Grains T+0 of 999 and Fineness: 999 (as per IS 2112: 1981) and all those rest specification will be the same as Silver Grains T+0 yet, the silver grains contained and it must be supplied by UAE Good Delivery (UAE-GD) approved suppliers or other suppliers as may be approved by IIBX. A Certificate of Origin issued by concerned authorities in UAE must be produced as a Country of Origin.
Contract Specifications of UAE-GD CEPA Silver Grains contained and it must be supplied by UAE Good Delivery (UAE-GD) approved suppliers or other suppliers as may be approved by IIBX. These Silver Grains are to be submitted along with supplier’s quality certificate. At the Country of Origin front, while depositing Silver Grains in the vaults, the Qualified Supplier (First Importer in India) must produce a Certificate of Origin issued by the Ministry of Economy in UAE.
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