Paymaster Services for Gold & Precious Metals
In gold, diamond and other precious metal transactions, the buyer wants proof of delivery before paying and the seller wants proof the money exists. An attorney paymaster holds the funds in trust so both sides can move forward.
Holding funds until conditions are met
Your agreement can tie the release of funds to specific events, such as delivery to a named vault, an assay report, or customs clearance. We hold the money in our client trust account and release it only when the written conditions are satisfied, then pay the seller and each intermediary.
Typical transactions
- Gold bars, dore and bullion purchases
- Diamond and gemstone sales
- Silver, platinum and other precious metals
- Broker and facilitator commissions on any of the above
Due diligence matters
Precious metal deals are a frequent target for fraud. Prices far below market, documents that the issuing bank or refinery will not confirm, and pressure to pay upfront fees are all warning signs. We require identification from every party, and we do not release funds against documents that do not match the contract.
See our article on red flags in commodity deals.
Fees
Fees quoted per transaction. Please contact Bahram Madaen directly by phone or email for a price. Every fee is confirmed in a written fee agreement before any funds are received.
Documents to prepare
- Contract: a copy of the contract, agreement or written instructions for how the money is to be paid out.
- Paymaster fee agreement: we send this to you after our first conversation.
- Identification: a driver's license or passport for each individual involved.
- Company records: for each business, its formation documents and the names of its owners and authorized signers.
- Tax forms: IRS Form W-9 for U.S. citizens, residents and companies; IRS Form W-8BEN (or W-8BEN-E for entities) for everyone else.
- Bank details for every beneficiary, in the beneficiary's own legal name.
We receive and send funds by bank wire only. We do not accept cash, checks or money orders.
Talk to the attorney before you sign
Call or email Bahram Madaen directly for a price quote and to confirm a paymaster arrangement fits your deal.
Call (714) 782-7275 Email attorneymadaen@gmail.com Use the contact form