Paymaster Services for Gold & Precious Metals

Release tied to documents

The agreement can tie release to specific documents, such as a vault receipt, assay report or customs record. The firm does not inspect, test or value metals or stones; it relies on the documents the agreement names.

How it works

1. Call or write to the attorney. Describe the transaction. Bahram Madaen confirms whether the firm can help and quotes the fee.
2. Open your secure client account. Register, confirm your email and turn on two-step sign in.
3. Complete the Client Information Sheet. The online Know Your Client questionnaire, plus identification and tax forms uploaded in the portal.
4. Sign the Paymaster Agreement online. The written agreement sets out who pays, who is paid and when.
5. Funds received and paid. After wire instructions are confirmed by telephone, funds arrive in the client trust account and are paid out by wire according to the signed instructions.

Due diligence

Precious metals deals are a frequent target of fraud. Prices far below market, documents the issuing refinery or bank will not confirm, and pressure to pay upfront fees are warning signs. Read red flags in commodity deals.

What the firm does not do

The firm's role is limited and is set out in the written agreement. The firm:

• does not guarantee that any transaction will close or that any party will perform;
• does not inspect, value or certify goods, commodities or digital assets;
• does not operate as an escrow company, bank, money transmitter or currency exchange;
• does not buy, sell, hold or transfer cryptocurrency for clients;
• does not give investment advice.

Compliance on every engagement

Federal law requires the firm and its bank to know who is sending and receiving funds. On every engagement the firm:

• verifies the identity of each individual and the owners and controlling persons of each company;
• collects IRS Form W-9 or W-8BEN / W-8BEN-E;
• screens all parties against U.S. Treasury (OFAC) sanctions lists;
• asks about the source of funds and the purpose of the transaction;
• declines or ends any engagement where documents do not match, a party will not identify itself, or the facts suggest fraud or another unlawful purpose.