India International Bullion Exchange (IIBX), IFSC Limited, recently offered the following contracts: 1: silver Grains T+0, 2: UAE-GD silver Grains T+0, and 3: UAE-GD CEPA silver Grains T+0. Contract specifications for silver grains T+0 must be settled in BDR form, and delivery must be made in BDR form in the depository’s demat account.
In terms of quality specifications, IIBX stated that the grade will be 999 and the fineness will be 999 (as per IS 2112: 1981).
Every bag must be securely closed. The seal must include an identifying number, the Accredited Member’s name, and/or a hallmark/brand stamp, as well as the exact total weight of the silver grains included, and it must be supplied by LBMA-certified suppliers or other providers approved by IIBX.
UAE-GD silver grains T+0 of 999 and Fineness: 999 (as per IS 2112: 1981), and all other specifications will be the same as Silver Grains T+0, but the silver grains contained and supplied by UAE Good Delivery (UAE-GD) approved suppliers or other suppliers as approved by IIBX. As a Country of Origin, a Certificate of Origin issued by appropriate authorities in the UAE must be submitted.
UAE-GD CEPA Contract Specifications It contains silver grains and must be provided by UAE Good Delivery (UAE-GD) approved vendors or other providers as allowed by IIBX. These Silver Grains must be provided with a quality certificate from the supplier. In terms of Country of Origin, the Qualified Supplier (First Importer in India) must show a Certificate of Origin issued by the UAE Ministry of Economy before depositing Silver Grains in the vaults.