Buy Gold in Uganda: How to complete a clean gold transaction in Uganda

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Are you buying or intending to buy gold in Uganda? To avoid scams and losing millions of dollars, effective due diligence inquiry is required before transferring money in a gold buying transaction. 

Preliminary investigation will help you determine whether you are dealing with a legitimate gold dealer licensed to trade gold in Uganda, whether the shipping agent has the necessary licenses, and whether the relevant documents, licenses, and certificates involved in the transactions are genuine or authentic, among other things.

 The majority of buyers seek legal assistance after being duped and losing huge quantities of money. To avoid getting scammed, it is highly essential that you conduct due diligence. The legislation in Uganda regulates dealing with minerals like gold and a purchaser will be caught by the common law rule of "buyer beware." 

Going forward therefore, a buyer should investigate first using publicly available information and should as well ask the seller to fully disclose material information in the sellers possession or known to the seller at the time of the transaction.

 A prospective buyer should investigate the particulars of the seller; whether the seller is a legal person and has the requisite licenses and certificates among others. The services of a lawyer experienced in such transaction is very important before any payment is exchanged. A buyer should have a gold purchase agreement which clearly describes the parties, the shipping agents if any, the obligations of the seller; the time lines for delivery; recovery of purchase price in case of failure to deliver among others.

 Given that the transaction obviously involve huge sums of money, it is always imperative for a buyer to seek experienced and reliable legal representation in the transaction from an attorney in Uganda well versed in gold purchase due diligence investigations. Purchaser should consider escrow services and or collateral arrangements to secure down payments. Anyone in need of help with such due diligence in the transanction may contact our legal services for help.

For more information or assistance, you can contact +(256)774815012 or consult any attorney of your choice, with experience.

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