What is an RFQ in gold trading?

An RFQ (Request for Quote) is a structured request that tells sellers exactly what to quote and what terms to include. It helps buyers compare offers fairly by requiring the same product specs, verification rules, delivery terms, and documentation pack.

Why are gold quotes hard to compare when buying gold online?

Many quotes omit key details like assay authority, settlement basis, delivery term (Incoterm), insurance boundary, receiving fees, and document pack timeline. Without these, two prices that look similar can result in very different total costs and risks.

What should an RFQ include when buying Congo gold bars?

A strong RFQ includes purity (24K 999.9 or 22K), bar sizes, quantity (trial and/or monthly), verification method, assay authority for settlement, delivery term and named destination, insurance scope, and the full document pack required before and after dispatch.

What is the most important settlement detail to define in a gold RFQ?

Define the assay authority and settlement basis. Professional settlement is typically based on fine gold content confirmed by the agreed assay authority, with an umpire or reconciliation process if results differ beyond an agreed tolerance.

Which Incoterms are common for buying gold in Africa?

For bullion shipments, FCA, CIP, and DAP are often used because they match secure handoff points and air logistics. The right term depends on whether you want seller-arranged carriage and insurance or buyer-controlled logistics.

How do I reduce hidden costs in a gold purchase?

Ask for a quote that clearly states the Incoterm and named place, risk transfer point, insurance scope, who pays receiving fees, and an itemized document pack. If deductions exist, they should be defined in advance in the settlement formula.

Can I use an RFQ for a trial purchase and then scale to wholesale supply?

Yes. Many buyers use an RFQ to run a trial shipment and validate documentation, verification, timeline reliability, and settlement behavior. Once proven, the same RFQ structure can be used for monthly allocations or wholesale volumes.

Where can I request a quote from Congo Rare Minerals?

Start by reviewing available bar sizes and reference pricing on the Shop page, then contact sales with your RFQ details (quantity, purity, destination route, delivery term, and verification preferences) to receive a structured quote.

The Gold Buyer’s RFQ: How to Get a Clean, Comparable Quote When You Buy Gold in Africa Online

Admin

4 weeks ago

If you’re trying to buy gold in Africa or buy gold online, you’ve probably noticed something frustrating:

Two sellers can quote you “the same price per kg,” and one deal is smooth while the other turns into delays, extra costs, and endless back-and-forth.

That’s because most gold quotes are not written like real commodity quotes. They’re written like casual offers.

A professional buyer avoids this by doing one simple thing first: sending a proper RFQ (Request for Quote) that forces every seller to quote the same structure.

This post gives you a practical RFQ format you can copy-paste, explains the quote items that matter most, and shows how Congo Rare Minerals fits this model as a reliable gold seller and DRC gold exporter with direct-source capacity in North Kivu.

Why most quotes are impossible to compare

A “cheap” quote is often cheap because key parts are missing, not because the gold is truly cheaper.

Common missing pieces:

the purity standard and how it’s verified
who the assay authority is for settlement
whether settlement is based on fine gold content
which delivery term applies (FCA/CIP/DAP etc.)
where insurance starts and ends
what documents are included and when you get them

So if your goal is affordable gold bars with real deliverability, the trick is not hunting the lowest number. The trick is requesting a quote that can actually settle.

The “comparable quote” checklist (what every serious buyer requests)

Before you send money, your quote should answer these:

1) Product and purity

Is it 24K (999.9) or 22K?
Bar sizes (100g, 250g, 500g, 1kg, 5kg, 10kg)
Are bars stamped and identified (serials or batch IDs)?

2) Verification and settlement

What testing method is used (XRF screening, fire assay if required, or refinery assay)?
Who is the settlement authority (refinery lab, third-party lab, or an umpire process)?
What happens if assay differs at destination?

3) Delivery structure

Delivery term (FCA, CIP, DAP) and the exact named place
Who pays insurance and what it covers (storage, transit, handoffs)
Who pays receiving fees (vault/refinery intake)

4) Documentation pack

Invoice and packing list
Assay certificate and reference number
Bar serial list or batch ID list
Export and transit documentation (as applicable to the agreed route)
Airway bill and insurance certificate (when used)

5) Timing

How fast can the seller dispatch after agreement?
What is the document timeline (pre-alert pack before dispatch vs final pack after dispatch)?

If a seller can’t answer these clearly, the quote is not “cheap.” It’s unfinished.

Traditional quote vs professional RFQ quote

Here’s the difference in one table:

Quote type	What it looks like	What happens later
Casual quote	“$X/kg delivered, 24K”	Hidden assumptions and surprises
Professional quote	“$X/kg, purity, assay authority, Incoterm, named destination, insurance boundary, document pack, dispatch timeline”	Faster execution, fewer disputes

The RFQ template you can send today

Copy this and send it to any seller you’re considering.

RFQ: Gold Bars Supply Quote (DRC Origin)

1) Buyer profile

Buyer type: (retail investor / trading desk / refinery-linked / institutional)
Destination country: [Country]
Receiving route: (refinery / vault / bank custody / bonded facility)

2) Product request

Product: Congo gold bars
Purity: (24K 999.9) and/or (22K)
Bar sizes: (100g / 250g / 500g / 1kg / 5kg / 10kg)
Quantity: (trial quantity) + (monthly target if recurring)

3) Verification and settlement

Preferred verification: (seller assay + independent assay) or (destination refinery assay)
Assay authority for settlement: (refinery lab / third-party lab / umpire process)
Settlement basis: fine gold content confirmed at settlement assay
Variance handling: specify tolerance or umpire process if required

4) Delivery and insurance

Preferred Incoterm: (FCA / CIP / DAP)
Named place: (airport / secure facility / refinery receiving point / vault receiving point)
Insurance: confirm who arranges insurance and full coverage scope (storage + transit + handoffs)
Receiving fees: confirm who pays intake/handling fees (if any)

5) Documentation pack
Please confirm the document pack provided before dispatch and after dispatch:

Proforma invoice (pre-dispatch)
Packing list
Assay certificate + report reference
Bar serial list or batch/lot ID list
Export/transit paperwork (as applicable)
Airway bill and insurance certificate (if shipment is insured)

6) Timeline

Dispatch timeline after agreement: [X days]
Pre-alert pack timeline: [X hours/days before dispatch]

7) Quote format
Please quote:

Unit price and currency
What is included and excluded
Validity period of quote
Any minimum order or volume pricing tiers

This RFQ forces clarity. It also makes honest sellers look better, fast.

Where Congo Rare Minerals fits (and why the RFQ helps you see it)

Congo Rare Minerals is built around a sourcing model that can support both cost-conscious buyers and volume buyers:

Direct supply in North Kivu through a wide network of small-scale miners (a large share of the region’s production flows through CRM), which reduces middleman markups.
Scale and stability: being a primary buyer in the region supports more predictable pricing and repeat supply.
Community-based model: consistent local purchasing supports livelihoods and strengthens traceability and continuity.
Operational control: fewer handoffs from pit to export vault reduces handling cost and delay.
Export readiness: structured documentation and logistics planning that fits professional settlement.

That is why CRM can list competitive prices and still focus on verification, documentation, and secure delivery. You are paying less for fewer markups, not paying less for lower standards.

How to use the RFQ to spot a “good deal” in 10 minutes

Once you get responses, score them quickly:

Green flags

Clear purity statement (22K vs 24K 999.9)
Assay authority is defined, not vague
Delivery term and named destination are specified
Insurance boundaries are written
Document pack is itemized and consistent
Timeline is realistic and tied to paperwork steps

Yellow flags

“All-in delivered” without a term
No clarity on assay authority
Document pack described as “available later”
Seller avoids stating risk transfer or insurance scope

This is how you protect yourself while still targeting direct source gold prices.

CTA: want a clean quote you can approve internally?

If you’re ready to buy gold in Africa and want a quote that’s structured for real settlement:

Visit /shop/ to view bar sizes and reference pricing.
Send the RFQ above to Congo Rare Minerals Sales for a tailored quote based on:
- quantity (trial or wholesale)
- purity (24K 999.9 or 22K)
- destination route (refinery, vault, bank custody)
- delivery term (FCA/CIP/DAP)
- verification preference