Approved buyer participation terms
Proposed requirements for buyers using ASMRAF-linked mine and lot information.
Draft for ASMRAF review · Version 0.2 · 14 October 2026
Prepared for the South African launch. This document sets out proposed rules; it does not confirm that staff, services or legal arrangements have been put in place.
1. Admission and scope
This draft does not approve any buyer. Assess the applicant’s identity, beneficial ownership where necessary, relevant licences, sanctions and risk profile, and the intended minerals and jurisdictions. Record approval scope and authority. Participation does not replace the buyer’s legal, sourcing, tax, import or export obligations.
2. Before each purchase
Check the mine’s current status and relevant operating rights, the seller’s authority, lot identity, quantity, assay and custody evidence. Resolve mismatches before relying on the record. A code alone does not prove every claim about a consignment. Do not treat a provisional, suspended or withdrawn status as a Certified verification.
3. Confidential information
Access only the information authorised for the transaction and purpose. Keep identities, exact locations and documents confidential, restrict access within the buyer’s organisation and prohibit onward use unrelated to due diligence. A confidential seller label does not remove the need for true legal identities in required legal and compliance records. MinePay’s confidential fee arrangements are not automatically buyer-visible.
4. Commercial and settlement records
The miner sells to the buyer; ASMRAF verifies and MinePay may facilitate through its technology. Separate contracts must identify the actual parties, price, costs, terms, invoice and payment responsibilities. Creating an invoice or approving a contract is not evidence that a miner was paid. Payment records must be supported by the relevant provider or bank confirmation.
5. Changes and breaches
Report material changes, suspected fraud and serious sourcing risks promptly through agreed secure channels. ASMRAF may restrict access or participation after a documented review, with an appropriate appeal route. Data-access scope, retention, fees if any, liability and dispute terms must be settled in a signed agreement before operational access.
Before this document is adopted
Approve buyer admission criteria, authorised data views and signed terms; identify competent reviewers and supported launch activities.
Proposed accountable role: ASMRAF programme and legal leads. Named appointments and an adoption date must be recorded before operation.
References
These references inform the draft. They do not imply endorsement or certification of ASMRAF.