Dubai Good Delivery

The Dubai Good Delivery standard was developed by Dubai Multi Commodities Center (“DMCC”) in 2005 and as regarded as the international benchmark for quality and technical specification for the production of gold and silver.

The objectives of the standard are to increase confidence in the gold and silver industry, create more opportunities for trade finance activities, provide the technical robustness and incorporate relevant globally accepted best practices. In addition, it provides a delivery standard for the Dubai Gold & Commodity Exchange (“DGCX”) for 1kg gold bar of 995.0 fineness and standard large silver bar ranging from 900-110 ounces of a minimum of 999.0 fineness.

As of June 2012, DMCC made it a mandatory requirement for all ‘Dubai Good Delivery’’ member refineries (“DGD Refineries”) to comply with and implement all the provisions of the DMCC’s Practical Guidance for Responsible Sourcing of precious metals (“the DMCC Guidance”). In November 2012, DMCC launched the consultative draft version of the Responsible Sourcing of Precious Metals Review Protocol to ensure all DGD member refineries are compliant with the DMCC Guidance and issued the final version in January 2013. For more information click here

Click here to download the DGD flyer

DMCC’s role

Owner and regulator of the DGD standard
Ongoing monitoring to:
- Enhance operational and technical robustness
- Evolve the framework based on the latest industry requirements
Enforcement and compliance of the DGD Rules for both DGD members and new member applications, such as:
- Know-Your-Customer
- Financial and Anti-Money Laundering (AML)/Combating Financing of Terrorism (CFT)
- Production volumes and technical refining processes
- Responsible sourcing of gold to ensure conflict free supply chain management
Chairing and steering meetings of DMCC’s Precious Metals Physical Committee (PMPC) and Technical Committee

The DMCC Precious Metals Physical Committee (PMPC) is composed of a group of regional experts who cover the key sectors of the physical trade including bullion banks, precious metal traders and related laboratories.

The current PMPC members are:

Alison Burns – Regional Head of Precious Metals – Standard Bank
Chirag Sharma – Manager – Business Development – DMCC
Gerhard Schubert – Head of Precious Metals – Emirates NBD
Harish Pawani – Managing Director – Bin Sabt/Peekay Intermak
Jeffrey Rhodes – Chief Executive Officer – INTL
Jon Stephens – General Manager – G4S International Logistics (Middle East) FZE
Pramod Mohan – Senior Executive Officer– Scotia Mocatta, Bank of Nova Scotia

New Membership Criteria

For a refinery to qualify for entry to the Dubai Good Delivery list the following criteria must be met:

1) Know-Your-Customer:

Declaration of beneficial ownership of the applicant refinery and related KYC documentation for key refinery personnel
Information on existing suppliers and customers
Sponsorship letters of references detailing applicant’s trading history with regard to supplying refined gold and silver

2) Financial and AML/CFT:

Audited financial statements for the previous three years
Minimum total net worth of USD 15 million for each of the previous three years of operations
Compliance with DMCC’s AML and CFT policy
Nomination of compliance officer and to fill requisite compliance questionnaire

3) Production volumes and technical refining process:

Certified production volume report to demonstrate uninterrupted production
- For Gold, production of 10 tonnes annually in each of the previous three years
- For Silver, production of 30 tonnes annually in each of the previous three years
- Description of production and/or refining processes detailing the methods and equipments for the purpose of weighing, assaying, quality control and EHS (environment, health and safety)
- 3-Dimensional coloured photographs of gold and/or silver
- Statement of marks and serial numbers conforming to DGD Rules

4) Responsible sourcing of gold and silver:

Signed undertaking for mandatory implementation of DMCC’s responsible sourcing guidelines
Operational reviews conducted by DMCC approved reviewers

Membership Renewal Criteria

Applicant should have had uninterrupted production for the last one year
The latest one year’s production of refined gold is at least 10 tons and 30 tons silver and they must be certified by independent auditors
Statement on company letterhead, confirming the serial numbers of gold and silver bars produced in the past one year
The application should mention if they have any affiliation with any trade associations or OTC and Derivative Exchanges
The total net worth should be at least US $ 15 million
Statement of change in ownership structure or company name or address, etc (if required)

To get the members application form and the DGD rules, please contact commodityservices@dmcc.ae

For a detailed list of members, please click here for Gold and here for silver.

Robust Technical Assessment

Following submission of the relevant documentation as set out in the new and renewal membership application criteria, the DGD applicant is subject to further evaluation as outlined below:

1) KYC due diligence assessment

Comprehensive screening and background check on declared beneficial owners and key personnel using global compliance databases such as FATF, UN sanctions, OFAC and others
Risk rating based on factors such as KYC screening results, operating and supply chain models and others
Quality of sponsors and/or references and relevance of business dealings

2) On-site refinery inspections

Performed by world-class expert inspection and testing agencies with extensive global experience
Agencies appointed on a rotational basis to ensure the highest service levels at all times

3) PMPC application review

The PMPC, comprising of global market participants, assists DMCC in reviewing DGD membership applications and provides advice on evolving market requirements
Regular spot checks performed on members by sourcing produced gold and silver from worldwide market participants for random sampling and further testing

Membership fee

Application & Membership Fees for all members

Membership Categories	Admission Fee for New Members	Annual Renewal Fee
One Metal	AED 6,170 (US$1,680)	AED 3,160 (US $860)
Two Metals (Gold & Silver)	AED 8,160 ($2,220)	AED 4,190 (US$1,140)

* Membership fee does not include cost of ongoing testing (borne by members) and are subject to change.

Technical Specifications

Gold

Generic Gold Bar Specifications

The applying refinery should produce gold bars that conform to the following specifications:

Weight: the weight of the bar should be 100 grams or more.

Fineness: the minimum acceptable fineness is 995.0 parts per. thousand fine gold.

Dimensions/Appearance: the shape and measurements of the bars may vary but the surfaces of the bar should be smooth, free of any irregularities such as layering, surface cavities, bubbles, blowholes or shrinkage.

Marks: The bars should bear the following marks: (1) serial number, (2) assay stamp of refiner, (3) fineness (to four significant figures), (4) weight (expressed in grams, kilograms or troy ounces), and (5) year of manufacture (optional).

Silver

Generic Silver Bar Specifications

The applying refinery should produce silver bars that conform to the following specifications:

Weight: the weight of the bar should be 1 kilogram or more.

Fineness: the minimum acceptable fineness is 999.0 parts per. thousand fine silver.

Marks: The bars should bear the following marks: (1) serial number, (2) assay stamp of refiner, (3) fineness (expressed to either three or four significant figures), (4) weight (expressed in kilograms or troy ounces), and (5) year of manufacture (optional).

Silver Grains Specifications

The applying refinery should produce silver grains that conform to the following specifications:

Weight: the weight of each bag of grains should be between 20 – 25 kilograms

Fineness: the minimum acceptable fineness is 999.0 parts per. thousand fine silver

Packaging: The grains should be packed in bags that are tamper-evident. Every bag must be sealed, and the seal must carry an identifying number and the refinery’s brand name and the exact total weight of the silver grains contained. Every bag must be accompanied by an assay certificate that is acceptable to DMCC.

Size of grains: 2-20 mm diameter

Contact Us

For more information contact us on:
Tel: +97144336711
Fax: +97143751896
Email: commodityservices@dmcc.ae

DUBAI MULTI COMMODITIES CENTRE