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Procedure: How to Sell E-Gold
February 06 , 2013
  1. Identify the number of units you wish to sell. The sale will be effected on the day following the day you traded.
  2. You can get your demat gold units converted for physical gold if you wish. NSEL allows conversion for as small as 1 gm gold coin.
  1. Surrender your e-gold units to the exchange. Fill up and submit Delivery Instruction for Sale (DIS) to your DP. Ensure you have the right settlement number, market type, ICIN number and quantity on the DIS. Settlement number and market type will be provided by your broker. Another form you need to submit is the Surrender Request Form (SRF) specifying the center from where delivery will be collected.
  2. The DP transfers units to the exchange. You have to email scanned copy of DIS and SRF to the Exchange at NSEL-DP@Nationalspotexchange.com.
  3. The exchange computes charges applicable such as making & packaging charge, VAT, octroi and communicates to you. Pay cheque favouring National Spot Exchange Ltd to the vault where delivery has been requested.
  4. Delivery will be handed to the person authorized by you after 7 days and within 15 days of submitting transfer request. If you fail to collect within 15 days you would be charged storage charge for the entire month.

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