Delivery Bar
A delivery bar is a standardized form of precious metal (usually gold, silver, or platinum) that meets specific quality and weight requirements set by major commodity exchanges like COMEX or LBMA. When people in precious metals trading talk about a delivery bar, they mean a bar of metal that can be officially used to fulfill trading contracts. Think of it like a 'regulation basketball' - just as sports have standard equipment, metal trading has standard bars that must meet strict rules about weight, purity, and who made them.
Examples in Resumes
Managed quality control for Delivery Bar production meeting COMEX standards
Oversaw trading operations involving 400-ounce Delivery Bars and Good Delivery Bars
Coordinated logistics for London Good Delivery Bar transportation and storage
Typical job title: "Precious Metals Traders"
Also try searching for:
Where to Find Precious Metals Traders
Professional Associations
Industry Networks
Example Interview Questions
Senior Level Questions
Q: How do you ensure compliance with LBMA standards for delivery bars?
Expected Answer: A senior professional should explain the quality control process, documentation requirements, and relationships with approved refiners. They should mention weight tolerances, assay certificates, and chain of custody procedures.
Q: What are the key considerations in managing delivery bar logistics?
Expected Answer: Should discuss secure transportation, insurance requirements, vault management, inventory tracking systems, and coordination with approved carriers and storage facilities.
Mid Level Questions
Q: What documentation is required for delivery bar transactions?
Expected Answer: Should explain about assay certificates, weight lists, chain of custody documents, and transportation manifests required for delivery bar movements and trades.
Q: How do you verify the authenticity of a delivery bar?
Expected Answer: Should describe checking serial numbers, hallmarks, weight verification procedures, and working with approved assayers for verification when needed.
Junior Level Questions
Q: What are the basic requirements for a gold delivery bar?
Expected Answer: Should know standard weights (like 400 oz for gold), minimum purity requirements (usually 99.5% or higher), and need for approved manufacturer marks.
Q: What is the difference between a delivery bar and a non-delivery bar?
Expected Answer: Should explain that delivery bars meet exchange standards and can be used for contract settlement, while non-delivery bars might be pure but don't meet specific exchange requirements.
Experience Level Indicators
Junior (0-2 years)
- Basic knowledge of delivery bar specifications
- Understanding of documentation requirements
- Familiarity with vault operations
- Basic precious metals market knowledge
Mid (2-5 years)
- Delivery bar verification procedures
- Logistics coordination
- Quality control processes
- Transaction documentation management
Senior (5+ years)
- Complex trading operations management
- Regulatory compliance oversight
- Risk management
- Strategic planning for precious metals operations
Red Flags to Watch For
- Unfamiliarity with LBMA or COMEX standards
- Lack of knowledge about chain of custody procedures
- No experience with precious metals documentation
- Poor understanding of security protocols
- Limited knowledge of quality control processes
Related Terms
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