Good-Delivery Law and Legal Definition
Good Delivery represents the de facto standard for the quality of gold and silver bars. The assaying capabilities of refiners on the Good Delivery List are periodically checked under the London Bullion Market Association (LBMA)’s Proactive Monitoring programme.
The main requirements to be considered for listing are normally that a refiner must:
Have an established track record of at least three years of producing the refined metal for which the listing is being sought;
Produce a minimum quantity of refined metal per year – 10 tonnes of gold and 30 tonnes of silver;
Have a tangible net worth of at least £10 million equivalent;
Furnish evidence of their ownership structure and directors;
Provide, if required, a suitable letter of endors.