Responsible Sourcing FAQs

Yes.

Yes, Assurance Providers are required to pay £2,100 per annum to be listed as an Approved Assurance Provider.

Please refer to Assurance Provider Skills and Competencies - Table 6: Third Party Assurance Guidance

Any Refiner applying to be an LBMA Good Delivery accredited Gold or Silver Refiner is required to implement the LBMA Responsible Gold or Silver Guidance and pass an audit prior to becoming a member of the Good Delivery List. All GDL Applicants must use an assurance provider on the LBMA's Approved Assurance Provider List. Please click here to see the current list in the LBMA Toolkit.

Once you have submitted your application form, it can take approximately eight weeks to receive a response. This is because the LBMA Physical Committee makes the final decision and they have to review your application at their monthly meetings. We will email the main contact who submitted the application to let them know outcome. If you are successful, the title of your auditing body and main contact's details will be added to our Approved Assurance Provider list.

The Physical Committee will review the Approved Assurance Provider list on an annual basis. The LBMA Executive will ask the listed assurance providers if anything has changed within their organisation or operations since their original application. If nothing has changed, no action is required. Supporting evidence in the form of documentation will be required if substantial changes have been made. The Physical Committee will then decide if the assurance provider can remain on the list.

Refiner's Summary Report - Appendix 8; Third Party Assurance Guidance.

Refiner's Compliance Report - Appendix 5; Third Party Assurance Guidance.

Assurance Provider's Independent Reasonable Assurance Report (to the Refiner) - Appendix 6; Third Party Assurance Guidance.

Assurance Provider's Independent Limited Assurance Report (to the Refiner) - Appendix 7; Third Party Assurance Guidance.

A refiner has to wait five years before submitting their application.

The LBMA Toolkit is intended for use as a guide to how refiners may implement the Responsible Gold or Silver Guidance. Refiners may adopt their own documentation and checklists as part of their controls and procedures.

No. It is up to refiners to establish their own risk assessments and investigations according to their activities.

If a refiner’s certification appears to be expired but they remain on the Gold Current List, the refiner’s assurance is in progress. They remain Good Delivery.

Once your assurance report has been received, it can take up to three months before the Compliance Review Panel provides an official response. A member of the Panel may get in touch during that time with any follow up questions. It can take an additional ten days before you receive your certificate. This process will take longer if your assurance requires a Corrective Action Plan to be submitted.

Deadline extensions may be granted under exceptional circumstances. You are advised to get in touch with LBMA as quickly as possible in advance of the deadline.

From 2017, Good Delivery List refiners will be required to perform assurance against the Responsible Gold or Silver Guidance. Supporting documentation from assurance under other industry schemes may be submitted as part of the refiner’s assurance deliverables.