The OLC always acts as 'Sell Facilitator on the Buy Side'.

Our method of operation is simple:

1) We arrange communication between buyer and seller signatories, our buyer relationships are strong enough to be able to do this without fear of circumvention.

2) We then get the hell out of the way and let those who can close deals do so.

Direct Sellers Please Read 

GLD Gold is:

Usually 12.5 kg bars, (possibly 1 Kg bars and/or other forms) 999.5+ Au, with: London Metal Exchange (LME) accepted hallmark, and proper provenance. Presently held in custody with full responsibility by a London Metal Exchange accepted depository, which certifies clean, clear title, and ships the AU under bond to the buyer's LME accepted depository at seller's cost.

All GLD gold is registered. GLD gold can be authenticated through secure banking channels by a bank's licensed bullion officer.

By banking definition, a Full Corporate Offer (FCO) for GLD gold contains the data that allows verification by a bank's bullion officer. The minimum required data is the complete certificate number(s) for the gold, the SKR(s) indicating the gold certificate numbers from a registered Secure Depository, or bullion officer details, name/number, and letter from seller authorizing buyer' officer to contact. The buyer/bullion officer will not authorize and/or sign any document until the GLD gold has been verified, as this is contrary to all bullion banks gold procedures. The buyer's representative will issue an FPA when the Full Corporate Offer has been verified. According to banking rules the buying bullion officer will not contact the selling bullion officer until he has written permission from the seller to do so, to do so would be considered solicitation.

As a rule GLD registered transactions can be closed in as little as 5 banking hours.
These sales have full bank responsibility for the transaction.

Full GLD Procedures

NON-GLD Gold is:

Gold that does not meet ALL of the above specifications.
For all non-GLD Gold, dore, gold dust, ingots, nuggets, flakes etc.) the bullion banks will pay immediately upon proof of the product. Title is retained by the seller until payment.
 
Proof of product is accomplished by the seller delivering what they says is gold to designated airport closest to the buyer's designated refinery depository at seller's cost. The seller provides evidence of clean, clear title. The buyer arranges to pick up the gold by bonded courier ( e.g., Brink's) and transport to the refinery. The refinery depository refines the said product at the buyer's cost. The refinery depository refines the material, assays the metal melt, and issues its AU credit memorandum. Assay samples are retained. The refinery, seller, and buyer each agree as to the accuracy of the refinery's credit memorandum. The seller retains title until he is paid. He is paid immediately upon the refinery's issuance of their credit memorandum. 

(FYI-The refined gold is later converted to GLD status and sent to the buying bullion bank by the buyer.)

Here are some of the standard procedures available that are real.

"Simple Procedures"

“Off-Market Private Treaty Spot Deal” in the mode of a “Bank-to-Bank Transfer of Title for Payment

“OFF-MARKET PRIVATE TREATY SPOT DEAL” IN THE MODE OF A “PRIVATE PARTY - TO - PRIVATE PARTY TRANSFER OF TITLE FOR PAYMENT TRANSACTION”