Plad /Oz
£881.11
Plat /Oz
£644.94
Silver /Oz
£11.39
Gold /g
£30.54

Goldknox Limited Terms and Conditions

These terms and conditions (‘Terms’) set out the terms on which Goldknox Limited (‘we’ or ‘us’) a company incorporated in England and Wales under number 2237365 and having our registered office at Swinford House, Albion Street, Brierly Hill, West Midlands DY5 3EL, shall supply to our customer (‘you’) services in relation to the purchase, sale and storage of gold, silver, platinum or palladium (‘Precious Metals’). You should read these Terms very carefully and consider whether investment in Precious Metals is appropriate for you. Your attention is drawn particularly to the risk warnings in section 2 of these Terms, section 9 of these Terms relating to cancellation and the limitation of liability in section 13 of these Terms. The law favours written agreements and we will regard these Terms as setting out the whole agreement between us.

1. About these Terms

1.1. The Terms applicable at any time are those posted on our website.
1.2 We may change the Terms or our charges at any time by giving you 30 days notice of any changes. We will only make changes for good reason, including but not limited to:
1.2.1 making them clearer or more favourable to you;
1.2.2 reflecting legitimate changes in the cost of providing our services to you;
1.2.3 reflecting a change in applicable law or regulation;
1.2.4 reflecting changes in market conditions; or
1.2.5 reflecting changes in the way we do business.
1.3 We will give you notice of changes by e-mail and by posting notice of changes on our website. During this period you can end the relationship by ceasing to enter into new transactions and by withdrawing any Precious Metals we hold for you in storage. At the end of the 30 days period the new terms and conditions will be posted on our website as final.
1.4 These Terms are in English only and we will communicate with you only in English in the course of our relationship with you.

2. Risk Warning

2.1. You should note that the markets in Precious Metals are highly volatile and prices of Precious Metals may go down as well as up. There is no guarantee as to the value of any Precious Metals bought or sold in accordance with these Terms. Past performance or value is no guarantee of future performance or value.
2.2. Investment in Precious Metals involves a degree of risk which may make such investment unsuitable for some persons.
2.3. You should carefully consider the suitability of an investment in Precious Metals and if necessary seek independent professional advice as to this. In no circumstances shall we give you any advice as to the merits of buying or selling Precious Metals.
2.4. Markets for ‘spot’ transactions in Precious Metals (i.e. those involving delivery within a short time after contract) worldwide are usually unregulated and are, in particular, not subject to specific regulation by the Financial Services Authority in the United Kingdom. This means that you will not be able to take complaints to the Financial Ombudsman Service. It also means that you will not be able to claim under the Financial Services Compensation Scheme.

3. What we need before you start dealing with us

3.1. We may require you to provide, in accordance with laws relating to money laundering, evidence of your identity. What we shall require depends on your status. We may refuse to start dealing with you if we consider that we do not have sufficient evidence as to your identity and may cease dealing Including refusal to allow withdrawal of your Precious Metals from storage) whenever we consider that we need further information from you in order to comply with our legal obligations.
3.2. We may need clear evidence that you hold an account with a bank in the United Kingdom from which any payments will be made by you and to which any money due to you in accordance with these Terms will be returned to you (‘Nominated Bank Account’). You may not be able to change the Nominated Bank Account except where we expressly agree.
3.3. In addition to any evidence we require under section 3.1, we will need (and will keep) the following contact details relating to you:
3.3.1. your e-mail address;
3.3.2. your mobile and/or home telephone numbers;
3.3.3. your home address; and
3.3.4. any further information specified in our Privacy Policy.
3.4. You must keep the contact details set out in section 3.3 up-to date and inform us promptly of any changes. Until you inform us of any changes to your contact details, we will be entitled to continue to contact you using those of which you have informed us.
3.5. You confirm by entering into these Terms that you are at least 18 years of age and that you are resident in or operating from , the United Kingdom.

4. Communications and Security

4.1. The primary means of communication between us shall be by e-mail and via our website although we may also contact you by telephone and post.
4.2. Where we consider it appropriate we shall communicate with you by e-mail. This will include (but is not limited to) confirmations of purchases and sales, invoices for storage fees, monthly statements and changes to these Terms. We shall be entitled to consider that an e-mail has been received within 1 (one) Working Day of transmission unless we receive a message stating that the e-mail has not been delivered see section 4.7 of these Terms as to what is a Working Day.
4.3. We may (but are not obliged to) contact you by telephone where we consider it necessary, including (but not limited to) where we wish to confirm the details of any transaction or instruction. Where we do so, we may record any calls without the use of any warning in order to assist with our monitoring and compliance procedures and to avoid misunderstandings. Such recordings will be our property and will be accepted by you as evidence of your orders or instructions. We may use the recording and/or any transcripts of it for any purpose we consider appropriate and the recording of any such telephone calls shall be admissible as proof of any of the matters discussed in such telephone calls.
4.4. We may on occasion and where we consider it appropriate send communications to you by post to the address provided to us in accordance with section 3.3. Any communication sent by post shall be considered by us to have been received by you within three working days of posting. Proof that an envelope containing such information was properly addressed and posted will be sufficient evidence of this, though this is not the only way in which we will be able to prove this.
4.5. When you register on our website, we will arrange for you to have a password, username and such other security information (‘Security Information’) as we shall agree from time to time. You agree that you shall not disclose such Security Information to any third party and shall be responsible for any orders placed or transactions executed using the Security Information except where you have informed us that the Security Information is in the possession of a third party and may be misused.
4.6. You should check any confirmation of transaction, statement or account carefully and contact us without delay if you think it is not consistent with your instructions or there is an inaccuracy.
4.7. ‘Working Days’ in these terms and conditions means days on which banks in the UK are open for business excluding weekends or public holidays.

5. Our Services

5.1. By using our services you may buy or sell Precious Metals and we will arrange storage for you of your Precious Metals in accordance with these Terms.
5.2. You may buy or sell Precious Metals of the quality specified in section 5.3 and in the quantity specified in section 5.4:
5.3. The relevant quality of Precious Metal is:
5.3.1. Gold bars constituting investment gold bullion (as defined by Her Majesty’s Revenue and Customs 701/21) being not less than 99.99% purity and of a weight accepted by the bullion markets;
5.3.2. Silver bars which are not less than 99.9% pure;
5.3.3. Platinum bars which are not less than 99.95% pure;
5.3.4. Palladium bars which are not less than 99.95% pure.
5.4. You may only buy or sell quantities of Precious Metals whose weight is measured in grams or ounces in accordance with standard bullion market practice and which amounts to a quantity (i.e. weight) which is deliverable in accordance with standard bullion market practice.

6. How you buy or sell Precious Metals.

6.1. Buying and selling Precious Metals will be done principally via our website. Orders to buy or sell will be effective only when actually received by us. Whether we enter into any transaction to buy or sell Precious Metals will be entirely at our option.
6.2. You may offer to buy Precious Metals at prices we display on the website. These prices are indicative only and do not represent a binding offer to sell. Prices may change rapidly. A contract for sale will only come into existence when we have confirmed that we have accepted your offer. You may only buy deliverable quantities of Precious Metal (i.e. in accordance with section 5.4) where we have confirmed that these are available.
6.3. You may offer to sell Precious Metals which we hold in storage for you by offering to liquidate your investment at the price quoted on the website. The price indicated on the website will be indicative only and does not represent a binding offer to sell at that price. Prices may change rapidly. If we accept this offer, we will confirm this, at which point a binding contract of sale will come into existence. We shall, at our option, arrange to sell as your agent or buy the Precious Metals from you as principal.
6.4. You cannot use the website to sell Precious Metals unless they are held in storage by us on your behalf as we cannot verify that these meet the required market quality. You may, however, telephone us to discuss the sale of any Precious Metals which you hold and have bought from us, and we will consider whether we can buy these or effect a sale of them.
6.5. We will charge commission or fees on your buying or selling Precious Metals and will also charge storage fees, where we arrange storage of your Precious Metals, in accordance with section 7.7 of these Terms. Our current commission rates and storage charges are given at http://www.goldknox.com/about-goldknox/common-questions.
6.6. Our current commission/fee rates and storage charges are at http://www.goldknox.com/about-goldknox/common-questions but we may change these by posting notice of changes on our website and by e-mail to you with 30 Working Days notice in accordance with section 1 of these Terms.
6.7. Payment must be made by you of the purchase price and/or any commission/fee charges (plus any applicable VAT or other taxes) before any Precious Metals can be delivered to you (whether for storage or direct to you on withdrawal). .Unless we expressly agree otherwise, payment can only be made by bank transfer in a manner acceptable to us. If we are not satisfied that you have initiated payment by bank transfer for any Precious Metals which you have agreed to buy within 72 hours of your agreeing to buy them, we can cancel the contract and we reserve the right to charge you for any losses or expenses we incur in doing so (see further section 9.2 of these terms). If payment is made for any Precious Metals purchased within the timescales set out in this section 6.7, we will deliver Precious Metals to our Custodian for storage in accordance with these Terms within seven days of your agreeing to buy them.
6.8. Payment of any proceeds of sale will be paid by us by cheque or to your Nominated Bank Account within 7 (seven) days of our confirming the sale.
6.9. You may be liable to pay VAT or other taxes applicable in the country where our Custodian (as defined in section 8 of these Terms) is located on purchase, sale or withdrawal of Precious Metals and/or on any charges or fees due under these Terms and Conditions. Current charges and taxes are set out in our http://www.goldknox.com/about-goldknox/common-questions.

7. Storage of Precious Metals

7.1. We will arrange storage with a reputable bank or other provider of secure storage facilities (‘Custodian’). We shall remain responsible to you for record-keeping and administration in respect of your Precious Metals.
7.2. The arrangements we shall make with the Custodian shall be designed to reflect that the Precious Metals are owned by you. You shall be entitled to the Precious Metals even if either we or the Custodian is insolvent, as the Precious Metals will not form part of our, or their, assets. The Custodian will agree to keep our customers’ Precious Metals in segregated, secure storage.
7.3. You shall not, however, own a specific bar or item of Precious Metal but a specific quantity of Precious Metal held by the Custodian. Your Precious Metal exists and is capable of being sub-divided into measurable amounts of Precious Metal which can be withdrawn by you, if you so choose, on payment of any applicable fees and taxes.
7.4. We shall exercise reasonable care in the selection and monitoring of the Custodian. We shall not otherwise be liable for the acts or omission of the Custodian except where we have acted negligently or in bad faith in selecting and monitoring the Custodian. We shall agree such terms with the Custodian as we shall reasonably consider appropriate and these shall include, without limitation:
7.4.1. limitations of the Custodian’s liability (and this includes, in respect of facilities provided by a Custodian outside the United Kingdom, limitation of liability except where the Custodian has been grossly negligent);
7.4.2. a right to retain all or any precious Metals in the event that the Custodian’s charges have not been paid (though it is our intention to ensure that storage fees due to the Custodian are paid); and
7.4.3. an obligation to alert the Custodian to any discrepancies in relation to Precious Metals held within 28 days of our receiving a statement from the Custodian this means that if there is anything you disagree with in a statement you receive from us you must notify us immediately (see further section 14.1 of these Terms).
7.5. The Custodian is entitled to act solely in accordance with our instructions and shall be entitled not to comply with, or acknowledge, any instructions (whether for withdrawal of Precious Metals or otherwise) given by you directly.
7.6. Our present arrangements with our Custodian involves the Custodian agreeing to maintain insurance policies in respect of Precious Metals held in storage to the same extent that it maintains such policies for its own Precious Metals.. Except as stated otherwise in these Terms, your Precious Metals will be stored at your risk.
7.7. Storage fees shall be charged monthly in accordance with the Tariff of Charges at http://www.goldknox.com/about-goldknox/common-questions. You will be invoiced for these and these will be shown on your monthly statement. You must pay Storage Fees within [7 Working Days] of the date we consider that you have received them of them in accordance with section 4 of these Terms.
7.8. We shall have a right to retain all or any of your Precious Metals in respect of unpaid storage fees or other charges owed. We shall be entitled to sell the Precious Metals or a sufficient quantity of them after we have given you 14 (fourteen) days written notice of non-payment and if payment in full has not by then been made by the end of such period.

8. Withdrawal of Precious Metals from storage.

8.1. You may withdraw your Precious Metals from storage but you acknowledge that our services are designed principally for those who require storage facilities. If you would prefer Precious Metals to be delivered direct to you on purchase you may do so via our related company at www.goldknox.com.
8.2. If you wish to withdraw your Precious metals from storage, we can only deliver to you quantities of Precious Metals which are equivalent to whole bars (of sizes we consider to be appropriate). We may comply with a request for withdrawal of your Precious Metals by sending to you Precious Metals identical in quality and quantity to those held in storage acquired from such source as we reasonably consider appropriate and transferring your Precious Metals held in storage to us.
8.3. We may request (and you must provide) additional forms of identification before Precious Metals are delivered to your address.
8.4. You must pay our commission and charges on withdrawal as set out in our Tariff Guide at http://www.goldknox.com/about-goldknox/common-questions and our delivery charges in accordance with http://www.goldknox.com/about-goldknox/common-questions as well as any applicable taxes. We will require these to be paid before we arrange delivery of Precious Metals to your address.
8.5. On withdrawal of Precious Metals you may also become liable to taxes which you might not otherwise have to pay, including import taxes and/or taxes applicable in the location of the Custodian.
8.6. We will only despatch Precious Metals to your address in the United Kingdom, details of which we hold in accordance with section 3.
8.7. We will arrange Physical Delivery by what reasonably appears to us to be a secure and reputable carrier, with appropriate insurance cover.
8.8. You shall be responsible for ensuring that you or a trustworthy person authorised by you (‘Representative’) is available at your specified address to take delivery of the Precious Metals. We, and our carrier, shall be entitled to assume that any person taking delivery of the precious metals at the address specified by you shall be authorised by you to do so.
8.9. You or your Representative must sign for receipt of the Precious Metals and such act without reservation shall amount to evidence that the Precious Metals have been received in good condition. If, at the time of delivery, you or your Representative contends that the packaging has been opened or damaged or that seals have been broken or removed or that unpacked items are damaged, then this (or any other irregularities) must be recorded on the receipt from the carrier and you or your Representative must notify us immediately.
8.10. If you or your Representative are not available to take delivery from our courier and it is necessary to arrange direct delivery on another day, we reserve the right to require you to pay any further delivery charges that will be incurred.
8.11. Risk in the Precious Metals which you withdraw shall pass to you on delivery to you or your Representative.

9. Cancellation Rights

9.1. As the price for the supply of Precious Metals is dependent on price movements in the financial markets which we cannot control, you do not have any right of cancellation in respect of transactions for buying and selling Precious Metals. However (and subject to section 9.2 in relation to cancellation charges) where practicable, we shall use reasonable endeavours to assist you to cancel any such transaction. If you wish to cancel any transaction for purchase or sale of Precious Metals, you should contact us immediately by telephone to see whether it is possible for such orders to be cancelled.
9.2. You should understand, however, that a binding contract to buy or sell comes into force for you to buy or sell Precious Metals when confirmed in accordance with section 6.2 and/or section 6.3 of these Terms. You are obliged to make arrangements for a bank transfer to pay any money due from you on buying any Precious Metals in the timescales set out in section 6.7 of these Terms. We make arrangements to acquire or sell Precious Metals when we enter into a contract with you in accordance with section 6.2 and/or section 6.3 of these Terms and so cancellation may involve us in incurring costs and expenses. If we agree to cancel a contract, or cancel a contract because you have not made the necessary arrangements for payment in the time required by these Terms, we may require you to pay any reasonable costs and expenses we incur as a result of the cancellation.

10. Termination

10.1. You may withdraw your Precious Metals from storage in accordance with section 8 of these Terms.
10.2. We may terminate the arrangement between us (including simply terminating the storage arrangement) by giving you 30 calendar day’s notice in writing (which may include e-mail or post in accordance with section 3 or by general notice on our website). If we terminate the storage arrangement, you must make arrangements for withdrawal of your Precious Metals in accordance with section 8. of these Terms.
10.3. Termination will not affect either party’s outstanding rights or duties, including our right to recover any money you owe us under these Terms.
10.4. If you die, we will deal with your Precious Metals in accordance with what we reasonably regard to be the lawful instructions of your executives and representatives. We reserve the right to take what we regard to be reasonable steps to verify such instructions and to confirm whether or not they are lawful and to pass on to your executors or representatives any reasonable and proportionate charge we may incur in doing so..

11. Your Information

We will only use the personal information you provide to us to enable us to provide services to you under these Terms, or to inform you about similar services which we provide, unless you tell us that you do not want to receive this information or as specified in our Privacy Policy at Use of information obtained via our website is subject to our Privacy Policy. We will not pass your data to any third parties for financial gain.

12. Events Beyond our Control (‘Force Majeure’)

12.1. We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under these Terms that is caused by events outside our reasonable control (‘Force Majeure Event’).
12.2. A Force Majeure Event includes any act, event, non-occurrence, omission or accident beyond our reasonable control and includes, in particular (without limitation), the following:
12.2.1. strikes, lock-outs or other industrial action; or
12.2.2. civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war; or
12.2.3. fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster; or
12.2.4. fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster; or
12.2.5. impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport; or
12.2.6. impossibility of the use of public or private telecommunications networks; or
12.2.7. interruption or failure of utility service, including but not limited to electric power or gas.
12.3. Our obligations under these Terms are suspended for the period that the Force Majeure Event continues, and we will extend the time to perform these obligations for the duration of that period. We will take reasonable steps to bring the Force Majeure Event to a close or to find a solution by which our obligations under these Terms can be performed despite the Force Majeure Event.

13. Limitation of Liability

13.1. Subject to Clause 13.2, if either of us fails to comply with these Terms, neither of us shall be responsible for any losses that the other suffers as a result, except for those losses which we or you could reasonably foresee would result from the failure to comply with these Terms.
13.2. Neither of us shall be responsible for losses that result from our failure to comply with these Terms including, but not limited to, losses that fall into the following categories:
13.2.1. loss of income or revenue;
13.2.2. loss of business;
13.2.3. loss of anticipated savings; or
13.2.4. loss of data.
13.3. This section 13 does not exclude or limit in any way our liability for:
13.3.1. death or personal injury caused by our negligence; or
13.3.2. fraud or fraudulent misrepresentation; or
13.3.3. any breach of the obligations implied by section 12 of the Sale of Goods Act 1979 or section 2 of the Supply of Goods and Services Act 1982; or
13.3.4. losses for which it is prohibited by section 7 of the Consumer Protection Act 1987 to limit liability; or
13.3.5. any other matter for which it would be illegal or unlawful for us to exclude or attempt to exclude our liability.

14. Complaints

14.1. If you have any complaint in relation to the services which we provide to you under these Terms, you should contact us immediately. If you dispute, disagree with or have any issue with the content of any communication sent to you by e-mail or post, you must contact us immediately. Under section 7.4.3 of these
Terms we have limited time to correct any discrepancy as to Precious Metals held in storage and so it is very important that you notify us if you think that we have not correctly stated the amount of any Precious Metals held in storage for you.
14.2. We shall use reasonable endeavours to resolve any issues communicated to us by you but you acknowledge that any delay in communicating such dispute, disagreement or issue may prevent or reduce the value of any such resolution of such issue.

15. General

15.1. If any court or competent authority decides that any of the provisions of these Terms are invalid, unlawful or unenforceable to any extent, the term will, to that extent only, be severed (i.e. detached) from the remaining terms, which will continue to be valid to the fullest extent permitted by law.
15.2. If we fail, at any time while these Terms are in force, to insist that you perform any of your obligations under these Terms, or if we do not exercise any of our rights or remedies under these Terms, that will not mean that we have waived such rights or remedies and will not mean that you do not have to comply with those obligations in the future. If we do waive a default by you, that will not mean that we will automatically waive any subsequent default by you.
15.3. No waiver by us of any of these Terms shall be effective unless we expressly say that it is a waiver and we tell you so in writing.
15.4. A person who is not party to these Terms shall not have any rights under or in connection with them under the Contracts (Rights of Third Parties) Act 1999.
15.5. English law shall apply to these terms as well as to the establishment of relations between us before contract. You and we both agree to the non-exclusive jurisdiction of the appropriate courts in the United Kingdom for the settlement of any disputes between us. We do not deal with customers from addresses outside the UK and Channel Islands.

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