We put safety at the core of our business
GOLDBROKER LTD is incorporated under the laws of the United Kingdom, under company number 12021533, and its registered office is at 25 Eccleston Place, London SW1W 9NF, United Kingdom, represented for the purposes hereof by Etienne Dargent, in his capacity as director (“GOLDBROKER LTD”).
The website accessible at GoldBroker.com is published by GOLDBROKER LTD (the “Website”).
The client is an individual of legal age or a legal entity registered on GoldBroker.com that orders gold or silver in physical form (the “Client”).
Bars, gold or silver coins and all precious metals offered for sale by GOLDBROKER LTD to the Client are hereinafter referred to as the “Products”.
The general terms and conditions of sale (“GTCSs”) apply to all orders for Products placed by the Client with GOLDBROKER LTD via the Website. The term “order” refers to the process of ordering a Product (purchase and/or storage) as described in the GTCSs.
GOLDBROKER LTD may amend these GTCSs at any time by publishing an amended version hereof on the Website, in which case the most recent version shall supersede any earlier versions. Any order for Products is governed by the version of the GTCSs in force on the date on which the order is placed.
The Client represents that they have read and understood the GTCSs. The GTCSs shall be deemed to have been agreed to without reservation by the Client as soon as the Client has confirmed the order on the Website.
3.1. Placing orders
The Client may place an order to purchase Products with GOLDBROKER LTD via the Website. The Client must first create an account on the Website and log in to that account to complete the order.
In order to meet the compliance obligations set out in Clause 17 hereof, any Client that wants to create an account and purchase Products from GOLDBROKER LTD must provide the documents specified at the time the account is created, including a copy of their identity card and proof of address.
On creating their client account and placing the order, the Client is responsible for entering accurate, precise and complete delivery and/or billing addresses for the Products. GOLDBROKER LTD may not be held liable in any manner whatsoever for any errors made by the Client.
The Client shall then review the basket and enter the delivery address. The Client can then check the details of the order, the total price and make any necessary corrections. The Client shall then confirm the Products order and pay the displayed price (in the case of an immediate payments). The price and payment terms are covered in Clauses 8 and 9 of these GTCSs.
Where an order placed by a Client has a value in excess of $20,000 (twenty thousand), the Client must obtain and agree to a quotation before the order can be completed. This quotation is issued by GOLDBROKER LTD after the order is placed on the Website. The procedure for accepting the quotation and paying the associated price are described in Clause 9.1.
A summary of the Client’s order information is sent to him via the secure messaging service available in their client account. An email confirming the order without details is also sent to the email address provided at the time the account was created.
The Client may send any questions relating to the order (including delivery-related questions) to GOLDBROKER LTD via the secure messaging service available in their client account.
3.2. Cancelling an order
In the event that the information displayed on the Website (for example, information on the price of gold or silver) is incorrect, GOLDBROKER LTD may cancel the orders placed by the Client. In such circumstances, any amounts paid by the Client in respect of the cancelled order shall be reimbursed.
If a Client orders a Product that is not available on the Website, GOLDBROKER LTD shall contact the Client to offer an alternative Product. If the Parties are unable to reach agreement on the alternative Product, GOLDBROKER LTD shall cancel the orders for the unavailable Products placed by the Client. In such circumstances, any amounts paid by the Client in respect of the cancelled order shall be reimbursed.
The ordered Products relate to goods whose prices depends on fluctuations in the financial markets. Consequently, the Client does not have the right of withdraw from the orders of Products that are the subject of these GTCSs.
If the Client, however, wishes to cancel an order, they may contact GOLDBROKER LTD via the secure messaging service available in their client account. GOLDBROKER LTD may then contact the Client to agree on the terms of any such cancellation. If the Client agrees to the conditions proposed by GOLDBROKER LTD, the order shall be cancelled and any amounts paid by the Client for the order shall be reimbursed, with the exception of the cancellation fees applied by GOLDBROKER LTD as well as any decrease in the price of the metal price of the Products between the time of the order was placed and the time it was cancelled.
4.1. Delivery of the Products
At the time the Client places an order, they may choose to have the ordered Products delivered to the address provided at the time of the order, on the condition that such address is in a country to which GOLDBROKER LTD actually makes deliveries (a list of these countries is available on the Website).
Such deliveries is made by GOLDBROKER LTD’s partner delivery company, UPS,. In the event that specific delivery procedures are required for an order (for example, the delivery of multiple packages due to the volume of the Products ordered), GOLDBROKER LTD will notify the Client via the secure messaging service available in their client account.
4.2. Delivery times
It is estimated that the Products will be delivered within 3 to 5 days from the full payment made for the Products by the Client. A UPS online monitoring link will be sent to the Client via the secure messaging service available in their client account so that they can monitor their order and determine the delivery date.
Where the Client orders multiple Products at the same time with different delivery times, the delivery date for the order reflects the longest delivery time. In that case however, GOLDBROKER LTD, reserves the right to split deliveries. An email shall be sent to the Client to inform them of any delivery delays. In the event of any delivery delays, GOLDBROKER LTD will propose a new delivery date by email.
The Client agrees to make themselves available to take delivery of the ordered Products and GOLDBROKER LTD cannot be held liable for any delivery delays due exclusively to the Client’s unavailability after multiple delivery dates have been proposed by the delivery company.
If the Product is not delivered by GOLDBROKER LTD by the agreed delivery date, the Client must send GOLDBROKER LTD a recorded delivery letter requiring GOLDBROKER LTD to deliver the Product within thirty (30) calendar days. If GOLDBROKER LTD fails to deliver the Product by that date, the order shall be cancelled and GOLDBROKER LTD shall repay any price previously paid for the undelivered Products to the Client within fourteen (14) days.
4.3. Transfer of risks
The Client is hereby notified and acknowledges that the Products can only be delivered and remitted to them if the following conditions are met:
GOLDBROKER LTD shall not be held liable for any ordered Products if the aforementioned conditions are not met at the time the Products are delivered.
In general terms, the Client acknowledges that, at the time they take physical possession of the ordered Products (including at the time of delivery in accordance with this clause or in the event that the Products are withdrawn in accordance with Clause 6), the risks of the Products being lost or damaged are transferred to them.
Where the Client notices that the delivered Product is damaged or incomplete, they are responsible for raising any necessary objections and for confirming their reservations in a recorded delivery letter (signed for) within three (3) days of receipt of the Products.
5.1. Storage by MALCA-AMIT
When ordering Products, the Client may choose to store them in vaults administered by MALCA-AMIT, a partner of GOLDBROKER LTD. This storage option is offered when a Client first places an order with a value in excess of $5,000 (five thousand). If, at the time of this first order, the Client chooses to store their products in vaults administered by MALCA-AMIT, the Client shall also have the option of storing the Products acquired on subsequent orders, irrespective of their value.
MALCA-AMIT operates vaults that can be used to store the Products in Zurich, Singapore, New York and Toronto (at the Client's option).
MALCA-AMIT warrants that it holds the necessary certificates and approvals to carry on its business in the precious metals sector and, in particular, to store gold and silver in vaults with a high level of security.
When the Client places an order via the Website, as part of which the Products are to be stored in a vault, a storage agreement to be entered into with MALCA-AMIT shall be sent to the Client via their client account. This agreement, which is entered into directly by MALCA-AMIT and the Client in their own name, sets out the conditions of storage and insurance offered by MALCA-AMIT and the term, the termination procedures and the liability of the parties to the agreement. This direct relationship with MALCA-AMIT allows the Client to access their Products stored in the vault. As such, GOLDBROKER LTD does not store the Products on behalf of the Client.
The Products purchased by the Client via the Website are weighed before being stored, are given a serial number (solely for gold bars) and are stored in one of MALCA-AMIT’s vaults.
Once MALCA-AMIT and the Client have entered into the agreement, MALCA-AMIT shall send the Client, via GOLDBROKER LTD, a storage certificate known as a “SSOR”. The certificate will state the Client’s name, the number of the vault generated by MALCA-AMIT and any serial numbers of the Products. The number of the vault is to be used exclusively by the Client. It shall be stated on all the invoices and other contractual documents sent by GOLDBROKER LTD to the Client. This storage certificate may also be sent to the Client by post, if the Client so requests in writing.
MALCA-AMIT shall retain a copy of the storage certificate.
5.2. Withdrawal of the Products stored by the Client
The Client has the option of physically withdrawing its stored Products at any time from the vault administered by MALCA-AMIT. The Client must submit a request to make such a withdrawal via their client account. The procedures for withdrawing the Products applied by MALCA-AMIT shall be sent to the Client by GOLDBROKER LTD via the secure messaging service available in their client account.
The Client may also contact MALCA-AMIT directly to arrange the withdrawal of its stored Products.
If the Client withdraws all their Products stored by MALCA-AMIT and thus cancels their agreement with MALCA-AMIT, the Client acknowledges that MALCA-AMIT is solely responsible for remitting or delivering the Products to them.
Where the Client orders Products with a value in excess of $5,000 (five thousand), they may choose to withdraw them directly at the premises administered by MALCA-AMIT. The procedures for withdrawing the Products shall, in such circumstances, be sent to the Client directly by GOLDBROKER LTD via the secure messaging service available in their client account. The Client must sign a delivery receipt for the Products at MALCA-AMIT’s premises as evidence of delivery.
The Client acknowledges that, at the time they take physical possession of the ordered Products on their delivery by GOLDBROKER LTD via MALCA-AMIT, the risks of the Products being lost or damaged are transferred to them.
The Products stored by MALCA-AMIT are insured directly by MALCA-AMIT. The insurance terms and conditions are set out in the agreement entered into by the Client and MALCA-AMIT. The Client is hereby informed that, in the agreement entered into with MALCA-AMIT, MALCA-AMIT undertakes to provide proof of its insurance cover on request.
GOLDBROKER LTD is to check that the Products are appropriately insured by MALCA-AMIT against theft and damage and in line with the insurance standards generally accepted in the precious metals industry.
Under Clause 11, the insurance premiums paid by the Client are included in the annual storage fees paid to GOLDBROKER LTD for the maintenance and storage of the Products.
The prices of the Products stated on the Website are displayed in euros or in the currency of the country of the IP address used to make the order, and include all taxes (VAT where applicable; a list of companies in which the sale of the Products is VAT-exempt is available on the Website). The price is increased by the total amount of the sum of commissions of each person or entity in the production and distribution chains for the Products.
The price of the Products is calculated based on type of Product ordered, the number of Products, the place of delivery and the “spot price” (metal price) on the date on which the order is placed by the Client. Once the order and price are confirmed by the Client, the “spot price” is determined at the time the price is paid by the Client in accordance with Clause 9.
Once the Products have been ordered and paid for by the Client, the Client shall be sent a notification to the email address provided at the time the order was placed. The invoice may be accessed from the client account.
9.1. Payment of the price
For orders of a value of less than $5,000 (five thousand), the Client shall pay the Price by bank card at the time the order is placed.
For orders of a value or $5,000 (five thousand) or more, the Client undertakes to provide a bank card imprint and to pay the invoices by bank transfer within 72 (seventy-two) hours of placing the order. In these circumstances, the “spot price” is determined at the time the Client confirms the order and enters their bank card imprint.
If any price is not paid by the Client by the payment deadline, the order placed by the Client shall be cancelled and hedging costs shall be invoiced by GOLDBROKER LTD. Details of the method used to calculate the amount of these hedging costs will be sent to the Client before they are invoiced. These hedging costs payable by the Client shall be directly debited by GOLDBROKER LTD using the bank card imprint entered by the Client.
For orders on which a quotation is requested by the Client, GOLDBROKER LTD shall send the Client a quotation for the ordered Products via their client account. This quotation shall apply a 3% increase in the price of the Products to account for any rise in the price of the metal. On receipt of the quotation from GOLDBROKER LTD, the Client shall have 72 (seventy-two) hours to accept the quotation and pay the price by bank transfer. In such circumstances, the order is placed by paying the price stated in the quotation.
If the price of the metal changes by less than 3% between the time of issue of the quotation and the time of payment by the Client, the balance shall, at the Client’s option, either be reimbursed by GOLDBROKER LTD or retained by GOLDBROKER LTD to be used as a deposit on future orders.
If the Client does not accept the quotation or does not pay the associated price by the deadline, the order shall be cancelled by GOLDBROKER LTD.
In all circumstances, the price and the invoices referred to in this Clause 9 shall, at the Client’s option, be paid in either euros, US dollars, Swiss francs or pounds sterling. The option chosen by the Client shall be final and shall apply to all payments made by the Client and to any buybacks under Clause 14.1. On receipt of the amount of the invoice, the Client shall be notified that the funds have been received and will be sent a payment confirmation notice.
9.2. Bank transfer fees
Additional fees are payable by the Client on SWIFT payments or payments in foreign currencies. The amounts of such additional fees can be found in the “Rates” section of the Website.
The Products shall remain the property of GOLDBROKER LTD until they are paid for in full by the Client.
If the Client chooses to store their Products in accordance with Clause 5 of the GTCSs, GOLDBROKER LTD shall charge the Client storage fees for the Products, in addition to the price stated in Clause 8, to cover the costs of handling, storing, transporting and insuring the Products.
Account-holding fees are also applied if the total value of the stored Products in the Client’s vault is less than $20,000 (twenty thousand).
The amount of the storage fees can be found in the “Rates” section of the Website.
GOLDBROKER LTD reserves the right to alter these storage and account-holding fees to pass on increases in costs that are outside of its control (including increases in insurance-related costs and customs duties). If the Client does not agree to such increases, they may remove their Products from storage and terminate their agreement with MALCA-AMIT.
These storage fees shall be charged to the Client annually in the first year, then quarterly in subsequent years. The Client agrees to pay the invoices by bank card, bank transfer or by PayPal within 7 (seven) days of receipt of the invoice.
If the invoice is not paid on time, GOLDBROKER LTD reserves the right to refuse any request from the Client to withdraw the stored Products and to sell the Client’s Products. Any balance remaining after the unpaid storage fees are settled shall be transferred by GOLDBROKER LTD directly to the Client’s bank account and the agreement between the parties shall be terminated with immediate effect.
The Client may withdraw or sell the Products held in the vault administered by MALCA-AMIT at any time before the end of the first year of storage in accordance with clause 5.2 but, in such circumstances, the Client may not claim any proportional reduction in the annual storage fees. From the second year onwards, a proportional amount of the relevant paid quarterly invoice shall be reimbursed to the Client.
The Client is responsible for paying all customs duties and any local taxes applied (or that may be subsequently applied) to purchases, imports of gold or silver, sales of gold or silver, storage of gold or silver, or any associated charges. The Client is solely responsible for making the necessary declarations and paying the necessary taxes to the appropriate authorities and/or bodies.
In the event of any doubt, GOLDBROKER LTD recommends that the Client seek the advice of tax and legal experts on the purchase, sale and storage of the Products.
Given the unpredictable nature of the precious metals markets, there is a significant risk to the Client of losing capital as a result of purchasing or selling Products. The Client represents that they have read and understood the GTCSs and that they are aware of the volatility in the prices of the assets (gold and silver) and the extent of the risks associated with the use of GOLDBROKER LTD’s services.
Accordingly, GOLDBROKER LTD provides no guarantee to the Client that they will realize a capital gain on reselling the purchased Products and may not be held liable therefor.
14.1. Buyback of the Products
GOLDBROKER LTD offers the Client a Product buyback service for the Products stored in vaults administered by MALCA-AMIT.
The Client must send GOLDBROKER LTD a buyback request via the secure messaging service available in their client account, providing details of the Products to be sold. GOLDBROKER LTD shall then send its buyback terms to the Client. If these terms are agreed to by the Client, GOLDBROKER LTD shall then buy the Products back within 48 (forty-eight) hours of such acceptance.
14.2. Additional services
GOLDBROKER LTD also offers the Client, at the time Products are ordered on the Website in accordance with Clause 3, services involving inspection of the stored Products, withdrawals from vaults and photographs of the Products. These additional services shall be invoiced to, and paid for by, the Client in accordance with the provisions of Clause 9 hereof.
The Client should contact GOLDBROKER LTD via the secure messaging service available in their client account if they require any further information about the terms of these additional services.
GOLDBROKER LTD warrants that:
16.1. Liability of GOLDBROKER LTD
GOLDBROKER LTD’s role is limited to the services set out in these GTCSs. GOLDBROKER LTD may not be held liable for any indirect losses that may occur as a result of a Client ordering a Product.
GOLDBROKER LTD may not be held liable for any malfunction in any means of telecommunication or the server that hosts the Website or any other website, or the non-receipt of emails, faxes or letters sent by the Client.
GOLDBROKER LTD may not be held liable in the event that MALCA-AMIT fails to comply with its obligations. GOLDBROKER LTD’s liability in relation to the storage of the Products in vaults is limited to delivering the Products to the place of storage administered by MALCA-AMIT and chosen by the Client.
16.2. Force majeure
GOLDBROKER LTD accepts no liability for any delay or failure in meeting its obligations set out in the GTCSs if such delay or failure is the result of unforeseeable events outside of its control that are considered to be events of force majeure.
These events of force majeure shall constitute grounds for extinguishing or suspending GOLDBROKER LTD’s obligations under the GTCSs, without any possible recourse for the Client, and shall include acts of God, flooding, lightning, fires, earthquakes, industrial action, supply shortages, rationing, power cuts, wars, terrorism, riots, embargoes and any action taken by governments or sub-divisions thereof, accidents affecting the production and storage of GOLDBROKER LTD’s Products, the total or partial disruption of supply chains, failings by the delivery company, embargoes, insurgencies, suspensions of energy supplies, machinery breakdowns, total or partial strikes, administrative decisions, epidemics, explosions, acts by third parties and any external event that may delay, hinder or render excessively onerous the performance by GOLDBROKER LTD of its obligations.
All events of force majeure, as defined herein, shall be immediately notified to the Client.
If the event of force majeure lasts for more than one (1) month, the services being provided by GOLDBROKER LTD at that time may be terminated as of right by either Party, with no compensation payable. In such circumstances, the termination of the services must be notified by recorded delivery letter (signed for) and shall take effect on the date of receipt of such letter.
The Client shall not do anything, using GOLDBROKER LTD as an intermediary, that may be interpreted as money laundering. The Client represents that the transfer of all the funds that have been or that, in the foreseeable future, may be transferred is not and shall not constitute a money laundering offense as defined by the UK Proceeds of Crime Act 2002 and the money laundering regulations (MLR 2019), and that the funds have not been obtained through unlawful conduct or criminal activity.
By agreeing to these GTCSs, the Client warrants that the funds used to purchase the Products have been duly declared to the tax authorities in their country of residence and/or nationality.
The Client may not pay for Products using bank transfers from a third-party account.
To that end, any Client that wants to create an account and purchase Products from GOLDBROKER LTD must provide a number of verification documents, including a copy of their identity card and proof of address.
In processing the Client’s orders, GOLDBROKER LTD shall collect and process their personal data. GOLDBROKER LTD places significant importance on the confidentiality of its Clients’ personal data.
In this respect, GOLDBROKER LTD undertakes to comply with Regulation (EU) 2016/679 of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (the “GDPR”).
Clients should refer to GOLDBROKER LTD’s privacy policy if they require further information on its processing of personal data.
The GTCSs and any disputes of any nature associated therewith shall be governed by English law.
Any dispute, disagreement or claim arising from or linked to these GTCSs, or the breach, termination or invalidity thereof shall be submitted to arbitration in accordance with Part IV (Domestic Arbitration) of the law on arbitration and the arbitration rules currently in force in the United Kingdom. The appointing and administration authority shall be the United Kingdom Centre for Arbitration. The number of arbitrators is set at one (1). The place of arbitration shall be the United Kingdom. The language that shall be used in the arbitration proceedings is English.