Terms & Conditions

Terms & Conditions
Introduction

The two parties (Seller or service provider “First Party” & The Customer “Second Party”) agreed pursuant to the terms and conditions subject to which all transactions regarding investments in precious metals (Gold, Silver, Platinum & Palladium) shall be done.

And the parties have agreed on the following:



Definitions:

Bullion means precious metal bars and coins (gold, silver, platinum and palladium) that are designated for trading through their sale or purchase in units of ounces, kilograms and/or ten tolas and are considered high quality precious metals, unless stated otherwise by the company, and comply to the minimum purity requirements of the Dubai Good Delivery (DGD) and London Good Delivery (LGD) standards. Bullion type determination and distribution shall be done only upon client request of physical delivery via seller investment platforms through a bullion account approved by the company. Upon request for physical delivery, the bullion type, location of the physical delivery, commodity shipping fees and physical redemption fees shall be determined subject to the agreement entered by both parties. All trades and transactions of precious metals are subject to the laws and regulations of the Department of Economic Development of the Dubai Government and Dubai Multi Commodities Center (DMCC).



All bullion determined for distribution is subject to the laws and regulations of the delivery location. All risks that may arise from the delivery process will be the client’s or his attorney’s personal responsibility, whether positive or negative.

The client may trade in any of the precious metals via investment platforms through any of the following approved accounts by service provider:

Regular Bullion Account: A trading account through which the client can invest and purchase precious metals from the company. The client shall be required to deposit the full price of his commodity (purchases).



Special Bullion Account: A trading account through which the client can fix a precious metal’s price via investment platforms of service provider by depositing a specific percentage, pre-agreed upon by both parties, of the transaction’s total value. The client shall complete the remaining balance before applying to obtain the precious metals physically within a specific timeframe, pre-agreed by both parties, with the possibility of extending this timeframe by the company as it deems fit. A financial penalty shall be applied in a reasonable manner by the company if the client fails to cover the remaining balance within the specific timeframe agreed upon by both parties.

Bullion trade value shall be calculated via the mathematical formula (bullion quantity in units of ounces, kilograms, or ten tolas * the unit price as pre-determined in the sale agreement), while the market value of any bullion trading contract is always equal to the result of (bullion quantity in ounces, kilograms, or ten tolas * the current market value in USD).



Terms and conditions of Bullion Investment Agreement:

This agreement shall be subject to all terms and conditions mentioned below, and these terms and conditions which include the schedule attached thereto, are considered as an integral part thereof:

All transactions agreed upon by both parties shall be subject to physical redemption fees and shipping charges (in case the client applies for commodity physical delivery) as well as the online transactions fees (commission) and the margin requirements mentioned in the attached schedule. The company shall have no right to change limit orders and/or prices without informing the client three working days earlier.



In case any payment is due by any party (company or client) as a result of trading precious metals, then according to the above article 1.3.2 or the following articles 2.3, 2.4, or 2.5, the due amount shall be paid by the binding party on the due date.

The company shall have the right upon prior notice to close all of the client’s positions on the investment platform or to liquidate his/her account (provided that the company shall not be liable to return any deposits in case any deals remain pending or if any of the company obligations towards client are secured and irrevocable), in the following cases:

Bankruptcy or material damage that results in the client’s inability to pay his debts when fall due.

Summoning him by relevant authorities subject to his bankruptcy or similar situations as the case may be.

Appointing receiver or liquidator to manage all or any of his assets or properties.

Client’s failure in payment of any dues or obligations towards the company on their due dates.

Client’s failure to maintain his margin level above 0%.

In case of liquidation, the company shall inform the client within one working day. In case the company couldn’t inform the client, the liquidation process will not be stopped and the company shall have no liability towards the client.