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TERMS AND CONDITIONS


PLEASE READ THE TERMS OF SERVICE BEFORE PROCEEDING.

Introduction

Please read these terms and conditions before using the Website or contracting with Bullionmark to perform the Services. Should you require any clarification or additional information please contact Bullionmark on Freecall 1300 600 629 (Australia) or +61 7 3139 1400 (International). You will also have the opportunity to review this Agreement during initial registration and before you confirm an order with Bullionmark. The definitions of terms and phrases as well as general rules for interpreting this Agreement are contained at the end of this Agreement.

1. Agreement

1.1 This Agreement contains the terms of service that governs the relationship of Bullionmark Pty Ltd ACN 127 755 308 (Bullionmark) and the person or entity using Bullionmark’s services (you).

1.2 By using the Website or any other Services provided by Bullionmark, including making purchases from Bullionmark, making sales to Bullionmark, placing orders with Bullionmark, reading articles from Bullionmark, watching videos from Bullionmark, viewing pricing data or charts from Bullionmark, you are agreeing to the terms and conditions set out in this Agreement. Before you may place orders to purchase and/or to sell with Bullionmark you must read and accept all of the terms in the Agreement.

2. Warranties and acknowledgements

2.1 You represent and warrant to Bullionmark that:

(a) you have sufficient experience and knowledge to make informed decisions to purchase bullion from and/or sell bullion to Bullionmark;

(b) if you are not an expert in investing in bullion then you have obtained independent professional advice in relation to the risks associated with investing in bullion; and

(c) you are making all of your own decisions in connection with the Services, purchases and/or sales and that Bullionmark is not making any recommendation with respect to such Services, purchases and/or such sales.

2.2 You acknowledge that:

(a) investment in precious metals provides no guarantee of interest or yield. Our staff are precious metal experts not financial advisors. Bullionmark does not give any advice or make any representation as to the investment value of its products or their suitability for individual clients;

(b) information provided on Bullionmark’s website may be sourced from a third party and is provided for general information and educational purposes only and will not have taken your particular situation or needs into consideration. Any blogs, videos, charts, tables, data, articles, RRS feeds, email, or any other communication provided by Bullionmark will not have considered your particular needs or financial situation. Bullionmark recommends you seek professional advice before making precious metal investments;

(c) under certain market or other conditions (such as technological or other disruptions), you may not be able to sell bullion to Bullionmark or sell such bullion at prices acceptable to you; and

(d) when you call for the delivery of bullion that is stored by Bullionmark in Unallocated Storage or otherwise, there may be a delay in delivering the bullion to you caused by a number of factors, including the requirement for the bullion to be barred and delivered, and you acknowledge that Bullionmark is not liable for any loss caused to you by any such delay.

2.3 You acknowledge that any purchase or sale of Bullion using the Bullion Trading Services is subject to a variety of risks, some of which are beyond the control of Bullionmark, and you expressly acknowledge that Bullionmark is not liable or responsible for those risks, for which you have sole responsibility. The risks associated with purchase/sale of Bullion include:

(a) risks associated with the price volatility of the bullion, particularly precious metals;

(b) the value of a bullion coin (e.g. gold kangaroors or silver kookaburras) and bullion bars are affected by many economic factors, including the current market price of bullion and the perceived scarcity of the product and other factors. Some of these factors include the quality and current demand and general market sentiment. Therefore, because both bullion bars and bullion coins can go down as well as up in value, investing in them may not be suitable for everyone.

(c) that bullion bars and bullion coins can decline in value and you should understand them well, and have adequate cash reserves and disposable income before considering a bullion or coin investment.

3. Limitations of liability, disclaimer and indemnity

3.1 Bullionmark excludes (to the maximum extent permitted by law)from this Agreement all conditions, warranties and terms implied by statue, general law or custom.

3.2 Bullionmark excludes all liability to any person, including you, and you release and indemnify Bullionmark against all acts or omissions of Bullionmark in tort (including negligence), contract, bailment or otherwise for loss of, damage to any bullion, or any delay or other failure arising out of the performance of the Services or this Agreement.

3.3 The exclusions, releases and indemnities in clauses 2.1 and 2.2 operate to the extent permitted by law and extend to loss of profits, business or anticipated savings or any other indirect or consequential damage and to economic loss and even if Bullionmark knows they are possible or otherwise foreseeable.

3.4 Bullionmark, in addition to performing the Services itself, also may engage third parties to perform the Services so they are entitled to the full benefit of these conditions, including any exclusions or limitations of liability, to the same extent as Bullionmark.

3.5 Even if Bullionmark breaches a storage contract or any of its or these conditions, all the rights, immunities and limitations of liability in this Agreement continue to have their full force and effect in all circumstances.

3.6 In the event that Bullionmark is liable to you despite the provisions of this Agreement in connection with a Service, Bullionmark’s liability shall be limited to the amount, if any, that you paid for such Service.

3.7 You indemnify and hold harmless Bullionmark and its affiliates, directors, officers and shareholders from and against any and all costs, damages, expenses, liabilities and obligations, including reasonable legal fees on an indemnity basis, as a result of, or in connection with:

(a) any breach of any representation or warranty made by you to Bullionmark; or

(b) any failure by you to comply with this Agreement.

4. Bullion Trading Services

4.1 Bullionmark offers to buy and sell Bullion through the Bullion Trading Services. Bullionmark will not be liable to you for any loss suffered if Bullionmark discontinues any of the Bullion Trading Services.

4.2 The price at which Bullionmark will buy or sell Bullion is published on the Website, changes from time to time and is applicable to a particular item of Bullion.

4.3 Once you have offered to buy or sell Bullion you have made an irrevocable offer to purchase the Bullion referred to in the order on the terms of this Agreement. Bullionmark may accept this offer at any time and you indemnify Bullionmark for any loss it suffers if you purport to withdraw this offer. When ordering through the Website, by email or telephone you will be issued an order number and the price for the Bullion when your order is submitted is your locked-in price.

4.4 Bullionmark reserves the right to refuse or cancel any order in Bullionmark’s absolute discretion until the Bullion is shipped to you even when an order number has been issued to you, including in such circumstances where the order is deemed questionable or exposes Bullionmark to risk, regardless of payment method, price confirmation or order status.

4.5 When confirming your order Bullionmark will provide you with details of the price for the Bullion and payment instructions by email. Bullionmark does not accept cash on delivery. orders. Any amounts detailed on an invoice as owing to Bullionmark must be paid and cleared in Bullionmark’s bank account within 24 hours of the invoice date or the Market Loss Policy will apply and the order will be subject to cancellation by Bullionmark.

4.6 It is not Bullionmark’s intention to enter into buying and/or selling transactions, accepting the risks involved only to have them cancelled by you. However, Bullionmark realises that there are rare situations where orders need to be cancelled. If you want to cancel and/or offset your order, you must do so during normal business hours of 10:00 – 4:00 Sydney time, Monday to Friday. Bullionmark does not need to accept a cancellation of an order.

4.7 All cancellations are subject to Bullionmark’s market loss policy set out in clause 5, plus a $95 cancellation fee. Cancellations may only be approved over the telephone, at which time you will be given a cancellation number. At the time of approval of a cancellation, if any market loss to Bullionmark has occurred, it will be calculated and added to the $95.00 cancellation fee. If you have not paid the market loss and any cancellation fee by credit card Bullionmark will invoice you in which case you will have 3 days to pay any amount shown in the invoice in full. Any amounts outstanding to Bullionmark pursuant to this clause or otherwise will accrue interest on daily balances and compound monthly at the rate of 15% per annum.

4.8 Bullionmark will not accept any future orders and you may not place any future orders until all amounts owing to Bullionmark are paid in full and Bullionmark will have lien over any Bullion stored by Bullionmark to satisfy any amount owing to Bullionmark.

5. Orders

5.1 Order entry systems have been designed to provide an efficient and dependable method for entering orders. Commercial internet service providers are not 100% reliable and a failure by one or more of these providers may affect internet based order entry. You acknowledge that the order entry system is a mechanical system and as such may be subject to failure beyond the control of Bullionmark.

5.2 All orders placed through the order entry system or by phone are taken on a best efforts basis. All orders shall remain pending at the full discretion of Bullionmark. Bullionmark shall not be responsible for errors, negligence, inability to execute orders and/or market loss related to a cancelled order. Nor shall Bullionmark be responsible for any delays in the transmission, delivery or execution any order placed by you due to breakdown or failure of transmission or communication facilities, or as a result of any other cause or causes beyond Bullionmark’s reasonable control or anticipation including issues relating to supply of stock.

5.3 Bullionmark specifically disclaims any liability or responsibility for orders placed via the Bullionmark online order entry system and for any loses or direct, indirect, consequential or incidental damages which you may incur as a result of the use of the Bullionmark online order entry system. Further, Bullionmark specifically disclaims any liability for the interruption, cancellation or other termination of the Bullionmark online order entry system.

6. Market loss policy

6.1 The Bullionmark Market Loss Policy is designed on “fairness” principles and will apply where you fail to comply with your contractual obligations resulting in administrative and/or market losses to Bullionmark or where you are exercising your rights pursuant to this Agreement to call for Bullionmark to buyback any Bullion sold to you. The Market Loss Policy will apply in Bullionmark’s absolute discretion.

6.2 Market loss will be solely determined by Bullionmark and will based on any loss or cost that Bullionmark has suffered or will suffer as a result of you cancelling your order, including any change in the spot price of the Bullion you agreed to purchase, any costs Bullionmark has incurred in arranging for the sale or delivery of the Bullion and any administrative costs or break costs for any contract Bullionmark has entered into in connection with your order. The amount notified to you by Bullionmark will be the Market Loss.

6.3 Any Market Loss will be automatically deducted from your credit card. If such Market Loss cannot be paid by credit card an invoice will be raised and you must pay any amounts shown on the invoice by direct bank transfer or alternate credit card within 3 days.

6.4 In addition to the other rights and remedies available to Bullionmark, in the event of any failure by you to comply with this Agreement, Bullionmark may, without limiting its other rights and its other remedies, suspend or terminate any account you hold with Bullionmark. The suspension or the termination of your account shall not affect your obligations under this Agreement.

6.5 If you are in breach of this Agreement, including where you fail to pay for any Market Loss, Bullionmark may, without limiting its other rights and remedies, apply any of your funds or metal holdings in its possession (including amounts paid by you for other purchases or amounts payable to you for sales of Bullion), to pay your monetary obligations to Bullionmark and may offset any monetary obligations that Bullionmark has to you against your monetary obligations to Bullionmark.

6.6 Any market gain on cancellations shall remain the property of Bullionmark.

7. Shipment and insurance policy.

7.1 Bullionmark safely and securely ships precious metals within Australia and around the world every day. Clear policies and disciplined processes are central to secure, fast, cost effective precious metal shipments. Bullionmark reserves the right to determine the most appropriate method of shipment unless specifically prearranged with you at time of order. The carrier chosen will depend on your location, order value and/or cubic measurements. Additional charges may apply for shipping method changes.

7.2 All Bullionmark orders for delivery within Australia require insurance. This will be calculated automatically as a percentage of the total order value and clearly stated in the ordering process. You will not have any rights in any insurance payment.

7.3 The following terms apply if you are an international customer:

(a) As a leading international bullion dealer, Bullionmark has a successful track record of shipping gold and silver all over the world. Bullionmark partners with Fed Ex, EMS, UPS, Brinks and Armaguard and ship into most countries.

(b) Bullionmark accepts international orders over the internet and by phoning +612 80040202. Insurance is not available for all international orders and Bullionmark recommends that you are required to contact Bullionmark prior to placing an order to confirm whether insurance is available for your order.

(c) All internet orders remain pending until we have reviewed the configuration, shipping and insurance rates and assessed the customs information for your country.

(d) International orders must also be paid by bank wire or transfer and until payment is received Bullionmark reserves the right to cancel any order (in addition to any other rights of cancellation Bullionmark has pursuant to this Agreement).

(e) International delivery options will vary by destination and are at the discretion of Bullionmark. Should you have specific shipping requirements you are required to contact Bullionmark before making your purchase.

(f) You acknowledge that all customs and taxation issues are your responsibility and Bullionmark will not be liable for any failure for Bullion to clear customs or for any adverse tax consequences as a result of your sale or purchase.

8. Buyback policy

8.1 Bullionmark provides all its customers with a buyback guarantee in the form of a refund, return and/or exchange policy on everything sold by Bullionmark including all bullion bars and bullion coins.

8.2 You may exercise your rights under the buyback policy at any time up to three (3) days from the date on which you receive your item purchased from Bullionmark provided you notify Bullionmark and the item is kept in its original packaging and is not damaged.

8.3 On exercising your rights under this clause 7, Bullionmark’s Market Loss Policy will apply to Bullion related items and the customer may (at Bullionmark’s discretion) be required to pay for any other costs, including shipping costs, incurred by Bullionmark in connection with the returned items. If an exchange is requested, Bullionmark reserves the right to find an acceptable replacement or refund your money less shipping costs, administrative costs and any Market Loss.

8.4 Any market gain on refunds or returned items shall remain the property of Bullionmark.

8.5 Bullionmark wants its customers to be pleased with their purchases. If for any reason you have a problem, please feel free to call Bullionmark’s offices to discuss. Beyond the three day buyback period provided by this clause 8, if you want to liquidate any Bullion or sell any items purchased by Bullionmark you may be able to place an order to sell same to Bullionmark.

9. Allocated Storage

9.1 Bullionmark offers secure storage facilities for its customers for allocated and unallocated Bullion for an annual fee. In addition to the other clauses contained in this Agreement, clauses 9 and 11 apply where Bullionmark has agreed to provide Allocated Storage to you.

9.2 If you desire to have Bullionmark store your Bullion by way of Allocated Storage you must contact Bullionmark with the details of the Bullion to be stored. Bullionmark will then provide you with a quote for the storage charges for the period up until the next 30 June following the date of the quote. You may then place an offer with Bullionmark for Bullionmark to provide Allocated Storage.

9.3 You warrant that you have fully and adequately described any Bullion tendered for storage, including its nature, weight and measurements and complied with all applicable laws and regulations in relation to the Bullion. You warrant that you are the owner or the authorised agent of the owner of the Bullion and that you accept this Agreement for yourself and for any other person having an interest in the Bullion.

10. Unallocated Storage

10.1 In addition to the other clauses contained in this Agreement, clauses 10 and 11 apply where Bullionmark has agreed to provide Unallocated Storage to you.

10.2 Bullionmark offers customers the option of purchasing Bullion by way of an unallocated ‘pool’ of the same type of Bullion. This is referred to as Unallocated Storage. If a customer wishes to purchase an unallocated portion of Bullion, Bullionmark may agree to sell that Bullion to the customer, but Bullionmark will arrange to store the Bullion on behalf of the customer until the customer calls for delivery of the Bullion.

10.3 You can request that Bullionmark provide you with Unallocated Storage of Bullion, by placing an order for the quantity of Bullion that you wish to purchase. The payment arrangements for Unallocated Storage are the same as apply in relation to the Bullion Trading Services specified earlier in this Agreement.

10.4 Bullionmark will advise you at the time of placing an order whether there are any storage charges for Unallocated Storage, which must be paid. Bullionmark may impose storage charges in the future for Unallocated Storage even if they are not imposed at the date your order is placed or accepted by Bullionmark and if you are not willing to pay these charges Bullionmark may terminate this Agreement and deliver the Bullion to you. If Bullionmark delivers the Bullion to you, you will have to pay any reasonable freight, handling, barring and other expenses incurred by Bullionmark.

10.5 If Bullionmark accepts an order for Unallocated Storage it will notify you by email.

10.6 You acknowledge that:

(a) any Bullion purchased pursuant to an Unallocated Storage service will not be set aside or earmarked for you, as the Bullion will remain part of a larger pool of the same type of Bullion;

(b) you will have no rights in the larger ‘pool’ that contains your Bullion, except to call for delivery of your Bullion upon payment of the charges notified by Bullionmark at the time you call for delivery; and

(c) you may not sell, assign, encumber or otherwise deal with the unallocated Bullion except with the prior written consent of Bullionmark, such consent to be withheld in Bullionmark’s absolute discretion.

11. General storage terms

11.1 This clause 11 applies to both Allocated Storage and Unallocated Storage.

11.2 Storage charges

(a) Storage charges for Allocated Storage are incurred annually and apply from the date your order for storage is accepted by Bullionmark up until the following 30 June in any given year. Bullionmark will issue invoices prior to 30 June each year for storage charges that apply for the next year of storage.

(b) You must:

(i) unless otherwise agreed, pay Bullionmark any charges quoted for the Allocated Storage in Australian dollars within 7 days of the date of Bullionmark’s invoice;

(ii) pay Bullionmark any charges or expenses not recouped out of the proceeds of sale of the Bullion if Bullionmark exercises its power of sale pursuant to this Agreement;

(iii) pay Bullionmark any charges, freight, handling or other expenses incurred in relation to the redelivery of the Bullion if you cease to utilise the Allocated Storage for your Bullion or any part of your Bullion; and

(iv) pay Bullionmark for any costs or expenses it incurs associated with barring any Bullion that is Unallocated Storage.

(c) Bullionmark will not refund any payment for storage fees under any circumstances.

(d) Bullionmark’s quoted charges represent the exclusive value of the supply for GST purposes.

11.3 You acknowledge that Bullionmark may subcontract its storage obligations without your consent and that the Bullion may be stored in a facility managed by a third party. Any exclusions of liability or indemnities provided by you under this Agreement will extend to the third party.

11.4 Bullionmark will only accept an offer for Allocated Storage or Unallocated Storage where Bullionmark’s facilities permit and on any additional terms and conditions notified to you at the time of you placing an order. Bullionmark may refuse to provide Allocated Storage or Unallocated Storage at its discretion.

11.5 Certificate of title

(a) Bullionmark will provide you with a certificate of title where it is storing Bullion on your behalf. This certificate of title may be issued by a third party who is storing the Bullion pursuant to an agreement with Bullionmark. You may ask to see a draft certificate of title on request.

(b) The certificate of title referred to in paragraph (a) may impose conditions on dealings with the certificate of title or the Bullion that is the subject of the certificate of title and you are taken to have accepted those conditions if you have not notified Bullionmark or the third party who issued the certificate of title within three days of receipt of the certificate of title. If you reject the terms contained in the certificate of tile and the certificate of title relates to Unallocated Storage, then you may liquidate your Unallocated Storage arrangement with Bullionmark and the Market Loss policy will apply.

(c) You irrevocably authorise Bullionmark to give notice to any third party who has issued you a certificate of title referred to in paragraph (a) to call for the delivery of any Bullion that is subject to Allocated Storage or Unallocated Storage when you call for the return the Bullion or are in default of this Agreement.

11.6 Lien

(a) Bullionmark has a general lien on any Bullion and on any other goods that you have provided to Bullionmark for all charges due or which become due on any account whether for storage of the Bullion or any other goods or any other of Bullionmark’s Services. Bullionmark may exercise this lien where any amounts remain owing to Bullionmark for a period in excess of one month.

(b) If any charges or amounts owing to Bullionmark pursuant to this Agreement are not paid when due or the Bullion is not collected when so required or designated, Bullionmark may, without notice:

(i) remove all or any of the Bullion and store them as Bullionmark thinks fit at your risk and expense; or

(ii) sell all or any of the Bullion as Bullionmark thinks fit and apply the proceeds to discharge the lien and costs of sale without being liable to any person for any loss or damage caused; or

(iii) Bullionmark may deduct or set-off from any moneys due from Bullionmark to you under any contract, debts and moneys due from you to Bullionmark pursuant to this Agreement conditions or any under any contract.

11.7 PPSA

(a) If the PPSA applies to any Allocated Storage or Unallocated Storage arrangement, the following provisions of this clause 11.4 shall apply and terms defined in the PPSA shall have the same meaning when used in this clause 11.4 unless the context otherwise requires.

(b) You will not have any security interest over any personal property which is stored by Bullionmark or any third party on behalf of Bullionmark and you undertake not to register any financing statement over Bullionmark or said third party in connection with any purported security interest over personal property stored by Bullionmark.

(c) If you have contracted with Bullionmark for Unallocated Storage, you waive all rights of enforcing any purported security interest in the pool of bullion in which your unallocated Bullion may exist.

(d) If Chapter 4 of the PPSA would otherwise apply to the enforcement of a security interest held by Bullionmark or that arises out of this Agreement, the parties agree that each of the provisions of the PPSA which section 115 of the PPSA permits parties to contact out of, other than sections 117, 118, 134(1) and 135 do not apply to the enforcement of such security interest.

11.8 At any time by providing at least 7 days’ written notice, you may call for the delivery of any Bullion contained in Allocated Storage or Unallocated Storage. Bullionmark will then make arrangements for the delivery of the Bullion to you, such arrangements including barring for unallocated Bullion, freight and handling of the Bullion. Bullionmark will endeavour to advise you as soon as possible of the expected date of delivery of the Bullion. Bullionmark will not be liable for any delay in delivery of the Bullion for any reason whatsoever.

12. Security

12.1 Bullionmark uses an offline Westpac Payment Gateway (for credit card payments) combined with a rapidSSL SSL Certificate to provide a secure environment for the processing of orders over the internet. Bullionmark reserves the right to change its payment method without notice to you.

12.2 All confidential information including your credit card details are encrypted the moment they are transmitted from your browser to Bullionmark’s servers using industry standard SSL 256-bit RC4 encryption technology. However, Bullionmark accepts no responsibility for loss or damage suffered by you in connection with you providing your credit card details to Bullionmark except in the case of wilful misconduct by Bullionmark.

13. Termination and default

13.1 Upon any failure by you to comply with your obligations to Bullionmark or upon any breach of this Agreement, Bullionmark shall have all of the rights and the remedies available to Bullionmark, whether at law, in equity or otherwise, including the rights and remedies under this Agreement.

13.2 In addition to the other rights and the other remedies available to Bullionmark, in the event of any failure by you to comply with this Agreement, Bullionmark may charge the credit card on which you have provided Bullionmark for any amounts due to Bullionmark including any Market Loss incurred by Bullionmark, cancellation fees and Bullionmark’s reasonable legal and other expenses incurred as a result of your breach of this Agreement on an indemnity basis. You expressly authorise Bullionmark to charge your credit card for all such amounts.

13.3 In the event that Bullionmark must take any action against you to enforce your obligations under this Agreement, including where Bullionmark refers your account to a collection agency or a lawyer for collection, you shall pay all of the costs and the expenses incurred by Bullionmark on an indemnity basis in connection with such action.

13.4 If you are in default of this Agreement and have engaged Bullionmark to provide Allocated Storage or Unallocated Storage then Bullionmark may, in its absolute discretion, do anything required to redeliver the Bullion that is being stored to you, including barring any unallocated Bullion, and Bullionmark may charge any amount incurred in doing so from your credit card. If for any reason Bullionmark cannot charge your credit card then any costs or expenses incurred by Bullionmark will be a debt due to Bullionmark payable immediately.

14. Website

14.1 A cookie is a small data file that certain web sites write to your hard drive when you visit them. A cookie file can contain information such as a user ID that the site uses to track the pages you have visited. But the only personal information a cookie can contain is information you supply yourself. A cookie can't read data off your hard disk or read cookie files created by other sites. Bullionmark uses cookies enable value added client benefits such as live quotes, shipping and payment information as well as information services such as charts and live account information.

15. Policies

15.1 Bullionmark has adopted the disclaimers, the ordering policies and procedures and the privacy policy available on request. Bullionmark may, from time to time, adopt other policies in connection with the Website and the Services. All of these policies may be amended or terminated, at any time and from time to time, by Bullionmark and such amendments and such terminations will take effect when posted on the Website. By utilising the Services you agree to comply with any such policies as published on the Website from time to time.

16. No relationship

16.1 The sole relationship between Bullionmark and you is a purchaser-seller relationship. No other relationship, including, without limitation, any agent-principal relationship, any employee-employer relationship, any franchisee-franchisor relationship, any joint venture relationship or any partnership relationship, between Bullionmark and you exists.

17. Force Majeure

17.1 If Bullionmark cannot perform any obligation under this Agreement as a result of any event that is beyond its control, including, government intervention or regulation, military activity, strikes, terrorism, financial crisis, derivative meltdown, failure of a supplier or storage partner or any other circumstances that may cause Bullionmark's delay or fail to perform such obligation shall be excused and Bullionmark shall not be liable for any damages as a result of, or in connection with, such delay or such failure.

18. AUSTRAC

18.1 Under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, it is an Australian legal requirement for all bullion dealers and other financial institutions to collect information about clients under certain circumstances. You can find out more by visiting the AUSTRAC website or contacting AUSTRAC on 1300 021 037 or help_desk@austrac.gov.au.

18.2 Bullionmark will inform you when AUSTRAC requirements apply to any sale of purchase of Bullion by you. AUSTRAC requirements will be automatically triggered by absolute or cumulative purchases above AUD$5,000. However, Bullionmark reserves the right to request AUSTRAC information at its own discretion.

18.3 If we have requested AUSTRAC information from you, no shipments can be made until the AUSTRAC documentation is on file. Refusal to submit AUSTRAC documentation may trigger a cancellation of your order or the Market Loss Policy.

19. Definitions and interpretation

19.1 In this Agreement, except to the extent that the context otherwise requires:

(a) Agreement means this agreement comprising these terms and conditions and any other document incorporated into this agreement by express reference;

(b) Allocated Storage means the storage of particular items of Bullion owned by you on the terms of this Agreement;

(c) Bullion means gold, silver, platinum or other precious metals offered for sale or purchase by Bullionmark from time to time and any other such metals which are offered to be held by Bullionmark in Allocated Storage or Unallocated Storage;

(d) Bullion Trading Services means the services provided by Bullionmark for the sale and purchase of Bullion, which are provided through the Website, by email and by phone;

(e) Market Loss Policy means Bullionmark’s policy applicable to cancelled orders or other circumstances provided for by this Agreement, which is set out in clause 4.7;

(f) Services means the Website, Allocated Storage, Unallocated Storage, the Online Order Services and any account held by you with Bullionmark;

(g) PPSA means the Personal Property Securities Act 2009 (Cth);

(h) Unallocated Storage means the storage of unallocated Bullion on the terms of this Agreement; and

(i) Website means the website or websites operated by Bullionmark in connection with the Services.

19.2 In this Agreement, except to the extent that the context otherwise requires:

(a) words importing the singular include the plural and vice versa;

(b) headings are for convenience only and do not affect interpretation of this Agreement;

(c) the words “includes”, “including” or “such as” are not words of limitation, and when introducing an example, do not limit the meaning of the words to which the example relates to examples of a similar kind;

(d) a reference to a clause or paragraph is a reference to a clause or paragraph of this Agreement;

(e) where a word or phrase is given a particular meaning, other parts of speech or grammatical forms of that word or phrase have corresponding meanings;

(f) an expression importing a natural person includes a body corporate, partnership, joint venture, association or other legal entity;

(g) a reference to a document or agreement includes a reference to that document or agreement as amended or replaced from time to time;

(h) a reference to a party to a document includes that party’s legal personal representatives, successors and permitted assigns;

(i) a covenant or agreement on the part of or for the benefit of two or more persons binds or benefits them jointly and severally; and

(j) a reference to a body, whether statutory or not:

(i) which ceases to exist; or

(ii) whose powers or functions are transferred to another body;

is a reference to the body which replaces it or which substantially succeeds to its powers or functions.

20. Assignment

You may not assign this Agreement or any of your rights or your obligations under this Agreement without the prior written consent of Bullionmark, which may be granted or withheld by Bullionmark in its sole discretion. This Agreement shall be binding on all permitted assigns and successors of Bullionmark and you. Bullionmark may assign this Agreement or any of Bullionmark’s obligations pursuant to this Agreement without your consent.

21. Governing Law

This Agreement shall be governed by, and interpreted in accordance with, the laws of Queensland, Australia. Each party irrevocably submits to the non-exclusive jurisdiction of the courts of Queensland.

22. Further Assurances

You shall execute and deliver such other documents and take such other actions as may be reasonably requested by Bullionmark to give full effect to this Agreement.

23. Notices

Except as otherwise provided in this Agreement, all notices and other communications to Bullionmark shall be posted to Bullionmark’s registered office and all notices and other communications to you shall be directed, at the option of Bullionmark, to the address that you provided to Bullionmark at the time of registration of your account or to the email address that you provided to Bullionmark at the time of registration of your account.

24. Recording of Phone Conversations

Bullionmark may record phone conversations between Bullionmark and you. You consent to the recording of such phone conversations and those recordings will be handled in accordance with Bullionmark’s privacy policy, which is available on request.

25. Absence of Waivers

25.1 Any failure or delay by Bullionmark to exercise a power or right does not operate as a waiver of that power or right.

25.2 The exercise of a power or right does not preclude:

(a) its future exercise; or

(b) the exercise of any other power or right.

25.3 The variation or waiver of a provision of this Agreement or a party’s consent to a departure from a provision by another party will be ineffective unless in writing executed by the parties.

26. Severability

This Agreement is intended to be enforceable to the fullest extent permitted by law. If any term or part of this Agreement is unenforceable the unenforceability does not affect any other terms or part of the term or any other term.

Amendment

26.1 Bullionmark may amend this Agreement at any time by posting the amended terms on the website. Except as otherwise provided in the Agreement, the amended will take effect for any use of the Services that takes place after publication of the amendment.

26.2 This Agreement may not be otherwise amended except by written agreement between Bullionmark and you.

27. Entire Agreement

This Agreement sets forth the entire understanding between Bullionmark and you with respect to the subject matter of this Agreement.

28. Enquiries

If you have any questions with respect to this Agreement or your rights and your obligations under this Agreement, contact Bullionmark on 1300 600 629 or +61 2 3139 1400 or legal@bullionmark.com.

29. No merger

Nothing in this Agreement merges, extinguishes, postpones, lessens or otherwise prejudicially affects any right, power or remedy that a party may have against another party or any other person at any time.

 

Introduction

Please read these terms and conditions before using the Website or contracting with Bullionmark to perform the Services.   Should you require any clarification or additional information please contact Bullionmark on Freecall 1300 600 629 (Australia) or +61 7 3139 1400 (International).  You will also have the opportunity to review this Agreement during initial registration and before you confirm an order with Bullionmark. The definitions of terms and phrases as well as general rules for interpreting this Agreement are contained at the end of this Agreement.

1. Agreement

1.1 This Agreement contains the terms of service that governs the relationship of Bullionmark Pty Ltd ACN 127 755 308 (Bullionmark) and the person or entity using Bullionmark’s services (you).

1.2 By using the Website or any other Services provided by Bullionmark, including making purchases from Bullionmark, making sales to Bullionmark, placing orders with Bullionmark, reading articles from Bullionmark, watching videos from Bullionmark, viewing pricing data or charts from Bullionmark, you are agreeing to the terms and conditions set out in this Agreement.  Before you may place orders to purchase and/or to sell with Bullionmark you must read and accept all of the terms in the Agreement.

2. Warranties and acknowledgements

2.1 You represent and warrant to Bullionmark that:

(a) you have sufficient experience and knowledge to make informed decisions to purchase bullion from and/or sell bullion to Bullionmark;

(b) if you are not an expert in investing in bullion then you have obtained independent professional advice in relation to the risks associated with investing in bullion; and

(c) you are making all of your own decisions in connection with the Services, purchases and/or sales and that Bullionmark is not making any recommendation with respect to such Services, purchases and/or such sales.

2.2 You acknowledge that:

(a) investment in precious metals provides no guarantee of interest or yield.  Our staff are precious metal experts not financial advisors.  Bullionmark does not give any advice or make any representation as to the investment value of its products or their suitability for individual clients;

(b) information provided on Bullionmark’s website may be sourced from a third party and is provided for general information and educational purposes only and will not have taken your particular situation or needs into consideration.  Any blogs, videos, charts, tables, data, articles, RRS feeds, email, or any other communication provided by Bullionmark will not have considered your particular needs or financial situation.  Bullionmark recommends you seek professional advice before making precious metal investments;

(c) under certain market or other conditions (such as technological or other disruptions), you may not be able to sell bullion to Bullionmark or sell such bullion at prices acceptable to you; and

(d) when you call for the delivery of bullion that is stored by Bullionmark in Unallocated Storage or otherwise, there may be a delay in delivering the bullion to you caused by a number of factors, including the requirement for the bullion to be barred and delivered, and you acknowledge that Bullionmark is not liable for any loss caused to you by any such delay.

2.3 You acknowledge that any purchase or sale of Bullion using the Bullion Trading Services is subject to a variety of risks, some of which are beyond the control of Bullionmark, and you expressly acknowledge that Bullionmark is not liable or responsible for those risks, for which you have sole responsibility.  The risks associated with purchase/sale of Bullion include:

(a) risks associated with the price volatility of the bullion, particularly precious metals;

(b) the value of a bullion coin (e.g. gold kangaroors or silver kookaburras) and bullion bars are affected by many economic factors, including the current market price of bullion and the perceived scarcity of the product and other factors.  Some of these factors include the quality and current demand and general market sentiment.  Therefore, because both bullion bars and bullion coins can go down as well as up in value, investing in them may not be suitable for everyone.

(c) that bullion bars and bullion coins can decline in value and you should understand them well, and have adequate cash reserves and disposable income before considering a bullion or coin investment.

3. Limitations of liability, disclaimer and indemnity

3.3 The exclusions, releases and indemnities in clauses 2.1 and 2.2 operate to the extent permitted by law and extend to loss of profits, business or anticipated savings or any other indirect or consequential damage and to economic loss and even if Bullionmark knows they are possible or otherwise foreseeable.

3.4 Bullionmark, in addition to performing the Services itself, also may engage third parties to perform the Services so they are entitled to the full benefit of these conditions, including any exclusions or limitations of liability, to the same extent as Bullionmark.

3.5 Even if Bullionmark breaches a storage contract or any of its or these conditions, all the rights, immunities and limitations of liability in this Agreement continue to have their full force and effect in all circumstances.

3.6 In the event that Bullionmark is liable to you despite the provisions of this Agreement in connection with a Service, Bullionmark’s liability shall be limited to the amount, if any, that you paid for such Service.

3.7 You indemnify and hold harmless Bullionmark and its affiliates, directors, officers and shareholders from and against any and all costs, damages, expenses, liabilities and obligations, including reasonable legal fees on an indemnity basis, as a result of, or in connection with:

(a) any breach of any representation or warranty made by you to Bullionmark; or

(b) any failure by you to comply with this Agreement.

4. Bullion Trading Services

4.1 Bullionmark offers to buy and sell Bullion through the Bullion Trading Services. Bullionmark will not be liable to you for any loss suffered if Bullionmark discontinues any of the Bullion Trading Services.

4.2 The price at which Bullionmark will buy or sell Bullion is published on the Website, changes from time to time and is applicable to a particular item of Bullion.

4.3 Once you have offered to buy or sell Bullion you have made an irrevocable offer to purchase the Bullion referred to in the order on the terms of this Agreement. Bullionmark may accept this offer at any time and you indemnify Bullionmark for any loss it suffers if you purport to withdraw this offer. When ordering through the Website, by email or telephone you will be issued an order number and the price for the Bullion when your order is submitted is your locked-in price.

4.4 Bullionmark reserves the right to refuse or cancel any order in Bullionmark’s absolute discretion until the Bullion is shipped to you even when an order number has been issued to you, including in such circumstances where the order is deemed questionable or exposes Bullionmark to risk, regardless of payment method, price confirmation or order status.

4.5 When confirming your order Bullionmark will provide you with details of the price for the Bullion and payment instructions by email.  Bullionmark does not accept cash on delivery. orders. Any amounts detailed on an invoice as owing to Bullionmark must be paid and cleared in Bullionmark’s bank account within 24 hours of the invoice date or the Market Loss Policy will apply and the order will be subject to cancellation by Bullionmark.

4.6 It is not Bullionmark’s intention to enter into buying and/or selling transactions, accepting the risks involved only to have them cancelled by you.   However, Bullionmark realises that there are rare situations where orders need to be cancelled.  If you want to cancel and/or offset you



   
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