A 1. INTRODUCTION
1.1 We are Auric Group Ltd (AGL) T/a Bullionjoy, a company registered in England and Wales under company number 10965297, with our registered office at The CIBA Building, 146 Hagley Road, Birmingham, B16 9NX. In these Terms, we refer to ourselves as “Bullionjoy”, “we”, “us”. Our VAT number is GB277572070. We operate the website www.bullionjoy.com (the “Website”).
1.2 These terms and conditions and each of the documents we refer to in them (all together, the “Terms”) form the relationship between you and Bullionjoy as follows:
• 1.2.1 Section A: General Terms
• 1.2.2 Section B: Terms for Buying Products
• 1.2.3 Section D: Terms for Vaulted Storage
• 1.2.4 Section E: Selling to Bullionjoy
• 1.2.5 Schedule 2: Cancellation Form
1.3 By buying our products or using our services, you confirm that you accept these Terms and that you agree to comply with them. If you do not agree to these Terms, you must not buy our products or use our services. We recommend that you print a copy of these Terms for future reference.
1.4 You can choose to purchase and / or store “Investment Products”, “Precious Metals”, “Bullion Products” or “Non-investment Products” from / with us (together, “Products”). The key difference is that, with Investment Products, the price is dependent on fluctuations in the financial market, and with Non-investment Products, the price does not depend on such fluctuations (although both may be purchased for investment purposes). If you are unsure if a Product is an Investment Product or Non-investment Product, please contact us before placing your order or storing them with us. Some terms (particularly cancellation) differ between Investment and Non-investment Products as set out in these Terms.
1.5 References to applicable law in these Terms include all relevant statutes, regulations or regulatory rules and official guidance and interpretation in any relevant jurisdiction and refer to those in force from time to time.
1.6 The singular includes the plural and vice versa. References to one gender include all genders.
1.7 The headings of sections and clauses are for convenience only and do not affect interpretation. References to a section or clause are to sections or clauses of these Terms. The schedules form part of this Agreement.
1.8 Where the words “includes”, “including”, “for example” or “such as” are used they are deemed to have the words “without limitation” following them. Any reference to “written consent” means specific consent expressed to be for the purposes of the particular clause or section.
A 2. CONTACT DETAILS AND COMMUNICATIONS
2.1 To contact us, please telephone 0121 517 0309, or get in touch via our Contact Us page on the Website.
2.2 Communications between us shall be in English. Should we receive a communication or instruction which purports to be from you, we are entitled, but not obliged, to rely on and conclusively presume that such communication or instructions have been given by you. We may record and monitor conversations we have with you.
2.3 You must keep your contact information with us up to date, as any communication we send to your contact details will be deemed received by you, regardless of whether you actually receive it.
2.4 You accept that we are deemed to have received any email correspondence at the time we access it. You accept that there may be a delay in responding and acknowledge the risks inherent in email, particularly unauthorised interception and non-delivery.
A 3. ON-BOARDING
3.1 Before you use our services or purchase any Product, you may need to set up an account and provide information we request. You can do this on our Website, via telephone or at our office (by appointment only). We may keep a record of the information you provide.
3.2 We reserve the right not to on-board any person and are under no obligation to provide reasons.
A 4. ELIGIBILITY FOR OUR SERVICES
4.1 By using our services and purchasing any Product you confirm that:
4.1.1 (if you are a corporate body) you are duly organised and validly existing under the laws of your jurisdiction and have full power and authority to bind yourself to these Terms;
4.1.2 (if you are an individual) you are at least 18 and eligible to agree to these Terms and related obligations;
4.1.3 you will comply with applicable law, including not committing or facilitating bribery, corruption or tax evasion;
4.1.4 you have not received advice from us as to the merits of acquiring any Product and are solely responsible for your evaluations and decisions. Precious metal prices can be volatile and the value of your metal may go down as well as up. No responsibility can be accepted by Auric Group Ltd for any loss caused by acting on information we have provided. We do not offer investment or tax advice and recommend that you conduct your own independent research before making any investment decisions.
4.1.5 you understand the tax implications of using our services and acquiring our Products and accept sole responsibility for them;
4.1.6 you will provide whatever information we request for regulatory, compliance and contractual purposes, including identification, anti-money laundering, prevention of terrorist financing, KYC and fraud prevention;
4.1.7 you authorise us to make inquiries (directly or via third parties) to verify your identity or protect against fraud/financial crime, and to take action we reasonably deem necessary based on the results (your access may be altered as a result); and
4.1.8 all information you supply is complete, accurate, up to date and not misleading, and you will notify us promptly of any change.
4.2 You shall inform us immediately if you can no longer comply with clause A 4.1.
A 5. KEEPING YOUR DETAILS SAFE
5.1 You may be provided with or asked to create security details. You must keep them secure and not disclose them to anyone. Contact us immediately upon discovering any unauthorised use.
5.2 Any action or instruction by anyone using your security details will be treated as if made by you, and we are not responsible for any resulting loss.
A 6. PLACING AN ORDER FOR PRODUCTS AND SERVICES
6.1 You may place orders by email, via our Website, or over the telephone.
6.2 If we are unable to accept your order (for example, due to storage limits, lack of availability, or an error in fees or diplsy price), we will inform you and not process your order. If you have not received confirmation of acceptance within two Working Days (days other than a Saturday, Sunday or UK public holiday) of placing your order, please contact us. We only accept responsibility for providing Products/services where we provide specific confirmation by email titled “Sales Receipt” (if you pay by debit card) or “Your Order Has Been Accepted” (for other payment options such as BACS). A general acknowledgement email is not confirmation.
A 7. PRICE
7.1 Product prices exclude delivery charges and are inclusive of any applicable UK VAT unless stated otherwise.
7.2 Prices shown on our Website and adverts are indicative and not guaranteed. Prices may change. Except as set out in these Terms, pricing changes will not affect any order we have already accepted.
7.3 Prices we provide for sale of Products are inclusive of VAT (if applicable); prices for services are exclusive of VAT (if applicable).
7.4 If there is an obvious pricing error which could reasonably have been recognised by you as mispricing, we may cancel our agreement for the relevant Product(s)/service(s), refund sums you paid, cancel order at our discretion and/or require return of the Product(s).
A 8. OUR LIABILITY TO YOU
8.1 We do not exclude or limit liability for death or personal injury caused by our negligence; fraud or fraudulent misrepresentation; or any liability which cannot be limited or excluded by law.
8.2 Subject to A 8.1, in no event shall we be liable to you for any losses:
8.2.1 except where caused directly and reasonably foreseeably by our gross negligence;
8.2.2 caused by events outside our reasonable control;
8.2.3 resulting from any attack by a third party on our systems;
8.2.4 including loss of profits, sales, business, revenue; loss or corruption of data; loss of business opportunity; loss of anticipated savings; loss of or damage to goodwill; or any indirect or consequential loss;
8.2.5 resulting from your breach of these Terms;
8.2.6 resulting from our exercise of rights under these Terms; or
8.2.7 which we otherwise exclude under these Terms.
8.3 Any liability for losses you suffer arising from any contract agreed under these Terms shall not, in respect of any 12-month period (from the date that contract is entered into), exceed the charges payable by you for the relevant product or services in that period.
8.4 If loss is caused by the gross negligence of any third party we use, we will pass on any relevant compensation we receive to you. Where we receive an insurance pay-out in respect of any loss, we will pass the benefit on to you. If several clients are eligible, we will apportion any compensation/pay-out proportionately, and our determination shall be final.
A 9. PAYMENTS
General
9.1 You must pay all fees due to us, including any Delivery Fees (see A 9.8 and A 9.9). There may be charges/costs other than those charged by or via us; you are responsible for these.
9.2 You must pay each invoice we issue: (i) for services (such as storage) within 14 days of the date of issue; (ii) for the purchase of Products within 2 hours of the time of issue. Late payments may result in additional charges (see A 10).
9.3 All payments should be made in the currency we agree with you (at our sole discretion) in advance of your order. If you choose to pay in a foreign currency or from a non-GBP account, you are responsible for all charges/fees incurred by you and/or us.
9.4 Payments by direct debit will be taken on or around the first day of each month unless otherwise agreed. Debit cards issued outside the UK may not be accepted. Some payment methods and all international payments may carry additional charges which you must pay.
Delivery Fees
9.8 Where we arrange delivery, you are responsible for delivery costs and our administrative fee (the “Delivery Fee”). The Delivery Fee includes our actual cost of delivery, packaging and insurance and is calculated by reference to the price of the relevant Product(s) (as determined by us by reference to Website prices). Unless we advise otherwise, the parcel is insured up to the price of the Product(s) during transit. If any tax is payable in relation to delivery, you are liable to pay this. Generally, delivery to a residential UK address will incur VAT; any delivery outside the UK incurs customs duty and may incur local charges, government fees and levies. You are responsible for determining taxes payable.
9.9 Please refer to our Website for further details on deliveries and standard delivery costs. If Delivery Fees to a location are not published, please contact us for a bespoke quote. If our courier is unable to collect from you / deliver to you at the agreed address/time/date, you shall be liable to pay an additional fee of £60 (excluding VAT, if applicable) (or, if higher, the costs/expenses incurred by us) to agree a new collection/delivery time.
Pre-payments
9.10 We will only accept a pre-payment where we believe in good faith it is genuine. We are not obliged to accept pre-payments. Any pre-payment monies will not receive interest. You may not leave pre-payment monies inactive or hold balances indefinitely; we may return monies in such cases to the remitting account.
9.11 Pre-payments are received into a segregated client money account, separate from our own funds. We do not on-lend pre-payment monies. Funds move to our own account only when due and payable as a genuine fee to us.
9.12 We accept no liability for any action/inaction in determining how to deal with pre-payments, or for any loss/potential loss arising from a decision to accept, decline or return a pre-payment.
9.13 We are not a bank, we do not accept deposits, and accepting any pre-payment does not constitute a service regulated by the Financial Conduct Authority or the Prudential Regulatory Authority. Pre-payments are not protected by the Financial Services Compensation Scheme or the Financial Ombudsman Scheme.
A 10. LATE PAYMENT, LATE SUPPLY OF INFORMATION AND ADMINISTRATION FEES
10.1 If you fail to make payment by the deadline, we may claim reasonable compensation for costs we have incurred/will incur.
10.2 If payment is not made or received by the deadline:
10.2.1 we may charge you an administration fee of 1% of the price of the affected Product/services (min £30, max £5000, excluding VAT if applicable) (the “Administration Fee”), payable within 7 days of notification;
10.2.2 you will pay us for any direct loss we incur as a direct result of adverse price movement of the relevant Product(s) you purchased;
10.2.3 if you are a business customer, we may also charge interest on the overdue amount at 8% per annum above the Bank of England base rate or such higher statutory rate. Interest accrues daily from due date until actual payment (before/after judgment).
10.3 We may also, at our sole discretion:
10.3.1 cancel some or all of your contracts with us (you remain liable for any Administration Fee); and/or
10.3.2 if we do not cancel your order(s), give you a new deadline to pay (and clause A 10.2 applies if you fail to meet the extended deadline).
10.4 If your order is cancelled pursuant to A 10.3, you may submit a new order subject to revised fees.
10.5 In the event of non-payment or late payment, you agree that we may use, sell, retain or set-off any Products we are holding for you to settle the amount owed. We will only exercise this right if we have asked you for payment and the sum is outstanding for 25 Working Days from our request.
10.6 If you do not pay any amounts due by the relevant deadline, we may refuse to deal with you in the future in addition to other legal rights/remedies.
A 11. DELIVERY OF METAL PRODUCTS
11.1 Where we make delivery, timing depends on the Product. We normally despatch Products we hold in stock within two Working Days of receipt of full payment. We may offer express availability, subject to stock and market factors, which may incur a premium price, stricter payment terms and/or stricter cancellation terms (which you agree to by requesting express delivery). Any delivery dates are estimates only.
11.2 If we cannot meet the standard despatch times, or consider we may not deliver within 30 days of accepting your order (or such later time notified to you), we will let you know as soon as practicable.
11.3 For Products we source for you and which are bought for more than £60, you may need to confirm you are available to accept delivery on the nominated day before we despatch. You may be required to sign for delivery; if you are not available, your Products may be returned to a local sorting office/warehouse or to us. If returned to us, you will be charged the additional costs incurred by us, which must be paid in full before we attempt re-delivery.
11.4 For deliveries outside the UK, local laws may restrict shipping and certain countries do not allow money, coins or equivalent to be sent through their postal networks. Please refer to the delivery page on our Website for destinations we ship to and check before ordering. Your delivery may be subject to VAT, import duties and other taxes in the destination country which you must pay. We have no control over and cannot predict such charges.
11.5 Deliveries may be subject to seizure by customs/other authorities if there are restrictions on import into that territory. We make no representations or guarantees regarding import permission. You are responsible for determining import restrictions and compliance with applicable laws. We accept no liability for loss/damage to Products confiscated, seized or otherwise subject to local law restrictions or for non-compliance with import laws. We recommend obtaining local advice before asking us to deliver your Products or purchasing products from us.
11.6 Where we organise delivery, our total liability for any loss of Goods during transit is limited to the amounts received from the insurer under such insurance, which we shall pass on to you in accordance with A 8.4. We only obtain insurance for Goods with a value of £60 or more. To obtain appropriate insurance, you must send Goods in parcels of a maximum value of £20,000, or (where not possible) inform us in advance and send in parcels of a maximum value of £60,000. If it is not possible to split into parcels of £60,000, we will discuss custom insurance with you. Each parcel will be insured up to the lower of the maximum insured value of the parcel or the metal value of the Goods (as determined at our discretion from your description). Insurance covers loss of Goods in transit; it does not cover damage during transit.
11.7 Delivery of Products is complete once Royal Mail or our courier confirms delivery to your billing address (or another agreed address) or, if you are collecting, from a local delivery office or when you take physical possession at our office (by appointment). We strongly recommend you have adequate insurance arrangements from the point of delivery or collection.
11.8 All risk in Products passes to you on completion of delivery.
A 12. SUSPENDING OR ENDING A CONTRACT FOR SERVICES UNDER THESE TERMS
12.1 Each contract for services continues until terminated by you or us in accordance with these Terms.
12.2 You may terminate all or part of a contract for services at any time without liability:
12.2.1 by providing at least 14 days written notice to us; or
12.2.2 where termination is in response to a proposed change to these Terms, in accordance with A 14.
12.3 We may suspend, restrict, or terminate your access to any or all services, without reason or penalty, by giving 10 days’ notice.
12.4 In addition, we may at our sole discretion: (a) suspend, restrict, or terminate your access to any or all services, and/or (b) terminate some or all agreements with immediate effect where:
12.4.1 we are required to do so by law, court or other authority;
12.4.2 we suspect you of breaching these Terms;
12.4.3 we have concerns about fraudulent or unauthorised use;
12.4.4 third parties we use suspend or cease operation of their services;
12.4.5 it is beneficial to deal with events outside our reasonable control impacting our ability to provide services; and/or
12.4.6 reasonably required to deal with a security concern.
12.5 Unless it would compromise reasonable security measures or be unlawful, we will inform you by email, telephone or via the Website of any suspension and our reasons.
A 13. EFFECT OF TERMINATION
13.1 On termination of your agreement(s) we will return any Products we hold for you, subject to (i) completion of any further identity verification/AML/CTF procedures we may require; and (ii) payment of any outstanding fees and any Delivery Fee (see A 9.8 and A 9.9).
13.2 If you do not take delivery of your Products within three months of termination, we reserve the right to sell them at a price which, in our opinion, can be reasonably obtained at that time. We will provide at least one month’s written notice before selling. We shall use proceeds to pay outstanding fees and costs associated with the sale and (at your cost) transfer any remaining amounts to you in accordance with your instructions.
13.3 If, after 6 months following termination or expiry, your Products and/or the proceeds of sale remain in our possession or control because you have failed to collect or provide appropriate instructions for return, title to those Products and proceeds of sale shall transfer to us.
A 14. CHANGES TO THESE TERMS
14.1 We may make changes to our fees and these Terms from time to time in relation to agreements not yet agreed.
14.2 We may also make changes from time to time in relation to agreements already agreed:
14.2.1 to reflect changes to relevant law or regulation, taxation or levies;
14.2.2 to reflect changes required by any court, regulatory or tax authority or industry guidance/codes;
14.2.3 to reflect changes in the way gold/coin/bullion markets work;
14.2.4 to reflect changes to our technology or systems;
14.2.5 to reflect changes to our fees, including changes in our costs or other relevant external costs;
14.2.6 if it becomes impossible or impractical, in our reasonable opinion, to carry out any aspect of the Terms due to circumstances beyond our reasonable control;
14.2.7 to reflect changes to the range of Products/services we make available generally;
14.2.8 to make the Terms easier to understand;
14.2.9 where changes are to your benefit or not detrimental; or
14.2.10 for any other valid reason.
14.3 We will give you reasonable notice of changes, or may make changes with immediate effect where in your favour, required by law or relate to addition of new Products/services.
14.4 We will notify you by email, via the Website, or other method at our discretion. You will be treated as accepting any change unless you tell us you do not agree, in which case we will treat this as termination of the relevant agreement(s) from the date the change would otherwise take effect.
A 15. CANCELLATION AND REFUNDS
15.1 Most products sold by us are Investment Bullion products and does not have the Right to Cancellation. There is no statutory right to return or cancel an order once placed under the Financial Services (Distance Marketing) Regulations 2004. The goods we supply are dependent on fluctuations in financial markets. Cancellation rights are only available to consumers in relation to Non-Investment Products (whose price does not depend on financial market fluctuations). Cancellation rights are not available to business customers.
15.2 Subject to A 15.1, if you are a consumer residing within the UK or EEA, you placed an order for Non-Investment Products via our Website or telephone, and you did not visit us in-store (by appointment only) before entering the agreement, you can cancel without giving a reason during the period in A 15.3.
15.3 The cancellation period expires 14 days from the day the agreement was concluded. To exercise the right, inform us that you wish to cancel. You can do so in-store (by appointment only), by phone at 0121 517 0309 or by email at info@bullionjoy.com. You may use the model cancellation form for Non-Investment Products in Schedule 2, but it is not obligatory.
15.4 For cancellation of any services provided by us in relation to Non-investment Products, if you cancel after we have started providing services, you must pay for services supplied up to the time you notify us, calculated on a pro-rata basis. Any other fees (for services not yet provided) shall be refunded by the payment method used (unless otherwise agreed).
15.5 Refunds may be made in the currency you paid or the equivalent in pounds sterling. If you paid in a foreign currency, the refund amount in GBP will reflect the amount received by us on currency conversion (after any exchange/transfer fees at the time of receipt). You accept you may receive less than an amount calculated at a later exchange rate.
15.6 We will make any refunds due within 14 days of you telling us you wish to cancel.
A 16. COMPLAINTS
16.1 If you wish to complain about any aspect of our services or Products please contact our customer service team at info@bullionjoy.com We are keen to resolve issues promptly.
A 17. PERSONAL DATA
17.1 We will use your personal data in accordance with our Privacy Policy and Cookies Policy. By entering any agreement(s) under these Terms you also agree to these documents and should read them.
A 18. ADVERTISEMENTS
18.1 If you wish to order any Product(s) advertised for sale in an advertisement (whether Investment or Non-investment), you should call us to check availability and price before sending payment.
18.2 If you place an order for an Investment Bullion Product in response to an advertisement and the price has increased from the advertisement, we will contact you to confirm whether you wish to proceed at the higher price. If we do not obtain your agreement within 24 hours of receiving your order, we will cancel and return any payments made as soon as reasonably practicable.
A 19. QUALITY
19.1 All images on the Website or in advertising materials are for illustrative purposes only. We cannot guarantee you will get the exact Product or packaging pictured. Images may be generic for a type of Product and not the specific item you purchase. Due to the nature of Products (including second-hand), Products of the same type may vary in packaging and may have imperfections (e.g., not pristine, scuffs or scratches; presentation boxes/lining may be stained or discoloured). Products are graded by condition; images may not display the exact Product or grade you are purchasing. Rely on the written description when deciding to purchase.
A 20. NOVATION
20.1 We may appoint another entity to take over all or some of our rights and obligations under these Terms (the “New Entity”), and you consent to us transferring by way of novation those rights/obligations to the New Entity. We shall notify you of the effective date as soon as reasonably practicable. From that date, references to “Bullionjoy”, “we”, “us” or “our” shall be read as references to the New Entity.
A 21. GOVERNING LAW AND JURISDICTION
21.1 If you are a consumer, these Terms and any dispute or claim arising out of or in connection with them shall be governed by English law. You and we both agree that the courts of England and Wales will have exclusive jurisdiction. Nothing in these Terms overrides any mandatory laws of the country in which you have your usual residence.
21.2 If you are a business, these Terms and any dispute or claim (including non-contractual disputes or claims) shall be governed by and construed in accordance with English law. We both agree that the courts of England and Wales shall have exclusive jurisdiction.
A 22. MISCELLANEOUS
22.1 These Terms take effect from the earlier of the date you start using our Products/services, or when we accept any order from you.
22.2 Each party is an independent contractor and shall not hold itself out as agent of the other. Nothing in these Terms creates a partnership, agency, employment or joint venture.
22.3 Each provision of these Terms is separate, severable and enforceable. If any provision (or part-provision) is or becomes invalid, void, illegal or unenforceable, it shall be deemed deleted, without affecting the validity/enforceability of the rest. The parties shall negotiate in good faith a replacement that achieves the intended commercial result.
22.4 You may not assign, lien, mortgage, transfer, charge or otherwise encumber any of your rights or obligations under these Terms.
22.5 We may assign the benefit of these Terms without restriction subject to applicable law and regulation.
22.6 The parties intend that any New Entity shall have the right to enforce any rights granted to it under these Terms pursuant to the Contracts (Rights of Third Parties) Act 1999. Save as aforesaid, no other person has rights to enforce these Terms. The consent of any third party is not required for any variation or termination of these Terms.
22.7 No variation or waiver of these Terms is effective unless agreed by us explicitly in writing. No failure or delay by us to exercise any right, power or remedy operates as a waiver; nor does any single or partial exercise preclude any further exercise or the exercise of any other right, power or remedy.
22.8 All visits to our office must be arranged by prior appointment. We will confirm an authorised date and time for any visit. Please do not travel to our premises without written authorisation. We do not accept responsibility for any goods or documents delivered to our office without prior approval or appointment.
SECTION B: TERMS FOR BUYING PRODUCTS
B 1. INTRODUCTION
1.1 This section applies where we sell you our Products. All Products shown on our Website and in advertising materials are subject to availability.
1.2 You will own a Product once (i) you receive confirmation of our acceptance of your order; (ii) we have received the Product from our supplier (if applicable); (iii) we have received payment in full in cleared funds; and (iv) we have received any documentation we request to process your order.
B 2. PRICES
2.1 For Investment/Bullion Products, if payment (including any pre-payment or non-refundable deposit) or any required personal information is not received by the applicable deadline, the quoted price may increase to reflect market fluctuations and you must pay the difference to obtain the Product.
2.2 Where you ask us to procure Product(s) for you or place an order with a value of £20,000 or more, we will require a non-refundable deposit to secure your order for this service. You accept this deposit is a proportionate fee for the sourcing service already provided by us in the event you exercise any cancellation right after instructing us to proceed.
2.3 Where we agree you may make a pre-payment, that payment is an estimate and subject to fluctuations until received by us, after which we shall fix the price and confirm the final amount. If you then decide not to proceed, we may deduct from any reimbursement an amount to cover our loss and reasonable administrative expenses (see A 10).
2.4 See A 9 for payment information.
B 3. FAULTY PRODUCTS
3.1 If you consider any Product we provide is faulty or misdescribed, you have up to 14 days to request a refund. You must return the Product(s) to us as soon as reasonably practicable in accordance with our reasonable instructions and take reasonable care of them while in your possession. If, after inspection, the Product(s) is found to be faulty, we will issue a replacement or refund the price in full. If the products are not deemed to be faulty upon inspection, it will be returned to you upon receiving payment of any applicable delivery charges.
3.2 We will process any refund due within 14 days of confirming via e-mail, post or telephone that you are entitled to a refund. See A 15 for refunds.
SECTION D: TERMS FOR VAULTED STORAGE
D 1. INTRODUCTION
1.1 You may choose to use our vaulted storage services for bullion-grade precious metal (“Stored Products”) on an allocated and segregated basis.
1.2 You may either:
1.2.1 at the time of purchasing a Product, request that it be held by us as a Stored Product; or
1.2.2 deliver eligible asset(s) to us to be held as Stored Product(s). We reserve the right, at our sole discretion, not to agree to store any asset or Product (without liability).
1.3 If you deliver eligible asset(s) to us, you must deliver to our office (by appointment only) (or other location we agree in writing). You may be required to sign an inventory specifying the description and condition of the asset(s) at delivery.
D 2. STORAGE
2.1 Subject to D 2.2 and D 2.3, all Stored Products will be:
2.1.1 stored in one of our dedicated strong rooms in the United Kingdom; and
2.1.2 identifiable as belonging to you.
2.2 If we agree to store your Stored Products overseas, they will be stored with a trusted third-party vaulted storage partner.
2.3 Access to strong rooms and safes is restricted to authorised personnel only. We reserve the right to conduct audits of any Stored Products (annually and at other reasonable times) and to grant our professional advisers access for audit purposes.
D 3. LEGAL TITLE
3.1 Legal title to your Stored Products (subject to A 13) remains with you at all times (as between you and Bullionjoy).
D 4. FEES
4.1 Storage fees are calculated (exclusive of any applicable VAT) monthly as the higher of:
• £10 + VAT (if applicable); or
• Value of Stored Products × relevant percentage / 12 + VAT (if applicable), where:
4.1.1 the value is calculated by multiplying the weight in grams by the average price per gram (being the average of the highest and lowest price per gram on our Website in the 30-day period before the invoice date); and
4.1.2 the relevant percentage is as advertised on the storage page of our Website at the time you place your order (calculated in ounces to 4 decimal places).
4.2 Fees vary each month with the value of Stored Products. The first billing month (which may not be a complete calendar month) begins on the date we take delivery of the Stored Products and on the 1st of the next month; thereafter each billing month begins on the 1st. Fees for the first two billing months are invoiced on or around the start of the second billing month; subsequent fees are invoiced monthly at the start of each month.
4.3 If you place an order for storage of Products not purchased from us, we may charge an additional valuation and administration fee of £60 (exclusive of VAT if applicable) payable when you place the storage order. We may amend our fee calculation method if we do not offer for sale the type of Product you wish to store.
4.4 Additional fees may be payable, e.g., if you request overseas storage and/or return delivery.
4.5 For overseas storage, in addition to D 4.1 fees, you must also pay an additional sum reflecting third-party storage costs, administration and delivery charges. We will notify you of this sum in advance. If third-party costs increase, we may immediately pass such increase to you via an immediate increase to monthly fees.
4.6 If you withdraw Stored Products from us, our Delivery Fees apply (see A 9.8 and A 9.9).
4.7 After termination of a storage contract, you continue to be liable for storage fees until you take delivery. Delivery Fees also apply if, on termination, you request delivery to you or a person on your behalf. We take reasonable care to ensure storage fees are correct when notified; if an error occurs, we will adjust future billing months accordingly after notifying you.
D 5. TAKING STORED PRODUCTS OUT OF STORAGE
5.1 Subject to paying any fees due, you may request return of any Stored Products at any time and either collect from our office (by appointment only) or we will deliver in accordance with A 11, subject to applicable Delivery Fees (see A 9.8).
5.2 We may withhold release until:
5.2.1 all fees, Delivery Fees and other charges have been received by us in cleared funds;
5.2.2 we have received adequate proof of identification, and
5.2.3 any other due diligence checks to ensure you are the owner are completed (such as only allowing delivery to your billing address).
5.3 If you take any Stored Product out of storage, you are deemed to have served notice to terminate storage for that Stored Product unless you notify us otherwise in writing. If you do not wish to terminate, we reserve the right to charge an administration and valuation fee when placing it back into storage, charged at £60 per hour (excluding VAT if applicable), minimum £60 (excluding VAT if applicable).
5.4 Once your Stored Products have been delivered to you, if you wish to place them back in storage with us, you are responsible for arranging and paying for their return to us (or to the agreed international storage location).
SECTION E: SELLING TO BULLIONJOY
E 1. INTRODUCTION
1.1 We may, at our sole discretion, agree to purchase from you any gold, silver, platinum, palladium, brass, copper or other precious metal or base metal goods (including UK coins, bars and medallions) or jewellery products or similar goods you wish to sell to us (together, “Goods”).
1.2 To sell Goods to us, you need to:
1.2.1 inform us of the Goods you wish to sell by delivering the Goods to our office (by appointment only) in accordance with E 2; and
1.2.2 complete our sell form (the “Sell to Bullionjoy Form”) (available on the Website) and include it with your Goods.
E 2. DELIVERY
2.1 To sell Goods to us, deliver the Goods to our office:
2.1.1 by hand;
2.1.2 using an insured courier or Royal Mail Special Delivery; or
2.1.3 in tamper-proof packaging issued by us in accordance with E 2.4 (“Bullionjoy Packaging”), in which case we shall arrange collection from you.
2.2 We strongly recommend that:
2.2.1 Goods are delivered in batches of less than £20,000 if they are delivered in Bullionjoy Packaging (if eligible) or using Royal Mail Special Delivery;
2.2.2 if you are using a delivery service, you ensure that the Goods are insured up to their value; or
2.2.3 you bring them into the office.
2.3 You are responsible for:
2.3.1 ensuring Goods are properly packed and secured to reach us in good condition; and
2.3.2 (as applicable) our Delivery Fees (see A 9.8 and A 9.9) or the costs you incur arranging delivery to our office.
Delivery to us via Bullionjoy Packaging
2.4 Bullionjoy Packaging is available only for (i) bullion Goods and (ii) other Goods we agree at our sole discretion.
2.5 If you wish to use Bullionjoy Packaging, inform us via telephone and provide a description of the Goods and the collection address. We will inform you of the date/time for collection by email or telephone.
2.6 Delivery occurs on collection of the Goods by our courier from the agreed address.
2.7 We will purchase insurance to cover loss of Goods during transit up to the lower of: (i) the value of the Goods (based on metal value determined by us from your description); (ii) for kilo bars of gold or silver only, a maximum of £60,000 per parcel; or (iii) for other Goods, a maximum of £20,000 per parcel. Our total liability for loss during transit is limited to amounts received from the insurer, which we pass on to you in accordance with A 8.4. This insurance does not cover damage to Goods during transit.
2.8 You are liable to pay our Delivery Fees (see A 9.8 and A 9.9) if using Bullionjoy Packaging.
2.9 If we issue a confirmation that we are prepared to purchase the Goods (the “Purchase Confirmation”) and you accept, our Delivery Fees will be deducted from the price we pay for the Goods (the “Purchase Price”). In all other cases, you must pay Delivery Fees in full prior to return of the Goods.
Delivery Service (You arrange)
2.10 If you arrange delivery using a delivery service, each delivery must be accompanied by:
2.10.1 a Sell to Bullionjoy Form or a covering letter specifying your contact details, the type and quantity of Goods, and your payment details; and
2.10.2 a delivery note specifying: (i) any special storage or handling instructions; (ii) if deliveries are by instalments and, if so, the outstanding balance; and (iii) whether you require us to return any packaging material (return subject to Delivery Fees at your cost).
2.11 For jewellery and similar Goods, you may also be asked to provide proof of ownership (e.g., receipt or insurance valuation).
2.12 Where you use a delivery service, delivery occurs when a Bullionjoy staff member signs to accept delivery at the office. If you use a non-signed-for service, it is your responsibility to prove we received the Goods.
Delivery by Hand
2.13 If you deliver in person, delivery occurs upon handing over the Goods to us at the office and us issuing a delivery receipt. No receipt will be issued if you are not required to leave the Goods with us for Inspection (see E 3).
Liability for Delivery
2.14 We accept no liability whatsoever:
2.14.1 for any damage to Goods during transit to the office (regardless of delivery method); or
2.14.2 for any Goods lost or stolen during transit to the office, unless Bullionjoy Packaging was used and we receive an insurance pay-out for loss of the Goods, we will pass that pay-out to you in accordance with A 8.4.
E 3. INSPECTION
3.1 On receipt, we shall weigh and inspect the Goods to check they conform with the specifications in the Sell to Bullionjoy Form (the “Inspection”) and to determine the Purchase Price.
3.2 If delivered in person and you remain present, the Inspection will be conducted in front of you where practicable. If not practicable, or if you are not present (including where Goods were posted), the Inspection will be conducted under a camera and filmed.
3.3 In some cases, it may not be practicable to conduct the Inspection immediately (e.g., awaiting a specialist valuer). Jewellery may need to be left for later Inspection. We may at our discretion allow you to leave Goods for later Inspection.
3.4 If Goods are not hallmarked (e.g., jewellery), you may be charged a fee (as agreed before Inspection) for Inspection. This fee is deducted from the Purchase Price or, if you decide not to sell or Goods are not genuine, must be paid (using methods in A 9) before we return the Goods.
3.5 Unless expressly requested by you, we may conduct acid testing as part of Inspection. You acknowledge this may damage the Goods and reduce value. We are not liable for any loss/damage resulting from acid testing undertaken.
3.6 We may need to clean Goods during Inspection (particularly jewellery and coins). You acknowledge cleaning may damage Goods (e.g., loosening stone settings) and we are not liable for any loss/damage resulting from cleaning for Inspection.
3.7 Following Inspection, if we determine the Goods are:
3.7.1 of a different specification to the Sell to Bullionjoy Form, we will provide a revised offer, which you may accept or reject (if rejected, Goods are returned or may be collected);
3.7.2 not genuine, we shall notify you in writing or verbally and the Goods will be returned or may be collected.
3.8 If we return Goods to you, our Delivery Fee applies (see A 9.8 and A 9.9) and any Goods over £60 will be insured in accordance with A 11. If you do not wish to collect or take delivery, we will dispose of the Goods for you at no cost.
E 4. PURCHASE CONFIRMATIONS
4.1 After Inspection, we shall inform you whether we wish to purchase any Goods which have passed Inspection (the “Inspected Goods”) and, if so, the Purchase Price. We are under no obligation to issue a Purchase Confirmation or purchase any Goods, and you are under no obligation to accept one.
4.2 If we wish to issue a Purchase Confirmation, we shall inform you in writing. If we agree orally to issue a Purchase Confirmation, we shall use reasonable endeavours to send it in writing within two Working Days of that oral agreement.
4.3 The Purchase Confirmation specifies the type/quantity of Inspected Goods and the proposed Purchase Price. It constitutes an offer by us and remains valid for 1 Working Day (the “Acceptance Period”).
4.4 If you do not accept within the Acceptance Period, we may at our discretion issue a revised Purchase Confirmation and amend the Purchase Price and/or charge an administration fee for issuing the new Purchase Confirmation. If revised, the Acceptance Period restarts from the date of the new Purchase Confirmation. If not revised, the Goods shall be returned to or collected by you.
4.5 Prior to your acceptance, we may amend or cancel a Purchase Confirmation at any time without liability by informing you.
4.6 A Purchase Confirmation is deemed accepted on the earlier of: (a) your written or verbal acceptance; and (b) you doing any act consistent with acceptance. At this point both parties are bound, and it cannot be cancelled or amended without mutual consent. We may resell the Goods as soon as you have accepted a Purchase Confirmation.
4.7 We shall inform you if we decide not to issue a Purchase Confirmation, and you shall inform us if you decide not to accept. In each case, the Goods shall be returned to or collected by you. If we return Goods, Delivery Charges apply (see A 9.8 and A 9.9), and any Goods over £60 will be insured.
E 5. PURCHASE PRICE
5.1 We shall inform you of the Purchase Price when issuing the Purchase Confirmation. The Purchase Price is determined by us in our absolute discretion.
5.2 For bullion Goods, you may telephone us in advance of delivery (or, if using Bullionjoy Packaging, the date our courier collects) and we may at our discretion agree and obtain a fixed metal price with you (based on the live UK rate at the time of the call or collection date). We will honour this rate upon receipt of the Goods, provided they are as described by you and: (i) are received by us within 24 hours of the fixed rate call; or (ii) if using Bullionjoy Packaging, they are collected on the agreed date. If Goods are not received within that period or the courier cannot collect on the agreed date, we may require you to agree a revised price to proceed, using the fixed metal price or the live rate at the time of opening the parcel on the day of receipt. If we agree a new rate after a fixed rate, we may include an administration fee for the rate alteration.
5.3 The Purchase Price will be reduced if the Goods are (in our opinion) marked, damaged, worn or not as described, by an amount reflecting the difference in value.
5.4 Unless agreed otherwise, the Purchase Price excludes VAT, which we shall additionally be liable to pay at the prevailing rate, subject to receipt of a valid VAT invoice from you. No additional charges are payable by us unless agreed in writing. In particular, we are not liable to reimburse you for insurance, packaging and/or delivery sums you paid.
E 6. RECEIVING PAYMENT
6.1 Unless agreed otherwise, payment is in GBP. You will receive payment: (i) by Bank Transfer or CHAPS to the bank account you specify in writing; The following apply:
6.1.1 payments other than in GBP, USD or EUR may incur an additional charge to cover our conversion costs into GBP;
6.1.2 we may in our sole discretion decline to make payment by CHAPS;
6.1.3 payment by CHAPS incurs a £20 fee, deducted from the Purchase Price;
6.1.4 if you request cash, you must provide photographic identification and attend the office in person on the date/time we direct; and
6.1.5 payment in cash may be subject to a fee, determined at our discretion, as a percentage of the Purchase Price.
6.2 We shall inform you at the time of issuing the Purchase Confirmation when payment will be made.
6.3 We may make payment in instalments at our discretion and will specify the number of instalments and payment dates in the Purchase Confirmation.
6.4 If we mistakenly pay more than the Purchase Price (due to human error, system malfunction or otherwise), you shall immediately refund the overpayment (using the same method) upon becoming aware (whether notified by us or otherwise).
6.5 We may set off any amounts owed to us by you against any amounts payable by us to you.
E 7. RETURNS
7.1 If, following Inspection, the Goods are not genuine or not as described, or we decide not to issue a Purchase Confirmation, or you decide not to sell (either by choosing not to accept or by failing to accept within the Acceptance Period), you shall pay a Return Cost comprising our administrative costs (e.g., Inspection) and Delivery Fees (see A 9.8 and A 9.9). The Return Cost must be paid in full (using methods in A 9) before we return the Goods.
7.2 Alternatively, you may collect the Goods from the office within five Working Days of determining that a Purchase Confirmation will not be agreed. Bring proof of postage or delivery receipt (as applicable) and any other information we require to confirm your identity.
7.3 If, within 28 days of being required, you fail to pay the Return Cost (and any other outstanding sums) or fail to collect the Goods, we shall store them for a maximum of 6 months, at your cost. If the Goods are still in our possession after 6 months, we are entitled, without liability, to dispose of the Goods (including by selling to a third party) and use the proceeds to settle any fees owed to us, with any remainder handled in accordance with applicable law.
E 8. LEGAL TITLE
8.1 Legal title to the Goods transfers to us as soon as you accept a Purchase Confirmation (including over the telephone).
8.2 If the Goods have not been purchased by us but remain in our possession following the 6-month period in E 7.3, legal title transfers to us at that point.
E 9. RISK
9.1 Where you use a delivery service or deliver in person, risk remains with you until completion of delivery to us in accordance with E 2. If you deliver by hand and are not required to leave the Goods for Inspection, risk remains with you while the Goods are at the office.
9.2 Where you use Bullionjoy Packaging, we will pass to you any insurance pay-out we receive (see E 2.7). We accept no further liability for loss or damage not covered by the insurance pay-out until we receive the Goods from our courier.
9.3 For any Goods that are not genuine, or which we do not wish to purchase, or which you choose not to sell (including by not accepting within the Acceptance Period), risk transfers back to you on the earliest of: (i) your receipt; (ii) your collection; (iii) five Working Days following our notice of non-purchase or your notice of non-acceptance; or (iv) five Working Days after the Acceptance Period lapses.
9.4 If the Goods are lost or damaged during delivery back to you, we shall submit a claim to the courier/insurer and pass on any sums received, but otherwise accept no liability for such loss or damage.
E 10. WARRANTIES
10.1 You warrant, represent and undertake that in respect of any Goods delivered to us for sale:
10.1.1 you have full legal and beneficial title to and are entitled to sell the Goods;
10.1.2 the Goods do not, and use of them shall not, infringe intellectual property, moral or other proprietary rights of any third party; and
10.1.3 on delivery, the Goods shall: (i) conform with your description; (ii) be free from material defects in design, material and workmanship; (iii) be of satisfactory quality (within the meaning of the Sale of Goods Act 1979, as amended); and (iv) comply with all applicable statutory and regulatory requirements.
SCHEDULE 2: Cancellation Form for Non-Bullion Products
To AGL T/a Bullionjoy
Address: The CIBA Building
146 Hagley Road
Birmingham
B16 9NX
Email: info@bullionjoy.com
I/We [] hereby give notice that I/We [] cancel my/our [*] contract of sale of the following services,
Ordered on [*],
Name of consumer(s),
Address of consumer(s),
Signature of consumer(s) (only if this form is notified on paper),
Date
[*] Delete as appropriate.