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Terms and conditions for sale and purchase of bullion products
1. These terms
1.1. What these terms cover. These are the terms and conditions on which we supply or purchase gold products (investment gold such as bullion or gold coins, non bullion products, jewellery). We advertise the products available for sale on our website from time to time. Section A deals with general terms applicable to both sale or purchase. Section B deals with sale terms and Section C deals with purchase terms. Click on the links below for the required Sections:
Section A - General terms and conditions
Section B - Terms and conditions applicable to Sale of goods
Section C - Terms and conditions applicable to purchase of goods
1.2. Why you should read them. Please read these terms carefully before you submit your order to us. These terms tell you who we are, how we will provide products to you or purchase products from you, how you and we may change or end the contract, what to do if there is a problem and other important information. If you think that there is a mistake in these terms, please contact us to discuss.
1.3. Are you a business customer or a consumer? In some areas you will have different rights under these terms depending on whether you are a business or consumer. You are a consumer if:
- You are an individual.
- You are buying products from us wholly or mainly for your personal use (not for use in connection with your trade, business, craft or profession).
Provisions specific to consumers only are marked with an asterisk (*).
Section A - General Terms and Conditions
1.4. If you are a business customer this is our entire agreement with you. If you are a business customer these terms constitute the entire agreement between us in relation to your purchase. You acknowledge that you have not relied on any statement, promise, representation, assurance or warranty made or given by or on behalf of us which is not set out in these terms and that you shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in these terms and conditions.
2. Information about us and how to contact us
2.1. Who we are. We are GBL International Limited, a company registered in England and Wales. Our company registration number is 08101794 and our registered office is at 215 The Broadway, Southall, Middlesex, UB1 1NB. Our registered VAT number is 449836542.
2.2. How to contact us. You can contact us by telephoning our customer service team at 02035001111 or by writing to us at support@goldbank.co.uk and 215 the broadway southall UB1 1NB.
2.3. How we may contact you. If we have to contact you, we will do so by telephone or by writing to you at the email address or postal address you provided to us in your order. Provisions specific to consumers only are marked with an asterisk (*).
2.4. “Writing” includes emails. When we use the words “writing” or “written” in these terms, this includes emails.
3. Our contract with you
3.1. How we will accept your order or offer. When you order goods for purchase from our website, we refer to it as your Order and when you make a request for us to buy gold, silver or other metals which you own from you (Your Goods), we refer to it as your Offer.
Our acceptance of your Order or Offer and a contract will come into existence between you and us, when:
(i) in the case of an Order, when we email you an email confirmation about your Order; or
(ii) in the case of an Offer, when we accept for your to deliver Your Goods after you have agreed to our quote (we refer to it as Our Quote); and
(iii) both for the Order or Offer the following preconditions (Preconditions) below have been satisfied:
a. We have received ID from you when requested and your ID is verifiable and verified by us.
b. We have received payment in full, from you for your Order whether you have elected to pay by debit card, credit card or bank transfer.
c. (When you are selling Your Goods) you must meet our Selling Your Goods Requirements and we have received full details of your payment account and the metal. Our Selling Your Goods Requirements are as follows:
i. you must be the sole and absolute owner of Your Goods;
ii. your description of Your Goods must be true, complete, accurate and not misleading and is subject to being verified by us when we receive Your Goods;
iii. you must deliver Your Goods safely to us, pay for your travel or delivery costs, and bear the risk of loss, theft or damage of Your Goods when it is in transit.
d. No default or problem has arisen.
e. There is no reason for us not to accept the Order. If we are unable to accept your Order, we will inform you of this and will not charge you for the goods. This might be because the goods are out of stock, because of unexpected limits on our resources which we could not reasonably plan for, because a credit reference we have obtained for you does not meet our minimum requirements, because we have identified an error in the price or description of the goods or because we are unable to meet a delivery deadline you have specified.
3.2. We only sell to the UK. Our website is solely for the promotion of our products in the UK. Unfortunately, we do not accept Orders or Offers from addresses outside the UK.
4. No Investment Advice
We are not authorised by the Financial Conduct Authority and cannot give any advice including investment advice such as comparing precious metals with regulated investments. We also cannot provide advice on any potential tax implications of you entering into the contract with us. It is a condition of the contract that if you need investment or tax advice in relation to goods purchased from us or Your Goods sold to us, you must rely on your own financial, tax and/ or accounting advisers.
5. *Information we provide
5.1. Although we make reasonable efforts to provide complete and accurate information on our website about the goods we sell, sometimes the information either on our website or Our Quote in relation to your Offer may not be complete or accurate. We may correct or change any information for goods requested in your Order or information in Our Quote at any time before we accept your Order or after we have issued Our Quote. If we need to make corrections or changes we will tell you so you can decide whether to withdraw your Order or Offer, or confirm it.
5.2. Risks Notice We sell goods and buy Your Goods based on the global metal market’s prices, which are outside our control, and change frequently. The historical performance of our price, or the global metal market’s prices of goods and metal is not a reliable indicator of future prices.
6. Price and payment
6.1. Where to find the price for the product. The price of the product (which includes VAT depending on the product purchased) will be the price indicated on your Order or on Our Quote. We take reasonable care to ensure that the price of the product advised to you is correct. However please see clause 5.1 for what happens if we discover an error in the price of the product you order or in Our Quote.
6.2. When you must pay and how you must pay. For Orders and Offers, we accept payment to us and to you with debit cards and credit cards as shown on our website and also by cash up to a limit of £5000.
6.3. Our right of set-off if you are a business customer. If you are a business customer you must pay all amounts due to us under these terms in full without any set-off, counterclaim, deduction or withholding (other than any deduction or withholding of tax as required by law).
6.4. What to do if you think an invoice is wrong. If you think an invoice is wrong please contact us promptly to let us know. You will not have to pay any interest until the dispute is resolved.
7. *Our responsibility for loss or damage suffered by you if you are a consumer
7.1. We are responsible to you for foreseeable loss and damage caused by us. If we fail to comply with these terms, we are responsible for loss or damage you suffer that is a foreseeable result of our breaking this contract or our failing to use reasonable care and skill, but we are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the contract was made, both we and you knew it might happen, for example, if you discussed it with us during the sales process.
7.2. We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors; for fraud or fraudulent misrepresentation; for breach of your legal rights in relation to the products and for defective products under the law.
7.3. We are not liable for business losses. If you are a consumer we only supply the products to you for domestic and private use. If you use the products for any commercial, business or re-sale purpose our liability to you will be limited as set out in clause 7.1.
8. Our responsibility for loss or damage suffered by you if you are a business
8.1. Nothing in these terms shall limit or exclude our liability for death or personal injury caused by our negligence, or the negligence of our employees, agents or subcontractors (as applicable), fraud or fraudulent misrepresentation, breach of your statutory rights, and any matter in respect of which it would be unlawful for us to exclude or restrict liability.
8.2. Except to the extent expressly stated in clause 14.1 all terms implied by sections 13 to 15 of the Sale of Goods Act 1979 and sections 3 to 5 of the Supply of Goods and Services Act 1982 are excluded.
8.3. We shall not be liable to you, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for any loss of profit, or any indirect or consequential loss arising under or in connection with any contract between us.
8.4. Subject to clauses 8.1, 8.2 and 8.3, any other liabilities of ours not excluded or limited as above are limited to the price stated in the accepted Order or in Our Quote. If a price is not ascertainable, these liabilities are limited to £100.
9. Cancellation Rights
9.1. You don’t have statutory right to cancel the contract if you change your mind. This is because the prices of the goods are subject to fluctuation.
10. Termination and charges
10.1. You cannot change or withdraw the Order or Offer unless we make any change under clause 5.1 and we ask you to confirm or withdraw your revised Order or Offer.
10.2. Termination by you. You can however choose to terminate your Order at any time prior to delivery or collection of your item(s). This will result in additional charges including but not limited to, a termination fee of £100 (Termination Fee) and a fee based on any adverse movement in the underlying commodity price of your item(s). Apart from that, you may not terminate the contract or any part of it except by giving us written notice after a material breach by us has occurred, or as permitted (if at all) by the Section of these terms and conditions that applies to the transaction or service.
10.3. *Termination of contract by us. Before we terminate the contract we will always consider whether any default or problem could be remedied. If it can, we will try to contact you and work with you to try and remedy the breach. However, when a default or problem in our view cannot be remedied, or it is not remedied within reasonable time after we try to contact you about it, or as a result of events beyond our reasonable control as set out in clause 16.6, we reserve the right to terminate. In this case we may terminate the contract or a particular transaction by giving you written notice, or as permitted (if at all) by a Section that applies. We can also terminate (or treat as being terminated) the contract or a particular transaction, if we are released from our obligations under the contract or in relation to the particular transaction. In addition, we may end the contract for a product at any time by writing to you if:
10.3.1. we have not received payment in full after you submitted your Order;
10.3.2. you do not, within a reasonable time of us asking for it, provide us with information that is necessary for us to provide the products, for example, identification documents satisfactory to us;
10.3.3. you do not, within a reasonable time, allow us to deliver the products to you or collect them from us or you do not deliver Your Goods to us;
10.4. *Changes to your details. If you are an account user and there is any change to the details that we required you to provide for us to set you up as an account user, you must notify us of the changes immediately. If you do not provide us with any further ID we may request from time to time, we may suspend, refuse or block access to the account, and may be entitled to terminate pending transactions or the contract. We may at our absolute discretion treat it as a default or problem.
10.5. If you are not an account user and there is any difference between the details we hold for you from an earlier or completed order or offer and the details you supply for a new order or offer, we may require you to provide full and fresh ID for us to verify in full as part of the preconditions of the new contract.
11. *Consequences of termination
11.1. If you or we terminate the contract or any part of it, all of the following consequences will apply to the contract or the part of it that is terminated:
11.1.1. You will be liable for any adverse movement in the underlying metal price based on the difference in the global market spot price from when your Order was placed or Quote accepted and when the termination is accepted by us.
11.1.2. A Termination Fee will be incurred.
11.1.3. You may have to provide payment for additional services such as delivery of goods to you.
11.1.4. All sums payable to us in respect of the period up to and including the date of termination will fall immediately due and payable. This includes sums referred to in clause 11.1 above, and fees and charges for any default or problem. You must pay those sums to us immediately.
11.1.5. Our obligations under or in connection with the contract will cease to apply, and we will no longer meet those obligations. This includes any obligation to complete transactions and/or to provide services which are terminated.
11.1.6. We do not breach the contract or any other obligation to you, or become liable to you, purely by virtue of terminating the contract or any part of it (provided we do so validly), and the same applies if you terminate validly. We also do not breach the contract or any obligation to you, or become liable to you, by virtue of exercising our remedies (provided we do so properly).
11.2. Termination or exercise of our remedies will not affect your or our accrued rights and remedies. Provisions in these terms and conditions which expressly or by implication have effect after termination will continue in full force and effect.
11.3. may withdraw the product. We may write to you to let you know that we are going to stop providing the product. We will let you know at least PERIOD in advance of our stopping the supply of the product and will refund any sums you have paid in advance for products which will not be provided.
12. If there is a problem with the product
How to tell us about problems. If you have any questions or complaints about the product, please contact us. You can telephone our customer service team at +44 203 500 1111 or write to us at support@goldbank.co.uk and Gold Bank London, 215 The Broadway, Southall, Middlesex, UB1 1NB. Alternatively, please speak to one of our staff in-store.
13. Your rights in respect of defective products if you are a consumer
If you are a consumer, we are under a legal duty to supply products that are in conformity with this contract.
14. Your rights in respect of defective products if you are a business
14.1. If you are a business customer, we warrant that on delivery any products which are goods shall:
14.1.1. conform in all material respects with their description;
14.1.2. be free from material defects in design, material and workmanship;
14.1.3. be of satisfactory quality (within the meaning of the Sale of Goods Act 1979); and
14.1.4. be fit for any purpose held out by us.
14.2. Subject to clause 14.3 , if:
14.2.1. you give us notice in writing within a reasonable time of discovery that a product does not comply with the warranty set out in clause 14.1 ;
14.2.2. we are given a reasonable opportunity of examining such product; and
14.2.3. you return such product to us at our cost,
14.2.4. we shall, at our option, replace the defective product, or refund the price of the defective product in full.
14.3. We will not be liable for a product’s failure to comply with the warranty in clause 14.1 if:
14.3.1. the defect arises as a result of us following any drawing, design or specification supplied by you;
14.3.2. you alter or repair the product without our written consent; or
14.3.3. the defect arises as a result of fair wear and tear, wilful damage or negligence.
14.4. Except as provided in this clause 14, we shall have no liability to you in respect of a product’s failure to comply with the warranty set out in clause 14.1 .
14.5. These terms shall apply to any replacement products supplied by us under clause 14.2 .
15. How we may use your personal information
How we will use your personal information. We will only use your personal information as set out in our PRIVACY POLICY.
16. Other important terms
16.1. We may transfer this Agreement to someone else. We may transfer our rights and obligations under these terms to another organisation.
16.2. You need our consent to transfer your rights to someone else (except that you can always transfer our guarantee). You may only transfer your rights or your obligations under these terms to another person if we agree to this in writing. However, if you are a consumer you may transfer our guarantee at clause 13 to a person who has acquired the product. We may require the person to whom the guarantee is transferred to provide reasonable evidence that they are now the owner of the relevant product.
16.3. Nobody else has any rights under this contract (except someone you pass your guarantee on to). This contract is between you and us. No other person shall have any rights to enforce any of its terms, except as explained in clause 16.2 in respect of our guarantee. Neither of us will need to get the agreement of any other person in order to end the contract or make any changes to these terms.
16.4. If a court finds part of this contract illegal, the rest will continue in force. Each of the paragraphs of these terms operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.
16.5. Even if we delay in enforcing this contract, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under these terms, or if we delay in taking steps against you in respect of your breaking this contract, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date. For example, if you miss a payment and we do not chase you but we continue to provide the products, we can still require you to make the payment at a later date.
16.6. Events beyond our control. We will not be liable to you as the result of any delay or failure in the performance of our obligations under or in connection with the contract which results from an event or occurrence which is beyond our reasonable control. In such circumstances we may choose to terminate the contract or the affected part(s) of it at any time by giving you written notice.
16.7. Which laws apply to this contract and where you may bring legal proceedings if you are a consumer. These terms are governed by English law and you can bring legal proceedings in respect of the products in the English courts. If you live in Scotland you can bring legal proceedings in respect of the products in either the Scottish or the English courts. If you live in Northern Ireland you can bring legal proceedings in respect of the products in either the Northern Irish or the English courts.
16.8. Which laws apply to this contract and where you may bring legal proceedings if you are a business. If you are a business, any dispute or claim arising out of or in connection with a contract between us or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales and the courts of England and Wales shall have exclusive jurisdiction to settle any such dispute or claim.
Section B - Buying goods from Us
1.1. Your order number. We will assign an order number to your Order and tell you what it is when we accept your Order. It will help us if you can tell us the Order number whenever you contact us about your Order.
17. Our products
17.1. Products may vary slightly from their pictures. The images of the products on our website are for illustrative purposes only. Although we have made every effort to display the colours accurately, we cannot guarantee that a device's display of the colours accurately reflects the colour of the products. Your product may vary slightly from those images.
18. Your rights to make changes
If you wish to make a change to the product you have ordered please contact us. We will let you know if the change is possible. This usually depends on the product you have purchased. If it is possible, we will let you know about any changes to the price of the product, the timing of supply or anything else which would be necessary as a result of your requested change and ask you to confirm whether you wish to go ahead with the change.
19. Our rights to make changes
19.1. We may make the following changes to the product, but if we do so we will notify you and you may then contact us to end the contract before the changes take effect and receive a refund for any products paid for but not received:
19.1.1. to reflect changes in relevant laws and regulatory requirements;
19.1.2. if the product has been discontinued; and
19.1.3. not in stock.
20. Providing the products
20.1. Delivery costs. The costs of delivery will be as displayed to you on our website.
20.2. When we will provide the products. During the order process we will let you know when we will provide the products to you. We will deliver them to you by registered post as soon as reasonably possible and in any event within 30 days after the day on which we accept your order.
20.3. We are not responsible for delays outside our control. If our supply of the products is delayed by an event outside our control then we will contact you as soon as possible to let you know and we will take steps to minimise the effect of the delay. Provided we do this we will not be liable for delays caused by the event, but if there is a risk of substantial delay you may contact us to end the contract and receive a refund for any products you have paid for but not received.
20.4. *Collection by you. If you have asked to collect the products from our premises, you can collect them from us at any time during our working hours of 9.00 AM to 6.00 PM on weekdays (excluding public holidays).
20.5. *If you are not at home when the product is delivered. If no one is available at your address to take delivery and the products cannot be posted through your letterbox, we will leave you a note informing you of how to rearrange delivery or collect the products.
20.6. *If you do not re-arrange delivery. If you do not collect the products from us as arranged or if, after a failed delivery to you, you do not re-arrange delivery or collect them we will contact you for further instructions and may charge you for storage costs and any further delivery costs. If, despite our reasonable efforts, we are unable to contact you or re-arrange delivery or collection we may end the contract and clause 11 will apply.
20.7. When you become responsible for the goods. You will be responsible for the products from the time we deliver the product to the address you gave us or you collect it from us in person.
20.8. *When you own goods. You own a product which is goods once we have received payment in full.
20.9. *What will happen if you do not give required information to us. We may need certain information from you so that we can supply the products to you, for example, identification documents, utility bills, recent bank statements. We will contact you to ask for this information. If you do not give us this information within a reasonable time of us asking for it, or if you give us incomplete or incorrect information, we may either end the contract (and clause 11.1 will apply) or make an additional charge of a reasonable sum to compensate us for any extra work that is required as a result. We will not be responsible for supplying the products late or not supplying any part of them if this is caused by you not giving us the information, we need within a reasonable time of us asking for it.
20.10. *Reasons we may suspend the supply of products to you. We may have to suspend the supply of a product to:
20.10.1. update the product to reflect changes in relevant laws and regulatory requirements;
20.10.2. make changes to the product as requested by you or notified by us to you (see clause 19.1).
20.11. *Your rights if we suspend the supply of products. We will contact you in advance to tell you we will be suspending supply of the product, unless the problem is urgent or an emergency. If we have to suspend the product for longer than thirty days we will adjust the price so that you do not pay for products while they are suspended. You may contact us to end the contract for a product if we suspend it, or tell you we are going to suspend it, in each case for a period of more than thirty days and we will refund any sums you have paid in advance for the product in respect of the period after you end the contract.
Section C - Selling Your Goods
Your attention is particularly drawn to what is said in the clauses marked ‘*’ in Section A and this Section C.
HOW YOU SELL YOUR GOODS
Warning: the prices of metal are subject to fluctuations: see clause 5.2 “Risk Notice”, and clause 16.6 “Events beyond our control”. When you sell Your Goods the payment you receive from us could be less than you original paid for it.
21. *Ordering process
To sell Your Goods to us, clause 3 above applies. Your Offer must specify which item(s) you wish to sell. Before we will buy Your Goods from you, the preconditions must be met.
22. Price
The price of our Quote will usually be based on the then current global market spot price for the quantity and type of Your Goods as stated on our Quote.
Please Note: If when received, the quantity or type of Your Goods differs from that originally agreed in the Quote we will provide an alternative Quote which you may choose to accept or decline.
23. Your warranty when we buy
You warrant to us that you meet our Selling Your Goods Requirements. A warranty is a statement of truth. If it proves to be untrue, you will be liable to us for all loss and damage that we suffer as a result.
24. *Assurance from you
You must do and complete all acts, deeds and things, and sign all documents, as necessary to complete the sale and make us the legal owner. If another person (such as a co-owner or trustee) needs to do anything to make us the legal owner, you must ensure they do what is necessary. If there is anything that you or another person could do that would prevent us from becoming and remaining the legal owner, you must ensure those things are not done. If you fail to meet all the requirements fully and we ask you to put them right it will be a default or problem, and you must put things right immediately.
25. Packaging and delivery
You are responsible for packaging Your Goods and evidence of your ownership of it as well as other items required to meet the preconditions, and for delivering them to us or arranging a carrier to deliver it to us for you. You are responsible for any costs of packaging, travel and your chosen carrier’s charges.
26. *Ownership and your liability
You bear the risk of loss, damage or theft of Your Goods or (if applicable) evidence of your ownership and other items we require you to supply to us, until we are the legal owner or have confirmed receipt in writing or by telephone to you. The time and date when we become the legal owner of Your Goods is the time and date when, subject to the preconditions, we confirm receipt of the metal (as applicable) and confirm in writing or by telephone to you that we accept your Offer.
27. *Our remedies if things go wrong
We will always consider whether a situation can be fixed. If it can, we will try to contact you and work with you to try and sort out what has gone wrong. If in our view it cannot be sorted out, or if we try but it is not resolved, we may exercise any of our remedies in these terms and conditions. In the case of a material breach by you or insolvency on your part we may terminate the contract.
28. Our obligations when buying
Subject as marked ‘*’ in this clause 29 and Section A, and to the preconditions and our rights and remedies under these terms and conditions, upon receipt by us of Your Goods if we choose to accept the Offer we will confirm our acceptance to you in writing or by telephone and make payment to you for Your Goods in the amount stated in the Quote.
29. Payment
We will make payment on a working day. Normally we will make payment on the same date that we send our Quote. For larger offers, however, and particularly where there are events beyond our reasonable control (see clause 16.6) we will make payment in accordance with our obligations above within 7 working days of your acceptance of our Quote within its validity period (as stated in our Quote) failing which, no later than 7 days of the Quote, provided you have accepted the Quote in this time.
30. Completion
Our obligations to buy Your Goods are completed when we become the legal owner of Your Goods.