Introduction

The two parties agreed pursuant to the terms and conditions subject to which all transactions regarding investments in precious metals (gold, silver, platinum and palladium) shall be done.

And the parties have agreed on the following:

Definitions

• Bullion means precious metal bars and coins (gold, silver, platinum and palladium) that are designated through their sale or purchase in units of ounces, kilograms and/or ten tolas and are considered high quality precious metals, unless stated otherwise by the company, and comply to the minimum purity requirements of the Dubai Good Delivery (DGD) and London Good Delivery (LGD) standards.
• Bullion type determination and distribution shall be done only upon client request of physical gold delivery approved by the company. Upon request for physical delivery, the bullion type, location of the physical delivery, commodity shipping fees and physical redemption fees shall be determined subject to the agreement entered by both parties.
• All transactions of precious metals are subject to the laws and regulations of the Department of Economic Development of the Dubai Government and Dubai Multi Commodities Center (DMCC).
• All bullion determined for distribution is subject to the laws and regulations of the delivery location.
• All risks that may arise from the delivery process will be the client’s or his attorney’s personal responsibility, whether positive or negative.

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

Terms and conditions

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

• All transactions agreed upon by both parties shall be subject to physical redemption fees and shipping charges (in case the client applies for commodity physical delivery) as well as the online transactions fees (commission) and the part payment requirements mentioned in the attached schedule.
• The company shall have no right to change limit orders and/or prices without informing the client three working days earlier.
• In case any payment is due by any party (company or client) because of sale and precious of precious metals, as mentioned in the below articles, the due amount shall be paid by the binding party on the due date.

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

• If bullion can’t be delivered for any legal reason, or if it should be subject to taxes, or if the company believes that it will be illegal at any time or for any involuntary or imperative reason which results in the impossibility of delivery, then in this case, the two parties shall agree that all deals affected by that reason may be liquidated where the net income shall be paid after completion of the liquidation process for all dues within only one working day.

The company shall be liable to send client account statements or any notices to the client’s email or fax, and it shall be considered received by the client on the same date of dispatching to the contact details provided by the client on the bullion account opening date.

• The two parties agreed that the company shall not accept any money unless through the bank accounts registered with it for its clients, and the company shall not accept any money remittance by third parties on behalf of the client unless through the client’s bank accounts (bank remittance or cheques).
• The two parties agreed that all payments to the company’s bank accounts in Dubai, shall be in USD, Euro or AED (or any equal amount in a local currency or to any other location determined and selected to receive payments).
  The client shall inform the company and provide it with all the documents required for proving his/her payment in any of the company approved accounts. The company shall update the client with all updates of bank remittance, cheques or cash deposits and confirm their receipt.
• In special cases, the client shall not have any right to claim compensation from the company for any losses that may arise out of any damages occurred to the client resulting from any costs, taxes, penalties or any damage whatsoever whether physical or moral, direct or indirect or for any reasons out of the company’s reasonable control, such as:

governmental or judicial damage, exchange, waiver, regulatory restrictions or to regulate decisions.

• The client shall provide the company with correct, complete and accurate details by filling the attached form called (KYC). Providing the company with incorrect information is considered an offense punishable by law. Also, the client is liable to inform the company with any updates or explanations related to this form.
• In case any article (or any part thereof) of this agreement is determined to be illegal or invalid by any judicial authority or competent court, then the remaining articles remain enforced and valid and shall not be affected negatively and shall be enforceable between the two parties.
• The two parties have agreed that in case any dispute or conflict of any type arises between them, then it will be discussed and settled amicably between them. In case a settlement can’t be reached within one week of the objection sending date, then the company shall be liable to appoint one arbitrator to settle the dispute. If the two parties and the arbitrator failed to reach a settlement, then such dispute shall be referred to arbitration in Dubai Courts for settlement, and any decision issued shall be final and binding upon both parties.
• This contract may not be terminated unless subject to prior written notice sent by any party to the other party within 7 working days. Such termination or revocation shall not negatively affect any pending and existing deals until being liquidated.

Discloser of Risks

The client shall take into his/her consideration the below mentioned risks, and shall be aware of the risks before signing this agreement:

• The company recommends the client to keep the account settlement records on his/her personal PC, as the company’s electronic copies of such records may be damaged for several reasons. It is worth mentioning that the company prints and copies the account records on weekly bases, as well as keeping all the clients’ information in huge databases saved aside to avoid its loss, and the loss of any such data is only a temporary issue that should be declared by the company.

Schedules and appendices

The company shall have the right to review part payment requirements and commissions at any time after signing this agreement in pursuant to a 3 working days’ notice to the client which is a result of changes in circumstances of the precious metals’ market.

The client will be informed of all fees related to the physical redemption of the commodity and of the shipping charges (in case the client requests physical redemption and/or delivery) via email or fax.