Precious Metal Trading Terms and Conditions

Kreatoc Zest Ltd. of Landmark House, 17 Hanover Square London W1S 1BN (the “Company”) offers precious metal coins and bullion items (the “Goods”) through its web site at (the “Web Pages”) in accordance with the following terms and conditions (the “Terms and Conditions”):

  1. The Company shall send an e-mail or paper-based invoice to the purchaser of the Goods (the “Customer”) confirming the terms upon which each transaction has been concluded (the “Confirmation”). The Confirmation shall summarise the Customer’s order as received by the Company through the Web Pages or by telephone (the “Order”).
  2. The price of the Goods shall be as shown in the Confirmation.
  3. The terms on which the Goods shall be delivered to the Customer shall be as quoted in the Confirmation.
  4. The Customer shall pay the price of the Goods by debit card, bank transfer, cheque or cash. In the case of orders undertaken by telephone, the Customer may be required to transfer to the Company’s bank account a portion of the prevailing price for the Goods (the “Security Deposit”) before proceeding with an Order. The Security Deposit will be held on account for the Customer and set off against the agreed purchase price for the Order so long as the outstanding balance is transferred to the Company’s account within 2 banking days. Where an outstanding balance is not settled within the required time, the Company shall have the right to cancel the Order and retain for itself an amount of the Security Deposit that is sufficient to compensate for any loss that it has incurred due to adverse market movements in the price of the Goods. Unused Security Deposits will be refunded in full within three business days in the event that the Customer does not proceed to purchase the Goods.
  5. In the case of a bullion bar or bullion coin, the item supplied to the Customer may not be the particular item that is imaged on the Web Pages, although the item shall in all cases meet the general specifications of weight and purity advertised. For the avoidance of doubt, a Customer who purchases a 1oz gold Krugerrand may receive a 1oz gold Krugerrand of any date of issue that the Company wishes to supply, and a Customer who purchases a 100gms bar of gold produced by a London Good Delivery refiner may receive any such 100gms bar that the Company wishes to supply. A Customer who purchases an antique coin shall receive from the Company the particular coin imaged on the Web Pages.
  6. Title to the Goods shall pass to the Customer immediately following receipt by the Company of cash or cleared funds (by bank transfer or cheque) or confirmation of debit card payment from our payment service provider, except where the Company acts as an agent on the Customer’s behalf in which case title shall pass to the Customer upon receipt of the Goods by the Company from the third party supplier.
  7. Where the Customer requests the Company to hold Goods on the Customer’s behalf, the risk of loss, damage or theft shall pass to the Customer at such time as title to the Goods passes to the Customer.
  8. The Customer shall provide the Company with details of the delivery address for the Goods (the “Nominated Delivery Address”) by telephone or through the Web Pages or by any other mutually agreed means. Where the Company or its appointed courier delivers Goods to the Nominated Delivery Address, the risk of loss, damage or theft shall pass to the Customer at such time as delivery of the Goods is first attempted by the courier (the “First Delivery Attempt”) unless the First Delivery Attempt takes place later than the time stated in the Confirmation, in which case the risk of loss, damage or theft shall pass to the Customer three days after the First Delivery Attempt.
  9. Returns and Refunds: Goods purchased from the Company are not subject to return or refund but Customers may seek a quote for repurchase of such Goods from the Customer by the Company.
  10. The Customer warrants that the Nominated Delivery Address is the address at which the title holder to the Goods is resident for tax purposes.
  11. The Company warrants that the quantity and quality of the Goods shall correspond with the description displayed in the Confirmation. Where the Customer finds a defect in the Goods, or a discrepancy between the Goods delivered and the Confirmation, he or she shall notify the Company on the same date on which the Goods were delivered by the Company to the Customer and return the Goods within a further three working days thereafter. The Company shall then refund the Customer any amounts paid by the Customer to the Company in respect of the Goods through the same medium that payment was made for the Goods in the first instance.
  12. For aggregate purchases of £10000 or more during any twelve month period, we will require identifying documentation in order to satisfy current HMRC Money Laundering Regulations. Any identification details that we take from you will be held on file for inspection by the relevant UK authorities but otherwise will not be passed to any other third party unless required by a court of law.
  13. Users of the Web Pages, including Customers, agree that the HTML pages, application servers and databases available at the Web Pages (the “Software”) are the property of the Company and that the Company holds copyright to the Software. Users of the Web Pages, including Customers, agree not to modify or copy any part of the Software, nor interfere with the normal operation of the Software for the purpose of obtaining more favourable prices for the Goods than would otherwise be available through the Web Pages.
  14. Users of the Web Pages agree not to display on any other web site price data made available through the Web Pages, nor to redistribute or resell price data from the Web Pages, nor to make illegal use of the Web Pages.
  15. In cases of manifest error, including instances in which a software malfunction has led to a significant under-pricing of the Goods, the Company shall have the right to cancel the transaction made by the Customer and refund the amount paid by the Customer by card charge-back or cheque payment within a period of seven days. For the purpose of this clause, a significant under-pricing shall be deemed to have occurred where the lowest wholesale market offer price at the time of the transaction was, pro rata to the amount of bullion contained in the Goods, more than 110% of the price agreed for the Goods.
  16. The Terms and Conditions embody the entire agreement between the Company and the Customer.
  17. Amendments to these Terms and Conditions may be made at any time at the sole discretion of the Company, but not retrospectively, and any such changes shall be posted to the Company’s web site for the purpose of notifying its users and Customers.
  18. Notifications between the parties to the Terms and Conditions shall be made in writing in paper-based or e-mail format to the addresses specified herein. Proof of posting of a paper-based notification by one party shall constitute proof of receipt of that notification by the other party as if receipt had occurred on the third business day following the date of posting. International postal communications shall be made by a recorded express delivery service. A read receipt received by e-mail shall constitute proof of receipt of the original e-mail as of the time stamp on the said read receipt.
  19. The Terms and Conditions shall be governed by English law and are subject to the exclusive jurisdiction of the English courts.