1. Confirming a Price


1.1 Customer Purchase Transactions
A price is confirmed at the time a Customer Purchase Transaction is submitted (both in person as well as by telephone). Should a Customer cancel a Customer Purchase Transaction after it has been submitted, the Customer may be liable for market loss repayments and administrative fees.

Subject to the conditions below, the price at the time a transaction is submitted will be confirmed, regardless of market fluctuations.


1.2. Transactions with a value greater than $10,000 and up to and including $100,000

Customers who have Transactions with a total value that is greater than $10,000 and up to and including $100,000 may be required to provide a 5% deposit of the total value of the Transaction in cleared funds with The Bullion Bank in order to confirm a transaction purchase price.


1.3 Transactions with a value greater than $100,000

Customers who have Transactions with a total value that is greater than $100,000 may be required to provide a 25% deposit of the total value of Transactions in cleared funds with The Bullion Bank in order to confirm a transaction purchase price.


1.4 Confirming a Price for Customer Sale Transactions – Bullion

A price is confirmed at the time a Customer Sale Transaction for Precious Metal Bullion is submitted (in person or by telephone).  Should a Customer chose to send Precious Metal Bullion to The Bullion Bank along with a packing slip without confirming a price, their transaction will be completed at the market price once the package is received and processed.  Should a Customer cancel a Customer Sale Transaction after it has been submitted, the Customer may be liable for market loss repayments and administrative fees.

For Customer Sale Transactions where the Customer has chosen to confirm a price prior to sending The Bullion Bank the Precious Metal Bullion, The Bullion Bank guarantees the confirmed price on the packing slip created only when the Customer package is postmarked within two (2) Business Day of the date the order is submitted, and must be received within ten (10) Business Days.

Should the amount or type of Precious Metal Bullion received by The Bullion Bank differ from what was originally submitted by the Customer, said deficit amount will be treated as a cancellation and market loss repayments and administrative fees will apply. If the Customer sends other products in addition to those initially submitted, Customer will be contacted by The Bullion Bank in order to confirm a price for the additional products.


1.5 Testing Scrap Metal

Scrap Metal sent to The Bullion Bank will be scratch tested using a touchstone and acid. Should it be impossible to determine the Precious Metal content of Customer’s Scrap Metal by this method, Customer will be contacted and may choose whether or not to proceed with testing using melt and/or assay services.

Scrap Metal will be damaged in the process of being tested/assayed. As a result, should Customer request that Scrap Metal be returned after testing, it may not be returned in the same condition as it was received at The Bullion Bank.

The Bullion Bank’s tests can accurately determine purity only up to 22 Karats. Scrap Metal believed to be higher than 22 Karats must test as well as 22 Karats and have a recognized hallmark stamp. If the Scrap Metal scratch test at 22 Karats but bears no stamp or an indistinct stamp, The Bullion Bank will purchase said Scrap Metal at the price applicable to 22 Karat products. Customers may request an assay of their Scrap Metal at any time.

Once Customer’s Scrap Metal has been tested, Customer will be contacted to proceed with completing the Scrap Metal Transaction.  Customers having had their Scrap Metal tested by The Bullion Bank may request that it be returned at any time before the transaction has been completed.  Scrap Metal will be returned upon payment of relevant return shipping costs and any applicable market loss repayments and fees.

The Bullion Bank may reject a package once it’s been tested if it’s determined that the Scrap Metals sent by the Customer contains metal contaminants beyond certain acceptable limits.  This Scrap Metal may be impossible to refine.  In these cases, The Bullion Bank will return the Scrap Metal to the Customer, at the Customer’s expense.


1.6 Confirming a Price for Scrap Metal Transactions

A settlement price is confirmed at the time a Scrap Metal Transaction is submitted in person or by telephone.  This results in a binding agreement between The Bullion Bank and Customer relative to that transaction.  Customers who chose to send Scrap Metal to The Bullion Bank along with a packing slip without confirming a price for the Scrap Metal Transaction beforehand will be contacted by The Bullion Bank once their package is received and tested in order to have their transaction completed.

For Scrap Metal Transactions where the Customer has chosen to confirm a price the transaction prior to sending The Bullion Bank their Scrap Metal, The Bullion Bank guarantees the price only when the Customer package is postmarked within two (2) Business Days of the date the order is submitted, when Customer provides The Bullion Bank with a tracking number for the package sent within two (2) Business Days of the date the order is submitted, and when the package is received within ten (10) Business Days.  Should the amount, karat weight or purity of the Scrap Metal received by The Bullion Bank differ from what was submitted by Customer, said deficit amount will be treated as a cancellation and market loss repayments and administrative fees will apply.

Should a Customer cancel a Scrap Metal Transaction after a price has been confirmed, or should The Bullion Bank reject a Customer package after a Scrap Metal Transaction has been submitted, the Customer may be liable for market loss repayments and administrative fees.


1.7 Open Transactions with a value greater than $50,000

Customers who have Open Transactions with a total value that is greater than $50,000 are required to have at least 5% of the total value of Open Transactions in cleared funds with The Bullion Bank in order to confirm a price for a Scrap Metal Transaction.


2. Payment and Funds on Account


2.1 Acceptable Methods of Payment and Adding Funds to a The Bullion Bank Account

At any one time, payment can be made and funds can be added to an account using only one method in addition to funds on account. Multiple bank wires or checks sent at the same time will not be accepted.

The Bullion Bank may refuse payments or funds (in any form whatsoever) received from an individual or from an entity that is not the named account owner.  Furthermore, The Bullion Bank may request additional documentation before such payment or funds are applied to Customer’s account.

 

The Bullion Bank accepts the following as methods of payment:

Orders below $10,000

Cash, Debit, Certified Check, Bank Draft, Bill Payment, Bank Wire

Orders $10,000 to $25,000

Certified Check, Bank Draft, Bill Payment, Bank Wire 

Orders above $25,000

Bill Payment, Bank Wire

 

Certified check, Cashier’s check, Bank Draft, Teller Check, Official Check may be subject to a holding period of three (3) Business Days from the date of receipt to ensure clearance.

Personal and business checks may be accepted on an exceptional basis at the discretion of The Bullion Bank and will be subject to a holding period of ten (10) Business Days from the date of receipt to ensure clearance.


2.2 Payment Deadlines – Customer Purchase Transactions

Payments must be received by The Bullion Bank no later than three (3) Business Days from the date on which a transaction is submitted.

If The Bullion Bank does not receive payment within the deadline specified above, The Bullion Bank reserves the right to cancel the transaction and the Customer will be liable for market loss repayments and other fees.


2.3 Bank Wires

The Bullion Bank’s bank wire information is made available to the Customer upon request. Bank wire transfers must always reference the Customer’s The Bullion Bank account in order for funds to be properly applied to said account.


2.4 International Bank Wires

International bank wires may be subject to correspondent bank fees that are deducted while a wire is in transit. As The Bullion Bank’s bank is simply the recipient bank, it is impossible to determine the fees that may be deducted by any correspondent banks. The Bullion Bank highly recommends that all Customers sending funds from a bank outside the United States and Canada include an additional amount on their bank wire to accommodate for any fees that may be deducted by a correspondent bank. The Customer should confirm with their banking institution the exact amount that may need to be included in the wire to cover all fees that may be deducted. The Bullion Bank will always credit the entire amount it receives to the Customer’s account.  Should no fees be deducted, the entire bank wire amount will be credited to the Customer’s account. Customers may also request confirmation of any correspondent bank fees upon initiation of a bank wire. The Bullion Bank suggests Customers contact their banking institution for further clarification.

3. Proceeds from Customer Sale Transactions or Scrap Metal Transactions
Settlement options for Customer Sale Transactions and Scrap Metal Transactions are as follows:

  • Cash ($5,000 limit): no service fee
  • Check by regular mail (CAD and USD transactions only): no service fee
  • Check by courier (CAD and USD transactions only): $30.00 service fee
  • Bank wire sent to a bank in the USA or Canada: $40.00 service fee
  • Bank wire sent to a bank outside the USA and Canada: $60 service fee (The Bullion Bank will pay all intermediary bank fees)
  • Conversion to The Bullion Bank Account: no service fee
  • Conversion to Precious Metal Bullion products normally carried by The Bullion Bank: service fees may apply

Once a payment option has been selected or if the option to convert to The Bullion Bank Account has been chosen, it cannot be altered for any reason.

Processing and settlement for Customer Sale Transactions and Scrap Metal Transactions may take three (3) Business Days from receipt of Precious Metal Bullion into The Bullion Bank’s account.  However, note that settlement time may vary due to statutory and bank holidays in Canada increased market activity or size of the transaction.

Due to anti-money laundering legislation in Canada, The Bullion Bank cannot forward the proceeds from any Customer Sale Transaction or Scrap Metal Transaction to an individual or entity who is not a designated account owner.  Any payment from a Customer Sale Transaction or a Scrap Metal Transaction in a Business Account can be made in the business name only. For Sole Proprietorships, payment can be made in the business name or the sole proprietor’s name, provided proper authorization documentation has been received by The Bullion Bank. Note that for any single transaction, payment can be made by only one method in addition to funds on account.


4. Transaction Cancellations

When cancelling a transaction, market loss repayments may apply, as a submitted transaction constitutes a binding agreement between The Bullion Bank and the Customer. Applicable market loss repayments will be determined based on the following:


4.1 Customer Purchase Transactions

In the event a Customer Purchase Transaction is cancelled (whether by the Customer or by The Bullion Bank for failure to receive payment in full within payment deadlines, as stipulated above), market loss repayments may be applicable. This fee is calculated based on whether there has been a decrease in the price of the Precious Metals (market loss) from the time the price is confirmed for a submitted transaction to the time a transaction is cancelled.

For Customer Purchase Transactions cancelled by The Bullion Bank due to non-payment, market loss repayments will be calculated using the last available price fixing published by the London Bullion Market Association on the day that the payment deadline expires.

For Customer Purchase Transactions which are cancelled by the Customer, market loss repayments will be calculated using The Bullion Bank’s live spot price at the time a cancellation request is submitted.


4.2 Decrease in Price of Precious Metals

In the event of a decrease in the price of Precious Metals, the market loss repayment will be equivalent to the difference between the original value of the Customer Purchase Transaction and its value at the time of cancellation.


4.3 Increase in Price of Precious Metals

In the event of an increase in the price of Precious Metals, no market loss repayment will be applicable.


5. Customer Sale Transactions and Scrap Metal Transactions

In the event a Customer Sale Transaction or a Scrap Metal Transaction is cancelled, whether by the Customer or by The Bullion Bank, market loss repayments may be applicable. This fee is calculated based on whether there has been an increase in the price of Precious Metals from the time a transaction is submitted and the price confirmed to the time a transaction is cancelled.

Customer Sale Transactions for Precious Metal Bullion or Scrap Metal Transactions will be cancelled in ten (10) Business Days, if product is not received by The Bullion Bank. Customer must expedite shipment of any product included in their Customer Sale Transaction or their Scrap Metal Transaction within two (2) Business Day of the date the price is confirmed.

For Customer Sale Transactions or Scrap Metal Transactions cancelled by The Bullion Bank, market loss repayments will be calculated using the last available price fixing published by the London Bullion Market Association on the day that the deadline for receiving Precious Metal Bullion or Scrap Metal expires.

For Customer Sale Transactions or Scrap Metal Transactions which are cancelled by the Customer, market loss repayments will be calculated using The Bullion Bank’s live spot price at the time a cancellation request is submitted.


5.1 Increase in Price of Precious Metals

In the event of an increase in the price of Precious Metals, the market loss repayment will be equivalent to the difference between the original value of the Customer Sale Transaction or Scrap Metal Transaction and its value at the time of cancellation.


5.2 Decrease in Price of Precious Metals

In the event of a decrease in the price of Precious Metals, no market loss repayment will be applicable.


6. Cancellation at the Customer’s Request

Transactions may be cancelled at the Customer’s request, provided payment has not been received or settlement has not been issued in full. Should the Customer request a cancellation, the above cancellation policy will be considered in effect. Fees will be calculated based on The Bullion Bank’s live spot price at the time a cancellation request is submitted.


6.1 Materials Sent Different From Those for Which Prices Were Confirmed

Should the amount or product received by The Bullion Bank differ from that for which prices were confirmed by Customer, any deficit amount will be treated as a cancellation and the above cancellation policy will be considered in effect. Market loss repayments will be calculated using the last available price fixing published by the London Bullion Market Association on the day the deficit is discovered.  For transactions involving rhodium, market loss repayments will be calculated using The Bullion


6.2 Increase in Price of Precious Metals

In the event of an increase in the price of Precious Metals, the market loss repayment will be equivalent to the difference between the original confirmed price of the Customer Sale Transaction or the Scrap Metal Transaction and the price on the date the deficit is discovered by The Bullion Bank, multiplied by the number of pure ounces of which the Customer’s package was deficient.


6.3 Decrease in Price of Precious Metals

In the event of a decrease in the price of Precious Metals, no market loss repayment will be applicable.


7. Unauthorized Sale Transaction Request
In the event that a Customer Sale Transaction is initiated when the Customer did not request the transaction, the Customer must notify The Bullion Bank immediately upon being made aware of the request so that The Bullion Bank may begin examination of the claim without delay.  In the event that The Bullion Bank determines that the Customer Sale Transaction was unauthorized, the market loss repayments will be waived.


8. Fees

The following section outlines all fees that The Bullion Bank may charge the Customer in relation to Precious Metal Bullion, The Bullion Bank Account products and Scrap Metal Transactions. All fees stated are in Canadian Dollars.


8.1 Administrative Fees

Returned Check

An administrative fee of $35.00 including applicable taxes, will be charged to Customer if a check (of any kind), bank draft or money order that Customer has sent to The Bullion Bank has been returned.  This includes, but is not limited to, checks returned due to fraud, NSF (Non Sufficient Funds) in Customer’s account, ACL (Account Closed) or CNT (Cannot Trace).

Transaction Cancellations

In addition to applicable market loss repayments, transactions cancelled will be subject to an administrative fee of $50.00 including applicable taxes.

Undeliverable Packages

An administrative fee of $50.00 including applicable taxes, will be charged to Customer in the event that Customer’s Precious Metal Bullion is bought back by The Bullion Bank as a result of said Precious Metal Bullion being returned as undeliverable.

Fabrication Fees

The Customer may request a conversion from their The Bullion Bank Account to any corresponding Precious Metal Bullion product.  In these cases a fabrication fee may be applicable.  Said fee may vary, depending on the physical product the Customer requests.

Shipping and Insurance Fees

Should the Customer request that The Bullion Bank arrange for shipping or delivery of Precious Metal Bullion, or should the Customer request or The Bullion Bank be required to return any Precious Metal Bullion or Scrap Metal back to the Customer, shipping and insurance fees will be applicable.  Quotes for shipping and insurance fees will be provided during the transaction process based on the value of the shipment, the type of products being shipped, the shipping method and the shipping destination.  Taxes may apply to shipping and insurance fees.

All shipments prepared by Customer for delivery to The Bullion Bank must be properly packaged and labeled in order to accelerate processing times and ensure the safe arrival of Customer packages.  Detailed shipping and packaging instructions can be found on The Bullion Bank’s Online Store.  Failure to properly package and label shipments sent to The Bullion Bank may result in the insurer rendering insurance coverage void.

Large Shipments

For certain large shipments, standard shipping and insurance rates may not apply.  Large shipments may include (without limitation) orders over $100,000. in value, order containing 100 oz / 400 oz gold bars, or orders over 700 oz in total weight.  For large shipments, a quote for shipping and insurance fees will be provided by The Bullion Bank on a case-by-case basis.

Furthermore, The Bullion Bank may recommend or require shipment via armored vehicle, which will require delivery to a business, bank, or depository service.  If applicable, the Customer is responsible for all shipping and insurance costs for armored vehicle service. For further details, please contact The Bullion Bank.

Melt & Assay Fees

If a The Bullion Bank representative can test Customer’s Scrap Metal with a scratch test, there will be no processing fees. However when it’s determined that a melt and/or assay is required, The Bullion Bank will contact Customer before proceeding. Following Customer’s approval, The Bullion Bank will melt and/or sample Customer’s Scrap Metal before forwarding a sample to an independent lab for analysis. A breakdown of the material, fees, processing times and sample sizes is listed below.

Material To BeTested ChargesPer Melt Charges PerAssay Minimum Lab Time Minimum Sample Size*
Gold 35.00$ 35.00$ Two (2) Business Days 1 gram
Silver N/A 35.00$ Two (2) Business Days 1 gram
Platinum N/A 40.00$ Five (5) Business Days 1 gram
Palladium N/A 40.00$ Five (5) Business Days 1 gram
Rhodium N/A 250.00$ Fifteen (15) Business Days N/A
Polishing N/A Min 60.00$ Ten (10) Business Days 20 grams
Dental Gold 35.00$ Min 35.00$ Two (2) Business Days 1 gram
* Sample sizes may change depending on the amount and type of material to be tested.

 

Taxes and Duties

Should the Customer request delivery of Precious Metal Bullion or should any package be returned to a location outside the United States or Canada, taxes and duties, including Value Added Taxes (VATs), may be applicable, depending on the country of import. The Customer, in agreeing to these Terms and Conditions, acknowledges that any taxes or duties, including VATs, will be the sole responsibility of the Customer and The Bullion Bank will not be held liable for any fees.

Sales Tax

All fees quoted herein and on The Bullion Bank’s Online Store are exclusive of sales tax.  Taxes may apply on some transactions. For more information, please contact The Bullion Bank.

Exchange Policy

Customer may ask for the exchange of any Precious Metal Bullion products purchased from The Bullion Bank in the event that the Customer is unsatisfied with said products.  Customer must notify The Bullion Bank of their desire to exchange their product(s) within three (3) Business Days of having received said product(s) from The Bullion Bank.  Products must be returned in their original packaging and all shipping and insurance costs shall be at the expense of the Customer.

All requests for exchange are subject to The Bullion Bank’s approval and The Bullion Bank reserves the right to reject a Customer’s request for exchange for any reason including, without limitation, lack of availability of the Precious Metal Bullion product(s) in question.  Additional costs may be applicable in case of an exchange for a product with a higher premium.


9. The Bullion Bank Account
As defined in the present Agreement, The Bullion Bank Account is comprised of unallocated precious metal deposits purchased through The Bullion Bank.  The Bullion Bank Account may consist of precious metals in any form whatsoever, including, without limitation, bars, coins, and scrap metal.  Precious metal deposits which form The Bullion Bank Account shall remain the property of Customer holding The Bullion Bank Account at all times and The Bullion Bank shall cause such precious metal deposits to be specifically identified and physically segregated at all times from coin, bullion and metal in any form whatsoever, the title to which is vested in any other person or entity, including The Bullion Bank’s.  These precious metal deposits belong to Customers who hold The Bullion Bank Account and are available to said Customers at any time, subject to payment of related fees and the time necessary for fabrication and delivery.  The Bullion Bank Account may be stored in secured depositories in various locations.  Said depositories are chosen by The Bullion Bank at its sole discretion.

Customers holding The Bullion Bank Account hereby authorize The Bullion Bank to perform any and all acts necessary for the administration of The Bullion Bank Account on their behalf, including, without limitation, arranging for the insurance of The Bullion Bank Account, storing and transferring unallocated metals from one depository to another and having scrap metal deposits refined.

A Customer owning The Bullion Bank Account may request a conversion from The Bullion Bank Account to the corresponding Precious Metal Bullion product.  For conversions from Precious Metal Bullion to The Bullion Bank Account, the Customer will be credited with the exact ounce amount of the product converted.


10. Melt Loss of Scrap Metal
Testing and refining Scrap Metal will result a decrease in the gross weight of said materials due to the burning process in which impurities such as alloys are eliminated. A decrease in weight may also occur as gemstones, enamel or other imbedded metals are separated and retained in borax. While the average loss in purely metallic material (without gemstones) is approximately 1%, this will increase if Customer’s Scrap Metal includes gemstones or other non-precious metal content.  Dental Scrap Metal such as gold filings may lose up to 30% of their weight, depending on the amount of contamination present in said materials.  To aid in melting of substances containing palladium or platinum, copper may need to be added to melts. In such cases, the melt loss is difficult to estimate and will vary from cases to case.


11. Advice
The Bullion Bank has not offered or given and will not provide any investment advice in connection with any transaction and has not offered or given any opinion with respect to the suitability of any transaction made or which might be made by the Customer.

The Customer warrants that The Bullion Bank has not offered or given any investment advice to Customer in connection with the products and services offered by The Bullion Bank.  In addition, The Bullion Bank has not given Customer any opinion with respect to the suitability of any of its products or services for Customer.


12. Market Risk
Customers should carefully consider the suitability of Precious Metals as an investment choice before taking any decisions that may affect their financial situation. Precious Metal products and accounts are not insured by the Canadian Deposit Insurance Corporation, Canadian Investor Protection Fund or other similar program and may lose value.

The purchase and sale of Precious Metals involves a high degree of risk and is not suitable for all persons.  The purchase and sale of Precious Metals provides no guarantee of interest, yield or return.  Losses may be incurred both as a result of price devaluation and if price gains do not exceed applicable fees, including those charged herein.  The Customer has read and understands these Terms and Conditions and acknowledges that all risk of decline in the market value of any Precious Metals is the Customer’s risk and not that of The Bullion Bank.  If the Customer has any doubt as to the suitability of Precious Metals as an investment, the Customer should contact an independent legal or financial advisor.


13. The Bullion Bank’s Rights
The Bullion Bank hereby reserves the following rights and the Customer acknowledges and agrees to the following:

  • The Bullion Bank may adjust ASK and BID prices at any time without prior notice.
  • The Bullion Bank may withdraw or limit the products or services provided by telephone, in person and on The Bullion Bank’s Online Store, or may suspend the availability of The Bullion Bank’s Online Store, or suspend the completion of transactions submitted to The Bullion Bank, without notice at any time.
  • The Bullion Bank may cancel or reject any order at any time.
  • The Bullion Bank may place limits on the amounts that may be offered for sale or the amounts that may be bought back by The Bullion Bank in any twenty-four (24) hour period.
  • Bullion Bank may terminate this Agreement at its sole discretion and may freeze an account or liquidate and close an account at any time for any reason including but not limited to the abuse of policy, criminal activity, circumvention of The Bullion Bank’s web security services, and any other violation of these Terms and Conditions. If the Customer has The Bullion Bank Account, The Bullion Bank will close the Customer’s The Bullion Bank account and liquidate any The Bullion Bank Account holdings and send the Customer a check or bank wire.

14. Limitation of Liability
The Bullion Bank hereby reserves the following rights and the Customer acknowledges and agrees to the following:

The Bullion Bank does not report any Customer transactions to the Internal Revenue Service or the Canada Revenue Agency; however, the purchase or sale of Precious Metals may be considered reportable as taxable income. It is the Customer’s responsibility to contact a financial advisor for further information. The Bullion Bank will not be held liable for any capital gains or tax implications due to the purchase or sale of precious metals by the Customer.


15. Technical Issues


15.1 Negligence

All orders placed through the order entry system are taken on a best efforts basis. The Bullion Bank shall not be responsible for errors, negligence or inability to execute orders. Nor shall The Bullion Bank be responsible for any delays in the transmission, delivery or execution of Customer’s order due to breakdown or failure of transmission or communication facilities, or to any other cause or causes beyond The Bullion Bank’s reasonable control or anticipation.


15.2 Possible System Failure

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


15.3 Internet Security

We highly recommend that Customers not include private and sensitive information in e-mails to The Bullion Bank, including, but not limited to, account numbers, balances, passwords, Electronic Identification Information, etc. The Bullion Bank will not be held liable for any damages suffered by Customers should they transmit confidential or sensitive information to us through e-mail.

Information provided on The Bullion Bank’s website is not intended to provide legal, accounting, or tax advice, and should not be relied upon in that regard. The Bullion Bank is not responsible in any manner for direct, indirect, special or consequential damages howsoever caused, arising out of the use of its website.


16. Indemnification
Except as otherwise expressly provided, The Bullion Bank shall not be liable for any loss or damage, whether direct or indirect, resulting from the transactions contemplated by these Terms and Conditions.

The Bullion Bank shall not be liable under any circumstances whatsoever for special, incidental, consequential, indirect or punitive losses or damages (including lost profits or lost savings), whether or not caused by the fault or neglect of The Bullion Bank and whether or not The Bullion Bank had knowledge that such losses or damages might be incurred.

The limitations and exclusions in this clause shall apply to all claims of whatsoever nature, kind and description, whether arising from breach of contract, delay or non-delivery of services, negligence or otherwise.


17. Force Majeure
The Bullion Bank shall not be liable for any failure to perform its obligations hereunder due to fire, computer viruses, network failure, computer hardware failure, explosion, flood, lightning, act of terrorism, war, rebellion, riot, sabotage, orders or requests of any government or any other authority, legislative changes, strikes, lockouts or other labor disputes, or events or circumstances beyond its reasonable control, but The Bullion Bank shall use commercially reasonable endeavors to minimize dangers or losses to the Customer as a consequence of such events.


18. Joint Accounts
For joint accounts with The Bullion Bank, The Bullion Bank is authorized to act on the instructions of either one of the named Customers, without further enquiry with regard to any and all transactions in any way related to the joint account and the disposition, transfer, deposit or withdrawal of any amount or of any or all of the funds or The Bullion Bank Account held in the joint account. The Bullion Bank shall have no responsibility or obligation for further enquiry into such apparent authority, and shall bear no liability and disclaims all responsibility for the consequences of any acts or omissions made in reliance upon such instructions.


19. Customer Obligation and Liability


19.1 Ownership and Authority

Customer hereby warrants that it is either the owner or the authorized agent of the owner of any Precious Metal Bullion or Scrap Metal sent or brought to The Bullion Bank for the purpose of a Customer Sale Transaction or a Scrap Metal Transaction.  Customer further warrants that it is authorized to accept and is accepting the terms of this Agreement not only for itself but also as agent for or on behalf of all other parties who have or may hereafter have any interest in said Precious Metal Bullion or Scrap Metal.


19.2 Compliance and Due Diligence

The Customer is responsible for complying with all laws of the jurisdiction from which the Customer accesses the The Bullion Bank Website or receives the services described herein, and the Customer shall at all times be solely responsible for obtaining any authorizations required by any authoritative body in such jurisdiction.

The Customer has carried out reasonable due diligence to ensure that the purchase and sale of Precious Metals as provided under these Terms and Conditions is not contrary to any laws or regulations of the Customer’s governing jurisdiction, and that the acceptance of these Terms and Conditions by the Customer and the entering into of a Customer Purchase Transaction or Customer Sale Transaction or Scrap Metal Transaction is not contrary to any federal, provincial, state or any other law or regulation applicable to the Customer.


19.3 Notification

If a Customer believes that any transaction or balance recorded in their account is incorrect, the Customer must contact The Bullion Bank immediately to notify The Bullion Bank of suspected unauthorized use of Customer’s Electronic Identification Information.  Customers are responsible for ensuring the accuracy of the information displayed in their account, howsoever accessed.  The Bullion Bank will not be held liable should a Customer fail to disclose any unauthorized use of Electronic Identification Information and Customer’s The Bullion Bank accounts.


19.4 Intellectual Property, Trademarks, Logos

All of the intellectual property rights including without limitation trademarks, service marks, trade names, copyright and other rights used or embodied in this website are and will remain the sole property of The Bullion Bank (or its suppliers where applicable).

All information and material supplied by The Bullion Bank, constitutes part of The Bullion Bank’s confidential and proprietary information and no Customer participating in any of its programs may reproduce, copy or disclose such information without the prior written consent of The Bullion Bank.

No party accessing this website may attempt to tamper with, modify, reverse engineer, gain unauthorized access to, or in any way alter any software used in The Bullion Bank’s programs or comprising The Bullion Bank’s website.


20. Miscellaneous


20.1 Insolvency

In the event: (i) that a receiver or trustee is appointed in respect of the property and assets of the Customer as a result of the latter’s insolvency or bankruptcy, and (ii) that The Bullion Bank is requested by the receiver or trustee to remit any Customer holdings, the receiver or trustee will direct any Customer holding liquidation requests to The Bullion Bank. Any inquiries by the said trustee or receiver regarding the present Agreement between the Customer and The Bullion Bank shall be directed to The Bullion Bank.


20.2 Death of Customer

Individual Account

In the event of Customer death, The Bullion Bank will require full documentation of the Customer’s estate, including a copy of a death certificate, will or trust documentation, and any probate information if applicable. Upon confirmation of a Customer death, The Bullion Bank will freeze the Customer’s account and act in accordance with the conditions set out in the Customer’s will, or as instructed by the trustee of the Customer’s estate. It is the sole responsibility of the Customer to ensure that such documentation will be provided for in the event of death.

Joint Account

In the event of death of any one of the named Customers, the deceased Customer’s interest in the Account will pass automatically to the surviving Customer.

It is agreed that in the event of death of one of the named Customers, the surviving Customer shall immediately give The Bullion Bank written notice thereof, and The Bullion Bank may require such papers, retain such portion and/or take any measures it deems advisable, including restricting transactions or liquidating the joint account, to protect itself against any tax, liability, penalty or loss under any applicable laws. The estate of the deceased Customer and the surviving Customer shall continue to be liable, jointly and severally, to The Bullion Bank for any obligation incurred prior to The Bullion Bank’s receipt of written notice of the death of such Customer or for any loss, damage or costs incurred by The Bullion Bank, including reasonable attorney fees, in any dispute between the estate of a deceased Customer, the surviving Customer or a third party.


21. Changes to Terms and Conditions
The Bullion Bank reserves the right to amend these Terms and Conditions, any applicable fees and charges, or any services, rights or obligations provided for herein at its sole discretion, at any time, without prior notice to the Customer. Acceptance of these Terms and Conditions is limited to the acknowledged transaction and is not applicable to any future transactions. The Customer will be responsible for accepting the Terms and Conditions for every subsequent transaction.


22. Applicable Law
This Agreement shall be construed in accordance with and governed by the laws applicable in the Province of Nova Scotia and the laws of Canada applicable therein. The Parties hereby irrevocably submit to the non-exclusive jurisdiction of the Courts of the province of Nova Scotia in respect of all matters or disputes arising from the Agreement, except as otherwise specifically stated herein.


23. Binding Effectgreement is binding upon the parties hereto and their respective successors, heirs, legal representative and permitted assigns.


24. Severability
In the event that any provision in this Agreement is determined to be invalid, illegal, or unenforceable, such determination shall not affect the validity and enforceability of any other remaining provisions of this Agreement.


25. Language The parties hereto have expressly required that this agreement and all deeds, documents or notices relating thereto be executed in the English language.  Les parties aux présentes ont expressément convenu que cette entente et tout autre acte, document ou avis y afférent soient rédigés en anglais.

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