Terms

This Agreement is a contract between you and GoldenCoin and governs your use of the GoldenCoin Personal and GoldenCoin Business Accounts on our platform. Using the services provided by GoldenCoin means that you accept the terms and conditions contained in this Agreement and any other documents, terms and conditions, or policies, including the Privacy Policy.

Prevention of Money Laundering Act
The Swiss Money Laundering Act (Geldwäschereigesetz, GwG)
stipulates that the beneficial owner(s) must be identified for transactions in exess CHF 25’000, or when the sum of all subsequent transactions within a calendar year exceeds CHF 25’000.-

Effective Date: these are the terms and conditions applicable as of 1 August 2017.

This is an important document, which you must consider carefully when choosing whether you wish to use the GoldenCoin Services. We may amend and update this Agreement without your consent at any time by posting a revised version on our Website, which will be effective at the time we post it. If the revised version includes a substantial change or, if it applies to consumers, we will provide you with a minimum of 30 days prior written notice by posting notice to your email, providing a comparison illustrating the amendments and the date they will be effective, and your right to terminate your relationship with us at any time without cost or penalty if you do not agree to the amendments.

If you do not wish to be bound by this Agreement, you must terminate your relationship with us in accordance with clause 4.

You must be aware of the following risks of using the GoldenCoin Services: Transactions in which you receive a transfer of title to gold from another User may be reversed, for example, if the transaction is subject to a Chargeback, reversal, claim, or is otherwise invalidated. This means that, for some of our Users, transfers in the form of a transfer of title in gold may be reversed after the Users have provided goods or services. We may close, suspend, or limit your access to your GoldenCoin Personal or Business Account or any other GoldenCoin Services, if you violate this Agreement, the Acceptable Use Policy, or any other agreement you enter into with GoldenCoin.

This Agreement contains several sections. The headings and subheadings below are for reference only and do not limit the scope or give meaning to each section. Please note that capitalized words have specific definitions, which are included in section 22.

 

OUR RELATIONSHIP WITH YOU 

a. Relationship: Our relationship with you is set out within and governed by this Agreement.

This Agreement applies to your use of the GoldenCoin Platform and any of the services provided to you by GoldenCoin, together with the GoldenCoin Platform (the “GoldenCoin Services”).

b. GoldenCoin: GoldenCoin is an investment coins dealer and transfer service provider that assists you with making Gold transfers to and receiving Gold transfers from third parties. GoldenCoin is an independent contractor for these purposes, except that GoldenCoin acts as your agent and bailee with respect to the custody of your Gold. GoldenCoin does not have control of, or liability for, the products or services that are paid for with the GoldenCoin Services. GoldenCoin does not guarantee the identity of any User or ensure that a buyer or a seller will complete a transaction. All Gold recorded in your GoldenCoin Account Balance is your property: fully reserved, allocated, and redeemable pursuant to the law of bailment. GoldenCoin is not a bank. The Gold held in your GoldenCoin Account is not a deposit with us and your GoldenCoin Account is not a bank account. Because GoldenCoin is not a bank, the Gold is not insured by any comparable governmental agency. You agree that you will not receive interest or other earnings on the Gold from GoldenCoin. The use of the GoldenCoin Website and GoldenCoin Services does not constitute a trading of, or an exchange in, securities, investment contracts, or any document, instrument, or writing commonly known as a “security”, at law or otherwise.

c. Bailment: You authorise us to arrange for the storage, transportation, and insurance of your Gold. We will hold your Gold as bailee on your behalf, pursuant to a storage agreements between GCB Suisse AG and Loomis International, or any other Gold vault operator selected by GoldenCoin in its sole discretion (a “Vault Operator”). The Gold held in your GoldenCoin Account does not constitute evidence of indebtedness or liability by GoldenCoin to you, except to comply with instructions from you in relation to transactions initiated by you as provided for in this Agreement.

d. Privacy: Your privacy rights are important to GoldenCoin. Please review our Privacy Policy for more information. If you receive Information about another User through use of the GoldenCoin Services, you must keep the Information confidential and only use it in connection with the GoldenCoin Services. You may not disclose or distribute a User’s information to a third party or use the Information for marketing purposes unless you receive the User’s express consent to do so. You may not send unsolicited emails to a User or use the GoldenCoin Services to collect transfers for sending, or assisting in sending, unsolicited email to third parties.

e. Assignment: GoldenCoin may at any time assign, transfer, charge, subcontract, or deal in any other manner with all or any of its rights under this Agreement and may subcontract or delegate in any manner any or all of its obligations under this Agreement to any third party or agent. You shall not, without the prior written consent of GoldenCoin, assign, transfer, charge, subcontract, or deal in any other manner with all or any of its rights or obligations under this Agreement.

f. Notices: Any notice or other communication required to be given to a party under or in connection with this Agreement shall be in writing and shall be sent to the other party, such notice shall be deemed to have been duly received on the same day as it is sent. GoldenCoin may provide information about your GoldenCoin Account and the GoldenCoin Services by emailing it to the email address listed in your GoldenCoin Account, notifying you through the GoldenCoin App, or posting it to the street address in your GoldenCoin Profile. The service of any proceedings or other documents in any legal action by you must be posted to the attention of the Group General Counsel, GCB Suisse AG, at Offinea Business Center, Rathausstrasse 14, 6340 Baar, Zug, Switzerland.

g. Intellectual property: You acknowledge that any and all of the intellectual property rights including, without limitation, the GoldenCoin trademark, any other trademarks, trade names, copyright and other rights used or embodied within the GoldenCoin Website are and will remain GoldenCoins sole property. You may not copy, imitate or use them without GoldenCoins prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of GoldenCoin. You may not copy, imitate, or use them without our prior written consent. You may use HTML logos provided by GoldenCoin through our merchant services or affiliate programs without prior written consent for the purpose of directing web traffic to the GoldenCoin Services in accordance always with the terms of the affiliate program. You may not alter, modify or change these HTML logos in any way, use them in a manner that is disparaging to any of the GoldenCoin group entities or the GoldenCoin Services or display them in any manner that implies GoldenCoin’s sponsorship or endorsement.

All right, title, and interest in and to the GoldenCoin Website, any content thereon, the GoldenCoin Services, the technology related to the GoldenCoin Services, and any and all technology and any content created or derived from any of the foregoing is the exclusive property of GoldenCoin and its licensors. You warrant that you will not, nor will you attempt to, tamper with, modify, reverse engineer, gain unauthorised access to, or in any way alter any of our software or the GoldenCoin Website. You understand that we may close your personal or business account immediately, and may take legal action against you if you breach, or we reasonably suspect that you may have breached, this warranty.

h. Tax: You are responsible for paying all local taxes and tariffs that are or may be applicable to purchases, conversion, sale or custody of Gold, and any associated charges. The GoldenCoin Platform will provide you with a tax tool for calculating your yearly gains or losses from the purchases, sales, and spending transactions that have occurred within your account. This tax tool is provided as a service only and is not intended to be, nor should it be relied upon by you as legal or tax advice. You should consult your own tax advisor for advice with respect to income tax consequences to you based on your particular circumstances.

i. Compliance with law: You agree to comply with all relevant laws of any territory of which you are a citizen, national, or subject, and of any territory in which you are resident from time to time, and of any other territory from which you access the GoldenCoin Website, the laws of the countries in which the Vaults are located (where applicable), and including, without limitation, the laws of Zug, Switzerland.

j. Currency: Any and all monetary amounts displayed in the GoldenCoin Website are in the local currency selected by you and currency conversions are performed from time to time. GoldenCoin is a Swiss company that trades in USD, EUR and GBP and all payments to GoldenCoin for your personal or business accounts are processed in USD, EUR or GBP. GoldenCoin itself does not charge currency conversion fees and shall not be liable for any fees, charges, or conversion rates on international transactions which may be charged by credit card issuers, financial institutions, or banks.

k. Term: This Agreement remains in effect until such time as your GoldenCoin Personal or Business Account is closed in accordance with clause 4. Either you or GoldenCoin may terminate this Agreement with immediate effect for any reason whatsoever, including breach of this Agreement by you.

 

1. USING YOUR GOLDENCOIN PERSONAL OR BUSINESS ACCOUNT

a. Eligibility: To be eligible to use the GoldenCoin Services, you must be at least 18 years old or the applicable age of majority and contractual capacity if you reside in a jurisdiction where the age of majority or contractual capacity is above 18 years of age. By accessing or using any of the GoldenCoin Services, you represent and warrant that you are both over the age of 18 years old and of the applicable age of majority and contractual capacity in the jurisdiction in which you reside. GoldenCoin reserves the right to close any GoldenCoin Personal or Business Account and suspend any user who is not 18 years old and of the applicable age of majority and contractual capacity, subject to clause 2.j. below.

b. Types of GoldenCoin Account: GoldenCoin offers Personal Accounts and Business Accounts. The use of the term “GoldenCoin Account” in this Agreement shall refer to both types of GoldenCoin Account noted above unless otherwise specified; GoldenCoin offers two tiers of Personal Accounts. Once you have uploaded your valid government-issued photo ID and a Proof of Address, and it has been approved by GoldenCoin, you will have access to a GoldenCoin Account, a dedicated Customer Success team, the GoldenCoin Verified Account Protection for buyers, and the ability to apply for the GoldenCoin Prepaid Card. A GoldenCoin Business Account gives you access to GoldenCoin Business Protection, as set out in clauses 17-19 below. By opening a Business Account and accepting the terms of this Agreement, you agree that you are not establishing the Business Account primarily for personal, family, or household purposes.

c. GoldenCoin Account Balances: All User’s Gold Coins are registered in the respective User’s name, and all Gold Coins are wholly owned by them, and verified by third party auditors. GoldenCoin does not have any entitlement or leverage or comingling with its corporate funds or gold, and it may not and will not use your Gold Coins for its operating expenses or for any other corporate purposes. GoldenCoin does not have any access to your Gold Coins to make them available to its creditors in the event of bankruptcy. Your Gold Coins are wholly owned by you as further detailed in clause 8.

d. Communications: Communications between you and GoldenCoin may be conducted by mail or by telephone, fax, online, or by other electronic means that GoldenCoin offers from time to time in respect of its different product offerings. Any instructions that you give to us in any such manner will have the same legal effect as if you gave them to us in traditional written form. You agree that all telephone calls and electronic communications may be recorded and kept by us as a record of your instructions. We and our service providers acting on our behalf may contact you, including by using autodialed or prerecorded messages, calls, or text messages, at the telephone number(s) you have provided to us. These communications may relate to (a) notices to you, (b) investigations or fraud prevention, (c) debt collection. Other than service providers with whom we contract to assist in providing the GoldenCoin Services, we will not share your telephone number(s) with third parties for their own purposes without your consent. You may revoke your consent to receive calls, emails, or text messages by making the change in your GoldenCoin Personal or Business Account settings. We respect your opt-out instructions; however, we will be required to communicate certain types of information in accordance with our legal and regulatory obligations.

e. Instructions: You are responsible for the accuracy of your instructions for all transactions in your GoldenCoin Personal or Business Account and through the GoldenCoin Platform. Instructions once sent, in any form through your GoldenCoin Personal or Business Account, will be final and irrevocable and it will not be possible to retrieve funds sent in error. It is your responsibility to ensure that your personal information registered on the GoldenCoin Platform is accurate at all times.

f. Transaction history: You agree to promptly review the transaction history and any account statements pertaining to your GoldenCoin Account that you receive to ensure that your instructions have been carried out and that there have been no unauthorised dealings in your GoldenCoin Personal or Business Account. You must inform us of any errors or omissions within sixty (60) days of the disputed transaction(s).

g. Third parties: If you grant express permission for a third party to connect to your GoldenCoin Personal or Business Account, either through the third party’s product or through the GoldenCoin Services, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. Further, you acknowledge and agree that you will not hold GoldenCoin responsible for, and will indemnify GoldenCoin, its subsidiaries, officers, agents, and employees from, any liability arising from the actions or omissions of this third party in connection with the permissions you grant. You may change or remove these permissions from the account settings page.

h. Your details: You are responsible for keeping your email and street address up to date in your GoldenCoin Personal or Business Account Profile details. If your credit card number changes or your credit card expiration date changes on a reoccurring payment, we may acquire that information from our financial services partner and update your GoldenCoin Personal or Business Account Profile.

i. Accounts: Each User is eligible for the following combinations of Personal and Business Accounts:

  • One Personal Account; or
  • One Personal Account and one or more Business Accounts (limited to one Business Account per business); or
  • One or more Business Accounts (limited to one Business Account per business).

 

2. CUSTOMER ACCEPTANCE POLICY 

a. Authorization: You authorise GoldenCoin directly or through third parties, to make any enquiries we consider necessary to validate your identity. This may include asking you for further Information that will allow us to reasonably identify you, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying your Information against third party databases or other sources. Use of certain GoldenCoin Services requires us to verify some of your Information. GoldenCoin reserves the right to close, suspend, or limit access to your GoldenCoin Personal or Business Account or all or some of the GoldenCoin Services in the event that we are unable to obtain or verify this Information.

b. Requests for information: You agree to provide GoldenCoin with such Information as GoldenCoin may require or request, in its discretion, in relation to this Agreement and your relationship with GoldenCoin, including all Information required to comply with all applicable laws and regulations, including all applicable anti-money laundering rules and regulations.

c. Requests for documentation: In addition to the above, upon request from GoldenCoin, you agree to provide a copy of your current valid government-issued photo identification document with MRZ (Machine Readable Zone) details visible and/or such other identifying and verifying information as we determine from time to time in our discretion (the “ID Documentation”) at a time to be determined by us, including prior to opening a GoldenCoin Personal or Business Account, prior to purchasing Gold, prior to redemption of any content of your GoldenCoin Personal or Business Account, upon the balance of your GoldenCoin Personal or Business Account reaching a certain Gold threshold prescribed by us, or at any other time at our discretion.

d. Background and credit checks: You agree that GoldenCoin is entitled to perform a background check prior to approving your application to open a GoldenCoin Personal or Business Account or at any other time during the course of the relationship at our discretion. GoldenCoin may contact credit bureaus to obtain information about you for purposes of confirming your identity under applicable “know-your-client” rules. If you open a Business Account, you are providing GoldenCoin, at its discretion, authorization to obtain your personal and/or business credit report from a credit reporting agency. You are also authorizing GoldenCoin to obtain your personal and/or business credit report (a) when you apply for a GoldenCoin Business Account; (b) when you request a product for which GoldenCoin requires, in its discretion, a review of your credit report; or (c) any time GoldenCoin reasonably believes there may be an increased level of risk associated with your GoldenCoin Business Account.

e. Misleading information: You represent and warrant to us at all times that, to the best of your knowledge, any information provided to us by you is complete, accurate, and not misleading in any material respect and you agree to notify us should such information change.

f. Sign up countries: GoldenCoin shall, from time to time, deem certain countries either “sign up” or “non-sign up” countries, in accordance with various risk factors, legislation, regulation, and guidance. GoldenCoin reserves the right to reject Users from countries it deems to be a “non-sign up” country.

 

3. CLOSING YOUR GOLDENCOIN PERSONAL OR BUSINESS ACCOUNT

a. Termination: You may terminate your relationship with us at any time, and without termination penalty, by closing your GoldenCoin Personal or Business Account, subject to this clause 4. Please contact the Customer Success Team for assistance.

b. Balance Upon Closure: Upon your GoldenCoin Personal or Business Account closure, we will cancel any pending transactions, unless otherwise legally prohibited. Prior to closing your GoldenCoin Personal or Business Account, you must sell the gold in the GoldenCoin Personal or Business Account to us, transfer ownership of the gold to another User, or physically redeem the gold from the vault location.

c. Limitations: You may not close your GoldenCoin Personal or Business Account to evade an investigation. If you attempt to close your GoldenCoin Personal or Business Account while we are conducting an investigation, we may suspend your GoldenCoin Personal or Business Account for up to 180 Days to protect GoldenCoin or a third party against the risk of reversals, Chargebacks, claims, fees, fines, penalties and other liability.

d. After Closure: You will remain liable for all obligations related to your GoldenCoin Personal or Business Account even after the GoldenCoin Personal or Business Account is closed. Any accrued rights, remedies, obligations and liabilities of the parties as at termination shall not be affected, including the right to claim damages in respect of any breach of the Agreement which existed at or before the date of termination. Any clauses of this Agreement which expressly or by implication have effect after termination shall continue in full force and effect.

 

4. GOLD QUALITY, PURITY, AND AUDITING

a. Bar and Coin Quality: For your peace of mind, GoldenCoin takes only 1 Oz American Gold Eagle coins from recognized counterparties, such as US Mint, bullion-dealers, and bullion-banks, according to the best industry market practices. GoldenCoin deals exclusively in official 1 Oz American Gold Eagles coins.

b. Purity: GoldenCoin confirms that all 1 Oz American Gold Eagles are authorized by the United States Congress and backed by the United States Mint for weight and content.

c. Audit: GoldenCoin confirms that it adheres to a standard whereby it is periodically audited and inventoried by an independent third party.

 

5. SECURITY

GoldenCoin makes available its security information here:

a. Password: You are responsible for maintaining adequate security and control of passwords, personal identification numbers (PINs), or any other codes that you use to access the GoldenCoin Services. You are responsible for, and give us your authorization to carry out, all instructions given to us online where and when your correct Password is entered to access your GoldenCoin Personal or Business Account. GoldenCoin will not be liable to you for any loss or claim arising out of our relying on oral or electronic instructions provided to us using your Password. If you suspect that any other person has become aware of your Password, you must immediately notify us and you agree to cooperate with us in any subsequent investigation. Until you notify us, you will be liable for all transactions that are made using your Password. In addition to Passwords, you may be required to adopt other security measures that we make available to protect the security of your information. GoldenCoin does not store Passwords; however, you agree to GoldenCoin storing the hashed representation of your Password.

b. Safe Practices: You agree to exercise safe security practices when accessing and conducting electronic transactions. This includes signing out and closing any online electronic transaction services once all transactions have been completed regardless of your method of accessing the GoldenCoin Platform. You agree to maintain any security measures that we recommend relating to requirements for encryption technology, virus scanning, software, firewall systems, anti-spyware software, cybersecurity measures and similar safeguards to maintain security for all electronic transaction activities.

c. Data: Private or sensitive data, such as your private key, is stored encrypted on the server-side with encryption techniques. Encryption and decryption of such data is performed on the client-side using a key derived from your Password. Every network communication with GoldenCoin servers is secured by the Transport Layer Security (TLS) protocol. GoldenCoin maintains the master copy of ownership records of each single Gold Coin. Records relating to you and your GoldenCoin Personal or Business Account will only be modified upon the execution of your valid instructions, in accordance with the terms of this Agreement. On a regular and frequent basis, but no more frequently than daily, GoldenCoin will publish reconciled and aliased customer-by-customer records of ownership of all the bullion gold coins in the vaults held by customers to both internal and independent external sources. GoldenCoin ensures that at least two widely separated data storage sites receive duplicates of the full GoldenCoin database. GoldenCoin sends daily an encrypted, electronic copy of all customers’ identities, aliases and their balances to its auditors who cannot interpret nor use this data without the decryption key.

d. Phishing: In the event that you receive an email falsely claiming to be from GoldenCoin or another group entity, or requesting sensitive information (“Phishing”), you agree that you will not provide any information or data in response and you will contact GoldenCoin’s Customer Relationship team without delay. GoldenCoin agrees that it will never ask you to provide your password over email or telephone. Should you receive an email or telephone call which you suspect is Phishing or are unsure about, you agree that you will report the phishing email or spoof site without delay in order to protect yourself and fellow GoldenCoin Users. You understand that you should not click any links from unusual emails or download any attachments in order to access your GoldenCoin Personal or Business Account.

e. Fraudulent Activity: If we suspect that fraudulent activity has taken place within your GoldenCoin Personal or Business Account, in order to protect you, you understand that we may temporarily freeze your GoldenCoin Personal or Business Account to prevent any further or continuing unauthorised activity. You will receive an email notification from GoldenCoin should this be the case. In the event that you suspect fraudulent activity, you agree to notify the Customer Relationships team immediately in order that GoldenCoin can investigate the issue and attempt to resolve it. GoldenCoin agrees that transactions found to be in error or unauthorised will be refunded back to your GoldenCoin Personal or Business Account, subject always to the terms of this Agreement.

f. Peace of Mind: If, due to unforeseen circumstances, GoldenCoin were to become insolvent or bankrupt, the insolvency or bankruptcy of GoldenCoin would not affect your property rights with regard to your bullion in a GoldenCoin Personal or Business Account.

 

6. FEES AND CURRENCY CONVERSION

 a. Overview: Rates calculated for each transaction will depend on the type of transaction, currency, and the method of payment. The rate for your transaction will be used to provide a purchase quote, which will be advised to you for your agreement prior to the transaction being finalised.

b. Gold Coin Purchase and Transfers: The purchaser of the Gold coins will always pay the purchase fee in accordance with clause 11.c.

c. Personal Transfers: Making a Personal Transfers to another GoldenCoin User by transferring title in Gold to that user as the exclusive payment method is free (“Personal Transfer”). Purchasing Gold using your credit card as the payment method may incur a service fee for processing. Personal Transfers may not be made to recipients in certain countries (as determined by GoldenCoin in its discretion from time to time). For the avoidance of doubt, the GoldenCoin Business Account and Verified Account protections do not apply to personal transfers. The buyer protections are only available to GoldenCoin Personal Verified Accounts and seller protections are available only to GoldenCoin Business Account holders.

d. GoldenCoin Business Transfers: The GoldenCoin Business Transfer Fee is paid by the business account holder in conjunction with using the GoldenCoin business transfer product (invoice, online checkout). The party transferring title to Gold Coins in connection with a GoldenCoin Business Transfer can either (a) transfer a Gold balance to a business without incurring a fee, or (b) purchase Gold for the transfer, in which case standard Gold purchase pricing applies.

e. GoldenCoin Business Transfer Fee: The GoldenCoin Business Transfer Fee will apply to each GoldenCoin Business Transfer transaction. Standard purchase and redemption fees apply and a 1% fee shall apply for use of the GoldenCoin Business Transfer tools.

f.Chargebacks: You may be subject at the final resolution of a chargeback a fee of USD25 per chargeback, at GoldenCoin’s discretion.

g. Adjustment to Fees: GoldenCoin reserves the right to adjust, introduce, or increase Fees at our sole discretion upon 30 days’ written notice to you.

 

7. STORAGE AND INSURANCE

a. Vault: All physical Gold purchased by you will be stored at Loomis International Vault in Zurich, Switzerland upon purchasing the Gold Coins using your GoldenCoin Personal or Business Account.

b. Storage Agreements: All storage agreements with Vault Operators are entered into by GoldenCoin for the protection of GoldenCoin customer deposits and withdrawals. Any storage agreement entered into by GoldenCoin with a Vault Operator provides that Gold Coins will be specifically identified and physically segregated at all times. The responsibility for the physical storage and safekeeping of your Gold Coins lies with the Vault Operator. GoldenCoin’s responsibility and liability relating to the storage of Gold extends to the entering of storage agreement as your agent and the arrangement of insurance for the same in accordance with (e) below.

c. Storage Fees:

  • GoldenCoin agrees to pay the fees to cover the costs of storage and insurance for your Gold as long as you remain a customer of GoldenCoin pursuant to this Agreement.
  • You authorise us to act as bailee on your behalf and to provide instructions to the Vault Operator and insurance company in such capacity.
  • GoldenCoin offers free storage of Gold up to 250 Gold Coins per GoldenCoin Personal or Business Account, determined at all times in GoldenCoin’s sole discretion.

d. Registered Gold Coins: The balance of Gold in your GoldenCoin Personal or Business Account quantifies the number of registered, segregated, identifiable, Gold Coins stored at the Vault Operator on behalf of GoldenCoin’s Users.

e. Insurance: GoldenCoin will ensure your gold is insured against theft and damage according to the accepted insurance standards of the bullion industry. GoldenCoin confirms to you that, in each storage agreement, the Vault Operator agrees to provide GoldenCoin with documentary evidence of insurance. You can request documentary evidence of insurance for your bullion by contacting our Customer Relationship Management Team.

 

8. TRANSFERRING GOLD COINS TO AND FROM OTHER USERS

a. Transfer Limits: GoldenCoin may, at its discretion, impose limits on the amount of Gold Coins you can transfer to another User through the Services, including Gold Coins you transfer for purchases, to assist in protecting the integrity of the GoldenCoin system or our Users from loss, or prevent fraud and limit the risk of money laundering and terrorism financing. If you have a Personal Verified Account, we may increase your transfer limits.

b. Payment method limitations: In order to manage risk, GoldenCoin may limit the transfer methods available for a transaction. In addition, transfer methods may be limited if you make a GoldenCoin transfer through certain third party websites or applications.

c. Acceptance of transfer: If you attempt to initiate a transfer of Gold Coins via an email address that does not have a GoldenCoin Personal or Business Account associated with it, the transaction will be rejected if the recipient does not sign up for a GoldenCoin Personal or Business Account within 72 hours. If you transfer gold to a GoldenCoin User, the transaction cannot be reversed. You agree that you will not hold GoldenCoin liable for any damages resulting from a recipient’s decision not to accept a transfer of Gold by signing up for a GoldenCoin Personal or Business Account. Any unclaimed, refunded or denied transfer will be returned to your Balance within 30 Days of the date you initiated the transfer.

d. Accuracy: You are responsible for confirming the accuracy of the information you provide about each transfer of Gold Coins that you initiate, including the email address or telephone number of the recipient, and the amount of the transaction.

e. Mobile App: If you use the GoldenCoin mobile app, you are responsible for any fees that your phone service provider charges for such use, including fees for SMS or data usage. Your phone service provider is not the provider of the GoldenCoin Services.

f. Receiving Gold: If you are selling goods or services, you may not ask the buyer to send you a personal transfer for the purchase. If you do so, GoldenCoin may remove your ability to accept Personal Transfers.

g. Receiving Limits: We may, at our discretion, impose limits on the amount of Gold Coins that can be transferred to you. You can view your receiving limit, if any, by logging into your GoldenCoin Personal or Business Account Profile.

h. Transaction Review: GoldenCoin reserves the right to review certain potentially high-risk transactions. If a transaction is being reviewed, GoldenCoin may place a hold on the transaction and provide notice to the recipient. GoldenCoin will then conduct a review and either clear or cancel the payment. If the transaction is cleared, GoldenCoin will provide notice to the recipient. Otherwise, GoldenCoin will cancel the transaction and the Gold will be returned to the buyer.

i. Risk of Reversals, Chargebacks and Claims: When you receive a transfer of Gold Coins, you are liable to GoldenCoin for the full amount of the transfer plus any applicable fees if the transaction is later invalidated for any reason. This means that, in addition to any other liability, you will be responsible for the amount of the Gold transferred to you, plus the applicable Fees listed in section 7 of this Agreement if you lose a claim or a Chargeback, or if there is a Reversal of the transaction. You agree to allow GoldenCoin to recover any amounts due to GoldenCoin by debiting your Balance. If there are insufficient Gold Coins in your Balance to cover your liability, you agree to reimburse GoldenCoin through other means.

j. Refund and Reversal currencies: All refunds and reversals will be made in Gold Coins as the original amount of the transaction.

k. Taxes: It is your responsibility to determine what, if any, taxes apply to the transfers you make or receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. GoldenCoin is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.

l. Your Refund Policy and Privacy Policy: If you sell goods or services, we recommend that you have a published return policy and a published privacy policy on your website or at your point of sale.

m. Eligibility: In order to be eligible for sending or receiving transfers, United States resident users must (a) have a Personal or Business verified Account and (b) live in a state which has the payment functionality available from time to time.

 

9. GOLDENCOIN CLUB

a. Air Ambulance Medical Services – Please refer to MediJet Terms

b. Aiport Lounge Access / Priority Pass – Please refer to Priority Pass Terms.

c. Personal Assistance 24/7  – Please refer to PA 24/7 Terms.

d. Exclusive Hotels at Special Rates – Please refer to Hotels Terms.

 

10. SALE AND PURCHASE OF GOLD COINS

a. Purchasing Gold Coins: You may purchase GoldCoins  through the GoldenCoin Platform in accordance with this Agreement by way of payments made with currency from a personal authorised bank account, virtual currency wallet, debit or credit card, in your own name which you have linked to your GoldenCoin Personal or Business Account. In certain circumstances, GoldenCoin may be required to reject a wire sent to it and will be unable to settle a purchase of Gold Coins as instructed. This may happen if the details you provide are insufficient, the receiving institution cannot be identified, amounts less than the market price of 1 Oz American Gold Eagle Coin, or the currency is not one of the currencies accepted by GoldenCoin from time to time. Incoming wire transfers will be rejected if they are sent from a third party or from a bank in a country which GoldenCoin, in its discretion, deems to pose a high risk. When you send a wire transfer or use a debit card to purchase Gold, you are requesting an electronic transfer from your bank account. For these transactions, GoldenCoin will make electronic transfers from your bank account in the amount you specify. You agree that such requests constitute your authorization to GoldenCoin to make the transfers. Once you have provided your authorization for the transfer, you will not be able to cancel the electronic transfer. You give GoldenCoin the right to resubmit any debit you authorised that is returned for insufficient or uncollected Gold Coins. GoldenCoin’s minimum buy order is 1 Oz American Gold Eagle Coin.

b. Selling Gold Coins: You may, at any time, request the sale to GoldenCoin of the Gold Coins in your GoldenCoin Personal or Business Account. GoldenCoin is not obligated to purchase Gold Coins. Any sale to GoldenCoin of the Gold Coins will be at the sell price at the time of processing, determined by GoldenCoin in its discretion from time to time. You authorise GoldenCoin to identify the specific Gold Coins  that it will purchase. GoldenCoin will reflect the sale in your GoldenCoin Personal or Business Account immediately, but title to the Gold Coins will transfer to GoldenCoin when it initiates payment to you. When GoldenCoin accepts your request to sell Gold Coins to it, GoldenCoin will send the payment to your Prepaid Card or your authorised personal bank account. GoldenCoin will pay you for the Gold that it purchases in the currency that you designate (provided that GoldenCoin agrees to make payments in that currency). The daily amount you may instruct GoldenCoin to send to your Prepaid Card as payment for sales of Gold to GoldenCoin might be limited by the third party operator that issues or manages the Prepaid Card and GoldenCoin reserves the right to limit transactions in its discretion. GoldenCoin does not allow payments for Gold Coin purchases to be made with a third-party wire transfer, and will not pay for Gold Coins that it purchases by making a third-party wire transfer. GoldenCoin will initiate payment to your bank account or Prepaid Card as instructed by you and agreed to by GoldenCoin.

c. Price Calculation: You agree that the price for any purchase or redemption of Gold for any transaction within your GoldenCoin Personal or Business Account will be based on the Gold Spot Price plus Premium as expressed in the Price List published on the GoldenCoin Website and in the GoldenCoin Mobile App. The Gold Spot Price is reproduced on the GoldenCoin Website continuously, with the live price displayed, being the average of the BBO at any given time. The price at which GoldenCoin will sell Gold Coins to you is the average Best Bid or BBO plus the applicable Premium. The exception is for transactions occurring on weekends and holidays in New York when there is no BBO quotation from counterparties, at which time the rate will be the rate posted on the GoldenCoin Website. During this time, GoldenCoin prices will reflect the internal liquidity provided by the GoldenCoin market making operations and a purchase quote will be provided to you within your order at the time of you making your transaction for transactions occurring from Friday at 5:01pm EST to Sunday 6:29pm EST.

d.Restrictions:

  • GoldenCoin reserves the right to restrict Users,  at its discretion, from sending proceeds from the sale of Gold Coins to a bank account held outside their country of residence.
  • GoldenCoin further reserves the right to reject or suspend a sale of Gold Coins, at its discretion, in circumstances where it has queries or concerns, including but not limited to source of funds, verification of user, or payment source.
  • In the event that a User’s Personal or Business Account is closed or suspended in accordance with these Terms, GoldenCoin is entitled, at its discretion, to credit the User’s credit card with the original national currency amount, foregoing any profit or loss made in the gold price in the interim period.

 

11. PREPAID CARD

a. Application: Upon verification of your GoldenCoin Personal or Business Account, you can apply for a Prepaid Card which is linked to your GoldenCoin Personal or Business Account. If your Prepaid Card application is approved by our third-party partner, which approval is subject to your provision of any information and documentation requested by GoldenCoin and given at the sole discretion of GoldenCoin, you will be issued a Prepaid Card by our third-party partner. The Prepaid Card will allow you to access the Gold Coins in your GoldenCoin Personal or Business Account to complete purchases with the Prepaid Card.

b. Applicable terms: In addition to the terms set out in this Agreement, your Prepaid Card will also be subject to the terms and conditions set out in the Cardholder Agreement between you and our third-party partner.

 

12. REDEEMING PHYSICAL GOLD COINS

a. Physical Gold Coins: You can redeem your  Gold Coins  in the form of coins,  rolls of 20 coins, and  boxes of 500 coins (25 rolls of 20 coins) at any time.

b. Fees and Charges: Physical redemptions are subject to a processing fee payable from the redeeming GoldenCoin Personal or Business Account as specified in the price table under FAQ on the GoldenCoin website. Redemptions of physical gold will incur shipping and insurance charges which will be agreed with you in advance. You are responsible for the payment of any insurance, delivery, and transportation fees, which will be advised to you and agreed with you in advance. In the event that a shipment is lost in transit, the shipment will be covered by the insurance which is arranged by GoldenCoin and paid for by you. It is your responsibility to ensure that sufficient Gold Coins are available in your GoldenCoin Personal or Business Account at the effective time of any Gold Coin transfer or payment to satisfy in full any such Gold transfer or payment. Requested transactions may not be processed if you do not have sufficient Gold in your GoldenCoin Personal or Business Account.

c. Delivery: Please note that packaging of gold coins may vary. We confirm that you will always receive the coins that you have ordered; however, from time to time, we may need to send the coins in smaller deliveries. For example, if you order forty coins, you may receive two packets of twenty coins each, rather than one packet of forty coins.

 

13. RESTRICTED ACTIVITIES

You agree that you will not:

a. Breach this Agreement or any other agreement or policy that you have agreed to with GoldenCoin;

b. Violate any law, statute, ordinance, or regulation (for example, those governing financial services, consumer protection, unfair competition, anti-discrimination, anti-bribery and anti-corruption, or false or misleading advertising);

c. Infringe on GoldenCoin’s or any third party’s intellectual property rights, including copyright, patent, trademark, trade secret, or rights of publicity or privacy;

d. Sell counterfeit goods;

e. Act in a manner that is defamatory, trade libelous, threatening, or harassing;

f. Provide false, inaccurate, or misleading information;

g. Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;

h. Conduct your business or use the GoldenCoin Services in a manner that results in, or may result in, complaints, disputes, claims, reversals, chargebacks, fees, fines, penalties, and other liability to GoldenCoin, other uses, third parties, or you;

i. Have a credit score from a credit reporting agency that indicates a high level or risk associated with your use of the GoldenCoin Services;

j. Use your GoldenCoin Personal or Business Account or the GoldenCoin Services in a manner that GoldenCoin, Visa, WaveCrest or any electronic funds transfer network reasonably believes to be an abuse of the card system or a violation of card association or network rules;

k. Access the GoldenCoin Services from a country that is not included on GoldenCoin’s permitted countries list;

l. Take any action that imposes an unreasonable or disproportionately large load on our infrastructure; facilitate any viruses, Trojan horses, worms, or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept, or expropriate any system, data, or information; use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our Website without our prior written permission; or use any device, software, or routine to bypass our robot exclusion headers, or interfere or attempt to interfere with our Website or the GoldenCoin Services;

m. Take any action which may cause us to lose any of the services from our internet service providers, payment processors, or other suppliers;

n. Allow your use of the GoldenCoin Services to present to GoldenCoin a risk of non-compliance with GoldenCoin’s anti-money laundering, counter terrorist financing, and similar regulatory obligations (including, without limitation, where we cannot verify your identity); or

o. Harass and/or threaten our employees, agents, or other users. (“Restricted Activities”)

 

14. ACCEPTABLE USE POLICY

a. Policy: You may not use the GoldenCoin Platform or GoldenCoin Services for activities that:

  • violate any law, statute, ordinance, or regulation, including but not limited to the laws of Zug, Switzerland, or that applicable in the territory in which you reside.
  • relate to transactions involving (i) narcotics, steroids, certain controlled substances, or other products that present a risk to consumer safety, (ii) drug paraphernalia, (iii) cigarettes, (iv) items that encourage, promote, facilitate, or instruct other to engage in illegal activity, (v) stolen goods including digital and virtual goods, (vi) the promotion of hate, violence, racial intolerance or the financial exploitation of a crime, (vii) items that are considered obscene, (viii) items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction, (ix) certain sexually oriented materials or services, (x) ammunition, firearms or certain firearm parts or accessories, (xi) certain weapons or knives regulated under applicable law or (xii) gambling, gaming and/or any other activity with an entry fee and a prize, including but not limited to casino games, sports betting, racing, fantasy sports, lottery tickets, other ventures that facilitate gambling, games of skills and sweepstakes.
  • relate to transactions that (i) show the personal information of third parties in violation of applicable law, (ii) support pyramid or Ponzi schemes, matrix programs, other ‘get rich quick’ schemes or certain multi-level marketing programs, (iii) are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card, (iv) are for the sale of certain items before the seller has control or possession of the item, (v) are by payment processors to collect payments on behalf of merchants, (vi) are associated with the sale of traveler’s checks or money orders, (vii) involve currency exchanges or check cashing businesses, (viii) involve certain credit repair, debt settlement services, credit transactions or insurance activities, or (ix) involve offering or receiving payments for the purpose of bribery or corruption.
  • i. involve the sales of products or services identified by government agencies to have a high likelihood of being fraudulent.

 

15. YOUR LIABILITY: ACTIONS GOLDENCOIN MAY TAKE

a. General: You are responsible for all Reversals, Chargebacks, claims, fees, fines, penalties, or other liabilities incurred by GoldenCoin, another User, or a third party caused by or arising out of your breach of this Agreement, and/or your use of the GoldenCoin Services. You agree to reimburse GoldenCoin, a User, or a third party for any and all such liability.

b.Liability for Claims under GoldenCoin Business and Verified Personal Account Protection: Where protection applies to you and you are a Seller, and GoldenCoin makes a final decision that you lose a dispute filed directly with GoldenCoin, you will be required to reimburse GoldenCoin for your liability. Where you receive a transfer of Gold from a GoldenCoin Personal or Business Account holder and we determine under this Agreement that the Gold received should be returned or reversed, you will be subject to reimburse GoldenCoin for your liability. Your liability will include the full purchase price of the item or services plus the original shipping cost, if applicable (and in some cases you may not receive the item back). You will not receive a refund of your GoldenCoin fees.

c. SNAD Claims: If a Buyer files a “Significantly Not as Described (SNAD)” claim for an item they purchased from you as a Seller, you will generally be required to accept the item back and refund the Buyer the full purchase price plus original shipping costs. You will not receive a refund on your GoldenCoin fees. Further, if you lose a SNAD claim because we, in our sole discretion, reasonably believe the item you sold is in breach of clauses 14 or 15 of this Agreement, you will be required to provide a full refund to the Buyer and you will not receive the item back (it will be destroyed). GoldenCoin Business Account protections will not cover your liability.

d. Reimbursement for Your Liability: In the event that you are liable for any amounts owed to GoldenCoin, GoldenCoin may immediately remove Gold equal in value to such amounts from your Gold Balance.

e. Restricted Activities: If GoldenCoin, in its sole discretion, believes that you may have engaged in any Restricted Activities, we may take various actions to protect GoldenCoin, other Users, other third parties, or you from Reversals, Chargebacks, claims, fees, fines, penalties and any other liability. The actions we may take include but are not limited to the following: We may close, suspend, or limit your access to your GoldenCoin Personal or Business Account or the GoldenCoin Services (such as limiting access to any of your payment methods, and/or your ability to transfer Gold, sell Gold to GoldenCoin, make withdrawals, or remove financial Information); Subject to applicable privacy laws, we may contact Users who have purchased goods or services from you, contact your bank or credit card issuer, and/or warn other Users, law enforcement, or impacted third parties of your actions; We may update inaccurate information you provided to us; We may refuse to provide the GoldenCoin Services to you in the future; We may hold your Gold for up to 180 Days if reasonably needed to protect against the risk of liability or if you have violated our Acceptable Use Policy; We may take legal action against you; and If you violate the Acceptable Use Policy, in addition to the above actions, you will be liable to GoldenCoin for the amount of GoldenCoin’s damages caused by your violation of the Acceptable Use Policy. GoldenCoin may deduct such damages directly from any existing Balance in the offending GoldenCoin Personal or Business Account, or any other GoldenCoin Personal or Business Account you control.

f. Termination: GoldenCoin, in its sole discretion, reserves the right to terminate this Agreement, access to the GoldenCoin Website, or access to the GoldenCoin Services for any reason and at any time upon notice to you and payment to you of any unrestricted Gold held in custody for you.

g. Holds: GoldenCoin reserves the right to implement the following holds: Risk-Based Holds. GoldenCoin implements many layers of advanced transaction, and account monitoring for your safety. To protect you and other GoldenCoin users, GoldenCoin, in its sole discretion, may place a hold on any or all of the transfers of Gold to you when GoldenCoin believes there may be a high level of risk associated with you, your Account, or any or all of your transactions. GoldenCoin’s determination may be based on a number of different factors and GoldenCoin may rely on information it receives from third parties. If GoldenCoinplaces a hold on a payment, the Gold payment will appear as “Pending”. GoldenCoin will release the hold on any Gold transfer after 21 Days from the date the Gold was received into your Account unless you receive a dispute, claim, Chargeback, or Reversal. GoldenCoin, in its sole discretion, may release the hold earlier under certain circumstances. If you receive a dispute, claim, Chargeback, or Reversal, GoldenCoin may continue holding the Gold in your GoldenCoin Personal or Business Account until the matter is resolved pursuant to this Agreement. Disputed Transaction Holds. If a User files a dispute, claim, Chargeback or Reversal in connection with a transfer of Gold to you, GoldenCoin may place a temporary hold on the Gold in your Account to cover the amount of the liability. If you win the dispute or the transaction is eligible for GoldenCoin Business Account protection, GoldenCoin will lift the temporary hold. If you lose the dispute, GoldenCoin will remove the Gold from your GoldenCoin Personal or Business Account.

i. Reserves: GoldenCoin, in its sole discretion, may place a Reserve on Gold held in your GoldenCoin Personal or Business Account when GoldenCoin believes there may be a high level of risk associated with your GoldenCoin Personal or Business Account. If GoldenCoin places a Reserve on Gold in your GoldenCoin Personal or Business Account, they will be shown as “pending” in your GoldenCoin Balance. If your Account is subject to a Reserve, GoldenCoin will provide you with notice specifying the terms of the Reserve. The terms may require that a certain percentage of the amounts received into your Account are held for a certain period of time, or that a certain amount of Gold is held in reserve, or anything else that GoldenCoin determines is necessary to protect against the risk associated with your GoldenCoin Personal or Business Account. GoldenCoin may change the terms of the Reserve at any time by providing you with notice of the new terms.

j. GoldenCoin Personal or Business Account Closure, Termination of Service, Limited Account Access: If we close your GoldenCoin Account or terminate your use of the GoldenCoin Services for any reason, we will provide you with notice of our actions. If we limit access to your GoldenCoin Personal or Business Account, including through a Reserve or hold, we will provide you with notice of our actions, and the opportunity to request restoration of access if, in our sole discretion, we deem it appropriate. Further, you acknowledge that GoldenCoin’s decision to take certain actions, including limiting access to your GoldenCoin Personal or Business Account by placing holds or imposing Reserves, may be based on confidential criteria that is essential to our management of risk and the security of Users’ GoldenCoin Personal or Business Accounts and the GoldenCoin system. You agree that GoldenCoin is under no obligation to disclose the details of its risk management or its security procedures to you.

 

16. PROTECTION FOR SELLERS

a. GoldenCoin Business Account Protection: This is dispute resolution process we provide Business Account holders. GoldenCoin will provide support for any claims made that are based on an “Unauthorised Transaction” or “Item Not Received” to resolve transactions fairly.

b. Eligibility: To be eligible for GoldenCoin Business Account protections, you must meet all of the basic requirements listed below under (c) Basic Requirements. To be covered for “Item Not Received protection”, you must meet both the (c) Basic Requirements and (d) Item Not Received Additional Requirements. To be covered for “Unauthorised Transaction protection”, you must meet both the Basic Requirements and the Unauthorised Transactions Additional Requirements listed below under (e).

c. Basic Requirements: You must be a verified GoldenCoin Business Account holder. You must ship the item to the shipping address provided by the buyer. You must respond to GoldenCoin’s requests for documentation and other information in a timely manner. The item must be a physical, tangible good that can be shipped.

d. Item Not Received Additional Requirements: You must provide Proof of Delivery (defined in (f) below). The item was shipped within 7 Days of receipt of the Gold transfer as payment or, if the gold transfer is for pre-ordered or made-to-order goods, shipment is made within the timeframe specified in your item listing.

e. Unauthorised Transactions Additional Requirements: The transaction must be marked “eligible” for GoldenCoin Business Account protection. You must provide Proof of Shipment or Proof of Delivery.

f. Items/transactions not eligible for GoldenCoin Business Account Protection: The following are examples of items/ transactions not eligible for GoldenCoin’s Business Account Protection: Claims or Chargebacks for Significantly Not as Described (SNAD). Items that you deliver in person, including at a retail point of sale. Intangible items, including Digital Goods, and services. Items that are not shipped to the recipient’s shipping address as provided by the Buyer. We recommend that you do not use a shipping service arranged by the Buyer, so that you will be able to provide valid proof of shipping and delivery.

 

17. RESOLUTION PARAMETERS

a. Protection for Unauthorised Transactions and Processing Errors: GoldenCoin will cover you for the full amount of every eligible unauthorised transaction or processing error within your GoldenCoin Personal or Business Account, as long as you follow the procedures set out in this clause 18.

b. Scope: An unauthorised transaction is a type of error that occurs when Gold is sent from your GoldenCoin Personal or Business Account that you did not authorise and that did not benefit you. For example, if someone steals your password, through no fault of your own, uses the password to access your GoldenCoin Personal or Business Account, and sends a transfer from your GoldenCoin Personal or Business Account, an unauthorised transaction has occurred. If you give someone access to your GoldenCoin Personal or Business Account (by giving them your login information) and they conduct transactions without your knowledge or permission, you are responsible for any resulting use. These transactions are not covered under any GoldenCoin protection programs. Examples of processing errors include Gold incorrectly taken from your GoldenCoin Personal or Business Account or incorrectly placed into your GoldenCoin Personal or Business Account, transactions being incorrectly recorded in your GoldenCoin Personal or Business Account, a missing transaction, or a transaction not properly identified in your GoldenCoin Personal or Business Account history. You may request documentation or information regarding your Account or transaction to determine whether an unauthorised transaction or processing error exists by contacting us through the contact link at the bottom of each page of the GoldenCoin website.

c. Notification Requirements: You should immediately notify GoldenCoin if you believe: there has been an unauthorised transaction or unauthorised access to your GoldenCoin Personal or Business Account; there is an error in your GoldenCoin Personal or Business Account or activity or transaction confirmation sent to you by email; your password has been compromised; your phone on which you have installed the GoldenCoin mobile app has been lost, stolen or deactivated; or you need more information about a transaction or transaction confirmation.

d. Eligibility: To be eligible for protection for errors in your GoldenCoin Personal or Business Account, you must notify us within 60 Days of any unauthorised transaction or processing error first appears in your GoldenCoin Personal or Business Account activity. You should regularly log into your Dashboard and review your GoldenCoin Personal or Business Account activity to ensure that there has not been an unauthorised transaction or processing error. GoldenCoin will also send an email to the primary email address you have provided in order to notify you of each transaction from your GoldenCoin Personal or Business Account. You should also review these transaction confirmations to ensure that each transaction was authorised and is accurate. For unauthorised transactions or processing errors in your GoldenCoin Personal or Business Account, notify us at [email protected]

e. Information required: When you notify us, provide us with all of the following information:

  • Your name and email address registered to your GoldenCoin Personal or Business Account;
  • A description of any suspected unauthorised transaction or processing error and an explanation as to why you believe it is incorrect or why you need more information to identify the transaction; and
  • The Oz gold amount of any suspected unauthorised transaction or processing error.

f. Form of notification: If you notify us orally, we may require that you send us your complaint or question in writing within 10 Days. During the course of our investigation, we may request additional information from you.

g. GoldenCoin actions after receipt of your notification: Once you notify us of any suspected unauthorised transaction or processing error, or we otherwise learn of one, we will do the following: We will conduct an investigation to determine whether there has been an unauthorised transaction or processing error that is eligible for protections. We will complete our investigation within 30 Days of the date we received your notification of the suspected unauthorised transactions or processing error. If we decide that we need more time to complete our investigation, we will provisionally credit your GoldenCoin Personal or Business Account for the amount of the suspected error. You will receive the provisional credit within 10 Days of the date we received your notice (or 20 Days for new GoldenCoin Personal or Business Accounts). This will allow you to have use of the Gold until we complete the investigation. We will notify you of the provisional credit within 2 Days of the crediting. If we ask you to put your complaint or question in writing and we do not receive it within 10 Days (or 20 Days for new GoldenCoin Personal or Business Accounts), we will not provisionally credit your GoldenCoin Personal or Business Account. We will inform you of our decision within 3 Days after completing our investigation. If we determine that there was an error, we will promptly credit the full amount of the error into your GoldenCoin Personal or Business Account within 1 Day of our determination. Or, if you have already received a provisional credit, you will be allowed to retain those amounts. If we decide that there was not an error, we will include an explanation of our decision in our email to you. If you received a provisional credit, we will remove it from your GoldenCoin Personal or Business Account and notify you of the date and amount of the debit. You may request copies of the documents that we used in our investigation.

 

18. PROTECTION FOR BUYERS

a. Scope: GoldenCoin Verified Account Protection helps GoldenCoin Verified Account holders and provides support for claims where you encounter either of these problems: You did not receive the item you paid for with GoldenCoin (“Item Not Received” (INR)); or You received an item you paid for with GoldenCoin but it is “Significantly Not as Described” (SNAD)”. If your problem is a transaction that you did not authorise, please report the unauthorised transaction through the Transaction Details.

b. Eligibility: To be eligible for GoldenCoin Verified Account Protection you must: have a Verified GoldenCoin Personal or Business Account in good standing; pay for the eligible item using Gold from your Verified GoldenCoin Account; pay for the full amount of the item with one transfer of Gold from your GoldenCoin Personal or Business Account. Items purchased with multiple Gold transfers – like a deposit followed by a final transfer – are not eligible; open a dispute under the Dispute Resolution section; and not have claimed or received an amount in recovery related to an eligible purchase from any other source.

c. Ineligible items: Transfers for the following are not eligible for reimbursement under GoldenCoin Verified Account Protection: Real estate, including residential property Businesses Vehicles, including motor vehicles, motorcycles, caravans, aircraft and boats Significantly Not As Described issues for custom made items Items prohibited under the Acceptable Use Policy For Item Not Received claims, items which you collect in person, or arrange to be collected on your behalf, including at the retail point of sale Industrial machinery used in manufacturing Items equivalent to cash, including prepaid or gift cards Personal Transfers Even if your transfer is not eligible for GoldenCoin Verified Account Protection, you can file a dispute and try to resolve the issue directly with the Seller; however, GoldenCoin will generally not find in your favor if you raise a dispute for an item which is not eligible for GoldenCoin Verified Account Protection.

d. Coverage Amount: If you are eligible for GoldenCoin Verified Account Protection and GoldenCoin finds in your favor on your claim, GoldenCoin will reimburse you for the full purchase price of the item and original shipping costs, with no cap on coverage. GoldenCoin will not reimburse you for the return shipping costs that you incur to return a Significantly Not As Described item to the Seller or other party specified by GoldenCoin. If the Seller presents evidence that they delivered the goods to your address, GoldenCoin may find in favor of the Seller for an Item Not Received claim even if you did not receive the goods.

e. Dispute Resolution: The following process applies for a dispute resolution: Attempt to contact the other party directly through the existing contact information you have on the account. If you are unable to resolve matters with the seller or the seller has not responded, open a dispute through the Resolution Centre within 30 calendar days of the date you made the transfer for the item you would like to dispute. We will place a hold on all Gold related to the transaction in the Seller’s GoldenCoin Personal or Business Account until the dispute is resolved or closed. To file a dispute, you must provide certain information in the form provided, including (1) transaction ID number, (2) transaction date, (3) amount in Gold Coins, (4) historical basis in currency, (5) price per 1 Oz Gold Coin, (6) transaction description, (7) merchant status, merchant business name, location, customer service email, (8) buyer’s status (ie verified or non-verified), and (9) buyer’s full name, location, and email address. GoldenCoin will, within 7 Days, review the dispute and advise you whether the matter escalates to a claim or has been rejected. If the dispute has been rejected, you will be provided with a reason for the same. You are required, as part of the dispute resolution process to: Respond to GoldenCoin’s requests for information in a timely manner. During the dispute process, GoldenCoin may require you to provide documentation to support your position. You may be asked to provide receipts, third party evaluations, police reports, or anything else that GoldenCoin specifies. Comply with GoldenCoin’s shipping requests in a timely manner. For Significantly Notas Described (SNAD) claims, GoldenCoin may require you, at your expense, to ship the item back to the Seller, or to GoldenCoin, or to a third party and to provide proof of delivery. GoldenCoin retains full discretion to make a final decision in favor of the buyer or the Seller based on any criteria GoldenCoin deems appropriate.

f. Claim Resolution Process: In the event that GoldenCoin makes a final decision in favor of the buyer or Seller, each party must comply with GoldenCoin’s decision. In the event a Seller loses a claim, the Seller will not receive a refund on his or her GoldenCoin fees associated with the transaction. If you file a SNAD claim because the item you bought is counterfeit, we may request that you destroy the item. GoldenCoin may limit the number of automatic reversals that you benefit from. If these are limited, you will still be able to follow GoldenCoin’s standard dispute resolution processes described in this clause 19 to attempt to resolve the issue with the Seller directly.

g. Relationship between GoldenCoin’s protection programs and Chargebacks: This clause applies where you use your credit card to purchase Gold with GoldenCoin. Credit card Chargeback rights, if they apply, are broader than GoldenCoin’s protection programs. Chargebacks may cover unsatisfactory items even if they do not qualify as SNAD, and may cover intangible items. You may pursue a dispute/claim with GoldenCoin, or you may contact your credit card company and pursue your Chargeback rights. You may not pursue both at the same time or seek a double recovery. If you have an open dispute or claim with GoldenCoin, and also file a Chargeback with your credit card company, GoldenCoin will close your dispute or claim, and you will have to rely solely on your Chargeback rights. Before contacting your card issuer or filing a dispute with GoldenCoin, you should contact the Seller to resolve your issue in accordance with the Seller’s return policy as stated on their auction or website.

h. Exclusions: If we reasonably determine, having considered all the relevant circumstances, that you have made an excessive or unreasonable number of claims, Reversals or Chargebacks, we may exclude you from the GoldenCoin Personal or Business Verified Account Protection policy and deny all open and future claims, or take any other actions pursuant to this Agreement. We will notify you if you are excluded.

 

19. DISPUTES WITH GOLDENCOIN

a. Contact GoldenCoin First If: If a dispute arises between you and GoldenCoin, our goal is to learn about and address your concerns and, if we are unable to do so to your satisfaction, to provide you with a neutral and cost effective means of resolving the dispute quickly. Disputes between you and GoldenCoin regarding the GoldenCoin Services may be reported to our Customer Success Team.

b. Arbitration: For any dispute excluding for injunctive or other equitable relief, the party requesting relief may be eligible to elect to resolve the dispute in a cost effective manner through binding non-appearance-based arbitration. If a party elects arbitration, that party will initiate such arbitration through an established alternative dispute resolution (“ADR”) provider mutually agreed upon by the parties. The ADR provider and the parties must comply with the following rules: (a) the arbitration shall be conducted by telephone, online and/or be solely based on written submissions, the specific manner shall be chosen by the party initiating the arbitration; (b) the arbitration shall not involve any personal appearance by the parties or witnesses unless otherwise mutually agreed by the parties; and (c) any judgment on the award rendered by the arbitrator may be entered in any court of competent jurisdiction.

 

20. LEGAL

a. Limitation of liability: Nothing in this Agreement excludes or limits the liability of GoldenCoin for death, personal injury, fraud, or fraudulent misrepresentation. Subject to the above, in no event shall we (including for greater certainty, our  affiliates), and the officers, directors, agents, employees, and suppliers of GoldenCoin (including for greater certainty, our affiliates) be liable for lost profits or any special, incidental, indirect, or consequential, or punitive damages (including without limitation damages for loss of data or loss of business) arising out of or in connection with our website, the services, or this Agreement (however arising, including negligence), unless and to the extent prohibited by law. Our liability (including for greater certainty, our  affiliates), and our (and their respective) officers, directors, agents, employees, and suppliers, to you or any third parties in any circumstance is limited to the actual amount of direct damages. In addition, to the extent permitted by applicable law, GoldenCoin (including for greater certainty, our parent and affiliates), and our (and their respective) officers, directors, agents, employees, and suppliers are not liable, and you agree not to hold these parties responsible, for any damages or losses (including, but not limited to, loss of money, goodwill, reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from: (a) your use of or your inability to use the GoldenCoin Website or GoldenCoin Services; (b) delays or disruptions in GoldenCoin’s sites and GoldenCoin Services; (c) viruses or other malicious software obtained by accessing the GoldenCoin Website or GoldenCoin Services or any website or service linked to the GoldenCoin Website or GoldenCoin Services; (d) glitches, bugs, errors, or inaccuracies of any kind in or on the GoldenCoin Website or GoldenCoin Services or in the information and graphics obtained from them; (e) the content, actions, or inactions of third parties; (f) a suspension or other action taken with respect to your GoldenCoin Personal or Business Account; (g) any loss as a result of risks associated with online trading, including software and hardware failure latent defect, loss of data, delays, failure, errors, omissions, or losses of transmitted information or instructions, power outages, internet failure, hackers, denial of service (DoS) attacks, viruses, or other contaminating or destructive properties; (h) for any fees, duties, taxes, or loss as a result of theft or any other loss of Gold after it has been removed from the Vault at your request for delivery or collection; (i) information sent over the internet may not be completely secure and the internet and related online systems may not function at all times. We are not responsible for any loss or damages you may incur if a third party obtains access to your confidential information transmitted over the Internet or if you are temporarily unable to determine your balance on the GoldenCoin Platform; (j) your need to modify practices, content, or behavior, or your loss of or inability to do business as a result of changes to this Agreement or GoldenCoin’s policies. GoldenCoin reserves the right to modify its policies and this Agreement at any time consistent with the provisions outlined herein. GoldenCoin will not be in breach of this Agreement or otherwise liable for any loss suffered or incurred as a result of any delay in performance or any non-performance of any obligations under this Agreement (and, where relevant, the time for performance will be extended accordingly) if and to the extent that the delay or non-performance is owing to Force Majeure or neglect, serious fault or willful misconduct on the part of you including any failure to keep your Password secure and any failure to comply with this Agreement or associated policies.

b. No Warranties: GoldenCoin, its employees, and its suppliers provide the GoldenCoin Services “as is” and without any warranty or condition, express or implied, or statutory. GoldenCoin, its employees, and its suppliers specifically disclaim any implied warranties of title, merchantability, fitness for a particular purpose, and non-infringement. GoldenCoin does not have any control over the products or services that are paid for with the GoldenCoin Services and GoldenCoin cannot ensure that a buyer or a seller you are dealing with will actually complete the transaction or is authorised to do so. You are responsible for conducting appropriate due diligence on parties with whom you choose to deal and you accept that GoldenCoin does not accept liability for any fraudulent or misleading actions of parties to whom you make and from whom you receive transfer. GoldenCoin does not guarantee continuous, uninterrupted or secure access to any part of the GoldenCoin Platform, and operation of our site may be interfered with by numerous factors outside of our control. GoldenCoin will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts and credit cards are processed in a timely manner but GoldenCoin makes no representations or warranties regarding the amount of time needed to complete processing because the GoldenCoin Services are dependent upon many factors outside of our control, including for example, delays in the banking system. To the extent that the State in which you reside does not permit the disclaimer of implied warranties, the foregoing disclaimers may not apply to you. This section gives you specific legal rights and you may also have other legal rights that vary from State to State. This clause shall survive termination of the Agreement or closure of your GoldenCoin Personal or Business Account.

c. Force majeure: Neither party shall be in breach of this Agreement nor liable for delay in performing, or failure to perform, any of its obligations under this Agreement if such delay or failure result from events, circumstances or causes beyond its reasonable control. In such circumstances, the affected party shall be entitled to a reasonable extension of the time for performing such obligations. If the period of delay or non-performance continues 6 months, if the GoldenCoin User is not affected, he or she may terminate this Agreement by closing his or her GoldenCoin Personal or Business Account and thereby terminating this Agreement in accordance with clause 4.

d. Market disruption: In the case of market distortion, volatile markets, systems (including third party systems upon which GoldenCoin is reliant) being hacked, and market disruption, GoldenCoin reserves the right to adjust an order if the metal and currency quotes received from GoldenCoin’s data source, when the order was placed, is found to be incorrect. GoldenCoin will contact you if an order needs to be adjusted due to incorrect market data, and you may cancel the order if you do not want to trade on the corrected market rate.

e. Law and forum: This Agreement will be governed by and interpreted in accordance with the laws of Zug,  Switzerland . Except as otherwise agreed by the parties, you agree to irrevocably submit to the nonexclusive jurisdiction of the courts of Zug for the purpose of any suit, action or other proceeding arising out of this Agreement or your use of the GoldenCoin Website or the GoldenCoin Services.

f. No Waiver: Our failure to act with respect to a breach by you or others does not waive our right to act with respect to subsequent or similar breaches.

g. Indemnification: You agree to defend, indemnify, and hold GoldenCoin, its officers, directors and employees harmless from any claim or demand (including attorneys’ fees) made or incurred by any third party due to or arising out of your breach of this Agreement and/or your use of the GoldenCoin Services.

h. Assumption of Rights: If GoldenCoin pays out a claim, reversal or Chargeback that you file against a recipient of your transfer, you agree that GoldenCoin assumes your rights against the recipient and third parties related to the transfer, and may pursue those rights directly or on your behalf, at GoldenCoin’s discretion.

i.Release of GoldenCoin: If you have a dispute with one or more users, you release GoldenCoin (and our officers, directors, agents, and employees) from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes.

j. Death or incapacity: If you die or otherwise become incapacitated, we will take instructions in respect of your GoldenCoin Personal or Business Account from your authorised executor or administrator upon delivery to us of sufficient proof of authority of such executor or administrator and the documentation as requested.

k. Right of set-off: You shall be under an obligation to pay all amounts due under this Agreement in full without any deduction or withholding except as required by law and you shall not be entitled to assert any credit, set-off, or counterclaim against GoldenCoin in order to justify withholding or disputing payment of any such amount in whole or in part. GoldenCoin may, without limiting its other rights or remedies, set-off any amount owing to it (or to any of its affiliates) by you against any amount payable by GoldenCoin to you.

l. Entire agreement: This Agreement, along with any applicable policies and agreements on the Legal Agreements page on the GoldenCoin Website, sets forth the entire understanding between you and GoldenCoin with respect to the Services. In the event any provision (or part of any provision) of this Agreement shall for any reason be held by a court or any other competent authority to be invalid, illegal, or unenforceable, that provision, to the extent required, shall be deemed deleted and the remaining provisions shall remain valid and enforceable.

m. Rights of third parties: A person who is not a party to this Agreement shall not have any rights under or in connection with it.

n. No agency or partnership: Except as otherwise expressly provided for in this Agreement, nothing in this Agreement is intended to, or shall be deemed to, constitute a partnership or joint venture of any kind between any of the parties, nor constitute any party the agent of another party for any purpose. No party shall have authority to act as agent for, or to bind, the other party in any way.

o. Void where prohibited: Although the GoldenCoin Website is accessible worldwide, not all features, products or services discussed, referenced, provided or offered through or on the GoldenCoin Website are available to all persons or in all geographic locations, or appropriate or available for use outside of Switzerland. GoldenCoin reserves the right to limit, in its sole discretion, the provision and quantity of any feature, product or service to any person or geographic area. Any offer for any feature, product or service made on the GoldenCoin Website is void where prohibited. If you choose to access the GoldenCoin Website from outside Switzerland, you do so on your own initiative and you are solely responsible for complying with applicable local laws.

p. Language: The parties to this Agreement agree that this Agreement and any related document be written in English. Notwithstanding any other provision of this Agreement, any translation of this Agreement is provided for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original English.

q. Ownership: GoldenCoin is the merchant for transfers.

 

21. DEFINITIONS

In this Agreement, unless otherwise expressly stated or in the context requires otherwise, the following terms shall have the meanings set out below:

“Agreement” means these terms of service, any account-opening documentation (including an electronic registration form you complete when applying for a GoldenCoin Personal or Business Account) and any other documents, terms and conditions, or policies which are expressly stated by GoldenCoin to form part of the agreement between us and you;

“Balance” means the amount of 1 Oz American Gold Eagle Coins on your GoldenCoin Personal or Business Account;

“Chargeback” means a request that is filed directly with a debit or credit card payments.

“Customer”, “user”, “you” means a person who has registered and has been accepted by us for a GoldenCoin Personal or Business Account on the GoldenCoin Website or GoldenCoin Mobile App including satisfactorily completing the applicable verification requirements in accordance with this Agreement;

“Customer Success Team” is GoldenCoin’s support team for GoldenCoin Personal or Business Accounts which can be accessed online or emailing [email protected] Our Customer Success team will respond to you within 10 working days between the hours of 9am to 5pm EST Monday to Friday, excluding public holidays.

“Days” means working days;

“Disclaimer” means the general disclaimer of liability that appears on the GoldenCoin Website, which disclaimer forms part of this Agreement;

“Force Majeure” means any circumstance, act, or event beyond our reasonable control, including (but not limited to) any: lock outs, strikes or other industrial disputes (in each case, whether or not relating to our workforce and whether or not beyond our reasonable control); changes to applicable laws, acts, or regulations of any governmental or supranational bodies or authorities; breakdown, failure, malfunction, or hacking of telecommunications or computer services or systems (including the internet) including, without limitation, any third party services or systems or acts of hackers; unusual volatility in the market, hacking, Denial of Service (DoS) attack, deliberate market distortion or manipulation, and disruptions to trading or the trading price; act of God, fire, act of government or state, terrorist act, war, civil commotion, insurrection or embargo, earthquake, nuclear incident, floods, volcanic action; inability to communicate with brokers or market makers for whatever reason or late or mistaken delivery or payment by any bank or counterparty; prevention from or hindrance in obtaining any energy or other supplies; and any other reason (whether or not similar in kind to any circumstance, act or event described in (a) to (f) above).

“Gold” means the gold meeting the specifications set out in clause 5 which you can use to utilize the GoldenCoin Services;

“GoldenCoin”, “we”, “us”, or “our” means GCB Suisse AG, a company incorporated pursuant to the laws of Zug, Switzerland and continued under the laws of Switzerland,;

“GoldenCoin Platform” means the GoldenCoin private and public website accessible at www.goldencoin.com amended from time to time (the “Website”), the GoldenCoin Community (Community”) and any associated GoldenCoin-hosted websites or mobile applications (“Mobile App”) (collectively the “GoldenCoin Platform”).

“GoldenCoin Profile” means the location on the GoldenCoin Platform where you can, after logging in, view and manage your profile, including your personal information, payment method details, preapproved payment authorizations, your selling tools, and your Account settings including your notification preferences and permissions.

“GoldenCoin Services” means the GoldenCoin Platform and any of the services provided to you by GoldenCoin, together with the GoldenCoin Platform;

“GoldenCoin Website” means the GoldenCoin private and public website accessible at www.goldencoin.com amended from time to time;

“GoldenCoin Personal or Business Account” means the electronic record of 1 Oz American Eagle Gold Coins that you hold, quantity of 1 Oz American Gold Eagle Coins held by or for you or on your behalf (as the case may be) at the Vault; your transactions with us; the fees levied by us for services provided to you.

“Information” means any confidential and/or personally identifiable information or other information related to GoldenCoin Personal or Business Account or User, including but not limited to the following: name, email address, billing/shipping address, phone number and financial information.

“Password” means the alpha-numeric string of at least eight (8) characters in length with at least one number and one letter that you may use to access your GoldenCoin Personal or Business Account;

“Proof of Shipment” is online documentation from a shipping company that includes the date the item was shipped and the recipient’s address matching the shipping address provided by the Buyer and showing at least the city and province, or city and country or postal code (or international equivalent).

“Proof of Delivery” for intangible or virtual items or services is online documentation satisfactory to GoldenCoin that the item or service was provided to the Buyer, such as evidence that a file has been downloaded as of a particular date. Although GoldenCoin Business Account Protection does not apply to intangible or virtual items or services, having proper Proof of Delivery can help a Seller win a buyer’s claim that an item has not been received.

“Proof of Delivery” for tangible items is online documentation from a shipping company that includes the date the item was delivered, the item’s status as delivered, the recipient’s address matches the shipping address provided by the Buyer, the recipient’s address, showing at least the city and province, or city and country or postal code (or international equivalent), and signature confirmation if the full amount of the transfer, including shipping and taxes, is over US$1,000, or its foreign currency equivalent. Signature Confirmation is online documentation that can be viewed at the shipping company’s website indicating that the item was signed by the recipient acknowledging delivery.

“Privacy Policy” means the privacy policy (as amended from time to time) that is available on the GoldenCoin Website, which policy forms part of this Agreement;

“Restricted Activities” are the activities defined in clause 4 of this Agreement;

“Reversal” means GoldenCoin reverses a transfer of Gold you received because (a) it is invalidated by the sender’s bank, (b) it was sent to you in error by GoldenCoin, its parent, or any direct or indirect GoldenCoin subsidiary, (c) the sender of the transfer did not have authorization to send the transfer (for example: the sender used a credit card that did not belong to the sender), (d) you received the transfer for activities that violated this Agreement, the Acceptable Use Policy, or any other GoldenCoin agreement, or (e) GoldenCoin decided a claim against you.

“Seller” means a User who is selling goods and/or services and using the Services to receive transfer.

“Significantly Not as Described” means an item that is materially different from what the Seller described in the item listing. Here are some examples: You received a completely different item. For example, you purchased a book and received a DVD or an empty box. The condition of the item was misrepresented. For example, the description when you bought the item said “new” and the item was used. The item was advertised as authentic but is not authentic. The item is missing major parts or features which were not disclosed in its description when you bought the item. You purchased three items from a Seller but only received two. The item was damaged during shipment.

An item is not Significantly Not as Described if it is materially similar to the Seller’s item listing description. Here are some examples: The defect in the item is correctly described by the Seller. The item was properly described but you didn’t want it after you received it. The item was properly described but did not meet your expectations. The item has minor scratches and was listed as used condition.

“Vault” means the service provider appointed by us in accordance with clause 8 to store Gold on behalf of our customers.