Terms and Conditions

1. Definitions
   1. 'Buyer' means the party contracting with the Company to buy the Goods under these terms and conditions.
   2. 'Company' means www.iGold.ae as owned and operated by Kuber Jewellery LLC, Office 303, 3rd Floor, Shamma Plaza 3, Al Sitmi Street, Gold Souk Extension, Deira Dubai, UAE.
   3. 'Details' means any sensitive/personal data obtained by the Company in the course of the Transaction.
   4. 'Goods' means precious metal in any form including but not limited to gold bullion, investment coins and silver bullion sold to You by the Company under these terms and conditions.
   5. 'Transaction' means the sale of the Goods under these terms and conditions by the Company to the Buyer.
   6. 'Website' means www.igold.ae.
   7. 'You/Your' means a person using the Website including the Buyer.
   8. 'Spot Rate' means the regularly updated current market prices for Gold, Silver, Platinum and Palladium displayed on the Home Page of this website.
   9. 'Market Rate' means the price set by the 'Dubai Gold & Jewellery Group' (With over 800 members) updated at least four times daily on a working day that the market is trading.
   10. 'London Silver Fix' means the price set by the members of the London Silver Fix (Deutsche Bank, HSBC Midland and ScotiaMocatta) commencing at noon each working day that the market is trading.
   11. 'Investment Gold' means gold of a purity not less than 995 thousandths that is in the form of a bar, or a wafer, of a weight accepted by the bullion markets.
2. Requirements for Use
   1. You must be at least eighteen (18) years old to conduct a Transaction with the Company.
   2. You must be resident in the U.A.E and we will ask you to provide documentary evidence of Your address in the U.A.E. and personal identification as requested
   3. You must provide us with all of the Details necessary to complete the two-stage initial registration process and any subsequent Transaction.
   4. You must ensure that the personal Details provided are complete and correct.
   5. If any changes of Your personal Details take place during the two-stage initial registration process and any subsequent Transaction, the Company shall be immediately informed.
   6. You must accept and comply with these terms and conditions.
3. Prices and Payment
   1. The prices of the Goods displayed on the Website in the relevant sections shall be deemed as invitations to treat. The 'live' pricing is provided by a third party feed and the Company does not accept any responsibility for unavailability or accuracy of the prices. Should there be an error, that includes but is not limited to obvious misquote, We will inform You as soon as possible and give You the option to either cancel the Order or amend it to reflect the correct prices. Please note that the Precious Metals market involves special risks which may affect the value of an Order placed, by virtue of fluctuations in financial markets. Please note that such changes are outside of the control of iGold.ae and the Website Owner and, in extreme situations and without prior warning, may affect the provision of this Service. In such cases, We shall have the right to cancel your Order.
   2. The Payment may be made in person at our offices by cash. Customers wishing to use this facility must provide original documentation in the form of acceptable photographic ID plus acceptable proof of address, at the time of the cash payment. In addition, for payments above AED 50,000 or where the payment brings the total value of purchases in a one month period above AED 50,000 customers must produce an original bank statement or other acceptable original documentation, identifying the origin and source of the cash used to make the payment. All such payments are strictly by prior appointment only.
   3. The Payment may be made by Bank Transfer to Our bank account but must be made within four working hours of placement of the order. All Bank Transfer payments must include the Order ID generated by Our system at Checkout to enable Our system to match received payments with orders. Our Bank Details are supplied during the checkout process and also in the Order Confirmation email that Our system will send to You. You may be requested to forward a scanned copy of Your bank transfer payment record to Us to confirm your bank transfer. We reserve the right, at our absolute discretion, to cancel an order for which we have not received cleared payment by the specified payment deadline.
   
   WE DO NOT ACCEPT CASH PAYMENTS INTO OUR BANK ACCOUNT due to our Anti Money Laundering Protocols, the high charges from Our Bank to process such deposits and Our inability to match cash deposits to orders due to the absence of a reference number facility for cash deposits. PLEASE DO NOT DEPOSIT CASH PAYMENTS INTO OUR BANK ACCOUNT UNDER ANY CIRCUMSTANCES.
   4. Cash deposits to Our Bank Account will not be refunded until the ownership and origin of the cash deposit can be proved to Us to Our absolute satisfaction. The level of such proof shall be at Our absolute discretion and will involve the provision to Us of such original documents and signed statements and/or declarations as We see fit. In addition, cash deposits to Our Bank Account may be notified to the Appropriate AML Authorities for approval of any refund. The combined result of such actions may delay repayment of such cash deposits by a period of up to 30 days.
   5. Any repayment of cash deposits received to Our Bank Account will be adjusted to reflect the charges imposed on Us by Our Bank and will also be subject to a charge of AED 500 to compensate Us for the cost of utilising staff time and resources in settling the matter.
   6. If the Transaction is for more than AED 50,000 worth of precious metal, then we may require an immediate non-refundable deposit of 20% payable by direct transfer to our bank account at the time of ordering.
   7. We reserve the right at Our absolute discretion to hold any and all payments made to Us by any means, and to withhold shipment of the related order(s), until You provide Us with all of the information and/or original documentation of whatever description and nature that We may require, to Our absolute satisfaction, in order to comply with Our ‘Know Your Customer’ Protocol, Anti Money Laundering Legislation requirements and/or any other applicable law or internal company procedure.
4. Order Placement
   1. An order can only be placed via the Website.
   2. The Details obtained by the Company are limited to the maximum extent and are for the mutual benefit of a secure Transaction. Any Details obtained in the course of the Transaction are protected and will not be disclosed to any unauthorised third party.
   3. As stated in paragraph 3.1 of these terms and conditions, the Goods displayed on the Website are invitations to treat. Consequently, it is the customer whose offer is subject to the Company's verification.
   4. After the money has been received by the Company an e-mail accepting the Buyer's offer will be sent.
   5. All Goods are subject to availability. We will endeavour to deliver the specified Goods on the date agreed. However, if due to circumstances beyond our control, the specified Goods are not available we reserve the right to substitute multiple smaller products. In the unlikely event of this occurrence You will be contacted for Your approval prior to dispatch of the order.
5. Order Cancellation and Refund Policy
   1. Orders can be cancelled by telephone (055 889 4600) or by e-mailing us at [email protected] within 1 business hours of the Customer's offer to buy (see 4.3 and 4.4 above), subject to payment of the AED 150 cancellation fee and any compensation due to the Company as a result of adverse precious metal price fluctuations.
   2. Our Market Loss Policy is essential to protect Us from any adverse movement of Precious Metals markets when dealing with cancelled orders. Cancelled orders will be subject to a Market Loss Charge equivalent to any loss to Us resulting from movement in the spot price value of the Order between the Submission of the Order and the Cancellation of the Order. Any market gain on cancellations shall remain the property of www.iGold.ae. We will deduct the total sum payable to Us under this Market Loss Policy from any part or full payments that You have made to Us in respect of subsequently cancelled orders. Any refunds of payments, following the deduction of payments due to Us under this Market Loss Policy, will be made to the source of the original payment. Payments made to Us by Bank Transfer will be refunded to the originating bank account.
   3. NO cancellations of orders will be accepted and NO refunds will be offered after a period of 1 business hour has elapsed from the Company's acceptance of a customer's offer to buy (see 4.c and 4.d above).
   4. Purchases from and transactions with the Company, whether by means of this website or otherwise, are exempt from the Right to Cancel under Distance Selling Regulations as the prices of the products to which those purchases or transactions relate are dependent on constant fluctuations in the world financial markets which are beyond our control.
6. Delivery
   1. The delivery will be made to:
      a) For purchases by UAE Residents the delivery by FEDEX to the address specified by the Buyer in the Details provided during the Transaction is our preferred option. The delivery fee will be added and clearly appear in the checkout section at the end of the Transaction on the Website.
      b) For cash purchases by UAE Residents and all purchases by non UAE Residents: the only option available is pre-arranged collection in person from our offices, see section 7 below.
   2. Where delivery is the selected option, FEDEX will contact the Buyer to confirm delivery details before attempting delivery.
   3. FEDEX will require proof of ID from the Buyer at the time of delivery.
   4. A re-delivery fee may be payable by the Buyer if FEDEX are unable to perform a delivery due to actions of the Buyer eg Buyer not present at the delivery address at the specified time or Buyer unable to provide suitable ID confirmation.
   5. Ownership of the Goods shall pass to the Buyer once the delivery process has been completed (the Goods have been delivered either by signed for delivery or collection with signature) providing the value agreed for the goods has been received by the Company within the time limits stated in paragraph 3.3.
   6. The Company cannot be responsible for any delays caused by any third party and factors beyond the Company's reasonable control (adverse weather, traffic delays or mechanical failures)
7. Collection
   1. Collection of Your Goods from our offices is an option for UAE Residents paying by Bank Transfer.
   Collection of Orders from our offices is compulsory for UAE Residents and non UAE Residents wishing to pay by cash.
   2. Collection of Your Goods from our offices is compulsory for non UAE Residents paying by Bank Transfer.
   Collection is by appointment only which can be arranged by calling us on 055 889 4600.
   3. Collection will only be permitted by the Buyer in person and the Buyer will be required to produce the original documents that were used to verify the Buyer’s account. When attending our offices to make a collection the Buyer will allow the Company to make and retain copies of the required documents before the Buyer takes possession of the Goods.
8. Buy Back
   1. LBMA Gold products previously purchased from iGold - 98% of the next London Gold Fix price following receipt of the product by iGold.
      LBMA Silver products previously purchased from iGold - 94% of the next London Silver Fix price following receipt of the product by iGold.
      Gold Investment Coins previously purchased from iGold - 98% of current Spot Price at the time that iGold agrees to purchase this product.
      Silver Investment Coins previously purchased from iGold - 94% of current Spot Price at the time that iGold agrees to purchase this product.
      LBMA Platinum products - 95% of the next London Platinum Fix price following receipt of the product by iGold.
      LBMA Palladium products - 95% of the next London Palladium Fix price following receipt of the product by iGold.
      Other LBMA Gold products - 97% of the next London Gold Fix price following receipt of the product by iGold.
      Other LBMA Silver products - 93% of the next London Silver Fix price following receipt of the product by iGold.
      Other Gold Investment Coins - 97% of current Spot Price at the time that iGold agrees to purchase this product.
      Other Silver Investment Coins - 93% of current Spot Price at the time that iGold agrees to purchase this product.
      Non-LBMA products - Call us for our best rates.
   We will transfer the proceeds of your sale by means of whichever of the following two methods you choose:
   
   2. DIRECT BANK TRANSFER for transactions below AED10,000. This service is charged at AED20 to clients holding compatible bank accounts and is our preferred payment method.
   3. CHAPS/TELEGRAPHIC TRANSFERS for transactions in excess of AED10,000. This service is charged at AED100 per transaction to cover our bank charges when using this method of payment, the fee being deducted from the valuation figure.
   4. CASH PAYMENTS at our offices, to a maximum of AED 50,000 may be requested with 24hrs notice subject to a Cash Handling Fee of 1% to cover our bank charges when using this method of payment. Acceptable ID documentation to confirm personal identity and address must be produced by the client before release of a cash payment.
9. Limitation of Liability
   1. Nothing in these terms and conditions excludes or limits the liability of the Company for death, personal injury or fraud caused by the Company's negligence or fraudulent misrepresentation.
   2. In the absence of negligence on the part of the Company, the Company shall not be responsible for the Buyer's unauthorised use of any of the Goods.
   3. The Company's total liability in contract, tort (including negligence or breach of any statutory duty), misrepresentation, restitution or otherwise arising in connection with the performance or contemplated performance of the Transaction shall be limited to the Transaction price and the Company shall not be liable to the Buyer for loss of profit, loss of business, depletion of goodwill, or any consequential claims whether direct or indirect which arise out of or in connection with the Transaction.
   4. Whilst the Company endeavours to the best of its ability to provide the Goods in accordance with the description with reasonable skill and care and within the time agreed, the Company makes no further warranties or representations as to the provision of the Goods.
   5. Whilst the Website is professionally maintained the Company cannot assume any liability for:
      1. incompatibilities of the Website with other websites, services, software and/or hardware.
      2. viruses, spywares or any other insecure and disabling features, beyond the Company's control , that may affect Your access or use of the Website.
      3. modification, temporary unavailability or discontinuance of the Website.
   6. No party to these terms and conditions shall be liable for any losses suffered by another as a result of unforeseeable consequence of the breach of those terms and conditions. Any loss which could have reasonably been contemplated by both of the parties at the time of the Transaction shall be regarded as foreseeable.
10. Intellectual Property
    1. No licence to use any trade mark of the Company is granted to You under these terms and conditions.
    2. The content of the Website is protected by intellectual property law. You may retrieve and display the content of the Website on a computer screen , store it in an electronic form on a hard drive or print a copy of the content for Your own private and non-commercial use under the condition that all and any copyright and proprietary notices are clearly visible.
    3. You are strictly prohibited to copy, distribute, modify or reproduce any part of the Website save for the exception stated in paragraph 9.2.
11. Indemnification
    1. You agree to indemnify, defend and hold the Company and the Company's affiliated companies, shareholders, officers, directors, employees, agents or suppliers harmless from any and all claims or demands, made by any third party due to or arising out of Your use of the services, the violation of these terms and conditions by You, or the infringement by You of any intellectual property or other right of any other person or entity.
12. Data Protection
    1. The Customer's personal information and payment details will be protected in accordance with the Data Protection Act 1998.
    2. The Customer may request a copy of any information held by iGold and iGold may charge the Customer an administration fee of AED 150 for providing such information. The information must be requested in writing to the address stated in these terms and signed by the Customer. The Customer may request iGold to correct any inaccuracies in the information held about the Customer. Such a request must be in writing, signed and sent to the address stated in these terms.
    3. iGold will maintain records of the sale and purchase of the Precious Metal Products for a minimum period of 6 years from the date of the Transaction.
13. Telephone Calls
    1. Telephone calls between You and the Company may be recorded. In the event of any dispute arising from such calls the recordings will be treated as definitive evidence of the instructions or communications passed between parties.
14. Miscellaneous
    1. Any dispute and all aspects of it arising as to the Transaction between the Buyer and the Company shall be governed by UAE law and shall be subject to the exclusive jurisdiction of the UAE courts.
    2. If any provision of these terms and conditions is found by a court, or any body of competent jurisdiction, to be wholly or partly invalid or unenforceable this shall not affect the validity of the remainder of it.
    3. No person being not a party to these terms and conditions shall acquire any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of these terms and conditions. This paragraph does not affect any other rights which a party might be entitled to pursuant to that Act.
    4. iGold are not investment advisors, nor do we provide investment advice. We will not be liable for any adverse consequences of Your reliance on any views expressed or statements contained within this website. The values of Gold, Silver, Platinum and Palladium investment bullion fluctuate subject to market forces, including changes in world currency exchange rates. Therefore, the value of Your investment can go up as well as down and You may not be able to realise the full amount of Your initial investment. The historic performance of precious metal prices does not necessarily mean that future prices will follow a similar pattern. iGold recommends that You seek advice from an independent financial advisor when considering a substantial investment in Gold, Silver, Platinum and Palladium bullion.