- 1. Information about us
- 2. Metal Accounts
- 3. Orders
- 4. Pricing
- 5. Payment
- 6. Transfers
- 7. Quality
- 8. Delivery and Collection
- 9. Closing Your Metal Account
- 10. Cancellations and Refunds
- 11. Late payment, late supply of information and administration fees
- 12. Our Liability to You
- 13. Events Outside of Our Control
- 14. Complaints
- 15. Notices
- 16. Other important terms
Terms and Conditions relating to Metal Account Purchases
This page sets out the legal terms and conditions (the Terms) which apply when you open a metal account with us (a Metal Account) and purchase digital gold and silver.
A Metal Account allows you to purchase troy ounces of gold and silver (Digital Bullion) from us at the live market rate and to hold such Digital Bullion until such time as you wish to trade your Digital Bullion for a physical product. The price of Digital Bullion is dependent on fluctuations in the financial market and is outside of our control (the Spot Price). We cannot advise you on whether the purchase of Digital Bullion is a suitable investment for you. We recommend that you seek independent financial advice if you have any concerns.
The purchase of Digital Bullion is not the same as the purchase of physical bullion where you own physical products which are delivered to you or set aside for you in our warehouse. If you are looking to purchase physical bullion, please refer to our Terms of Sale. If you are looking to sell physical bullion or other products to us, please refer to our Terms of Purchase.
With Digital Bullion, you do not own a physical product. Instead, you are entitled to an amount of gold or silver bullion equal to the troy ounces standing to your credit in your Metal Account. You will not have ownership of specific items in our warehouse and we will not set any items aside for you, unless and until you convert your Digital Bullion into physical products and pay for associated storage fees or delivery charges.
You can choose to purchase allocated or unallocated Digital Bullion. The key differences between allocated and unallocated Digital Bullion is that with allocated Digital Bullion: (i) we ensure that we either already hold sufficient stocks of physical gold or silver bullion to cover your purchase or we immediately purchase such quantity of gold or silver bullion as is required to cover your purchase (and such stocks will generally be delivered to us within a few days); (ii) you will need to enter into a service agreement with us for the provision of storage for the physical gold or silver bullion which is backing your purchase and pay the storage costs; and (iii) you can choose whether we store the bullion backing your purchase in the UK or overseas (subject to our agreement) and the storage costs may vary depending on the storage location. Please refer to our Terms of Storage [insert link] for further details. Please note you will not own the physical bullion we purchase to back your allocated Digital Bullion.
These Terms will apply if you open a Metal Account with us and order Digital Bullion from us (an Order). Please read these Terms carefully (in particular clauses 9, 11 and 12) and make sure that you understand them before opening a Metal Account and ordering any Digital Bullion from us. These Terms apply to any contract between us for the sale of Digital Bullion (a Contract). By opening a Metal Account and placing any Orders, you agree to be bound by these Terms and the other documents expressly referred to in them.
These Terms and any Contract between us and you are only in the English language. Please note we may not necessarily keep a copy of your Contract and we may amend these Terms from time to time. Each time you place an Order, the Terms in force at that time will apply. Each time you wish to place an Order, please check these Terms to ensure you understand the terms which will apply to you and ensure that you keep a hard copy of such terms for your future reference.
1. Information about us
We are Chard (1964) Limited, a company registered in England and Wales under company number 1378220 and with our registered office at 32-36 Harrowside, Blackpool, FY4 1LY. In these Terms, we refer to ourselves as "Chards", “we”, “us” and “our”. Our VAT number is GB 157 0712 74. We have been trading as a coin and bullion dealer since 1964 and operate the website www.chards.co.uk (the Website). To contact us, please telephone +44 (0)1253 343081, or send us an email to [email protected] or write to us at the address above. You can also contact us via our Website here.
2. Metal Accounts
2.1 To open a Metal Account with us, you need to register for an online account and provide us with certain personal information. You can do this on our Website, via the telephone or in person in our showroom during opening hours. The information we may require includes your full name and address, company name (if applicable), proof of address, email address, telephone number, and date of birth. Further details are set out on our Website here. We are required to obtain this information to process Orders and administer your Metal Account, to comply with our legal obligations (including those relating to anti-money laundering), to protect against fraud and to reduce our credit risk. We may also use this information to contact you concerning your Metal Account and Orders from time to time.
2.3 Please be aware that it is imperative that we have up-to-date contact details for you at all times and it is your responsibility to keep us updated of any changes by email or telephone or post or via your online account on our Website. Ultimately, if we are unable to contact you, your ownership of Digital Bullion and any proceeds of sale may transfer to us in accordance with clause 9.5. We shall make reasonable attempts to contact you using the contact details we hold for you prior to this happening.
2.4 You can register for an online account here. Your Metal Account will display the amount of Digital Bullion you have in your Metal Account. We also have access to this information.
2.5 We reserve the right to require proof of identification at any time for any reason, including, without limitation, to conduct mandatory anti-money laundering checks (which may include a requirement to provide your passport, driving licence, utility bills or bank statements (no more than three months old) and other official documents – please see here for further information about acceptable proof of identification). We will contact you if we require you to provide any additional information or proof of identification.
2.6 We reserve the right to reject an application for a Metal Account if you do not provide us with the necessary personal information or if you do not pass our security checks. We also reserve the right to set a limit on the maximum value of Digital Bullion you may hold in your Metal Account at any one time.
2.7 You may only open a Metal Account with us and place Orders if you are at least 18 years old and provided you pass our due diligence checks. If you are acting on behalf of a business, you hereby confirm that you have authority to bind any business on whose behalf you open a Metal Account and purchase Digital Bullion.
2.8 You must keep all login details relating to your Metal Account secure and you must not share your password with any third party. We recommend you choose a unique password that you do not use for any other online accounts. We shall be entitled to disable access to your Metal Account at any time if we consider the security to your Metal Account has been compromised.
3.1 Once your application for an online account has been approved, you will need to place an Order for Digital Bullion to be added to your Metal Account. You may place Orders online through our Website, by calling us on 01253 343081 or in person in our showroom in Blackpool during opening hours.
3.2 We accept payment in pounds sterling, US dollars and euros. All prices shall be set using the live market rate as shown on our Website at the time you place your Order (Spot Price), plus a premium calculated as a percentage of the Spot Price (eg 1%) (Premium) which will also be communicated to you when placing your Order. The Spot Price plus the Premium is the amount you must pay when you place your Order (Total Price).
3.3 Orders can be placed for a specific quantity of troy ounces of Digital Bullion. Gold troy ounces are measured down to 4 decimal places (i.e. 0.0001 tr oz) and to the nearest 1oz for silver.
3.4 You may also place an Order for a specific monetary value of Digital Bullion, down to 2 decimal places (e.g. £0.01). The minimum order value is £10, US$10 or EUR€10.
3.5 Please note that irrespective of whether you provided us with documents to verify your identity when you opened your Metal Account, further information may be required each time you place an Order. We reserve the right to refuse any Order you seek to place with us if you fail to provide such information or to pass our due diligence checks. To secure the Spot Price, such information requested must be received by us within 24 hours of placing your Order. If we do not receive such information within this timeframe or you do not pass our verification checks, we may reject your Order and/or charge you an Administration Fee.
3.6 If you place an Order, you are making us an offer to purchase allocated or unallocated Digital Bullion (as applicable) for the Total Price. All Orders placed are subject to these Terms and by placing an Order, you agree to:
- comply with these Terms;
- pay the Total Price and if at any time you require delivery or collection of physical bullion, also pay the Delivery Premium and any applicable Delivery Costs (or otherwise convert your Digital Bullion into a physical product);
- pay all bank charges arising from any payment you make to us in a foreign currency;
- pay any Administration Fee that may become due; and
- comply with our Storage Terms if you place an Order for allocated Digital Bullion, (available here) and pay all applicable storage charges.
3.7 All Orders are subject to acceptance by us. Your Order shall not be accepted until we have emailed you to confirm we have accepted your Order or when we confirm this to you over the telephone or when you sign a Contract in person at our showroom. At the point of acceptance, a Contract shall be formed between you and us. If you have not received confirmation that your Order has been accepted within two working days of the date you placed your Order, please contact us. We may also send you an acknowledgment email, but this does not mean your Order has been accepted.
3.8 When ordering over the telephone, we will read certain parts of these Terms to you and will inform you where you may find a full copy of these Terms. We will also make a copy of these Terms available to you during the online checkout process or if you place an Order at our showroom in person. You will be required to accept these Terms before placing any Order with us. If you do not accept these Terms, you will not be able to order any Digital Bullion from us or otherwise make changes to your Metal Account.
3.9 Once your Order has been accepted and payment has been received in full, the amount of Digital Bullion you have purchased shall be credited to your Metal Account and held by us on your behalf.
3.10 You can choose to purchase Digital Bullion on an allocated or unallocated basis. In each case, this means that you are entitled to an amount of Digital Bullion equal to the troy ounces standing to your credit in your Metal Account in accordance with these Terms. However, please note that for both allocated and unallocated Digital Bullion you will not have ownership of specific items in our warehouse and we will not set any items aside for you (unless and until you elect for delivery of your Digital Bullion or convert your Digital Bullion into physical products and pay for associated storage fees). The key differences between allocated and unallocated Digital Bullion is that with allocated Digital Bullion:
- we ensure that we either already hold sufficient stocks of physical gold or silver bullion to cover your purchase or we immediately purchase such quantity of gold or silver bullion as is required to cover your purchase (and such stocks will generally be delivered to us within a few days);
- you will need to enter into a service agreement with us for the provision of storage for the physical gold or silver bullion which is backing your purchase and pay the storage costs; and
- you can choose whether we store the bullion backing your purchase in the UK or overseas (subject to our agreement) and the storage costs may vary depending on the storage location. Please refer to our Terms of Storage for further details. Please note you will not own the physical bullion we purchase to back your allocated Digital Bullion.
3.11 In the unlikely event that we enter into administration or insolvency, you would be regarded as an unsecured creditor and your claim to allocated or unallocated Digital Bullion would rank behind claims made by secured and other preferential creditors, although a pot of bullion would be ringfenced for the owners of allocated Digital Bullion and any other preferential creditors. We advise you to take financial advice before entering into a purchase of this nature. If you are not comfortable with purchasing Digital Bullion in this manner, we suggest you consider purchasing physical products from us pursuant to our Terms of Sale and use our storage services (for a fee) until such time as you want to divest of those products.
3.12 You can find out how much Digital Bullion is standing to your credit in your Metal Account at any time by logging into your online account on our Website. You must immediately notify us if you become aware of any error on your Metal Account so that we may investigate this and resolve any issues promptly.
4.1 The Spot Price of Digital Bullion is dependent on market fluctuations which are outside of our control. The Total Price we charge you is for the metal, not a specific coin, bar or other physical form and does not include delivery which will be charged in addition if delivery is required. Storage fees for allocated Digital Bullion shall be payable in addition to the Total Price in accordance with our Storage Terms. Total Prices are inclusive of any applicable VAT due in the UK.
4.2 The applicable Spot Price shall be set according to the live market price if your Order is placed between 9am and 4pm on a weekday when the banks in London are open for business (a working day). If you wish to place an online Order over a value of £30,000 outside of office hours, we may ask you to call us between 9am and 4pm on a working day. This may be because we require further identification from you (please see clause 2.1 above) or because we need to buy additional bullion to back your Order.
4.3 If you are unable to pay immediately in full in cleared funds, we may require a non-refundable deposit from you to secure your Order. Your deposit shall be non-refundable in accordance with clauses 5.7 and 11.1.
4.4 If there is a technical or administrative error which means we quote the incorrect Total Price to you when you place your Order, we will contact you as soon as possible to inform you of this error. If the Total Price is higher than you were quoted, we shall give you the option of continuing with your Order at the correct higher Total Price or cancelling your Order. We shall not take any further steps to process your Order until we have your instructions. If we are unable to contact you using the contact details you have provided to us within 24 hours, we shall treat your Order as cancelled. If you have paid any part of the Total Price, but we are unable to contact you to take your further instructions, we will refund such sums to you as soon as reasonably possible.
4.5 If we accept an Order where there is a pricing error that is obvious and unmistakable and which could reasonably have been recognised by you as mispricing, we may cancel your Order and end the Contract with you, refund to you any sums you have paid to us and deduct any Digital Bullion from your Metal Account that have been made at the incorrect Total Price.
5.1 Please refer to our payment and identification information page on our Website here for details on our accepted methods of payment. Alternatively, you can contact us by telephone to discuss how to pay
5.2 Internet access is required for debit card payments unless payment is made in the showroom. Please note that debit cards issued outside of the UK may not be accepted and we will contact you if your payment by debit card is rejected. Some payment methods and all international payments carry additional charges as detailed on our Website.
5.3 If you choose to pay in a foreign currency or from a bank account which is not a pounds sterling account, you shall be responsible for paying all charges and fees incurred by you and/or us as a result of your payment in a foreign currency or from such account.
5.4 If you place an Order through our Website, you must select the appropriate box during the online Order process to indicate your chosen method of payment. If you place an Order over the telephone, you must notify us of your chosen method of payment when placing your Order.
5.5 The time period in which you are required to make payment will depend upon how you place your Order and your preferred method of payment, as follows:
- Payments by cash, cheque, bank draft or postal order must be sent on the day of ordering by pre-paid first class post or other next working day delivery service.
- Payments by bank transfer must be sent on the day of ordering;
- If you place an Order through our Website and elect to pay by debit card, payment must be made at the time of your Order;
- If you place an Order over the telephone and elect to pay by debit card, we will send you an email containing a link to our online payment gateway and you must make payment on that same day. Please contact us if you do not receive this email within two hours of placing your Order.
5.6 Any payments not received by us within 24 hours of your Order being placed may be cancelled and you may be charged an Administration Fee in accordance with clause 11 below. We will allow up to three working days to receive international payments before cancelling your Order.
5.7 If requested by us, you may be required to pay a non-refundable deposit to secure your Order at the applicable Spot Price, pending receipt of full payment from you in accordance with clause 5.5 (Deposit).
5.8 You may use pre-payments to purchase digitial bullion or sell digital bullion. Please see the terms of sale (section 5) and terms of purchase (section 6) respectively.
6.1 In respect of any Digital Bullion held in your Metal Account, you can at any time:
- use that Digital Bullion towards payment (in full or in part) of a product you wish to purchase from us pursuant to our Terms of Sale (a New Product). The value of your Digital Bullion will be determined by reference to the Spot Price of that precious metal at the time you wish to purchase the New Product. Such purchase of a New Product shall be subject to our usual ordering procedures and our Terms of Sale. If you wish to do this, there will be an option to use your Metal Account as payment during the checkout process on our Website, or you can contact us by telephone or visit us in person at our showroom during opening hours;
- convert your Digital Bullion into physical products for allocated and segregated storage (Vaulted Bullion), subject to payment of a premium calculated as a percentage of the current Spot Price for the Digital Bullion at the time you decide to convert. Such premium shall be payable in full before we will convert your Digital Bullion into physical products. Storage of physical products are subject to a monthly storage fee, which shall immediately start to accrue once we convert your Digital Bullion. Such storage services are provided in accordance with our Storage Terms. If you wish to do this, please contact us by telephone, order products online for vaulted storage on our Website or visit us at our showroom during opening hours;
- request delivery or collection of your Digital Bullion in accordance with clause 8; and/or
- sell your Digital Bullion to us in return for 100% of the current Spot Price in accordance with and subject to our Terms of Purchase.
The most cost effective way to divest of your Digital Bullion is to convert it into a New Product in accordance with clause 6.1(a) or to sell the Digital Bullion back to us pursuant to clause 6.1(d).
6.2 In order to secure a transfer, purchase or sale at the price you have seen advertised, you must fully comply with our ordering processes as detailed in our relevant terms and conditions and explained on our Website. If you have any queries, please contact us by email or telephone.
6.3 We may conduct further due diligence checks and request additional personal information from you prior to processing any transfer, purchase, sale, conversion, delivery or collection. We will be unable to process your request until we are satisfied that you have provided us with the required information and passed these checks. Please refer to our Website for further information.
6.4 We are only able to issue physical bullion (for delivery, collection or to transfer into an allocated and segregated storage account) to the nearest troy ounce. Any residual amount shall be paid to you in cash or to the bank account nominated by you at the current Spot Price on the day of transfer.
6.5 The minimum residual amount of Digital Bullion you may retain in your Metal Account shall be 0.001oz of gold or silver.
Any images we show on our Website of gold or silver bullion or other products and their packaging and in any of our other advertising materials (such as brochures and printed advertisements) are for illustrative purposes only. Any physical bullion actually supplied to you may look different to these examples. We warrant that any physical bullion actually supplied in accordance with these Terms shall comply with the technical specification for the relevant precious metal (gold or silver) ordered by you as set out on our Website. If you call for delivery of your Digital Bullion, we reserve the right to select which physical items to supply to you (including, without limitation, bars, coins or grains).
8. Delivery and Collection
8.1 If you wish to convert your Digital Bullion into a physical product for delivery or collection you can either:
a. specify the product(s) you would like to convert to - please refer to clause 6.1(a) - and buy those products at the live premium on the website or as quoted via telephone; or
b. request that Chard select products for delivery or collection on your behalf (Physical Bullion) - see the remainder of this clause 8.
8.2 If you wish to take delivery of Physical Bullion, you can elect for delivery to take place into storage in the UK or overseas (such storage shall be subject to additional fees in accordance with our Storage Terms and shall be subject to our agreement to such storage location) or for delivery to an address in the UK or overseas or collection in person from our showroom in Blackpool. Please note VAT will be charged on any deliveries or collections of silver, platinum and palladium in the UK. If you wish to import these metals from overseas to the UK yourself, you will be expected to pay local VAT (if applicable), declare the goods and pay any applicable custom duties at the border (for export and import).
8.3 You can request physical delivery of your Digital Bullion (or any part of it) at any time, provided you give us at least 30 days’ notice by email, post or by telephone and provided we have received payment from you in full (including the Delivery Premium payable in accordance with clause 8.4 below and Delivery Costs set out in clause 8.9 (if applicable)).
8.4 We charge a delivery premium (Delivery Premium) if you wish to convert your Digital Bullion into Physical Bullion for delivery or collection. The Delivery Premium shall be calculated as a percentage of the then-current Spot Price of the Digital Bullion being delivered or collected (the Value).
a) Gold - delivery premium is a minimum of 5% of the Value
b) Silver - delivery premium is a minimum of 30% of the Value
It is more cost effective to transfer your Digital Bullion into bullion New Product as set out in clause 6.1(a) above.
8.5 In accordance with clause 6 above, we reserve the right to select which physical items to supply to you in relation to your request for delivery of Physical Bullion. We are not able to guarantee that you will be issued with your preferred form (for example, specific designs, coins or bars) of the relevant precious metal.
8.6 Subject to clause 8.1 above, you may either collect your Physical Bullion from our showroom in Blackpool during our opening hours at a mutually agreed time or request us to deliver your Physical Bullion to you or put the Physical Bullion into allocated and segregated storage (subject to payment of appropriate fees).
8.7 We shall ask you to provide two forms of identification prior to releasing any Physical Bullion to you (further detail is set out on our Website here) and we may also conduct other due diligence checks to ensure you are the owner of the Metal Account (such as by only allowing delivery to the registered address of your payment card).
8.8 Delivery of your Physical Bullion shall be complete once it has been confirmed by Royal Mail or our courier company that the Physical Bullion has been delivered to billing address (or such other address we have agreed to deliver to) or when we confirm it has been put into storage by us on your behalf or (if you are collecting the Physical Bullion from us) when you take physical possession of the Physical Bullion at our showroom. Where we are storing the Physical Bullion for you, the Physical Bullion will be your responsibility from the time of collection and we strongly recommend you have adequate insurance arrangements in place.
8.9 If you request us to deliver your Physical Bullion to you (rather than you collecting it from us) or to put it into international storage or to move your allocated Digital Bullion to a different storage location, you must also pay our delivery costs (Delivery Costs). The Delivery Costs shall include our actual cost of delivery, packaging and insurance and shall be calculated by reference to the Value. Unless we advise you otherwise, the parcel shall be insured up to the Value during transit. Please refer to our Website here for further details on deliveries and our standard Delivery Costs. If the Delivery Costs to your required location are not published on our Website, please contact us for a bespoke quote.
8.10 You will need to confirm you are available to accept delivery on the nominated day before we will despatch your Physical Bullion to you. You may be required to sign for the your Physical Bullion upon delivery and if you are not available, this may result in your Physical Bullion being returned to a local sorting office or warehouse awaiting your collection or being returned to us. If your Physical Bullion is returned to us in these circumstances, you will be recharged the Delivery Costs which we will need to receive from you in full before we can attempt re-delivery.
8.11 If you would like your Physical Bullion to be delivered to a destination outside of the United Kingdom, please note that local laws restrict us from shipping to some destinations and certain countries do not allow money to be sent through their postal networks (see here for further information). Please refer to the delivery page on our Website for the destinations we are able to ship to (International Delivery Destinations). We recommend you check this page before placing an Order with us. Please be aware that your request for delivery may be subject to VAT, import duties and taxes in the country of destination. You will be responsible for payment of any such duties and taxes and for complying with applicable laws and regulations. Please note that we have no control over these charges and we cannot predict their amount. Deliveries may also be subject to seizure by the relevant customs or other authorities if there are any restrictions on the import of Physical Bullion into that territory. We do not make any representations or guarantees in respect of whether you will be permitted to import Physical Bullion into any territory. You are responsible for determining whether any restrictions on import are in place and applicable. You must comply with all applicable laws and regulations of the country for which the Physical Bullion is destined. We cannot accept liability for loss or damage to any Physical Bullion which is confiscated, seized or otherwise subject to local law restrictions in the country of destination or for non-compliance with applicable laws on importation. We recommend you seek local advice in the country of destination prior to asking us to deliver your Physical Bullion.
9. Closing Your Metal Account
9.1 You shall be entitled to close your Metal Account at any time by providing us with written notice, provided your Metal Account balance is nil. Please refer to clause 6 for details of how to transfer Digital Bullion out of your Metal Account.
9.2 We may cancel your right to hold a Metal Account and close it at any time without liability by providing you with at least 14 days’ written notice by post or email or via your online account. During this period, you will have the option to transfer your Digital Bullion out of your Metal Account in accordance with clause 6.
9.3 We may cancel your right to hold a Metal Account and close it immediately upon written notice to you (by post or email or via your online account) and without liability to you if:
- you do not make any payment to us pursuant to these Terms when it is due and you still do not make payment within two working days of us notifying you that payment is due;
- you do not, within 24 hours, provide us with information that is necessary for us to provide you with a Metal Account and store and transfer Digital Bullion on your behalf;
- you commit any other material breach of these Terms;
- we consider that any personal identification documentation or other information you have provided to us is, or is likely to be, false; or
- we are required to do so under applicable law or by any regulatory body or government authority.
9.4 Upon closure of your Metal Account, if any amount of Digital Bullion remains, we shall be entitled, at our option, to:
- deliver your Digital Bullion to you in accordance with clause 8, less an amount for the applicable Delivery Premium and Delivery Costs; or
- purchase your Digital Bullion from you in accordance with clause 6.1(d). Any sum we owe to you shall be settled using the most recent payment method used by you, if we cannot agree with you otherwise.
9.5 If we continue to hold Digital Bullion or the proceeds of sale of your Digital Bullion on your behalf for at least three months following the closure of your Metal Account and you have failed to arrange take possession of that Digital Bullion or to arrange payment to you in accordance with these Terms, we shall be entitled to serve you with one month’s written notice (by email or post or via your online account). Title to such Digital Bullion and/or proceeds of sale shall immediately transfer to us at the end of such one month period if they remain in our possession, although we are legally obliged to return any excess proceeds of sale to you if you make a valid claim for the same within a reasonable period (less the administrative costs we have incurred as outlined in these Terms).
10. Cancellations and Refunds
We cannot accept cancellations on any Orders for Digital Bullion. You do not have any statutory rights to cancel any Order for Digital Bullion if you change your mind, whether under the Consumer Contracts Regulations 2013, the Financial Services Regulations 2004 or otherwise.
11. Late payment, late supply of information and administration fees
11.1 If payment is not made by you or received by us in accordance with the applicable deadlines set out in clauses 5.5 and 5.6, or if the personal information required under clauses 2.1 and 3.5 is not provided by the relevant deadline:
- we may charge you an administration fee of 1% of the Total Price of your Order (subject to a minimum fee of £10 and a maximum fee of £500) (Administration Fee) to cover our administrative costs incurred as a result of you breaking the Contract by failing to make payment or provide your personal information by the relevant deadline. Any Administration Fee shall be payable within seven days of you being notified that an Administration Fee has been charged. The Administration Fee shall be payable regardless as to whether or not we have accepted your Order;
- we may, in our sole discretion, cancel your Order (but you shall still be liable to pay any Administration Fee that has been incurred in respect of the relevant Order or we shall be entitled to retain any Deposit you have paid in respect of your Order); or
- if we do not cancel your Order, we may give you a new deadline to make payment and/or provide your personal information (and this clause 11.1 shall apply if you fail to meet such extended deadline).
11.2 If your Order is cancelled pursuant to clause 11.1(b), you may submit a new Order, subject to a revised Spot Price and Premium based on the current live market rate.
11.3 We reserve the right to take legal action against you to enforce these Terms. If we have accepted your Order and you fail to make payment or provide personal information by the relevant deadline, we may be entitled to make a claim against you for reasonable compensation for the costs we have incurred or will incur as a result of you breaking your Contract and we reserve the right to deduct such amounts from any refund payable to you.
11.4 If you do not pay any Administration Fee or other money due or provide any personal information required by the relevant deadline, in addition to our other legal rights and remedies, we may refuse to deal with you in the future until all such money due to us is paid or personal information required is supplied by you.
12. Our Liability to You
12.1 We shall have no liability whatsoever for the value of your investment in Digital Bullion. The bullion market can be volatile and, as with any investment, the value of your purchase may go up or down over time. There is a risk that you could lose money on your investment. We strongly advise you to take financial advice prior to purchasing Digital Bullion. By placing an Order you acknowledge and agree that you are aware of the financial risks associated with the purchase of Digital Bullion and you do not hold Chards responsible or liable for such risks and/or the outcome of your investment.
12.2 This clause 12.2 shall only apply to you if you are a consumer (which means that you are not purchasing Digital Bullion in the course of your trade, business, craft or profession):
- If we fail to comply with these Terms, we may be responsible for loss or damage you suffer that is a foreseeable result of that failure, but we are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if it was an obvious consequence of our breach or if it was contemplated by you and us at the time we accepted your Order.
- We only make Metal Accounts available to you for domestic and private use. You agree not to use the Metal Accounts or to purchase any Digital Bullion for any commercial or business purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity if you do
12.3 This clause 12.3 shall only apply to you if you are opening a Metal Account and purchasing Digital Bullion in the course of your business and not as a consumer:
- We only make Metal Accounts available to you for use in the course of your business. You agree not to resell your Metal Account and we shall have no liability to you in respect your resale of a Metal Account in contravention of this clause.
- Subject to clause 12.7, we will under no circumstances whatsoever be liable to you, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, arising under or in connection with your Order for:
- any loss of profits, sales, business, or revenue;
- loss or corruption of data, information or software;
- loss of business opportunity;
- loss of anticipated savings;
- loss of or damage to goodwill or reputation; or
- any special, indirect or consequential loss.
- Except as expressly stated in these Terms, we do not give any representation, warranties or undertakings in relation to the Digital Bullion or our Metal Accounts. Any representation, condition or warranty which might be implied or incorporated into these Terms by statute, common law or otherwise is excluded to the fullest extent permitted by law. In particular, we will not be responsible for ensuring that the Digital Bullion is suitable for your purposes.
12.4 You shall be solely liable for any losses caused by another person who has access to your Metal Account, whether or not authorised by you, save where such losses have been authorised directly by us or caused by our negligence.
12.5 If you consider that any Physical Bullion we have delivered to you or you have collected from us pursuant to a Contract is not of satisfactory quality or not as described in the relevant specification on our Website (faulty), please notify us (if you are a business customer, you must notify us of any faulty Physical Bullion immediately upon delivery or collection). If we require you to do so, you must return the Physical Bullion to us in accordance with our reasonable instructions or (at our option), allow us an opportunity to collect the Physical Bullion or inspect it at your premises. Until we instruct you to return the Physical Bullion to us, you have a legal obligation to keep the Physical Bullion in your possession and to take reasonable care of it. As a consumer, you may have additional legal rights in relation to faulty Physical Bullion. Advice about your legal rights is available from your local Citizens’ Advice Bureau or Trading Standards office. This clause does not affect your statutory rights.
12.6 Subject to clause 12.7, our total liability to you in aggregate, as consumer and/or a business, in respect of all losses arising under or in connection with our Contract and your Metal Account, Digital Bullion and any Order, whether in contract, tort (including negligence), for breach of statutory duty, or otherwise, shall in no circumstances exceed the Value of the Digital Bullion in your Metal Account as at the date of notification of the liability (or, if this cannot be determined, the average value of the Digital Bullion in the previous 12 month period).
12.7 We do not in any way exclude or limit our liability for:
- death or personal injury caused by our negligence;
- fraud or fraudulent misrepresentation;
- any breach of the terms implied by section 12 of the Sale of Goods Act 1979 (title and quiet possession);
- any breach of the terms implied by section 13 to 15 of the Sale of Goods Act 1979 (description, satisfactory quality, fitness for purpose and samples);
- defective products under the Consumer Protection Act 1987; or
- any other liability which cannot be limited or excluded by applicable law.
12.8 Chards makes no guarantees or assurances whatsoever that access to your Metal Account via our Website and/or customer services personnel shall be uninterrupted and/or available at any time, including without limitation during working hours on working days. Chards accepts no liability whatsoever for any losses you may suffer or may claim to suffer as a result of being unable to access your Metal Account to trade or transfer or request delivery or collection of your Digital Bullion. All Orders and other requests to purchase products, to sell Digital Bullion or other products to us and/or to transfer Digital Bullion are subject to our prior approval. We cannot confirm response times or availability.
13. Events Outside of Our Control
13.1 We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under these Terms that is caused by an Event Outside Our Control. An Event Outside Our Control is defined below in clause 13.2.
13.2 An Event Outside Our Control means any act or event beyond our reasonable control, including without limitation strikes, lock-outs or other industrial action (but not by our own staff), civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, lockdown, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or pandemic or other natural disaster, compliance with any applicable laws or regulations or any law or action taken by a governmental or public authority, failure of or non-performance by a supplier, interruption or failure of a utility service or transport network or failure of public or private telecommunications networks or impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport.
13.3 If an Event Outside Our Control takes place that affects the performance of our obligations under these Terms, we will contact you as soon as reasonably possible to notify you and our obligations under these Terms will be suspended and the time for performance of our obligations will be extended for the duration of the Event Outside Our Control. Where the Event Outside Our Control affects our delivery of Digital Bullion to you or collection of Digital Bullion by you from us, we will arrange a new date for delivery or collection with you after the Event Outside Our Control is over.
13.4 Due to the uncertainties caused by the ongoing COVID-19 pandemic:
- Lead times: It may take us longer than usual to receive certain items in stock and we may not be able to provide accurate lead times on such items. This may affect you if you wish to take delivery of your Digital Bullion as Physical Bullion or to purchase a New Product.
- International orders: From time to time, we may need to suspend international deliveries or deliveries to certain territories. We will let you know if this affects you at the time you make a request for delivery of Physical Bullion or a New Product.
- Collection: Our showroom may be required to close depending on local lockdown restrictions imposed by the UK Government from time to time and it may not be possible to allow collection of Digital Bullion or for you to come to the showroom to make payment when such restrictions are in force.
- To the extent of any conflict between the COVID-19 provisions above and the remainder of these Terms, the above COVID-19 provisions shall take precedence.
14.1 Please contact us if you wish to complain about any aspect of your Metal Account or Order or our customer service. We are very keen to hear your concerns and to resolve any issues promptly.
14.2 If you are a consumer and you are not satisfied with how we have handled any complaint, you may wish to request that the complaint be referred for alternative dispute resolution (where an independent body considers the facts of the dispute and seeks to resolve it without you having to go to court). Please contact us if you would like for further information on the relevant dispute resolution process applicable to you.
15.1 Notices we have to send to consumers shall be sent in writing via your Metal Account or by email or pre-paid post using the contact details you have provided to us in connection with your Metal Account. Alternatively, we may contact you by telephone where the notice does not need to be in writing.
15.2.If you are a business:
- any notice or other communication given by you to us, or by us to you, under or in connection with these Terms, your Metal Account or any Order shall be in writing and shall be delivered personally, sent by pre-paid first class post or other next working day delivery service, sent by airmail, sent by email, or (in respect of notice to be given by us to you only) posted on our Website.
- a notice or other communication shall be deemed to have been received: if delivered personally, when left at the recipient’s registered office; if sent by pre-paid first class post or other next working day delivery service, at 9.00am on the second working day after posting to the recipient’s registered office; if sent by airmail, at 9.00am on the fifth working day after posting; if sent by email, one working day after transmission (provided no delivery failure notification is received by the sender); or, if posted on our Website, immediately.
- in proving the service of any notice, it will be sufficient to prove, in the case of a letter, that such letter was properly addressed, stamped and placed in the post and, in the case of an email, that such email was sent to the correct email address and that no delivery failure notification was received.
16. Other important terms
16.1 These Terms are drafted in the English language and such version shall prevail over any translations of these Terms.
16.2 To the extent of any conflict between the provisions of these Terms and any document referred to in them, these Terms shall take precedence.
16.3 We may transfer our rights and obligations under these Terms or a Contract to another organisation, but this will not affect your rights or the obligations owed to you under these Terms. You may only transfer your rights or your obligations under these Terms to another person if we agree in writing.
16.4 Each Contract shall be binding upon you and us, and each party’s respective personal representatives, successors and permitted assigns. No other person shall have any rights to enforce any of its terms, whether under the Contracts (Rights of Third Parties Act) 1999 or otherwise.
16.5 Each clause of these Terms operates separately. If any court or relevant authority decides that any of them are unlawful or unenforceable, the remaining clauses will remain in full force and effect.
16.6 The rights and remedies provided under these Terms are in addition to, and not exclusive of, each other and any rights or remedies available under applicable law.
16.7 If we fail to insist that you perform any of your obligations under these Terms, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you and will not mean that you do not have to comply with those obligations. If we do waive a default by you, we will only do so in writing, and that will not mean that we will automatically waive any later default by you.
16.8 If you are a consumer (which means that you are not purchasing Digital Bullion in the course of your trade, business, craft or profession), please note that these Terms and any Contract incorporating them are governed by English law. This means each Metal Account, any Order or Contract and any dispute or claim arising out of or in connection with them will be governed by English law. You and we both agree that the courts of England and Wales will have non-exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these Terms and/or any Metal Account, any Order or Contract or their subject matter. However, nothing in these Terms will override any mandatory laws of the country in which you have your usual place of residence or limit your legal rights to bring actions against us or to require proceedings take place in the country in which you have your usual place of residence.
16.9 If you are a purchasing Digital Bullion in the course of your trade, profession or business, these Terms and any agreement incorporating them and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with English law. You and we both agree that the courts of England and Wales shall have exclusive jurisdiction to settle any such dispute or claim (including non-contractual disputes or claims).
These Terms were last updated in April 2021