SECTION A: GENERAL TERMS
A 1. INTRODUCTION
1.1 We are Chard (1964) Limited, a company registered in England and Wales under company number 1378220 and with our registered office and store at 32-36 Harrowside, Blackpool, FY4 1RJ. In these Terms, we refer to ourselves as “Chards”, “we”, “us”. 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”).
1.2 These terms and conditions and each of the documents we refer to in them (all together, the “Terms”) form the relationship between you and Chards as follows:
- 1.2.1 Section A: General Terms
- 1.2.2 Section B: Terms for Buying Products
- 1.2.3 Section C: Metal Account Terms
- 1.2.4 Section D: Terms for Vaulted Storage
- 1.2.5 Section E: Selling to Chards
- 1.2.6 Section F: Cryptoasset Storage Terms
- 1.2.7 Schedule 1: Risks relating to cryptoassets
- 1.2.8 Schedule 2: Cancellation Form
1.3 By buying our products or using our services, you confirm that you accept these Terms and that you agree to comply with them. If you do not agree to these Terms, you must not buy our products or use our services. We recommend that you print a copy of these Terms for future reference.
1.4 You can choose to purchase and / or store “Investment Products” or “Non-investment Products” from / with us (Investment Products and Non-investment Products are together referred to as “Products”). The key difference between Investment Products and Non-investment Products is that, with Investment Products, the price is dependent on fluctuations in the financial market, and, with Non-investment Products, the price does not depend on fluctuations in the financial market (although both types of Products may be purchased for investment purposes). If you are unsure if a Product is an Investment Product or Non-investment Product, please contact us to confirm this before placing your order for them or storing them with us. Please be aware that some of the terms which apply to sale of Investment Products (particularly those concerning cancellation of orders) are different to those which apply to Non-investment Products, as set out in these Terms.
1.5 References to applicable law in these Terms shall include all relevant statutes, regulations or regulatory rules and official guidance and interpretation in any relevant jurisdiction and references to any laws, statutes, regulations or regulatory rules shall refer to those in force from time to time.
1.6 The singular includes the plural and vice versa. References to one gender include all genders.
1.7 The headings of sections and clauses of these Terms are for convenience only and shall not affect its construction or interpretation. Any reference in these Terms to a section or clause is a reference to a section or clause of these Terms. The schedules form part of this Agreement.
1.8 Where the words "includes", "including", "for example" or "such as" are used in these Terms they are deemed to have the words "without limitation" following them. Any reference to "written consent" shall mean specific consent expressed to be for the purposes of the particular clause or section of these Terms.
A 2. CONTACT DETAILS AND COMMUNICATIONS
2.1 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.
2.2 Communications between us shall be in English. Should we receive a communication or instruction which purports to be from you, we are entitled, but are not obliged, to rely on and conclusively presume that such communication or instructions have been given by you. We may record and monitor conversations we have with you.
2.3 You must keep your contact information with us up to date, as any communication we send to your contact details will be deemed received by you, regardless of whether you actually receive it.
2.4 You accept that we are deemed to have received any email correspondence at the time we access it. You accept that there may be a delay in responding to correspondence received. You also acknowledge and accept the risks inherent in email, particularly of its unauthorised interception and of its not reaching the intended recipient.
A 3. ON-BOARDING
3.1 Before you use our services or purchase any Product, you may need to set up an account with us and provide us with certain information we request. You can do this on our Website, via the telephone or at our showroom. We may keep a record of the information you provide.
3.2 We reserve the right not to on-board any person, and where we do not on-board any person, we do not have any obligation to provide our reasons for doing so.
A 4. ELIGIBILITY FOR OUR SERVICES
4.1 By using our services and purchasing any Product you confirm that:
4.1.1 (if you are a body corporate) you are duly organised and validly existing under the laws of the jurisdiction of your domicile, and have full power, authority and right, and have taken all action required, to bind yourself to these Terms, including as regards performing all actions and obligations under these Terms, which therefore constitute valid and legally binding obligations;
4.1.2 (if you are an individual) you are at least 18 years old and eligible to agree to these Terms and all related obligations, including as regards any age, residency, legal capacity, competency and all other requirements;
4.1.3 you will comply with any applicable law relevant to you, including not committing, causing, facilitating or contributing to the commission by any person of any bribery, corruption or tax evasion offence;
4.1.4 you have not received any advice from us in relation to the merits of using our services or acquiring any Product, and you are solely responsible for any evaluations, decisions and actions taken in connection with these Terms;
4.1.5 you understand the tax implications of using our services and acquiring our Products and accept sole responsibility for any tax implications in relation to such-;
4.1.6 you will provide us with whatever information we may request for the purposes of satisfying our regulatory, compliance and contractual obligations, including identification checks, money laundering checks, prevention of terrorist financing, KYC checks, and preventing any suspected fraud;
4.1.7 authorise us to make any inquiries, whether directly or through third parties, that we consider necessary to verify your identity or to protect us and / or you against fraud or other financial crime, and to take any action we reasonably deem necessary based on the results of such inquiries (and your access to our Products and services may be altered as a result); and
4.1.8 all information you supply to us is complete, accurate, up to date and not misleading, and you will notify us promptly of any change to such information.
4.2 You shall inform us immediately in the event that you can no longer comply with your obligations set out at clause A 4.1.
A 5. KEEPING YOUR DETAILS SAFE
5.1 As part of on-boarding, you may be provided with or asked to create security details. You must keep your security details secure and not disclose them to anyone else. You should contact us immediately upon discovering any unauthorised use of your security details.
5.2 Any action or instruction by anyone using your security details will be treated as if such action or instruction had been made by you, and we are not responsible for any loss as a result.
5.3 PLACING AN ORDER FOR PRODUCTS AND SERVICES
5.4 You may place orders for Products and services by email, via our Website, or over the telephone.
5.5 If we are unable to accept your order (for example, because of storage limits, lack of availability, or because we have identified an error in the fees due), we will inform you and not process your order. If you have not received confirmation that your order has been accepted within two “Working Days” (being days other than a Saturday, Sunday or UK public holiday) of the date you placed your order, please contact us. We will only accept responsibility for providing Products and services where we provide you with specific confirmation of your order by email, which email shall be titled "Sales Receipt" if you make an order using a debit card, and "Your Order Has Been Accepted" if you pay by another payment option, such as BACS. Please note that if we send you a general acknowledgment email this does not constitute confirmation of your order, and does not mean your order has been accepted.
A 6. PRICE
6.1 The price of a Product does not include delivery charges and is inclusive of any VAT that may be applicable in the UK.
6.26.1 The prices of our services and Products shown on our Website and in our adverts are indicative and so are not guaranteed. Prices may also change from time to time. Except as set out in these Terms, any pricing changes will not affect any order for services and Products which we have already accepted in accordance with these Terms.
6.2 Prices we provide in relation to the sale of Products are inclusive of VAT (if applicable), and the prices we provide in relation to services are exclusive of VAT (if applicable).
6.3 If there is a pricing error that is obvious and unmistakable and which could reasonably have been recognised by you as mispricing, we may cancel our agreement with you for the relevant Product(s) / service(s), refund to you any sums you have paid us for them, and require that you return them.
A 7. OUR LIABILITY TO YOU
7.1 Notwithstanding any other clause in these Terms, we do not in any way exclude or limit our liability for death or personal injury caused by our negligence; fraud or fraudulent misrepresentation; or any other liability which cannot be limited or excluded by applicable law.
7.2 Subject to clause A 7.1, in no event shall we be liable to you for any losses:
7.2.1 except where caused directly and reasonably foreseeably by our gross negligence (loss 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 for the relevant Product(s) / services);
7.2.2 caused by events outside our reasonable control;
7.2.3 resulting from any attack by a third party on our systems;
7.2.4 which constitute 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 other special, indirect or consequential loss;
7.2.5 as a result of your breach of these Terms;
7.2.6 as a result of exercising any of our rights under these Terms; or
7.2.7 which we otherwise exclude our liability for under these Terms.
7.3 Any liability we have for losses you suffer arising from any contract agreed under these Terms shall not, in respect of any 12 month period (calculated from the date that contract is entered into), exceed the charges payable by you for the relevant product or services in that 12 month period.
7.4 If loss is caused by the gross negligence of any third party we use, we will pass on any relevant compensation we receive from them to you. In addition, where we receive an insurance pay-out in respect of any loss, we will pass the benefit of such pay-out to you. If several of our clients are eligible to receive compensation or a pay-out under this clause A 7.4, we will pass on any compensation or pay-out we receive to the affected clients in proportion to their loss, and any determination we make in this respect shall be considered final.
A 8. PAYMENTS
GENERAL
8.1 You must pay all fees due to us, including any Delivery Fees (see clause A 8.8 and A 8.9). Please note that there may be charges and costs other than those charged by or via us, and you are also responsible for these.
8.2 You must pay each invoice we issue (i) for services (such as storage of your metal or cryptoassets) within 14 days of the date of issue, (ii) for the purchase of Products within 24 hours of the time of issue. Late payments may result in additional charge (see clause A 9 below).
8.3 All payments should be made in the currency or cryptoasset we agree with you (at our sole discretion) in advance of you placing your order. If you choose to pay in a foreign currency, from a bank account which is not a pounds sterling account, or using a cryptoasset we support, you shall be responsible for paying all charges and fees incurred by you and/or us as a result of doing so. Please note that the types of cryptoassets we support for payment purposes may be different to those we provide safekeeping services in relation to.
8.4 Payments by direct debit will be taken on or around the first day of each month unless otherwise agreed. 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 may carry additional charges, and you are responsible for these.
PAYMENTS USING CRYPTOASSETS
8.5 Please note that purchasing services or products using cryptoassets is not an activity regulated by the Financial Conduct Authority and/or the Prudential Regulatory Authority. In making a payment to us in cryptoassets you are not protected by the Financial Services Compensation Scheme and you are not protected by the Financial Ombudsman Scheme.
8.6 We may support the following cryptoassets: BTC (on the UTXO network), as well as USDC and ETH (on the ERC-20 network only), and such other cryptoassets on the ERC-20 network as we may agree with you from time to time. Please note that any payment made using the wrong network will be deemed not made, and we shall have no obligation to assist you in retrieving the sent cryptoassets. We may withdraw our support to any cryptoassets or support additional cryptoassets from time to time for any or no reason. We do not accept any responsibility for explaining any decision we make in this respect, nor do we accept any liability as a result of such a decision.
8.7 In making any payment using cryptoassets you represent that:
8.7.1 as far as you are aware, you are legally permitted and authorised to make payment in your chosen cryptoasset, that there is no other reason to prevent you from making a payment in cryptoassets, and that you have taken all reasonable steps to ascertain that this is the case.
8.7.2 you have sufficient experience, knowledge and understanding to make a payment using cryptoassets, including understanding the potential fees that may be charged to you when using a particular protocol to process a transaction (e.g. gas fees on the Ethereum protocol).
8.7.3 you shall not make any payment using cryptoassets derived from an illegal or illegitimate source.
8.7.4 you shall only make payments using cryptoassets which are not subject to any rights of any third party and are which are free from any viruses, bugs, glitches, exploits, vulnerabilities, weaknesses, spyware, malware, adware or other harmful, malicious or deleterious programs, material, code, file or software.
8.7.5 you accept full responsibility for ensuring that you send all payments to the correct address using the procedures we require you to follow, and that a failure to do so may result in you sending cryptoassets to the wrong person. In such a scenario, you may not be able to get back your cryptoassets and we shall have not obligation to complete the relevant transaction and / or make a refund to you.
8.7.6 you will accept sole responsibility for determining if making a payment using cryptoassets has any tax implications and for complying with any obligations you have in relation to tax. Tax treatment depends on your individual circumstances and may be subject to change in the future. Please note that taxes and costs may exist that are not paid via us or imposed by us.
DELIVERY FEES
8.8 Where we arrange delivery for you, you are responsible for any delivery costs and our administrative fee for doing so (the “Delivery Fee”). The Delivery Fee shall include our actual cost of delivery, packaging and insurance and shall be calculated by reference to the price of the relevant Product(s) (as determined by us by reference to the prices set out on our Website). Unless we advise you otherwise, the parcel shall be insured up to the price of the Product(s) during transit. If any tax is payable in relation to making the delivery, you are also liable to pay this. Generally, any delivery to a residential address in the United Kingdom will incur VAT, and any delivery outside the UK incurs customs duty in additional to any local charges, government fees and levies. You are responsible for determining the tax you are liable to pay.
8.9 Please refer to our Website here for further details on deliveries and our standard delivery costs. If the Delivery Fees to a location are not published on our Website, please contact us for a bespoke quote. If our courier is unable to collect from you / deliver to you the Products at the agreed address, time and date, you shall be liable to pay us an additional fee of £60 (excluding VAT if applicable) (or, if higher, the costs and expenses incurred by us as a result) in order to agree a new time for the collection or the delivery.
PRE-PAYMENTS
8.10 We will only accept a pre-payment in circumstances where we believe in good faith that it is a genuine pre-payment. We do not accept any obligation to agree to receive a pre-payment, and so we reserve the right to decline a pre-payment without having any obligation to provide reasons for doing so. Any monies we receive by way of pre-payment will not receive any interest. Furthermore, you may not generally leave pre-payment monies inactive in your account or to otherwise hold balances indefinitely, and we reserve the right to return any monies received where we believe that such circumstances may have arisen. Where we return any monies to you, we will return the monies back to the account from which you made the pre-payment to us, on the basis that we have not provided our service(s) or Product(s).
8.11 When you make a pre-payment, your monies will be received or transferred directly into a segregated client money account, separate from our own funds. This means that the pre-payment monies are held by the bank on your behalf, and, as such, we do not on-lend any pre-payment monies we receive, nor do we finance any of our activities out of the capital of or interest on such monies. Pre-payment monies will only move into our own account at the point in time that they are due and payable as a genuine fee to us.
8.12 We do not accept any liability for any action or inaction we take in determining how to deal with pre-payments, and we do not accept any liability for any loss or potential loss, howsoever caused, as a result of any decision to accept, decline or return a pre-payment.
8.13 Please note that we are not a bank, we do not accept deposits, and that in accepting any prepayment we are not providing any service regulated by the Financial Conduct Authority and / or the Prudential Regulatory Authority. As such, in making a prepayment to us you are not protected by the Financial Services Compensation Scheme, and you are not protected by the Financial Ombudsman Scheme.
A 9. LATE PAYMENT, LATE SUPPLY OF INFORMATION AND ADMINISTRATION FEES
9.1 If you fail to make payment 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.
9.2 If payment is not made by you or received by us in accordance with the applicable deadline:
9.2.1 we may charge you an administration fee of 1% of the price of Product / services affected (subject to a minimum fee of £30 and a maximum fee of £500) (excluding VAT (if applicable)) (the “Administration Fee”) to cover our administrative costs incurred as a result. Any Administration Fee shall be payable within seven days of you being notified that an Administration Fee has been charged;
9.2.2 you will pay us for any direct loss we incur as a direct result of any adverse price movement of the relevant Product(s) you have purchased;
9.2.3 if you are a business customer, we may also charge interest to you on the overdue amount at the rate of 8% a year above the base lending rate of the Bank of England or such higher statutory rate as may be available under applicable law. This interest shall accrue on a daily basis from the due date until the date of actual payment of the overdue amount, whether before or after judgment. You must pay us any interest together with the overdue amount.
9.3 We may also, at our sole discretion:
9.3.1 cancel some or all of your contracts with us under these Terms (but you shall still be liable to pay any Administration Fee incurred); and / or
9.3.2 if we do not cancel your order(s), we may give you a new deadline to make payment (and clause A 9.2 shall apply if you fail to meet such extended deadline).
9.4 If your order for Products or services is cancelled pursuant to clause A 9.3, you may submit a new order, subject to agreeing revised fees.
9.5 In addition to our rights under clauses A 9.2 and A 9.3, the event of a non-payment or late payment of our fees, you agree that we may use, sell, retain or set-off any Products or assets we are holding for you to settle the amount owed. We will only exercise this right if we have asked you for payment and the sum is outstanding for 25 Working Days from the date of our request.
9.6 If you do not pay any fees or other amounts due required by the relevant deadline, in addition to our other legal rights and remedies, we may refuse to deal with you in the future.
A 10. DELIVERY OF METAL PRODUCTS
10.1 Where we make delivery, the time for delivery will depend on the relevant Product. We normally despatch Products we hold in stock within two Working Days of receipt of the full price of the Product. We may be able to make certain Products available on an express basis, if requested by you, subject to stock and market factors, but this may incur a premium price, stricter payment terms and /or stricter cancellation terms which you agree to by requesting delivery on an express basis. Any delivery dates provided are estimates only.
10.2 If we are unable to meet the standard despatch times referred to in clause A 10.1, or we consider that we may not be able to deliver any Products within 30 days of our acceptance of your order for them (or such later time as we may have notified to you), we will let you know as soon as practicable.
10.3 For Products which we source for you and which are bought for more than £60, you may need to confirm you are available to accept delivery on the nominated day before we despatch your Products to you. You may be required to sign for your Products upon delivery and, if you are not available, this may result in your Products being returned to a local sorting office or warehouse awaiting your collection or being returned to us. If your Products are returned to us in these circumstances, you will be charged the additional costs incurred by us as a consequence, which we will need to receive from you in full before we attempt re-delivery.
10.4 If you would like us to deliver Products to a destination outside of the United Kingdom, please note that local laws may 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 information on the destinations we can ship to. 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 other taxes in the country of destination, and you are responsible for payment of these. Please note that we have no control over these charges and we cannot predict their amount.
10.5 Deliveries may also be subject to seizure by the relevant customs or other authorities if there are any restrictions on the import of the relevant Products into that territory. We do not make any representations or guarantees in respect of whether you will be permitted to import Products into any territory. You are responsible for determining whether any restrictions on import are in place and applicable, and for complying with applicable laws of the country for which the Products are destined. We do not accept liability for loss or damage to any Products which are 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 Products.
10.510.6 Where we organise delivery, our total liability in respect of any loss of Goods during transit will be limited to the amounts received from the insurer under such insurance, which we shall pass on to you in accordance with clause A 7.4. We only obtain insurance for Goods with a value of £60 or more . In order to obtain appropriate insurance, you must send the Goods to us in parcels of a maximum value of £20,000, or (where this is not possible) you must inform us in advance and send the Goods to us in parcels of a maximum value of £60,000. If it is not possible to split Goods into parcels of a maximum value of £60,000, we will discuss with you obtaining custom insurance for the delivery. Each parcel will be insured up to the lower of the maximum insured value of the parcel, or the metal value of the Goods as determined at our discretion from your description of the Goods. Please note that whilst the insurance covers loss of Goods in transit to us, it does not cover any damage to the Goods caused during transit.
10.610.7 Delivery of Products shall be complete once it has been confirmed by Royal Mail or our courier company that the Products have been delivered to your billing address (or such other address we have agreed to deliver to) or (if you are collecting the Products from us) when you take physical possession of the Products at our showroom. We strongly recommend you have adequate insurance arrangements in place from the point of delivery or collection.
10.710.8 All risk in Products shall pass to you on completion of delivery.
A 11. SUSPENDING OR ENDING A CONTRACT FOR SERVICES UNDER THESE TERMS
11.1 Each contract for services agreed under these Terms will continue until terminated by you or us in accordance with these Terms.
11.2 You may terminate all or part of a contract for services at any time without liability:
11.2.1 by providing at least 14 days written notice to us; or
11.2.2 in the event that termination is in response to a proposed change to these Terms, in accordance with clause A 13.
11.3 We may suspend, restrict, or terminate your access to any or all of the services we provide, without reason or penalty, by giving you 10 days’ notice.
11.4 In addition, we may at our sole discretion: (a) suspend, restrict, or terminate your access to any or all of our services, and/or (b) terminate some or all of the agreements we have with you under these Terms with immediate effect where:
11.4.1 we are, in our reasonable opinion, required to do so by applicable law or any court or other authority to which we are subject in any jurisdiction;
11.4.2 we suspect you of acting in breach of these Terms;
11.4.3 we have concerns that our services are being used in a fraudulent or unauthorised way;
11.4.4 the third parties we use in connection with providing our services suspend or cease operation of their services;
11.4.5 this is beneficial to deal with events that occur which are outside our reasonable control which impacts our ability to provide our services; and / or
11.4.6 reasonably required to deal with a security concern.
11.5 Unless it would compromise reasonable security measures or be unlawful, we will inform you by email, telephone or via our Website of any suspension and our reasons for it.
A 12. EFFECT OF TERMINATION
12.1 On termination of your agreement(s) with us as agreed under these Terms we will return any Products we hold for you to you, subject to (i) you completing any further identity verification procedures, as well as anti-money laundering and prevention of terrorist financing procedures, that we may require; and (ii) you paying us any outstanding fees owed, as well as any Delivery Fee (on which see clauses A 8.8 and A 8.9.
12.2 If you do not take delivery of your Products within three months of the relevant agreement(s) being terminated, we reserve the right to sell them, at the price which according to us can be reasonably obtained at that moment. We will provide you with at least one month’s written notice that we are intending to sell your Products before selling them. We shall use the proceeds of the sale of your Products to pay any outstanding fees and other amounts owing to us as well as any costs associated with the sale. We shall (at your cost) transfer any remaining amounts to you in accordance with your instructions, subject to clause A 12.3.
12.3 If, after 6 months following the termination or expiry of your agreement with us under these Terms, your Products and/or the proceeds of their sale remain in our possession or control because you have failed to collect your Products or provide us with instructions (which we reasonably deem appropriate) on how to return your Products or the proceeds of their sale to you, title to those Products and proceeds of sale shall transfer to us we shall convert them into Digital Bullion and store them in accordance with (and subject to the fees set out in) Section C: Metal Account Terms.
A 13. CHANGES TO THESE TERMS
13.1 We may make changes to our fees and these Terms from time to time in relation to agreements which have not yet been agreed under these Terms.
13.2 We may also make changes from time to time in relation to agreements which have already been agreed under these Terms:
13.2.1 to reflect changes to relevant law or regulation, as well as the way we are taxed (including the requirement to pay any government or regulatory levy), or you or a Product are taxed;
13.2.2 to reflect changes required by any court, regulatory or tax authority or industry guidance or codes of practice;
13.2.3 to reflect changes in the way gold, coin, bullion and cryptoasset markets work;
13.2.4 to reflect changes to our technology or other systems;
13.2.5 to reflect changes to our fees, for example to reflect changes in the costs in us providing our services to you, as well as to reflect other relevant costs outside our control;
13.2.6 if it becomes impossible or impractical, in our reasonable opinion, to carry out any aspect of the Terms as a result of circumstances beyond our reasonable control;
13.2.7 to reflect changes to the range of Products / services we make available to our customers generally;
13.2.8 to make the Terms easier to understand;
13.2.9 where the changes are to your benefit or not detrimental to you; or
13.2.10 for any other valid reason.
13.3 We will give you reasonable notice of any changes to these Terms, or we may make changes with immediate effect where they are in your favour, are required by applicable law or relate to the addition of new Products or services.
13.4 We will notify you of any changes by email, via our Website, or using such other method as we agree with you at our sole discretion. You will be treated as accepting any change that we make to these Terms unless you tell us that you do not agree to the change, in which case you must notify us. We will treat such notification as termination of the relevant agreement(s) with us with effect from the date that the change would otherwise come into effect.
A 14. CANCELLATION AND REFUNDS
14.1 Cancellation rights are only available to consumers in relation to Non-Investment Products, the price of which is not dependant on fluctuations in the financial markets. Cancellation rights are also not available to business customers.
14.2 Subject to clause A 14.1, if you are a consumer residing within the UK or European Economic Area, you have placed an order for Non-Investment Products via our Website or over the telephone, and you did not visit us in-store before entering an agreement for those Non-Investment Products under these Terms, you can cancel that agreement, without having to give any reason for doing so, during the period set out in clause A 14.3 below.
14.3 The period in which you may cancel your agreement with us under these Terms will expire after 14 days from the day that it was concluded. To exercise a cancellation right, you must inform us that you wish to cancel your agreement. You can inform us of your decision to cancel your agreement in-store, over the telephone on +44 (0)1253 343081, by post at 32-36 Harrowside, Blackpool, FY4 1RJ, England, or by e-mailing us at [email protected]. You may also use the model cancellation form, which is set out at Schedule 2, but it is not obligatory.
14.4 With regards to the cancellation of any services provided by us in relation to Non-investment Products, if you exercise your right to cancel your agreement with us under these Terms in accordance with this clause A 14 after we have started providing those services, you must pay for them up until the time you tell us that you have changed your mind, and our fees in this case will be calculated on a pro rata basis in proportion to the period for which the services have been supplied. Any other fees (for services not yet provided) shall be refunded to you by the method you used for payment (unless otherwise agreed).
14.5 You agree that refunds may be made in the currency which you paid for the Non-Investment Products, or the equivalent in pounds sterling. As the exchange rate of cryptoassets and foreign currencies fluctuates frequently, the amount of any refund will be the amount in pounds sterling received by us at the time that we exchanged the payment received from you to pounds sterling, after the payment of any exchange and other fees paid at the time of receipt to transfer your fees into pounds sterling. As such, you accept that you may get back an amount less than the equivalent amount that you would have received had your fee not been converted into pounds sterling.
14.6 We will make any refunds due to you within 14 days of you telling us that you wish to cancel your agreement.
A 15. COMPLAINTS
15.1 If you wish to complain about any aspect of our services or Products please contact our customer service team at [email protected]. We are very keen to hear your concerns and to resolve any issues promptly.
A 16. PERSONAL DATA
16.1 We will use your personal data in accordance with our Privacy Policy and Cookies Policy. By entering into any agreement(s) under these Terms you also agree to these documents, and so you should take the time to read them.
A 17. ADVERTISEMENTS
17.1 If you wish to order any Product(s) advertised for sale in an advertisement (whether that Product is an Investment Product or a Non-Iinvestment Product), you should call us to check the availability and price of the Products that you wish to purchase before sending any payment to us for such Products.
17.2 If you place an order for an Investment Product in response to an advertisement, and the price of the relevant Investment Product has increased from that set out in the advertisement, we will contact you to check whether you would like to proceed with your order at the correct higher price. If we do not obtain your agreement to proceed within 24 hours of receiving your order, we will cancel your order and return any payments made by you as soon as reasonably practicable.
A 18. QUALITY
18.1 All images we show on our Website and in any of our other advertising materials (such as brochures and printed advertisements) of the Products we make available and their packaging are for illustrative purposes only. We cannot guarantee that you will get the exact Product or packaging pictured in those images. The images of Products or packaging used on the Website and in advertising materials may be generic images of a particular kind of Product, but not of the specific Product you purchase. Due to the nature of the Products we sell (including second hand Products), Products of the same type may vary in their packaging and may be subject to imperfections. For example, the condition of certain Products may not be pristine, Products and packaging may be scuffed or scratched, and packaging (including presentation boxes and their lining) may be stained or discoloured. Products will be graded depending on their condition and images of Products may not display the exact Product or the grade of Product that you are purchasing. Please refer to the written description of the Product when making any decision to purchase a Product.
A 19. NOVATION
19.1 We may appoint another entity to take over all or some of our rights and obligations under these Terms (the “New Entity”), in which case you consent to us transferring by way of novation all or some of our rights and obligations under these Terms to the New Entity. As soon as reasonably practicable following such novation, we shall notify you in writing of the effective date of such novation. From such effective date, all references in these Terms to “Chards”, “we”, “us” or “our” shall be deemed to be references to the New Entity.
A 20. GOVERNING LAW AND JURISDICTION
20.1 If you are a consumer, please note that these Terms and any dispute or claim arising out of or in connection with them shall 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 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.
20.2 If you are a business, these Terms 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. 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).
A 21. MISCELLANEOUS
21.1 These Terms shall take effect from the earlier of the date on which you start using our Products or our services, or when we accept any order for our Products or services from you.
21.2 Each party to these Terms is an independent contractor and shall not describe or in any way hold itself out as being the agent of the other party. Nothing in these Terms shall give rise to a partnership, agency, employment relationship or joint venture between the parties.
21.3 Each of the provisions of these Terms are separate, severable and enforceable and, accordingly, if at any time any provision or part-provision of these Terms is or becomes invalid, void, illegal or unenforceable, it shall be deemed deleted, but that shall not affect the validity and enforceability of the rest of these Terms. If any provision or part-provision of these Terms is deemed deleted under this clause A 21.3, the parties shall negotiate in good faith to agree a replacement provision that, to the greatest extent possible, achieves the intended commercial result of the original provision.
21.4 You may not assign, lien, mortgage, transfer, charge or otherwise encumber any of your rights or obligations under these Terms.
21.5 We may assign the benefit of these Terms without restriction subject to compliance with applicable law and regulation.
21.6 The parties intend that any New Entity shall have the right to enforce any rights granted to it under these Terms pursuant to the Contracts (Rights of Third Parties) Act 1999 (the "1999 Act"). Save as aforesaid, the parties do not intend that the provisions of these Terms shall be enforceable by virtue of the 1999 Act or otherwise by any person not a party to it. Notwithstanding this clause A 21.6, the consent any third party is not required for any variation (including any release or compromise of any liability) or termination of these Terms.
21.7 No variation or waiver of any of the terms of these Terms shall be effective unless agreed by us explicitly in writing. No failure or delay by us to exercise any right, power or remedy under these Terms shall operate as a waiver of that right, or any other right, nor shall any single or partial exercise by us of any right, power or remedy preclude any other or further exercise of that right or any other right, power or remedy.
SECTION B: TERMS FOR BUYING PRODUCTS
B 1. INTRODUCTION
1.1 This section of these Terms will apply where we sell you our Products. All Products shown on our Website and in our advertising materials are subject to availability.
1.2 You will own a Product once you receive the confirmation of our acceptance of your order for it, we have received the Product from our supplier (if applicable), we have received payment in full in cleared funds for the Product and we have received any documentation we may request in respect of processing your order for the Product.
B 2. PRICES
2.1 Where you purchase an Investment Product, and if payment (including any pre-payment or non-refundable deposit) or any required personal information is not received by us by the applicable deadline, the quoted price of the Investment Product may increase to take account of market fluctuations, and you will be required to pay us the difference in order to obtain the Investment Product.
2.2 Where you ask us to procure Product(s) for you with a value of £50,000 or more, we will require a non-refundable deposit from you to secure your order for this service. You accept that this deposit is a proportionate fee due to us for the service already provided by us of sourcing the Product, in the event of you exercising any cancellation right after ordering us to proceed with providing this service.
2.3 Where we agree that you may make a pre-payment, that payment shall be an estimate of the price of your order and shall be subject to fluctuations until the pre-payment has been received by us, following which we shall fix the price and confirm the final amount to you. If at this point you decide not to proceed with completing your purchase of the Investment Product, we may deduct from any reimbursement to you of the pre-payment amount an amount to cover any loss to us, as well as our reasonable administrative expenses, as a result (on which please see clause A9).
2.4 Please see clause A 8 for further information regarding making payments.
B 3. FAULTY PRODUCTS
3.1 If you consider that any Product(s) we provide is faulty or misdescribed, you have up to 30 days to request a refund. You must return such Product(s) to us as soon as reasonably practicable in accordance with our reasonable instructions. You must keep the Product(s) in your possession and to take reasonable care of the Product(s) while they are in your possession. If you have returned any Product(s) to us because they are faulty or misdescribed, we will inspect the Product(s) and, if found to be faulty, we will issue a replacement or refund the price of the Product(s) in full.
3.2 We will process the refund due to you within 14 days of the day we confirm to you via e-mail, by post or by telephone that you are entitled to a refund for the defective or misdescribed Product(s). Please see clause A 14 for more information regarding refunds.
SECTION C: METAL ACCOUNT TERMS
C 1. INTRODUCTION
1.1 You open an account (your “Metal Account”) and purchase troy ounces of gold and silver (“Digital Bullion”) from us at the live market rate. You may hold Digital Bullion until you take delivery of it in accordance with clause C4.
1.2 Digital Bullion will be held on an allocated basis, meaning that once you place an order we will source and hold sufficient physical gold or silver bullion to cover your purchase (either from existing stock or by purchasing such quantity of gold or silver bullion as is required to cover the purchase, in which case we will generally obtain the required stock within a few days of your order).
1.3 Please note you will not have any ownership rights in the physical bullion we purchase to back your allocated Digital Bullion until you take delivery of it.
C 2. MAKING AN ORDER
2.1 You can order either:
2.1.1 a specific quantity of troy ounces of Digital Bullion. Troy ounces for gold and silver are measured down to 4 decimal places (i.e. 0.0001 tr oz); or
2.1.2 a specific monetary value of Digital Bullion, down to two decimal places (e.g. £0.01). The minimum order value is £10, US$10 or EUR€10.
2.2 The minimum residual amount of Digital Bullion you may retain in your Metal Account is 0.001oz of gold or silver.
2.22.3 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.
C 3. FEES
3.1 Digital Bullion is an Investment Product, and as such its price is dependent on fluctuations in the financial markets outside of our control. We will agree with you the price you must pay for Digital Bullion when you place your order. All prices of Digital Bullion shall be set using the live market rate as shown on our Website at the time you place your order (the “Bullion Price”), plus a premium calculated as a percentage of the Bullion Price (the “Premium”). The Bullion Price plus the Premium is the amount you must pay when you place your order.
3.2 Once you have placed an order, there is then an ongoing fee to keep the Metal Account open. This fee is calculated (exclusive of any VAT that may be applicable) on a monthly basis, and calculated as the higher of:
£10 + VAT (if applicable)
or
Value of Stored Products x relevant percentage / 12 + VAT (if applicable)
where:
3.2.1 the value of Digital Bullion shall be calculated by multiplying the weight in grams of the Digital Bullion by the average price per gram. The average price per gram shall be calculated by adding the highest and lowest price per gram for Digital Bullion (according to the live price feed on the Website) during the 30-day period immediately before the invoice date and dividing this amount by 2;
3.2.2 the relevant percentage shall be as advertised on the storage page of our Website at the time you place your order, as calculated in ounces to 4 decimal places.
3.3 Fees will vary each month in line with variations to the value of Digital Bullion. The first billing month (which may not be a complete calendar month) shall commence on the date we receive your order for Digital Bullion and on the 1st of the next month, and thereafter subsequent billing months shall commence on the 1st of each month. Fees payable for the first two billing months will be invoiced on or around the start of the second billing month. The fees for each subsequent billing month will be invoiced on or around the start of that month.
3.4 When you take collection of Digital Bullion, Delivery Fees may apply, on which see clause C 5.
3.43.5 If you do not pay us any fee, for any reason, within a month of that fee becoming due and payable, you authorise us to dispose of Digital Bullion of an amount equivalent to that outstanding fee, and to use the proceeds of that sale to pay all amounts owed to us.
3.53.6 We take all reasonable care to ensure that our fees are correct at the time at which they are notified to you. However, it is always possible that, despite our reasonable efforts, the fees we notify to you of may be incorrect. We shall notify you of any mistake as soon as possible. If the correct fees are less than the amounts that were notified to you, we will charge the lower amount for future billing months. If the correct fees are higher than the amounts that were notified to you, we will charge the higher amount for future billing months after we have notified you of the error.
3.63.7 If any payment for Digital Bullion (including any pre-payment) or any required personal information is not received by us by an applicable deadline, the quoted price of the Digital Bullion may increase according to market fluctuations, and you will be required to pay us the difference in order to take physical delivery.
3.73.8 Please see clause A 8 for information regarding making payments.
C 4. TRANSFERS
4.1 In respect of any Digital Bullion held in your Metal Account, you can at any time take delivery of the physical bullion Product it represents, at which point legal title and risk in the physical bullion Product passes to you. Where you take a delivery of physical bullion Product that is an amount of whole troy ounces, you can collect it from us, or we can deliver it to you. Alternatively, you can either sell it to us, or use it as payment (in full or in part) for another Product or service.
4.2 However, because physical bullion Products are denominated in troy ounces, where you take delivery of an amount of Digital bullion Products that results in your ownership of a fraction of a physical bullion Product, you will become an owner in common of that Physical bullion Product. Because you are a co-owner of the Physical bullion Product, rather than the sole owner, in this case you cannot take delivery of the physical bullion Product to an address you specify. Rather, you can either sell it to us or use it as payment (in full or in part) for another Product or service.
4.24.3 Please note that and then:
4.2.1 if you immediately use the physical bullion Product towards payment (in full or in part) of another Product or service you wish to purchase from us, then this transaction is carried out with immediate effect after you take delivery. As such, If you do this with immediate effect, the value of your physical bullion Product will be the same as the Digital Bullion price at the time you take delivery. 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.
Please note that the terms of the relevant Product or service you purchase shall also apply to your purchase.;
4.2.24.3.1 request collection of your Digital Bullion in accordance with clause C 5; and/or
4.3.2 if you sell your physical bullion Product to us, then this transaction is carried out with immediate effect and so. If you do this with immediate effect, the value of your physical bullion Product will be the same as the Digital Bullion price at the time you take delivery. Section E: Terms for Buying Products Selling to Chards shall apply to your sale of physical bullion Product to us.
4.2.34.3.3 if you collect your physical bullion Product from us or we deliver it to you, this will be in accordance with clause C 5.
4.34.4 Physical bullion Products are denominated in troy ounces. As such, where you take delivery of an amount of Digital bullion Products that results in your ownership of a fraction of a Physical bullion Product, you will become an owner in common of that Physical bullion Product. You agree that, where this is the case, you will not collect the affected Physical bullion Product, but rather shall either store it, sell it to us or use it as payment (in full or in part) for another Product or service.
4.5 You can select which of the above options you wish to use 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.
4.4 The minimum residual amount of Digital Bullion you may retain in your Metal Account shall be at least 0.0010 oz of gold or silver.
C 5. COLLECTION
5.1 You can collect your physical bullion Product in person from our showroom, or we will send it to an address you provide in the UK or overseas, in which case our Delivery Fees will apply (on which, see clauses A 8.8 and 8.9).
5.2 You can collect your physical bullion product at any time, provided you give us at least 30 days’ notice by email, post or by telephone and we have received payment from you in full of any fees due to us.
SECTION D: VAULTED STORAGE
D 1. INTRODUCTION
1.1 You may choose to use our vaulted storage services in respect of bullion grade precious metal (“Stored Products”) on an allocated and segregated basis.
1.2 You may either:
1.2.1 at the time of purchasing a Product request that it be held by us as a Stored Product; or
1.2.2 deliver eligible asset(s) to us to be held as Stored Product(s), however, we reserve the right, at our sole discretion, not to agree to store any asset or Product (and shall not incur any liability as a consequence).
1.3 If you make delivery of an eligible asset(s) to us, you will need to make delivery to our showroom or to such other location as we may agree in writing. You may be required to sign an inventory specifying the description and condition of the relevant asset(s) at the time they are delivered to us.
D 2. STORAGE
2.1 Subject to clauses D 2.2 and D 2.3, all Stored Products will be:
2.1.1 stored in one of our dedicated strong rooms in the United Kingdom; and
2.1.2 identifiable as belonging to you.
2.2 If we agree with you to store your Stored Products overseas, they will be stored with one of our trusted third-party partners in vaulted storage.
2.3 Access to our strong rooms and safes are restricted to authorised personnel only. We reserve the right to conduct audits of any Stored Products in our possession or under our control (annually and at any other times as we reasonably require) and to grant our professional advisers with access to your Stored Products for the purpose of carrying out any such audit.
D 3. LEGAL TITLE
3.1 Legal title to your Stored Products (subject to clause A 12) shall remain with you at all times (as between you and Chards).
D 4. THE FEES
4.1 Fees are payable for storing Stored Products are calculated (exclusive of any VAT that may be applicable) on a monthly basis, calculated as the higher of:
£10 + VAT (if applicable)
or
Value of Stored Products x relevant percentage / 12 + VAT (if applicable)
where:
4.1.1 the value of Stored Products shall be calculated by multiplying the weight in grams of the Stored Products by the average price per gram. The average price per gram shall be calculated by adding the highest and lowest price per gram for a Stored Product (according to the live price feed on the Website) during the 30-day period immediately before the invoice date and dividing this amount by 2;
4.1.2 the relevant percentage shall be as advertised on the storage page of our Website at the time you place your order , as calculated in ounces to 4 decimal places.
4.2 Fees will vary each month in line with variations to the value of the Stored Products. The first billing month (which may not be a complete calendar month) shall commence on the date we take delivery of the Stored Products and on the 1st of the next month, and thereafter subsequent billing months shall commence on the 1st of each month. Fees payable for the first two billing months will be invoiced on or around the start of the second billing month. The fees for each subsequent billing month will be invoiced on or around the start of that month.
4.3 If you place an order for the provision of services in respect of Products not purchased from us, we reserve the right to charge an additional valuation and administration fee of £60 (exclusive of VAT if applicable) which shall be payable when you place your order for our storage services. We may also need to amend the way we calculate our fees if we do not offer for sale the type of Product you wish to store with us.
4.4 Additional fees may be payable, for example if you request storage overseas, and/or if you request your Stored Products to be returned to you.
4.5 If you require overseas storage, in addition to the fees calculated in accordance with clause D 4.1, you shall also be liable to pay an additional sum to reflect the third party storage costs incurred by Chards, administrative costs and associated delivery charges. Such sum shall be notified to you in advance you using our storage services. However, if the third party costs incurred by Chards in respect of the overseas storage of the Stored Products increases, Chards shall be entitled to immediately pass such increase on to you by way of an immediate increase to the monthly fees.
4.6 If you withdraw Stored Products from us, our Delivery Fees will apply, on which see clauses A 8.8 and 8.9.
4.7 After termination of a contract for storage with us, you will continue to be liable for storage fees until the time at which you take delivery of your Stored Products. You will also be liable for our Delivery Fees if on termination you request us to deliver your Stored Products to you or to a person on your behalf (on which see clauses A 8.8 and 8.9). We take all reasonable care to ensure that the fees for storage are correct at the time at which they are notified to you. However, it is always possible that, despite our reasonable efforts, the fees we notify to you may be incorrect. We shall notify you of any mistake as soon as possible. If the correct fees are less than the amounts that were notified to you, we will charge the lower amount for future billing months. If the correct fees are higher than the amounts that were notified to you, we will charge the higher amount for future billing months after we have notified you of the error.
D 5. TAKING STORED PRODUCTS OUT OF STORAGE
5.1 Subject to paying any fees due to us, you may request the return of any of your Stored Products at any time, and either collect it from our showroom, or we will deliver it to you in accordance with clause A 10, and subject to your payment of any applicable Delivery Fees (on which see clauses A 8.8).
5.2 We reserve the right to withhold the release of your Stored Products until:
5.2.1 all fees, Delivery Fees and other charges payable by you in respect of those Stored Products have been received by us in cleared funds;
5.2.2 we have received adequate proof of identification; and
5.2.3 you have completed any other due diligence checks we require to ensure you are the owner of the Stored Products (such as by only allowing delivery to your billing address).
5.3 If you take any Stored Product out of storage with us, you shall be deemed to have served notice to terminate your agreement for storage with us in respect of that Stored Product unless you notify us otherwise in writing. If you do not wish to terminate your agreement with us in respect of a Stored Product, we reserve the right to charge an administration and valuation fee when you place that Stored Product back into storage, charged at a cost of £60 per hour (excluding VAT if applicable), with a minimum payment of £60 excluding VAT if applicable.
5.4 Once your Stored Products have been delivered to you, if you then wish to place those Stored Products back in storage with us, you shall be responsible for arranging their return to us (or to the international storage location agreed with us) at your own cost.
SECTION E: SELLING TO CHARDS
E 1. INTRODUCTION
1.1 We may at our sole discretion agree to purchase from you any gold, silver, platinum, palladium, brass, copper or other precious metal or base metal goods (including UK coins, bars and medallions) or jewellery products or any other similar goods you wish to sell to us (all together “Goods”).
1.2 In order to sell Goods to us, you need to:
1.2.1 inform us of the Goods you wish to sell to us by delivering the Goods to our showroom in accordance with clause E 2.
1.2.2 complete our sell form (the “Sell to Chards Form”) (available here) and include this with your Goods.
E 2. DELIVERY
2.1 In order to sell Goods to us, you must deliver the Goods to our showroom:
2.1.1 by hand;
2.1.2 using an insured courier or Royal Mail Special Delivery ; or
2.1.3 in tamper proof packaging which has been issued by us to you in accordance with clause E 2.4 (the “Chards Packaging”), in which case we shall arrange for the Goods to be collected from you.
2.2 We strongly recommend that:
2.2.1 Goods are delivered in batches of less than £20,000, if they are delivered in Chards Packaging (if eligible, on which see clause E 2.4 onwards below) or using Royal Mail Special Delivery;
2.2.2 if you are using a delivery service, you ensure that the Goods are insured up to their value; or
2.2.3 they are brought into the showroom.
2.3 You are responsible for:
2.3.1 ensuring that the Goods are properly packed and secured in such manner as to enable them to reach our showroom in good condition; and
2.3.2 (as applicable) our Delivery Fees (on which see clauses A 8.8 and 8.9) or the costs you incur in you arranging delivery of the Goods to our showroom.
CHARDS PACKAGING
2.4 Chards Packaging shall only be available for either (i) bullion Goods and (ii) other Goods that we agree with you at our sole discretion.
2.5 If you wish to use Chards Packaging, you need to inform us via telephone and provide a description of the Goods and address for collection of the Goods. We shall inform you of the date and time for collection of the Goods via email or via telephone.
2.6 Delivery of the Goods shall occur on collection of the Goods by our courier from the agreed address.
2.7 We will purchase insurance to cover loss of Goods during transit up to the lower of (i) the value of the Goods (based on the metal value of the Goods as determined by us from your description of the Goods); (ii) (in relation to kilo bars of gold or silver only) a maximum value of £60,000 per parcel; or (iii) (in relation to other Goods) a maximum value of £20,000 per parcel. Our total liability in respect of any loss of Goods during transit will be limited to any amounts received from the insurer under such insurance, which we shall pass on to you in accordance with clause A 7.4. This insurance does not cover any damage to the Goods caused during transit.
2.82.7 You shall be liable to pay us our Delivery Fees (on which see clauses A 8.8 and 8.9) if using Chards Packaging.
2.92.8 If we issue a confirmation that we are prepared to purchase the Goods from you (the “Purchase Confirmation”) and you accept such Purchase Confirmation, our Delivery Fees shall be deducted from the price at which we purchase the Goods (the “Purchase Price”). In all other cases, you must pay our Delivery Fees to us in full prior to our return of the Goods to you.
DELIVERY SERVICE
2.102.9 If you arrange delivery of Goods to us using a delivery service, you must ensure that each delivery of the Goods is accompanied by:
2.10.12.9.1 a Sell to Chards Form or a covering letter specifying your contact details, the type and quantity of Goods you are seeking to sell, and your payment details; and
2.10.22.9.2 a delivery note which specifies: (i) any special storage or handling instructions; (ii) if the Goods are being delivered by instalments and, if so, the outstanding balance of Goods remaining to be delivered; and (iii) whether you require us to return any packaging material to you. The return of any such packaging material will be subject to your payment of the relevant Delivery Fees at your cost.
2.112.10 In order to receive delivery of Goods such as jewellery, you may be also asked on delivery to provide proof of ownership in the form of a receipt or an insurance valuation for the Goods.
2.122.11 Where you use a delivery service, delivery of the Goods shall occur when a Chards' staff member signs to accept delivery of the Goods at the showroom. If you choose to use standard postal delivery or another non-signed for service, it shall be your responsibility to prove the Goods have been received by us.
DELIVERY BY HAND
2.132.12 If you deliver the Goods in person, delivery of the Goods shall occur upon your handing over the Goods to us at the showroom and us issuing you with a delivery receipt. No delivery receipt will be issued if you are not required to leave the Goods with us for Inspection (on which, see clause E 3).
LIABILITY FOR DELIVERY
2.142.13 We accept no liability whatsoever:
2.14.12.13.1 for any damage to the Goods which occurs during transit to the showroom (regardless of the delivery method chosen); or
2.14.22.13.2 for any Goods which are lost or stolen during transit to the showroom. However, where a delivery is made using except in relation to Chards Packaging, and we receive an insurance pay-out for loss of the Goods, to the extent that, in accordance with clause E 2.7 except and solely to the extent that we receive an insurance pay-out in relation to such, in which case we will pass the amount of the pay-out to you in accordance with clause A 7.4.
E 3. INSPECTION
3.1 On receipt of Goods from you, we shall weigh and inspect the Goods to check they conform with the specifications set out in the Sell to Chards Form (the “Inspection”) and to determine the Purchase Price.
3.2 If the Goods have been delivered in person and you remain present for the Inspection, the Inspection will be conducted in front of you where practicable. If this is not practicable or where you are not present for the Inspection (including where the Goods have been sent by post to us) the Inspection will be conducted under a camera and will be filmed.
3.3 In some cases, it may not be practicable to conduct the Inspection at the time you arrive at the showroom due to unavailability of a specialist valuer or otherwise. In particular, jewellery products may need to be left with us for later Inspection. In such a case, we may at our discretion agree that you shall be given the option to leave the Goods with us for Inspection at a later date.
3.4 If Goods are not hallmarked (such as in the case of jewellery), then you must pay a fee (as agreed with us before Inspection) for Inspection. Otherwise, and in relation to other Goods, you must pay us a fee of £60 per hour (excluding VAT if applicable), including a minimum fee of £15 (excluding VAT if applicable), for Inspection. Such fee shall be deducted from the Purchase Price payable by us or (if you decide not to sell the Goods or if they are not genuine) must be paid to us, using any of the methods set out in clause A8, prior to us returning the Goods.
3.5 If expressly requested by you, we may conduct acid testing as part of the Inspection process. You acknowledge and accept that such acid testing may damage the Goods causing a reduction in the value of the Goods. In no circumstances shall we be liable for any loss or damage to the Goods whatsoever caused by acid testing undertaken at your request.
3.6 We may be required to clean the Goods during the Inspection (particularly jewellery products and coins). You acknowledge and accept that such cleaning may damage the Goods causing a reduction in value to the Goods, for example by loosening the stone settings in jewellery products. In no circumstances shall we be liable for any loss or damage to the Goods whatsoever caused by us cleaning the Goods for the purpose of Inspection.
3.7 If, following Inspection we, determine that the Goods are:
3.7.1 of a different specification to that set out in the Sell to Chards Form, we will provide you with a revised offer for the Goods, which you may then accept or reject at your discretion (and if you reject our offer the Goods shall then be returned to you or may be collected by you).
3.7.2 not genuine, we shall notify you in writing or verbally. The Goods shall then be returned to you or may be collected by you.
3.8 If we return Goods to you, our Delivery Fee will (on which, see clauses A 8.8 and 8.9) apply and any Goods over the value of £60 shall be insured in accordance with clause A 10. If you do not wish to collect or take delivery of Goods, we agree to dispose of the Goods for you at no cost.
E 4. PURCHASE CONFIRMATIONS
4.1 Following an Inspection, we shall inform you whether we wish to purchase any Goods which have passed Inspection (the “Inspected Goods”) and, if so, the Purchase Price we are willing to pay for them. Nothing in these Terms shall impose an obligation on us to issue a Purchase Confirmation and/or to purchase any Goods from you, nor any obligation on you to accept any Purchase Confirmation from us.
4.2 If we wish to issue a Purchase Confirmation, we shall inform you in writing. If we agree orally to issue you with a Purchase Confirmation, we shall use reasonable endeavours to send you the Purchase Confirmation in writing within two Working Days of such oral agreement.
4.3 The Purchase Confirmation shall specify the type and quantity of the Inspected Goods we wish to purchase, together with the proposed Purchase Price. The Purchase Confirmation constitutes an offer by us to purchase Goods in accordance with these Terms and shall remain valid and capable of acceptance for 2 Working Days (the “Acceptance Period”).
4.4 If you do not accept any Purchase Confirmation within the Acceptance Period, we may at our discretion issue a revised Purchase Confirmation for the Goods and amend the Purchase Price and/or charge an administration fee for issuing the new Purchase Confirmation. If we issue a revised Purchase Confirmation, the Acceptance Period shall restart from the date of the new Purchase Confirmation. If we do not issue a revised Purchase Confirmation, the Goods shall be returned to or collected by you.
4.5 We may, without incurring any liability to you, at any time prior to your acceptance of a Purchase Confirmation, amend or cancel the Purchase Confirmation by informing you.
4.6 A Purchase Confirmation shall be deemed to be accepted by you on the earlier of: (a) you issuing a written or verbal acceptance of the Purchase Confirmation; and (b) you doing any act consistent with accepting the Purchase Confirmation. At this point you and we shall be bound to the Purchase Confirmation, and it cannot be cancelled or amended without the prior consent of you and us. We may resell the Goods as soon as you have accepted a Purchase Confirmation.
4.7 We shall inform you verbally or in writing if we decide not to issue a Purchase Confirmation and you shall inform us verbally or in writing in if you decide not to accept a Purchase Confirmation or otherwise withdraw the offer to sell the Goods. In each case, the Goods shall be returned to or collected by you. If we return Goods to you, our Delivery Charges will apply (on which see clauses A 8.8 and 8.9), and any Goods over the value of £60 shall be insured.
E 5. PURCHASE PRICE
5.1 We shall inform you of the Purchase Price at the time of issuing the Purchase Confirmation. The Purchase Price shall be determined by us in our absolute discretion.
5.2 In relation to bullion Goods, you may telephone us in advance of delivery of the Goods to us (or, if you are using Chards Packaging, the date when the Goods are collected by our courier), and we may at our discretion agree and obtain a fixed metal price with you, which we will then use to value the Goods, which price being based on the live UK rate at the time of such telephone call or date of collection (as applicable), we will honour this rate upon receipt of the Goods, provided the Goods are as described by you and: (i) are received by us within 24 hours of the rate being fixed by telephone or (ii) if you are using Chards Packaging, the Goods are collected by our courier on the agreed date. If the Goods are not received within such period or, if you are using Chards Packaging, our courier is not able to collect the Goods on the agreed date, we may elect, in our sole discretion, require you to agree to a revised price for selling us the Goods if you wish to proceed with selling them to us, and such revised price will use the fixed metal price or the live rate at the time of opening the parcel on the day of receipt. If we agree with you a new rate following agreement of a fixed rate, we may, in our sole discretion, as part of our revised price include an administration fee for such rate alteration.
5.3 The Purchase Price will be reduced if the Goods are (in our sole opinion) marked, damaged, worn or are not as described, by such amount, as in our view, reflects the difference in value of the Goods.
5.4 Unless agreed otherwise, the Purchase Price excludes any VAT, which we shall additionally be liable to pay to you at the prevailing rate, subject to the receipt of a valid VAT invoice from you. No additional charges shall be payable by us unless agreed in writing with you. In particular, we shall not be liable to reimburse you for any sums paid by you in respect of insurance, packaging and/or delivery.
E 6. RECEIVING PAYMENT
6.1 Unless we agree otherwise with you, payment by us shall be in GBP. You may elect to receive payment for the Goods: (i) by bank transfer or CHAPS transfer to the bank account specified by you in writing; (ii) by cheque addressed to you; or (iii) in cash. These payment methods are subject to the following:
6.1.1 payments other than in USD, GBP or EUR may incur an additional charge to cover our costs of converting into GBP.
6.1.2 we may in our sole discretion decline to make payment by CHAPS (and we shall not be required to provide reasons for doing so);
6.1.3 payment by CHAPS will incur a £20 fee which shall be deducted from the Purchase Price;
6.1.4 if you request payment in cash, you must provide photographic personal identification and attend the showroom in person on such date and time directed by us in order to receive the cash; and
6.1.5 payment in cash may be subject to a fee, determined at our sole discretion, which shall be a percentage of the Purchase Price.
6.2 We shall inform you at the time of issuing the Purchase Confirmation when payment for the Goods shall be made.
6.3 We may at our sole discretion make payment in instalments. We shall inform you at the time of issuing the Purchase Confirmation whether payment is to be made in instalments, specifying the number of instalments to be made and the respective payment dates.
6.4 If we mistakenly pay you more than the Purchase Price for the Goods (due to a human error, system malfunction or otherwise), you shall immediately refund to us (using the same payment method) such overpayment upon becoming aware of the same (whether notified by us or otherwise).
6.5 We may, without limiting any other rights or remedies we may have, set off any amounts owed to us by you for whatever reason against any amounts payable by us to you.
E 7. RETURNS
7.1 If we inform you following Inspection that the Goods are not genuine or not as described, or we otherwise decide not to issue a Purchase Confirmation, or you decide not to sell the Goods to us (either by choosing not to accept a Purchase Confirmation or by failing to accept a Purchase Confirmation within the Acceptance Period), you shall pay us a fee to cover our administrative costs (e.g. for providing the Inspection) and Delivery Fees (on which see clauses A 8.8 and 8.9) (all together, the “Return Cost”). The Return Cost must be paid by you in full (using one of the methods set out at clause A 8) before we will return the Goods to you.
7.2 Alternatively, you may collect the Goods from the showroom within five Working Days of a determination that you will not agree a Purchase Confirmation with us. If you collect the Goods, you must bring the proof of postage or the delivery receipt (as applicable), as well as any other information we may require to confirm your identity.
7.3 If, within 28 days of being required to do so, you fail to pay the Return Cost (and any other outstanding sums owed to us) or fail to collect the Goods, we shall store the Goods for a maximum period of 6 months, at your cost. If the Goods are still in our possession following this 6 month period, we shall be entitled, we shall convert them into Digital Bullion and store them in accordance with (and subject to the fees set out in) Section C: Metal Account Terms.without incurring liability to you, to dispose of the Goods (including by selling the Goods to a third party), and to use the proceeds of such sale to settle any fees owed to us.
E 8. LEGAL TITLE
8.1 Legal title to the Goods shall transfer to us as soon as you accept a Purchase Confirmation for the Goods (including over the telephone).
8.2 If the Goods have not been purchased by us, but remain in our possession following the 6 month period referred to in clause E 7.3, legal title to the Goods shall from that point immediately transfer to us.
E 9. RISK
9.1 Where you use a delivery service or deliver the Goods in person, risk in the Goods shall remain with you until completion of delivery to us in accordance with clause E 2 above. In any event, if you deliver the Goods by hand and you are not required to leave the Goods with us for Inspection, risk in the Goods shall remain with you whilst the Goods are at the showroom.
9.2 Where you use Chards Packaging, we will pass to you any insurance pay-out we receive (on which see clauses E 2.7). However, we accept no further liability whatsoever for any loss or damage, and you take the risk of any loss or damage not covered by the insurance pay-out we receive, until we receive the Goods from our courier.
9.3 In respect of any Goods that are not genuine, or which we do not wish to purchase, or which you choose not to sell to us (including by not accepting a Purchase Confirmation within the Acceptance Period), risk in those Goods shall transfer back to you upon the earliest of: (i) receipt of the Goods by you; (ii) you collecting the Goods; (iii) five Working Days following us informing you that we do not wish to issue a Purchase Confirmation or you informing us that you do not wish to accept the Purchase Confirmation (as applicable); or (iv) five Working Days after the Acceptance Period has lapsed.
9.4 If the Goods are lost or damaged during delivery from us back to you, we shall submit a claim to the courier service or the insurer and shall pass on any sums received by us to you, but otherwise we accept no liability whatsoever for any such loss or damage.
E 10. WARRANTIES
10.1 You hereby warrant, represent and undertake that in respect of any Goods delivered to us for sale:
10.1.1 you have full legal and beneficial title to and are entitled to sell the Goods;
10.1.2 the Goods do not, and use of them shall not, infringe the intellectual property rights, moral rights or other proprietary rights of any third party; and
10.1.3 on delivery, the Goods shall: (i) conform with your description of them; (ii) be free from material defects in design, material and workmanship; (iii) be of satisfactory quality (within the meaning of the Sale of Goods Act 1979, as amended); and (iv) comply with all applicable statutory and regulatory requirements.
SECTION F: CRYPTOASSET STORAGE TERMS
F 1. INTRODUCTION
1.1 We can arrange cryptoasset storage on your behalf with insured UK crypto-custodian(s) who have full registration with the Financial Conduct Authority to act as a custodian wallet provider. Where we do so, cryptoassets are categorised as Investment Products.
1.2 We can arrange storage of the following cryptoassets: BTC (on the UTXO network), ETH and USDC (both on the ERC0-20 network), and other various ERC-20 tokens as we may agree with you from time to timeupon request. We reserve the right to add to or remove from the range of cryptoassets we support without providing prior notice. If we cease to support a particular cryptoasset, we will use reasonable endeavours to provide you with prior written notice, and to enable you to transfer out your holdings in the affected cryptoasset.
1.3 Please note that we do not: provide any form of advice in relation to cryptoassets; assess whether dealing in cryptoassets is an appropriate or suitable investment for you; provide or facilitate exchange services in relation to cryptoassets; provide accounting, legal or tax advice; value cryptoassets; vote on, lend or stake cryptoassets; or administer any blockchain.
F 2. LIMITS
2.1 We can impose limits on the value or volume of cryptoassets you may store. Where we inform you of such a limit, it is your responsibility to ensure that you comply with it. Any limits may be changed by us from time to time by notifying you by email.
F 3. TRANSFERRING CRYPTOASSETS AND HOW YOUR CRYPTOASSETS ARE HELD
3.1 To transfer cryptoassets to and from us we recommend you scan a QR code of your account rather than manually entering the account number where possible, to reduce the likelihood of you entering incorrect account information.
3.2 When sending cryptoassets you accept full responsibility for ensuring that you send all payments to the correct address using the procedures we require you to follow, and that a failure to do so may result in you sending cryptoassets to the wrong person. In such a scenario, you may not be able to get back your cryptoassets and we shall have no obligation to complete the relevant transfer and / or make a refund to you.
3.3 Where we arrange for cryptoassets to be held for you, legal title in those cryptoassets (subject to clause A 12) shall remain with you at all times (as between you and Chards).
3.4 Access to your cryptoassets is restricted to authorised personnel only.
3.5 You may request the return of any of your cryptoassets at any time, subject to payment of any applicable fees, and your agreement with us under these Terms shall be deemed terminated in relation to any cryptoassets returned to you. We reserve the right to withhold the release of your cryptoassets until all fees payable by you in respect of them have been received by us in cleared funds.
3.6 When receiving cryptoassets it is solely your responsibility to ensure that you provide us with correct details of your wallet and for ensuring that this wallet can receive the cryptoassets we return to you. If there are any deficiencies in the wallet you use for these purposes, or if your wallet is compromised, then we are not liable for any loss as a consequence.
3.7 Upon termination of your agreement with us under these Terms (in whole or part) for any reason, subject to payment of all outstanding fees in full, we will return your cryptoassets back to you.
F 4. FEES
4.1 Fees shall be charged on a monthly basis. The first billing month (which may not be a complete calendar month) shall commence on the date you first instruct us to arrange the storage of the relevant cryptoassets and each subsequent billing month shall commence on the 1st of the month.
4.2 Fees payable for each month will be the higher of:
£50 + VAT (if applicable)
or
Value of stored cryptoassets x 1% / 12 + VAT (if applicable)
where the value of stored cryptoassets shall be calculated by reference to the value attributed to them on Crypto Coin Comparison Ltd (trading as CryptoCompare), or using such other independent index or valuation agent as we may select acting reasonably.
4.3 Fees are inclusive exclusive of any VAT that may be applicable.
4.4 We take all reasonable care to ensure that fees are correct at the time at which they are notified to you. However, it is always possible that, despite our reasonable efforts, the fees we notify to you may be incorrect. We shall notify you of any mistake as soon as possible. If the correct fees are less than the amounts that were notified to you, we will charge the lower amount for future billing months. If the correct fees are higher than the amounts that were notified to you, we will charge the higher amount for future billing months after we have notified you of the error.
F 5. AUDIT
5.1 We reserve the right to conduct audits of any cryptoassets for which we are arranging safeguarding (annually and at any other times as we reasonably require) and to grant our professional advisers with such access as may be beneficial for the purpose of carrying out any such audit.
F 6. SECURITY INTERESTS
6.1 You may not transfer, assign, charge, create a lien or other security interest over, or otherwise encumber, your cryptoassets stored under these Terms. You must not try or agree to do so or allow any third party to do so in relation to any of your cryptoassets held via our services, and you may not grant anyone else any rights in or over your cryptoassets stored under these Terms.
F 7. RISKS
7.1 By accepting these Terms, you represent that you understand and accept the risks inherent in dealing in cryptoassets, some of which are set out in Schedule 1, and that we are not liable should they materialise.
SCHEDULE 1: CRYPTOASSET RISKS
DEALING IN CRYPTOASSETS INVOLVES A HIGH DEGREE OF RISK, AND, THEREFORE, SHOULD BE UNDERTAKEN ONLY IF YOU ARE CAPABLE OF EVALUATING THE RISKS INVOLVED AND ABLE TO BEAR THE RISK OF A COMPLETE LOSS OF ALL CAPITAL USED TO DEAL IN CRYPTOASSETS.
YOU SHOULD CAREFULLY CONSIDER THE RISKS DESCRIBED BELOW AND CONSULT WITH YOUR PROFESSIONAL ADVISORS BEFORE DEALING IN CRYPTOASSETS. DIFFERENT CRYPTOASSETS MAY HAVE UNIQUE FEATURES WHICH MAY MAKE THEM MORE OR LESS LIKELY TO FLUCTUATE IN VALUE. IT SHOULD BE NOTED THAT THE LIST OF RISK FACTORS DESCRIBED BELOW IS NOT INTENDED TO BE EXHAUSTIVE AND DOES NOT NECESSARILY INCLUDE ALL THE RISKS TO WHICH YOU MAY BE EXPOSED WHEN DEALING IN CRYPTOASSETS.
NONE OF THE INFORMATION PRESENTED IN THIS SCHEDULE 1 IS INTENDED TO FORM THE BASIS FOR ANY INVESTMENT DECISION, NO SPECIFIC RECOMMENDATIONS ARE INTENDED, AND THERE HAS NOT BEEN ANY CONSIDERATION AS TO WHETHER CRYPTOASSETS ARE A SUITABLE OR AN APPROPRIATE THING FOR YOU TO HOLD. WE EXPRESSLY DISCLAIM ANY AND ALL RESPONSIBILITY FOR ANY LOSS ARISING FROM: (I) RELIANCE ON ANY INFORMATION CONTAINED IN THIS SCHEDULE 1, OR (II) ANY ERROR, OMISSION OR INACCURACY IN SUCH INFORMATION.
By holding in cryptoassets using our services, you acknowledge and assume the following risks, which we shall not be liable for should they materialise:
Custody risk
Although we partner with insured UK crypto-custodian(s) who have either full or temporary registration with the Financial Conduct Authority to act as a custodian wallet provider, there is still a risk that they are compromised or lose your cryptoassets, and there is no guarantee they will be able to compensate for any resulting financial loss. Any loss or shortfall in the assets held may be shared between you and other clients of the custodian(s) we use, based on the size of your and their holdings. There may also be a delay in returning cryptoassets if an insolvency occurs.
Risks in dealing in cryptoassets
Cryptoassets are a new asset class and as such represent a high-risk investment. Risks include but are not limited to: hacking, fraud, glitches, regulatory changes, abandonment of a cryptoasset, volatility, information asymmetry, general economic risks, and unanticipated changes. The value and liquidity of cryptoassets may be subject to large fluctuations, and is affected, for example, by legislative and regulatory changes, and the willingness of market participants to participate. In addition, fraud or cyber-attacks can result in technical difficulties which could prevent the access to your cryptoassets. It is your responsibility to familiarise yourself with the risks of any cryptoasset(s) you deal in.
Blockchain risks
Cryptoassets are generally reliant on at least one blockchain protocol, any malfunction, breakdown or abandonment of a protocol may have a material adverse effect on cryptoassets reliant on it. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to cryptoassets by rendering ineffective the cryptographic consensus mechanism that underpins the relevant protocol(s). We do not own or control the underlying software protocols which govern the operation of cryptoassets. We are not responsible for the operation of the underlying protocols and we cannot guarantee their functionality, security, or ongoing availability. You acknowledge and accept the risk that underlying software protocols relating to your cryptoassets may change or cease to be available.
Hackers or other malicious groups or organizations may attempt to interfere with cryptoassets in a variety of ways, including malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing, as well as attacks which overpower the consensus-based mechanism on which the blockchain is built and attacks which interfere with or otherwise cause nodes to malfunction (nodes are computers / hardware devices that help maintain the blockchain).
Forks and airdrops
The underlying protocols of cryptoassets may be subject to potentially substantial changes in operating rules which may materially affect them (including, but not limited to, their value or function). The changes (sometimes called “Forks”) may take the form of (i) “hard” Forks, whereby a cryptoasset is split into two new cryptoassets (e.g. thereum split into ETC and ETH); or (ii) “soft” Forks, whereby code is updated but no new cryptoasset is created. We have the right, but no obligation, to support any Fork on your behalf at our sole discretion, and we do not accept any liability as a result of any decision we take. Also, if and when Forks occur, we may need to temporarily suspend some or all aspects of our services in response to that Fork without providing advance notice to you.
Our services are available only in connection with the cryptoassets we support. Where you receive an unsupported cryptoasset, for example through an unsolicited cryptoassets distributions known as an “airdrop”, you may not be able to withdraw, access or otherwise deal with such cryptoasset.
Regulatory risks
Regulation of cryptoassets and underlying blockchain technologies is currently still being developed and likely to rapidly evolve. Regulation varies significantly between different jurisdictions and is subject to significant uncertainty. Regulators may in the future adopt laws, regulations, guidance or other actions that may severely impact the development, attractiveness and / or value of cryptoassets. This could result in a variety of adverse consequences and reduce the value of cryptoassets.
General economic risks
Please be aware that the value of cryptoassets can fall as well as rise. The prices of cryptoassets have historically been subject to dramatic fluctuations and are highly volatile. A decrease in the price of a single cryptoasset may cause volatility in the entire cryptoasset industry and may affect other cryptoassets. Such volatility may result in a significant loss over a short period of time. Past performance is not a guide to the future performance of cryptoassets.
Unanticipated risks
Cryptoassets are built on relatively new and untested technology. In addition to the risks included in this Schedule 1, there may be other risks associated with your dealing in cryptoassets, including those that we cannot reasonably foresee. Additional risks may also materialize as unanticipated variations or combinations of the risks discussed above.
SCHEDULE 2: CANCELLATION FORM
To Chard (1964) Limited:
Address: 32-36 Harrowside, Blackpool, FY4 1RJ, United Kingdom
Email: [email protected]
I/We [*] hereby give notice that I/We [*] cancel my/our [*] contract of sale of the following services,
Ordered on [*],
Name of consumer(s),
Address of consumer(s),
Signature of consumer(s) (only if this form is notified on paper),
Date
[*] Delete as appropriate.