Terms of Service
Use of website
- The website has restricted areas and unrestricted areas. Restricted areas are for Clients that have opened an account with GoldGuard and unrestricted areas are informational platforms.
- Upon registration you will gain access to restricted areas of GoldGuard, you will agree to this Terms Of Service referred to “TOS” and accept this TOS will apply every time the account is utilized.
- GoldGuard will not check your identity every time the account is opened and is entitled to believe that all activity in the account is authorized by the Client in whose name the account is in.
- You accept that it is your responsibility to safeguard your username and password.
- Access to GoldGuard may vary without prior notice. All reasonable efforts will be made to allow uninterrupted access but we cannot guarantee any unforeseen interruptions.
- You confirm that you will only use GoldGuard for the purposes as outlined in these Terms of Service and agree to not interfere or mismanage data or software associated with the website.
Website content and accuracy
- All content and associated material on the website is the property of GoldGuard. By accessing the GoldGuard website, you accept that you will only use GoldGuard for the purposes outlined in these TOS and will not replicate or attempt to modify any associated data or software without the prior written permission of GoldGuard.
- All content has been researched extensively by GoldGuard, however, we do not take responsibility for any misrepresentation or inaccuracies in data provided. The content was written based on available information and with the best intention. We do not assume liability, nor do any of our information providers for any errors and omissions in the content.
- GoldGuard does not undertake any obligation to update information.
- All content is based on personal interpretation and does not act as financial guidance on any transactions. You endeavor to make your own informed financial decisions through your own investigations and if you are unsure about anything to then seek professional expert advice.
- GoldGuard will not be liable for any delays, disturbances or unavailability of the website. You appreciate that we run an online platform that could be subject to technical difficulties that are not in our control.
- You must be 18 years and over to be eligible to open an account with GoldGuard.
- All personal information given to GoldGuard must be true. If there is any suspicion that your personal details are untrue then we reserve the right to close or disable the account.
- If you change your personal information you must inform GoldGuard. We will not be held responsible for any miscommunication nor misconduct for lack of knowledge of current information.
- We warrant that we will not reveal your identity to third parties unless we are under any legal obligation to do so. You agree not to make attempts to establish the identity of any of our customers.
- You accept that funds can be deposited into your GoldGuard account via bank transfer and that your bank will be expected to adopt standard banking procedures on any incoming payments to GoldGuard such as providing your bank name, account name, bank account number, and your GoldGuard reference number.
- We are not accountable for any delays or errors you make in booking transactions by your designated banks in the process of making bank transfers to GoldGuard. If your funds are sent to the wrong account by mistake we will not be held responsible to recover or redirect the funds to the correct account. This is also applicable to the time of terminating your GoldGuard account.
- There is no set limit for a minimum deposit, you can deposit your preferred amount.
- All bank transfers must be done in USD or EUR. GoldGuard will not be liable for any foreign exchange charges.
- If depositing more than 50,000 USD/EUR, we reserve the right to request further documentation from you and/or your bank.
- There will be no loading charges from GoldGuard and we are not responsible for any fees your account holding bank may charge.
- You may purchase Gold through the GoldGuard Platform in accordance with this Agreement by way of payments made with currency from a personal authorized bank account, virtual currency wallet, debit or credit card, in your own name which you have linked to your GoldGuard Personal or Business Account.
- In certain circumstances, GoldGuard may be required to reject a wire sent to it and will be unable to settle a purchase of Gold as instructed. This may happen if the details you provide are insufficient, the receiving institution cannot be identified, or the currency is not one of the currencies accepted by GoldGuard from time to time.
- Incoming wire transfers will be rejected if they are sent from a third party or from a bank in a country which GoldGuard, in its discretion, deems to pose a high risk.
- When you place an order to buy gold, it will be a live transaction. At the time of purchase, you will be charged the spot rate.
- We use a third-party API for gold spot price. You accept that GoldGuard is not responsible for the changes nor the accuracy of the data provided by the third party API. Please refer to section 2.0. Website Content and Accuracy for further clarification.
- In order to complete your purchase request, there must be sufficient funds in your GoldGuard account to cover the entire cost or the order will not be processed.
- GoldGuard does not advise on transactions, all transactions are at your own risk. We shall not be liable for any loss, damage or debt to the client arising directly or indirectly from this agreement or any transaction.
- You cannot cancel your order or reverse your order once it has been processed.
- Under no circumstance will GoldGuard make payments or lend money to our clients to enable purchasing of gold.
- You take responsibility to keep a regular check on your trading history to ensure that it equates to your transactions, verifying there are no unauthorized dealings that have occurred in your GoldGuard account. You must notify us of any unrecognized activity within 30 days of any unknown transactions.
Storing gold, Fees, and Insurance
- The gold bullion will be stored in high-security vaults on behalf of the Client by GoldGuard.
- The Client will not have access to their purchased gold or to the vaults. However, audit reports will be available to Clients.
- GoldGuard agrees to pay the fees to cover the costs of storage and insurance for your Gold as long as you remain a customer of GoldGuard pursuant to this Agreement.
- You authorize us to act as Bailee on your behalf and to provide instructions to the Vault Operator and insurance company in such capacity.
- GoldGuard offers free storage of Gold up to 1,000g per Personal or Business Account, determined at all times in GoldGuard’s sole discretion.
- Once a GoldGuard User has reached the limit of 1,000g in their Personal or Business Account, the User shall be charged 0.01%-0.015% fee of the total gold holding.
- GoldGuard will ensure your bullion is insured against theft and damage according to the accepted insurance standards of the bullion industry. GoldGuard confirms to you that, in each storage agreement, the Vault Operator agrees to provide GoldGuard with documentary evidence of insurance. You can request documentary evidence of insurance for your bullion by contacting Customer Care.
- Gold cannot be sold, transferred, loaned, leveraged, allocated to any third party or any such other action that would put at risk the gold reserve.
- GoldGuard will buy back any gold that you want to sell in a live spot transaction minus any costs incurred in the sale such as broker commissions, 10% standard withdrawal fee, or any other fees associated to the transaction.
- GoldGuard will credit the sale in your Personal or Business Account immediately, but title to the assets will transfer to GoldGuard when funds are credited to you. The bank details for the wire transfer must be in the same name as the account holder or business and bank transfer fees will be deducted from the transfer amount.
Closing the account
- You can terminate your account at any time with no penalty charges. Please contact Customer Care for assistance.
- Upon your GoldGuard Personal or Business Account closure, we will cancel any pending transactions, unless otherwise legally prohibited. Prior to closing your GoldGuard Personal or Business Account, you must sell the gold in your account to us, subject to the terms mentioned in the above Selling Gold clause.
- You may not close your GoldGuard Personal or Business Account to evade an investigation. If you attempt to close your GoldGuard Personal or Business Account while we are conducting an investigation, we may suspend your GoldGuard Personal or Business Account for up to 180 Days to protect GoldGuard against the risk of reversals, Chargebacks, claims, fees, fines, penalties and other liability or until such time we deem it safe to resume the account status to active.
- You will remain liable for all obligations related to your GoldGuard Personal or Business Account even after the GoldGuard Personal or Business Account is closed. Any accrued rights, remedies, obligations and liabilities of the parties as at termination shall not be affected, including the right to claim damages in respect of any breach of the Agreement which existed at or before the date of termination. Any clauses of this Agreement which expressly or by implication have effect after termination shall continue in full force and effect.
Account suspension and closure
- In the case of breach of security and/or GoldGuard believes there is a risk to GoldGuard as a company or to your account we reserve the right to suspend or close any account without prior notice, but this will not be at the cost of your assets unless
those assets were ascertained through fraudulent, illegal or unethical practices. The company in this instance will suspend the account and conduct a thorough investigation. All findings will be presented to the account within a reasonable space of time, typically not exceeding 6 months.
- The Terms of Service document is an important part of a business relationship. It forms the basis of security, confidence, and understanding. It is therefore subject to amendments from time to time to better the service provided to clients
- GoldGuard reserves the right to make amendments without any consent or prior warning.
- Charges applicable to your account will be agreed with you before entering into any transaction and will be shown on the statement sent to you.
- Charges may be changed from time to time without prior notice to you.
- GoldGuard has taken necessary measures to employ safe technology but cannot protect from third party interception in the form of bugs and viruses or advanced technical interference.
- The website may incorporate links to external platforms that are not under the control of GoldGuard. We do not take responsibility for third party website actions and representations.
- You agree that we are entitled to communicate with you by e-mail and/or secure notification through our Website.
- Clients can contact GoldGuard through firstname.lastname@example.org.
- All notifications and other communications to you will be sent to the e-mail address that you provided to us at the time of registration. We will not be liable for any errors or changes in contact information provided by you.
In certain exceptional circumstances, GoldGuard FZCO may refund payments.
In such cases, the funds will be refunded to a verified Bank Account in the name of the account holder.
1. The Client has the right to close his/her account at any time he/she wishes to. The Company will approve the account closure if:
a. There are no active buy gold request placed.
b. There are no investigations underway associated with any of the terms of the current Terms of Services.
2. The Client must complete the gold redemption form and sign the completed document which is emailed to email@example.com
3. The Client must provide a proof of purchase document to submit along with the gold redemption form.
4. Fiat withdrawals can only be made to the account holder and as such the bank account must be in the same name. Please note that bank wire transfer charges will be deducted from the transfer amount.
5. If the KYC documents are older than 6 months then we will require fresh KYC documents that are no older than 3 months old.
6. If the account of the Client has been suspended due to the violation of the current Terms of Services or due to any other abuse detected by the Client, the refund will not be processed.
7. A refund request can be made in cases in which the account had been deposited into, but no orders were executed by the client.
8. The refund will be for the full amount, sent only to the account holder’s verified bank account.
9. Processing of refund requests can take up to 4 weeks providing the necessary requirements are satisfied.
10. Withdrawals from trading accounts which have never had any active trades on them, will be charged at a 10% fee to cover the processing costs.
If you have any questions about this Policy do not hesitate to contact us by E-mail: firstname.lastname@example.org
Please note: Due to fraud prevention and anti-money laundering laws, accounts which have never traded are unable to withdraw funds within 30 working days of dormancy.
Limitation of liability
- Nothing in this Agreement excludes or limits the liability of GoldGuard for death, personal injury, fraud, or fraudulent misrepresentation. Subject to the above, in no event shall we (including for greater certainty, our affiliates), and the officers, directors, agents, employees, and suppliers of GoldGuard (including for greater certainty, our affiliates) be liable for lost profits or any special, incidental, indirect, or consequential, or punitive damages (including without limitation damages for loss of data or loss of business) arising out of or in connection with our website, the services, or this Agreement (however arising, including negligence), unless and to the extent prohibited by law. Our liability (including for greater certainty, our affiliates), and our (and their respective) officers, directors, agents, employees, and suppliers, to you or any third parties in any circumstance is limited to the actual amount of direct damages. In addition, to the extent permitted by applicable law, GoldGuard (including for greater certainty, our affiliates), and our (and their respective) officers, directors, agents, employees, and suppliers are not liable, and you agree not to hold these parties responsible, for any damages or losses (including, but not limited to, loss of money, goodwill, reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from: (a) your use of or your inability to use the GoldGuard Website or GoldGuard Services; (b) delays or disruptions in GoldGuard’s sites and GoldGuard Services; (c) viruses or other malicious software obtained by accessing the GoldGuard Website or GoldGuard Services or any website or service linked to the GoldGuard Website or GoldGuard Services; (d) glitches, bugs, errors, or inaccuracies of any kind in or on the GoldGuard Website or GoldGuard Services or in the information and graphics obtained from them; (e) the content, actions, or inactions of third parties; (f) a suspension or other action taken with respect to your GoldGuard Personal or Business Account; (g) any loss as a result of risks associated with online trading, including software and hardware failure latent defect, loss of data, delays, failure, errors, omissions, or losses of transmitted information or instructions, power outages, internet failure, hackers, denial of service (DoS) attacks, viruses, or other contaminating or destructive properties; (h) for any fees, duties, taxes, or loss as a result of theft or any other loss of Gold after it has been removed from the Vault at your request for delivery or collection; (i) information sent over the internet may not be completely secure and the internet and related online systems may not function at all times. We are not responsible for any loss or damages you may incur if a third party obtains access to your confidential information transmitted over the Internet or if you are temporarily unable to determine your balance on the GoldGuard Platform; (j) your need to modify practices, content, or behavior, or your loss of or inability to do business as a result of changes to this Agreement or GoldGuard’s policies. GoldGuard reserves the right to modify its policies and this Agreement at any time consistent with the provisions outlined herein. GoldGuard will not be in breach of this Agreement or otherwise liable for any loss suffered or incurred as a result of any delay in performance or any non-performance of any obligations under this Agreement (and, where relevant, the time for performance will be extended accordingly) if and to the extent that the delay or non-performance is owing to Force Majeure or neglect, serious fault or willful misconduct on the part of you including any failure to keep your Password secure and any failure to comply with this Agreement or associated policies.
- GoldGuard, its employees, and its suppliers provide the GoldGuard Services “as is” and without any warranty or condition, express or implied, or statutory. GoldGuard, its employees, and its suppliers specifically disclaim any implied warranties of title, merchantability, fitness for a particular purpose, and non-infringement. GoldGuard does not have any control over the products or services that are paid for with the GoldGuard Services and GoldGuard cannot ensure that a buyer or a seller you are dealing with will actually complete the transaction or is authorized to do so. You are responsible for conducting appropriate due diligence on parties with whom you choose to deal and you accept that GoldGuard does not accept liability for any fraudulent or misleading actions of parties to whom you make and from whom you receive transfer. GoldGuard does not guarantee continuous, uninterrupted or secure access to any part of the GoldGuard Platform, and operation of our site may be interfered with by numerous factors outside of our control. GoldGuard will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts and credit cards are processed in a timely manner but GoldGuard makes no representations or warranties regarding the amount of time needed to complete processing because the GoldGuard Services are dependent upon many factors outside of our control, including for example, delays in the banking system. To the extent that the State in which you reside does not permit the disclaimer of implied warranties, the foregoing disclaimers may not apply to you. This section gives you specific legal rights and you may also have other legal rights that vary from State to State. This clause shall survive termination of the Agreement or closure of your GoldGuard Personal or Business Account.
- Neither party shall be in breach of this Agreement nor liable for delay in performing, or failure to perform, any of its obligations under this Agreement if such delay or failure result from events, circumstances or causes beyond its reasonable control. In such circumstances, the affected party shall be entitled to a reasonable extension of the time for performing such obligations. If the period of delay or non-performance continues 6 months, if the GoldGuard User is not affected, he or she may terminate this Agreement by closing his or her GoldGuard Personal or Business Account and thereby terminating this Agreement.
- In the case of market distortion, volatile markets, systems (including third party systems upon which GoldGuard is reliant) being hacked, and market disruption, GoldGuard reserves the right to adjust an order if the metal and currency quotes received from GoldGuard’s data source, when the order was placed, is found to be incorrect. GoldGuard will contact you if an order needs to be adjusted due to incorrect market data, and you may cancel the order if you do not want to trade on the corrected market rate.
- This Agreement shall be governed and construed in accordance with the laws of the DIFC (Dubai International Financial Centre).
- Our failure to act with respect to a breach by you or others does not waive our right to act with respect to subsequent or similar breaches.
- You indemnify to hold GoldGuard and its officers, directors, agents, servants, and employees harmless from any and all liabilities, losses, suits, claims, judgments, fines, penalties, demands or expenses, including (but not limited to) all reasonable costs for defense and investigation thereof (including but not limited to attorneys’ fees, court costs, and expert fees).
Assumption of Rights
- If GoldGuard pays out a claim, reversal or Chargeback that you file against a recipient of your transfer, you agree that GoldGuard assumes your rights against the recipient and third parties related to the transfer, and may pursue those rights directly or on your behalf, at GoldGuard’s discretion.
Release of GoldGuard
- If you have a dispute with one or more users, you release GoldGuard (and our officers, directors, agents, and employees) from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes.
Death or incapacity
- If you die or otherwise become incapacitated, we will take instructions in respect of your GoldGuard Personal or Business Account from your authorized executor or administrator upon delivery to us of sufficient proof of authority of such executor or administrator and the documentation as requested.
Right of set-off
- You shall be under an obligation to pay all amounts due under this Agreement in full without any deduction or withholding except as required by law and you shall not be entitled to assert any credit, set-off, or counterclaim against GoldGuard in order to justify withholding or disputing payment of any such amount in whole or in part. GoldGuard may, without limiting its other rights or remedies, set-off any amount owing to it (or to any of its affiliates) by you against any amount payable by GoldGuard to you.
- This Agreement, along with any applicable policies and agreements on the Legal Agreements page on the GoldGuard Website, sets forth the entire understanding between you and GoldGuard with respect to the Services. In the event any provision (or part of any provision) of this Agreement shall for any reason be held by a court or any other competent authority to be invalid, illegal, or unenforceable, that provision, to the extent required, shall be deemed deleted and the remaining provisions shall remain valid and enforceable.
Rights of third parties
- A person who is not a party to this Agreement shall not have any rights under or in connection with it.
No agency or partnership
- Except as otherwise expressly provided for in this Agreement, nothing in this Agreement is intended to, or shall be deemed to, constitute a partnership or joint venture of any kind between any of the parties, nor constitute any party the agent of another party for any purpose. No party shall have authority to act as agent for, or to bind, the other party in any way.
Void where prohibited
- Although the GoldGuard Website is accessible worldwide, not all features, products or services discussed, referenced, provided or offered through or on the GoldGuard Website are available to all persons or in all geographic locations, or appropriate or available for use outside of the United Arab Emirates. GoldGuard reserves the right to limit, in its sole discretion, the provision and quantity of any feature, product or service to any person or geographic area. Any offer for any feature, product or service made on the GoldGuard Website is void where prohibited. If you choose to access the GoldGuard Website from outside Canada, you do so on your own initiative and you are solely responsible for complying with applicable local laws.