Digital Gold Terms & Conditions

Last Updated: 08^th  September, 2021

DIGITAL GOLD 

TERMS AND CONDITIONS

1. INTRODUCTION

THIS DOCUMENT IS AN ELECTRONIC RECORD IN TERMS OF THE INFORMATION TECHNOLOGY ACT, 2000 AND RULES THEREUNDER AS APPLICABLE AND THE PROVISIONS PERTAINING TO ELECTRONIC RECORDS IN VARIOUS STATUTES AS AMENDED BY THE INFORMATION TECHNOLOGY ACT, 2000. THIS ELECTRONIC RECORD IS GENERATED BY A COMPUTER SYSTEM AND DOES NOT REQUIRE ANY PHYSICAL OR DIGITAL SIGNATURES.

THIS DOCUMENT IS PUBLISHED IN ACCORDANCE WITH THE PROVISIONS OF RULE 3(1) OF THE INFORMATION TECHNOLOGY (INTERMEDIARIES GUIDELINES) RULES, 2011 THAT REQUIRES PUBLISHING THE RULES AND REGULATIONS, PRIVACY POLICY AND TERMS OF USE FOR ACCESS OR USAGE OF THE PLATFORM.

The terms (“Terms”) govern the purchase and sale of digital gold from SafeGold facilitated through the online platforms – www.fisdom.com (“Fisdom Website”), and the iOS and Android mobile application – “Fisdom” (“App”). Finwizard Technology Services Private Limited will provide Digital Gold product on the Platform (defined below) which is owned and operated by Finwizard Technology Private Limited, a private limited company incorporated under the Companies Act, 2013 with its registered office at Queens Paradise, 1st Floor, Curve Road Shivajinagar, Bangalore- 560052, Karnataka, India (“Fisdom”).

Subject to the foregoing, this Terms shall be read in conjunction with the General Terms and Conditions of the Platform, shall govern your access and use of the Platform with respect to the SafeGold Services available on the Platform.

2. SERVICES BY SAFEGOLD

Fisdom provides a technology facilitation service to Digital Gold India Private Limited, a company incorporated under the Companies Act, 2013 with its registered office at 1902 Tower B, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai, Maharashtra 400013, (“SafeGold“) to offer gold for sale, delivery and repurchase and other related services of safe keeping/vaulting to the Customers under SafeGold’s brand name  (hereinafter referred to as the “Services”). As used herein “You”. “Your” and “User” shall mean any person who accesses or uses the Platform to avail the Services.

Fisdom is only a technology platform service provider to SafeGold. 

2.1 ACCOUNT ON THE PLATFORM

1. You represent and warrant that you:

1. are at least 18 years old; 

2. competent to form a binding contract under the Indian Contract Act, 1872; 

3. have not previously been suspended or removed from using Fisdom’s Services and/or the Platform or any part thereof. 

2. For Transacting through the Platform in accordance with these Terms, you authorize and request Fisdom to create an account with the Website through the Platform (“Account”), on your behalf, prior to Transacting through the Platform. As part of the registration process, you will be required to provide certain information and details, including your mobile number, an e-mail id, password and any other information deemed necessary by SafeGold / Fisdom from time to time.

3. You understand and agree to provide the necessary information and documents as per the Know Your Customer (“KYC”) guidelines and/or any other applicable guidelines issued under applicable laws, as may be specified from time to time. Currently, you are required to provide the following details:

Customer information required for purchase of Gold	Details
up to 10 gm	Name and verified mobile number
10 gm but up to 50 gm	Proof of Identity
Gold exceeding 50 gm	PAN

4. You further understand that you are responsible for maintaining the confidentiality and security of your Account including log-in details and the password. Activities and Transactions that occur in or through your Account will be considered your instructions by Fisdom. 

5. You represent and warrant that all information, data and document provide by you (i) for creating of the Account; and/or (ii) through your Account are true, correct, accurate and up to date. In the event of any change, you agree to update the details on the Account in a prompt and swift manner.

3. DEFINITIONS 

For the purpose of these Terms, wherever the context so requires, the term:

1. “Customer” or “you” shall mean any individual, who as the counterparty transacts using the Platform for buying Gold from SafeGold, taking delivery of Gold and/or selling back the Gold to SafeGold, as outlined in these Terms.
2. “Gold” means either: (i) 995 pure 24 karat gold offered to the retail Customers under Digigold’s brand “SafeGold” or (ii) 999 or 999.9 pure 24 karat gold offered to the retail Customers under Digigold’s brand “SafeGold”; as shall have been mutually agreed from time to time.
3. “Customer Request” shall mean a delivery request, sale request or exchange request placed by you in relation to the Customer Gold.
4. “Force Majeure Event” shall mean any event that is beyond the reasonable control of Fisdom and/or SafeGold and shall include, without limitation, sabotage, fire, flood, explosion, act of God, civil commotion, strikes, lockouts or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, civil disturbances, unauthorised access to computer data and storage device, computer crashes, virus attacks, breach of security and encryption, and any other similar events not within the control of Fisdom and/or SafeGold and which Fisdom and/or SafeGold is not able to overcome.
5. “Person” shall mean an individual, a corporation, a partnership, a joint venture, a trust, an unincorporated organization and any other legal entity.
6. “Transaction or Transact” means buying Gold from SafeGold, taking delivery of Gold and/or selling back the Gold to SafeGold, as outlined in these Terms
7. “Platform” means collectively: (i) the Website; and (ii) Fisdom Website and App.
8. “Website” shall mean the domain name www.safegold.com owned and operated by SafeGold.

In addition to the terms defined above, additional terms used herein shall have the respective meanings assigned thereto in the relevant sections contained hereinafter.

4. USER ACKNOWLEDGEMENTS

You, as a Customer, acknowledge, understand and agree that:

1. Fisdom is merely enabling you to avail the Services from SafeGold. 

2. Fisdom assumes no liability for the Services except for providing payment services and Customer assistance in addressing the preliminary queries related to the Services.

3. Subject to the foregoing, any and all the Transactions relating to the Services are being rendered by SafeGold in association with the Intermediaries (namely the Custodian and Vault Keeper) with whom separate agreements have been entered by SafeGold.

4. SafeGold and/or Fisdom do not guarantee any returns, on any transactions consummated vis-à-vis the Platform, to any person, either directly or indirectly. 

5. You further acknowledge and agree that SafeGold and/or Fisdom and its officers, directors, employees, agents and affiliates will have no liability for your purchase or other decisions using the Account and the same have been made by you after due consideration and risk analysis.

6. Fisdom/SafeGold may revise these Terms from time-to-time and it is your responsibility to view the Platform to check such updates.

7. The Services by SafeGold shall be provided for a term commencing from the date of acceptance of the Terms.

8. You acknowledge and accept that the Services are for Customer’s personal use.

9. That the Services are being provided and made available on an “AS IS” and “AS AVAILABLE” basis. The Platform may contain errors or inaccuracies that could cause failures, corruption or loss of data and/or information from your device and from peripherals (including, without limitation, servers and computers) connected thereto. You assume all risks and costs associated with your use of the Services, including without limitation, any costs incurred for the use of your device and any damage to any equipment, software or data.

5. SECURITY TRUSTEE, INTERMEDIARIES, SAFE KEEPING AND STORAGE ARRANGEMENT

1. Appointment of Intermediaries

SafeGold may from time to time appoint intermediaries who shall assist SafeGold in providing the Services to you. The term, “Intermediaries” shall mean the Security Trustee, Vault Keeper and shall include any and all Persons appointed by SafeGold or by individuals/entities as authorised by SafeGold (as the case may be) upon placement of a Customer Request (and successful payment of monies in lieu thereof) till the consummation of the Customer Requests placed by you in accordance with these Terms. You hereby consent to the appointment of such Intermediaries, for and on your behalf, by SafeGold or the Custodian (as the case may be).

1. You acknowledge and understand that these Intermediaries have been appointed to ensure that your Customer Orders/Customer Requests are duly complied with in accordance with these Terms. 

2. You additionally acknowledge that certain payments will have to be made to these Intermediaries for their appointment and services in relation thereto, which shall be borne by SafeGold on your behalf unless otherwise indicated in these Terms.

2. Appointment of Security Trustee

1. Currently, Brink’s India Private Limited., has been appointed by SafeGold as a Custodian.

2. You hereby acknowledge and agree that in order to ensure that your Customer Orders/Customer Requests are fulfilled in all circumstances, a first and exclusive charge on the Customer Gold  by way of hypothecation will be created in favour of Custodian or any successor Person (“Security Trustee”).

3. By accepting these Terms, you further agree to accede to the terms for such arrangement with the Custodian (i.e., a Custodian Agreement) and for creation of the charge over the Customer Gold  by way of a deed of hypothecation or the like (collectively, “Custodian Agreements”). By accepting to this Terms, you acknowledge that you will accede to the Custodian Agreements (upon such date) as if you had been named as an original party to the same and had executed each of such Custodian Agreements; and will be bound by all the terms and conditions of the Custodian Agreements.

4. In the event of any expenses or charges remaining payable to any Intermediaries or otherwise till actual delivery or fulfilment of any of your /Customer Requests for any reason, including where SafeGold is unable to pay these expenses or charges for any reason whatsoever, thereby adversely effecting or jeopardizing the fulfilment of your / Customer Requests, then the Custodian will be entitled to sell part of the Customer Gold  and satisfy such outstanding expenses or charges as required.

5. The sums due to you and/or gold to be delivered (as the case may be), after settling the aforementioned charges, would be dealt with in accordance with these Terms read with the Custodian Agreements. By way of these Terms, you authorize the Custodian to act on your behalf to ensure that your interests are adequately protected.

3. Safe Keeping/Vaulting of Gold

1. Gold purchased by you corresponding to the Customer Request shall be stored with a Custodian in a vault on your behalf (“Vault Keeper”). Currently, IDBI Trusteeship Services Limited (IDBI) is the Vault Keeper.

2. You hereby authorize (i) appointment of such Vault Keeper to safe keep the gold purchased; and (ii) SafeGold to store such gold products purchased by you, including, but not limited to, bullion, coins or jewellery (as the case may be) in the secured vault on your behalf (“Customer Gold ”). 

3. It is hereby clarified that your purchase of the Gold shall be deemed to be completed and title in relation thereto shall be deemed to have been passed upon such relevant portion of the Customer Gold being stored in the vault with the Vault Keeper on your behalf or upon a final invoice being issued by SafeGold in accordance with these Terms, subject to applicable laws.

4. To ensure that the Customer Gold stored in such vault is adequately protected, necessary insurance policy/ies has been obtained by the Vault Keeper, where the cost of insurance to safe keep the same will be borne by the Vault Keeper. Pursuant to such insurance policy/ies, for any loss or damage to the Customer Gold stored in the vault, you further authorize the Custodian to act as your beneficiary under the insurance policy/ies and to take all steps necessary to protect your interests.

5. While the Vault Keeper has taken the necessary insurance policy/ies, in case of occurrence of an event not covered in such insurance policy/ies, the Customer Gold may be at risk. The insurance policy/ies obtained by the Vault Keeper are in line with the global industry practices and cover losses due to fire, lightning, theft, cyclone, earthquake, flood, etc. but do not cover losses due to events such as war, revolution, derelict weapons of war, nuclear radiation, etc.

6. STORAGE PERIOD FOR DIGITAL GOLD

1. You are required to take delivery of your Customer Gold within such maximum period as shall be specified for this purpose by SafeGold from time to time in the Pricing and Fees section (“Maximum Storage Period”). 

2. For the purposes of making delivery to you, you are required to provide a valid address and/or any other documents/information that may be specified in this regard by Fisdom and/or SafeGold on the Platform. 

3. You may provide such address at any time during the Maximum Storage Period. In the event that no valid address has been provided by you during the Maximum Storage Period or the documents so provided become redundant during the said period, then Fisdom and/or SafeGold shall for a period 1 (one) year commencing from the date of expiry of Maximum Storage Period (such period being the “Grace Period”) attempt at least once to contact you, using the contact information provided by you to obtain either (i) an address to which you would require the gold in question to be delivered or (ii) your bank account details into which sale proceeds of the Customer Gold  shall be deposited. In the event that Fisdom and/or SafeGold has not been able to contact you during the applicable Grace Period using the contact information provided by you or where you shall during the Grace Period either fail to:

1. take delivery of the gold in question for any reason whosoever (including where you shall not have provided any address to take delivery of such Gold); or

2. provide the details for a valid bank account into which the proceeds of any sale of such Customer Gold is to be deposited;

4. Upon expiry of the applicable Grace Period for the Customer Gold in question, SafeGold shall purchase such Customer Gold with the purchase price being the applicable prevailing price displayed on the Platform for purchase of gold from Customers. The purchase proceeds realized from such sale (“Final Sale Proceeds”) after deducting any amounts payable to SafeGold as storage charges for storage of such gold after the Free Storage Period, shall be deposited into a no-lien bank account operated by the Custodian who shall be the sole signatory to such bank account. 

5. In the event that you shall during a period of three (3) years commencing from the date of expiry of the applicable Grace Period (such period being the “Final Claim Period”) notify either Fisdom, SafeGold and/or the Custodian that you are claiming the applicable Final Sale Proceeds, the Custodian shall issue suitable instructions to transfer the Final Sale Proceeds to such bank account as you shall notify for this purpose. Please note that to claim the Final Sale Proceeds, you will be required to provide details of a valid bank account and that the Final Sale Proceeds will not be transferred in the absence of such details. You may also be required to provide additional documents and information for Know Your Customer requirements as per the extant laws at the time of taking delivery.

6. At no time will the Final Sale Proceeds be paid to you in cash. 

7. In the event that you shall not claim your Final Sale Proceeds within the Final Claim Period, then the Final Sale Proceeds shall be transferred to the Prime Minister’s Relief Fund or such other fund as you may designate for this purpose at any time prior to the expiry of the Grace Period.

7. KNOW YOUR CUSTOMER REQUIREMENT

1. Fisdom and/or SafeGold reserves the right to terminate any Account, with or without notice to you, in the event the KYC documents / information are found to be incorrect or authenticity of the documents / information is found to be doubtful. You hereby undertake to indemnify and keep indemnified Fisdom against any and all losses, claims, liabilities costs etc. which arise out of or relating to your failure to identify yourself and validate your account promptly and / or due to incorrect KYC documents / information.

2. Know your Customer (KYC) and Verification:

1. On receipt of such documentation and other information as provided by you, you shall be entitled to place an order on the Platform (“Customer Order”).

2. You agree that your continued use of the Platform, consequent upon the creation of the Account, is subject to verification by SafeGold / Fisdom, of the information and documentation provided by you. You hereby grant Fisdom permission to conduct such verification, in such form and manner as it may deem fit.

3. You further acknowledge that SafeGold / Fisdom reserves the right for such verification either on registration of the Customer Account or at any time thereafter.

3. Subject to these Terms and the Privacy Policy, you hereby grant to Fisdom a non-exclusive, worldwide, royalty-free right to (i) collect, store and transmit your data, in each case solely to the extent necessary to provide the Services to you, and (ii) share your data or interact with other people, to distribute and publicly perform and display your data as you direct or enable through the Services. Fisdom may share your data with SafeGold, who, in turn, may share your data with the Custodians required to fulfil their obligations as a Security Trustee and/or Vault Keeper. 

8. PURCHASE OF GOLD

1. In consonance with SafeGold’s policy, Customer can buy Gold worth Rs.1.00 (Rupee One Only) and above incremental value thereof at the market linked prices of Gold shown on the Platform. Market linked prices are the quotes linked to the prices of gold in the commercial bullion market in India.

2. It is hereby clarified that such market linked prices of Gold shall constitute fully binding offers and would be an invitation to offer to purchase Gold at the said market prices to all Customers. 

3. Notwithstanding the foregoing, you understand that these prices may vary multiple times within a day, and accordingly your payment obligations for any order will depend on the market linked prices prevailing at that particular time. While reasonable efforts will be made to offer you a competitive price for the Gold, there is no guarantee that the price offered to you will be close to or comparable with other prices available in the market.

4. Once the payments are received by Fisdom and the KYC information is found acceptable, SafeGold shall issue an invoice to you confirming the Customer Order placed within a period of 3 (Three) business days of placing such order, in a manner it may deem fit.

5. Notwithstanding anything to the contrary contained in these Terms, Fisdom and/or SafeGold shall be entitled to accept or reject a Customer Request, for any reason whatsoever, at its sole discretion.

6. In case of rejection of a Customer Order in accordance with these Terms, where payments have been received by Fisdom, such payments shall be returned to you to the bank account linked to your Account, subject to the pricing mechanism as mentioned on the Pricing and Fee section of the Terms. 

9. DELIVERY OF GOLD

1. As per the policy of SafeGold, the Platform offers Services for Customers who wish to procure delivery of the Customer Gold from SafeGold in accordance with the terms of the Platform.

2. You shall be entitled to procure delivery of the Customer Gold using the Platform (“Delivery Request”).

3. Upon placing the Delivery Request, you shall be required to pay for the applicable charges and confirm the Delivery Request. Your Account shall be provisionally debited corresponding to the quantity of the Customer Gold sought to be delivered (“Delivered Customer Gold”).

4. Within a period of 7 (Seven) business days of the Delivery Request being confirmed or such further period as may be required by SafeGold, SafeGold shall arrange for delivery of the Delivered Customer Gold at the shipping address indicated by you. You shall be solely responsible for ensuring that the correct address is furnished by you on the Platform for processing such Delivery Request. You shall not be entitled to change the shipping address after the Delivery Request is processed by SafeGold.

5. You should carefully examine the package delivered and shall not accept deliveries where the packaging has been tampered with. If, however, you are of the view that the package delivered has been tampered with, you shall be required to intimate Fisdom immediately of the same, and provide such other information as may be required by Fisdom in this regard (“Return Request”). Within a period of 10 (Ten) business days of Return Request being placed (with the original package of Delivered Customer Gold  being delivered to SafeGold, in a manner indicated by SafeGold), and the same being approved by SafeGold, SafeGold shall arrange for re-delivery of the Delivered Customer Gold at the shipping address indicated by you. The costs for such shipping shall be borne by SafeGold alone, and not by you. However, in the event of frivolous and unjustified Return Requests made by you, Fisdom and/or SafeGold reserve the right to take all action available to it, including black-listing or blocking you from using the Services.

6. You, upon signing the delivery receipt, acknowledge the receipt of the Delivered Customer Gold in terms of the Delivery Request placed with SafeGold. Fisdom and/or SafeGold shall not be liable to you for any refund/replacement, under any circumstance, for any subsequent complaints with respect to such deliveries and/or any failure on your part (as the case may be) to comply with the Terms.

7. Upon receipt of the Delivery Request by Fisdom, the Account shall be debited for the Delivered Customer Gold from the Customer Account.

8. It shall be your responsibility to ensure that you are available to receive the Delivered Customer Gold at the time of delivery. If you are not available at the time of delivery, SafeGold courier agent may try and deliver the item again before returning the same to SafeGold. In case of return of the Delivered Customer Gold to SafeGold, Account shall be credited for the Delivered Customer Gold, after deducting the charges (if any) due from you, provided however that SafeGold is of the opinion that the packaging has not been tampered with. It is hereby clarified that should a request for re-delivery be made by you, you shall be solely liable to incur the applicable charges for delivering the Delivered Customer Gold.

9. In case of SafeGold’s inability to make deliveries of Delivered Customer Gold due to a Force Majeure Event, SafeGold shall intimate you of the same and may require that the deliveries be effectuated through specific modes. In such a case, you hereby agree to bear any additional costs and fees necessary for the delivery to be complete.

10. SafeGold will not be able to deliver a fractional quantity of gold below such threshold as SafeGold shall notify for this purpose even if a Customer Request is made for such fractional quantity (“Threshold Quantity”). You are advised to check the Platform periodically to determine the Threshold Quantity as the same may be revised from time to time. In the event that any Gold below the Threshold Quantity is to be delivered to you, then please note that such Customer Gold  shall instead be sold by SafeGold, based on the sale prices displayed on the Platform and you will instead receive the applicable sale proceeds in your bank account, details of which shall be provided by you. If there is any mistake in the account number provided by you, Fisdom and/or SafeGold would not be held responsible for the same.

11. Notwithstanding anything to the contrary contained in these Terms, Fisdom / SafeGold shall be entitled to reject a Customer Request which is not in compliance with the Terms and shall intimate the Customer of the reasons for the same.

12. It is hereby clarified that the Customer Gold cannot be pledged or transferred by you to any other user, and the Customer account is non-transferrable, unless specifically allowed by SafeGold and Fisdom. In the event of death, if specifically allowed by SafeGold and Fisdom, the title to such Customer Gold lying in the vault and the Account shall transfer to your legal heirs only after the required due diligence has been conducted. Subsequent to this, your legal heir(s) shall be regarded as the Customer for the purpose of the Customer Gold and Account thereafter and the Terms shall be applicable to your legal heir(s).

13. Due to reasons not directly attributable to SafeGold or Fisdom, data may be inaccurately displayed on the Platform due to some system errors on the Platform. Fisdom / SafeGold reserves the right to correct any and all errors when they do occur, at its sole discretion, and Fisdom or SafeGold shall be entitled to not honour any requests/orders placed by you based on any inaccurate or erroneous prices.

14. The prices quoted on the Platform are fixed and non-negotiable. The prices on the Platform are also subject to change without notice.

10. SELL THE CUSTOMER GOLD 

1. As per the terms of the Platform, you may be provided an option to sell the Customer Gold during market hours based on the sale prices on the Platform. If the prices are found acceptable to you, you shall confirm the sale request, in a form and manner acceptable to Fisdom (“Sale Request”). Your Account shall be debited corresponding to the quantity of the Customer Gold sought to be sold vide the Sale Request (“Sold Customer Gold”).

2. Within a period of 5 (Five) business days of the Sale Request being confirmed or such further period as may be required, the payment, pursuant to the Sale Request, shall be disbursed by Fisdom at the sale prices indicated at the time of placing such Sale Request.

3. Fisdom shall arrange for such payments to be made to your bank account, details of which shall provided by you. If there is any mistake in the account number provided by you, Fisdom or SafeGold would not be held responsible for the same.

4. It is hereby clarified that SafeGold and/or Fisdom will provide this service on a best effort basis and only when the commercial bullion market is in operation. SafeGold and Fisdom do not in any way guarantee that this option will be available to you at all times. 

5. The buyer of the Sold Customer Gold may be either SafeGold or another party (being interested in buying the Sold Customer Gold). Fisdom and/or SafeGold shall not be held liable for any actions of such third-party purchaser.

6. You will be provided with free storage for your Customer Gold for such period as more particularly stipulated by SafeGold in this regard from time to time at its sole discretion and notified to Customers in the Pricing and Fees (“Free Storage Period”). Currently, secure storage of Gold is free for the first two years. After that, SafeGold may levy a charge of up to 0.03% per month of the Customer’s gold balance at the end of each month till the maximum storage period of 7 years is completed. Thereafter, a Customer will have to sell their gold or take delivery.

7. After the expiry of the Free Storage Period, SafeGold shall be entitled to levy storage charges for such Customer Gold at such rate as would be specified in the Pricing and Fees on the Platform / Website. The charges would be levied by deducting the gold balance at the end of each month by a percentage amount at the specified rate. You are advised to periodically check the Pricing and Fees section of the Website to understand these storage charges. In the event, SafeGold is not able to deduct the storage charges because your gold balance is too low, then SafeGold shall be entitled to sell such portion of your Customer Gold stored with the Vault Keeper that is necessary or required to recover the unpaid storage charges in question.

11. SUSPENSION/CLOSURE OF ACCOUNT

Fisdom may suspend your Account:

1. If there appears to be a fraudulent or suspicious activity in the Account either by you or any third party. In the event of any suspected suspicious activities, you may inform Fisdom with 10 (ten) days of occurrence of such activity. 

2. If arrangement between SafeGold and Fisdom is terminated or Fisdom decides to discontinue the relationship with SafeGold. In such an event, your gold balance may be accessible through the Website and Fisdom shall provide you reasonable assistance to access your account on the Website.

12. TERMINATION OF SERVICES BY FISDOM VIS-À-VIS SAFEGOLD

1. Fisdom and/or SafeGold, in its sole discretion, may modify, suspend, or terminate access to the Services or may require the Platform to modify, suspend, or terminate access to the Services or any part thereof of the Platform or your ability to access any Services through the Platform, at any time and for any reason, including termination for breach of any of these Terms or occurrence of a Customer EoD or the Privacy Policy. The term “Customer EoD” shall mean any default by a Customer of its obligations owed to the Security Trustee, under the Custodian Agreements provided that for the purposes of enforcing the hypothecation created by you in favour of the Security Trustee, the Custodian would be required to first obtain a suitable order / direction passed in its favour from a competent judicial or statutory authority having jurisdiction in the matter.

2.  These Terms shall further stand terminated:

1. if SafeGold is adjudged bankrupt or declared insolvent;

2. if SafeGold ceases to carry on its business or has communicated to the Custodian any intention to cease to carry on its business;
3. if SafeGold breaches any of the terms and conditions under the Custodian Agreements or Terms and SafeGold does not remedy such breach within 60 (Sixty) days of being called upon to do so by the Security Trustee;
4. upon any corporate action (excluding any third party corporate action), legal proceedings or other procedures or steps being taken in relation to the suspension of payments, winding up, dissolution, administration, provisional supervision or reorganization or restructuring (by way of voluntary arrangement, scheme of arrangement or otherwise) of SafeGold;
5. upon SafeGold commencing a voluntary proceeding under any applicable bankruptcy, insolvency, winding up or other similar applicable law now or hereafter in effect, or consenting to the entry of an order for relief in an involuntary proceeding under any such applicable law, or consenting to the appointment or taking possession by a receiver, liquidator, assignee (or similar official) for the whole or a substantial part of its property or takes any action towards its re-organization, liquidation or dissolution;
6. upon an order being made for the winding up, bankruptcy or dissolution of SafeGold, or an application is admitted for initiating any corporate insolvency resolution process against SafeGold in accordance with applicable law;
7. upon any encumbrancer lawfully taking possession, or a liquidator, judicial custodian, receiver, administrative receiver or trustee or any analogous officer having been appointed in respect of the whole or a substantial part of the property of SafeGold, or an attachment, sequestration, distress or execution (or analogous process) being levied or enforced upon or issued against whole or a substantial part of the assets or property of SafeGold, or any action has been taken or suffered against SafeGold towards liquidation or dissolution or similar reorganization; or
8. upon a liquidator or provisional liquidator being appointed to SafeGold or a receiver, receiver and manager, trustee or similar official being appointed in respect of SafeGold or any of its assets, or an event analogous.
9. Upon termination of Services as mentioned herein, and where there is any insufficiency of SafeGold funds required to pay any costs and expenses to be incurred in relation to providing delivery of your Customer Gold to you, then in such an event you do hereby authorise the Custodian to sell any part of the Customer Gold , that is necessary or required to defray such costs and expenses.

3. Pursuant to the Custodian Agreements, SafeGold has created a charge by way of hypothecation in favour of the Custodian for the benefit of the Customers over: (a) the monies lying in the Collection Account from time to time; and (b) gold purchased by SafeGold from time to time and lying with the Vault Keeper or in transit and, which is the property of SafeGold (collectively “Security”). Upon the occurrence of any of the events detailed in sub-clause 13 (a) and (b) as mentioned above, the Custodian under the Custodian Agreements is to: (i) declare all outstanding amounts as due and payable to the Custodian forthwith; and (ii) take charge and/or possession of, seize, recover, receive and remove the Security and use the same to discharge any liability of SafeGold to the Customers. 

4. You however expressly understand and acknowledge that any enforcement of the Security would always be subject to and undertaken in accordance with the provisions of applicable law and therefore: 

1. it is not possible to accurately predict the time required to make any such distribution; and/or 
2.  the amount received by you from such distribution may not be sufficient to completely extinguish SafeGold’s liability to you; 
3. consequently, no liability shall accrue to the Custodian in relation to the above.

13. CONSEQUENCES OF TERMINATION OF SERVICES

1. Upon such termination for any reason whatsoever:

1. Fractional amounts for gold holdings of less than 1 (One) gram may be sold and cash in pursuance thereto will be sent directly to your bank account, after deducting all the requisite charges relating to appointment of Intermediaries (including but not limited to charges due and payable to Intermediaries and any other out of pocket expenses, custody charges, minting and delivery charges) (“Charges”).

2. For larger gold holdings, the Custodian shall (to the extent you have not already paid for all the Charges) be allowed to sell part of your gold to pay for all the Charges to all the Intermediaries. The remaining portion of the gold shall be delivered to you in accordance with these Terms, along with the details of the deductions made and the quantum of gold that you are entitled to receive.

2. You acknowledge that the termination of your access to the Services may be affected without any prior notice, and the Account may be immediately deactivated or deleted and all related information and/or bar any further access to the Account / Services. Further, you agree that Fisdom and/or SafeGold shall not be liable for any discontinuation or termination of Services by any third party.

3. None of your content shall remain accessible on the Platform upon termination. This information cannot be recovered by you, once the Account is terminated.

4. The disclaimer of warranties, the limitation of liability, and the governing law provisions shall survive any termination of these Terms.

14. FEES

1. You hereby agree that you shall be liable for all fees and charges associated with the use of the Platform and Services. 

2. It is hereby clarified that fees and charges, once paid, are non-refundable.

3. All payments made for the use of the Platform and/or purchase of Customer Gold by you shall be compulsorily in Indian Rupees.

4. While availing any of the payment method/s available on the Platform for availing the Services, Fisdom/SafeGold shall not be responsible for or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to you due to:

1. Lack of authorization for any transaction(s), or

2. Exceeding the present limit mutually agreed by you and between bank/s and/or other institutions used by you in making payment, or

3. Any payment issues arising out of the transaction, or

4. Rejection of transaction for any other reason(s) whatsoever, or

5. Fisdom / SafeGold may temporarily/permanently suspend/terminate the Account or refuse access in case of non-payment of fees due by you. Without limitation to the other rights and remedies available to Fisdom, it also reserves the right to take legal action for the same.

15. FEEDBACK

1. The Platform may allow you to post your review and experience of using the Platform (“Reviews“) in order to improve the Platform and the Customer’s experience.

2. You, being the originator of the Reviews, are responsible for the Reviews that you upload, post, publish, transmit or otherwise makes available on the Platform. You represent that all such Reviews will be in accordance with applicable law. You acknowledge that Fisdom does not endorse any Reviews on the Platform and is not responsible or liable for any Reviews. Fisdom reserves the right to disable access to the Reviews on the Platform.

3. You hereby grant Fisdom and SafeGold a perpetual, non-revocable, worldwide, royalty-free and sub-licensable right and license to use, copy, distribute, display, publish, transmit, make available, reproduce, modify, adapt the Reviews in any manner as deemed appropriate by Fisdom / SafeGold in any form including but not limited to print, broadcast, online and across any and all websites and Apps owned by Fisdom / SafeGold.

4. You further represent and warrant that while posting any Reviews on the Platform you shall not use any offensive, libellous, derogatory, hateful or racially or ethnically objectionable language. Further, you shall not post any content on any part of the Platform that is obscene, pornographic, constitutes an “indecent representation of women” as provided in the Indecent Representation of Women (Prohibition) Act, 1986.

5. You agree not to use or access the Platform or any Service: 

1. for any unlawful purpose; 
2. to solicit others to perform or participate in any unlawful acts; 
3. to violate any international, federal, provincial or state regulations, rules, laws, or local ordinances in India; 
4. to infringe upon or violate Fisdom’s intellectual property rights or the intellectual property rights of others; 
5. to harass, abuse, insult, harm, defame, slander, disparage, intimidate, or discriminate based on gender, sexual orientation, religion, ethnicity, race, age, national origin, or disability; 
6. to submit false or misleading information; 
7. to upload or transmit viruses or any other type of malicious code that will or may be used in any way that will affect the functionality or operation of the Service or of any related website, other websites, or the Internet; 
8. to collect or track the personal information of others; 
9. to spam, phish, pharm, pretext, spider, crawl, or scrape; 
10. for any obscene or immoral purpose; or 
11. to interfere with or circumvent the security features of the Service or any related website, other websites, or the Internet. 

Fisdom reserves the right to terminate your use of the Service or any related website for violating any of the prohibited uses.

16. CONFIDENTIALITY

Fisdom and SafeGold will keep all confidential information confidential, including your personal information, and shall not disclose it to anyone except as required by applicable law, and shall ensure that such confidential information is protected with security measures and a degree of care that it would apply to its own confidential information. Fisdom and SafeGold acknowledges that its employees, directors, agents and contractors shall use the confidential information only for the intended purpose for which it is provided. Fisdom and SafeGold shall use all reasonable endeavours to ensure that its employees, directors, agents and contractors acknowledge and comply with the provisions of these Terms of confidentiality as if such person was subject to these Terms of confidentiality.

17. CONTENT AND INTELLECTUAL PROPERTY RIGHTS

1. Fisdom and SafeGold solely and exclusively owns respective copyrights, trademarks, service marks, logos, trade names, and other intellectual and proprietary rights associated with the Services provided by SafeGold and displayed on/accessed on the Platform and is protected under Indian law.

2. You hereby acknowledge that the Services constitute original works and have been developed, compiled, prepared, revised, selected, and arranged by Fisdom and SafeGold respectively through the application of methods and standards of judgment developed and applied through the expenditure of substantial time, effort, and money and constitutes valuable intellectual property of Fisdom and SafeGold respectively and such others. You thereby agree to protect the proprietary rights of Fisdom and SafeGold respectively during and after the term of these Terms. You may not selectively download portions of the Platform without retaining the copyright notices. You may download material from the Platform only for the purpose intended by these Terms. Any infringement shall lead to appropriate legal proceedings against you at appropriate forum for seeking all available remedies under applicable laws of the country.

18. INDEMNIFICATION

You hereby agree to indemnify and keep Fisdom and SafeGold indemnified from and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses, directly or indirectly, whatsoever (“Losses”) which Fisdom and/or SafeGold and/or its employees, agents, workers or representative may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of: (i) the usage of the Platform by the Customer; (ii) by reason of Fisdom and/or SafeGold acting in good faith and taking or refusing to take or omitting to take action on the Customer’s instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of the Customer; (iii) breach or non-compliance of the Terms; and/or (iv) fraud or dishonesty relating to any transaction by the Customer.

19. LIABILITY

SafeGold and/or Fisdom shall also not be liable under any circumstances for damages arising out or related in any way due to:

1. To your inability to access, or your difficulty in accessing the Platform to avail of any Services due to any bugs, viruses, trojan horses, or the like, which may be transmitted to or through the Platform by any third party, any loss of your data, any claim relating to your data or content from the Services, your failure to keep the confidential information secure and confidential. You further agree that SafeGold shall not be held responsible in any manner whatsoever for any and all acts of Fisdom or other Intermediaries. Likewise, Fisdom shall not be held responsible in any manner whatsoever for any and all acts of SafeGold or other Intermediaries.

2. Functionality, actions, inactions, privacy settings, privacy policies, terms, or content of any third-party links.

20. GOVERNING LAW AND DISPUTE RESOLUTION

These Terms shall be governed by and interpreted and construed in accordance with the laws of India. The courts of Bangalore shall have exclusive jurisdiction over any disputes arising under these Terms. In the event of any dispute arising out of these Terms the same shall be settled by a binding arbitration conducted by a sole arbitrator, appointed jointly by both parties and governed by the Arbitration and Conciliation Act, 1996. The venue of arbitration shall be Bangalore, Karnataka, India.

21. DISCLAIMER OF WARRANTIES

1. ALL INFORMATION, CONTENT, MATERIALS AND SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THE PLATFORM (COLLECTIVELY, THE “CONTENTS”) ARE PROVIDED BY SAFEGOLD AND FISDOM ON AN “AS IS,” “AS AVAILABLE” BASIS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND. SAFEGOLD AND/OR FISDOM MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE OPERATION OF THE PLATFORM, THE ACCURACY OR COMPLETENESS OF THE CONTENTS AND THE ACCURACY OF THE INFORMATION. SAFEGOLD AND/OR FISDOM SHALL HAVE NO RESPONSIBILITY FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY CONTENT, MATERIALS, DOCUMENT OR INFORMATION OR ANY OTHER LOSSES INCURRED BY YOU FOR USE OF THE PLATFORM / PLATFORM. YOU EXPRESSLY AGREE THAT THE USE OF THE PLATFORM / SERVICES IS AT YOUR SOLE RISK. SAFEGOLD AND/OR FISDOM WILL NOT BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM THE USE OF THE PLATFORM OR THE SERVICES OR THE CONTENTS INCLUDING, WITHOUT LIMITATION, DIRECT, INDIRECT, CONSEQUENTIAL, PUNITIVE, AND CONSEQUENTIAL DAMAGES, UNLESS OTHERWISE SPECIFIED IN WRITING. TO THE FULL EXTENT PERMITTED BY LAW, SAFEGOLD AND/OR FISDOM DISCLAIMS ANY AND ALL REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE PLATFORM (OR ANY PART THEREOF) AND ITS CONTENTS, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF TITLE, MERCHANTABILITY, AND FITNESS FOR A PARTICULAR PURPOSE OR USE.

2. Commercial internet service providers are not 100% reliable and a failure by one or more of these providers may affect internet-based order entry. You acknowledge that the order entry system is an electronic mechanical system and as such may be subject to failure beyond the control of Fisdom or SafeGold. Therefore, Fisdom or SafeGold shall not be responsible for errors, negligence, inability to execute orders, delays in transmission, delivery or execution of order due to breakdown or failure of transmission or communication facilities, or to any other cause beyond Fisdom’s or SafeGold’s control or anticipation.

GAP Customer Terms and Conditions

TERMS AND CONDITIONS OF ‘GOLD ACCUMULATION PLAN’ OR ‘GAP’ BY MMTC – PAMP

These “terms” and “Conditions of Use” (“Terms”) constitute an electronic record within the meaning of the applicable laws. This electronic record is generated by a computer system and does not require any physical or digital signatures. These Terms shall be in addition to and not in derogation to any other terms as stipulated from time to time. By transacting for GAP on the Partner Platform, you are agreeing to and accept these Terms and Conditions. 

1. In these Terms, references to “you”, or “Customer” shall mean the counterparty who transacts using the Partner Platform, being a natural person, buying Gold from MMTC-PAMP, redeeming Gold in the form of redeemable products sold by MMTC-PAMP, transfer by Customer(s) to other Customer(s), selling back Gold to MMTC-PAMP and receiving other related services in relation to GAP. “Partner Platform” shall mean, and include, the platforms (website, mobile apps, others) owned and operated by [insert name of Partner] (“Partner”), that the Customer accesses for the GAP transactions, including all contents, services and technology offered through the Partner Platform. “Service Providers” mean independent third party service providers. References to the “Seller”, “MMTC-PAMP”, “we”, “us” and “our” shall mean MMTC-PAMP India Private Limited, the owner of the GAP offering and the entity that will sell Gold. “Transfer” refers to a facility to transfer Gold from Gold account of one Customer to Gold account of another Customer(s).

2. Capacity to enter into these Terms 

The Customer represents and warrants that: 

1. the Customer is of legal age and is under no legal disability or incapacity, to enter into, these Terms and the transactions contemplated by it, and perform its obligations; and

2. the Customer is not insolvent.

3. The Customer represents and warrants that these Terms constitute a legal, valid and binding obligation of the Customer and that all orders to be placed and transactions to be conducted under these Terms are lawful;

4. In executing and giving effect to these Terms, the Customer does not and will not infringe any provision of any other document or agreement to which the Customer is a party, nor any law or judgment / order binding upon it;

5. MMTC–PAMP collectively, reserves the right to change these Terms at any time. Such changes will be effective when posted on the Partner Platform and shall be deemed to be notified to the Customer accordingly. Notwithstanding anything contrary, Customer shall be responsible for regularly reviewing the Terms, including amendments thereto as may be posted on the Partner Platform and shall be deemed to have accepted the amended Terms by continuing the use of Partner Platform.

6. MMTC-PAMP shall be entitled to collect, store, use and share relevant information and documents provided by the Customer on the Partner Platform for KYC purposes and other purposes as permissible under applicable laws. Further, as and when required by MMTC-PAMP the Customer will be required to provide additional documents for fulfilling the KYC requirements. You authorize MMTC-PAMP to make such enquiries as it may feel necessary to satisfy itself about the validity of your identity. You undertake to update us in case of change of your existing information including but not limited to your address, phone number, mobile number, email ID etc. or verification documents provided by you. 

We reserve the right to deactivate your Gold account, in the event you fail to provide KYC documents / information to MMTC-PAMP / Partner within required timelines. The Gold account may be activated only upon submission of relevant documents.  The Customer shall ensure that all information supplied to MMTC-PAMP / Partner by the Customer is, or at the time it is supplied will be, accurate in all material respects and the Customer will not omit or withhold any information which would make such information inaccurate in any material respect. You shall be responsible for the correctness of information provided by you to MMTC-PAMP / Partner from time to time. MMTC-PAMP will not be responsible for the incorrectness of KYC documents / information provided by you. If at any time MMTC-PAMP finds that the KYC documents are incorrect or authenticity of such KYC is doubtful, MMTC-PAMP may, at its sole option, deactivate or close your Gold account. If you have reasons to believe that there is an error in the information furnished to MMTC-PAMP / Partner, you shall immediately advise MMTC-PAMP and Partner in writing and forthwith provide correct / updated information. The Customer authorizes MMTC-PAMP to pass on / deliver all such information and documents to any third person.

7. MMTC-PAMP reserve the right to indefinitely suspend or terminate or block access to any Gold account on the Partner Platform, with or without notice to you, in the event the KYC documents / information are found to be incorrect or authenticity of the documents / information is found to be doubtful. You hereby undertake to indemnify and keep indemnified MMTC-PAMP against any and all losses, claims, liabilities, costs etc. which arise out of or relating to your failure to identify yourself and validate your account promptly and / or due to incorrect KYC documents / information. 

8. You can offer to buy Gold worth Rs. 1.00 (Rupee One Only) and above incremental value thereof at the live purchase price of Gold of 999.9 purity displayed on the Partner Platform. Where errors have occurred in the pricing of transactions displayed by Partner on Partner platform to the Customer, MMTC-PAMP, reserves the right to not be bound by such a quote or transaction. Due to delayed transmission between the Customer and Partner, the price offered on Partner Platform may have changed before an order from the Customer is received by Partner. MMTC-PAMP reserves the right to cancel or reverse the transaction whether before or after transaction confirmation. MMTC-PAMP further reserves the right to credit / debit Gold balance in your Gold account on account of cancellation or reversal of any transaction(s). 

9. Payment will be accepted only through payment options made available on the Partner Platform. At the time of purchase / redemption / sale-back / Transfer of Gold, the relevant taxes will be chargeable as applicable as per the Government regulations. MMTC-PAMP will not be responsible for any wrong / erroneous credit / debit from Customer’s bank account / wallet and / or services provided by the payment solution engaged by Partner Platform.

10. At the time of redemption, the Customer can select redeemable product for redemption from catalogue of redeemable products. These redeemable products will be hosted on the Partner Platform.  The list of redeemable products may be altered, changed and amended by MMTC-PAMP from time to time at its sole discretion. 

11. At the time of redemption in physical deliverable product form, the Customer will pay additional manufacturing and delivery charges and applicable taxes on the same. The redeemable product selected from the catalogue for delivery shall be subject to availability of stock with the MMTC-PAMP.

12. For each confirmed purchase of Gold by the Customer, MMTC-PAMP will be the custodian of the Gold, till such Gold is lying in your Gold account subject to terms herein. The Gold purchased by you will be allocated and stored in a highly advanced and secured vault of MMTC-PAMP, with full insurance cover. 

13. The Customer will have the option of redeeming and asking for physical delivery of the full or part of the accumulated Gold holding, in the form of redeemable products starting from 1 (One) gm and above. The residual fractional Gold remaining, upon redemption by you of the entire Gold holding, can be sold back by you to us at the live sell-back price of gold of 999.9 purity and the corresponding amount against the residual fractional Gold sold by you will be credited to your designated bank account.

14. Once the redemption has been initiated by you and payment received then your Gold grams will be debited accordingly from your Gold account.

15. MMTC-PAMP may also, from time to time in future, offer / permit the Customer to sell-back its Gold to MMTC-PAMP at prevailing live sell-back price of gold of 999.9 purity, during the offer period as may be announced / permitted by MMTC-PAMP. The money against the Gold sold by a Customer would be credited to the Customer’s bank account as per the details provided by the Customer.

16. Live purchase price of Gold will be displayed on the Partner Platform and is subject to change from time to time. At the time you make request for redemption / sell-back, the value of Gold / quantity of Gold to be redeemed / sold back will be displayed based on live sell-back price of Gold. The live purchase price of Gold and live sell-back price of Gold may vary and also may be different from that available in the open market and / or in any other retail outlet. Your offer may be rejected due to any issue with the transaction and money paid by you, if any, will be refunded. In such an event if you still wish to offer to purchase Gold or sell-back residual fractional Gold, you may make another offer at the changed price. MMTC-PAMP disclaims any and all claims and / or liabilities arising from such non-acceptance of offer or revision in prices.

17. While availing any of the payment method(s) available on the Partner Platform, MMTC-PAMP will not be responsible or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to the Customer due to:

1. Lack of authorization for any transaction(s);

2. Exceeding the preset limit prescribed by MMTC-PAMP; 

3. Any payment issues arising out of the transaction,

4. Illegitimacy of the payment methods (credit / debit card frauds etc.) being used by a Customer; 

5. Temporary discontinuation of invitation to offer or offer to sell back; 

6. Any unauthorized, inaccurate or fraudulent transactions and / or for any chargeback transactions; and / or

7. Decline of transaction for any reason(s) whatsoever.

18. MMTC-PAMP may, at its discretion, prescribe maximum individual / cumulative limits for Customer(s) to accumulate Gold, purchase Gold, redemption of Customer redeemable Gold, Transfer or sell back of Gold or any other transaction under GAP from time to time and reserves the right to refuse to accept order exceeding such limit. MMTC-PAMP may at its discretion, prescribe maximum individual / cumulative transaction limits on GAP from time to time, and reserves the right to refuse to accept order exceeding such limit. 

19. At any point of time on any day MMTC-PAMP may temporarily discontinue the invitation to offer purchase of Gold under GAP for any reason whatsoever.

20. MMTC-PAMP may, at its discretion, close down, suspend and / or migrate the Gold account of Customer(s), if (a) the Custody Period has expired; and / or (b) MMTC-PAMP decides to discontinue the GAP scheme and / or (c) any other reason(s) as may be determined by MMTC-PAMP. In such event(s) the Customer can redeem the Gold accumulated by him/her in his/her Gold account, and take delivery of the redeemable products and sell back to MMTC-PAMP the residual fractional Gold lying in his / her Gold account at the live sell-back price of Gold. Further, if the open sale back window is made available by MMTC-PAMP, then the Customer may sell back the product in his/her Gold account in whole or in part. The redemption and sell back by the Customer shall be as per terms prescribed by MMTC-PAMP’s in the notice given for exercising the right to close, under this clause. For the purpose of this clause, ‘Custody Period’ shall mean a period of 5 years from the date of last purchase / receipt of Gold in the Gold account of the Customer. In the event the Customer(s) fails, neglects or chooses not to redeem and / or sell-back, as applicable, their Gold holdings within the time prescribed, then MMTC-PAMP will be entitled to levy on Customer(s), custody charges at the rate of up to 0.5% (zero point five percent) per annum of the value of the Gold balance of the Customer held in the custody of MMTC-PAMP. The custody charges will be deducted from the Gold balance of the Customer as per frequency determined by MMTC-PAMP. In the event that MMTC-PAMP does not exercise its’ discretion to close down the Gold account of Customer(s) in terms of this clause, Customer(s) can continue their Gold account by paying the custody charges as provided above. 

21. The Customer will not be entitled to make an offer for delivery if the zip code of delivery address is outside serviceable areas. At time of redemption the Customer will be required to provide full delivery address. In the event the Customer(s) chooses the delivery address outside the serviceable areas or if the delivery address subsequently becomes unserviceable, then on being notified, Customer may  sale-back the Gold during the open sale back window as per Terms herein;. 

22. All redeemable products selected for delivery by Customer for redemption, shall be delivered within India as per instructions of the Customer through our logistics partners. All deliveries where applicable shall be made on a best efforts basis, and while MMTC-PAMP will endeavor to deliver the products on the dates intimated, MMTC-PAMP disclaims any claims or liabilities arising from any delay in this regard. 

23. Delivery by the logistics partners designated by MMTC-PAMP from time to time shall be completed only after verification through an OTP (One-Time Password) sent to the registered mobile number or such other verification / authentication system that may be adopted by MMTC-PAMP from time to time for delivery of Gold. In case the Customer wishes to change the mobile number or address provided, a formal request shall be raised for the same via Partner Platform. The logistics partner of MMTC-PAMP will make a maximum of three attempts to deliver your order. After three attempts Gold coin will be delivered back to MMTC-PAMP and Customer will need to put the fresh request for the redemption. 

24. In case Customer doesn’t get the delivery due to any reasons attributed to MMTC-PAMP or its delivery partner then the Customer will get the refund of making and delivery charges.

25. In case delivery doesn’t happen due to unavailability of the Customer or any other reason attributed to the Customer then, MMTC-PAMP shall not be liable for refund of making and delivery charges.

26. Any Customer disputes, grievances, complaints, queries or issues with respect to the transaction including with respect to the quality and merchantability, shall be directed to the Partner by the Customer and will be subject to the Terms herein and addressed as per the grievance redressal policies for the GAP products and services. 

27. MMTC-PAMP shall not be liable to directly entertain any such disputes, grievances, complaints, queries or issues. 

28. MMTC-PAMP shall not be liable / responsible, in any manner whatsoever, for any loss / liability arising out of or relating to any technical failure / issue in Partner Platform and / or acts / omission. MMTC-PAMP shall not be liable / responsible, in any manner whatsoever, for any loss / liability arising out of or relating to any technical failure / any issues related to MMTC-PAMP Services and / or acts / omission attributable to Partner. 

29. Notwithstanding anything contrary contained herein, the Customer acknowledges that from time to time, and for any reason, the service, the interface and API work, and their respective information, pricing and data, and availability are subject at any time and from time to time to human, mechanical , typographic, or other errors, oversights, mistakes, limitations, delays, service interruptions, including, without limitation, as may be due in whole or in part to, related to or arising out of (i) computer hardware and software, telecommunication and operating systems, databases, or business processes and procedures, (ii) other problems inherent in, or which may be associated with, the use of the internet and electronic communications including, without limitation, force majeure event, government / regulatory actions,  orders, notifications etc. and / or and acts and omissions of third parties etc. affecting or impacting the service, the interface or the API work, its information and data, or such communications. Customer acknowledges and agrees that MMTC PAMP is not responsible or liable whatsoever for delays, failures, or other loss due to, caused by or resulting from any such problems, in whole or in part. If your Gold account is over credited or wrongfully credited / debited, then MMTC PAMP has right to reverse / cancel without notice or require cancellation / reversal of such transaction at its sole discretion and debit / credit the Gold to / from your Gold account, as the case may be. 

30. Upon MMTC-PAMP confirming the purchase, redemption, sale-back of Gold in his / her Gold account by Customer, the order / request of Customer to purchase / redemption / sale-back / Transfer of Gold, as the case may be, shall be binding on the Customer and cannot be cancelled. 

31. The Customer shall inform immediately, in any case no later than 30 days of the transaction, of any irregularities or discrepancies that may exist in his / her Gold account, failing which it shall be deemed that there is no error or discrepancies in the account. All records maintained by MMTC-PAMP / Partner, in electronic or documentary form of the instructions of the Customer and such other details (including, but not limited to payments made or received) pursuant to the Terms, shall as against the Customer, be deemed to be conclusive evidence of such instructions.

32.  The Customer understands and acknowledges that any purchase, suspension of sale of products, redemption, Transfer or sale-back from / to Gold account / Transfer of Gold will be on instructions received by the Customer, and the Customer will not violate any applicable laws or regulations for the time being in force in or outside India. The Customer shall be solely responsible for complying with applicable laws in respect of purchase, suspension of sale of products, redemption, Transfer or sale-back to and from the Gold account, Transfer of Gold including but not limited to the Prevention of Money Laundering Act, 2002, the Prohibitions of Benami Property Transactions Act, 1998, Income Tax Act, 1961 etc. including amendment thereof. Customer also agrees and undertakes that he / she will not open any account in the name of any minor. MMTC-PAMP will not be liable in any manner in this regard.

33. The Customer feedbacks pertaining to products shall be deemed to be non-confidential and non-compensatory in nature. MMTC-PAMP reserves the right, at its sole discretion to use such information and such use shall be entirely unrestricted. The Customer hereby irrevocably authorizes MMTC-PAMP to disclose, exchange, share or part with all the information relating to the Customer’s details and payment history information and all information pertaining to Customer’s GAP transaction and undertakes not to hold MMTC-PAMP and / or / its affiliates and other group companies and their agents liable for use of the aforesaid information.

34. In the event of termination / expiry of MMTC-PAMP’s arrangement with Partner, the Customer will be notified and the Customer will have the option to either:  (i) continue with its Gold account with MMTC PAMP; or (ii) discontinue with its Gold account with MMTC-PAMP. If Customer chooses to continue with the Gold account of the Customer, their Gold account will be migrated in the manner notified by MMTC-PAMP to the Customer and Customer agrees to provide such support and information as may be required for the purpose of transition / migration. If Customer chooses to discontinue with the Gold account of the Customer, then the Customer shall have the option to redeem the entire product in his Gold account and take delivery of redeemable product and sell-back residual fractional Gold at the live sell-back price of Gold.  In case of open sale back window, may sell-back the entire product in his/her Gold account, at the then prevailing live sell-back price of Gold. In addition, MMTC-PAMP may notify the Customer on other available similar options / plans on the Partner Platform, and the Customer, may choose to avail of any of such options provided by MMTC-PAMP by following simple steps notified in that regard. If the Customer fails to redeem the product in the Gold account within the prescribed time, MMTC-PAMP will be entitled to charge custody charges as per clause 20 of these Terms. MMTC-PAMP will not be liable for any loss, claim, demand, liability etc. arising on account of termination / expiry of MMTC-PAMP’s arrangement with Partner. 

35. MMTC-PAMP will not, at any time, and under any obligation, be required to transfer physical Gold of Customers in its custody to any other person / platform.

36. These Terms shall be governed by and interpreted and construed in accordance with the laws of India. The courts in New Delhi shall have exclusive jurisdiction in respect of any matters arising therefrom.

37. In the event any dispute arises out of or in connection with the Terms herein vis-à-vis the Customer, including the validity hereof, the parties hereto shall endeavor to settle such dispute amicably in the first instance. The attempt to bring about an amicable settlement shall be treated as having failed as soon as one of the parties hereto, after reasonable attempts, which shall continue for not less than 15 (Fifteen) calendar days, gives a notice to this effect, to the other party in writing.

38. Data Privacy: The MMTC-PAMP Privacy Policy, as available on the website [insert link] may be amended, supplemented and / or substituted from time to time, and shall apply to all personal data and / or sensitive personal data or information that you provide to MMTC-PAMP or that MMTC-PAMP has obtained from any other sources or that arises from your relationship with MMTC-PAMP. You hereby consent to MMTC-PAMP’s collection, transfer, storage, use, disclosure and processing of your personal data and / or sensitive personal data or information in accordance with the GAP Agreement. Any information will not be considered as sensitive if it is freely available and accessible in the public domain or is furnished under the Right to Information Act, 2005 or any other law for the time being in force. You warrant that the personal data and / or sensitive personal data or information that you provide to MMTC-PAMP is true, accurate and complete. Any consent you give in relation to personal data and / or sensitive personal data or information, shall survive your death, incapacity, bankruptcy or insolvency, as the case may be.

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

40. Fraudulent Activity: If MMTC-PAMP suspects that fraudulent activity has taken place within your Gold account, in order to protect you, you understand that we may temporarily freeze your Gold account to prevent any further or continuing unauthorized activity.

41. Usage and Proprietary Rights: You agree that any information or data relating to, processed or created in connection with, content or operation of the GAP is confidential and proprietary to MMTC-PAMP, and that you will refrain from disclosing such information to any third party except where required by Applicable Law.

42. Customer representations and warranties:

1. The Customer is bound by the applicable GAP product laws, applicable operating rules, customs, usages and practices.

2. the Customer is not insolvent, 

3. MMTC-PAMP relies on representations and warranties made by the Customer. These representations and warranties and those contained elsewhere in these Terms, survive the entering into of these Terms and are repeated in respect of each GAP product transaction. The Customer warrants and agrees that any person who is in possession of any password is authorized by the Customer, and the Customer acknowledges that they will be responsible for any actions on their account associated with the use of its password. The Customer agrees to notify MMTC-PAMP immediately should the Customer become aware of any unauthorized use, loss or theft of the Customer’s, username, password or account numbers; or inaccurate information with respect to the content of statements including, cash balances, open positions or transaction history.

43. Risk Disclosures:

           The Customer represents and warrants to MMTC-PAMP that:

1. they have received, read, understood and accepted the risk disclosures provided herein in relation to the GAP products contained herein;

2. the Customer acknowledges, recognizes and understands that investment in GAP may involve a degree of risk and loss;

3. the Customer has read these Terms and understands that, UNLESS SPECIFICALLY AGREED WITH MMTC-PAMP AND UNLESS A STATEMENT OF ADVICE HAS BEEN PROVIDED, MMTC-PAMP has only provided general advice, and the Customer has considered its objectives and financial situation and has obtained appropriate independent advice prior to entering into these Terms and has formed the opinion that dealing in the GAP products is suitable for the Customer’s needs and purposes; 

4. The Customer acknowledges that neither MMTC-PAMP nor any associated entity guarantees the performance of any given GAP product or account nor that any GAP product or account will achieve a particular rate of return. 

44. Customer acknowledgements: 

The Customer acknowledges to MMTC-PAMP that:

1. He / she will not receive interest or other earnings on the Gold held in the Gold account. The use of the Platform and any services of MMTC-PAMP does not constitute a trading of, or an exchange in, securities, investment contracts, or any document, instrument, or writing commonly known as a “security”, at law or otherwise; 

2. Anything MMTC-PAMP is permitted to do in accordance with these Terms may be done in its absolute discretion, and any opinion or view required to be formed by MMTC-PAMP may be formed in its absolute discretion; 

3. The Customer’s failure to observe any of the undertakings or representations may result in civil or criminal liability, as well as termination of the use of the MMTC-PAMP services;

4. The Customer is responsible for maintaining adequate security and control of passwords and any other codes that you use to access the services of MMTC-PAMP The Customer agrees to accept full responsibility for the use of the Partner Platform, for any orders transmitted through the Partner Platform and for all communications and the accuracy of all information sent via the Partner Platform using the Customer’s name, password or any other personal identification means implemented to identify the Customer. MMTC-PAMP will not be responsible for any loss or claim arising out of our relying on instructions provided to us using your Password. 

5. You agree to exercise safe security practices when accessing and conducting electronic transactions. This includes signing out and closing any online electronic transaction services once all transactions have been completed regardless of your method of accessing the Partner Platform.

45. Restricted Activities:

You agree that you will not: 

1. Breach this Agreement or any other agreement or policy that you have agreed to with MMTC-PAMP; 

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

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

4.  Provide false, inaccurate, or misleading information; 

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

6. Conduct your business or use the MMTC-PAMP services in a manner that results in, or may result in, complaints, disputes, claims, reversals, chargebacks, fees, penalties, and other liability to Partner, other uses, third parties, or you;

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

46. Waiver: Any failure or delay by MMTC-PAMP to enforce or exercise any provision of these Terms, or any related right, shall not constitute a waiver by MMTC-PAMP of that provision or right. The exercise of one or more of MMTC-PAMP’s rights hereunder shall not be a waiver of, or preclude the exercise of, any rights or remedies available to MMTC-PAMP under these Terms or in law or at equity. Any waiver of any provision shall only be effective if made in writing and executed by a duly authorized officer of MMTC-PAMP 

47. Force Majeure: If performance under these Terms by MMTC-PAMP is prevented, restricted, delayed or interfered with by reason of labor disputes, strikes, acts of God, floods, lightning, severe weather, shortages of materials, rationing, inducement of any virus, Trojan or other disruptive mechanisms, any event of hacking or illegal usage of the Partner Platform, utility or communication failures, earthquakes, war, revolution, acts of terrorism, civil commotion, acts of public enemies, blockade, embargo or any law, order, proclamation, regulation, ordinance, demand or requirement having legal effect of any government or any judicial authority or representative of any such government, or any other act whatsoever, whether similar or dissimilar to those referred to in this clause, which are beyond the reasonable control of the MMTC-PAMP and could not have been prevented by reasonable precautions then MMTC-PAMP shall  be excused and discharged from such performance to the extent of and during the period of such force majeure event, and such non-performance shall, in no manner whosoever, amount to a breach by the MMTC-PAMP of its obligations herein. 

48. Absence of relationship: You represent and warrant to MMTC-PAMP that you have sufficient experience and knowledge to make informed decisions to purchase / redeem / sale-back Gold / redeemable products / Transfer of Gold You acknowledge that you are making all of your own decisions in connection with purchases or redemption or sale-back and that you have not relied on any information made available by MMTC-PAMP, and that MMTC-PAMP is not making any recommendation with respect to such purchases / redemption /sale-back of Gold / redeemable products / Transfer of Gold. No relationship other than seller-purchaser, including, without limitation, any agent-principal relationship, any advisor-advisee relationship, any employee-employer relationship, any franchisee-franchisor relationship, any joint venture relationship or any partnership relationship, exists between you and MMTC-PAMP. No relationship other than service provider- service recipient including, without limitation, any agent-principal relationship, any advisor-advisee relationship, any employee-employer relationship, any franchisee-franchisor relationship, any joint venture relationship or any partnership relationship, exists between you and Partner.

49. Electronic Order Risks: Order entry systems have been designed to provide an efficient and dependable method for entering orders. Commercial internet Service Providers are not 100% reliable and a failure by one or more of these providers may affect internet-based order entry. You acknowledge that the order entry system is an electronic mechanical system and as such may be subject to failure beyond the control of MMTC-PAMP. Therefore, MMTC-PAMP shall not be responsible for errors, negligence, inability to execute orders, delays in transmission, delivery or execution of order due to breakdown or failure of transmission or communication facilities, or to any other cause beyond MMTC-PAMP’s control or anticipation. You acknowledge that pricing or typographical errors may occur and that therefore, in the event that a product is listed at an incorrect price or with incorrect information due to an error in pricing or product information, MMTC-PAMP reserves the right, at our sole discretion, to refuse or cancel or reject any orders placed for the products. Furthermore, MMTC-PAMP reserves the right to deny refuse or cancel or reject any orders placed in case of market volatility and / or unusual circumstances or conditions. This includes, without limitation, unexpected unavailability of product / Gold.\

50. Customer responsibility for taxes, tariffs and duties: You acknowledge that you are solely responsible for all taxes, tariffs and duties that may be incurred as a result of purchase / redemption of Gold / redeemable products. MMTC-PAMP will only collect taxes, tariffs and duties on transactions to the extent explicitly required by law. It is your responsibility to be aware and properly address any taxes, tariffs and duties to which you may be subject by any local, state and / or federal governments. If you have any questions about taxes, tariffs and duties, you should consult a tax or other professional about your unique circumstances. MMTC-PAMP does not represent to provide advice or recommendations about your specific taxes, tariffs and duties and any statements made by us are only for the purpose of raising issues for you to discuss with your tax or other professional.

51. Appointment of Security Trustee:

1. You hereby acknowledge and agree that in order to ensure that Your Customer Orders/Customer Requests are fulfilled in all circumstances, a first and exclusive charge on the Customer Gold by way of hypothecation will be created in favour of IDBI Trusteeship Services Limited or any successor Person (“Security Trustee”). 

2. By accepting these Terms, You further agree to accede to the terms for such arrangement with the Security Trustee (i.e., a security trustee agreement) and for creation of the charge over the Customer Gold by way of a deed of hypothecation or the like (collectively, “Security Trustee Agreements”). By clicking on “I Accept”, You acknowledge that You will accede to the Security Trustee Agreements (upon such date) as if You had been named as an original party to the same and had executed each of such Security Trustee Agreements; and will be bound by all the terms and conditions of the Security Trustee Agreements. 

3. All existing customers need to tick “I Accept” at the appropriate place on the platform website and the app, agreeing to the creation of the first and exclusive charge on the purchased Gold i.e.  Customer Gold already kept with our Safe Keeper/ Custodian by way of hypothecation created in favour of IDBI Trusteeship Services  through the deed of hypothecation or the like (collectively, “Security Trustee Agreements”).

4. In the event of any expenses or charges remaining payable to any customer, it will be guided by the respective SOP’s and terms and conditions of the platform.

5. By way of these Terms, You authorize the Security Trustee to act on your behalf.

52. Safe Keeping/Vaulting of Gold 

1. Gold purchased by You corresponding to the Customer Order shall be stored with a custodian i.e MMTC-PAMP in a vault on Your behalf (“Vault Keeper”). 

2. To ensure that the Customer Gold stored in such vault is adequately protected, necessary insurance policy/ies has been obtained by the Vault Keeper, where the cost of insurance to safe keep the same will be borne by the Vault Keeper. Pursuant to such insurance policy/ies, for any loss or damage to the Customer Gold stored in the vault, You further authorize the Security Trustee to act as Your beneficiary under the insurance policy/ies and to take all steps necessary to protect Your interests. 

3.  The Vault Keeper has taken the necessary insurance policy/ies, in case of occurrence of an insurable event.

4. Maintenance of the purity of the Gold as per Customer Order will be the responsibility of the MMTC-PAMP along with the Delivery of Gold to the Customer as per his /her last reported address on request for delivery.
5. Indemnification: Customer hereby agrees to indemnify and keep MMTC-PAMP indemnified from and against all actions, claims, demands, proceedings, losses, damages, personal injury, costs, charges and expenses, directly or indirectly, whatsoever (‘Losses’) which MMTC-PAMP or its respective employees, agents, workers or representative may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of: (i) the usage of the Partner Platform by the Customer; (ii) by reason of MMTC-PAMP ‘s acting in good faith and taking or refusing to take or omitting to take action on the Customer’s  instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of the Customer; (iii) breach or noncompliance of the Terms and relating to the Gold account; and / or (iv) fraud or dishonesty relating to any transaction by the Customer. Without prejudice to the foregoing, MMTC-PAMP shall be under no liability whatsoever to the Customer in respect of any loss or damage arising directly or indirectly out of: 
   1. Effecting transaction based on instructions received from Customers;

2. The instruction of a Customer to Transfer Gold from his / her Gold account to another Gold account; 

3. The exercise by MMTC-PAMP of its right to terminate / exercise the facility / services provided on the Partner Platform; 

4. Any injury to the credit, character and reputation of the Customer due to use of facility / services on the Partner Platform;

5. Any misstatement, misrepresentation, error or omission in any details disclosed by MMTC-PAMP if receives any process, summons, order, injunction, execution distrait, levy lien, information or notice which MMTC-PAMP in good faith believes / calls into question the Customer’s ability, or the ability of someone purporting to be authorized by the Customer, to make the transfer, MMTC-PAMP may, at its option and without liability to the Customer or such other person, decline to allow the Customer to obtain any portion of his Gold / product, or may handover such Gold / product over to an appropriate authority and take any other steps required by applicable law.

6. For any breach of contract / terms / conditions agreed between Customer(s) and Partner Platform and / or between Partner Platform and any third party. 

54. Disclaimers and limits of liability: 

1. The Customer declares it has read, understood and accepted all of the terms and conditions outlined in these Terms. The Customer agrees that when entering into a GAP product transaction with MMTC-PAMP, the Customer is relying on its own judgment and, to the extent permitted by law. The Customer acknowledges and declares that any information regarding the GAP including but not limited to the information displayed on the Partner Platform, in these Terms, etc., shall not be construed as any advice or recommendation given or views expressed to the Customer, by MMTC-PAMP. 

2. MMTC-PAMP does not make any representations, recommendations, projections, warranties or guarantees of any kind, either expressed or implied, including but not limited to the performance of its Gold / redeemable products with respect to future prices or any return on investment; all warranties of merchantability and fitness for a particular purpose as well as warranties regarding the accuracy, correctness, or completeness of the information, data, content, materials or the services associated with operation of GAP, or the service, or the safety, reliability, title, timeliness, completeness, title, merchantability, conformity or fitness for a particular purpose of the information, data, content, materials or the services associated with the operation of the service. MMTC-PAMP makes no representation, warranty or guarantee that the MMTC-PAMP Platform or its information, data, content, materials, or services is free of infection from any viruses, worms, trojan horses, trap doors, back doors, time bombs, cancel bots or other code or computer programming routines that contain contaminating or destructive properties or that are intended to damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, application, interface, content, data or financial / personal information.

3. GAP and the related service by MMTC-PAMP and pricing and data, and availability are subject at any time and from time to time to human, mechanical, typographic or other errors, oversights, mistakes, limitations, delays, service interruptions, (i) including, without limitation, as may be due in whole or in part to, related to or arising out of MMTC-PAMP’s computer hardware and software / platform, telecommunication and operating systems, databases, or business processes and procedures, (ii) as well as other problems inherent in, or which may be associated with, the use of the internet and electronic communications including, without limitation, force majeure events as well as government, regulatory and acts and omissions of third parties affecting or impacting GAP or MMTC-PAMP Services, its information and data, or such communications and MMTC-PAMP shall not be liable for any damages, liabilities, claims, demands, etc. for any loss caused to or suffered by the Customer and MMTC-PAMP disclaims any liability arising due to the same.

4. The GAP is controlled and offered by MMTC-PAMP in India. MMTC-PAMP makes no representations, warranties or guarantees that the GAP is appropriate or available for use in other jurisdictions. If Customer accesses or uses the GAP or MMTC-PAMP’s Service from other jurisdictions, then Customer does so by Customer’s own volition and Customer is solely responsible for compliance with local law. 

5. MMTC-PAMP reserves the right at any time and without notice, in MMTC-PAMP’s sole and absolute discretion, to have the GAP hosted by or through one or more other entities and / or in one or more other jurisdictions, provided there shall be no material deterioration in the level of performance of GAP. Subject to the foregoing, the terms and conditions upon which MMTC-PAMP may offer a hosted service, shall be in MMTC-PAMP’s sole and absolute discretion, save and except expressly agreed herein. 

6. MMTC-PAMP shall not be liable for Customer’s failure to follow MMTC-PAMP’s reasonable instructions in connection with the GAP and transactions or for the Customer’s incorrect use or misuse of GAP. Notwithstanding anything in these Terms to the contrary, MMTC-PAMP does not and shall not have or bear any responsibility or liability to the Customer(s) with respect to transaction or transaction quotations, orders, acceptances, confirmations, statements of account, or payments.

7. MMTC-PAMP will not be liable for any Loss or damage caused by reliance on information obtained in any of our newsletters, literature, reports, e-mail correspondence, website, or any other communication from MMTC-PAMP. MMTC-PAMP will not be liable to any Customer (including but not limited to transferee) for any Losses caused by or relating to Transfer / deposit of Gold to Gold account of any other Customer. 

8. MMTC-PAMP explicitly urges to all its Customers to inspect the package for any damage or tamper before receiving or signing for receipt. If you find any tampering, do not accept the parcel and return the same. MMTC-PAMP will not be liable for any loss or damage caused if the Customer accepts the parcel in spite of it being damaged or tampered. The duty to verify the parcel for any damages or tampering is of the Customer and if the Customer accepts the parcel and later comes to know of any damage or tampering, MMTC-PAMP shall not be liable for any loss or damage to Customer. If such loss is later reported and approved by logistics partner and Insurance Company, the limit of liability shall be restricted to the amount paid by the logistic partner for such loss or damage in transit as per their terms and conditions and the same shall be binding upon the Customer.

9. The Customer understands and acknowledges that MMTC-PAMP, or any of its respective directors, employees, agents, shall not be liable for any damages, liabilities, claims, demands, etc. by Customer(s) or any loss caused to or suffered by the Customer, for any reason whatsoever. causes of action under these Terms and the facility / services provided by MMTC-PAMP save and except loss caused to the Customer due to quality or merchantability of product or redeemed product sold by MMTC-PAMP. In any case, the liability shall not collectively exceed total amount paid by you, if any, for the particular transaction in question. The foregoing limitation of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.

55. You acknowledge that MMTC-PAMP will not be liable to you or any other person as a result of your access or use of Gold / redeemable product for indirect, consequential, special, incidental, punitive, or exemplary damages, including, without limitation, lost profits, lost savings and lost revenues (collectively, the “excluded damages”), whether or not characterized in negligence, tort, contract, or other theory of liability, even if MMTC-PAMP has been advised of the possibility of or could have foreseen any of the excluded damages, and irrespective of any failure of an essential purpose of a limited remedy.  

You declare that you are an individual not having registration and neither required to take registration under Central Goods and Service Tax Act 2017, State Goods and Service Tax Act 2017, Integrated Goods and Service Tax Act 2017 and Union Territory Goods and Service Tax Act 2017.

56. You declare that you are not an unregistered dealer of Gold and silver or any other precious metal ornament or any related product.

57. If found of any misrepresentation then you will be solely responsible for all applicable taxes, interest and penalty due to the government at any given point of time.