Summary of Key Legal & Trading Provisions
Essential operative clauses governing transactions conducted through our London desk and online platform.
| Clause | Subject Matter | Summary of Legal Provision |
|---|---|---|
| Clause 1.0 | Price Determination & Spot Peg | Bullion prices fluctuate continuously with global interbank commodities markets. Submitted orders lock spot prices permanently. No unilateral price adjustments occur after order submission. |
| Clause 2.0 | Exemption from Statutory Cancellation | Under Regulation 28(1)(b) of the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, 14-day statutory cancellation rights do not apply to precious metals whose value fluctuates with financial markets. |
| Clause 3.0 | Settlement Timelines & Default | Payment via bank wire must clear within 24 hours of order confirmation. Default or failure to settle incurs market loss liability plus a standard administrative liquidation fee of 2.5%. |
| Clause 4.0 | Title, Custody & Risk of Loss | Legal title passes to the buyer upon receipt of cleared funds. Physical risk of loss remains 100% with Golden Star Met until delivered and physically signed for at destination. |
| Clause 5.0 | Forward Reserve Term Contracts | Allocations purchased under Forward Reserve terms (3, 6, 12 months) represent physical forward supply contracts with contracted delivery upon maturity date as defined in the contract schedule. |
Guaranteed Buyback Terms
Golden Star Met guarantees a continuous two-way liquidation market. Metal stored in our allocated depository vaults can be liquidated on demand with same-day settlement to client-nominated accounts.
Dispute Resolution
Any disputes arising out of or in connection with bullion trading contracts shall be resolved by the High Court of Justice in London, England, following a mandatory 30-day executive mediation period.
Statutory Verification Condition
Dispatch of physical bullion is strictly conditional upon successful completion of identity verification under HMRC anti-money laundering regulations. Metal will not be released to unverified parties.