The Distance Sellers Act 2000 states that any business providing goods or services to consumers by mail order, telephone or internet must provide the consumer with a minimum term in which to return the goods or service. Essential Bullion is a Financial service which sells products which change in price due to the Financial Markets and is therefore exempt from the distance sellers act.
Essential Bullion Ltd operates the following refund policy for payments taken for Essential Bullion listed products. We will fully refund your order within 3-5 working days if:
a: We are unable to accept your order due to business or operational reasons
b: We are unable to fulfill your order
c: The refund request is a same day refund requested before 11am for an order solely purchased by bank transfer
For products that have been received we will refund only on the basis of:
In the very rare event that you receive a damaged or broken order from us - please in the first instance take photos or record live footage of the product in question and share it with our customer services team via email@example.com. We will be happy to assist and help resolve the matter. Should a refund still be requested we will fully refund your order within 3-5 working days should the actual bullion or product be broken or damaged in a way that would render it not resellable. A refund will only be paid out once we have tested and inspected the returned bullion. All refund claims must be in writing to firstname.lastname@example.org and the damaged or broken goods sent to the registered office (see the bottom of this page).
Due to the fluctuating financial markets we can promise guarantee to repurchase any unwanted bullion at 90-99% of the live spot price rate. The final refund will be based on the date and time we receive the bullion. A refund will only be paid out once we have tested and inspected the returned bullion. Once approved we will pay out in 3-5 working days. For a real time valuation of the bullion you'd like to sell, please call our office on 0203 633 9312.
Please refer to our guidance on shipping & returns (click here) for best practice on how to return goods safely.
Payments for orders
TERMS AND CONDITIONS
FOR THE SALE OR PURCHASE OF
1.1 Definitions. In these Terms and Conditions, the words below shall have the following meanings:
“Bullion” means a mass (most commonly in the form of bars) of Precious Metal standing to Your credit;
“Business Day” means a day (excluding Saturdays, Sundays and public holidays) on which commercial banks are generally open for business in London and on which the relevant markets relevant to Precious Metals are open for business;
“Good Delivery” means gold and silver bars meeting the specification and rules set forth by the LBMA in respect of such bars
“LBMA” means the London Bullion Market Association or its successors;
“Non-Good Delivery” or “NGD” means bars that do not comply with Good Delivery rules;
“Precious Metal” means gold, silver, platinum, palladium or rhodium;
“Rules” means the rules, regulations, practices and customs of the LBMA and such other regulatory authority or body as shall affect the activities contemplated by these Terms and Conditions;
“Terms and Conditions” means these terms and conditions;
“We / Us / Our” means Essential Bullion Ltd or its successors;
“You / Your” means you (the customer wishing to buy Bullion from Us or sell Bullion to Us).
1.2 The headings in these Terms and Conditions do not affect their interpretation.
1.3 References to the singular include the plural and vice versa.
1.4 References to “including” are not exhaustive and mean "including but not limited to".
2.1 These Terms and Conditions set out the terms which shall govern:
(a) Any desired purchase by You from Us of Bullion.
(b) Any desired sale by You to Us of Bullion.
2.2 We reserve the right to change these Terms and Conditions without notice, although any such changes may be advised by notice of such change being sent to Your address as shown in Our records.
Buying Bullion from Us
3.1 If You wish to purchase Bullion from Us, You must decide and must notify to Us whether to purchase Bullion.
3.2 You may place orders with Us to buy Bullion up to the value of cleared funds received in advance by Us for the purchase of such Bullion. At Our discretion, purchases may be permitted in advance of the receipt of cleared funds.
3.3 The unit of account for Precious Metals will be 1 gram; conversion of ounces to grams (and vice versa) will be on the basis of there being 31.1035 grams per ounce troy. For coins the unit is the coin of the type and weight You request, but not a specific date or quality unless otherwise offered. We reserve the right to specify a minimum order quantity.
3.4 You may purchase on the basis of a designated London Fixing for Gold, Silver, Platinum or Palladium provided that Your instruction is received and accepted by Us prior to the commencement of the designated fixing. Alternatively, purchases may be made outside the fixing by negotiation.
3.5 We do not guarantee any future fixing price and do not guarantee to hold any price We may previously have quoted to You. Bullion prices can be volatile. They can fall as well as rise. In times of extreme volatility quoted spreads can become wider than is normal; there are times, especially whilst the fixings are being conducted, when it can become difficult to obtain and provide dealing quotes. At such times, We will exercise Our reasonable endeavours to maintain dealing quotes for account customers but will not be obliged to provide quotes.
3.6 We do not give advice on the suitability or otherwise of Bullion as an investment vehicle in general or specifically for You. If You have any doubts about the suitability of Bullion as an investment or trading vehicle for yourself You must seek independent advice. Nothing contained herein is to be taken as advice on the merits of Bullion as an investment, nor as an invitation to You to purchase or sell Bullion.
3.7 Commission that We charge You on the purchase of any Bullion shall be based on Our then-current standard commission charges.
3.8 You acknowledge and agree that any monies paid to Us are for the purchase of Bullion. They are neither a deposit nor margin. We will not hold such funds in any form of segregated account.
4 Identification requirements under money laundering law
4.1 If we are required under the Money Laundering Act (AMLA) to identify the customer and any possible beneficial owner, you as our contractual partner are subject to a legal obligation to cooperate with us; whereby, in particular, you must provide us with the information and documentation needed for identification purposes and must also notify us of any changes that may occur in the course of the business relationship. Specifically, in respect of the above statutory duties, whenever we accept cash to the value of £10,000 or more, our company has a particular duty to identify each customer and any possible beneficial owner.
For this purpose, you must supply and disclose to us with the personal information needed for identification purposes, if you wish to create, continue or to carry out the business relationship or a particular transaction either for yourself or for a beneficial owner. This identification is usually accomplished by presentation of an identity card or passport in the original. If the customer is a legal person or a partnership, you will need an extract from either the Commercial Register or the register of associations or from a comparable official register or directory, and if necessary, further or additional appropriate documents, such as, in the case of a civil law partnership, the current partnership agreement. Furthermore, as the customer, you must at the very least provide the name of any beneficial owner as well as their identity, as described above. We shall have the right to produce a copy of the documents submitted for the purpose of the identity check, which we shall retain in accordance with the relevant statutory provisions.
5.1 Delivery will be made to the shipping address that you’ve entered in your EssentialBullion.com customer account profile or another address you have selected. We reserve the right to change delivery to a delivery partners Delivery Centre or Access Point on your behalf for security reasons. In the case of the "Shipping" delivery option, delivery of the goods shall take place at the agreed address (either a private home or company premises, as stated on the order confirmation and/or confirmation of receipt of payment); whereby this shall be accomplished by handover to a person found in either of the above locations, who is authorised to receive consignments and to provide an acknowledgement of receipt thereof.
5.2 Delivery to a mail box or a packing station etc. is not insured. In the case of delivery by courier to a private address or self-collection, goods will only be handed over after the authorisation of the recipient has been checked. This authorisation check is usually carried out through presentation by the customer of a valid official photo identification (in particular, an identity card or passport). Authorised agents will need their own official photo ID, together with written authority, i.e. a document signed by the customer for this purpose. Either the respective original document or a certified photocopy can be presented.
5.3 Authorisation checks due to legal provisions shall remain unaffected. If the "Shipping" delivery option to the specified delivery address is carried out during normal delivery times (Monday to Friday 7:30 to 18:30) but no authorised recipient is found, our transport company will make another delivery attempt. However, should delivery of the goods from us fail for any reasons beyond our control, we may cancel the contract; whereby any payments that have been made will be refunded to you immediately. Our statutory rights, in particular to compensation for additional expenses, remain unaffected. The risk of accidental deterioration and accidental loss of the goods passes to you pursuant to the relevant statutory provisions, i.e. in particular on handover of the goods or delayed acceptance. Unless self-collection has been agreed, therefore, we do not assume the risk of loss or damage to goods in transit to you.
5.4 Any delivery times stated by us are calculated from the day following our confirmation of receipt of payment. Unless no delivery time or no different delivery time has been specified or agreed for the goods in question, the delivery time is approximately 1-3 business days, as counted from the beginning of a working week that begins on Monday and ends on Friday. If we fail to comply with a binding delivery deadline for reasons beyond our control, (unavailability of the goods, e.g. as a result of missing and involuntary self-supply by our suppliers or force majeure), we will notify you immediately, and, if necessary, we will indicate a new estimated delivery time. If the new delivery time is not acceptable to you or if the goods are not available within the new delivery period or at all, both parties shall be entitled to withdraw from the contract in respect of the product concerned; whereby we will immediately refund any consideration already paid.
6. Confidentiality and data protection
6.1 We will treat all non-public information we hold about You as private and confidential. You agree that We may:
(a) use Your information to administer and operate Your account and monitor and analyse its conduct, provide services to You, assess any credit limit or other credit decision (and the interest rate, fees and other charges to be applied to Your account) and enable Us to carry out statistical and other analysis;
(b) disclose Your information to other companies in Our group; those who provide services to Us or act as Our agents; anyone to whom We transfer or propose to transfer any of Our rights or duties under these Terms and Conditions; credit reference agencies or other organisations that help Us and others make credit decisions and reduce the incidence of fraud or in the course of carrying out identity, fraud prevention or credit control checks; where We are required to do so by applicable laws or regulations, where there is a public duty to disclose or where Our interests require disclosure; at Your request; or with Your consent (and in the case of a joint account, We may disclose to any of You information obtained by Us from any of You in relation to the account);
(c) use Your information, unless You have told us that You do not wish Us to do so, to inform you (by post, telephone, email or other medium, using the contact details You have given Us) about products and services offered by Us, other companies in Our group or selected third parties which We believe may be of interest to You; and
(d) transfer Your information to any country, including countries outside the European Economic Area which may not have strong data protection laws, for any of the purposes described in this clause.
6.2 You may have rights of access to some or all of the information We hold about You, to have inaccurate information corrected and to tell us that You do not wish to receive marketing information, under data protection law. If You wish to exercise any of these rights, please contact Us in writing.
7. Representations and Warranties
7.1 You represent and warrant to Us that:
(a) You have all necessary authority, powers, consents, licences and authorisations and have taken all necessary action to enable You lawfully to enter into and perform Your duties and obligations under these Terms and Conditions;
(b) the persons entering into any transaction or activity covered by these Terms and Conditions on Your behalf have been duly authorised to do so;
(c) these Terms and Conditions and the obligations created under it are binding upon You (and Your successors and heirs) and enforceable against You (and Your successors and heirs) in accordance with its terms;
(d) any deposit of Precious Metal with Us is made: (i) in accordance with the Rules, (ii) with full legal and beneficial title, and (iii) free and clear from any and all contingent or existing charges, pledges, mortgages, securities, encumbrances, liens or other third party right or claim
8.1 We are under no duty or obligation to make or take any special arrangements or precautions beyond those required by the Rules or as specifically set forth in these Terms and Conditions.
8.2 We shall not be liable to you for any delay in performance, or for the non-performance of any of Our obligations under these Terms and Conditions by reason of any cause beyond Our reasonable control. This includes any act of God or war or terrorism, any breakdown, malfunction or failure of transmission in connection with or other unavailability of any wire, communication or computer facilities, any transport, port, or airport disruption, industrial action, acts and regulations and rules of any governmental or supra national bodies or authorities or regulatory or self-regulatory organisations or failure of any such body, authority, or organisation for any reason, to perform its obligations.
8.3 You shall indemnify and keep Us and each of our directors, shareholders, officers, employees, agents and affiliates (“Indemnified Parties”) indemnified (on an after tax basis) on demand against all costs, expenses, damages, liabilities and losses which any such Indemnified Parties may suffer or incur, directly or indirectly in connection with these Terms and Conditions except to the extent that such sums are due directly to Our negligence, wilful default or fraud (or that of such Indemnified Parties).
8.4 These Terms and Conditions do not confer a benefit on any person who is not a party to it (and shall not be enforceable by any person who is not a party to it) except for such Indemnified Parties the Contracts (Rights of Third Parties) 1999 Act shall not apply to these Terms and Conditions.
8.5 Except for any liabilities which may not be limited or excluded by applicable law (for which no cap on liability shall apply), Our liability to You under or in connection with these Terms and Conditions (or any transaction or arrangement governed by these Terms and Conditions) shall not exceed the fees You have paid to Us in respect of the transaction or arrangement in respect of which any such liability arose, howsoever such liability may have arisen.
8.6 Our rights under these Terms and Conditions are in addition to, and independent of, any other rights which We may have.
9. General Provisions
9.1 The Rules shall apply to any transaction or arrangement under or in connection with these Terms and Conditions, except that in the event of any conflict between the Rules and these Terms and Conditions, these Terms and Conditions shall prevail to the fullest extent permitted by applicable law.
9.2 A notice, notification, instruction or other communication under or in connection with these Terms and Conditions must be in writing and will be deemed received only if actually received or delivered.
9.3 These Terms and Conditions are for the benefit of and binding upon Us and our respective successors, heirs, and assigns. These Terms and Conditions may not be assigned by either party without the written consent of the other party, except that We may assign these Terms and Conditions (without notice or consent) to any third party pursuant to a merger or sale of Our business.
9.4 If any of the clauses (or part of a clause) of these Terms and Conditions become invalid or unenforceable in any way under any law, the validity of the remaining clauses (or part of a clause) will not in any way be affected or impaired.
9.5 These Terms and Conditions are governed by and will be construed in accordance with, English law.
9.6 Both parties agree that the courts of London, England are to have jurisdiction to settle any disputes or claims which may arise out of or in connection with these Terms and Conditions and, for these purposes both parties irrevocably submit to the non-exclusive jurisdiction of such courts.
Essential Bullion Ltd, 63-66 Hatton Garden, London EC1N 8LE
Tel: 0203 633 9312