Mobile App Policies

Information About Us

Gilded (USA) LLC is a Delaware limited liability company. This entity is part of a larger group of related entities working on and/or offering fintech solutions centered on physical gold. Our group website, www.gildedco.com (the “Gilded Website”) and secure application (the “Gilded App”) for the digital purchase and sale of gold and other related functions are utilized by license from Our ultimate parent entity, Digital Swiss Gold (Cayman) Limited. Other related entities may provide services to or receive services from Gilded (USA) LLC.

To contact Us, please see Our Contact Us page at www.gildedco.com or email Us at gilded.support@gildedco.com.

In these Customer Terms and Conditions (“Terms and Conditions”) capitalized terms will have the meaning given to them above or below. References to “Gilded”, “We”, “Our” or “Us” mean Gilded (USA) LLC, which is the legal person with whom You contract pursuant to these Terms and Conditions. References to “You” or “Your” mean you, the user and subscriber (“Customer”), including during the period while Your application to become a Customer is pending.

Deemed Acceptance and Prevailing Versions

You become a Gilded Customer by registering for an account (“Account”) via the Gilded App and completing the know-your-customer (“KYC”)/anti-money laundering (“AML”) process. Only persons 18 years of age or older may become Customers. In becoming a Customer You accept and agree that these Terms and Conditions define the entire business, service and/or other relationship between Gilded and You and that the only party You have a business, service and/or other relationship with by virtue of becoming a Customer is Gilded. You accept and agree that You have no privity, contractual, business, service and/or other relationship with or legal or other rights against any and all of Gilded’s affiliates (“Affiliates”) or any and all of the service providers engaged by Gilded or its Affiliates (“Service Providers”). Gilded considers You, and no one else, to be the owner of Your Account.

These Terms and Conditions are as of 8 September 2021 and replace all previous Terms and Conditions.

By giving thirty (30) calendar day notice of modifications We may from time to time modify Our Terms and Conditions.

During such thirty (30) calendar day notice period You have the right to terminate the relationship under the then-existing Terms and Conditions. This can be effected by selling all the gold bullion (“gold”) in Your Account, receiving Your Funds (which term encompasses monies, funds and currency regardless of the issuing nation) under the then-existing Terms and Conditions and asking for Your Account to be closed. If You do not terminate the relationship in this way You are deemed to accept the new Terms and Conditions.

New Customers opening an Account within the thirty (30) calendar day notice period accept that they will be bound by the new Terms and Conditions, which come into effect immediately with respect to them.

The Purpose of Your and Our Business Relationship

You have chosen to become a Customer in order to benefit from Gilded’s terms and services for purchasing, storing, sending, delivering and selling gold. In order to deliver against Your expectations, Gilded offers a service that is designed for access across the internet using the Gilded App and Gilded Website and expects to earn a profit from administration and other fees and charges We assess (“Fees”).

Data About You

Privacy Policy

In order to provide You service, We will need to retain on Our systems information about You and You permit Us to do so. We will ensure that when We collect Your Personal Data (as described below) it is:

processed lawfully, fairly and in a transparent manner;
collected only for specified, explicit and legitimate purposes;
adequate, relevant and limited to what is necessary for the purposes for which it is processed;
maintained with the most current information You have provided to Us;
not kept in an identifiable form for longer than is necessary for the purposes for which You provided it;
secured by appropriate technical and organisational measures; and
not transferred without adequate protection.

It is important that We keep Your information accurate and up-to-date and so in return You agree to:

give Us accurate information; and
tell Us as soon as possible if there are any changes to Your information, such as a new address.

Your information is precious to Us and We will only use it in connection with providing Our service to You. We do not share Your information with any third party for the purposes of third-party marketing activity.

Third-party platforms linked within the Gilded App and on the Gilded Website are not covered by this policy.

If any Personal Data or sensitive information relating to You is provided to Us, You confirm that You are aware of and consent to the collection and use of Your data for the purposes of maintaining and operating Your Account.

Personal Data is any information identifying You or information relating to You that allows Us to identify You. This can be done either directly or indirectly from that data alone or in combination with other information and identifiers We possess or can reasonably access.

Personal Data can be factual (for example, a name, email address, location or date of birth) or an opinion about a person’s actions or behaviour.

Personal Data includes Special Categories of Personal Data and pseudonymised Personal Data but excludes anonymous data or data that has had the identity of an individual permanently removed.

Special Categories of Personal Data is information revealing racial or ethnic origin, political opinions, religious or similar beliefs, trade union membership, physical or mental health conditions, sexual life, sexual orientation and biometric or genetic data. Although Special Categories of Personal Data do not include information about criminal allegations, proceedings or convictions, there are separate safeguards relating to this type of information.

Pseudonymisation or pseudonymised is the replacing of information that directly or indirectly identifies an individual with one or more artificial identifiers or pseudonyms so that the person to whom the data relates cannot be identified without the use of additional information which is kept separately and secure.

What Types of Personal Data May We Collect?

Name;
Age/date of birth;
Contact information and user preferences;
Other information that may be on Your identification documents that You provide to Us;
Information pertaining to You retained by Our payment service providers or similar payment mechanism processors (“PSPs”);
Credit and debit card (sometimes, collectively, “Card”) information and payment details, processed and stored through a certified payment vendor;
Bank account details;
Source of Funds and wealth information;
Contractual details including goods and services provided;
Copies of documents You provide to prove Your age or identity;
Device/Electronic identification data (the type of computer, tablet, mobile phone or other device that You use (“Device”) and unique Device identifiers such as Your IP address, Device’s IMEI number, the MAC address of the Device’s wireless network interface, and the mobile phone number, network and operating system used by the Device);Content data (information stored on Your Device related to Our service including login information, photos, videos or other digital content and check-ins);
Location data (We may utilise GPS technology to determine Your current location);
Usage data related to Our service (this includes details of Your use of the Gilded App (and any additional apps We may develop) and Your visits to the Gilded Website (and any additional websites We may develop) including but not limited to traffic data and other communication data and the resources that You access);
Information collected through cookies (discussed more fully below);
Address information;
Employer information; and/orAny other information that is required to supply Our service to You.

For further information on the types of Personal Data that We hold, please contact Us via email at gilded.support@gildedco.com.

How and why do we collect personal data?

We collect Personal Data, for example, when You access the Gilded Website, download or install the Gilded App, become a Customer and create Your Account, place an order respecting gold (or potentially other products or services), make contact with Us (including making a complaint), enter a promotion or referral program, complete a survey We send, provide a product or service review and register to receive information about Our competitions, products, services and offers.

We collect and process Your Personal Data based on one or more of the following reasons/legal bases:

It is necessary for Us to perform under these Terms and Conditions and with respect to You, the Customer;
You have given Us consent to process Your Personal Data for a specific purpose (for example, to provide You information about Our competitions, products, services, offers and news);
The processing is necessary for Us to comply with Our legal obligations (for example, to conduct KYC/AML checks); and/or
We have a legitimate interest to do so, and have taken Your rights into consideration (for example, to obtain feedback on Our products and services, to better understand You as a Customer and to operate a promotion or referral program designed to reward existing Customers and bring in new Customers).

As referenced above, We have a legitimate business interest (and in some cases a legal obligation) to process Personal Data in order to better know Our Customers. To do this We may combine the data that We collect directly from You from Your interactions with Gilded with data that We obtain from third parties.

We also have a legitimate business interest, for example, to help ensure that We provide products and services that are most relevant to the interests of Our Customers, keep Customers informed and ensure that the information that We send them via email, text messages (SMS), WhatsApp, other electronic means, posted mail, phone or otherwise (sometimes, collectively, “Contact Means”) is relevant to their interests. To opt-out of profiling and personalised direct marketing, update Your contact preferences. You are able to opt out, and update Your Personal Data, at any time by contacting Us.

We will not reuse Your Personal Data for a new purpose other than for what it was originally collected unless the new use is compatible with the original purpose for which the Personal Data was collected, We have notified You of the new use and given You a reasonable opportunity to object to it, and the new use is otherwise permitted or required by law.

Please note that if You do not share Your Personal Data or adjust Your contact preferences, We may not be able to provide You or may have to stop providing You with the information, products or services that You have requested.

We may collect data through various vendors that We contract with to provide Us services related to payments, identity verification, KYC/AML, fraud detection and other similar services. These vendors have their own Terms and Conditions, privacy policies and cookie policies. In addition, these vendors may act as “data controllers” or “data processors” under relevant data protection law, such as the Data Protection (Jersey) Law 2018. You may find more information about these matters and the policies of these vendors at their respective websites which are as follows:

Au10TIX – www.au10tix.com
DocuSign – www.docusign.com
JTC – Jersey Trust Company – www.jtcgroup.com
Khosla Labs – www.khoslalabs.com
Kount – www.kount.com
Paytm – www.paytm.com
Regulatory Data Corporation (Moody’s) – www.bvdinfo.com
Worldpay by FIS Global – www.worldpay.com

The foregoing list may be over-inclusive or under-inclusive at any given time. For further information on how and why We have collected Your Personal Data, and up to date list of current data-processing or data-controlling vendors, please contact Us.

Use of Cookies

When You use the Gilded App and visit the Gilded Website, Your Device/electronic identification data is logged to track Your session. This is automatically recognised by Our servers and is used for system administration, to provide You with a good experience and to provide statistics, which Gilded uses to evaluate and improve use of the Gilded App and the Gilded Website.

We collect data which includes details of Your use of the Gilded App and the Gilded Website. This includes, but is not limited to, traffic data, advertising data, other communication data and the resources that You access. Some of this data is gathered from the use of cookies, which are also sometimes used to distinguish You from other Customers and users.

Cookies are small text files made up of letters and numbers that are stored on Your Device when You visit particular webpages.
We use the following cookies:

Strictly necessary cookies. These are cookies that are required for the operation of the Gilded App and the Gilded Website. They include cookies that enable You to log into secure areas of the Gilded App and the Gilded Website and make use of Our purchasing, storing and selling services.

Analytical/performance cookies. These allow Us to recognise and count the number of visitors on, and to see how visitors move around on and use, the Gilded App and the Gilded Website. This helps Us to improve the way the Gilded App and the Gilded Website work, for example, by ensuring that Customers and other users are finding what they are looking for easily.

Functionality cookies. These are used to recognise You when You return to the Gilded App and the Gilded Website. This enables Us to personalise Our content for You, greet You by name and remember Your preferences.

Targeting cookies. These cookies record Your visit to the Gilded App and the Gilded Website, the webpages You have visited and the links You have followed. We will use this information to make the Gilded App and the Gilded Website and the advertising displayed on it more relevant to Your and other Customers’ interests. We may also share this information with third parties for this purpose.

Your Device will need to accept cookies to enable online transactions and the personalised features found on the Gilded App and the Gilded Website.

Your Device can be used to restrict, block or delete cookies from the Gilded App and the Gilded Website, or any other platforms, if You would prefer this. This ability differs from Device to Device, so please consult Your Device’s ‘help’ documentation. Alternatively, You can visit www.aboutcookies.org for more information on how You can delete and control the cookies that are stored on Your Device. If You would like to opt out of advertising cookies, please be aware of the following websites that may assist You in doing so:

Network Advertising Initiative website – http://www.networkadvertising.org/; Digital Advertising Alliance website – https://youradchoices.com/pmc; Federal Trade Commission – https://www.consumer.ftc.gov/articles/how-protect-your-privacy-online.

The data that We collect and share through the use of cookies is typically anonymous and not personally identifiable. For example, it does not typically contain Your name, address, telephone number or e-mail address.

Third-Party cookies
When You visit the Gilded App and the Gilded Website You may notice some content that isn’t related to Us. If You visit a page that contains content which is embedded from other organisations, such as YouTube, Google, Facebook and others, You may be sent cookies from these organisations. We do not control these cookies and We would suggest that You visit these organizations’ websites to view information about their cookies and how they are used.

We do have relationships with select suppliers who may also set cookies during Your visit to be used for marketing purposes, such as showing You Our services and products if the supplier believes You may be interested in them.

Social Media sharing
If You share Our content with friends through social networks such as Facebook and Twitter, You may be sent cookies from these platforms. We do not control the setting of these cookies, so We suggest You check these third-party websites for more information about their cookies and how to manage them.

Identifying Yourself

You undertake to identify Yourself prior to making a transaction on Your Account. You authorize Us to make such enquiries as We may feel necessary to satisfy Ourselves about the validity of Your identity.

You will need to provide Gilded with such information as required or requested in relation to these Terms and Conditions and becoming a Customer, including all information required to comply with all applicable laws and regulations (such as KYC/AML regulations). In particular, You undertake to provide acceptable photographic proof of identity and proof of address.

During the period Your Account is open You agree to provide additional or updated documents or information about You which may be needed for Us to maintain accurate records in accordance with applicable law and regulations.

You accept that Your documents should be written in English. Where this is not so You undertake to provide certified translations along with Your documents, at Your expense.

Reviewing the Source of Your Incoming Funds

You permit Us or Our PSPs to review Your banking details and check them against identity documents when these are supplied by You, Your bank or Your Card provider when You make a payment.

If You Fail to Validate Your Account

A validated Account is a prerequisite to becoming and remaining a Customer. You understand and accept that a persistent failure by You to validate Your Account, after having received reminders, may incur penalty charges and could lead to the suspension or closure of Your Account. These account validating reminders will seek information about You, including possible KYC/AML refresher data and supporting documentation.

We acknowledge that no such penalty charges will be applied where it is clear You are making a genuine effort to validate Your Account but are being prevented from doing so by circumstances beyond Your reasonable control.

You understand and accept that were You to fail to validate Your Account in suspicious circumstances then Gilded would be legally obliged to notify AML authorities, without notifying You.

Gilded will not be responsible for, and You hereby hold harmless and indemnify and keep indemnified Gilded against, any and all losses and costs which arise out of Your failure to identify Yourself and validate Your Account promptly.

Contact Details

You accept a duty to keep Your name, address and other contact details held by Us up to date and accurate. Gilded is entitled to rely on the accuracy of the details You have supplied.

You accept that Your failure to maintain Your contact details correctly may negate some of the protections You seek in Gilded. Gilded will not be responsible for, and You hereby hold harmless and indemnify and keep indemnified Gilded against, any and all losses which arise out of Your failure to maintain Your contact details correctly.

What Details of Your Activity are visible to You?

Your gold is held in an insured vault (“Vault”). Vault Bar Lists are produced by the Vault operator (“Vault Operator”) and reconciled to the gold holdings of Gilded Customers at that Vault. We provide transparency to Your specific ownership through a digital warehouse receipt, picture of Your gold bar with identifying markers and an immutable blockchain record, as more specifically discussed below. A digital warehouse receipt is a document We provide to You containing such important information about Your gold as Your Account number, gold amount, bar serial number and Vault location.

Security & Privacy

Your Account and Password

You will be provided with and/or create a user identification name, code, password and possible other pieces of information as part of Our security procedures. You must treat such information as confidential. You must not disclose it to any third party.

We have the right to disable any user identification name, code or password, whether chosen by You or allocated by Us, at any time, if in Our reasonable opinion You have failed to comply with any of the provisions of these Terms and Conditions.

If You know or suspect that anyone other than You knows Your user identification name, code or password, You must promptly notify Us at: gilded.support@gildedco.com.

Communication Between You and Us

Contact Gilded through email at gilded.support@gildedco.com.

Transmissions

You accept that during a logged-in session on the Gilded App or the Gilded Website all data which pass between You and Us, in either direction, are passed across the internet using the https protocol, which incorporates a level of security widely accepted as offering very reliable privacy and accuracy in data transmission.

Email

You accept that Gilded may send off-line information to You by email, including but not limited to, acknowledgements of changes to Your key Account settings, login notifications, order confirmations, execution advices, price alerts and changes to these Terms and Conditions.

You may not unsubscribe from emails relating to Your Account and its administration while a Customer. We may also send You general information regarding updates to Our products and services. You may unsubscribe from these general updates by following the instructions included in such emails.

It is Your responsibility to ensure that You have a reliable email service provider that allows messages from Gilded and properly displays them to You in a timely fashion.

Gilded is entitled to rely on Your receipt and acceptance of the content of an email if a) We do not receive an automatically-generated notice of non-delivery within one (1) hour following transmission and b) within three (3) calendar days of the transmission We do not receive a response from You.

In the event that You communicate an issue with content of an email within three (3) calendar days of transmission any resolution will be considered in the context of the delay, which You accept may have a bearing on the value of any resolution proposed either by Us, or through arbitration processes (as described below in Governing Law and Arbitration).

You understand and accept that email is not encrypted and that it operates with a similar degree of privacy as physical post, in that a network engineer, like a postman, has the ability to see email and attachments if he chooses to open Your mail. You accept and understand that easily comprehended open format feedback to a known and used address is appropriate for reporting Your completed business to You, off-line, and after the event.

We are not responsible for losses You may incur as a result of any email not being delivered in circumstances beyond Our direct control.

If Your Account diminishes in size below a level at which it is reasonable to communicate via email We reserve the right to suspend such outputs.

Mail

We may send information to You by mail to Your address in Our records. Gilded is entitled to rely on Your receipt and acceptance of the content of posted communications if within seven (7) calendar days of the communication being sent no rejection of the information by You has been received by Us.

We are not responsible for losses You may incur as a result of mail not being delivered in circumstances beyond Our direct control.

If Your Account diminishes in size below a level at which it is reasonable to communicate via mail then We reserve the right to suspend such posted outputs.

Other Contact Means

Gilded may use other (non-email and non-mail) Contact Means on mobile phones, such as SMS (text) or phone calls, as a means of contacting You rapidly.

We are entitled to rely on Your receipt and acceptance of the content of any such Contact Means communications if within ten (10) minutes of the transmission no rejection of the information has been received by Gilded. We are entitled to rely in this regard on the accuracy of Our own transmission records.

Gilded is responsible for initiating any such Contact Means communications correctly according to the settings on Your Account and ensuring that they are received by the relevant technology provider. But We are not responsible for losses You may incur as a result of any such Contact Means communication not being delivered in circumstances beyond Our direct control. This might occur if Your mobile phone was switched off or was operating in a zone or on a service technology which was not reachable via the relevant technology providers.

If Your Account diminishes in size below a level at which it is reasonable to communicate via such Contact Means We reserve the right to suspend such outputs.

Buying Gold

Two sources of payment are available to fund a purchase of gold on the Gilded App. First, Cards may be used to contemporaneously fund a purchase. Your Card must be of a type accepted by a PSP we have an established relationship with, and in most jurisdictions You will be required to enable international payments on Your Card. Second, Your Available Funds Balance (defined below) may be applied to fund a purchase.

When making a purchase on the Gilded App You will first be prompted to specify the quantity of gold You wish to buy or the amount of currency You wish to spend on Your gold purchase. All purchases are based on the Gilded market price for gold, to which Fees are added. These Fees include a Gilded administrative Fee, passed-through PSP and Card provider Fees, and storage fees (currently waived). Purchasers will see the total purchase price, comprised of the Gilded market price and Fees, on the Gilded App prior to confirming their purchase.

You may be required to provide evidence of Your source of Funds and wealth in relation to any purchased gold and We will contact You where this is required. Where We request this and You are unable or refuse to provide the required evidence, We may return the Funds and cancel any purchase.

If Your Card provider, and/or Your bank, charge You processing, wiring or other fees directly, You will be responsible for paying those. You should contact Your bank or Card provider to confirm any charges which they may impose before making a purchase.

For certain, materially large purchases, We may agree to different pricing and payment procedures.

You accept and acknowledge that in all aspects of the gold buying process, Gilded acts solely as Your agent to enable and facilitate Your gold purchases.

Selling Gold

When making a sale on the Gilded App You will first be prompted to specify the quantity, or currency value, of gold You wish to sell. All sales are based on the Gilded market price for gold, from which a Gilded administrative Fee is subtracted. Sellers will see the total sale price, comprised of the Gilded market price and administrative Fee, on the Gilded App prior to confirming their sale. Net proceeds from gold sales are transferred to Your Available Funds Balance.

For certain materially large sales, We may agree to different pricing and payment procedures.

You accept and acknowledge that in all aspects of the gold selling process, Gilded acts solely as Your agent to enable and facilitate Your gold sales.

Available Funds Balance and the Safeguarding Account

Your Available Funds Balance represents the Funds available to You from either of two sources. First, it contains the net-of-Fees proceeds from Your gold sales. Second, it contains any Funds You have transferred to it from Your bank in order to pre-fund purchases. Your Available Funds Balance is held in a separate account by a bank that segregates all of Our customers’ Funds from the bank’s funds. This separate account is also segregated from all Gilded operating accounts.

Your Available Funds Balance may remain in the safeguarding account, be used by You to fund purchases of gold or be transferred to Your bank upon Your request. You can always see the amount of Your Available Funds Balance on the Gilded App.

You acknowledge that Funds credited to Your Available Funds Balance will be net of any outstanding Fees owed to Us, which We are entitled to deduct.

You accept that in selecting the bank that holds Your Available Funds Balance, We have taken due care in ensuring that such entity is a licensed, accredited financial institution of adequate standing. You also accept that the payment of Funds back to You upon a sale of gold may come from a different bank account than the one Your Funds were deposited into.

Gilded is permitted to deploy Your Available Funds Balance exclusively for the following purposes:

To purchase gold for You, as instructed by You ;
To transfer sale proceeds back to You, as instructed by You; and/or
To pay Us in respect of service and other Service Provider charges according to these Terms and Conditions and any outstanding Fees.

You understand and agree that We will not pay interest on either Your gold balance or Available Funds Balance. You accept and acknowledge that in all matters pertaining to Your Available Funds Balance, including the payment process for buying gold, Gilded acts solely as Your agent.

Gilded will not be responsible for, and You hereby hold harmless and indemnify and keep indemnified Gilded against, any and all losses which arise out of Our following Your instructions with respect to Your Available Funds Balance.

Your Card and Available Fund Balance

You agree that You will not merge Funds belonging to different parties within a single Gilded Account.

You agree that You will not pay Funds in any manner which obscures the source of Your Funds. For example, You will not pay Funds, bankers’ drafts or make anonymous/unreferenced credits at a counter. All Your payments must come from a clearly identifiable source.

You accept You must only make a Card payment with a Card registered in Your own name or make a Funds transfer into Your Available Fund Balance from Your bank.

You accept that Gilded retains the right to ‘bounce back’ Funds to the originating payment Card, or originating bank, if insufficient information is provided regarding the source of those Funds. Whenever this occurs, You accept that We are entitled to charge You a Fee. You also accept that the bank(s) and payment providers involved in returning those Funds may deduct a fee which will not be refunded by Us.

If You have purchased gold with a Card that We determine is not registered in Your own name, or with Funds that We determine have come from an account other than Your bank account, We reserve the right to sell Your gold and return the Funds to that account and to assess against You any charges We may incur.

Gilded will not be responsible for, and You hereby hold harmless and indemnify and keep indemnified Gilded against, any and all losses which arise out of Your failure to fund Your Account directly and identifiably from Your own Funds.

Transferring Funds to Your Bank

Should You wish to transfer some or all of Your Available Funds Balance to Your bank, You can request a transfer on the Gilded App. You will be prompted to enter Your bank information and the amount to be transferred. Applicable Gilded bank transfer fees are displayed before You confirm the transfer, and Gilded will perform diligence that seeks to ensure that the bank account beneficiary is the same person as the Gilded Account holder. Your bank may charge an additional fee. Transferred Funds will usually reach Your bank account within a maximum of two business days of Your confirmed request.

You acknowledge that any outstanding Fees or obligations will be deducted by Us before any Funds may be wired to You.

Provided that We are satisfied with the security and details of Your bank account, We will remit Funds via CHAPS, BACS, ACH, UPI, IMPS or other banking system generally considered appropriate to the payment. We may offer You the ability or choice to use digital wallets such as PayTM, Google Pay, Phone Pe and others at Your discretion, and in these cases We will pass on any fees associated with their usage. Gilded is entitled to subtract bank and digital wallet transfer costs from the sum to be remitted.

If Your wire is to be received by a bank which is not itself a SWIFT participant You accept that a correspondent bank – being a bank in Your country which receives Funds via the international SWIFT transfer system and routes them to Your bank – may deduct from the Funds sent a fee consistent with normal international banking practice.

You accept that We may need to perform additional security checks and there may be some delay prior to sending You Your Funds. Any delay will depend both on the recent operation of Your Account and on other circumstances.

When You provide those bank account details You agree that You are requiring Us to remit Your Funds via the appropriate PSP to that bank.

Gilded will not be responsible for, and You hereby hold harmless and indemnify and keep indemnified Gilded against, any and all losses which arise out of Our wiring or sending Funds to the bank details You have provided Us.

How We Run Promotional or Referral Offers

From time to time We may choose to undertake promotional or referral offers. The applicable terms of such offers will be treated separately to these Terms and Conditions unless expressly stated otherwise.

Gilded reserves the right to claim back promotional or referral balances where it reasonably believes the Account has been set up to abuse the applicable terms of such offers.

Account Suspension and Closure

Gilded reserves the right to suspend or close any Account for reasons including, but not limited to:

We reasonably believe Your Account poses significant risk to You, itself or to other Customers;
We identify information provided by You as false or misleading, or You or someone else are using the Account illegally or fraudulently;
You have acted abusively or violently towards Gilded’s or its Service Providers’ staff;
You are in breach of these Terms and Conditions (or have failed to remedy a breach where We have asked You to do so); and/or
You publicly slander or inaccurately reflect Your experience with Us.

You acknowledge that the suspension of Your Account will prevent further gold withdrawals , deliveries, purchases or sales of gold. You accept that any applicable Fees will continue to be charged. You accept that Gilded is not under any obligation to disclose the details of its risk assessment to You.

If We suspend Your Account, it will not result in the expropriation of Your property. We will remove the suspended status from Your Account as soon as the reason for suspension is remedied.

If We close Your Account We will sell any gold in the Account and, if the Account has been validated and it is legal to do so, We will return the Funds balance to Your Linked Bank Account by bank transfer.

Confidentiality and Money Laundering

Gilded, the Gilded App and the Gilded Website are not intended to be a resource for money laundering, terrorist financing or any other unlawful or prohibited purposes (“ML Purposes”) and may not be used for ML Purposes. We will not tolerate any attempted or successful use of Gilded, the Gilded App and/or the Gilded Website for ML Purposes and will report to the relevant authorities and regulators any such use or attempted use. Moreover, We may report to the relevant authorities and regulators any suspect persons or entities identified during Our KYC/AML processes. By Your acceptance of these Terms and Conditions You represent and confirm on a continuing basis that You will not utilize Gilded, the Gilded App and/or the Gilded Website for ML Purposes, and You will be liable for any charges levied by any third party Service Provider related to such activity.

For reasons relating to both security and KYC/AML legislation, We require gold purchase payments to come from a payment mechanism registered to You.

For reasons relating both to security and KYC/AML legislation, Gilded requires the exit of Funds to Your bank account.

Gilded recognises Your right to confidentiality where Your identity has been validated. However, as noted, where for whatever reason We become suspicious of an attempted use of Your Account for ML Purposes, You understand that We will actively assist the appropriate authorities in their efforts to detect and prosecute it. Gilded also keeps comprehensive records of Funds and gold dealing activity in order to assist the authorities in this regard.

You agree that Our decisions in the KYC/AML area will be final and not subject to review. You also understand that We are under no obligation to explain the reason for such decisions.

Care of Your Gold

Form

As Your agent, Gilded accepts assayed Swiss gold bars as good delivery from recognized market professionals according to the practices which exist in the local market.

This gold is held as weighed and numbered bars in a form generally acceptable in settlement of local gold market sales.

Swiss gold bars constitute investment gold (as defined by the London Bullion Market Association (LBMA)) being not less than 99.99% purity and of a weight and manufacture accepted by the international gold markets.

Gilded accounting units of gold, in line with standard gold-market practice, are expressed in fine gold content. The fine gold content of each bar is its weight multiplied by its purity.

Warranted Gold Content

Gilded warrants that every gram of gold in Your Account is a gram of the 100% fine gold content of a 99.99% (or greater) assayed gold bar held in the relevant Vault.

Any breach of this warranty shall be remedied by Gilded itself arranging a replacement through the procedures of the international gold markets, or, failing that, by replacing any shortfall or substandard material out of its own Funds.

Vault Operators

Each Vault Operator utilized by Gilded is a professional organization of the highest reputation which is in the business of managing the receipt, storage and re-delivery of gold bars according to the practices of the international gold market.

You accept the Vault Operator(s) engaged by Gilded and accept the Vault location(s) selected by Gilded. For certain materially large customer gold holdings, we may, but are not obligated to, agree to a customer’s wish to use a different Vault location offered by an existing, engaged Vault Operator.

Each Vault Operator has warranted to Gilded that its status within the gold industry permits gold stored within its Vaults to retain the high levels of integrity expected by the international gold market.

Your Gold is Allocated to Your Unique Sub-Account Number

Your gold is held in Vaults controlled by each Vault Operator pursuant to a precious metal storage agreement executed between Gilded and each Vault Operator (the “Storage Agreement”).

In each Storage Agreement, the Vault Operator acknowledges that Your gold is held with Your unique gold sub-account number.

Specifically, the Vault Operator will establish sub-accounts of gold using the gold designated account number allocated to You by Gilded on Your purchase of the gold (each such account being a “Sub-Account”). In no event will any Sub-Account be held in any name or list any party other than You and in no event will any Sub-Account be held in any name or list any party other than You along with Your gold designated account number.

Gilded will not provide any Sub-Account information, other than quantities and Your gold designated account number, to the Vault Operator unless required to do so by law or pursuant to an order of a court of competent jurisdiction. Both Gilded and the Vault Operator acknowledge and agree that:

legal title in relation to the gold in the Sub-Accounts is held by the relevant Customers; and
neither party shall have any legal right, title or interest in any such gold.

Gilded undertakes to pay fees to the Vault Operator as instructed by You and for and on Your behalf to cover the costs of storage and insurance of Your gold and thereby provide the storage service provided by the Vault Operator.

Should Your account remain dormant for three (3) years, Gilded reserves the right to contact You to request that You instruct Gilded (at Your sole option and discretion) to:

(a) move Your gold to another Vault Operator of Your choice (at Your cost, risk and expense);

(b) sell Your gold at the Live Sale Price to a purchaser and We would then send You the proceeds; or

In the event that You fail to respond within thirty (30) days of Our contacting You, Gilded are entitled to commence charging You Fees for vaulting and for handling Your gold with immediate effect at the then applicable Fees charged by Us and You shall discharge those Fees within thirty (30) days of invoice. Our invoices shall accrue interest on any sum due to Us, calculated as follows:

(i) Rate. Four (4) percent a year above the Bank of England’s base rate from time to time, but at four (4) percent a year for any period when that base rate is below zero

(0) percent; and

(ii) Period. From when the overdue sum became due, until it is paid.

We confirm that Your gold safekeeping is structured as direct legal and beneficial ownership within a professional gold Vault.

The Status of Your Gold

You agree that when Your purchase of gold is transacted through the Gilded App, the gold purchased is to be delivered within the Vault Operator’s premises.

From that point onwards, the Vault Operator has agreed to act as physical custodian of Your gold until terminated at Your instruction submitted exclusively via Gilded.

You agree that when Your sale of gold is transacted through the Gilded App, the gold sold is to be delivered to the purchaser, on Your behalf, as per Your instruction submitted exclusively to Gilded. Furthermore, You agree that You will not be able to submit instructions directly to the Vault Operator or expect the Vault Operator to provide information or physical withdrawal directly to You except through Gilded.

Gilded will provide You a digital warehouse receipt each time You purchase or sell gold. Your ownership will be evidenced as discussed below in Ownership Records.

You acknowledge that Your ownership does relate to a specific bar but also to a specific quantity of gold in a specific Vault. Gilded acknowledges that the gold You own exists, is in the specified Vault, is Yours, and that, being physical, it is ultimately capable of being sub-divided into measurable amounts of gold which You could withdraw, subject to paying the physical withdrawal, fabrication and other related Fees.

Gilded Storage Agreement(s) with the Vault Operator(s)

You authorize Gilded to act as Your agent for arranging custody of Your gold with the Vault Operator and to contract with the Vault Operator to provide Vault services. We confirm to You that in each “Storage Agreement” it is acknowledged by the Vault Operator that the gold stored under the agreement is allocated and is the property of Gilded Customers.

Gilded confirms to You that in each Storage Agreement it is acknowledged by the Vault Operator that this allocated gold shall be specifically identified, and physically segregated at all times.

Gilded confirms to You that a minimum of three (3) months’ notice from a Vault Operator is required to terminate the Storage Agreement. In the event that such notice has been received by Us, and if no alternate storage solution has been put in place in the intervening period, then a minimum of two (2) months prior to the termination of the storage service We undertake to inform You of the situation, thereby allowing You such time as You may need to arrange an alternate mechanism for owning and storing Your gold.

Insurance

Your gold is insured against loss, damage and destruction according to the accepted insurance standards of the gold industry.

Gilded confirms to You that in each Storage Agreement the Vault Operator undertakes to provide documentary Evidence of Insurance.

Ownership Records

Gilded maintains the master copy of ownership records utilizing the Linux Foundation Hyperledger blockchain solution. Gilded confirms to You that in so far as they relate to You these records shall only be updated upon the execution of Your valid instructions, made according to these Terms and Conditions. Gilded has no ability to amend information previously logged to the blockchain.

Gilded ensures that at all times no less than the minimum number of required blockchain nodes will be in operation to ensure the integrity and security of the records database.

Gilded makes viewable access to the blockchain available to both its auditors and the Vault Operator. Neither can interpret or manipulate this data or are responsible for updating specific information as part of their ongoing activities (such as bar lists, purity and weigh information).

Storage Fees

Gilded charges storage fees on Customer gold account balances; however, all storage fees are currently waived. Storage fees will not be re-instated without Us providing a minimum thirty (30) calendar day notice.

How We Treat Small Gold Balances Derived from Promotions

If a non-Customer participates in a Gilded promotion, such non-Customer agrees to be bound by the terms of the promotion and by these Terms and Conditions. In particular, such non-Customer will need to become a Customer and establish an Account, inclusive of all KYC/AML procedures, prior to receiving any awarded gold.

Gilded reserves the right to claim back promotional balances where it is believed that the Account has been set up to abuse the promotion. We reserve the right to stop a promotion at any time and without prior warning.

Gold Withdrawal and Delivery

You own gold stored in a Vault in Zurich or New York.

You have the right to make an in-person withdrawal of Your gold from the Vault it is stored in. However, You may not seek withdrawal directly from a Vault Operator. Instead, You must lodge Your request with Gilded for Us to coordinate Your visit with the Vault Operator. A withdrawal Fee will be charged and You will also have to pay charges if fabrication is required. You acknowledge that any outstanding Fees must be cleared before You withdraw Your gold.

You may request delivery of Your gold; however, the related processes are expensive and time consuming and such requests will be considered on a case-by-case basis. Delivery may also be restricted or prohibited by Your home country. You may not seek delivery directly from a Vault operator. Instead, You must lodge Your request with Gilded for consideration and approval. Should Your delivery request be approved, associated Fees shall apply. You understand and accept that these Fees will vary according to the type and size of gold bar You are having delivered and the Vault and delivery location. You acknowledge that any outstanding Fees must be cleared before any gold will be delivered to You.

If a given delivery is approved, it will be made to a bank that You have identified (the “Destination Bank”), but only after additional KYC/AML and bank verification processes have been completed. You will also need to take steps to confirm Your acceptance of the terms of delivery, which include the terms and conditions set forth in the transport and delivery contract of the gold courier that will make delivery to the Destination Bank.

You accept that a person at the Destination Bank who regularly receives packages there will be entitled to sign for the delivery of Your gold, and that the courier will be entitled to rely on such signature as evidence of receipt and condition of the package. You accept further that the terms and conditions of the courier’s transport and delivery contract include, among other matters, provisions addressing inspection of the delivered package, limitations on liability of the courier and associated risks to be accepted by You.

Gilded agrees with You that We are responsible for paying the courier’s ordinary charges out of the delivery Fees charged to You upon Your request for withdrawal and delivery. But You acknowledge that You may still be liable for any customs, tax, delivery, release or other charges which may be applied as a result of action by any government agency or otherwise in the course of making Your delivery. Whether such charges are applied to You upon receipt, or by demand to Gilded, You indemnify Us against those charges.

You accept delays which may arise as a result of action of government agencies. Any dates quoted for delivery are approximate only, and the time of delivery is not of the essence. We shall not be liable for any delay or failure in delivery of the gold that is caused by an Event Outside Our Control (as defined below). You will be responsible for obtaining, at Your own cost, such import licenses and other consents in relation to the gold as required from time to time.

You agree that should the Destination Bank fail to take delivery of the gold, We will take such steps as we deem necessary, including assessing additional fees against Your Account in order to return Your gold to the Vault.

We are not responsible for Your or the courier’s or Your Destination Bank’s failure to follow any of these procedures respecting delivery of gold.

In addition, You may be required to hold harmless and indemnify Us against identity fraud through the purchase of appropriate insurance.

Upon withdrawal and delivery of Your gold, You accept that You may become liable for taxes and associated charges and You permit Gilded to deduct those taxes and charges where appropriate and if so required.

You understand that Gilded does not purchase back gold once withdrawn from the Vault and delivered to Your Destination Bank.

You also accept and acknowledge that Gilded only acts as Your agent in connection with a delivery.

Your Rights in the Event Gilded Ceases Operations

Should Gilded no longer continue to operate, Your gold remains Your property and the record of ownership remains independently recorded and immutably retained within the Linux Foundation Hyperledger blockchain.

The cessation of operations of Gilded would not affect Your property rights with regard to Funds or gold, but it would be likely to create some inconvenience and delay for You in taking hold of that property.

How We Process Your Orders

You acknowledge Your competence to purchase and sell gold.

You understand that You may enter orders to purchase and sell gold on the Gilded App, at quantities, and in amounts, under Your control, subject to meeting the conditions set forth above in the respective “Buying gold” and “Selling gold” sections. You understand that all orders will be transacted based on the Gilded market price for gold. You agree that Your orders are to be submitted to Gilded’s servers by You via the Gilded App unless otherwise agreed in writing by You and Us with respect to certain materially large purchases or sales.

Order Validation

Our various order processes require You to check and amend any errors, and to approve all details prior to confirming an order. You must take the time to read and check Your order at each stage of the order process. Once Your order is placed and confirmed, it is final and irrevocable.

We will acknowledge Your order by sending You an e-mail and/or electronic notification via the Gilded App.

In the unlikely event of a Gilded App error (for example, a pricing error) We will inform You by e-mail and/or electronic notification via the Gilded App and We will not process Your order. If We have processed the related payment, We will promptly refund You in full as soon as is reasonably practicable.

Order validation in the case of certain materially large purchases or sales may require written agreement between You and Us.

Live Prices

Subject to Our service being available, We will permit You to place purchase orders to be filled at the Gilded market price provided that a) We have received Funds clearance from the relevant PSP or b) sufficient Funds are in Your Available Funds balance. Sale orders will also be filled at the Gilded market price, provided the gold required to settle Your transaction is reserved in Your Account.

You accept that Your transaction price may be quoted in multiple currencies, such US dollars, pounds sterling or euros, and then converted to Your local currency at the applicable foreign exchange rate.

You accept that You will not be able to place a limit price on Your purchase and sell orders, but acknowledge that the Gilded market price quoted at the time You initially enter Your buy or sell order will be the execution price of Your transaction if You confirm Your transaction in the five-minute time period allowed by the Gilded App.

You understand the Gilded market price may include the addition of a premium relating to attaining physical bars of gold in Switzerland as determined by market circumstances.

You accept any prevailing delay in settlement of gold into the Vault (for example caused by weekend orders when the market is closed) and understand that You will not be able to sell any pending-settlement gold until physical gold has settled into Your Account.

You accept that any such orders will not be eligible for chargeback claims. If You make such a claim, and such claim is denied, You are liable for an additional chargeback administration Fee.

Dealing Advice and Contract

Gilded will acknowledge executed orders and parts thereof to You via email and/or electronic notification via the Gilded App shortly after each execution occurs.

Delivery & Settlement – Daily Price Transactions

Settlement of Your purchase or sale of gold will usually occur within one minute of Your confirming Your transaction. By settlement, We mean the allocation of gold at the Vault following a purchase or the availability of Funds appearing in your Available Funds Balance following a sale.

For the avoidance of doubt, physical delivery and settlement of Your gold purchase always occurs at the Vault and not at the Destination Bank or any other location. Under no circumstances should You expect the physical gold that You purchase from Gilded through the Gilded App (or otherwise with respect to certain materially large purchasers or customer gold holdings) to be delivered to the Destination Bank unless You have gone through any additional identity validation and KYC/AML processes, paid any outstanding Fees and paid the additional Fees associated with having Your gold delivered to the Destination Bank.

Gilded may at its discretion settle Your transactions early.

All Orders

Upon settlement of a transaction on the Gilded App a purchaser receives and becomes the owner of gold and a seller is credited with Funds. Similarly, a purchaser is debited Funds in exchange for gold and a seller makes delivery of its gold.

The delivery of gold in settlement is effected by book entry within a permissioned blockchain system and the issuance of a digital warehouse receipt. Your resulting gold balance is legally and beneficially owned by You and You alone.

We instruct each Vault Operator to custody and vault Your gold on Your behalf.

The payment of Funds is effected by book entry within the Linux Foundation Hyperledger blockchain.

Gilded instructs the bank and/or payment provider on Your behalf.

Your overall gold balance is composed of the sum of Your vaulted gold balance and Your unsettled gold balance. Your settled balance of Gold is held for You in storage by the Vault Operator(s). Your unsettled gold balance is applied to Your Vault Sub-Account balance when Your transaction settles.

Termination of This Agreement

The prevailing Terms and Conditions remain in effect until Your Account is closed.

You may close Your Account by following the steps outlined on the Gilded App and the Gilded Website.

In the Event of Your Death or Incapacity

In the event that You become incapacitated You permit Us to allow Your Account to be maintained on Your behalf by Your duly authorized party as identified below.

If You no longer have mental capacity, Your attorney/controller/deputy/guardian/intervener must inform Us as soon as practicable of their appointment and provide evidence of their appointment. Third parties that You grant access to Your Account, or who are appointed, may be subject to the same KYC/AML criteria as a Customer, including being subject to certain credit and personal identity and residency checks.

In the case of deceased Customers, a personal representative must inform Us as soon as practicable of their appointment and provide evidence of their appointment. A personal representative may be subject to the same KYC/AML criteria as a Customer, including being subject to certain credit and personal identity and residency checks.

Gilded undertakes to process Your Account in accordance with the instructions of Your authorized executors or administrators.

You permit Gilded to seek legal advice in the jurisdiction of Your estate’s administration, at the expense of Your Account.

Content and Information

Content provided on the Gilded App, the Gilded Website or via Contact Means is provided for general information only. It is not intended to amount to advice on which You should rely.

Although We make reasonable efforts to update information provided on the Gilded App, the Gilded Website or via Contact Means, We make no representations, warranties or guarantees, whether express or implied, that such information is accurate, complete or up to date.

Whilst We will make reasonable efforts to send out automated notifications as may be requested in respect of the Gilded App, We accept no responsibility for any failure or delay in respect of the sending of such notifications.

Changes to the Gilded App and the Gilded Website

We may update the Gilded App and the Gilded Website from time to time and may change the content at any time. However, please note that any of the content on the Gilded App and the Gilded Website may be out of date at any given time, and We are under no obligation to update it.

We do not guarantee that the Gilded App and the Gilded Website, or any content on it, will be free from errors or omissions.

Fees

In the event Our Fees for services You request or require are not published on the Gilded App, You should contact us. You will have the right and opportunity to review and accept these Fees prior to entering into a transaction.

System Availability and Downtime

The system is scheduled to operate continually except where planned software updates and maintenance is necessary, usually carried out on weekends. We will always provide an advance warning notice via the Gilded Website for planned downtime. There may also be planned service interruptions at other times where maintenance requires urgent action which cannot wait until a weekend. Such service interruptions will where possible be planned at times of lower Customer and public demand.

Where service interruption is planned, and You have an open order, Your order will ordinarily survive the service interruption.

When an unscheduled service interruption occurs and You have an open order, Your order will ordinarily survive. However, in some instances these orders may be removed at the resumption of the service and any un-completed element of the order will be treated as cancelled.

We will endeavour to keep You informed via the Contact Means when You have open orders during a period of unscheduled service interruption, but You accept that the nature of the service interruption may make it impractical for Us to do this.

You accept that service interruption is an unavoidable event on networked computers. You accept Our terms for handling service interruption vis-a-vis Your open orders. We will not be responsible for losses You may incur as a result of any such interruption.

External Regulation of Gilded

Gilded maintains an AML/KYC program that looks both to the Bank Secrecy Act and its implementing regulations administered by the U.S. Treasury Department Financial Crimes Enforcement Network (FinCEN) and to globally-developed standards. This program is designed to identify and control money laundering and terrorist financing risk and contains customer identification and verification processes.

There is no cost to You in reporting a crime and it is the duty of the relevant authorities to bring before the courts a case against Gilded or Our officers arising from a breach of law.

You understand and acknowledge that together with the whole of the London gold market, Gilded’s regulatory status is markedly different from the financial services industry.

Modern financial services businesses throughout Europe and America tend to be companies which deal in instruments generally called ‘securities’, and these are subject to increasing legal sophistication and regulation.

Because Gilded offers a credit-free environment, and because We deal in the absolute ownership of physical gold acquired on the spot market, and not paper based contractual rights extending beyond the normal settlement period of the spot market, We fall outside the defined scope of formal financial services regulation, as does the rest of the spot physical gold industry in London as an example.

The London gold market – which is the biggest in the world – is instead regulated by traditional property and common law.

We confirm that Your gold safekeeping is structured as direct legal and beneficial ownership within a professional gold Vault.

Correction of Errors

Record Keeping Error
In the event of administrative error, We are entitled after the event to make appropriate adjustments to records of Your Account.

Trading System Error
Neither Gilded nor You have the right to make profits from trading system failures.

Our Exclusions and Limits of Liability

(a) The following provisions set out the entire financial and legal liability of Gilded (including any liability for the acts or omissions of its employees, agents, sub-contractors, Affiliates and Service Providers) to You in respect of:

(i) any breach by Us of these Terms and Conditions;

(ii) Our performance or contemplated performance under these Terms and Conditions;

(iii) any other matter, claim or right of any nature whatsoever arising under or in connection with these Terms and Conditions;

(iv) any other matter, claim or right of any nature whatsoever arising out of Your being a Customer and/or using the Gilded App or the Gilded Website, including but not limited to, the purchase, storage, sending, sale, withdrawal and/or delivery of gold or the processing of any transactions involving gold and/or Funds for You by Us; and/or

(v) any representation, statement or tortious act or omission, including but not limited to negligence, arising under or in connection with these Terms and Conditions.

(b) All warranties, conditions and other terms implied by statute or common law are, to the fullest extent permitted by law, excluded herefrom.

(c) Nothing in these Terms and Conditions excludes or limits the liability of Gilded for any matter in which it would be illegal for Gilded to exclude or attempt to exclude its liability.

(d) Subject to paragraphs (b) and (c) above:

(i) Gilded’s total liability in contract, tort (including negligence or breach of statutory duty), misrepresentation, restitution or any other manner, arising out of, with respect to or in connection with the items set forth in paragraph (a) above or otherwise shall be limited to the value of Your gold from time to time deposited with or by Gilded;

(ii) Gilded shall not be liable to You for any pure economic loss, fall in the value of Your gold or currency, loss of profit, loss of business, depletion of goodwill or any other matter, in each case whether direct, indirect or consequential, or any claims for consequential compensation whatsoever (howsoever caused) arising out of, with respect to or in connection with the items set forth in paragraph (a) above or otherwise; and

(iii) We shall only be liable to You to the extent any liability is covered by, and not excluded under, Our insurance policies in place.

(e) In becoming a Customer You accept and agree that these Terms and Conditions define the entire business, service and/or other relationship between Gilded and You and that the only party You have a business, service and/or other relationship with by virtue of becoming a Customer is Gilded. Further, You accept and agree that You have no privity, contractual, business, service and/or other relationship with or expectations of Gilded’s Affiliates or Service Providers. Accordingly You fully and completely waive and surrender, and agree not to sue or bring legal action respecting, any matter, claim or right of any nature whatsoever that You may have against any Affiliates or Service Providers arising out of, with respect to or in connection with the items set forth in paragraph (a) above or otherwise.

Investment and Tax advice

All information provided on or available through the Gilded App, the Gilded Website or via Contact Means, is provided for general information purposes only and does not constitute investment or tax advice. Gold markets can be volatile, and the value of gold may go down as well as up. As such, investments in gold involve a degree of risk which may make them unsuitable for certain persons. Before making any investment decision, You may wish to seek advice from Your financial, legal, tax and/or accounting advisers. You should carefully weigh the risks associated with investing in gold considering Your own individual financial needs and circumstances.

We are not tax advisers and any information provided on the Gilded App and the Gilded Website in connection with the tax status of the gold is provided for general information only and should not be relied upon. Any underlying tax legislation is always subject to change. You should obtain any specific advice from Your tax advisers.

You are responsible for paying such local taxes and associated charges as are or may be applied with respect to Your being a Customer and/or using the Gilded App, including, but not limited to, those on gold purchases, storage, sends, sales, withdrawals and deliveries – these may be charged directly by Us when known by Us, or by the appropriate authorities.

Force Majeure – Events Outside of Our control

We will not be liable or responsible for any failure to perform, or delay in performance of, any of Our obligations that is caused by an Event Outside Our Control.

An Event Outside Our Control means any act or event beyond Our reasonable control, including without limitation, unscheduled closings of relevant gold markets, strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, adverse weather conditions, epidemic, pandemic or other natural disaster, failure of public or private telecommunications networks, impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport or the acts or omissions of suppliers, sub-contractors or Service Providers.

If an Event Outside Our Control takes place that affects the performance of Our obligations:

(a) We will contact You as soon as reasonably possible to notify You; and

(b) Our obligations will be suspended and the time for performance of Our obligations will be extended for the duration of the Event Outside Our Control.

Language

You are entitled to consider that reasonable care has been taken by Us in the translation into different languages of Our information and documents, and that these translations fairly reflect the underlying meaning of an original document in the reference language of Gilded, which is English. In the event of any differences between the English version of these Terms and Conditions and any non-English versions, the English version shall prevail.

You can contact Us in any language in which the Gilded Website is published.

You can make informal complaints in any language in which the Gilded Website is published.

You can make formal complaints in any language in which the Gilded Website is published.

You will provide a translation into English to enable the adjudicating arbitrator to assess Your complaint fairly in words submitted by You or Your translator.

Dispute resolution through arbitration shall take place in English and be communicated to You in English, and also in the language of Your complaint if You have provided a translator.

Governing Law and Arbitration

The law governing these Terms and Conditions and the provision of the Gilded service to Customers is the substantive law of England and Wales.

You and We agree to engage in good faith negotiations to resolve any dispute arising out of or in connection with these Terms and Conditions, Your being a Customer, Your use of the Gilded App or the Gilded Website or otherwise – this may be done via any of the Contact Means You and We agree to. Should any such dispute not be resolved via good faith negotiations, it shall be referred by Us to and finally resolved by arbitration under the London Court of International Arbitration Rules, which Rules are deemed incorporated in this clause. The number of arbitrators shall be one. The seat, or legal place, of arbitration shall be London, England. The language to be used in the arbitral proceedings shall be English. The law to be used in the arbitral proceedings shall be the substantive law of England and Wales.

You agree to comply with all relevant laws of any territory in which You make use of the Gilded service.

Other Important Terms

You may only transfer Your rights or Your obligations under these Terms and Conditions to another person if We agree in writing.

Each purchase, storage, send, sale, withdrawal and delivery or other transaction and these Terms and Conditions are, as agreed above, between You and Us only. No third party/other person shall have any rights to enforce any of its or their provisions against any other party (including but not limited to Gilded, Affiliates or Service Providers).

Each of the paragraphs of these Terms and Conditions operates separately. If any court or relevant authority decides that any of them are unlawful or unenforceable, the remaining paragraphs will remain in full force and effect. Headings used in the Terms and Conditions shall not affect the interpretation of these Terms and Conditions.

If We fail to insist that You perform any of Your obligations under these Terms and Conditions, or if We do not enforce Our rights against You, or if We delay in doing so, that will not mean that We have waived Our rights against You and will not mean that You do not have to comply with those obligations. If We do waive a default by You, We will only do so in writing, and that will not mean that We will automatically waive any later default by You.

Risk Warning Notice

The following lists contains certain risks Gilded considers material. It does not constitute a statement of all possible risks. You assume all risks pertaining to use of the Gilded App and the Gilded Website, and to the purchasing, selling and ownership of gold, unless specifically stated otherwise herein.

Risks Which are Not a Gilded Responsibility

Gold price movements — You are exposed to the risk of potential loss arising from a falling gold price during the time in which You own gold. This risk is not a Gilded responsibility and is a risk You accept and undertake.

Money politics — Governments and other agencies seeking currency stability, or for other reasons, might seek to constrain or tax the ownership of gold to the disadvantage of its owners. The actuality or fear of government action may affect the value of stored gold. The associated risks are not Gilded’s responsibility and are risks You accept and undertake.

Bank Collapse – as occurred during the financial crisis of 2008-09, and has occurred at other times, financial institutions may collapse, face liquidity crunches or other material disruptions, and they may enter insolvency, receivership or similar proceedings. Should such a situation arise with respect to the financial institutions We have chosen, for instance, to hold Customers’ Funds, it could hinder, compromise or eliminate Your ability to recover some or all of Your Funds. The associated risks are not Gilded’s responsibility and are risks You accept and undertake.

Identity theft — If Your Account is compromised, You are at risk of unauthorized access to Your Account. Any change of Your Account details of which We are aware would be acknowledged to You by Us. An attempt to bleed Your Account of value in favour of another Account would, to the extent reasonably possible, be reversed whenever advised to Us in reasonable time, and would lead to detection and prosecution of any criminal activity without gain. In these ways Gilded seeks to minimise the risks to You associated with identity theft but ultimately these risks are not Gilded’s responsibility and are risks You accept and undertake unless the breach of security can be shown to have occurred because of Gilded’s gross error.

Liquidity risk — Gold markets have at times, and may in the future, suffer from risks associated with market liquidity, which may in turn impact gold prices and Your ability to purchase or sell gold. These risks are not Gilded’s responsibility and are risks You accept and undertake.

System availability — Gilded’s computerized machinery, which is accessed by You through the Gilded App across the internet, might become inaccessible for periods of time. This could prevent You from executing a transaction which You would otherwise have made. The associated risks are not a Gilded responsibility and are risks You accept and undertake.

Insurance exclusions — Your Gold is Your property. As such, Your gold is subject to insurance exclusions imposed by underwriters in line with established insurance practice regarding the physical protection of gold. These risks are not a Gilded responsibility and are risks You accept and undertake.

Risks Which are a Gilded Responsibility

Certain duties of care — Gilded accepts it has duties of care with regard to certain aspects of risk concerning Your gold and undertakes to manage risks so as to contain them at minimal levels, consistent with best business practices.