1. Legal Entity

Gems & Gold Pte. Ltd. uses the names of “Gems & Gold”, "Gems & Gold" or “G&G" on the web site www.gemsandgold.com.sg These names refer to the company Gems & Gold Pte. Ltd., incorporated in Singapore with company registration number 201129832G.

2. Acceptance of Terms and Conditions

By placing an order with Gems & Gold Pte. Ltd. (Gems & Gold), the Customer confirms that he/she has read and accepted the Terms and Conditions as stipulated in this text. Unless explicitly specified, these Terms and Conditions apply to all orders regardless of whether the orders are placed through the website, in person, by telephone, by e-mail or otherwise. Unless explicitly specified, these Terms and Conditions also apply to all orders regardless of which location or jurisdiction products or services are offered. By placing an order with Gems & Gold, the Customer agrees to the Terms and Conditions stipulated in this text.

3. Variation

Gems & Gold may amend or vary these Terms and Conditions at any time by posting a revised version on its website. The revised version will be effective upon posting.

4. Interpretations

Agreement variously means the binding agreement entered into when a Customer place an Order with Gems & Gold that a Customer enters into.

Gems & Gold means Gems & Gold Pte Ltd., a Singaporean company.

Order means a purchase or sale placed by a Customer, either online, in person, via phone, via email or via any other method of communication that has been accepted by Gems & Gold.

Bullion means bullion bars and coins, in gold, silver, platinum or palladium in physical form.

NETS payment means a payment made using the Singapore based Network for Electronic Transfers (NETS).

5. Terms and Conditions when a Customer is Buying from Gems & Gold

The prices of the products offered by Gems & Gold follow the spot-price for precious metals as well as other price mechanisms. Gems & Gold reserves the right to reject orders placed by Customers who have not paid for previous orders within the time frame stipulated by these Terms and Conditions. Gems & Gold furthermore reserves the right to cancel or refuse any order for whatever reason including but not limited to events where:

(a) The payment has not been initiated or has not reached Gems & Gold within the time frames given by these Terms and Conditions.

(b) Extraordinary situations arise in the precious metals market.

(c) Price, stock, delivery time or availability has been published erroneously due to computer-related problems or due to human factors.

(d) Deliveries from Gems & Gold's suppliers have been delayed or cancelled.

(e) The price or other information has been published erroneously.

(f) The order is deemed questionable, suspicious, abusive or of significant risk to Gems & Gold.

If Gems & Gold cancels an order, Gems & Gold will contact the Customer to either rearrange the terms of the sale or repay the received amount. If Gems & Gold has cancelled an order, the Customer has the right to demand full reimbursement of the amount paid. Gems & Gold reserves the right to retain funds from orders placed by Customers who have outstanding debts to Gems & Gold.

Notwithstanding what is stated elsewhere in these terms and conditions, Gems & Gold reserves the right to retroactively reverse and/or void an order where product item/s inconsistent with the Customer's placed order has been handed out to the Customer mistakenly or erroneously in regards to product type, metal or weight. Gems & Gold furthermore reserves the right to retroactively reverse and/or void an order where Gems & Gold has handed out product item/s not fully paid by the Customer.

Investment Precious Metals as defined in IRAS e-tax Guide, GST: Guide on Exemption of Investment Precious Metals (IPM), are exempted from Goods and Services Tax (GST) in Singapore. In the event that Gems & Gold offers products that are not exempted from GST, the price listed on the website will include GST.

Gems & Gold sells bullion products in bullion condition, unless otherwise noted. Bullion products are produced for investment purposes and often have minor defects such as scratches, marks, rough surfaces, deformities, spots, milk spots, discoloration and other similar minor defects. Gems & Gold does not change or replace items which are in normal bullion condition. For products sold in proof condition, Gems & Gold does change or replace products in cases where any visible defect is pointed out at the time of the Customer collecting the item when delivery method personal collection has been selected. Gems & Gold does not change or replace any items brought back to Gems & Gold retroactively.

6. Location

Gems & Gold may offer products or services for sale in multiple countries. These Terms and Conditions apply to all orders regardless of which location or jurisdiction products or services are offered. Gems & Gold does not have any permanent establishment in any country other than Singapore. The Customer agrees that Gems & Gold may use an agent to fulfill order handling, storage, dispatchment and administrative services as required in jurisdictions other than Singapore. The Customers contractual counterparty is however always Gems & Gold Pte. Ltd.

7. Price for Customer Orders

The price for an item/items ordered by a customer is locked in at the time an order is placed, specifically, at the time the Customer confirms the purchase by clicking "Confirm", “Place Your Order” or similarly in the online checkout or when the Customer instructs a Gems & Gold representative to place an order in the shop, via phone, e-mail or any other means of communication. When an order has been confirmed by the Customer in the checkout on the website or via any other means of communication, an order confirmation is sent by e-mail. When an order is placed in the shop, the Customer is handed a physical order confirmation which also serves as the receipt for the products ordered. The formal invoice is sent to the Customer via e-mail when the Customer’s full payment has been registered by Gems & Gold. Gems & Gold reserves the full unconditional right to determine the price to which Gems & Gold offers to buy and sell products. Gems & Gold reserves the right to charge different prices for products and services depending on what payment method the Customer chooses. Customer orders for precious metals are binding. By placing an order, the Customer enters into a binding Agreement as stipulated in these Terms and Conditions. All orders regardless of availability status i.e. whether the products ordered are in stock or not are binding and final.

8. Order Payment

The payment for an order must be sent (initiated) within one banking day from the order placement for all payment methods except for online Credit/Debit card payments where the payment must be made within 24 hours and except for cryptocurrencies where the payment must be sent (initiated) within 20 minutes. If an order is placed during a non-banking day, the payment must be initiated the next banking day. In the case of a bank transfer, the order number, which is obtained when placing the order, should if possible be marked in the message field of the bank transfer form used for transmitting payment to the recipient/beneficiary, Gems & Gold.

Payment must be received by Gems & Gold within three (3) banking days of placing the order. Gems & Gold reserves the right to demand payment sooner than the above mentioned time frame. In such case, the Customer will be contacted after placing the order. All bank charges are fully borne by the Customer.

If the payment is not initiated or completed within the stipulated timeframe, Gems & Gold reserves the right to cancel the order and is no longer obliged to hold the item for the Customer.

The Customer acknowledges that the Customer bears the full responsibility to send funds, to the correct account number or address as designated by Gems & Gold on the order confirmation.

The Customer acknowledges that Gems & Gold reserves the right to return the funds, if possible, and/or terminate the order if there are doubts over the owner, identity or origins of the funds. Gems & Gold reserves the right to conduct Customer Due Diligence (CDD) or Enhanced Customer Due Diligence (ECDD) as in accordance with the regulatory regime for precious metals dealers in Singapore. The CDD or ECDD may include requests for information verifying the Customer's identity by obtaining information about NRIC number, passport number, occupation, nationality, address, date of birth and contact number. The Customer may be required to show proof of identifying information which Gems & Gold may copy. The CDD or ECDD may also include requests for information to establish the beneficial owner of funds or metals, questions and verification about income level, source of wealth and source of funds and whether the Customer is indeed the entity or representative of the entity behind the purchase. If no supporting information is provided, Gems & Gold reserves the right to cancel the order or place the order on hold. If Gems & Gold is unable to obtain the Customer's identifying information, after requesting for it, the Customer understands that regulations may prohibit Gems & Gold from completing the transaction and that Gems & Gold may have to terminate any other transaction entered into with the Customer. Gems & Gold will not be responsible for any losses due to insufficient/unclear bank and identification details provided by the Customer.

The Customer acknowledges that any unclaimed funds of unknown origin accrue to Gems & Gold following a period of six years from the funds received by Gems & Gold.

8.1 Cash/NETS/Card Payment

For orders placed with Singapore as location, the Customer may choose to walk in to Gems & Gold's shop to place an order for cash, NETS or card payment or may choose to place an order online with cash, NETS or card payment as payment method. In the case where cash or NETS payment is selected, the Customer must proceed to Gems & Gold's shop at Blk 447 Clementi Ave 3 #01-203, Singapore 120447, no later than the next business day to make payment. No appointment is necessary.

Gems & Gold reserves the right to conduct CDD or ECDD on a Customer paying cash generally and specifically in a case where the amount is above SGD 20,000 or equivalent in foreign currency. The CDD or ECDD may include requests for information verifying the Customer's identity by obtaining information about NRIC number, passport number, occupation, nationality, address, date of birth and contact number. The Customer may be required to show proof of identifying information which Gems & Gold may copy. The CDD or ECDD may also include requests for information to establish the beneficial owner of funds or metals, questions and verification about income level, source of wealth and source of funds and whether the Customer is indeed the entity or representative of the entity behind the purchase. If no supporting information is provided, Gems & Gold reserves the right to cancel the order or place the order on hold. If Gems & Gold is unable to obtain the Customer's identifying information, after requesting for it, the Customer understands that regulations may prohibit Gems & Gold from completing the transaction and that Gems & Gold may have to terminate any other transaction entered into with the Customer.

Gems & Gold reserves the right to change the payment method, from cash or card payment to payment via bank account. Gems & Gold will in such a case notify the Customer and may give the Customer a grace period to be able to transfer or deposit the funds to any of Gems & Gold's bank accounts.

8.2 Cheque Payment

For orders placed with Singapore as location, a Customer may choose to place an order in the shop or online with cheque as payment option. In the case where cheque is selected as payment method, the Customer is required to send or hand over the cheque to Gems & Gold within one banking day from the order placement day.

All cheques must clear with the funds irrevocably available in Gems & Gold's account before any delivery is initiated.

10. Personal Collection of Orders

For orders placed with Singapore as location, Customers can choose to pick up their items ordered online in person at Gems & Gold's outlets, Singapore by selecting "Personal Collection (Pick-up)" as delivery method in the checkout. Upon the online order being placed, the Customer can proceed to pick up location to pick up the items ordered assuming that the payment has been settled. Alternatively, for orders placed with Singapore as location, the payment can be settled at the same time as the customer is collecting the items. For locations other than Singapore, pre-payment is required. No appointment is necessary. For verification purposes, the Customer must bring identification for the collection if the items have been pre-paid.

An authorized representative of the Customer can also pick up the order, provided that sufficient identification including a copy of the Customer's identification and a signed letter of authorization from the Customer is presented. Gems & Gold requires the Customer or his/her authorized representative to sign an acknowledgement upon receiving the items from Gems & Gold. Gems & Gold reserves the right to refuse to hand over the items ordered, in the event that the identity of the Customer or his/her authorized representative or their relationship is not verified, or in the event the payment for the items ordered is not confirmed.

In the case where the release date in the online checkout was indicated as immediately, the products are typically available for pick up as soon as the payment has been received and processed by Gems & Gold. For items listed with a specific release date in the online checkout, the items will normally be available within 7 business days of the listed date. In extraordinary cases with circumstances outside of Gems & Gold’s control such as, but not limited to, delays from our suppliers, transportation delays and so forth, Gems & Gold reserves the right to initiate the delivery within 60 days of the placed order. Gems & Gold insures all deliveries from its suppliers. In the unlikely event that the items are damaged or missing in transit from its suppliers, Gems & Gold reserves the right of further delay of the delivery or repayment upon settlement of the claim with its insurer. All items must be picked up by the Customer no later than seven (7) days after the later of a) the order placement if the payment will be settled at the time of collection, or b) the payment confirmation e-mail in the case where the order has been pre-paid. If for any reason the Customer or the Customer’s authorized representative is unable to pick up the order within this period, Gems & Gold reserves the right to process the ordered items into vault storage and debit storage charges as well as a withdrawal charge in accordance with Gems & Gold's fee schedule for vault storage. The Customer can however, assuming valid reasons, contact Gems & Gold to request an extension, or to arrange another delivery option such as delivery to the Customer's address.

Extensions for picking up of items ordered shall be given at the discretion of Gems & Gold and shall not exceed six (6) months from the date of confirmation of the order. For ordered items not picked up within six months, a late pick up fee of SGD 49 per order will apply in addition to the storage fees. In a case where an order is not picked up within six months from the date of confirmation of the order, the Customer agrees that he/she will automatically sell the uncollected items back to Gems & Gold at Gems & Gold's prevailing customer sell price to cover for the storage fees and late pick up fee. Any excess amount will be credited the Customer's Gems & Gold account. Unclaimed items will accrue to Gems & Gold following a period of six (6) years.

11. Shipment of Orders

Gems & Gold will always bear the risk for the delivery until the Customer has signed for the parcel.

Shipping will be initiated as soon as possible after the full payment has been received. Delivery for items in stock listed as available for immediate delivery, will normally be initiated within three (3) weekdays upon receiving payment. For items listed with a specific delivery date, delivery will normally be initiated within 7 business days of the listed delivery date. In extraordinary cases with circumstances outside of Gems & Gold’s control such as, but not limited to, delays from our suppliers, transportation delays and so forth, Gems & Gold reserves the right to initiate the delivery within 60 days of the placed order. Gems & Gold insures all deliveries from its suppliers. In the unlikely event that the items are damaged or missing in transit from its suppliers, Gems & Gold reserves the right of further delay of the delivery or repayment upon settlement of the claim with its insurer.

For orders that are shipped; in the unlikely event that a parcel has not reached the Customer within 21 days from the time the Customer received the e-mail notification of the order being sent, the Customer must contact Gems & Gold, which will conduct an investigation of the shipment.

If the Customer's package is damaged or opened upon delivery, the Customer must notify the courier/post office immediately and make a note of the damages on the delivery receipt before contacting Gems & Gold.

If the Customer orders several items with different delivery times, the items will be delivered at the time when all items are available for delivery.

All items ordered are shipped from the location ordered. If the Customer, for example, has selected Singapore as location, the items are shipped from Singapore. The customer is responsible for any import costs such as, but not limited to, import taxes, import duties, import tariffs or import declarations where applicable.

Gems & Gold does not take any responsibility for losses or damages in regards to uncollected or returned parcels.

The Customer can place an order for physical withdrawal of his/her bullion online at Gems & Gold’s website anytime 24/7. The Customer can select to have the withdrawn bullion shipped to the Customer’s delivery address, or for bullion stored in Singapore, personally collect the withdrawn bullion in Gems & Gold's shop at 45 New Bridge Road anytime during the shop’s opening hours. For bullion stored at other locations, the Customer can select to have the withdrawn bullion shipped to the Customer’s delivery address or personally collect the withdrawn bullion following one (1) business day of the later of a) placing the withdrawal order online or b) of Gems & Gold receiving payment for the withdrawal order, and if applicable, any other outstanding debt owed to Gems & Gold by the Customer.

Gems & Gold reserves the right to suspend or terminate a Sale or Purchase order for any reason, including but not limited to events where:

(a) Orders have been placed from the account but where payment has not been initiated at all or has not reached Gems & Gold within the time frames given by these Terms and Conditions

(b) The Customer has abused Gems & Gold's system by e.g. but not limited to: opened several accounts and placed an excessive amount of small orders within a short time period leading to unreasonable administrative burden.

(c) The Customer has not responded to, been unwilling to respond, acted suspiciously or responded unsatisfactorily to a Know-Your-Customer, Due Diligence or Periodic Review request.

(d) Gems & Gold suspects that the Customer is using his/her Gems & Gold account for illegal or disallowed purposes.

(e) Gems & Gold suspects that the Customer has attempted or conducted fraudulent activities.

(f) The customer has outstanding debts with Gems & Gold remaining unpaid following more than six (6) months of the last payment date.

(g) There is an ongoing dispute between Gems & Gold and the Customer.

(h) The Customer has requested for the account to be locked or closed.

23. Terms and Conditions for Selling to Gems & Gold

When selling products to Gems & Gold, the Customer can lock in the sell price online at Gems & Gold's website any time by selecting the relevant products and quantity in the pre-configured list under Sell Gold & Silver (Mobile: Menu > Sell Gold To Us). The Customer can also lock in the price by walking into Gems & Gold's Outlet.

Gems & Gold reserves full unconditional right to determine the price to which Gems & Gold offers to buy and sell products for all products and services.

When placing a sell order online, the Customer is required to enter his/her personal details and select the preferred method of how to get paid. Gems & Gold and the Customer agree to the Terms and Conditions stipulated in this text by the Customer submitting the order. When the Customer has submitted the sell order, an e-mail order confirmation is sent to the Customer’s registered e-mail address and an SMS text message is sent to the Customer's registered mobile phone. The Customer must thereafter, within one business day, hand over the items to Gems & Gold in its shop at 45 New Bridge Road (no appointment is necessary) or within one business day initiate a shipment of the items to Gems & Gold Pte. Ltd., 45 New Bridge Road, Singapore 059398. If the Customer ships the items to Gems & Gold, the seller bears the risk of the delivery until Gems & Gold has received and signed for the parcel. Gems & Gold recommends that all parcels to Gems & Gold are sent with a traceable and insured shipping method. Items can not be shipped to or handed over to Gems & Gold's vault partners in other countries than Singapore unless there's a prior agreement between the Customer and Gems & Gold. In case items are shipped or handed over to Gems & Gold's vault partners in other countries than Singapore, the price stated on Gems & Gold's website is not applicable as Gems & Gold has additional costs for handling of items in these countries and the price must therefore be negotiated between the parties.

By handing over items to Gems & Gold for testing, the Customer acknowledges that Gems & Gold has the right to disassemble, split, scrape or in any other way adjust the form of the items necessary to test the metals. The Customer furthermore acknowledges that Gems & Gold has the right to use X-Ray equipment, electronic test devices, spectrometers and chemical testing solutions on the items. Gems & Gold does not take responsibility for any damages or changes that may occur on the items during the authentication and verification process.

In the event that a price reduction has to be imposed, the reduction will be communicated directly to the Customer in the shop or if it's a shipped order, a confirmation e-mail with the new pricing will be sent to the Customer. The payment settlement will only be initiated if the Customer agrees to the revised price. If the Customer and Gems & Gold cannot come to a compromise for the revised price, Gems & Gold will initiate the return of the bullion at the Customer's cost.

Notwithstanding what is stated elsewhere in these terms and conditions, Gems & Gold reserves the right to retroactively reverse and/or void an order where:

(a) Upon further testing, assaying or melting of received items, the metal type and/or metal purity differs from the on the invoice stated metal form and purity.

(b) The price has been published erroneously on Gems & Gold's website, including in Gems & Gold's internal system or teller system, due to computer-related problems, due to problems concerning price data or due to human factors.

(c) A mistake such as for example, but not limited to, a misweighing, a payment error or a product input error has led to an incorrect payment to the Customer.

Gems & Gold reserves the right to reject sell orders. If Gems & Gold chooses to cancel an order, regardless of reason, the Agreement is cancelled and the items are returned to the Customer. Gems & Gold reserves the right to debit shipping costs, Cash on Delivery costs and other costs including a probing cost of S$2 per gram for gold, platinum and palladium or S$0.10 per gram for silver with a minimum of S$60 per parcel if an order is cancelled due to erroneous information from the Customer such as, but not limited to:

- the metal not being a precious metal;

- an incorrect description has been given by the Customer;

- the metal deviating significantly from the purity and weight that the Customer has specified; or

- the metal being of another type than the Customer has specified.

If Gems & Gold chooses to return the items for any other reasons, there is no extra cost incurred by the Customer.

If items sold to Gems & Gold, during enhanced testing or at melting, are proven not to contain the weight or purity/karat of the stated metal as the specified on the purchase invoice or Agreement by e.g. the metal being another metal than what was specified, or by the weight or purity deviating, Gems & Gold reserves the right to pro-rate the calculation and demand the Customer to pay back the resulting difference. Gems & Gold furthermore reserves the right to cancel an Agreement where the items sold were subsequently proven not to contain the specified weight of the specified metal or differed in purity. In such cases, Gems & Gold will demand full re-payment of the funds paid before returning the items to the Customer.

The Customer acknowledges that he/she bears full responsibility to fill in the correct Customer information and payment details when selling bullion to Gems & Gold. The Customer furthermore acknowledges that Gems & Gold assumes no responsibility for losses resulting from inaccuracies in payment details such as the Customer e.g. input of an incorrect bank account details.

25. Privacy Policy

This website use cookies and sessioncookies to facilitate activities for individual users. The information is used for identification purposes and to fill in data fields to facilitate the accessibility of services on this website. Cookies are also used for statistical purposes. Sessioncookies are only used for the duration you are logged in to store session information. The information collected is anonymous. If you do not wish to accept cookies, your browser can be set to deny cookies. This however would affect the functionality that you would experience when using this website.

Gems & Gold protects its customers personal integrity and processes customer information with full confidentiality. Following the EU-regulation on General Data Protection Regulation, effective 25 May 2018, Gems & Gold would like to inform you how the company handles personal information. Through its e-commerce system, Gems & Gold collects the personal information that its users and customers have supplied the company with. The following information is collected: name, e-mail, telephone number, address, post code, city and country. In some instances, including but limited to when a customer’s order exceeds a certain threshold, Gems & Gold collects additional Know Your Customer information such as e.g., but not limited to, the customer's nationality, a copy of the customer's identification and a copy of the customer's proof of address. The collected information is used to assist registered account holders and customers with information and service. Gems & Gold also uses personal information for marketing in the form of newsletters and promotional offers via e-mail or mail. It is possible to unsubscribe from the newsletters and promotional offers via the unsubscribe link that all such e-mails contain. Gems & Gold is keen to protect its customers confidentiality and does not share or sell any personal information with the exception of information that the company is forced to disclose under law. Gems & Gold saves the users/customers personal information as long as there are legal obligations for the company to do so. As a user/customer, you can at any time request us to supply you with the personal information registered about you. You can at any time request us to change incorrect information and you can at any time request us to delete your personal information provided that there are no legal obligations for us to save it. Gems & Gold's e-commerce system is rigorously constructed to protect your personal information. There's a limited number of staff members in manager position who have access to handle your personal information. If you have any questions concerning the treatment or collection of personal information, please contact Gems & Gold, via “Contact us” at our website

26. Law and Disputes

This Agreement shall be governed and interpreted according to the laws of Singapore. Any action by either party which does not comply with Singaporean laws shall be deemed void.

Any dispute arising out of, or in connection with this Agreement, shall primarily be subject to mediation between the parties and if not resolved be referred to and resolved by arbitration in Singapore in accordance with the arbitration rules of the Singapore International Arbitration Centre. The tribunal shall consist of one (1) arbitrator and the arbitration shall be held in the language of English.

27. General and Miscellaneous Provisions

a) The Customer guarantees that all representations made to Gems & Gold are true. The Customer gives Gems & Gold the warranty that none of the Products sold by the Customer stored under this Agreement is connected to any illegal activities.

b) All instances of fraud or attempted fraud will be reported by Gems & Gold to the police.

c) The Customer is solely responsible for understanding and complying with all laws, rules and regulations in the jurisdictions applicable to the Customer.

d) The Customer must inform Gems & Gold of any changes in the Customer's contact details and other information provided to us, including, but not limited to: postal address, e-mail address and mobile telephone number. Gems & Gold may periodically contact the Customer to validate the information. If the information cannot be validated, Gems & Gold reserves the right to suspend dealing with the Customer.

e) Any notice communicated by Gems & Gold shall, unless otherwise noted in this Agreement, be e-mailed to the Customer’s e-mail address provided by the Customer’s Gems & Gold account. Any notice by Gems & Gold will take effect on the 3rd day of it being sent.

f) The Customer or Gems & Gold account holder agrees to Gems & Gold sending out periodic e-mails with information about the market, products, events, promotions or similarly. The Customer can always choose to unsubscribe from these e-mails by clicking the unsubscribe link in such an e-mail.

g) In the event that the Customer fails to fulfil the obligations under this Agreement, Gems & Gold reserves the right to assign a law firm or a debt collection company to act on Gems & Gold’s behalf. Any costs or expenses incurred in relation to such an act shall be borne by the Customer.

h) The prices of the products offered by Gems & Gold are determined by different factors such as the spot price of precious metals, market price premiums, demand, supply, market sentiment, shortages of precious metals, production capacity, shipping costs, insurance costs etc. as well as internal price mechanisms and risk controls put into place by Gems & Gold.

i) Communicating with Gems & Gold or reading material on Gems & Gold’s website should not be taken as investment advice.

j) Gems & Gold does not endorse any broker and does not guarantee the investment of any Customer. The price or value of bullion may fluctuate.

k) Gems & Gold does not, whether on its own account, on behalf of any of its customers or on behalf of any third parties, engage in or offer any commodity trading services or commodities contracts, as defined by the Commodities Trading Act (Chapter 48A).

l) Gems & Gold makes no representations about the advisability of purchasing bullion as investment and does not give financial advice.

m) These Terms and Conditions are not a solicitation of any products or services and are not targeting any specific country or market.

n) The Customer may not transfer the rights and obligations under this contract to anyone else.

28 Limitation of Liability

28.1 Transactions

Gems & Gold cannot be held responsible for any loss or damage in the case the Customer has acted negligently in regard to the security of the Customer’s account generally, or password or PIN code specifically. Furthermore, Gems & Gold cannot be held responsible for any Customer using an unsecured computer in accessing the Customer’s account.

Gems & Gold will not be liable for any loss resulting from, but not limited to, inaccuracies in bank details, other incorrect Customer details supplied by the Customer. Gems & Gold shall not be liable for any damages or losses, including direct, indirect, consequential or incidental damages, which the user may incur due to the use or termination of the website, or due to the fault or negligence of any entity furnishing any facilities, equipment or services used in connection with the website, or due to the failure or delays in transmission, malfunction of equipment, breakdown or failure of any telecommunications systems, software or hardware provided by any entity used to operate the website, or due to any other such similar causes beyond the reasonable control or anticipation of Gems & Gold.

If it is determined that Gems & Gold is held liable to the Customer with regard to any transaction consistent to this Agreement, Gems & Gold’s liability to the Customer in relation or due to any transaction shall be limited to the amount paid by the Customer in such transaction. In no event shall Gems & Gold be held liable for any indirect, consequential, or exemplary damages.

28.2 Force Majeure

Gems & Gold is not liable for failure to perform its obligations if such failure is a result of a superior or irresistible force or Act of God that cannot be reasonably anticipated or controlled.

If Gems & Gold asserts Force Majeure as an excuse for failure to perform its obligation, Gems & Gold must prove that it took reasonable steps to minimize delay or damages caused by foreseeable events. The Customer shall not make any claims for any appreciation in value of the bullion or any damages under any and all circumstances.

28.3 Storage

Customer’s settlement of the bullion purchased and shall remain in effect until the time when the Customer sells all bullion stored in the vault or is withdrawing the bullion physically.

Gems & Gold assumes liability for the bullion stored under this Agreement for any and all loss of the bullion according to the accepted liability standards of the bullion industry, including, but not limited to, mysterious disappearance, robberies, burglaries, theft, and employee infidelity. Gems & Gold shall not be liable for any loss or damage, cost or expense to the bullion while in storage directly or indirectly due to or as a result of the following situations:

a) Events of war, invasion, acts of foreign enemies, hostile acts of sovereign or government entities, warlike operation, hostilities (whether war be declared or not), civil war, rebellion, insurrection, riots, labour disputes, uprising, martial law, military or usurped power.

b) Seepage or any kind of pollution and/or contamination, discharge of pollutants or contaminants, existence or release of which endangers or threatens to endanger the health, safety or welfare of persons or the environment.

c) Use of or effects arising from chemical, biological, bio-chemical, radioactive or electromagnetic weapons. Use of or effects arising from any device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or any act of a public enemy. Use of or effects arising from nuclear reaction, nuclear radiation, nuclear detonation or radioactive contamination however such nuclear reaction, nuclear radiation, nuclear detonation or radioactive contamination may have been caused. Use of or effects arising from ionising radiation from or contamination by nuclear sources or nuclear matter. Use of or effects arising from radioactive, toxic, explosive or hazardous or contaminating properties associated with nuclear installation, nuclear reactors, other nuclear assembly, nuclear sources or matter.

d) Natural ageing, gradual deterioration, rust or oxidation or warping.

e) Cessation, fluctuation or variation in, or insufficiency of water, gas or electricity supplies and telecommunications of any type or service.

f) Any loss or damage to electronic data or loss or damage by electronic means including but not limited to any form of cyber-attack or means for inflicting harm caused by computer hacking, computer virus, malicious code or computer corrupting on the Customer’s or Gems & Gold’s computers, devices, electronic or technical equipment or those belonging to a service provider for which Gems & Gold has sub-bailed storage.

g) Confiscation, nationalisation, requisition, destruction, seizure, appropriation, detention, embargo, quarantine, occupation and expropriation by or under the order of any government or public or local authority.

h) Technical failures or unusual market conditions such as but not limited to market default, market closure and market disruptions.

i) Loss of use, loss of income, delay or loss of markets, depreciation or any indirect loss or damage, including, but not limited to, loss of profits or revenue due to buy or sell prices set by Gems & Gold, profits, revenue, business opportunity or reputation, whether or not caused by Gems & Gold's fault or neglect, and regardless of whether Gems & Gold has knowledge or not, that such loss or damage may result.

j) Insolvency, administration, bankruptcy, receivership or voluntary arrangements with creditors of any third party.

k) Any failure to follow instructions of the Customer in the event of situations stipulated in clause 27.

l) Loss resulting from negligence of the Customer including, but not limited to, such negligence as mentioned in clause 28.1 or wilful misconduct of the Customer.

m) Any consequential loss of any kind.

29. Confidentiality and Privacy

Gems & Gold protects the confidentiality of its Customers. Gems & Gold will not divulge any Customer information relating to this Agreement or otherwise to any third party unless forced to do so under Singapore law. Gems & Gold may however disclose Customer information to its employees, agents and contractors for them to fulfill the obligations and requirements as stipulated in this Agreement.

Gems & Gold respects the privacy of its Customers. Gems & Gold's practices concerning the collection, storage, processing, analysis, transfer, and/or use of the Customer's personal information reflect Gems & Gold's commitment and integrity in providing efficient and reliable services. The Customer information that is gathered by Gems & Gold is used for customer service purposes only.

30. Validity

Gems & Gold reserves the right to limit, suspend, put on hold or close a Customer account and/or limit access to funds held on a Customer account if the Customer violates the Terms and Conditions in this document or in any other Agreement entered into with Gems & Gold.

Gems & Gold may terminate this Agreement upon fourteen (14) days' notice given to the Customer. In case of termination, Gems & Gold will send a notice to the registered e-mail address of the Customer as provided on the Customer account with Gems & Gold or alternatively send a notice to the Customer's registered postal mail. The Customer is responsible for the payment of all fees incurred for the sales or withdrawal of the bullion regardless of the reason for the termination.

Gems & Gold may terminate this Agreement at any time if:

a) The Customer breaches any of the terms of this Agreement

b) The Customer goes into liquidation, or is declared bankrupt

c) The Customer is suspected to be using the service of the company for illegal activities, including but not limited to, money laundering and terrorism financing.

d) The Customer fails to make punctual payment of the fees in accordance with the provisions of this Agreement.