Terms and Conditions:
First Gold Pty Ltd ACN 161 105 620
At FirstGold™, we are human too and we know that reading through all the legal jargon on a website is sometimes difficult. However, when you choose to save with FirstGold™, you are legally bound by the all the terms below. So to help you out while you are reading, here’s a promise from FirstGold™.
- As our client, your satisfaction will always come first and we will strive to exceed your expectations.
- We operate on a contract system of trust. We trust you to tell us the correct information and to honour your commitment to pay us immediately once you have committed to buying gold and silver which will need to be cleared in our account within 24 hours, and you can trust us to always securely hold your gold and silver and deliver it to you if you require, or to pay you the sell rate for the value of your gold and silver if required.
- We will always respect your privacy. We understand that your information is always your property and we will never sell it or use it for any other means than for helping you reach your financial goals.
- FirstGold™ cannot assume any responsibility for any loss or damage you may incur for incidents out of our control. However, we will treat you with fairness if such an incident occurs because we care about your financial future.
For any further clarification, you should always read the full terms and conditions or contact us with any questions.
1. In these Terms of Business unless context otherwise requires:
Account – means an account held by FirstGold™ on your behalf for the purpose of facilitating any transaction, Product or Service, including storing, holding or trading on your behalf.
ACL - means the Australian Consumer Law Schedule of the Competition and Consumer Act.
Authorised Agent – means any person you have properly authorised to give trading or funding instructions to us on your behalf in connection with your account including an Additional Operating Authority.
Available Funds – means cleared funds, including funds which have been made available by means of direct debit.
Business Day – means a day in which banks and foreign exchange markets are open for business in Sydney, Australia.
Consumer - is as defined in the ACL and in determining if you are a consumer, the determination is made if you are a consumer under the Contract.
Contract - means the contract evidenced by and created when we issue a Contract Confirmation and/or invoice under clauses 9 and 10 of these Terms.
Product - means precious metals and any other products sold or purchased by us from time to time.
Services – means any services provided by FirstGold™, including holding or trading, assaying, refining, storage, insurance and delivery.
Terms - means these Terms of Business.
2. These Terms apply to all dealings between the client (collectively referred to as “you” or “your”) and or FirstGold™ Pty Ltd (collectively referred to as “FirstGold™”, “we”, “our” and “us”) regardless of the facility/device/ mechanism used to facilitate the dealings.
3. We will not be responsible for any loss or liability incurred by you arising or in any way connected with any dealing or transaction with us, contemplated or actual, except to the extent of liability imposed by the ACL.
4. Any information provided by us including information posted on our website is indicative and for information only. We do not warrant the accuracy of that information and you should not rely on that information.
5. These Terms replace any agreement that currently exists between you and us and the obligations entered into under the prior arrangement will be treated as if they were entered into pursuant to these Terms.
6. You acknowledge that by placing an order with FirstGold™ or creating an Account you evidence your acceptance of these Terms.
Your Contract with Us
7. Before we can contract with you, you must establish an Account with us. You cannot submit an order until your Account has been established.
8. You may submit an offer to buy or sell or acquire a Product or Service from us from time to time however we are not bound to accept any offer/order/inquiry received from you.
9. You enter into a contract with us when we send you our Contract Confirmation and/or tax invoice accepting your offer/order, whether placed by phone, email or through our website.
10. The payment terms of our contract will be set out in the Contract Confirmation and/or tax invoice we send you, at the price contained in that Contract Confirmation, and incorporating these Terms.
11. When we send you our Contract Confirmation and/or tax invoice, you are bound by those contract terms.
12. Product will be made available to you at the time specified in the Contract Confirmation or Invoice based upon availability at the time.
13. Normal delivery is free of charge in one ounce (1oz.) for gold and one kilogram (1kg) for silver. Delivery is available in other weights but may be subject to market related barring charges depending on your delivery required.
14. You warrant that all information provided by you in your Account application is complete, accurate and correct and is not misleading. We may rely on that information unless and until we receive written notice of any change signed by you. Any such varied information will be covered by this warranty.
15. You warrant that you have full capacity, power and are otherwise properly authorised to enter into obligations and exercise rights pursuant to these Terms. If you are the trustee of a trust or a superannuation fund you further warrant that any transaction is for the benefit of the trust or superannuation fund and that you have the right to be fully indemnified out of trust assets or the superannuation fund for obligations incurred in any transaction.
16. You represent that at all times during your dealings with us you will be in a position to meet all your commitments and obligations arising from these dealings.
17. We do not give personalised advice or make personalised recommendations. You warrant that before transacting with us you have assessed and evaluated the proposed transaction in the light of your personal financial situation, investment objectives and particular needs.
18. The type, nature, extent, service provider or platform of any service, Product or facility available to you may change from time to time. In such circumstances, where we consider it reasonably necessary, FirstGold™ will provide you with notice of the change.
19. FirstGold™ is not responsible for the reliability, completeness or accuracy of any third party information it provides or makes available to you.
20. FirstGold™ is entitled to rely on instructions from any Authorised Agent that you appoint until it has actual notice in writing from you that such appointment has been revoked.
21. FirstGold™ has the right to correct any trading or administrative errors including but not limited to reversing or cancelling a Contract Confirmation without your consent and without liability or recourse against FirstGold™.
22. FirstGold™’s operating policy is as follows: FirstGold™ endeavours to deal fairly and in due turn with all orders to buy and sell Product regardless of your instructions, source or method of delivery. It is the practice of FirstGold™ to deal with all orders in the sequence in which they are received, and otherwise as expeditiously as practicable but no Product will be released or despatched earlier than receipt of notification by FirstGold™ from its bank of the purchase monies becoming Available Funds.
23. You agree and warrant that you will notify FirstGold™ immediately of any errors or omissions in our records with respect to your details or Account, all changes must be received in writing or via email.
24. FirstGold™ reserves the right to suspend trading, or immediate fulfilment of orders in times of high market volatility or fast moving market conditions.
25. Prices published by FirstGold™ are indicative only and subject to these Terms, the pricing of your order is fixed (based on a premium over the spot price of the metals) at the time of Contract Confirmation.
26. (a) All prices quoted exclude storage, delivery and insurance charges unless expressly included. You acknowledge that you must pay for and take delivery or arrange for storage of the Product sold to you within 14 days of receipt of advice that the Product is available for collection after which the Product will be stored at your risk and expense. (b) When purchasing gold or silver, a premium is payable Over and above the “spot” price of gold and silver. (“Buy price”) These premiums vary on a day to day basis as a result of Increased demand for physical gold and silver. (c) When selling gold or silver, the price will be determined as a percentage below the “spot” price of gold and silver. (“sell price”)
27. When we agree to arrange delivery, transport, insurance or storage of Product on your behalf, we do so as your agent and to the maximum extent permitted by law, without liability.
28. Title in any Product passes to you when we receive Available Funds. Risk in any Product passes to you when you take possession of the Product. You assume all risk and liability for loss, damage, injury to persons or your property, or property belonging to a third person, arising out of the use, possession of or dealings with any of the Product sold by us, (including changes in your financial situation), unless recoverable from us on the failure of any statutory guarantee under the ACL.
29. Any period or date for delivery of Product or provision of Services stated by us is an estimate
30. We will use our reasonable endeavours to meet any estimated dates for delivery of the Product but will not be liable for any loss or damage suffered by you or any third party for failure to meet any estimated date.
31. If we cannot complete the Services by any estimated date, we will complete the Services within a reasonable time.
32. FirstGold™, at its sole discretion, may introduce or amend storage fees or storage conditions. FirstGold™ will endeavour to notify you of such an amendment.
33. These Terms are governed by the laws of New South Wales and the Courts of New South Wales have non-exclusive jurisdiction in relation to any disputes to which these Terms apply.
34. All instructions are subject to the law, and these Terms.
35. It is your responsibility to ensure that all instructions given to FirstGold™ (whether by you or an Authorised Agent) are in accordance with the law, and these Terms.
36. If we consider it is in our reasonable interest to do so and to the extent permitted by law, we may decline to act on your behalf in relations to any particular dealings, without explanation or advance notice. Additionally we may decline to act on your behalf where we: ( a ) believe the transaction would result in no change of beneficial ownership; ( b ) believe the instructions are ambiguous, incomplete or unclear; or ( c ) suspend your account due to unpaid or overdue accounts. only and not a contractual commitment.
37. If more than one person constitutes the client, then they are jointly and severally bound by these Terms and we are entitled to act upon the instructions of any one of those persons unless specified otherwise on the account application form.
Payment and Settlement
Obligations and Default
38. You must pay FirstGold™: ( a ) The full purchase price for any Product, commission, fees and charges in connection with your Account and our services at the rates and currency notified by us in writing from time to time; ( b ) Any fees, taxes or other charges levied by a third party on FirstGold™ in connection with your Contract, order or Account; and ( c ) Interest on any unpaid amounts at the Reserve Bank of Australia Cash Rate plus 4% per annum from the day the amount falls due until the date the amount is paid.
39. You are required to provide Available Funds to pay for all costs in connection with a purchase of Product, by settlement date or at any earlier time as required by FirstGold™. 40. In the event of any default by you in the fulfilment of any of your obligations to us; ( a ) You will pay us an $10.00 AUD default fee; and ( b ) You will compensate and indemnify us (including our subsidiaries, and their respective directors, employees, contractors and agents) in respect of any and all losses, claims and expenses incurred by us as a result of your default; and ( c ) Without limiting the generality of (b above, we may exit all and any positions
41. Clauses 34 to 40 of these Terms will continue in full force and effect after any Account or Contract expires or is terminated.
42. In connection with the establishment of these arrangements and the collection of overdue payments, you authorise us to supply relevant information contained in your application form and other records to a credit reporting agency and to obtain credit reports about you from any credit reporting agency.
43. You authorise us to record any telephone conversation(s) between you and us, with or without an audible tone warning device.
44. You agree to pay our normal commission fees and to reimburse us for an extraneous costs, such as GST, for transactions made on your behalf. taken by us in relation to your Contract, including any physical contracts, in which case you will indemnify us in respect of any costs and losses we may incur as a result of exiting any position; and ( d ) Without limiting the generality of (b) above, if you default in payment (which includes termination or cancellation of an order by you) you will pay us the difference between the price to you for any Product, and the current buyback price (as determined by us) of the Product as at the date your default is processed; and ( e ) You authorise us to debit your Account (including your credit card account) in respect of any such losses; and ( f ) We may refuse to accept or fulfil any further orders from you for Product or our Services.
45. You authorise us to appropriate any credits, payments and other receipts from you or from your Account in such manner and order as we think fit against any amounts due or owing by you to us.
46. Except as these Terms state, or as contained in any express warranty provided in relation to the Product or our Services, the Contract does not include by implication any other term, condition or warranty in respect of the quality, merchantability, acceptability, fitness for purpose, condition, description, assembly, manufacture, design or performance of the Product or our Services or any contractual remedy for their failure.
47. If you are a consumer nothing in these Terms restricts, limits or modifies your rights or remedies against us for failure of a statutory guarantee under the ACL.
48. If you on-supply the Product to a consumer, subject to clause 50: ( i ) if the goods are not of a kind ordinarily acquired for personal, domestic or household use or consumption, then the amount specified in section 276A(1) of the ACL is the absolute limit of our liability to you howsoever arising under or in connection with the sale, use of, trading, storage or any other dealing with the Product or our Services by you or any third party; ( ii ) otherwise, payment of any amount required under section 274 of the ACL is the absolute limit of our liability to you howsoever arising under or in connection with the sale, use of, trading, storage or any other dealing with the Product or our Services by you or any third party.
49. If you use up or transform the Product in the course of trade, and when you supply your own goods to a consumer the Product are no longer “goods” as defined in the ACL then we will not be liable to you or the consumer in any way arising under or in connection with the sale, use of, storage or any other dealings with the goods or Product by you or any third party. 50. If clauses 47, 48 or 49 do not apply, then other than as stated in these Terms or any written warranty statement we are not liable to you in any way arising under or I connection with the sale, use of, storage or any other dealings with the Product or Services by you or any third party.
51. You acknowledge that: ( a ) you have not relied on any service involving skill and judgement, or on any advice, recommendation, information or assistance provided by us in relation to the Product or services or their use or application. ( b ) you have not made known, either expressly or by implication, to us any purpose for which you require the goods or services and you have the sole responsibility of satisfying itself that the Product or services are suitable for your use.
52. You agree to release FirstGold™, its subsidiaries, and their respective directors, employees, contractors and agents from any obligation or liability with respect to any loss, whether direct or consequential, that you suffer or incur in connection with your business dealings with FirstGold™ except to the extent of liability imposed by the ACL.
53. FirstGold™ shall not be liable for any loss arising in connection with the operation (including delays and errors) breakdowns, disruption to or malfunction of any system, device or service except to the extent of liability imposed by the ACL.
54. Nothing in the Terms is to be interpreted as excluding, restricting or modifying or having the effect of excluding, restricting or modifying the application of any State or Federal legislation applicable to the sale of goods or supply of services which cannot be excluded, restricted or modified.
55. We reserve the right to vary these Terms. Any variation of these Terms shall apply to all dealings between you and us from the day on which the variation takes effect.
56. Any notice, request, demand or other communication may be sent to your postal or electronic address last notified to us and the notice, request, demand or other communication shall be taken to have been received by you if sent by prepaid letter on the Business Day following posting and if sent by facsimile or other electronic means.
57. Subject to the completion of any outstanding obligations, these arrangements may be terminated by either party giving not less than seven days written notice to the other party.
58. You must not assign any Agreement without prior written consent of FirstGold™. FirstGold™ may assign any Agreement without notice to you.
59. If the whole or any part of a provision of any Agreement is or shall become void,
60. FirstGold™ and entities controlled by it are subject to the National Privacy Principles in the Privacy Act 1988 (Cth). ( a ) Collection of Personal Information We collect personal information (including your full name, address and contact details) so that we may administer our relationship with you, provide you with Product and services you request, as well as information about FirstGold™’s Products and Services. Where it is necessary to do so, we also collect information on individuals such as company directors and officers (where the company is our client), as well as client’s agents and persons dealing with us on a “one off” basis. If you provide us with incomplete or inaccurate information, we may not be able to provide you with the Product or services you are seeking. ( b ) Disclosure of Personal Information
We may communicate personal information to:
- External Product providers.
- Organisations to whom we outsource certain functions.
61. In all circumstances where contractors and agents may become aware of personal information, confidentiality arrangements apply. Personal information may only be used by our agents and contractors for our purposes. We may be allowed or obliged to disclose information by law.
Not Financial Advice
While FirstGold™ promotes gold and silver as the best savings method and investment for your money, the advice presented on our website does not take into account your particular objectives, needs or financial situation. FirstGold™ does not offer Financial advice .
Before making a decision regarding a FirstGold™ account, note this is not a financial product, you should assess whether it is appropriate to your objectives, needs or financial situation.
You may wish to make this assessment yourself or seek the help of an adviser. FirstGold™ takes no responsibility for you acting on the information provided.
Any decision that you make is at your own risk. Before opening a FirstGold™ account you should consider your particular objectives, needs, or financial situation.