FirstGold™ Pty Ltd ABN 39161105620 Registered November 2012
Terms and Conditions
At FirstGold™, we understand that reading through all the legal jargon on a website can sometimes be difficult. However, when you choose to save with FirstGold™, you are legally bound by all the terms below. To assist you while you read, 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 provide accurate information and to Honor your commitment to pay us immediately once you have committed to buying Gold, Platinum, and Silver. In return, you can trust us to securely hold all your Gold, Platinum, and Silver and deliver them to you when required, or to pay you our sell rate for the value of your precious metals if required. We deliver physical metal from our offices at no charge in 1ounce for Gold and Platinum and 1 kilogram for Silver. We promise to hold the full amount of physical metal purchased by all our customers and that all metal is fully insured to its replacement value with various Lloyd’s of London underwriters. We charge a yearly insurance and storage fee.
When you purchase gold from us:
At the time an invoice or purchase order is created, you enter into a binding contract with Firstgold, and the price is locked in. In the event of any default by you, an administration fee may be charged.
While we can’t take responsibility for incidents beyond our control, we’ll treat you fairly because we care about your financial future.
For further clarification, please 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 authorized 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 that have been made available by means of direct debit.
Business Day – means a day on 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, including gold, platinum, and silver, 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 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 informational purposes only. We do not warrant the accuracy of that information, and you should not rely on it.
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 from our office is free of charge in one ounce (1oz.) for Gold and Platinum, and one kilogram (1kg) for Silver. Delivery is not available in other weights.
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 authorized 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 personalized advice or make personalized 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 an 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. We charge a yearly insurance and storage fee on your account on December 15th each year. The fee is calculated at .05% of your metal holding at December 15th year , bullion is deducted at the prevailing sell price to cover this fee .This deduction is made in metal and can be made in dollars if preferred.
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 fulfillment 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. All prices quoted include storage, and insurance charges. When purchasing gold, platinum, or silver, a premium is payable over and above the “spot” price of gold, platinum, or silver. (“Buy price”) These premiums vary on a day-to-day basis as a result of increased demand for physical gold, platinum, and silver. (c) When selling gold, platinum, or silver, the price will be determined as a percentage below the “spot” price of gold, platinum, or 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. FirstGold™, at its sole discretion, may introduce or amend storage fees or storage conditions. FirstGold™ will endeavour to notify you of such an amendment.
30. 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 relation 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. When you place an order to buy bullion, it’s important to note that the order is not processed until we receive your funds in our account. By initiating the buy order, you are committing to paying the agreed-upon funds to our account.
39. 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; (b) Any fees, taxes, or other charges levied by a third party on FirstGold™ in connection with your Contract, order, or Account.
40. You are required to provide Available Funds to pay for all costs in connection with a purchase of Product, by settlement date, within 24 hours or at any earlier time as required by FirstGold™.
41. In the event of any default by you in the fulfillment of any of your obligations to us we may exit all and any positions.
41. All terms will continue in full force and effect after any Account or Contract expires or is terminated.
42. You authorize us to record any telephone conversation(s) between you and us, with or without an audible tone warning device.
43. You agree to pay our normal commission fees and to reimburse us for 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 authorize us to debit your Account (including your credit card account) in respect of any such losses; and (f) We may refuse to accept or fulfill any further orders from you for Product or our Services.
44. You authorize 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. Disclaimer Neither FirstGold™ nor its directors, shareholders, or its employees are registered investment advisors, and they do not give investment advice. Comments made on this website are an expression of opinion only. While we try to explain the possible benefits of investing in Precious Metals, you should not construe comments, links, or advertisements on this website as recommendations to buy or sell a commodity at any time. While FirstGold™ strives to make sure all our statements are true and accurate, we use third-party data and therefore depend on the reliability of our own credible sources. FirstGold™ recommends you consult with your qualified investment advisor before you make investment decisions. Please be aware that authors of material on this website may have invested, or may from time to time invest, in commodities discussed on this website.
49. Links: Any link or links on our website to an external site is provided for your convenience only. FirstGold™ does not control or monitor such websites and is not responsible for the content or opinions that might be on them. We make no warranties or representations that material on other websites to which material is linked.
50. Security: While FirstGold™ endeavours to provide a secure internet environment, users should note that there are inherent risks associated with the transmission of information via the internet. FirstGold™ provides alternate methods to obtain and provide information for those who do not wish to use public networks such as the internet. These include direct contact via telephone, facsimile, or post. FirstGold™ has implemented what is considered appropriate security features for this website, but it and the underlying systems may be subject to attack from unauthorized persons.
51. Your Obligations: You agree to provide accurate, true, and current information about yourself and maintain that information. You are responsible for maintaining the confidentiality of your password and account information and the activities conducted on your account. You agree to notify us immediately of any unauthorized use of your password or any breach of security.
52. Availability: FirstGold™ cannot guarantee to provide continuous or uninterrupted access to this website. FirstGold™ also cannot guarantee the website or software downloaded from it will be free from computer viruses.
53. Trademarks: FirstGold™ and the FirstGold™ logo are registered Trademarks of First Gold Pty Ltd.