Terms and Conditions
Terms and Conditions of SA Bullion
In the General Terms and Conditions, terms beginning with a capital letter have the following meaning:
Calendar Days: the days of the week, including weekends and public holidays officially recognized by the South African legislation applicable to SA Bullion.
Customer: any individual or entity who enters into a transaction of sale, purchase or storage of a Product with SA Bullion.
Customer Service: The service in charge of handling SA Bullion’s clients.
SA Bullion: SA Bullion Investor Services (Pty) Ltd, a company registered in South Africa with registration number 2008/002366/07
GTC: General Terms and Conditions of SA Bullion.
Order: all orders, including sale orders and purchase orders.
Order Confirmation: the order confirmation which is sent by email to the Customer and/or which is available via the Customer account.
Product: all products offered on SA Bullion’s Website, such as gold, legal tenders, minted coins, minted bars.
Website: The website www.sabullion.co.za
Business days: the days of the week, excluding weekends and public holidays officially recognized by the South African legislation applicable to SA Bullion.
2. Scope and contractual partners
By using the Website and other services provided by SA Bullion, including placing purchase orders (see paragraph 5 and paragraph 10 below) the Customer agrees to these GTC. These terms apply to all purchase orders whether made through the Website, by telephone or otherwise.
Customers must be at least 18 years old, capable of discernment and not under curatorship in order to place an order through the Site.
The operator of www.sabullion.co.za
SA Bullion Investor Services (Pty) Ltd
First Floor, Brickfield Canvass
35 Brickfield Road
Registered in South Africa under registration number 2008/002366/07
3. Risk and Investment advice
All investments involve some level of risk. If the Customer is considering purchasing precious metals, as an investment, he/she should assess the current market and contact his/her financial advisor for any advice. The Customer agrees that SA Bullion does not provide any advice on the opportunity to invest in, disinvest from, or remain invested in, a particular precious metal.
4. The information mentioned on the Website
Although SA Bullion strives to inform its Customers in the most complete and faithful way possible, the photos, videos, and texts illustrating and describing the products, as well as the state of the stocks mentioned on the Website are not contractual and are provided for information only. They are in no way, an offer by SA Bullion (which does not guarantee its accuracy) and in no way qualify as guarantees or as the quality promised.
The prices shown on the Website are denominated in ZAR and are final before tax and shipping cost if applicable.
Shipping fees are calculated and are payable per order; where consolidated dispatch of multiple orders as a single unit is not possible for technical reasons. SA Bullion insures all of its order shipments to the Customer for the sale price of the enclosed product purchased from SA Bullion
The Customer further acknowledges that without limiting any of the foregoing, the products and the services provided by SA Bullion and their respective information, pricing and data, and availability are subject at any time and from time to time to human, mechanical, typographic or other errors, oversights, mistakes, limitations, delays, service interruptions, (i) including, without limitation, as may be due in whole or in part to, related to or arising out of SA Bullion’s or SA Bullion’s providers computer hardware and software, telecommunication and operating systems, databases, or business processes and procedures, (ii) as well as other problems inherent in, or which may be associated with, the use of the internet and electronic communications including, without limitation, force majeure events as well as government, regulatory and acts and omissions of third parties affecting or impacting the products and the services provided by SA Bullion, its information and data, or such communications. In consequence, the Customer undertakes to refrain from holding responsible and/or liable whatsoever SA Bullion for delays, failure, or other loss due to, caused by or resulting from any of the problems described here above, in whole or in part.
5. Buying from us
SA Bullion’s sales presentation on the Website does not constitute a binding offer but is merely an invitation for the Customer to deal with SA Bullion. By clicking on the “Submit Order” button, the Customer makes a binding offer to SA Bullion to purchase the Product concerned at the price indicated on the Website. The Customer will then receive an automatic Order Confirmation from SA Bullion.
Until valid payment has been received by SA Bullion, any negative price fluctuation of the Product is for the account of the Customer, and any positive price fluctuation is for the account of SA Bullion.
Prior to the clicking on the “Submit Order” button, the Customer can view and change his/her order by clicking on “Shopping Cart”.
SA Bullion reserves its right to refuse an Order in its free and complete discretion, especially but not limited in cases of no payment, late payment, dysfunction, no availability of the product etc. without being required to indicate the reason.
Upon receipt of payment, SA Bullion will arrange the delivery of the goods according to the shipping method selected by the Customer (shipping or storage).
Once the order confirmation has been sent, the Customer cannot cancel his/her order.
Notwithstanding anything to the contrary provided in the preceding paragraph, if the cancellation of the order of the Customer by SA Bullion is due to a technical reason, such as a dysfunction of the Website and/or the wrong quotation of prices, SA Bullion must notify to the Customer the cancellation within one week of discovering the error (e.g. by e-mail) and will refund the Customer the amount received, as well all transaction fees applicable. If the product has already been sent, the Customer must send it back immediately after receiving the cancellation notification.
6. Payment and retention of title
SA Bullion currently accepts payments for orders in South African Rand (ZAR). The entire invoice amount must always be paid in advance. The Customer can pay either by bank transfer or debit/credit card.
Until full payment of the invoice of a specific delivery, SA Bullion retains the full and extensive title of the product.
Bank transfer payment must be instructed within one (1) hour of the order being placed and all banking fees and commissions fees are borne by the Customer. The Customer undertakes to send to SA Bullion a valid proof of bank transfer issued by the Customer’s bank within one (1) hour of the order being placed. In case of a bank transfer payment, the invoice amount must reach SA Bullion’s account no later than two (2) days following the issuance of the order confirmation. The payment must originate from the bank account of the Customer who has made the Order. The Customer is responsible and will compensate SA Bullion for all fees and costs linked to the refund by SA Bullion of the payment made from an account which does not belong to the Customer.
Default by the Customer on payment of an order is subject to SA Bullion’s market loss policy (see article 12 below) plus a R 1,000 cancellation fee. The Customer must also pay and has full responsibility and liability to SA Bullion for all fees and costs associated with SA Bullion’s efforts in collecting from him/her. If any market loss to SA Bullion has occurred, it will be calculated and added to the R 1,000 cancellation fee. If applicable, the Customer agrees that he/she has full responsibility and liability to SA Bullion for any cancellation fee and/or market loss and agrees to remit immediately (upon notice) to SA Bullion good funds for any cancellation fee and/or market loss. No future order by the Customer is permitted unless and until all market loss is paid in full. Any market gain on Order cancellations vests in and shall remain the property of SA Bullion. Upon written confirmation by SA Bullion of the payment of the R 1,000 cancellation fee plus the market loss, SA Bullion will forgive further action against the Customer and his/her responsibility for any breach by him/her and all resulting damages owed to SA Bullion.
7. Shipping and Transfer of Risk
All Orders are shipped by SA Bullion, at its discretion, by RAM Couriers, BRINKS Global Services or another common carrier. Each package is fully insured. Packages sent by registered and insured mail can take on average 1-10 Business Days to be delivered. This delivery period is however purely indicative and not contractual.
Shipping is only permitted within the borders of South Africa.
Transport costs, taxes and risks inherent to the return of an unclaimed parcel and/or to a possible reshipment, are for the account of the Customer exclusively, as are the risks of storing the merchandise returned. SA Bullion will not reship the Order unless and until SA Bullion is paid in full for any return shipping costs, duties, taxes SA Bullion has had to pay or advance for the Customer as well as any subsequent re-ship fees back to the Customer.
In the event the Customer selects the “Shipping” delivery option, delivery of the goods shall take place at the agreed address. The delivery shall be deemed to be completed when the Products have been handed over to any person at the given address who claims to be authorized. Delivery to a mailbox or a deposit station etc. is not allowed and will not be insured. The person who claims to be authorized can be asked to prove his/her identity.
Should delivery of the goods from SA Bullion fail for any reasons beyond its control, SA Bullion may cancel the contract, and any payments made will be refunded to the Customer. SA Bullion’s statutory rights, in particular, a set off for additional expenses, remain unaffected.
8. Limitation of Damages
SA Bullion shall not be liable for any loss, damage or destruction of Product caused by force majeure.
9. Market loss policy
When the Customer buys from SA Bullion, once SA Bullion has issued an Order Confirmation number, the Customer has a binding contract, the transaction price is locked-in and any corresponding market risk is transferred to the Customer.
Any order cancellation by SA Bullion other than caused by SA Bullion is subject to SA Bullion’s market loss policy plus a one thousand Rand (R 1,000) cancellation fee. The Customer must also pay and has full responsibility and liability to SA Bullion for all fees and costs associated with SA Bullion’s effort to collect it from the Customer. Order cancellation will be confirmed, and the Customer will be given a cancellation number. At that time, if any market loss to SA Bullion has occurred, it will be calculated and added to the R 1,000 cancellation fee. If applicable, the Customer agrees to have full responsibility and liability to SA Bullion for any cancellation fee and/or market loss and agrees to remit immediately (upon notice) to SA Bullion good funds for any cancellation fee and/or market loss. No future order by the Customer will be permitted until the market loss is paid in full. Any market gain on order cancellations vest in and shall remain the property of SA Bullion. Upon written confirmation by SA Bullion of the payment of the R 1,000 cancellation fee plus the market loss, SA Bullion will renounce to civil liability actions against the Customer for any breach by him/her and all resulting damages to SA Bullion.
10. Information requirements in case of transport damage
The shipping insurance ends once the Product has been delivered and the corresponding delivery receipt signed by the Customer.
The Customer has the obligation to refuse any shipment, which appears to be damaged or tampered with as the shipping insurance ends once signed for and/or delivered. When refused, the package(s) will return to SA Bullion for inspection. Customers must immediately submit a complaint by email to the Customer Service so that any associated rights against the shipper/carrier can be preserved.
If there is any disruption in the delivery of a package, the Customer agrees to cooperate with SA Bullion in any investigation or claim process and to take every reasonable action requested of him/her in the process. Failure to fully cooperate will jeopardize coverage that may be provided to the Customer.
11. Defects and liability for damages
In case of defects which are not apparent at the time of delivery against signature, the Customer must notify it to the Customer Service within three (3) business days from the moment that he/she received the Product, otherwise the defect will be considered as accepted.
When purchasing several Products, the defective nature of one of the Products, its replacement or the impossibility of shipping, will not invalidate the entire purchase contract.
Once the claim is filed, SA Bullion reserves its right to re-ship the items or refund the Customer at its discretion, and SA Bullion shall have no further responsibility or liability to the Customer.
12. Anti-money laundering and fight against the financing of terrorism policy
SA Bullion makes it a priority to comply with high standards of anti-money laundering and combating terrorism financing practice.
In this context, SA Bullion applies rigorously the following regulations designated to prevent money laundering in South Africa:
– Financial Intelligence Centre Act (2001)
– Foreign Account Tax Compliance Act (FATCA)
For this purpose, The Customer must supply and disclose to SA Bullion the personal information needed for identification purposes, if the Customer wishes to create, continue or to carry out the business relationship or a particular transaction. The Customer, as SA Bullion’s contractual partner, is subject to a legal obligation to cooperate with SA Bullion; when necessary, the Customer must provide SA Bullion with the information and documentation necessary for identification purposes and must also notify to SA Bullion of any changes which may occur in the course of the business relationship.
In all cases, SA Bullion requires from the Customer his/her name, first name, address, nationality, date of birth and to confirm his/her email address. SA Bullion always matches the contracting partner name between the given information and the credit card/bank payment details.
13. Return policy
At the Customer’s request, SA Bullion may, but is not obligated to provide the Customer with an opportunity to exchange a Product for an identical Product in the event of a material defect. The Customer must receive a written confirmation that the exchange request has been approved. No merchandise will be accepted unless the return has been previously accepted by SA Bullion. If SA Bullion agrees to do so, such exchange must be made within seven (7) business days from the date on which the Customer receives his or her Product(s). After this time, the return will be refused. The return must be made using the original packaging, against signature. The Customer is responsible for the risk of loss during the return shipment. Shipping and handling charges are non-refundable.
14. Applicable law and jurisdiction
This Agreement, as well as sales organized by SA Bullion, are governed by South African Law.
In case of a dispute, the place of jurisdiction is South Africa exclusively.
15. Final Provision
If any provision of this agreement is legally ineffective, this shall not render the entire contract ineffective. Rather, the ineffective provision shall be replaced by a relevant and effective provision corresponding to its economic purpose. The same applies to any gaps in this agreement.
SA Bullion reserves its right to make changes to the GTC which govern the use of the Website and its content at any time. These GTC may be revised at any time, in which case this page will be modified accordingly. The Customer must, from time to time, consult this page in order to become aware of any changes made, as they incur to his/her responsibility.