KJC Group Terms and Conditions
The follow terms and conditions comprise 3 parts (referred to as the KJC Group Terms and Conditions):
PART A: Terms and conditions common to Parts B and C unless expressly modified by Part B or Part C;
PART B: Terms and conditions - buying and selling of bullion;
PART C: Terms and conditions - storage of bullion.
You should carefully read Parts A, B and C before you transact with KJC Coins (Australia) Pty Ltd (KJC Coins) or KJC Secure Vaulting Pty Ltd (KJC Secure Vaulting) as you may be contracting with both KJC Coins and KJC Secure Vaulting such as when you are buying bullion from KJC Coins and wish to have your bullion purchased from KJC Coins stored under storage arrangements offered by KJC Secure Vaulting. By transacting with KJC Group you agree to the KJC Group Terms and Conditions (Agreement).
Part A - Terms common to Part B and Part C
1 Definitions and interpretation
The following terms are defined terms applicable to Part A, Part B and Part C unless expressly stated otherwise:
(a) Anti Money Laundering and Counter Terrorism law ('AML/CTF')
means the Anti Money Laundering and Counter Terrorism Financing Act 2006 (Cth);
(b) KJC Group (or us or our)
(1) KJC Coins (Australia) Pty Ltd (KJC Coins) in relation to Part A and Part B;
(2) KJC Secure Vaulting Pty Ltd (KJC Secure Vaulting) in relation to Part A and Part C,
(1) gold, silver and other precious metals; and
(2) items of a numismatic nature;
(d) Fees and Charges
means the Fees and charges applicable from time to time in relation to the Services and published on our Website;
means, in relation to a party, a reference to winding up or bankruptcy of that party which includes
(2) winding up,
(4) becoming an insolvent under administration (as defined in section 9 of the Corporations Act),
(5) being placed under official management , voluntary administration or having a controller or receiver appointed (over the whole or any part of the assets of a party).
(f) Online Account
means your personal and secure online account to trade using our Online Store;
(g) Online Store
means KJC Group e-commerce store located on our Website;
(h) Registration Form
the form that can be downloaded from our Website to register you as a customer of the KJC Group and includes the personal identification documents required to establish your identity;
(i) Secure Payment Options
means payment made via:
(1) CommBank Simplify; or
(2) POLi payment system;
(j) Security Interest
has the meaning given under section 12 of the Personal Property Securities Act 2009 (Cth);
(1) in relation to KJC Coins, the services of buying and selling Bullion;
(2) in relation to KJC Secure Vaulting, the provision of storage services;
(l) you or your
means you the customer whose details have been provided to us in the relevant Registration Form whether as an individual, company, trustee including as a trustee of a self managed super fund.
In this Agreement unless the context otherwise requires:
(a) words importing the singular include the plural and vice versa;
(b) headings are for convenience only and do not affect interpretation of this Agreement;
(c) the words "includes", "including" or "such as" are not words of limitation, and when introducing an example, do not limit the meaning of the words to which the example relates to examples of a similar kind;
(d) a reference to a clause or paragraph is a reference to a clause or paragraph of this Agreement;
(e) where a word or phrase is given a particular meaning, other parts of speech or grammatical forms of that word or phrase have corresponding meanings;
(f) an expression importing a natural person includes a body corporate, partnership, joint venture, association or other legal entity;
(g) a reference to a document or agreement includes a reference to that document or agreement as amended or replaced from time to time;
(h) a reference to a party to a document includes that party's legal personal representatives, successors and permitted assigns;
(i) a covenant or agreement on the part of or for the benefit of two or more persons binds or benefits them jointly and severally; and
(j) a reference to a body, whether statutory or not, is a reference to the successor of that body or the authority or body that assumes substantially the same functions as the body that previously existed;
(k) no rule of construction applies to the disadvantage of a party because that party was responsible for the preparation of this document.
2 Registration, collection of Personal Information and Privacy
2.1 Identification Requirements
A Registration Form may be required to verify your identity as required under AML/CTF. A Registration Form can be downloaded from our Website. If you wish to transact an amount over $5,000 you must complete the Registration From.
2.2 Incomplete or illegible Registration Form
If a Registration Form is incomplete or illegible KJC Group will at its earliest opportunity ask you to correct the incomplete or illegible details before it can transact with you. Until such time as the form is corrected to the satisfaction of KJC Group, then KJC Group will be under no obligation to provide the Service requested by you.
Any personal and financial information collected by KJC Group will be collected and stored in compliance with Australian laws and regulations. KJC Group will keep your personal information private in accordance with the Australian National Privacy Principles set out in the Privacy Act 1988 (Cth). Other than as required by law or as authorised by law or by you, we will not pass on, sell or swap any of your personal information and such information will be used by KJC Group only for shipping and invoicing information.
Payments for Services can be made by using any one of the following payment methods:
(a) direct credit to the KJC Group nominated account;
(b) Visa, MasterCard and Amex credit cards (see our Website or call us on 1300 844 018). A surcharge may be applicable as notified from time to time on our Website;
(c) Cheque, allowing 7 days for clearance;
(d) by any of the Secure Payment Options. A surcharge may be applicable as notified from time to time on our Website;
(e) cash up to a limit of $10,000 only.
3.2 Payment by cheque
KJC Group will require up to 7 business days to clear any personal, company or bank cheque before Services can be delivered to you.
3.3 KJC Group not responsible for any loss using Secure Payment Options
The Secure Payment Options payment systems is a third party service hosted on a third party website. You use the Secure Payment Options at your own risk.
KJC will not be liable for any loss or damage (including any consequential loss and damage), whether direct or indirect, that you incur as a result of any malfunction of the Secure Payment Options.
3.4 Lien granted by you for unpaid Services
(a) You agree to grant KJC Group a general lien over your Bullion and any other property provided to KJC Group in respect of all fees and charges due or which become due on account of the Services provided by KJC Group.
(b) KJC Group may exercise this lien at any time if an amount is owing to KJC Group for a period in excess of 1 month.
(c) In exercise of the lien KJC Group may:
(1) remove and store your Bullion as KJC Group thinks fit at your risk and your expense;
(2) sell all or part of your Bullion and apply the proceeds to the discharge of the lien and any costs incurred in relation to the sale of your Bullion.
4 Goods and Services Tax ('GST')
4.1 Services subject to GST
GST is payable in addition to the price of the Services (stated ex GST) and in relation to any other charges (ex GST) applicable to the provision of the Services.
4.2 You agree to pay GST
You agree to pay KJC Group the GST on the GST exclusive market value of the Service or charge at the same time as the payment for the Service or charge is due and owing.
4.3 GST and GST exclusive market value
'GST' and 'GST exclusive market value' have the meaning given under A New Tax System (Goods and Services Tax) Act 1999 as amended.
5 Using our Website
5.1 Opening an Online Account
To trade using our Online Store you must open an Online Account. You will be required to provide a username and a password when opening an Online Account.
5.2 Your responsibility in relation to the security of your Online Account
You are responsible for keeping your username and password to your Online Account confidential so that it cannot be accessed by third parties. You are required to exercise proper care by regularly changing your password and not using a password that can be associated with you by reference to your name, birth date, address or other attributes that can be readily associated with you.
5.3 KJC Group will not ask for your username and password
KJC Group will not require you to tell us your username and password and you should not divulge such information to anyone who calls you or asks for your username and password who tells you they are a representative, officer or employee or agent of KJC Group.
5.4 Unauthorised use of your Online Account
KJC Group is not responsible for any unauthorised use of your Online Account. If there are transactions on your Online Account that you have not authorised you must notify us immediately so that we can put a stop on your Online Account and have you issued with a new username and password.
5.5 Suspension or blocking of your Online Account
KJC Group may at its reasonable discretion suspend or block access to your Online Account on the following grounds:
(a) security concerns it has with the use or misuse of the Online Store or your Online Account;
(b) suspicion of unauthorised or fraudulent use of your Online Account.
5.6 Notification of suspension of blocking of your Online Account
You will be promptly advised by a representative of KJC Group of the suspension or blocking of your Online Account. KJC Group may at its discretion provide to you a temporary Online Account but is not obliged to do so.
5.7 Reinstatement of your Online Account
KJC Group will do all things reasonably necessary to reinstate your Online Account if it is satisfied that the concerns it has for suspending or blocking the account have been rectified or addressed.
5.8 KJC Group not liable whilst your Online Account is suspended or blocked
KJC Group is not liable for any loss caused to you whilst your Online Account is suspended or blocked. You release KJC Group from any claim you may have for loss or damage, direct, indirect or consequential, suffered by you because of the suspension or blocking of your Online Account.
By using the Online Store you warrant that:
(a) you are over 18 years of age;
(b) you have read the terms and conditions in Part A and as applicable Part B and Part C of the KJC Group Terms and Conditions;
(c) all details you enter on the Online Store are true and accurate;
(d) by transacting with our Online Store you are authorised to do so, whether by placing an order or making a payment;
(e) there are sufficient funds to cover the amount charged to your debit or credit card at the time you "checkout" from our Online Store.
6 General terms applicable to the Website
6.2 IP address
Whenever you use our Website, or any other Website, the computer on which the web pages are stored (the web server) needs to know the network address of your computer so that it can send the required web pages to your internet browser. The unique network address of your computer is called its "IP address" and is sent automatically each time you access any internet site. From a computer's IP address, it is possible to determine the general geographic location of that computer, but it does not otherwise identify the user.
6.3 Collection of IP addresses
KJC Group does not keep a record of the IP addresses from which users access our Website except where you have specifically provided KJC Group with information about yourself, in which case KJC Group also records your IP address for security purposes. An example of this would be when you are placing an order - your IP address will be stored along with a transaction number that allows KJC Group to track your order.
6.4 Secure payments
All payments made from our Website are made using one of the Secure Payment Options. The security, functionality and content of the Secure Payment Options is not under our control and we are not responsible for any lapse in security through the use of the Secure Payment Options.
6.5 Security Policy
When ordering from the Website, your financial details are passed through a secure server using the latest 256-bit SSL (secure sockets layer) encryption technology. This is the industry standard. Our Website is also continually monitored and approved by Thawte powered by DigiCert. Thawte has verified our identity and that we are the rightful owner and operator of our Website. If you have any questions regarding our security policy, please contact our customer support centre.
6.6 Website information
Our Website may contain information, articles or links to third party Websites. The information contained on our Website is provided in good faith but no representation or warranty of any nature is made as to the completeness or accuracy of such information.
6.7 Website links
Any link to a third party website is provided for your convenience only and we make no warranty nor representation of any kind as to the security, correctness or suitability of any content appearing on third party websites. These third party websites are not under our control and you access these third party websites at your own risk. We are not responsible for any loss or damage suffered by You as a result of your use of a link provided on our website to a third party website.
6.8 Changes to Website
KJC Group reserves the right to make any changes to our Website (including the price of Bullion) at any time without prior notice.
6.9 Spam Act
KJC Group acknowledges and will comply with the requirements of the Spam Act 2003 (Cth) in relation to commercial electronic messages. We will only send email communications to You with your consent and you are at liberty to unsubscribe from email communication at any time.
6.10 Service interruptions
KJC Group will not be responsible for any loss or damage incurred by You where transmission of your instructions via our Online Store is interrupted, unable to be completed or unable to take place due to the failure of any telephone, computer, other electronic or technological device including the provision of third party services to our Website including our 'live spot price' data.
7 Financial Disclaimer and legal advice
7.1 No investment advice given
KJC Group is not a financial services business and is not licensed or authorised to give investment advice or provide financial services. KJC Group is not responsible for any investment decision made by you.
Any information provided on our Website is strictly for informational purposes and is not given or intended as financial or investment advice. KJC Group strongly recommends that you consult a financial services licensee or an authorised representative of a financial services licensee in relation to any investment decisions you make.
7.2 Investment risk
All investments involve different degrees of risk and you should ensure you have sufficient experience and knowledge to make an informed decision to purchase prior to placing any order with KJC Group. We urge all customers of KJC Group to obtain professional advice before proceeding with any transaction with KJC Group.
7.3 You should obtain legal advice
KJC Group does not and will not give legal advice. You should obtain professional legal and financial advice before proceeding with any investment in Bullion offered for sale by KJC Group.
8.1 Governing law
The KJC Group Terms and Conditions will be construed in accordance with the laws in force in New South Wales and the parties submit to the jurisdiction of the Courts of New South Wales.
8.2 No relationship other than as retail merchant and customer
KJC Group as a retail merchant does not have any relationship with you other than that as between a retail merchant and you as the customer. Without limiting the former the relationships excluded are: between employee and employer; between agent and principal, between franchisee and franchisor or as joint venturers.
8.3 Force majeure
If KJC Group cannot perform any of its obligations under this Agreement as a result of any event outside of its control including without limitation government intervention, military action, terrorism, financial crisis, supply shortages of Bullion, failure of a storage provider or anything else that may cause KJC Group to fail to perform its obligations then KJC Group will be excused from performance of its obligations and shall not be liable for such failure or delay.
8.4 Phone Recordings
KJC Group may record phone conversations between you and KJC Group representatives. A KJC Group representative will first ask for your consent before it begins recording any conversation between you and KJC Group.
KJC Group may amend this Agreement at any time by publishing the amended terms on its Website. The amended terms will take effect immediately in relation to any Services provided by KJC Group from the date of publication.
8.6 Entire Agreement
This Agreement comprises the entire understanding between you and KJC Group in relation to the provision of the Services.
Next Page is Part B
Part B: Terms and conditions - buying and selling of bullion
You acknowledge and agree that the terms and conditions in Part A and Part B apply in relation to the sale and purchase of Bullion between you and KJC Coins.
The following are additional terms for the purposes of Part B:
(a) Buy Order
means an order made by you to buy Bullion from us via our Online Store, over the counter at our premises or by telephone or email;
(b) Sell Order
means an order made by you to sell Bullion to us;
(c) Third ('3rd') Party Obligations
means the obligations entered into by KJC Coins making binding financial arrangements with other parties to procure the Bullion to be sold to you and the possibility that KJC Coins may suffer a financial loss on the re-sale of such Bullion if the "live spot price" of the Bullion decreases.
10 Buy Order
10.1 Placing a Buy Order
By placing a Buy Order you acknowledge and agree:
(a) your Buy Order is subject to availability;
(b) the price stated for your Buy Order is based upon our "live spot price";
(c) the "live spot price" cannot be varied because of 3rd Party Obligations;
(d) other charges may be added to the final price to be paid by you including delivery and finance charges (such as any surcharge applicable to a credit card payment);
(e) you agree to make a 10% deposit or payment in full using our Secure Payment Options to "lock in" your Buy Order;
(f) you will receive an acknowledgment of your Buy Order from us including details of your purchase and the balance of the purchase price payable by you to us;
(g) you agree to make payment of the balance of the purchase price strictly within 24 hours (or if payment is due on a public holiday or weekend then the next business day) following receipt of KJC Coins confirmation of your Buy Order. Payment can be made by EFT, cash or cheque or direct credit to KJC Coins account;
(h) KJC Coins retains the right to refuse any Buy Order at its sole discretion and on repayment of any money to you KJC Coins is discharged from any obligations it has to you.
10.2 Contract between you and KJC Coins
A binding contract between you and KJC Coins is formed on payment of the 10% deposit or such greater amount including payment in full. At this time, you assume all price exposure risk on your Buy Order.
10.3 Transfer of title and risk to you
Title in the Bullion passes to you when all of the following has occurred:
(a) you have paid (and funds have been cleared) the whole of the balance of the purchase price specified in the Buy Order;
(b) a tax invoice for the Bullion has been issued to you by KJC Coins; and
(c) compliance with legal requirements for the verification of your identification is completed (see identification requirements in Part A of our General Terms).
11 Sell Order
11.1 Completion of Sell Registration Form
If you wish to sell your Bullion to KJC Coins you must complete the KJC Bullion Sell Registration Form that can be downloaded from the KJC Group Website and send the form complete with your identification documents (see Part A) to our store.
11.2 Description of Bullion to be sold
The Sell Registration Form must be completed with sufficient information for KJC Coins to provide you with a price that it is willing to buy the Bullion from you. You represent and warrant that the information contained in the Sell Registration Form is true and accurate and acknowledge that KJC Coins relies on the information provided by you when determining the price it will offer to you to buy your Bullion.
11.3 Placing a Sell Order
By placing a Sell Order you acknowledge and agree:
(a) an offer made by KJC Coins to buy your Bullion is subject to physical inspection of your Bullion by an authorised representative of KJC Coins. If the Bullion inspected by KJC does not meet the standard or quality of Bullion described in the Sell Registration Form then KJC Coins reserves the right to withdraw its offer or vary its offer to you;
(b) an offer is made based on "live spot prices" and unless accepted by you on the spot is withdrawn immediately;
(c) you may accept the price offered by KJC Coins by signing the Sell Registration Form and sending the form to KJC Coins;
(d) payment will be made by KJC Coins either:
(1) to the account nominated by you in the Sell Registration Form within 24 hours (or if payment is due on a public holiday or weekend then the next business day) following confirmation by you of the price offered by KJC Coins. Payment will only be made to an account opened in your name and nominated by you in the Sell Order; or
(2) on such other terms as agreed to.
11.4 Warranties by You
By completing a Sell Order you warrant that:
(a) you are the legal and beneficial owner of the Bullion described in the Sell Registration Form;
(b) you have not granted any Security Interest, lien or charge over the Bullion described in the Sell Registration Form;
(c) you are not Insolvent.
11.5 Transfer of title and risk to KJC Coins
Title and risk in the Bullion passes to KJC Coins when payment is made by KJC Coins to your nominated account.
12 Delivery and payment
12.1 Delivery of Bullion Australia wide
KJC Coins will deliver your Bullion Australia wide on the basis of information supplied by you in the Buy Order and you must provide your daytime contact telephone number with the information provided by you. Unless KJC Coins defers delivery in accordance with clause 12.3 below, Bullion will generally be dispatched within 5 Business Days of the latter of receipt of full payment or issue of confirmation of acceptance of your Buy Order.
12.2 Delivery of Bullion worldwide
KJC Coins can arrange delivery of your Bullion worldwide. You will be responsible for any tax, customs duty or the like, and any other charges applicable on the import of your Bullion to the destination country nominated by you for final delivery of your Bullion (including any charges on route between Australia and the destination country).
12.3 Additional charges for delivery outside of courier depot destinations
Prices for delivery of your Bullion are based on delivery via the network of destinations serviced by the couriers contracted by KJC Coins. You will be responsible for collection of your Bullion from the courier depot and any additional charges applicable for delivery from the courier depot to your home address.
12.4 When delivery may be delayed
KJC Coins may delay the delivery of the Bullion if:
(a) the Bullion is on back order;
(b) it is not satisfied on reasonable grounds with the details of your identity contained in your Registration Form; or
(c) shipping times are delayed beyond the control of KJC Coins.
12.5 Delivery Buying Bullion
Once KJC Coins is satisfied that all identification requirements have been completed, KJC Coins will generally dispatch the Bullion within 5 Business Days after the balance of the purchase price has been paid and KJC Coins will not be liable for any loss or damage directly suffered by you arising directly or indirectly from any delay in delivery of the Bullion associated with your identification requirements.
12.6 Back order delay
If your Bullion is on back order, you will either be advised or notified of any back order delay:
(a) when you are compiling your Buy Order on your screen; or alternatively
(b) when you receive confirmation of the Buy Order.
Delivery of Bullion on back order may be further delayed for reasons beyond the control of KJC Coins. KJC Coins is not liable for any loss or damage directly suffered by you arising directly or indirectly from any delay in delivery of Bullion on back order.
12.7 KJC Coins not liable for back order delays and shipping times
Because back orders and shipping times are beyond the control of KJC Coins and are subject to supplier and production delays, which may vary on a case by case basis:
(a) KJC Coins will not be liable for any loss or damage directly suffered by You arising directly or indirectly from any delay in delivery of Bullion; and
(b) you are not entitled to terminate any agreement to buy Bullion from KJC Coins because of any back order or shipping delay that has not been directly and solely caused by KJC Coins.
12.8 Changes to shipping costs
Whilst confirmed shipping costs for your order will be included in your purchase price, KJC Coins is entitled to increase these confirmed shipping costs on the terms set out below. If confirmed shipping costs are increased, then KJC Coins will notify you of the increase.
12.9 Responsibility for payment of increased shipping costs
Given the ongoing 3rd Party Obligations and because KJC Coins cannot control delivery costs in the circumstances set out below:
(a) you are not entitled to cancel your order if there is any increase in any shipping cost, and KJC Coins is not responsible for any increase in delivery cost if:
(1) the information supplied by You is not accurate, or
(2) the cost of shipping subsequently increases by reason of increases in the cost of materials and/or labour and/or the costs charged to KJC Coins by third party suppliers and/or for any factor outside the control of KJC Coins, or
(3) KJC Coins decides to change the shipping arrangements because of unsatisfactory security risks (see below), or
(4) shipping arrangements are changed by KJC Coins for insurance purposes (see below); and
(b) you are solely responsible for any such increase in the cost of the confirmed shipping costs.
12.10 Changed delivery arrangements if there is a security risk
KJC Coins may change the shipping arrangements to ensure secure delivery at your cost if:
(a) you have placed a large order, the value of which exceeds the insurable value of such an order on a single shipment/delivery basis; or
(b) if KJC Coins reasonably believes that the specified area for delivery of the Bullion is a high risk, remote or unsafe delivery location.
12.11 Insurance of Bullion
The delivery of Bullion pursuant to a Buy Order will be insured on a single shipment/delivery basis for a maximum value not exceeding $60,000 (Sixty Thousand Dollars). As such, if your order is valued at more than $60,000 KJC Coins will, at your cost, ship your Bullion in two or more parcels to ensure that the Bullion is insured.
12.12 You can make your own Delivery arrangements
If any notified increase in shipping costs is unacceptable to you, then you must immediately:
(a) advise KJC Coins that you will make your own delivery arrangements; and
(b) at your own cost and risk make alternative arrangements for the collection of the Bullion from the premises of KJC Coins. Such alternative arrangements must be made directly by telephone with KJC Coins and confirmed by either you or by KJC Coins by email or fax.
12.13 Adjustment to delivery cost
On notification of your alternative arrangements for collection of the Bullion, KJC Coins will adjust the purchase price of your Bullion by the amount of any shipping costs invoiced to you that you no longer require. If the new arrangements involve some cost to KJC Coins, then any adjustment will reflect the expense that KJC Coins will incur as a result of you making your own arrangements.
12.14 Collection of the Bullion in person by You
Bullion can only be collected in person:
(a) by you on production of satisfactory identification; or
(b) by your agent with your prior written express authority upon production of satisfactory identification by the agent.
(a) the Bullion is collected by a person using misleading or fraudulent identification or fraudulent written authority for collection at your nominated delivery address;
(b) you provide incorrect delivery details;
(c) a third party signs for delivery of the Bullion at the delivery address provided using misleading or fraudulent identification; or
(d) you amend or vary any delivery instructions that KJC Coins has provided to the specified delivery carrier.
12.16 Insurance ceases 2 days after first delivery attempt
KJC Coins has in place complimentary insurance for loss or damage to your Bullion in the event delivery of your Bullion to your nominated address is not effected on the first occasion delivery is attempted. Such insurance expires at the end of the second business day immediately following notification given to you by KJC Coins or the courier engaged by KJC Coins of the first attempted delivery. Notification is given by leaving a delivery note at the nominated address and/or by emailing you. For the avoidance of doubt you assume all risk of loss or damage to your Bullion from the second business day after notification is given to you of first attempted delivery. .
12.17 When you must make your own insurance arrangements
You agree to insure your Bullion for its Replacement Value when title passes to you.
12.18 Charges for Uncollected Bullion
KJC Coins reserves the right to charge you a storage fee for Bullion purchased and paid for by you that has not been collected within 14 days of notice given to you by KJC Coins that the Bullion is available for collection.
13 Refund and exchange policy
13.1 When KJC Coins will exchange the goods
If any Bullion delivered by KJC Coins is not in accordance with the Bullion described in your Buy Order then:
(a) provided KJC Coins is notified within three (3) Business Days (or such extended time period that is agreed to by a director of KJC Coins in email or by fax) of the nature and extent of such discrepancy; and
(b) provided at your cost, you expeditiously return such Bullion to the Sydney Office of KJC Coins, together with appropriate evidence of its purchase by You (if required by KJC Coins); then
(c) subject to clause 13.4 below, KJC Coins will, within 3 Business Days of the Bullion being returned to Sydney (but subject to paragraphs 12.3 to 12.8 above), supply to you Bullion in accordance with your Buy Order and refund any return delivery cost incurred by you.
13.2 You bear risk (including insurance risk) until Bullion is returned
Until the return of such Bullion to KJC Coins:
(a) you continue to bear the risk and title in such Bullion;
(b) KJC Coins is not responsible for any item that is lost in the return shipment to KJC Coins (and KJC Coins recommends that you take out insurance as KJC Coins does not provide return transit insurance); and
(c) it is your responsibility to ensure that the returned items are adequately packaged so that they are not damaged during return transit as KJC Coins will not accept delivery of any damaged Bullion.
13.3 When KJC Coins will not provide a refund
No refund will be provided by KJC:
(a) if you change your mind in respect of the Bullion;
(b) if you have made a wrong decision in respect of the Bullion;
(c) if you wish to purchase a different product instead of the Bullion;
(d) if the price of the Bullion changes after your Buy Order is confirmed;
(e) if you find the Bullion for sale elsewhere at a lower price.
13.4 KJC Coins may decide to refund rather than exchange
Provided KJC refunds the whole of the monies paid by you (including any return delivery cost) within 3 Business Days of receipt by KJC Coins of such returned Bullion, KJC Coins may, in its absolute discretion, decline to exchange the returned Bullion with the Bullion specified in your Buy Order.
14 Breach by You or KJC Coins and consequences
14.1 Breach by you
If after the issue by KJC Coins to You of a Buy Order acknowledgment, you:
(a) cancel or purport to cancel your Buy Order;
(b) fail to pay on time the whole of your payment obligations specified in any Buy Order, for any reason including:
(1) your death or Insolvency;
(2) any malfunction of the KJC Coins On Line Store; or
(3) any malfunction of the Secure Payment Options; or
(c) terminate, cancel or suspend the operation of this agreement without the prior written consent of KJC Coins,
then such action will constitute a repudiation of this agreement by you and KJC Coins will immediately terminate this agreement by written notice to you.
14.2 Consequences of breach by you
Any termination of this agreement by KJC Coins because of your breach will cause KJC Coins loss, damage and expense and you are required to indemnify KJC Coins from any loss, damage and expense suffered by it arising from your breach.
14.3 Forfeiture of your 10% deposit and your further obligations on breach
On termination of this agreement by KJC Coins as a consequence of your breach:
(a) your 10% deposit will be immediately forfeited and retained by KJC Coins to compensate KJC (in whole or in part) for any loss, damage and expense suffered by KJC Coins in relation to:
(1) any administration costs, finance costs and further expenses incurred by KJC Coins relating to your Buy Order including:
(A) making arrangements for the sale and delivery of the Bullion to You, and
(B) in disposing of the Bullion that KJC Coins acquired on receipt of your Buy Order.
(2) any financial loss (excluding any Significant Market Loss see below) that KJC Coins may suffer by the immediate disposal of the Bullion acquired by KJC Coins on receipt of your Buy Order;
(3) any other financial loss including:
(A) any opportunity cost incurred by KJC Coins on the money it expended in acquiring the Bullion;
(B) any interest cost incurred by KJC Coins in funding the acquisition of such Bullion; and
(C) damages for the lost profit or gain which KJC Coins would have made on the sale of Bullion had You not breached this agreement;
(4) in addition, you are required to indemnify KJC Coins for any Significant Market Loss that KJC Coins may incur as a consequence of your breach as described below.
14.4 Significant Market Loss
Because of its 3rd Party Obligations, KJC Coins will promptly re-sell the Bullion it acquired in respect of your Buy Order. If the re-sale price of such Bullion results in KJC Coins making a significant market loss that exceeds the 10% deposit that You have forfeited ("Significant Market Loss"), then:
(a) you will be responsible for the payment to KJC Coins of the amount by which any such Significant Market Loss exceeds your 10% forfeited deposit; and
(b) you agree and authorise KJC Coins to pay to itself by deduction from your credit card such amount and if the charge by KJC to your credit card does not result in the payment of funds to KJC Coins of such amount then such amount will become immediately due and payable as a debt by You to KJC Coins.
14.5 KJC Coins is not responsible for the following matters
KJC Coins is not responsible to You:
(a) for back order delay or for any increase in shipping costs as set out in clause 12.7 above; or
(b) for any loss that You incur for non-delivery of the Bullion in circumstances where the provisions in clause 12.15 apply.
14.6 Breach of this agreement by KJC Coins
Except as permitted by this agreement, if KJC Coins fails:
(a) to dispatch ordered Bullion within 10 Business Days;
(b) to deliver the Bullion in accordance with this agreement; or
(c) to comply with its refund and exchange policy; and
(d) does not rectify any such failure within 10 days of the receipt of any written notice by you requiring the rectification,
then KJC Coins will be in breach of this agreement.
14.7 Limited liability of KJC Coins to compensate
Any liability of KJC Coins under this agreement for breach will be limited to the value of the Bullion specified in the Buy Order and KJC Coins is not liable for any other expense. In particular KJC Coins is not responsible for any consequential, exemplary or indirect loss, damages or expense that you have or may suffer or incur.
14.8 Termination by mutual agreement
This agreement can be terminated in writing signed by both parties on such terms as both parties may agree. Any termination of this agreement with the consent of KJC Coins must be signed by one of the directors of KJC Coins.
Next Page is Part C
PART C: Terms and conditions - storage of bullion
You acknowledge and agree that the terms and conditions in Part A and Part C apply in relation to the storage service provided to you by KJC Secure Vaulting.
The defined terms in Part A and the following terms are defined terms applicable to Part C unless expressly stated otherwise:
(a) Entry From
means the registration form to be completed (including personal identification of you) before KJC Secure Vaulting will accept storage of your Bullion which can be downloaded from our Website;
(b) Exit Form
means the registration form to be completed (including personal identification checks) before KJC Secure Vaulting will release Bullion stored by it into your possession which can be downloaded from our Website;
(c) Replacement Value
means the replacement market value of the Bullion that is the same as the lost or damaged Bullion or bullion that is similar to that of the lost or damaged Bullion ;
(d) Storage Premises
(1) premises owned or leased by KJC Secure Vaulting (KJC Facilities); and
(2) premises of 3rd Party Storage Providers (3rd Party Premises);
(e) Third (3rd) Party Storage Providers
means the contractual arrangements KJC Secure Vaulting has entered into with third parties for the provision of secure storage facilities for bullion, collectibles rare coins and like property. Currently KJC Secure Vaulting has an arrangement with G4S International Logistics (Australia) Pty Ltd ABN 67 085 449 029 as a 3rd Party Storage Provider.
16 Deposit of Bullion for storage
16.1 Entry Form
You must complete an Entry Form if your require us to store your Bullion.
16.2 Minimum quarterly storage fees
(a) Subject to paragraph (b) a minimum quarterly storage charge applies. See our Fees and Charges.
(b) For the first quarter of your storage account with us the minimum quarterly storage charge is prorated according to the number of whole calendar months remaining in the quarter that you first deposit your Bullion with us for storage.
16.3 Delivery of Bullion by You
You will be responsible for the delivery of Bullion in your personal possession, custody and control that you require to be stored with us. KJC Secure Vaulting does not assume any responsibility for loss, damage or destruction to your Bullion until such time as your Bullion has been placed into our custody and possession and receipted by us as Bullion stored on the terms contained in Parts A and C of the KJC Group Terms and Conditions.
16.4 Risk of loss or damage with you until Bullion is in our custody and possession
You accept all risk of loss, damage or destruction to your Bullion until it is in our custody and possession and has been acknowledged by us on the terms contained in Parts A and C of the KJC Group Terms and Conditions.
16.5 Where we store your Bullion
Your Bullion is stored by us at the KJC Facilities or at 3rd Party Storage Premises.
16.6 KJC Secure Vaulting discretion to select appropriate storage premises
KJC Secure Vaulting will select the appropriate premises to store your Bullion and may transfer your Bullion between Storage Premises.
16.7 Dedicated express inlay
If you require a dedicated express inlay service for urgent storage of your Bullion a special service fee will apply (see Fees and Charges).
17 Release, collection and shipping of your Bullion in storage
17.1 Exit Form
You must complete and send to us an Exit Form if you require us to remove part or all of your Bullion from the Storage Premises. The Exit Form must state:
(a) the Bullion you require to be removed from storage with sufficient precision for us to identify the Bullion (unless the Bullion is capable of being identified because it is separately bagged/sealed/boxed);
(b) if the Bullion is to be shipped by us, by nominating an address for shipment that sufficiently identifies a place by reference to a street address, town and postcode and nominating a person whose identity can be verified;
(c) if the Bullion is to be collected from KJC Facilities by you or a person nominated by you;
(d) such other information as stated on the Exit Form.
(b) Bullion removed from storage will be available for collection or shipment at the end of the quarter that notice is given under 17.2(a) ( ie March 31, June 30, September 30 and December 31).
(c) Additional fees apply if you require collection or shipment to take place prior to the end of the quarter (see 17.8 and Fees and Charges).
17.3 Delays in removing your Bullion from storage
Delays may be caused in removing your Bullion from the Storage Premises for the following reasons:
(a) you fail to complete the Exit Form;
(b) there are circumstances outside the control of KJC Secure Vaulting that preclude it from gaining access to your Bullion;
(c) if your Bullion is stored with 3rd Party Storage Providers the removal of your Bullion will be subject to the delivery and collection schedules we have with the 3rd Party Storage Providers.
17.4 No liability for delay
KJC Secure Vaulting will not be liable for any loss or damage suffered by you arising directly or indirectly from any delay in removal of your Bullion from the Storage Premises.
17.5 Collecting your Bullion
(a) You or the person you authorise will be responsible for collecting your Bullion from the Storage Premises during trading hours.
(b) You or the person you authorise will be required to satisfy the identification requirements in Part A (including any agent of yours) before we release any bullion to you or the person nominated by you in the Exit Form.
17.6 Uncollected Bullion
KJC Secure Vaulting will not accept any responsibility for loss, destruction or damage to your Bullion that has been removed from storage and held for collection at KJC Facilities for more than 14 days. You will incur storage charges if your Bullion is held for collection by KJC Secure Vaulting for more than 14 days.
17.7 Shipping your Bullion
(a) KJC Secure Vaulting has in place complimentary insurance for loss or damage to your Bullion in the event delivery of your Bullion to your nominated address is not effected on the first occasion delivery is attempted. Such insurance expires at the end of the second business day immediately following notification given to you by KJC Secure Vaulting or the courier engaged by KJC Secure Vaulting of the first attempted delivery. Notification is given by leaving a delivery note at the nominated address and/or by emailing you. For the avoidance of doubt You assume all risk of loss or damage to your Bullion from the second business day after notification is given to you of first attempted delivery.
(b) If you have a storage account opened with us for more than 12 months and you request removal of all your Bullion from storage for shipment you will only be charged our standard shipping charges which includes insurance (see Fees and Charges). Shipping times may vary subject to the scheduling of deliveries and collections from 3rd Party Storage Providers.
17.9 KJC Secure Vaulting not liable for delays in shipment
KJC Secure Vaulting will not be liable for any delays in the shipping of your Bullion. Upon receipt of your Exit Form KJC Secure Vaulting will on your behalf engage the services of a secure carrier to ship your Bullion to you or the address nominated by you in the Exit Form.
17.10 Payment of all fees before Bullion is released
You are required to pay all fees and charges due and owing to KJC Secure Vaulting before we release your Bullion to you. Until such time as your account has been paid in full KJC Secure Vaulting holds a lien over your Bullion to secure any unpaid fees and charges incurred by you and may exercise its rights under the lien as set out in Part A if the amount payable remains outstanding for more than 30 days.
18 Request to sell your stored Bullion
18.1 Sale of your Bullion to KJC Coins
If in the Exit Form you request the sale of your Bullion held by us you do so on terms that your sale will be to KJC Coins on the terms and conditions contained in Parts A and B of the KJC Group General Terms and Conditions.
18.2 KJC Secure Vaulting holds your Bullion until the sale is completed
Until a sale is completed between you and KJC Coins of the Bullion agreed to be sold by you and purchased by KJC Coins (the Sale Bullion) KJC Secure Vaulting will hold the Sale Bullion on the same terms as the Sale Bullion was stored with KJC Secure Vaulting including any Fees and Charges.
18.3 Authority to deduct any Fees and Charges of KJC Secure Vaulting
You authorise KJC Coins to deduct any Fees and Charges of KJC Secure Vaulting incurred by you whilst the Sale Bullion is held by KJC Secure Vaulting up until the completion of the sale of the Sale Bullion.
19 KJC Secure Vaulting as bailee of your Bullion and sub bailments
19.1 Our relationship to you as bailee of your Bullion
KJC Secure Vaulting holds your Bullion as bailee. As bailee of your Bullion KJC Secure Vaulting agrees to:
(a) exercise due care and diligence in the management, handling and storage of your Bullion;
(b) ensure that Storage Premises used by KJC Secure Vaulting are of a standard fit for storage of bullion, rare coins and of like property;
(c) keep and maintain proper records of your Bullion;
(d) have in place at all times liability insurance for loss, damage or destruction of your Bullion up to its Replacement Value.
19.2 KJC Secure Vaulting contractual arrangements with third party storage providers
KJC Secure Vaulting may from time to time engage the services of 3rd Party Storage Providers.
19.3 You consent to your Bullion being stored with 3rd Party Storage Providers
You consent to KJC Secure Vaulting as bailee of your Bullion to hand over custody and possession of your Bullion to a 3rd Party Storage Provider (known as a sub bailee) on the condition that the 3rd Party Storage Provider has in place insurance of your Bullion up to its Replacement Value to cover any loss, damage or destruction caused to your Bullion whilst your Bullion is in the custody and possession of the sub bailee.
(a) the 3rd Party Storage Provider to another storage provider; and
(b) any sub bailment subsequent to the sub bailment in (a).
A sub bailment under this clause 19.4 is limited to a sub bailment that is permitted under the arrangements KJC Secure Vaulting has with its 3rd Party Storage.
20 Storage fees, payment and rights of KJC Secure Vaulting
Storage fees are set out on our Website (see Fees and Charges) and may vary from time to time. Our fees and charges include:
(a) our storage fee;
(b) a minimum charge for storage;
(c) an exit fee where a storage account has been closed short of the 12 month minimum period;
(d) a minimum storage account fee is applicable if the storage fee calculated based on your Bullion in storage is less than the minimum fee;
(e) fees for special or express services.
Payment can be made by any one of the payment methods set out in Part A.
20.3 Lien of KJC Secure Vaulting
KJC Secure Vaulting claims a lien on the terms contained in Part A over your Bullion in relation to any unpaid storage fees.
21.1 Insurance for storage of your Bullion
KJC Secure Vaulting is nominated as the insured under policies of insurance taken out by it, or on its behalf, for your Bullion stored at KJC Facilities or with 3rd Party Storage Providers.
21.2 Insured amount and payment on the policy
Your Bullion is insured for its Replacement Value and payment on the policy is made to KJC Secure Vaulting, or its associate, as the nominated insured.
21.3 Evidence of Insurance
KJC Secure Vaulting may on written request provide evidence of the insurance in place in respect of the Storage Premises at which your Bullion is stored.
22 Record keeping and auditing of your Bullion
22.1 Record keeping
KJC Secure Vaulting maintains records of your Bullion held by it or any 3rd Party Storage Provider.
22.2 Audit of 3rd party storage providers
KJC Secure Vaulting has at all reasonable times access to the premises of 3rd Party Storage Providers to carry out, or cause to be carried out, an audit of your Bullion held with such 3rd Party Storage Providers.
22.3 Request for audit
You may make a written request for an audit of your Bullion with 3rd Party Storage Providers. Such a request must be made to KJC Secure Vaulting who will then arrange for a representative of KJC Secure Vaulting to attend the Storage Premises at which your Bullion is stored for the purposes of carrying out an audit to verify the Bullion stored under your name. Fees and charges may apply for this service (See Fees and Charges).
23.1 Warranties given by you
You warrant that:
(a) you are the legal and beneficial owner of the Bullion;
(b) you have not granted any Security Interest (excluding the Security Interest held by KJC Secure Vaulting as bailee of the Bullion) charge, lien, pledge in your Bullion.
23.2 Warranties given by KJC Secure Vaulting
KJC Secure Vaulting warrants that:
(a) it will provide or procure secure storage of your Bullion;
(b) it will provide and maintain insurance for loss, damage or destruction of your Bullion up to the Replacement Value of your Bullion;
(c) as baliee of your Bullion it will do all things reasonably necessary to procure from any 3rd Party Storage Provider (known as a sub bailee) to KJC Secure Vaulting a Security Interest in your Bullion to secure your Bullion to the fullest extent permitted by law from any claims made against the sub bailee.
24 Exclusions and limitations
24.1 Exclusion of warranties and conditions implied by law
To the maximum extent permissible by law KJC Secure Vaulting excludes all warranties, conditions and terms that may otherwise be implied by law, statute or custom in relation to the storage services provided by it to you.
24.2 Limitation of Liability
To the fullest extent permitted by law KJC Secure Vaulting liability for loss, damage or destruction to your Bullion however arising (whether in contract, tort or bailment) shall be limited to the lesser of:
(a) the Replacement Value of your Bullion; and
(b) the amount that is recoverable under the policy of insurance for the Storage Premises where the Bullion is stored (including any deductible payable under that policy) in respect of that loss, damage or destruction caused to your Bullion.
24.3 No liability
KJC Secure Vaulting shall not be liable for loss, damage or destruction arising directly or indirectly from the following risks:
(a) Acts of God, riots, civil disturbance, war, insurrection;
(b) hostile or war-like action in time of peace or war including, without limitation, action in hindering, combating or defending against an actual, impending or expected attack;
(c) by any government or sovereign power or by any authority or power maintaining or using military, naval, or air forces, or
(d) by an agent or agents of any such government, power, authority, or forces;
(e) any weapon of war employ_ing atomic fission or radioactive force whether in time of peace or war;
(f) insurrection, rebellion, revolution, civil war, civil disturbance, usurped power, or action taken by governmental authority in hindering, seizure or destruction under quarantine or customs regulations, or confiscation by order of any government or public authority, or risks of contraband or illegal transportation or trade;
(g) nuclear reaction or nuclear radiation or radioactive contamination;
(h) shortages claimed in the contents of sealed or locked shipments;
(i) any act or default by you that is the direct and proximate cause of a loss, damage or destruction;
(j) acts of terrorism not covered by KJC Secure Vaulting's insurance or the policy insurance in place at Storage Premises except to the extent that Australian law mandates that insurance is provided as a paramount and continuing obligation in Australia for the benefit of the consumers in respect of acts of terrorism pursuant to the Terrorism Insurance Act 2003 (Commonwealth);
(k) failure by You to comply in all aspects with the laws (local or otherwise) of any country within whose jurisdiction the Bullion is stored.