These terms and conditions of use (the “Terms”) apply to you when you access and use the Website and the Services (as defined below) that are offered by MyGold, and set out how you may use and access the Website and the Services.
By accessing the Website and/or Services, you are agreeing to these Terms and entering into a legally binding agreement with MyGold. In particular, you are acknowledging and agreeing that you have read and understood the “Acknowledgement of Risk” section in clause 3 below. If you do not agree to these Terms, you must cease using our Website and Services immediately.
1 – Definitions
1.1 – The website www.mygold.co.nz (the “Website“) is operated by MyGold Limited. In these terms, any reference to “we”, “our”, “us” or “MyGold” means MyGold Limited, and, and any reference to “you” or “your” means you, the person or entity who accesses and/or uses the Website and/or the Services.
1.2 – The Website enables individuals to acquire gold and silver bullion (“Bullion”), and digital currency (which may also be known as cryptocurrencies, e-money, virtual money, alt-coins) (together, “Digital Currency”). Our services include the sale and purchase of Bullion, and the sale and exchange of Digital Currency (collectively the “Services”).
2 – Services
2.1 – If you wish to access and receive the Services, you must contact us:
- by the telephone number on the Website;
- by submitting an inquiry form through our Website; or
- by email,
and provide us with photo identification, as requested by us, to satisfy us as to your identity (each, a “Request”). Where you are wishing to purchase Bullion or Digital Currency, you must also specify how much money in New Zealand Dollars (“NZ$”) you would like to spend and whether this is for the purchase of Bullion or Cryptocurrency (subject to any minimum spend amount that we notify to you, either through the Website or in person, from time-to-time) (“Spend Amount”).
2.2 – You may only make a Request if you are at least 18 years old and resident in New Zealand.
2.3 – By making a Request, you consent to:
- us contacting you about your proposed use of the Services;
- allowing us to use your personal information to make enquiries to verify your identity either directly or through third parties, in order to protect our Website, Services and other users against fraud or illegal activities and to meet our anti-money laundering requirements. If we are not satisfied with the outcome of such enquiries, we may terminate your use of the Services and the Website immediately.
2.4 – Before providing any Service to you, or at any later time, we may need to get information from you, including to verify your identity and for other compliance purposes. Until we have all of the information we need we may delay trading with you, suspend access to any account you have with us, or withhold settlement of any transaction. You warrant and represent that any such information you provide to us is complete and accurate. We may also use an electronic verification service and/or approach a credit reference agency to confirm your identity, and of anyone else providing or receiving money on your behalf, and by dealing with us you consent to this and confirm that you have the consent of any person providing or receiving money on your behalf.
3 – Acknowledgement of risk
3.1 – MyGold is a commodity and Digital Currency trading business specialising in precious metal and Digital Currencies. We are not a financial institution or advisory company. You acknowledge that we do not issue financial products or provide any financial advice and no offer or other disclosure document has been, or will be, prepared in relation to the Services, the Website, Bullion and/or any of the Digital Currencies, under the Financial Markets Conduct Act 2013, the Financial Advisers Act 2008 or any other similar legislation.
3.2 – You acknowledge and agree that Bullion is a commodity that is priced according to a highly volatile, often fast moving market that may be turbulent. Accordingly, the trading and/or holding of Bullion carries significant risk and you should careful consider and assess whether trading or holding of Bullion is suitable for you depending upon your financial circumstances and tolerance to risk and you should take independent financial advice.
3.3 – You acknowledge and agree that:
- the trading and/or holding of Digital Currency is unlike traditional currencies, goods or commodities in the market: it involves significant and exceptional risks and the losses can be substantial. You should carefully consider and assess whether trading or holding of digital currency is suitable for you depending upon your financial circumstances and tolerance to risk and you should take independent financial advice;
- once a transaction involving the transfer of Digital Currencies has been completed, it is impossible to reverse it;
- unlike other traditional forms of currency, Digital Currency is decentralised and is not backed by a central bank, government or legal entities. As such, the value of Digital Currencies is extremely volatile and may swing depending upon the market, confidence of investors, competing currencies, regulatory announcements or changes, technical problems or any other factors. MyGold makes no warranties or representations as to the future value of any Digital Currencies and accepts no liability for any change in value of your Digital Currencies;
- you must exercise extreme caution whenever you select, store or transmit your private keys that relate to the Digital Currency in your electronic wallet that stores your Digital Currency (“Wallet”). If another person learns your private key then they can take your funds. If you forget or lose your private key or password, you acknowledge that (i) we do not keep a record of that private key; (ii) that we cannot provide a back-up; (iii) you will not be able to access your Wallet or any of the Digital Currency within it; and (iv) you will lose your Digital Currency; and
- MyGold is not responsible or liable for your Wallet in any way, including for any misappropriation, loss or theft of your Wallet. We do not retain “back-ups” of the Wallet or any records of the Digital Currencies that it contains. You acknowledge that it is important for you to take precautions when transferring and storing your Wallet and that you should familiarise yourself with the security measures available when using an e-wallet service or other device for storage. You acknowledge that you should always take a greater degree of care and precaution to secure your passwords when operating in a digital environment.
4 – Appointment as agent
4.1 – You appoint MyGold, and MyGold accepts the appointment, to act as your agent solely for the limited purpose of the purchase of Digital Currency that you have ordered through our Services, in accordance with the terms and conditions of these Terms.
5 – Sale of Bullion
5.1 – In order for you to sell Bullion to us you must contact us:
- by the telephone number on the Website;
- by submitting an inquiry form through our Website; or
- by email or live chat.
5.2 – Upon receiving such an inquiry, we will contact you to determine the details and terms of such transaction, which will be recorded in writing in a “Purchase Confirmation Form”.
5.3 No contract will be concluded, and we will not be obliged to perform our obligations under the Purchase Confirmation Form until:
- you have signed the form and returned it to us in the manner specified by us; and
- your identity has been verified by us in a manner that is satisfactory to us.
6 – Price and Service Fees
6.1 – To purchase Digital Currency, and sell or purchase Bullion, using the Services, you must submit a Request.
6.2 – You acknowledge that prices for Bullion and Digital Currencies as set out on the Website are provided as a guide only, and are subject to change and may not be confirmed until the time of purchase.
6.3 – We will respond to your Request by contacting you directly to discuss your purchase of Bullion or Digital Currency and will email you a purchase order setting out the agreed product that you will purchase, the quantity, the cost, and payment details (“Purchase Order”). You acknowledge that the amount of Digital Currency and/or Bullion that you may purchase for the nominated Spend Amount as detailed in the Purchase Order:
- is only fixed for a period of ten minutes from the time that we have sent your Purchase Order to your nominated email address as advised from you to us (the “Purchase Window”); and
- given the volatile nature of Digital Currencies and the commodity market for Bullion, cannot be guaranteed beyond the Purchase Window;
- unless stated otherwise, is exclusive of delivery charges and Goods and Services Tax (as that term is defined in the Goods and Services Tax Act 1985), which are your responsibility to pay; and
- is inclusive of all fees, including:
- exchange fees; and
- our processing fee, which we are entitled to deduct from the Spend Amount for processing the transactions using our Services.
6.4 – To complete the transaction and purchase the Bullion and/or Digital Currency, you must promptly deposit the Spend Amount in our bank account within the Purchase Window and send us proof of such deposit in the manner requested by us. You acknowledge and agree that:
- we will not purchase any Bullion and/or Digital Currency on your behalf until we have received the Spend Amount in cleared funds into our nominated bank account (details of which are set out in your Purchase Order);
- once you have deposited the Spend Amount into our bank account, the transaction for the purchase of Bullion and/or Digital Currency cannot be cancelled or amended by you; and
- we will not be obliged to fulfil any Request if we do not receive the Spend Amount in cleared funds into our nominated bank account within the Purchase Window.
6.5 – The sale of any Bullion and/or Digital Currency on the Website is deemed to take place in New Zealand. On completion of the sale, you are deemed to take possession of your Bullion and/or Digital Currency in New Zealand.
6.6 – We reserve the right to delay, suspend or cancel a transaction if:
- we believe the transaction may include, enable or be linked to illegal activity;
- there are technical reasons that prevent us from completing the transaction; or
- we receive a request from a law enforcement or government agency to do so.
7 – Terms of payment
7.1 – You must make payment of all amounts owing without set-off or deduction.
7.2 – You agree that we may send you invoices by email.
7.3 – If you fail to make payment in accordance with the particulars stated on your invoice, then notwithstanding our other rights and remedies, all amounts owed to us shall immediately become due and payable.
7.4 – Interest on overdue invoices shall accrue on a daily basis from the date when payment becomes due until receipt of payment in full and cleared funds by us at a rate of 2% above the current overdraft rate which we have with our principal trading bank (in addition to you remaining liable for the full amount outstanding), which you agree is a reasonable pre-estimate of our loss due to such payment breach and is not a penalty.
7.5 – We shall be entitled to claim from you all costs, expenses and charges (including costs on a solicitor/client basis and debt collectors’ costs) incurred to recover monies or Bullion due from you pursuant to these Terms.
7.6 – Any payments required by us under a Purchase Confirmation Form will be paid in accordance with the terms of the Purchase Confirmation Form.
7.7 – Payment will be made by direct deposit to your nominated bank account or by cheque provided to you in person or by post.
8 – Delivery
8.1 – Dates given for delivery are stated in good faith but are not to be treated as a condition of the sale. If delivery of the Bullion and/or any Digital Currency is delayed for any reason, to the maximum extent permitted by law we will not be responsible or liable in any way to you or any other party for loss or damages suffered directly or indirectly by you due to that delay.
8.2 – We may make delivery of Bullion by instalments and, where you are receiving the Bullion “in trade” (as that term is defined in the Consumer Guarantees Act 1993), we may cancel delivery of the Bullion or any instalments of the Bullion without limiting or affecting our rights to recover all money you owe us for deliveries already made.
9 – Ownership and risk
9.1 – For the delivery of Bullion, we suggest that you use a courier service that offers insurance and requires a signature on delivery (“Secure Courier Service”). Where:
- you use such Secure Courier Service, title and risk in the Bullion will pass to you upon being signed for as being delivered at the place of delivery that you have nominated in writing to us. You acknowledge that if you have accepted delivery on the basis of “Authority to Leave” or equivalent, then title and risk in the Bullion will pass to you upon the courier delivering the relevant items to the place of delivery that you have nominated in writing to us;
- you choose not to use a Secure Courier Service (including a non-insured courier service, a service that does not require signature on delivery, or to collect the Bullion directly from us) title and risk in the Bullion will pass to you upon the Bullion being collected from us.
Where you collect Bullion from us in person, we may require appropriate photo identification to release Bullion to you and we reserve our rights to withhold delivery at our discretion if we are not satisfied as to the identity of the person collecting Bullion from us.
9.2 – Title and risk in any Digital Currency will pass upon MyGold sending the relevant purchased Digital Currency to your Wallet.
9.3 – Where we are purchasing Bullion from you:
- you must send the relevant Bullion to us, insured up to its full replacement value, via courier requiring a signature on delivery; and
- title will pass upon payment in accordance with a Purchase Confirmation Form and risk will pass to us upon our signing for the relevant package.
10 – Use of our Website and Services
10.1 – You acknowledge that:
- the transmission of information over the internet (including to or from the Website) is not completely secure or error free. In particular, emails to or from us and information submitted to or accessed via this Website may not be secure and you should use discretion in deciding what information you send to us via these means; and
- emails to and from us may undergo email filtering and virus scanning, including by third party contractors. We do not warrant that such filters and scans will be effective in removing viruses or other potentially harmful code.
10.2 – The Website may contain links to other websites (“Third Party Websites”). We make no representation or warranty as to, and are not responsible or liable for, the Third Party Website, the accuracy, legality, decency or any other aspect of any content that is on that Third Party Website (“Third Party Content”) nor for any infringement of third party intellectual property rights as a result of hosting links to Third Party Websites and Third Party Content on the Website.
11 – Fair Trading Act and Consumer Guarantees Act
11.1 – Subject to clause 11.2, nothing in these Terms in any way limits your rights and remedies under the Fair Trading Act 1986 (“FTA”) or the Consumer Guarantees Act 1993 (“CGA”).
11.2 – Where you are “in trade” (within the meaning of the CGA):
- the parties acknowledge that the products or services are being supplied and acquired in trade;
- the parties agree to contract out of the provisions of the CGA and sections 9, 12A and 13 of the FTA;
- it is fair and reasonable that the parties are bound by this clause 11.2;
- the conditions, warranties and guarantees set out in the CGA shall not apply to, and are excluded from, your acquisition of Bullion, Digital Currency and services from us; and
- you may not claim any of the remedies set out in the CGA.
12 – Warranties
12.1 – You acknowledge that the actual Bullion that you may receive may differ from photos on our Website, including minting/mintage stamps, year of production, finished/finishing quality, manufacturing standards, size and dimensions etc. However, we warrant that the content of precious metals in the Bullion that you receive will be the same as the stated content of the relevant Bullion on the Website and as detailed in the Purchase Order. Nothing in this clause is intended to limit your rights under the CGA.
12.2 – You warrant that you are purchasing Digital Currency for your own behalf and not on behalf of anyone else and that you have provided us with the correct address for your Wallet.
12.3 – Where we purchase Bullion from you, you warrant to us that you are the person lawfully entitled to sell the Bullion in accordance with the Purchase Confirmation Form, that all information provided is complete, accurate and correct and is not misleading.
12.4 – In addition to any rights that you have under the CGA, we may (at our sole discretion) either:
- give you a credit up to the value of the original purchase price; or
- refund the original purchase price of,
any faulty or damaged Bullion that you have purchased, where:
- you return the Bullion to us within seven (7) days of delivery at your cost, together with a copy of the invoice and a claim specifically identifying the fault or damage(s); and
- we have a reasonable opportunity to investigate and verify the claim.
12.5 – Where we require items for inspection and testing prior to us making a purchase, we will take reasonable care during inspection and testing, but shall not be responsible for any damage to any item where such damage arises from the inspection and testing process or is necessary in order to be able to determine the purity of any products that you have submitted to us for purchase by us.
13 – Intellectual Property
13.1 – All Intellectual Property Rights in and to the Website, the Services, and the software and other material underlying and forming part of the Website and the Services (“Website Material”) is owned by us (and/or our suppliers and licensors), except where expressly stated in these Terms or elsewhere on the Website.
13.2 – When using this Website and/or the Services, we grant you a limited, non-exclusive, non-transferable, revocable licence to access and use those software, tools or applications only as required for your use of the Website and the Services and as expressly permitted in these Terms.
13.3 – You may download and print content from this Website for your own personal or internal business purposes only. You must not use, reproduce, store, publish, adapt, communicate to the public, distribute to third parties, amend, create derivative works from any part of the Website or the Services without our prior written consent or otherwise do anything that would infringe our Intellectual Property Rights in the Website or the Website Material.
13.4 – We reserve all right, title and interest not expressly granted under this licence to the fullest extent possible under applicable laws and you agree to do anything necessary, including executing any documents, to give full effect to this clause 13.
14 – Privacy
15 – Limitation of liability
15.1 – Our total liability arising out of or in connection with our breach of these Terms relating to:
- the supply and purchase of the Bullion, is limited in aggregate to the purchase price of the Bullion in respect of which such liability arises; and
- the supply of Digital Currency, is excluded in full. In particular, we have no liability for any failure for you to receive any Digital Currency where you have provided us with an incorrect or incomplete address for your Wallet.
15.2 – Notwithstanding clause 15.1, in no case will we be liable whatsoever for any indirect, special or consequential loss or damage arising out of or in connection with our breach of these Terms relating to the supply of Digital Currency.
16 – Force majeure
16.1 – Neither party will be in breach of these Terms because of any failure on the part of that party directly or indirectly due to wars, strikes, lockouts, delays or defaults of manufacturers or suppliers, acts of God or any other cause (whether similar or dissimilar) beyond that party’s reasonable control.
17 – Variation
17.1 – We may vary these Terms from time to time by notice in writing to you. Any variation will be effective as from the date specified in the notice provided to you (Variation Effective Date) and if you use the Website and/or receive Services after the Variation Effective Date you will be deemed to have accepted the variation.
17.2 – If you do not accept the variation to these Terms, you will not be penalised by us, however you may not make any further orders for Bullion or Digital Currency, or use the Website or the Services, following the Variation Effective Date.
18 – General
18.1 – These Terms are governed by the laws of New Zealand. Any and all disputes arising under this Agreement shall be settled exclusively before courts of competent jurisdiction in New Zealand.
18.2 – By receiving our Services, you accept that it is your responsibility to determine whether and to what extent, any taxes, fees, charges or levies apply to any transactions you conduct through our Services.
18.3 – If any provision of the Terms are held to be invalid, unenforceable or illegal for any reason, that provision must be read down to the extent necessary to preserve its operation. If it cannot be read down it must be severed, and the remaining parts of the Terms will remain in full force and effect.
18.4 – If we do not exercise or enforce any rights available to us under these Terms that does not constitute a waiver of those rights.
18.5 – You may not assign, transfer and/or subcontract any of your rights under these Terms.
18.6 – We may provide you with notices, including notices relating to these Terms by way of electronic communications, including by email or other electronic communication on the Website or through the Services.
18.7 – For any complaints about our Services, please contact us at email@example.com or 0800 465 369.
18.8 – For any other questions about the Website or the Services, please contact us at firstname.lastname@example.org or 0800 465 369.
18.9 – In these Terms, (a) words importing the singular include the plural and vice versa; (b) the words “including” means “including but not limited to”; and (c) words importing gender include all genders.
18.10 – These Terms (as amended in accordance with clause 17) contain the entire agreement between the parties with respect to its subject matter, and supersedes all prior understandings, communications and agreements either oral or written.