User Agreement

The following terms have the following meanings in the User Agreement:

1. Business Day. The term “Business Day(s)” means a day other than a Saturday, a Sunday or a day that is a holiday.
2. Digital Metal. The term “Digital Metal” means a digital representation of physical Precious Metal held for the benefit of the owner in a storage facility, the ownership interest of which is recorded on the books and the records of GoldBank. Notwithstanding any else contained herein, a customer of GoldBank® owns and has title to, an interest in actual and tangible physical metal that is held in the storage facility on behalf of the customer.
3. Fair Market Value. The term “Fair Market Value” means the fair market value of the Digital Metal as determined by the GoldBank®, at its reasonable discretion.
4. Market Gain. When a Purchase Order or Purchase, as the case may be, is cancelled by GoldBank®, Market Gain occurs when the Fair Market Value on the date of the cancelled Purchase Order or Purchase is greater than the original price as it appears on the cancelled Purchase Order. The difference between the Fair Market Value less the original price is the Market Gain.
5. Market Loss. When a Purchase Order or Purchase, as the case may be, is cancelled by GoldBank®, Market Loss occurs when the Fair Market Value on the date of the cancelled Purchase Order or Purchase is less than the original price as it appears on the cancelled Purchase Order. The difference between the original price less the Fair Market Value is the Market Loss.
6. The term “Gold Bank” means GoldBank®, Noor Al Madinah for Gold and Jewellery.
7. GoldBank® Account. The term “GoldBank Account” means an online account with GoldBank® maintained by a customer.
8. GoldBank® Mobile App. The term “GoldBank Mobile App” means the GoldBank® mobile application.
9. The term “Order” means, as applicable, a confirmed Sale by a customer or a confirmed Purchase by a customer, whether such Order was made through the Website, the GoldBank® Mobile App, by telephone or otherwise.
10. Precious Metal. The term “Precious Metal” means gold, silver and platinum.
11. The term “Purchase” means the acquisition of Digital Metal by a customer from GoldBank®, whether made through the Website, GoldBank® Mobile App, by telephone or otherwise, with the quantity and the price confirmed.
12. Purchase Order. The term “Purchase Order” means an Order placed by a customer with GoldBank® for the Purchase of Digital Metal.
13. The term “Sale” means the redemption by a customer from GoldBank® of Digital Metal, whether through the Website, the GoldBank® Mobile App, by telephone or otherwise.
14. Sale Order. The term “Sale Order” means an Order placed by a customer with GoldBank® for the redemption of Digital Metal from the customer, with the quantity and the price confirmed.
15. User Agreement. The term “User Agreement” means this User Agreement.
16. User Content. The term “User Content” means content posted by a customer or a user on the Website, including, without limitation, any images or testimonials.
17. The term “Website” means the websites located at www.GoldBank.app, www.GoldBankApp.com & Mobile Apps

A. Opening a GoldBank® Account.
You may choose to open a GoldBank® Account with GoldBank® that you can use to purchase, to sell, to store, to gift and to redeem Digital Metal and Wallet Cash in accordance with this User Agreement.
When you open an Account with GoldBank®, you can deposit money to enable you to purchase Digital Metal. You can deposit money to your GoldBank® Account at any time.
You may open your GoldBank® Account by following the instructions at the Website, in the GoldBank® Mobile App or by contacting GoldBank® to assist in creating an account at (+965) 41004653.
You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs) or any other codes that you use to access your GoldBank® Account. You are responsible for keeping your mailing address, email address and other contact information up to date in your GoldBank® Account profile.
You will need to provide certain information to GoldBank® upon opening your GoldBank® Account. If you provide erroneous or incomplete information, GoldBank® can decline to open a GoldBank® Account or may close your GoldBank® Account at any time.

B. Funding a GoldBank® Account
You may deposit funds to your GoldBank® Account in any one of the following ways:

• Knet
• Visa Credit Card;
• Visa Master Card;
• PayPal transfer;
• Personal Cheque;
• Wire Transfer; or
• Western Union (Money Transfer).
  Depending on the method you use to deposit funds to your GoldBank® Account, you may not have immediate access to those funds to engage in transactions. Please see Section 3 below for additional details on when your funds may become available for transactions.

C. Making Purchases from a GoldBank® Account

• There is no minimum or maximum transaction amount per transaction.
• On Purchase Orders greater than $500,000.00 (USD), we recommend that you contact us at (+965) 41004653 to determine if a deposit will apply. GoldBank® reserves the right to request a ten percent (10%) deposit on Purchase Orders deemed “significant” by GoldBank®, in its sole discretion, before GoldBank® will accept and confirm the Purchase Order and lock-in prices; GoldBank® may treat multiple Purchase Orders made on the same date as part of a single Purchase Order in determining significance.
• You may purchase Digital Metal using the funds you have in your GoldBank® Account or you may purchase the Digital Metal without pre-funding your account by choosing to pay by the methods listed above. Your Purchase Order will be in a pending status until the funds are deposited and available for the Purchase.
• When you purchase online from GoldBank®, the price at which your Purchase Order is submitted is the locked-in price; you may also be responsible for any convenience fee that applies to a particular payment method. You will receive an email confirming your Purchase Order and your confirmation number will be in your email. The Purchase Order price is locked-in for two (2) Business Days for wire transfer orders and five (5) Business Days for personal check orders. If you pay through your cash balance in your GoldBank® Account, credit card, PayPal, your payment will be credited immediately. If you pay through a bank ACH transfer, your payment will be marked as payment processing prior to settlement; no sale of the purchased Digital Metal may be made until settlement occurs. Funds made through bank ACH transfer typically take up to five (5) Business Days to settle. The locked-in period is the time you must make your payment to GoldBank® to receive the locked-in price.
• If you do not make a timely deposit for payment to GoldBank®, GoldBank®, may, in its sole discretion, (a) accept your deposit; (b) refuse your deposit and cancel your Purchase Order; (c) close your GoldBank® Account; and/or (d) preclude you from engaging in future transactions through GoldBank®.
• You have no right to cancel your Purchase Order once it is confirmed. An error in a Purchase must be offset with an equivalent Sale of Digital Metal.
• GoldBank® reserves the right to cancel a Purchase at any time for any reason. Should your Purchase Order be canceled by GoldBank®, GoldBank® will refund the full Purchase Order price minus any Market Loss and processing and convenience fees, if any, applicable to the payment deposit method used for the Purchase Order.

D. Withdrawing Funds from a GoldBank® Account

• You may request to withdraw funds/wallet cash from your GoldBank® Account at any time by logging into your account and accessing the “Withdraw” section of the Mobile Apps or Website or by contacting GoldBank® at (+965) 41004653.
• If you have at any time funded your GoldBank® Account through an ACH transfer, you have the option of having GoldBank® transmit the funds that you are withdrawing through an ACH transfer.
• GoldBank® may transmit funds to you through your Knet or credit card or PayPal account if the GoldBank® Account was originally funded via knet/credit card or PayPal within the last 60 days.
• GoldBank® may transmit funds to you through your originating bank account if the GoldBank® Account was originally funded via bank account last 60 days.
• GoldBank® reserves the right to transmit funds through an alternate payment method than you requested or than as provided herein.

E. Closing a GoldBank®Account

• You may not close your GoldBank® Account when there are any pending or scheduled Orders and you must cancel AutoInvest prior to closing your GoldBank® Account. When you close your GoldBank® Account, GoldBank® will cancel any AutoInvest Orders. You must withdraw any balance from your GoldBank® Account before closing it.
• You will remain liable for all obligations related to your GoldBank® Account even after your GoldBank® Account is closed.
• In certain cases, you may not close your GoldBank® Account, including:
  – if you are evading or attempting to evade an investigation;
  – if you have a pending or scheduled Order or an open dispute or claim;
  – if your GoldBank® Account is subject to a hold, limitation or reserve; or
  – if your GoldBank® Account has any outstanding storage or other fees.

F. GoldBank® Account Information

• You may view details of your GoldBank® Account by logging into your GoldBank® Account.
• You may request records related to your GoldBank® Account. GoldBank® may charge you a fee per item requested. However, GoldBank® will not charge you for records requested in connection with your good-faith assertion of an error in your GoldBank® Account.

G. Additional Details

• GoldBank® reserves the right to close your GoldBank® Account at any time at GoldBank®’s sole discretion.
• Balances in your GoldBank® Account will not earn interest.
• Balances in your GoldBank® Account will not be eligible for deposit insurance by the Insurance Corporation, or for any other similar insurance.
• GoldBank® will deposit any funds received from you in a bank account segregated from the operating accounts of GoldBank®; such segregated account may, however, contain funds from multiple clients. GoldBank® may earn interest on those funds but you will not receive such interest.

In addition to the other provisions of this User Agreement, Purchases are subject to the following:

• Cancellations of Orders with GoldBank®
• Once GoldBank® has issued a Purchase Order confirmation, (a) the price is locked-in and (b) there is a binding contract between GoldBank® and you for your Purchase and, as a result, any market risk for breach is transferred to you upon issuance of the Purchase Order confirmation.
• You have no right to cancel your Purchase Order.
• However, if you breach your payment or any other obligation, GoldBank® may cancel your Order(s). In addition, GoldBank® reserves the right to cancel any Order at any time and for any reason. Should your Purchase Order be canceled by GoldBank®, GoldBank® will refund the full Purchase Order price minus any Market Loss and any processing and convenience fees, if any, applicable to using the payment deposit method used for the Purchase Order.
• If a Purchase Order is canceled in violation of this User Agreement, whether due to insufficient funds, by recalling a payment or otherwise, you are responsible to GoldBank® for any Market Loss plus a $35.00 (USD) cancellation fee. The Purchase Order cancellation will be confirmed, and you will be given a cancellation number. At that time, if any Market Loss has occurred, it will be calculated and added to the $35.00 (USD) cancellation fee. You must remit immediately (upon notice) to GoldBank® good funds for any Market Loss and the cancellation fee. No future Orders by you may be permitted unless and until any Market Loss and the cancellation fee are paid in full. Upon written confirmation by GoldBank® of your payment of any Market Loss and the $35.00 (USD) cancellation fee, GoldBank® will not pursue any other damages associated with Order cancellation.
• Any Market Gain on Purchase Order cancellations belongs to, and shall remain the property of, GoldBank®.
• GoldBank® may take appropriate action to collect the Market Loss and/or the cancellation fee, such as deducting cash from your GoldBank® Account or liquidating Digital Metal in your GoldBank® Account.

B. Order Changes

• Because an Order may not be changed, GoldBank® suggests you take the time upfront to make sure what you want is exactly what you request from us as reflected in the Order.

C. Other Order Payment Information

• The general Order payment requirements, as well as the consequences of failing to make a payment, are set forth in Item 2(A).
• The decision on how to pay for your Order is your decision. However, it is always best to pay through your GoldBank® Account or to send GoldBank® your payment immediately to complete your transaction with GoldBank® and to avoid any possible default, so you can receive the locked-in price. When making payment by mail or wire, GoldBank® recommends making payment the same day your Order is placed and, when mailing payment, that you use a courier service that offers priority delivery and that provides you with a tracking number to ensure timely delivery and tracking capabilities.

A. Payment instructions will be issued online on the final page of the online Purchase Order process and again by email after you place your Purchase Order. If you do not pay in full through your GoldBank® Account, payment must be dated within twenty-four (24) hours of your Purchase Order date. If you default and you do not meet these requirements, GoldBank® reserves the right to cancel the Purchase Order.
B. GoldBank® does not accept C.O.D. for Purchase Orders.
C. Payment Options

• You may always pay through your GoldBank® Account.
• Depending upon the Purchase Order amount, you may also pay by some or all of the following payment methods: credit card, PayPal, Bitcoin or other crypto-currency, bank wire, personal check, or ACH.

D. Bank ACH Orders

• If creating a bank ACH fund Order, GoldBank® will advance you the funds in your GoldBank® Account and will credit payment immediately. However, funds made through bank ACH transfer may take up to five (5) business days to settle from your bank account to GoldBank®’s bank account and, while you may use the funds for a Purchase Order, you may not sell the purchased Digital Metal prior to settlement.
• If payment does not settle or is recalled or funds are insufficient, GoldBank® reserves the right to cancel Orders funded by bank ACH transfer and reverse the funds that GoldBank® has advanced to you.

E. Collection Period on Checks

• Cashier’s checks, certified checks and personal checks are deposited for collection and the typical period before we mark as settled/completed is from five (5) to ten (10) Business Days, regardless of when such checks may clear the banking system.
• GoldBank® must receive payment for check orders within five (5) Business Days.

F. Wiring Funds

• Once you have placed a Purchase Order and we have issued a confirmation number, we will provide you with wire instructions, including our bank name, IBAN routing number, and account number.
• GoldBank® must receive payment for wire orders within two (2) Business Days.

G. Good Funds Policy

• “Good funds” is the day we receive your direct bank wire and generally from five (5) to ten (10) Business Days from the day we receive your cashier’s check, certified check or personal check. There may be an additional delay for a check if your bank does not cooperate with us on the information needed to verify your transaction.

H. Credit Card

• GoldBank® may accept, is not obligated to accept, credit card payments for a Purchase Order. All credit card orders are reviewed on an order by order basis and we reserve the right to refuse any order deemed questionable or of significant risk to GoldBank® regardless of payment method and price confirmation and in such case, you waive any right to any claim or actual damages of any kind or nature whatsoever. GoldBank® has the right to refuse any credit card payment in its sole discretion.

I. Currencies

• We currently accept payments for Purchase Orders only in Kuwaiti Dinars as it’s our base currency, Thus we have live currency converters U.S. dollars (USD), Canadian Dollars (CAD), Euros (EUR), British Pounds (GBP), Pakistan (PKR), India (INR), Qatar (QAR), Philpine (PHP), UAE (AED), Saudia Arabia (SAR) & More.

A. Upon confirmation of your payment in accordance with this User Agreement, you will become the owner of the Digital Metal covered by your Purchase Order. Notwithstanding any else contained herein, you will own, and have title to, the actual and tangible physical metal that is held in the storage facility on your behalf.
B. Such ownership will be reflected in your GoldBank® Account. You may view your holdings online at any time.
C. At the end of every quarter, GoldBank® will email to your email on file a link a statement summarizing your Digital Metal holdings with GoldBank®.
D. All products are stored in physically secured GoldBank® facilities and fully insured for theft and physical loss
E. All customer ounces are verified/Audited daily by GoldBank®

A. At any time, you may redeem a portion or all of your Digital Metal and have physical metal delivered to you, subject to applicable minimum redemption amounts and processing fees. Any such redemption will be processed at the then applicable sales price for such Digital Metal on the website/Apps. Redeeming through GoldBank® is the only redemption option that is available for you to redeem your Digital Metal.
B. That redemption value may not be the best price that you could receive on the open market. That redemption value will be derived based on a proprietary algorithm of GoldBank® and is determined at GoldBank®’s sole discretion.
C. If you wish to redeem a portion or all of your Digital Metal in exchange for physical metal, you may log on to your GoldBank® Account or contact us at (+965) 41004653.
D. When you select the option to redeem your Digital Metal, GoldBank® will provide you with a QR code for the redemption.
E. Once you finalize your redemption, your redemption will be treated as a Sale Order and the relevant procedures described herein will apply.

A. You may set up recurring Purchase Orders with GoldBank® at a frequency of your choosing. You may opt into several options to schedule your recurring Purchase Orders: daily, weekly, bi-weekly, monthly, or quarterly. Your billing schedule will depend on the date you enroll in the AutoInvest Program and the frequency you select.

B. To have recurring Purchase Orders effected, you must keep your selected payment method in good standing. If a change or an update to your payment method is necessary, it is your responsibility to contact GoldBank® or log in to your GoldBank® Account to make the appropriate change. If your payment method is not kept current and in good standing, GoldBank® may terminate the recurring Purchase Orders and you will need to set up new recurring Purchase Orders with a payment method in good standing.

C. If you elect to set up recurring Purchase Orders, you are required to keep the payment method you choose adequately funded. If GoldBank® receives a chargeback related to any recurring Purchase Order, GoldBank® will cancel that Purchase Order and all future recurring Purchase D. Orders and you will be responsible for any Market Loss and be charged a fee of $35.00 (USD) for each Purchase Order. GoldBank® is not responsible for the loss of any potential gain associated with your canceled Purchase Orders.

D. You may cancel your recurring Purchase Orders at any time on the Website under the Settings section of your GoldBank® Account or through the GoldBank® Mobile App.

A. The physical metal to which you are entitled on redemption will be shipped by GoldBank® on behalf of GoldBank®, at its discretion, by a registered and/or insured carrier or store pick up. Packages sent by registered and/or insured can take an average of five (1) to three (3) Business Days to receive.
B. You may be charged shipping, handling, and insurance charges of $9.99 (USD) for shipments of physical metal with a redemption value of less than $100.00 (USD). You will not be charged shipping, handling, or insurance charges for shipments of physical metal with a redemption price of $100.00 (USD) or more.
C. All physical metal shipments to you will be insured for the redemption price of the shipped physical metal, subject to the limitations contained herein and in the applicable insurance policy. Should anything happen while your package is in transit to you, you may be permitted to claim coverage under the applicable insurance policy provided that you directly receive the package from the common carrier.

• When a shipment is made to you, if the physical metal is lost or damaged in transit, it is GoldBank® responsibility as its agent to pursue any claim with the insurance company. If GoldBank® as the agent of GoldBank® determines the package is lost or damaged, GoldBank® as the agent of GoldBank® files a claim. Once the claim is filed, GoldBank® as the agent of GoldBank® may re-ship your items or refund your money at its discretion, and GoldBank® shall have no further responsibility or liability to you.
• If there is any disruption in the delivery of a package to you, you agree to cooperate in any investigation or claim process and to take every reasonable action necessary or requested of you in the process. Failure to fully cooperate will jeopardize coverage that might otherwise be available for your loss.
• Neither GoldBank® (its agent) nor the insurance company accepts (and GoldBank® (and its agent) specifically disclaims) responsibility if you have left instructions with any carrier or delivery service to leave parcels for you without your signature. Nor do GoldBank® (and its agent), nor our insurance company, accept (and GoldBank® (and its agent) specifically disclaim) responsibility if you have given any carrier or delivery service instructions to leave your package with someone else, such as a building manager, neighbor or a drop-off location such as Mail Boxes Etc., or similar third party drop off locations. In any such case, your package will not be covered by insurance. If you do not receive the package directly from the common carrier, you must take all reasonable actions to assist in the recovery of the package, including, without limitation, filing out reports (and/or police reports) and providing all documents and information needed or requested to assist in the recovery of the package. If you do not fully cooperate in recovery efforts, neither GoldBank® (and its agent) nor the insurance company or carrier will have any liability to you. GoldBank® (or its agent) must be notified of a lost package within thirty (2) days from the shipment date of the package.

A. Duties and Taxes

• All duties and taxes must be paid by the customer on Sale Order(s) for Physical Metal You may be subject to taxes and/or duties for your redemption from GoldBank®. Please consult your local customs broker for more information on duty and tax rates.
• All shipping amounts listed below are approximations based on information as of the date that this User Agreement became effective. Please call us for the most current shipping charges.
• GoldBank® (and its agent) always declare the full value of the shipment on any customs form. There are no exceptions to this policy.

B. International Delivery Requirements

•  If your Physical Metal is returned due to your refusal to pay duties or taxes or if the carrier is unable to deliver your Physical Metal, you are responsible for any return shipping fees, additional duties or applicable taxes for returning the package back to GoldBank®. In addition, if your package is returned, your Physical Metal will not be reshipped unless and until receipt of payment in full for any return shipping costs, duties and taxes paid or advance for you as well as any subsequent re-shipment fees back to you.
• International returns on Physical Metal are very costly and we strongly suggest making yourself aware of any duties or taxes before packages are shipped to avoid surprises. In addition, we strongly suggest making yourself available to the delivery company, so your package is not returned, subjecting you to unnecessary taxes, duties, shipping costs or delays. Delays for Physical Metal re-shipment could take four (4) to six (6) weeks or longer to complete when packages are not received as they should be. If you have any questions about your international shipment, please send an inquiry to support@goldbankapp.com.
• Currently, all Physical Metal shipments must be shipped to a physical address and a delivery zone surcharge may apply. APMEX (as the agent for GoldBank®) does not typically send Physical Metal to international customers using freight forwarding services, such as Vpost addresses. If Sale Orders are placed online with Vpost or freight forwarding addresses, all risk of loss for such transactions is borne by you once delivers your product to the freight forwarding service or Vpost.

Canada

• Shipping charges for shipping Physical Metal to Canada are approximately $39.95 (USD).
• The minimum value of Physical Metal that (agent for GoldBank®) will ship to Canada is $250.00 (USD).

Europe

• (agent for GoldBank®) currently ships Physical Metal to Austria, Belgium, the Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, and the United Kingdom.
  – Shipping charges for sending Physical Metal to Europe are approximately $49.95 (USD) plus an additional estimated $0.25 (USD) per troy-ounce weight surcharge.
• The minimum value of Physical Metal that APMEX (as agent for GoldBank®) will ship to Europe is $250.00 (USD).

Asia

• (agent for GoldBank®) currently ships Physical Metal to Pakistan, India, Hong Kong, Japan, Macau, Malaysia, Singapore, South Korea, and Taiwan.
• Shipping charges for sending Physical Metal to Asia are approximately $49.95 (USD) plus an additional estimated $0.25 to $0.30 (USD) per troy-ounce weight surcharge, depending upon the country.
• The minimum value of Physical Metal that (agent for GoldBank®) will ship to Asia is $250.00 (USD).

Australia

• Shipping charges for sending Physical Metal to Australia are approximately $49.95 (USD) plus an additional estimated $0.25 (USD) per troy-ounce weight surcharge.
• The minimum value of Physical Metal that (as agent for GoldBank®) will ship to Australia is $250.00 (USD).

New Zealand

• Shipping charges for sending Physical Metal to New Zealand are approximately $59.95 (USD) plus an additional estimated $0.30 (USD) per troy-ounce weight surcharge.
• The minimum value of Physical Metal that (as agent for GoldBank®) will ship to New Zealand is $250.00 (USD).

GCC & Other Countries

• Shipping charges for sending Physical Metal to the Cayman Islands, Israel, Mexico, United Arab Emirates, Saudia Arabia, Oman, Qatar, Iraq, Egypt, Jordan, Syria, Bahrain, and Kuwait are $49.95 (USD) plus an additional estimated $0.25 (USD) per troy-ounce weight surcharge. Shipping charges for redemption Orders to South Africa are $59.95 (USD) plus an additional estimated $0.40 (USD) per troy ounce weight surcharge.
• The minimum value of Physical Metal that (as agent for GoldBank®) will ship to the countries listed above is $250.00 (USD).

A. We want our customers to be satisfied with their redeemed Physical Metal from GoldBank®. At your request, we may, but are not obligated to, provide you with an opportunity to exchange redeemed Physical Metal for an identical equivalent product in the event of a material defect. If we agree to do so, such exchange must be made within seven (1) days from the date on which the customer receives his or her Physical Metal and only to those customers that timely and properly notify GoldBank® by telephone at (+965) 41004653 and that receive written confirmation that the exchange request has been approved. If approved, GoldBank® will give you instructions on how to exchange your items.

B. Shipping and handling charges are non-refundable. For approved exchanges, you must follow all instructions provided by GoldBank®, including carefully packaging the Physical Metal. You are responsible for the cost of return shipping and the risk of loss during the return shipment as part of the exchange. GoldBank® reserves the right, at its sole discretion, to reject any exchange that does not comply with these requirements. If an exchange is requested, we reserve the right to accept or to refuse the exchange request in our sole discretion, and to require you to pay for any Market Loss on approved exchanges. Any Market Gain on refunds shall belongs to, and remains the property of, GoldBank®.

A. If you sell Digital Metal to GoldBank®, the sale is final and any errors made in the sale will need to be offset with a subsequent buy. Sales cannot be canceled once they are confirmed.
B. You also agree and understand that premiums for Digital Metal vary based on current market value, demand, and other related factors and the buyback price GoldBank® offers may not be directly correlated to the price you paid for the product at the time of purchase.
C. GoldBank® may adjust buy premiums at its discretion unless a sales confirmation has already been issued.

A. GoldBank® may charge a storage fee determined by GoldBank®, from time to time, for Digital Metals; to the extent that GoldBank® changes, from time to time, such storage fees, GoldBank® shall post a notice of such change on the Website at least 30 days before the effective date of such change. Any such charge is billed periodically as determined by GoldBank® (currently quarterly) and is calculated by multiplying the average daily balance of each Digital Metal product in your GoldBank® Account by the storage fee charged for each product. Storage fees may vary by product and/or location.
B. GoldBank® reserves the right to charge a minimum storage fee.
C. At the end of each period, GoldBank® will email a statement to your email address on file with a storage invoice. A storage invoice must be paid for in full on or before the due date.
D. If storage invoices are not paid by the due date, GoldBank® reserves the right to take appropriate action, such as deducting cash from your GoldBank® Account or liquidating Digital Metal in your GoldBank® Account.

A. From time to time, GoldBank® may offer promotions.
B. Promotions can vary and may include incentives, such as, without limitation, offering cash or a credit on opening a GoldBank® Account or cash or a credit on referring new customers to GoldBank®. The terms of any such promotion will be determined by GoldBank®, in its sole discretion.
C. Receipt of any incentive requires compliance with the terms of the promotion. A customer will not be entitled to receive an incentive if GoldBank® determines, in its discretion, that:

• the customer did not meet the terms of the promotion;
• the GoldBank® Account is suspicious or fraudulent;
• the GoldBank® Account is dormant or inactive; or
• the customer is abusing the promotion.

D. To the extent that a customer has received an incentive to which GoldBank® determines the customer is not entitled, GoldBank® may take any appropriate action, such as, without limitation, canceling the credit balance, deducting cash from the GoldBank® Account or liquidating Digital Metals in the GoldBank® Account to repay the cash or the credit.

A. All transactions in precious metals involve risk; Digital Metal is no exception. The value of Digital Metal is based on the value of the Physical Metal to which it relates and is affected by many economic factors, including, without limitation, the current market price of Physical Metal, the perceived scarcity of the Physical Metal, and other factors, such as the quality and current demand and general market sentiment.
B. Therefore, because Physical Metal can go down in price as well as up, Digital Metal may not be suitable for everyone. Because all investments, including Digital Metal, can decline in value, you should understand them well, and have adequate cash reserves and disposable income before considering a Digital Metal investment.
C. Like many markets, the precious metals market is speculative and largely unregulated.
D. The prices for precious metals will fluctuate throughout the day. If you are considering purchasing precious metals, you should assess the stability of the current market.
E. GoldBank® encourages you to discuss investments in precious metals and the associated benefits and risks with your financial advisor.

A. When you buy from GoldBank®, once we have issued a Purchase Order confirmation number, you have a binding contract, the transaction price is locked-in and any corresponding market risk is transferred to you. This is a benefit to you because you know your price at your Purchase Order confirmation time and we believe this is one of the key benefits of transacting with GoldBank®. If you default in your performance of payment, shipment or any other act required by you, we may cancel your Purchase Order(s). If your Purchase Order(s) is cancelled, you agree you have full responsibility and liability to GoldBank® for any Market Loss, plus a thirty-five dollar ($35.00 USD) cancellation fee. You must also pay, and have full responsibility and liability to, GoldBank® for all fees and costs associated with GoldBank®’s efforts in collecting from you. Any Market Gain on Purchase Order cancellations shall vest in and remain the property of GoldBank®, and GoldBank® shall have no responsibility to you for Market Gain. We reserve the right to cancel any Purchase Order at any time and for any reason. All future requests to withdraw funds or redeem for physical metals will be held until any/all outstanding Market Loss and/or cancellation fee balances have been paid in full.

A. Gold Bank App does not guarantee that the Website or any services or products available through it will remain uninterrupted or error-free. There may be delays, omissions, interruptions, and/or inaccuracies in the materials or services available through the website.

B. We will take all reasonable precautions to keep your order details and payment safe, but unless we are negligent, we cannot be liable for any losses as a result of unauthorized access to the information you have provided. If you use the www.goldbankapp.com or www.goldbank.app website and mobile application, you are responsible for maintaining the confidentiality of your account and password and for restricting access to your computer/mobile/tabs, and you agree to accept responsibility for all activities that occur under your account or password.

C. GoldBank® Company reserves the right to refuse service, terminate accounts, remove or reformulate content, or cancel requests at its absolute discretion.

A. Absence of Relationship. The sole relationship between GoldBank® and you is that of buyer-seller. No other relationship, including, without limitation, any agent-principal relationship, any employee-employer relationship, any franchisee-franchisor relationship, any joint venture relationship or any partnership relationship, between GoldBank® and you exists.

B. You may not assign any of your rights or obligations under this User Agreement without the prior written consent of GoldBank®, which may be granted or withheld by GoldBank® in its sole discretion. This User Agreement shall be binding on all permitted assigns and successors of GoldBank® and you.

C. You are responsible for the confidentiality of information about your transaction. You shall be very careful about disclosing information about your transactions with GoldBank® and should carefully consider any disclosure of such information that you make to third parties.

D. Governing Law. This User Agreement is governed by and shall be interpreted in accordance with the laws of the State of Kuwait, without giving effect to conflict of law principles.

E. Dispute Resolution
– It is GoldBank®’s goal that any disagreement or dispute be resolved amicably and expeditiously. We encourage you to contact GoldBank® at (+965) 41004653 or a business-consumer intermediary (such as a local better business bureau).
– If an amicable resolution cannot be reached, such disagreement or dispute shall be resolved in accordance with the following paragraphs.
– The State of Kuwait courts located in Kuwait County, shall have exclusive jurisdiction of all actions arising out of, or relating to, the transactions between GoldBank® and you, including, without limitation, under the User Agreement. You hereby consent to personal jurisdiction and venue in those federal and state courts for the purpose of resolving any such disagreement or dispute and waive all objections to the personal jurisdiction of, or venue in, such federal and state courts.
– GoldBank® AND YOU WAIVE ANY RIGHT TO TRIAL BY JURY IN CONNECTION WITH ANY SUCH DISAGREEMENT OR DISPUTE.

F. Force Majeure. If GoldBank® cannot perform any obligation hereunder as a result of any event that is beyond its control, GoldBank®’s delay or failure to perform such obligation shall be excused and GoldBank® shall not be liable for any damages as a result of, or in connection with, any such delay or failure.

G. Further Assurances. You shall execute and deliver such other documents and take such other actions as may be reasonably requested by GoldBank® to carry out your obligations under the User Agreement.

H. Except as otherwise provided herein, all notices and other communications to GoldBank® shall be directed to GoldBank®, Accounts Team, and all other notices and other communications to you shall be directed to your last address as reflected by the records of GoldBank®.

I. Recording of Phone Conversations. GoldBank® and its agents may record phone conversations between GoldBank® and you. You expressly consent to the recording of such phone conversations.

J. Absence of Waivers. A delay or failure by GoldBank® to take action with respect to any non-compliance by you with your obligations to GoldBank® or to insist upon strict adherence the User Agreement does not affect the ability of GoldBank® with respect to any other non-compliance by you and does not waive or limit GoldBank®’s right thereafter to insist upon strict adherence to that or any other term, whether of a similar or dissimilar nature.

K. Pricing or Typographical Errors. GoldBank® strives to provide accurate product and pricing information to you. However, pricing or typographical errors may occur. In the event that an item is listed at an incorrect list price or with incorrect information, GoldBank® may, at its sole discretion, refuse or cancel any Order placed by, or sent to, you for that item. GoldBank® may either contact you for instructions or cancel your Order and notify you of such cancellation. Prices and availability are subject to change without notice. If a refund is provided or there is any delay in sending you your payment, as the case may be, you waive any right to any claim or actual damages of any kind or nature whatsoever.

L. GoldBank® takes security very seriously. Our security measures are intended to minimize the loss, misuse and alteration of all information under GoldBank®’s control, but cannot, of course, assure such result. GoldBank®’s system is based on the SSL (Secure Socket Layer) encryption standard. If you are using an SSL-compliant browser such as Microsoft Internet Explorer, Google Chrome, Mozilla Firefox or Apple Safari, you will generally be able to conduct fully- protected transactions that encrypt all of your personal information, including credit card number, name and address, so it cannot be read as the information travels from you to GoldBank®. Furthermore, all of the customer data GoldBank® is subject to privacy protections. See our Privacy Policy for additional information

M. The User Agreement is intended to be enforceable to the fullest extent permitted by applicable law. If any term of the User Agreement is held to be unenforceable for any reason, such unenforceability shall not affect the other terms of the User Agreement, and the term that would otherwise be unenforceable shall be enforced to the fullest extent that it would be enforceable

N. GoldBank® may amend the User Agreement at any time and from time to time by posting the amended terms on the Website and such amendments shall become effective immediately.

O. Entire Agreement. The User Agreement, the Privacy Policy and confirmations of Purchases or Sales thereunder set forth the entire understanding between GoldBank® and you with respect to the subject matter of our transactions.

P. User Content and Conduct

• You may be invited to post User Content. You understand that all User Content, whether publicly posted on a forum or privately transmitted to GoldBank® or another person, is your sole responsibility. Though the Website is designed to be a safe place to share User Content, GoldBank® cannot guarantee that a user will not misuse the User Content. If you have any User Content that you want to keep confidential or you do not want others to use, do not post it to the Website. Under no circumstances will GoldBank® be liable in any way for any User Content or the use or misuse thereof, including, without limitation, any errors or omissions in any User Content, or for any loss or damage of any kind incurred as a result of the use of any User Content posted, emailed or otherwise transmitted via the Website.
• By posting any User Content at the Website, you hereby grant GoldBank® and its designees a royalty-free, fully paid-up, perpetual, irrevocable, non-exclusive, and fully sublicensable right, and license to use, reproduce, modify, adapt, publish, translate, combine with other works, create derivative works from, distribute, perform, edit and display such User Content (in whole or part), throughout the world in any form, media, or technology now known or later developed. You specifically waive any “moral rights” in and to the User Content. Such license includes, without limitation, any copyrights and other intellectual property rights in and to your User Content. You represent and warrant that: (a) you own the User Content posted by you or otherwise have the right to grant the license granted hereby; and (b) the posting of your User Content at the Website does not violate the privacy rights, publicity rights, copyrights, contract rights or any other rights of any person. You agree to pay for all royalties, fees, and any other monies owed to any person by reason of any User Content you post on the Website. You acknowledge and agree that GoldBank® may preserve User Content and may also disclose User Content if required to do so by law or in the good faith belief that such preservation or disclosure is reasonably necessary to: (a) comply with legal process; (b) enforce this User Agreement; (c) respond to claim(s) or assertion(s) that any User Content violates the rights of third-parties; or (d) protect the rights, property, or personal safety of GoldBank®, its users and the public. You understand that the technical processing and transmission of the Website, including, without limitation, your User Content, may involve transmissions over various networks and changes to conform and adapt to the technical requirements of connecting networks or devices.

You agree that you will not:

• upload, post, email or otherwise transmit any User Content that is unlawful, harmful, threatening, abusive, harassing, defamatory, vulgar, obscene, libelous, invasive of another’s privacy, hateful, or racially, ethnically or otherwise objectionable;
• harm minors in any way;
• impersonate any person or entity, including, but not limited to a representative of GoldBank®, or falsely state or otherwise misrepresent your affiliation with a person or entity;
• forge headers or otherwise manipulate identifiers in order to disguise the origin of any User Content;
• upload, post, email or otherwise transmit any User Content that you do not have a right to transmit under any law or under contractual, fiduciary or other relationships (such as inside information, proprietary and confidential information learned or disclosed as part of employment relationships or under nondisclosure agreements);
• upload, post, email or otherwise transmit any User Content that infringes any patent, trademark, trade secret, copyright or other proprietary rights of any person;
• upload, post, email or otherwise transmit any unsolicited or unauthorized advertising, promotional materials, “junk mail,” “spam,” “chain letters,” “pyramid schemes,” or any other form of solicitation, except in any areas that are designated for such purpose;
• upload, post, email or otherwise transmit any material that contains software viruses or any other computer code, files or programs designed to interrupt, emulate, destroy or limit the functionality of any computer software or hardware or telecommunications equipment;
• disrupt the normal flow of dialogue, cause a screen to “scroll” faster than other users of the Website are able to type, or otherwise act in a manner that negatively affects other users’ ability to engage in real-time exchanges;
• interfere with or disrupt the Website, GoldBank® Mobile App or servers or networks connected to the Website or GoldBank® Mobile App, or disobey any requirements, procedures, policies or regulations of networks connected to the Website or the GoldBank® Mobile App;
  “stalk” or otherwise harass another; or
• collect or store personal data about other users.
• You understand that by using the Website and GoldBank® Mobile App, you may be exposed to User Content that is offensive, indecent or objectionable. GoldBank® does not endorse or have control over User Content. User Content is not reviewed by GoldBank® prior to posting and does not reflect the opinions or policies of GoldBank®. GoldBank® makes no representations or warranties, express or implied, as to User Content or the accuracy and reliability of User Content or any other material or information that you may access through the Website or the GoldBank® Mobile App. GoldBank® assumes no responsibility for monitoring the Website or the GoldBank® Mobile App for inappropriate submissions or conduct. If at any time GoldBank® chooses, in its sole discretion, to monitor the Website or the GoldBank® Mobile App, GoldBank® nonetheless assumes no responsibility for User Content, has no obligation to modify or remove any inappropriate User Content, and has no responsibility for the conduct of users submitting any such User Content. Notwithstanding the foregoing, GoldBank® may remove any User Content that violates this User Agreement or is otherwise objectionable, in GoldBank®’s sole discretion. You agree that you must evaluate, and bear all risks associated with, the use of any User Content, including, without limitation, any reliance on the accuracy, completeness, or usefulness of such User Content. In this regard, you acknowledge that you may not rely on any User Content.
• You are solely responsible for your interactions with other users. GoldBank® reserves the right, but has no obligation, to monitor disputes between you and other users and to terminate your Website or GoldBank® Mobile App access if GoldBank® determines, in its sole discretion, that doing so is prudent.

Q. Other Terms of Use; Intellectual Property

• GoldBank® may revise and update these Terms of Use at any time and without notice. You should review the Terms of Use posted on the Website and GoldBank® Mobile App periodically. Your continued access or use of the Website or the GoldBank® Mobile App after any such change is posted will constitute your acceptance of such change.
• The Website, the GoldBank® Mobile App and their contents, including, without limitation, photography and other GoldBank® assets (the “Content”, are intended for customers of GoldBank®. You may not use the Website, the GoldBank® Mobile App or the Content for any purpose not related to your business with GoldBank®. Without limiting the generality of the forgoing, you are specifically prohibited from: (a) downloading, copying, or re-transmitting any part or all of the Website, the GoldBank® Mobile App or the Content without, or in violation of, a written license or agreement with GoldBank®; (b) using any data mining, robots or similar data gathering or extraction methods; (c) manipulating or otherwise displaying the Website, the GoldBank® Mobile App or the Content by using framing or similar navigational technology; (d) registering, subscribing, unsubscribing, or attempting to register, subscribe, or unsubscribe any party for any GoldBank® product or service if you are not expressly authorized by such party to do so; and (e) using the Website, the GoldBank® Mobile App or the Content other than for its intended purpose, as determined solely in GoldBank®’s discretion, including without limitation, to defame, abuse, harass, stalk, threaten or otherwise violate the legal rights (such as rights of privacy) of others, and/or to publish, post, distribute or disseminate any defamatory, infringing, obscene, pornographic, sexual, indecent or unlawful material or information.
• You may not interfere with the security of, or otherwise abuse, the Website, the GoldBank® Mobile App or any system resources, services or networks connected to, or accessible through, the Website or the GoldBank® Mobile App.
• You may only use the Website and the GoldBank® Mobile App for lawful purposes.
• All materials, including, without limitation, the organization and presentation of such materials on the Website and the GoldBank® Mobile App, and including, without limitation, wholly owned brand assets such as photography (“Materials”), are the property of GoldBank® and its licensors and may be protected by intellectual property laws, including, without limitation, laws relating to copyrights, trademarks, trade names, internet domain names and other similar rights. Unless you have entered into a separate agreement with GoldBank®, any other use of these Materials without GoldBank®’s written permission is prohibited.
• GoldBank® and any other product or service name or slogan contained on the Website and/or the GoldBank® Mobile App are the property of GoldBank® and its licensors and may not be copied, imitated or used, in whole or in part, without the prior written permission GoldBank® or the applicable trademark holder. You may not use any “hidden text” utilizing “GoldBank®” or any other name, trademark or product or service name of GoldBank® without prior written permission. In addition, the look and feel of the Website and the GoldBank® Mobile App, including, without limitation, all page headers, custom graphics, button icons and scripts, are the service mark, trademark and/or trade dress of GoldBank® and may not be copied, imitated or used, in whole or in part, without our prior written permission. All other trademarks, registered trademarks, product names and company names or logos mentioned on the Website or the GoldBank® Mobile App are the property of their respective owners. Reference to any products, services, processes or other information, by trade name, trademark, manufacturer, supplier or otherwise does not constitute or imply endorsement, sponsorship or recommendation thereof.

• We have the right to conduct further checks to verify your age with the registered credit reference agency (or similar), and if we are unable to verify that you are over 18 years of age, we will cancel your request.

• When a person on the list of suspected money laundering purchases the purchase, the process will be canceled.

   

• If you have any concerns about your account, or if you become aware of any misuse of your account, you must inform us immediately.

• Exchange rate of currencies against the Kuwaiti dinar. The price offered is the price of gold.

• All base prices mentioned are in Kuwaiti Dinars (KD).