General Terms and Conditions

1. Legal mentions

The website is accessible via the address www.goldforex.be (hereinafter the “Site”) is edited by the company Gold and Forex International S.A., whose registered office is located at 101 Rue du Midi, 1000 Brussels.It is present in the commercial register of the Brussels trade and companies with the VAT number BE 872.944.570

2. Définitions

- GFI: Gold and Forex International S.A/N.V.

- Le Client : toute personne physique ou morale réalisant une opération d’achat ou de vente avec GFI.

- CGV : Les présentes « Conditions Générales de Vente »

- The website: www.goldforex.be

- Order: An order is an instruction communicated to GFI. This refers to the purchase or sale of a certain quantity of precious metals or currencies at a fixed rate.

- Good Delivery Bar : Ingot « in good delivery » LBMA – see http://www.lbma.org.uk/the-good-delivery-list

3. Scope of the GSC

Les présentes CGV régissent toutes les transactions d'achat et de vente ainsi que l'utilisation des services accessibles depuis le Site Internet, effectuées par une personne physique ou morale.

Gold & Forex International se réserve le droit de modifier ou rectifier des clauses contractuelles. Dans ce cas, la publication sur le site Internet a valeur de notification de ces modifications.

Toute utilisation des services accessibles depuis le Site implique l'acceptation sans réserve ni restriction des présentes CGV..

L'achat et la vente par une personne physique est exclusivement autorisé à un client majeur.

4. Services accessible by phone

GFI allows clients to purchase or to sell gold or banknotes as well as other precious metals, these must comply with the terms set forth herein.

GFI reserves the right to decline access to its services to any client whose previous orders or sales have been subject of a payment or delivery incident or suspicion of frauds.

5. General information about sale and purchase

Any financial investment can be subject to market fluctuation. The client who sells or buys currencies, gold or precious metals should therefore be aware that no profit is guaranteed.

Buying and selling transactions may be subject to taxation depending on the country of residence. It is the responsibility of the client to comply with the tax laws of the client’s country of residence.

Under no circumstances can GFI be held responsible for the absence of a declaration by the customer.

In case of doubt, the client should seek advice regarding the laws or procedures that should be followed. Any buying or selling decisions by the client is made under its sole responsibility.

6. Rates taken into account when carrying out transactions by telephone

The price of gold, currencies and other metals are based on their rates on the markets at the time of order; As a result, the order must imperatively and exclusively be carried out by phone with an employee of GFI, it is the collaborator who will set the final rate to be used for the transaction. The prices on the website are for coins in good condition and for ingots of 24 carat international “good delivery” bar certified LBMA. All prices are shown in EUR and the rates given on the site are for information only.

7. Terms for the purchase/sale by a client

The client must provide his/her surname, first name and email address as well as his/her mobile or landline phone number. Should any of these information be missing, the order will not be processed.

As soon as the client agrees with the order over the phone; the product, the quantity and the rate, the transaction is considered firm and final. The client must then accept and confirm the order as soon as possible, no later than the same day.

The client will receive an email with a link inviting him/her to confirm the order via “my account” area. The client must fill additional information if requested and confirm the order with the instruction provided. The client must tick that he/she agrees the GCS and the no right of withdrawal (see article 8).

By accepting these general terms of sales, the client acknowledges having read articles 60 to 65 of the anti-money laundering law of the 18th September 2017 (see point 14 on the GDPR).

GFI reserves to right to rectify any discrepancies in the confirmation of the client’s order.

In the case of purchase (sale by GFI), the client proceeds to the bank transfer which will be provided via email. The payment is made, except explicit exemption given by GFI, exclusively by bank transfer, certified bank cheque or cash and this, within 48 hours of placing the order. Note that only the first 3.000 EUR can be paid in cash (see the law of 18th September 2017). GFI will keep you updated when the funds are received, the client is then invited to contact GFI in order to fix a date for delivery.

In the case of a sale (purchase by GFI), we ask for a delivery within 2 business days. The result of the sale will, at the client’s choice, be paid into an account or paid by bank cheque. GFI reserves the right to limit the amount paid in cash based on the client’s history. Only the first 500 EUR can be paid in cash (see law of 18 September 2017). For both buying and selling, GFI reserves the right to ask the customer for a deposit equivalent to 10% of the amount of the transaction before placing the order.

For both purchase or sale, GFI immediately place your order (buy or sell) by hedging it on the market, which means that once it is fixed over the phone, you are bound by the order.

In the event of the non-compliance with the terms and conditions provided in the GCS, GFI reserves the right to recover any difference to its detriment by any means of law. Le Client doit communiquer son nom, prénom, adresse email ainsi que son numéro de téléphone fixe ou mobile, à défaut sa demande ne pourra pas être traitée.

8. No right of withdrawal

In accordance with ART VI, 55 to 57 of the CDE (Code of Economic Law) the right of withdrawal can not be exercised. As gold, metal and currency prices are subject to fluctuations in the financial market, the Customer can not exercise the right of withdrawal after having placed the order by telephone and / or confirmed electronically.

9. Delivery of the order

The client takes delivery of the order on GFI’s premises. There are no other means of delivery.

The precious metals ordered will only be available once the funds have been received on the agreed bank account or paid with a certified bank cheque given at the time of pickup. The client is invited to contact GFI before the pickup to make sure the order is ready. In some cases, the delivery may be delayed for various reasons.

10. Signature of the invoice

The client needs to sign the invoice (if with a name) at the time of receiving the products and / or when delivering product sold.

The client, upon receipt of the order, must verify that it corresponds to the quality, weight and quantity mentioned on the invoice.

In case of inconsistency, the client must make a remark at the time of delivery.

11. Sales by the client

GFI primarily purchases gold coins and bullion but can also trade other precious metals, such as silver, platinium or rhodium. GFI does not buy gold jewelry.

12. Delivery of product sold by the client

GFI purchases gold bullion and gold coins only if they are presented in the office and in accordance with the terms and conditions set forth in article 13.

13. Value of the goods

The value of the product depends on its quality, sometimes its rarity, it's fine weight and the price of gold.

The rate is determined when the order is placed by telephone or at the time of delivery in GFI’s premises if the rate was not fixed previously or if an expertise is necessary. A valuation will be carried out by our experts who will determine whether the quality fits the market quality for coins and good delivery for ingots.

If the bullion or coins do not meet these criteria, the prices will be adapted accordingly. If necessary, GFI will have to carry out analysis that the client will bear the cost.

14. Personal Data

We refer to Articles 60 to 65 of the Anti-Money Laundering Act of 18 September 2017

http://www.ctif-cfi.be/website/images/FR/law_be/loifr-nl-en.pdf and more particularly Articles 64 and 65

Art. 64 &2 Obliged entities only process personal data in accordance with this Law for ML/TF prevention purposes and do not subsequently process this data in a way that is incompatible with these purposes.

Art. 65 The person whose personal data are processed in accordance with this Law does not have the right to access and correct his or her data, nor the right to be forgotten, nor the right to portability of these data, nor the right to object, nor to the right not to be profiled, nor to the notification of security failures.

The right of the individual involved to access personal data relating to him is exercised indirectly, pursuant to Article 13 of the aforementioned Law of 8 December 1992, through the Commission for the Protection of Privacy established by Article 23 of the same Law.

If the customer wants to delete his account online on the website and all information about it on this application, he must send a request by email to GFI who will erase these data. Please note, however, that this deletion will only apply to the online application and not the transaction history, personal data and probative documents that GFI has in-house under the AML Act.

14 bis : General Data Protection Regulation (GDPR)

We refer to Articles 60 to 65 of the Anti-Money Laundering Act of 18 September 2017

http://www.ctif-cfi.be/website/images/FR/law_be/loifr-nl-en.pdf and more particularly Articles 64 and 65

15. Liability

GFI does not advise the client on the opportunity to buy or sell gold, currencies or precious metals.

GFI cannot guarantee that the client will make a profit with the investment made.

In no event shall GFI be liable in the event of any failure of the telecommunication, server hosting the site or other sites, or the non receipt of e-mails, faxes or letters sent by the client.

The data accessible from the site are published for information only.

As such, GFI cannot be held responsible for any difference between the prices provided on the site and the actual rate given during the order/transaction. Nor can it be held liable in the event of a strike, malfunctioning of the gold market, interruption of the gold quotation, or for any act of god (force majeure), as defined by the Belgian Jurisprudence.

16. Temporary interrruption

GFI reserves the right to temporarily close access to its site, to ensure the maintenance of hardware and / or software and infrastructure implemented from its access, or in case of a peak in the traffic. The responsibility of GFI cannot be engaged in such events.

17. Money laundering

It is prohibited for the client to carry out transactions which could be seen as money laundering or financing of terrorism.

The client acknowledges by signing the invoice that the origin and destination of the metals, currencies and funds exchanged are in no way of unlawful.

18. Contact

The client is invited to contact GFI via email : [email protected] or trough the phone : + 32 2 513.92.40. We will make our best to answer to you as soon as possible.

19. Governing laws and Jurisdictions

The above conditions fall under the governing laws of Belgium. In case of litigation the Tribunal de commerce francophone de Bruxelles is competent.

GENERAL TERMS AND CONDITIONS OF DEPOSIT

20.-

Unless otherwise expressly agreed in writing and duly signed, the deposit can only be for precious metals purchased through GOLD & FOREX INTERNATIONAL (CBE 0872.944.570).

In any case, all flammable and explosive objects/goods and, in general, any object likely to damage its surroundings, as well as any object/good removed from trade by legal provisions, are excluded from deposit.

In the event that such objects/goods are deposited, the depositor is solely responsible for them and is liable for all damage of any kind that may result from such deposit.

21.-

The deposit includes the storage and custody of the objects/goods entrusted to GOLD & FOREX INTERNATIONAL or any service provider GOLD & FOREX INTERNATIONAL might call upon.

In return for payment of the agreed or customary fees, GOLD & FOREX INTERNATIONAL assumes responsibility for the work necessary for the acceptance, handover and handling of the entrusted objects/goods.

Without prejudice to Article 9, the transport and insurance of deposited objects are not included in this payment.

22.-

At the time of the application for deposit, an inventory is drawn up by GOLD & FOREX INTERNATIONAL listing the objects/goods deposited. This inventory is available on the online account or is drawn up in duplicate when contracted at the counter located at Rue du Midi 101, 1000 Brussels.

This inventory certifies the deposit and is authentic as to the nature and number of objects/goods deposited. It is only binding on the parties once it has been accepted, when contracted online, or signed by both parties, when contracted at the counter.

This inventory may not be pledged as collateral or backed as any guarantee to a third party by the depositor.

The inventory is limited to the number and the external appearance of the objects/goods deposited. GOLD & FOREX INTERNATIONAL is not responsible for the contents or container of the entrusted objects/goods, unless it has had the objects/goods deposited packed, unpacked and sealed by its staff.

23.-

GOLD & FOREX INTERNATIONAL takes the same care in the custody of the deposited objects/goods as it does in the custody of its own goods. Custody of objects/goods takes place in appropriate premises but does not extend to special measures or their maintenance unless specific written arrangements have been made in this respect.

24.-

GOLD & FOREX INTERNATIONAL may not use the deposited item without the express or presumed permission of the depositor.

For all fungible goods, the consent of the depositor is presumed.

25.-

GOLD & FOREX INTERNATIONAL is in no way liable for any consequences resulting from an event caused by force majeure.

This is, in particular, the case when the impossibility of restitution results from a malfunction or breakdown of the storage facilities, a failure of the website, a strike or a lock-out.

26.-

GOLD & FOREX INTERNATIONAL is not liable for any damage, loss or deterioration in the following cases:

(a) deposit of unprotected fragile objects/goods;

(b) misrepresentation by the depositor, which shall be proved by GOLD & FOREX INTERNATIONAL by all legal means;

(d) damage caused by the passage of time;

(e) damage caused by temperature variations;

(f) intervention by a third party or by officials of an authority acting under a law or regulation (search warrant, seizure warrant, control by the administration, etc.);

GOLD & FOREX INTERNATIONAL is only liable for damage, loss or deterioration caused by its own actions.

27.-

Unless otherwise expressly agreed, in the event of damage, loss, deterioration or any other damage attributable to GOLD & FOREX INTERNATIONAL, the investment gold coins are insured at redemption value with a premium of up to ten (10) percent at the date of the damage.

Unless otherwise expressly agreed, in the event of deterioration, loss, damage or any other damage attributable to GOLD & FOREX INTERNATIONAL, the gold bars are insured at the redemption value on the date of the damage.

For all other goods, the deterioration, loss, damage or any other damage attributable to GOLD & FOREX INTERNATIONAL shall only be binding on our company up to the CMR value of the stored objects/goods, which is calculated in accordance with article 23 in extenso of the law of 19 May 1956 on the contract for the international carriage of goods by road (M.B., 08.11.1962)

28.-

GOLD & FOREX INTERNATIONAL's liability starts at the time of deposit and ends at the time of return.

29.-

GOLD & FOREX INTERNATIONAL shall return the same object/good as received.

However, in the case of deposits of fungible precious metals, GOLD & FOREX INTERNATIONAL at any time has the right to return an identical item of the same kind, unless otherwise expressly agreed, without the depositor being able to claim any grievance.

30.-

Without prejudice to Article 9 of these general terms and conditions and unless he has paid in full the costs due in accordance with the agreed terms and conditions, the depositary shall never be entitled to claim the fruits of the entrusted objects/goods unless he has given GOLD & FOREX INTERNATIONAL a prior written notice of default by registered mail, leaving a period of twenty (20) working days to comply.

31.-

Unless otherwise expressly agreed, GOLD & FOREX INTERNATIONAL shall only return the deposited objects/goods to the person who entrusted them to GOLD & FOREX INTERNATIONAL upon payment of the full amount due.

In the event of death of the depositor, the rightful claimants are only entitled to the return of the deposited object/item (1) upon payment of the fees due, (2) production of a death certificate and (3) production of a notarial deed designating the rightful claimants to receive the object.

If there is more than one rightful claimant, the deposited object/good must be returned to each of them only for their individual share and portion. If the deposited item is indivisible, the heirs must unanimously agree on the person validly designated to receive it.

32.-

In any case, GOLD & FOREX INTERNATIONAL is entitled to exercise a right of retention on the deposited object/good if any obligation resulting from the law, these general terms and conditions or special conditions should not be fulfilled by the depositor.

33.-

Upon payment of all fees due and unless otherwise expressly agreed, the deposit shall be returned to the depositor as soon as possible upon instruction, unless GOLD & FOREX INTERNATIONAL is aware of any garnishment procedure, opposition to the return of the deposit or any other protective measure.

The depositor is, in all circumstances, responsible for all disbursements of whatever nature when they are caused by a total or partial early withdrawal of the deposited object/good.

34.-

Any complaint with regard to the objects/goods received shall be made immediately in writing on a special form provided for this purpose at the time of receipt. Failing to do so, the depositor is irrevocably presumed to have accepted the object/good and therefore waives any form of compensation, without prejudice to the application of Article 9 of this agreement.

35.-

Without prejudice to Article 28, GOLD & FOREX INTERNATIONAL shall not be obliged to insure the deposited objects/goods unless it has received, in writing, prior to the acceptance of these general terms and conditions, a mandate from the depositor indicating the risk to be covered and the value to be insured.

Where such cover is requested, GOLD & FOREX INTERNATIONAL will provide the depositor with a copy of the terms and conditions of such insurance and, in the event of a claim, GOLD & FOREX INTERNATIONAL will be the sole interlocutor of the insurer.

No recourse whatsoever can be made against GOLD & FOREX INTERNATIONAL.

Likewise, if the depositor takes out the said insurance without the assistance of GOLD & FOREX INTERNATIONAL, the depositor is obliged to provide an explicit waiver of recourse, of whatever nature, against GOLD & FOREX INTERNATIONAL.

36.-

The fees generated by the deposit are payable quarterly. In the event of non-payment on the due date, the sums due shall be increased by operation of law and without prior notice of default by a fixed indemnity (penalty clause) of fifteen percent (15%) of the sum due and by contractual interest fixed at twelve percent (12%) per year on the sum due.

The amount of the monthly fee is linked to the consumer price index of the previous month of the entry into force of the contract and is adapted annually by right.

37.-

The depositor is obliged to reimburse GOLD & FOREX INTERNATIONAL for all expenses incurred for the deposit of the entrusted object/good and to compensate GOLD & FOREX INTERNATIONAL for all losses that the deposit may have caused.

38.-

In the event that ownership of the deposited object/good is transferred to a third party, a new inventory must be drawn up in favour of the latter. This transfer is only valid for GOLD & FOREX INTERNATIONAL when this inventory is signed by all parties (the seller, the buyer and GOLD & FOREX INTERNATIONAL).

Before drawing up and signing the contract, GOLD & FOREX INTERNATIONAL is entitled to demand full payment of the claims arising from the deposit of the entrusted object/good.

39.-

Unless expressly agreed otherwise, the depositor may only have access to the entrusted object/good if he has previously notified GOLD & FOREX INTERNATIONAL.

40.-

Without prejudice to the right of retention by GOLD & FOREX INTERNATIONAL, the deposit fee shall continue to be payable if the depositary does not collect the entrusted object/good within one month of the termination of the contract.

41.-

Any addition and/or modification of these general terms and conditions will be considered null and void if it has not been previously accepted in writing and signed by the parties.

42.-

The total or partial invalidity of these general terms and conditions shall not entail the invalidity of the agreement and/or the other provisions of these general terms and conditions.

43.-

Any dispute concerning the validity, interpretation and execution of these general terms and conditions shall be settled by the courts of the judicial district of Brussels, according to Belgian law.