Safegold Agreement Terms & Conditions
Updated 16 November 2022
- The Client requests Scoin Trading (Pty) Ltd (Scoin) to store the Coins /Medallions (“Coins”) described in the annexed Form, on the terms herein, atsecure facilities.An administration fee shall be charged, and such are subject to reasonable change annually, of which the client will receive prior notification.
- On acceptance of this request by Scoin’s authorized representative at its Head Office, the Client shall solely be responsible to deliver the Coins to Head Office or any authorized Scoin shop specified from time to time, together with satisfactory proof of banking, residence & identity documentation, and where required, the client solely is responsible to advise Scoin of any change to personal details.
- Pre ordered coins on order will be placed directly into safe custody on arrival.
- Where the Client is a Company, Close Corporation, Trust, Partnership or other entity, its duly authorized representative/s as nominated by a resolution of at least 51% of the members/ shareholders/ trustees and shall be the sole person dealt with by Scoin, unless a new resolution is provided.
- Where the Client is a minor, their legal guardian shall take all responsibility interms hereof, until the minor attains the age of 18.
- Where more than one client has an interest in the coins, each client is required to provide the documents requested in paragraph 3 and each client’s signature is required for the release of the coins.
- Under no circumstances will Scoin deal with or deliver coins to any personother than the signatory hereto personally, save where authorized by legal authority.
- Scoin will insure all Coins at its own cost that have been purchased by the client. At date of loss the replacement value shall be determined by an expert appointed by Scoin. The Insurance confirmation letter is available on request. The Client consents to Scoin affecting such insurance on their behalf, and ceding their interest therein for such purpose insofar as required.NOTE: Coins which have not been sold to the Client by Scoin will not be insured, the responsibility to insure these coins will fall solely upon the Client.
C. Obligation in the Event of Loss
- Notwithstanding anything else contained herein, if Scoin has any obligation to theClient for any loss whatsoever, this shall be limited to the above insured value, ifapplicable, or the value determined by an expert appointed by Scoin, whichever ishigher, or at Scoin’s discretion, the replacement with an identical coin or the closestavailable equivalent, approved by such expert.
D. Release & Cancelation
- The Client agrees that a courier disbursement fee may be applicable upon release,determined by the value amount. The courier disbursement fee may be obtained from Head Office.
- Either party shall be entitled to terminate this agreement on 30 days written notice.
- On termination of this agreement for any reason, the Client shall collect the Coinsfrom our Head Office by prior arrangement. The Client may request dispatch bycourier, within a reasonable time, against payment of the standard courierdisbursement fee.
- Coins not collected after the expiry of the termination period, for any reason, shallbe subject to Scoin’s standard storage charges and no insurance coverage shall besupplied.
- Should the contract be cancelled by the client, the fees allocated for the reminder ofthat calendar year will be reserved as a cancellation fee. Extended option fees will berefunded accordingly.
- Scoin shall be entitled to amend the terms hereof from time to time on 30 days written notice. If the Client does not return written acceptance thereof within 30 days of receipt, this agreement shall terminate and the Client shall collect the Coins provided for herein.
- Any document sent to the client in terms of this agreement will be sent to the address, whether physical or email as nominated by the client in this agreement as their address of service. 1.1.Document sent by email or fax will be deemed to be delivered onthe day the documents are sent. 1.2. Documents sent via registered post will be deemed to be delivered 14 daysafter having been posted.
G. Reservation of the Right with Respect to Bullion
- The Client hereby acknowledges and provides authorization that Scoin mayhold Bullion purchases in an allocation pool. Pool Allocation refers to thecompany setting aside Bullion coins into a segregated pool which equatesto the amount of Bullion coins owned by our customers. This will howevernot affect the release of coins for collection or delivery and stock will beavailable at the clients request or at the end of the 30 (thirty)day termination period of the Agreement.
- Clients shall at all times comply with Scoin’s security requirements, whichare non-negotiable.
- These are the sole terms and conditions for the storage of the Coins. Nopurported counter-offer, amendment or cancellation shall be of any force oreffect unless reduced to writing and signed by all parties. No representationshave been given by any party save as set out herein, and no relaxation ofthese terms or indulgence granted by any party shall bind them in any way orbe construed as a waiver of their rights.
5-YEAR FREE SAFEGOLD TERMS AND CONDITIONS
These Terms and Conditions ("Agreement") govern the provision of a 5 (five) year, free of charge SafeGold storage service ("Service") by The Scoin Shop t/a The South African Gold Coin Exchange (“the Company”) to new clients who make a purchase on or after 02 October 2023, unless otherwise specified by the Company. By opting into this Service, the client agrees to be bound by the terms outlined herein.
2. Opting into the 5-Year Free Storage Contract
2.1. Upon making a purchase, the client will be automatically enrolled in a 5 (five) year free of charge SafeGold storage contract ("the Contract"). The client will have the opportunity to decline this offer at the outset.
3. Early Release of Stored Items
3.1. Should the client opt into the Contract and subsequently request the release of their purchased items before the Contract's expiry, the client shall be liable for payment towards the storage of their items for the duration of time the items were stored, which is less than 5 (five) years. The storage charges will be determined by the Company and are subject to change from time to time.
4. Contract Expiry and Renewal
4.1. Upon the expiration of the 5 (five) year free of charge Contract, the client may choose to collect their items, having given notice of no less than 90 days prior to expiry of the agreement, or enter into a new storage agreement at their own expense.
5. Automatic Renewal
5.1. In the event that the client fails to communicate within the notice period set out in point 4, with the Company, the Company reserves the right to automatically enrol the client into a 1 (one) year SafeGold contract. The cost of this contract will be borne by the client, and storage charges will be determined by the Company, and are subject to change.
6. Existing Clients
6.1. Any client who made a purchase from the Company before 02 October 2023, shall not be eligible for the free 5 (five) year SafeGold storage unless otherwise stipulated by the Company. Such clients shall be bound by the original SafeGold Agreement terms and conditions.
7. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the Republic of South Africa.
By using our Service, you acknowledge that you have read, understood, and agreed to be bound by these Terms and Conditions.