Terms of Use

THE MINTED APP LTD

Terms and Conditions of Business

The Customer’s attention is particularly drawn to the provisions of Condition 19 (Limitation of liability).

These Terms and Conditions of Business govern the terms upon which we, The Minted App Limited (Company Number 11738684), trading as Minted,  (hereinafter referred to as “we” or “The Minted App”) shall supply you, the customer (hereinafter referred to as “you” or the “Customer”) with services in relation to the sale, purchase and storage of gold, to include the purchase and sale by you of gold, the storage of gold and participation in the Gold Savings Plan as hereinafter provided (the “Services”).

Why you should read them. Please read these terms carefully before you use the Services. These terms tell you who we are, how we will provide the Services to you, how you and we may change or end the contract, what to do if there is a problem and other important information. If you think that there is a mistake in these terms, please contact us to discuss.

1.           Interpretation

1.1.       The following definitions and rules of interpretation apply in these Terms and Conditions of Business:

“Business Hours” means 9:00 to 17.00 (London Time) during a Working Day;

“Commencement Date” has the meaning given in Condition 2.2;

“Conditions” means the Terms and Conditions of Business herein contained as amended from time to time in accordance with Condition 31;

“Contract” means, as the case requires, any and each contract that exists between The Minted App and the Customer in relation to the provision of any of the Services and for the avoidance of doubt each transaction entered into and concluded with a Customer shall be regarded as giving rise to a separate Contract governed by the Terms and Conditions then in force in accordance with Condition 3;

“Customer” means any person, entity, fund or corporation who becomes a customer of The Minted App in accordance with Condition 3 below;

“Minted Customer Account” means the account that the Customer creates with the The Minted App via its website www.theminted.app or it’s mobile applications on the Apple app store and the Google Play store, for the sale, purchase, storage and withdrawal of gold;

“Customer’s Verified Address” means the address nominated by the Customer for delivery of gold which is validated by The Minted App upon receipt of the sufficient proof of address provided by the Customer;

“Gold Holdings” means all gold and Physical Bullion held by The Minted App (or a nominated storage provider) on behalf of the Customer.

“Customer Portal” means the secure platform which allows Minted Customer Account holders to log in to The Minted App’s website or mobile applications to   create and manage their Gold Holdings and Gold Savings Plan as well as make one off Orders for the purchases and sale of gold and requests for delivery.

“Date of Trade” means the date on which The Minted App fulfils an Order in accordance with Condition 2.2.

“Gold Rate Table” means the table that details the commissions charged by The Minted App to the Customer over and above of the Gold Spot Price for Orders for the purchase of gold. The Gold Rate Table also details the commissions that The Minted App charges the Customer below the Gold Spot Price when the Customer makes an Order for the sale of gold.

“Gold Savings Plan” is a product offered by The Minted App which allows Customer’s to buy gold incrementally on a monthly basis at the Customer’s chosen Monthly Payment amount.

“Gold Spot Price” means the live UK gold market price for gold on any given day per one troy ounce, or other denomination as stated.

“Intellectual Property Rights” means patents, utility models, rights to inventions, copyright and neighbouring and related rights, moral rights, trade marks and service marks, business names and domain names, rights in get-up, goodwill and the right to sue for passing off or unfair competition, rights in designs, rights in computer software, database rights, rights to use, and protect the confidentiality of, confidential information (including know-how and trade secrets), and all other intellectual property rights, in each case whether registered or unregistered and including all applications and rights to apply for and be granted, renewals or extensions of, and rights to claim priority from, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future in any part of the world.

“Monthly Payments” are the fixed monthly payments made by the Customer in accordance with their Gold Savings Plan. The Monthly Payments amount is nominated by the Customer at the time that the Customer registers for the Gold Savings Plan. Monthly Payments shall be not less than £30 per month and not be more than £500 per month without the prior written agreement of The Minted App. Payment of the Monthly Payments shall be made pursuant to Condition 13.

“One-off Purchases” are payments related to additional one-off purchase orders made by the Customer through the Customer Portal in accordance with Condition 12.

“Order” means the Customer’s order for the supply of the Services, specifically by the Customer nominating a Monthly Payment amount or submitting a one-off purchase order.  Each Order shall be deemed to be a separate offer by the Customer to purchase gold on the conditions contained herein, which The Minted App shall be free to accept or decline at its absolute discretion.

“Physical Bullion” means gold bullion bars and coins including numismatic coins.

“Retail Daily Rate” means the Gold Spot Price plus the commission charged on top of the Gold Spot Price by The Minted App in accordance with the Gold Rate Table and based on the Value of the Order.

“Storage Provider” means a storage provider satisfying the requirements specified in Condition 18;

“Schedule of Charges” means the charges that are charged for services, found on the services page of our websites and will include prevailing rates for the storage of metal holdings;

“Unit Price” means the price per one troy ounce, or another denomination if stated, of the underlying metal at which The Minted App will buy or sell such gold, which Unit Price shall be confirmed either in writing, on screen or verbally to Customers before any Contract for sale or purchase is completed;

“Website” means the website currently maintained by The Minted App at www.The Minted App.com or such other website and/or mobile application as The Minted App may from time to time maintain;

“Working Days” means a day (other than a Saturday, Sunday or public holiday) on which clearing banks are generally open for business in England.

2.           Basis of Contract

2.1.       The Order constitutes an offer by the Customer to purchase the Services in accordance with these Conditions.

2.2.       The Order shall only be deemed to be accepted when The Minted App issues written acceptance of the Order or when The Minted App, at the Customer’s instruction, enters into a sale or purchase transaction with the Customer or on the Customer’s behalf at which point and on which date the Contract shall come into existence (“Commencement Date”).

2.3.       Any samples, drawings, descriptive matter or advertising issued by The Minted App and any illustrations or descriptions of the Services contained in the Supplier’s Website or other printed material are issued or published for the sole purpose of giving an approximate idea of the Services described in them. They shall not form part of the Contract nor have any contractual force.

2.4.       The Conditions shall:

(i).          apply to and be incorporated into the Contract to the exclusion of any other terms that the Customer seeks to impose or incorporate, or which are implied by law, trade custom, practice or course of dealing; and

(ii).        Prevail over any inconsistent terms and conditions contained or referred to in your purchase order, confirmation of order, acceptance of quotation, or specification or other document supplied by you or implied by trade, custom, practice or course of dealings.

3.           Deemed Acceptance and Prevailing versions of the Conditions

3.1.       You shall be deemed as a Customer of The Minted App by doing any or all of the following:

(i).          Registering for a Minted Customer Account;

(ii).        Registering for a Gold Savings Plan, placing a One-off Order or transferring the funds required to make a purchase of gold; and/or

(iii).       Upon entering into any other Contract for the supply of Services with The Minted App.

3.2.       We may from time to time modify the Conditions. Conditions as modified shall apply to Customers of The Minted App on the date on which such persons become a Customer of The Minted App. The modified Conditions shall apply to existing Customers, on or after the date (the “Relevant Date”) falling on the earlier of:

(i).          the date on which the modified Conditions are sent to the Customer in accordance with Paragraph 9 below; or

(ii).        the date falling 30 days after the date stated as the Effective Date in the modified Conditions;

in respect of any Contract entered into between the Customer and The Minted App on or after the Relevant Date.

4.           The purpose of our business relationship

You have chosen to become a Customer in order to benefit from The Minted App’ terms of trading in and storing gold. This Service is provided as execution only. We do not give guidance on price performance. Any opinion or information given by The Minted App concerning any market dynamic including, but not limited to price, possible performance or trading conditions whether posted on the Website or otherwise disclosed to a Customer shall not be construed as advice in any respect and the Customer’s attention is specifically drawn to Paragraph 5.

5.           Purchasing Disclaimer

5.1        Gold markets are volatile and the value of gold may go down as well as up. Accordingly, purchases in gold involve a degree of risk which may make them unsuitable for certain individuals. You should carefully consider the suitability of a purchase in gold as a personal purchase and if needs be should consider seeking independent professional advice before proceeding.

IMPORTANT NOTE: THE GOLD BULLION MARKETS, WORLDWIDE, ARE UNREGULATED. THERE IS NO GUARANTEE, EXPLICIT OR IMPLIED, OF THE FUTURE VALUE OF ANY OF THE GOLD PRODUCTS THAT WE SELL.

6.           Identification

6.1        All Customers are required to comply with the Criminal Justice Act 1994 (CJA). Pursuant to the CJA, we are obliged to carry out sufficient checks to verify the identity of our customers. In this regard, before accepting orders, we will require certain identification.

6.2        The Minted App reserves the right to request additional identity verification information if it believes it necessary or appropriate to do so in order to comply with its obligations under the CJA.

6.3        You undertake to identify yourself according to the identity verification procedures required by The Minted App. You authorize The Minted App to make such enquiries as it may feel necessary to satisfy itself about the validity of your identity.

6.4        You accept that your failure to identify yourself promptly and correctly may negate some of the protections you seek from The Minted App. You hereby indemnify and keep indemnified The Minted App against losses which arise out of your failure to identify yourself promptly and correctly.

7.           Data Protection

7.1        To provide the service The Minted App needs to record and process information about you and you permit The Minted App to do so. The Minted App does not disclose data about you to third parties except where required either:

(i).          in the ordinary administrative course of verifying identity and sources of bank funding and completing your The Minted App transaction(s); and/or

(ii).        where you specifically request us to use your data for the purposes of supplying other services;

(iii).       where required by law.

7.2        Both parties will comply with all applicable requirements of the Applicable Data Protection Laws. This Condition 7 is in addition to, and does not relieve, remove or replace, a party’s obligations or rights under the Applicable Data Protection Laws. In this Condition 7, Applicable Data Protection Laws means (for so long as and to the extent that they apply to The Minted App) the law of the European Union, the law of any member state of the European Union and/or Domestic UK Law; and Domestic UK Law means the UK Data Protection Legislation and any other law that applies in the UK.

7.3        The parties acknowledge that for the purposes of the Applicable Data Protection Laws, The Minted App is the Processor. Without prejudice to the generality of this Condition, The Minted App will ensure that it has all necessary appropriate consents and notices in place to enable lawful transfer of the personal data to The Minted App for the duration and purposes of the Contract.

7.4        The Customer consents to The Minted App appointing the persons listed from time to time in The Minted App’s Data Protection Policy as Processors of personal data under the Contract. The Minted App confirms that it has entered or (as the case may be) will enter with the third-party processor into a written agreement substantially on that third party’s standard terms of business. As between the Customer and The Minted App, The Minted App shall remain fully liable for all acts or omissions of any third-party processor appointed by it pursuant to this Condition 7.4.

8.           Contact details

8.1        The Minted App will maintain the following contact details for you:

(i).          an email address;

(ii).        a mobile telephone;

(iii).       a home telephone; and

(iv).       a home address.

8.2        You agree to keep your contact details held by The Minted App up to date and accurate, which you can do via the website or by contacting our office. The Minted App is entitled to rely on the accuracy of the contact details supplied.

8.3        You agree to notify The Minted App within 30 days of any changes to your contact details.

8.4        You agree that The Minted App shall not be responsible for any loss, expense, delay or other breach under these terms incurred as a result of your failure to accurately maintain your contact details. You hereby fully indemnify and keep indemnified The Minted App against all such liabilities and associated losses, expenses or delays which arise out of your failure to maintain your contact details correctly.

9.           Communication between us

9.1        Your primary means of communication with The Minted App will be via email / telephone. You may also submit questions and access responses and general information and carry out certain transactions using the client query tool located on the Website.

9.2        Email:

9.2.1    The Minted App will, from time to time, will send information to you by email including, but not limited to, acknowledgements of changes to your key account settings, order confirmations, execution advices, contracts and changes to these Conditions. The Minted App system records all outward email transmissions.

9.2.2    It is your responsibility to ensure that any nuisance email filters in use by you or your email service providers are not configured to block email from The Minted App.

9.2.3    You understand and accept that The Minted App shall be deemed to have duly sent or transmitted an email to you when it places onto the public part of the Internet an email correctly addressed to your email contact address as notified from time to time to The Minted App.

9.2.4    You understand and accept that email is not encrypted and that it operates with a similar degree of privacy as physical post, in that a network engineer, has the ability to see email and attachments if he chooses to open your mail. You accept and understand that easily comprehended open format feedback to a known and used email address is appropriate for reporting your completed business to you, off-line, and after the event.

9.3        Telephone:

The Minted App may contact you by telephone on the telephone number(s) advised to us for the purposes of confirming any Order(s) including to confirm the applicable Unit Price prior to concluding a sale or purchase of gold with you or on your behalf. You agree that all calls made between you and The Minted App may be recorded by The Minted App in order to assist with our monitoring and compliance procedures, and to avoid misunderstandings. Such records will be our property and will be accepted by you as evidence of your orders or instructions. We may use the recordings and /or transcripts for any lawful purpose which we deem desirable and the recording of any such telephone calls shall be admissible as proof of the matters discussed therein.

9.4        Website Usage:

9.4.1    Access to and use of the Website for information purposes and to avail of any Services shall be subject to all usage terms and conditions, policies and procedures specified from time to time on the Website. When you register on the Website, you will be asked to provide a username and password which may be changed by you from time to time. You shall be solely responsible for protecting the confidentiality of your username and password. You must not disclose it to any third party. You shall notify The Minted App immediately should you suspect or become aware that your username or password has become known or available to any other person.

9.4.2    We shall have the right to disable any username or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these terms of use.

9.4.3    We shall have no liability or responsibility to you for acting on instructions purporting to be given by you via the website (whether or not you in fact gave such instructions) where:

a)           your username and password have been correctly input into the Website in connection with such instructions; and

b)           you have not notified us in accordance with Condition 9.4.1.

9.4.4        In accessing the Website and availing of any of the Services or information available on or via the Website, you accept and are deemed to accept that electronic mail messaging and internet communication may not be free from interference by third parties and may not remain confidential. The use of the Website is at your sole risk. If you suspect that any information communicated in connection with the Website may be incorrect, please contact The Minted App on [email protected]

10.        Acceptable ways of making pre-payments

10.1.    The Minted App shall not be obliged to fulfil any Orders, pre-payments or monies on accounts unless sufficient funds to cover the full value of the Order are received in cleared funds in the Minted App’s nominated bank account. Payment of the Order price may be made in accordance with condition 13 (Payments). If any payments by regular card payment or Truelayer, the Customer acknowledges that their bank may be expected to identify standard banking data on each incoming payment to the Minted App’s nominated bank account, including:

i)             your bank name;

ii)            your branch identifying code;

iii)          your account name;

iv)          your bank account number; and

v)            your The Minted App user name or quotation reference number (as the payment reference).

10.2.    The Minted App retains the right at its absolute discretion to accept an Order without receipt of cleared funds. In such circumstances, The Minted App will retain ownership of the gold until such time as The Minted App has received the full Order price in cleared funds. In the event that funds do not clear, The Minted App shall retain the right to seek full payment from the Customer for the Order or cancel the Order in accordance with Condition 15. In the event that the Order is cancelled by The Minted App, the Customer shall be fully liable to pay any and all losses and or administration expenses relating to the Order.

10.3.    The Customer agrees that any failure, delay or by the Customer’s bank to identify the source of your money may delay your account being credited or the funds in the account being allocated and credited to your account with The Minted App. In such circumstances, The Minted App may place your money in a suspense account until such time as the correct remittance details are established to The Minted App’s satisfaction.

10.4.    You accept that where you have provided us with necessary details independently of the actual bank transfer on which your money was received, The Minted App is entitled to suspend your right to immediate withdrawal for a period not exceeding six weeks.

11.        Quotations

11.1     Unless stated otherwise all Unit Price quotations given by The Minted App for the purchase and sale of gold are indicative only and subject to movement in accordance with the Metal Price of the precious metal concerned.

11.2     Any quotation given by The Minted App shall not constitute an offer, and is only valid for the period specified in the quotation from and including its date of issue. If no period is specified in the quotation then the quote shall only be valid for a period of 1 working day from and including the date of issue.

11.3     In the event of a sudden or material change in the underlying Spot Metal Price from the date of issue of the quotation and before such time as an Order is placed, The Minted App reserves the right to withdraw the quotation. In such circumstances a new Unit Price will be quoted in accordance with these Conditions.

11.4     Quotations will include provision for any VAT or other tax that applies and for which The Minted App is required to account.  The Minted App reserves the right to revise any quote to include such VAT or any other applicable tax where The Minted App has an obligation to account for VAT or other applicable tax which it was not aware of at the time of giving the quotation. The Minted App shall not be responsible for any VAT or customs charges imposed on the Customer by the revenue authorities of that Customer’s jurisdiction. The Customer shall be responsible for and shall discharge all customs and excise charges and VAT payable by it on importation by the Customer of metal products into a jurisdiction. Should the purchase of gold by The Minted App on behalf of the Customer be or become subject to VAT, The Minted App shall be entitled to increase the agreed purchase price by an amount equivalent to the applicable VAT rate. The Minted App will then provide the Customer with the respective gross amount mentioned.

12          Price:

12.1     For the Gold Savings Plan a minimum Monthly Payment of GBP £30.00 per month as specified in the Gold Rate Table. The Customer may increase or decrease the Customer’s Monthly Payments at any time provided that the Monthly Payment is above the minimum of GBP £30.00 per month.  To change the Monthly Payments amount, the Customer may login to the Customer Portal and change the Monthly Payments figure accordingly. The Customer is solely liable for ensuring that the Monthly Payments are correct before making or accepting any changes. The Customer shall not be entitled to a refund in the event that a Monthly Payment is incorrect.

12.2     The Gold Rate Table  will be in £ GBP (inclusive of VAT) shown on The Minted App’s Website from time to time.

12.3     For One-off Orders, the purchase price charged to the Customer shall be the total of the Gold Spot Price plus any commission charged by The Minted App as specified in the Gold Rate Table. For all One-off Orders, the minimum quantity purchased by the Customer shall be 10 grams per One-off Order.

12.4     All commission charged by The Minted App on Orders for the purchase of gold by a Customer will be charged at the following fixed percentage over the Gold Spot Price in GBP (£). This table is subject to change and The Minted App shall use reasonable endeavours to notify Customers in advance of any Order fulfilment.

 

Monthly PaymentsOne-off Orders
Value of Order (GBP)Commission on Gold Spot Price (% of value)Size of Order (Grams)Commission on Gold Spot Price (% of value)
£301910-508.5
£501860-1007.5
£10015110-5007
£20011510+6.5
£3008
£4007
£5006

12.5     All Orders for the sale of gold by the Customer will be charged at 1.5% below the morning Gold Spot Price in GBP as reported in the morning of the Date of Trade. This may be subject to change and The Minted App shall use reasonable endeavours to notify Customers in advance of any sale.

12.6     Local currencies will be converted to GBP at the prevailing retail rate prior to the day of trading.

12.7 The Minted App offers free storage and insurance to all Customers with an active Gold Savings Plan for the first 12 months. Customers without an active Gold Savings Plan who store gold with The Minted App will be charged a monthly storage fee of 0.05% of the Customer’s total Gold Holdings subject to a minimum storage fee of £1.99 per month. If a customer exceeds gold holdings of 200 grams within the first 12 months then they will be charged the monthly storage fee. In this condition, “active” means a Gold Savings Account with (a) a valid direct debit or regular card payment authorisation set up for the collection of the Monthly Payments and (b) with a payment scheduled.

12.8     All amounts due by the Customer shall be paid in full without any set-off, counterclaim, deduction or withholding (other than any deduction or withholding of tax as required by law).

12.9     All proceeds from Orders for the sale of gold will be sent to the Customer’s nominated bank account within a maximum of 5 working days of receipt of the funds by The Minted App (usually within 1 or 2 working). The Customer acknowledges that there may be delays caused by their bank processing the transaction which are outside of The Minted App’s control.

13          Payment:

13.1     The Customer shall pay by the following methods:

i)                 for Monthly Payments, the Customer shall grant The Minted App a direct debit or regular card payment authorisation for the collection of the Monthly Payments.

ii)                for One-off Payments, the Customer may pay by logging into their online banking via Truelayer, The Minted App’s third party payments provider and make payment thereon.

13.2     Payment in cash is not permitted under any circumstances for any Orders.

13.3     If the Customer has issued a direct debit authorisation for Monthly Payments, The Minted App shall be entitled to immediately charge the Monthly Payment amount to the relevant bank account of the Customer. Should The Minted App withdraw the Monthly Payment amount but the transaction fails to be concluded for any reason, The Minted App agrees by way of a no-fault promise, to reimburse the amount collected to the Customer’s relevant account without delay.

13.4     If the payment fails to be transacted successfully for any reason (e.g. due to insufficient funds), the Customer shall be liable for all additional costs according to the current Gold Spot Price, Gold Rate Table and any additional administrative costs incurred.

13.5     With recovery of the Monthly Payments or payment of one-off Order, the Customer commissions The Minted App, to undertake the purchase of gold on their behalf subject to these terms. Subject to conditions 12.1 (Monthly Payment minimum) and 12.3 (One-off Order minimum), the smallest Gold Holding unit which shall be acquired on behalf of the Customer is 0.01 gram.

13.6     Unless otherwise specified, The Minted App will withdraw funds via Direct Debit on the 1st day of each month. The Customer is required to have made full payment of the Order in cleared funds to The Minted App’s nominated bank account before The Minted App will acquire gold on the Customer’s behalf. All acquisitions of gold by The Minted App will be made at the Retail Daily Rate on the Date of Trade.

13.7     The Minted App will deduct an agreed sum each month from the Customers bank account via a direct debit mandate, regular card payment or any other permitted method. Your gold purchase will be made on a date selected by The Minted App which will occur once funds have been cleared into your account  (Trade Date). All Orders will be processed and notified to the Customer no later than 48 hours after the Trade Date. The Customer will be notified of the number of grams purchased via email. Grams will be rounded down to two decimal places.  The total gold quantity in the Gold Holdings and details of all Orders can be viewed on the Customer Portal by logging in using the Minted Customer Account.

14          Ownership

14.1     The transfer of ownership of the purchased gold to the Customer is made when the gold is posted  on the Gold Holdings shown on the Customer Portal. Until such time as the gold is posted to the Gold Holdings or full payment of Order is received (whichever is the later), The Minted App reserves ownership of the gold.

15          Cancellation

15.1     The Customer is entitled to a “cooling off period” meaning that the Customer may cancel their account within 14 days of account opening date. If the Customer participated in any transactions during the 14 day “cooling off” period, any losses or costs suffered by The Minted App shall first be deducted before the funds are returned to the Customer.

15.2     The Customer may cancel their Gold Savings Plan at any time by giving The Minted App two weeks prior written notice. On cancellation, the Customer shall immediately pay to the The Minted App all unpaid payments due under the Gold Savings Plan. The Minted App reserves the right to deduct any unpaid payments from the Customer’s nominated bank account, or if the Customer has issued a direct debit authorisation, by withdrawal by direct debit or any other permitted method. The cancellation of the Gold Savings Plan does not affect the Minted Customer Account which will remain active until such time as the Customer deactivates the Minted Customer Account through The Minted App website.

15.3     The Customer acknowledges that the price for the supply of gold is dependent on Gold Spot Price, which The Minted App cannot control. The Customer agrees that it shall not be entitled to cancel any Orders placed or Orders fulfilled by The Minted App. If a Customer wishes to cancel any Order, the Customer should immediately contact The Minted App by telephone. The Minted App will use its best endeavours to assist Customers to cancel any Orders which The Minted App has not yet fulfilled however cancellation is not guaranteed.

15.4         Without affecting any other right or remedy available to it, The Minted App may suspend or terminate the supply of Services or the performance of any contract between the Customer and The Minted App if:

i)                 the Customer fails to pay an amount due under these Conditions on the due date for payment and remains in default not less than 15 days after being notified in writing to make such payment;

ii)                The Minted App suspects the Customer of breaching any law or regulation or judicial or official order applicable to the Services including but not limited to committing fraud or money laundering, or

iii)              The Minted App suspects the Customer of being on an Anti-Money Laundering sanctions list including but not limited to suspicion that the Customer may be a politically exposed person;

iv)              the Customer commits a material breach of any other term of this agreement which breach is irremediable or (if such breach is remediable) fails to remedy that breach within a period of 30 days after being notified in writing to do so;

v)                the Customer repeatedly breaches any of the terms of this agreement in such a manner as to reasonably justify the opinion that its conduct is inconsistent with it having the intention or ability to give effect to the terms of this agreement; or

vi)              the Customer suspends, or threatens to suspend, payment of its debts or is unable to pay its debts as they fall due or admits inability to pay its debts or is deemed either unable to pay its debts or as having no reasonable prospect of so doing, in either case, within the meaning of section 268 of the IA 1986;

vii)             the Customer commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with any of its creditors; or

viii)           the Customer dies or, by reason of illness or incapacity (whether mental or physical), is incapable of managing their own affairs or becomes a patient under any mental health legislation.

15.5         For the purposes of condition 15.4 (ii), material breach means a breach (including an anticipatory breach) that is serious in the widest sense of having a serious effect on the benefit which the terminating party would otherwise derive from:

i)                 a substantial portion of this agreement; or

ii)                any obligations set out in conditions 6 (Identification), 8 (Contact Details), 10 (Pre-payments), 13 (Payments) and 17 (Delivery),

over any 3-month period during the Term. In deciding whether any breach is material no regard shall be had to whether it occurs by some accident, mishap, mistake or misunderstanding. When terminating for material breach, The Minted App may rely on a single material breach or several breaches or repeated breaches that, taken together, constitute a material breach.

16          Conversion options

16.1     The Customer may request delivery of the gold held in the Gold Holdings once the Customer has accumulated a minimum amount of 10g gold stock.

16.2     In the event that the Gold Holdings balance is less than 10g gold stock, the Customer may only opt to receive the value of the Gold Holdings as a cash settlement. The value of the cash settlement will be based upon the GBP Gold Spot Price minus the percentage specified in the Gold Rate Table on the day of the transaction before 5pm GMT. Any request for conversion after this time will be at the following day’s Gold Spot Price. Settlement proceeds will be remitted to the nominated bank account.

16.3     The Customer may sell any or all of the gold held in their Gold Holdings to The Minted App for a cash settlement at any time in accordance with condition 12.5.

17          Delivery

17.1     Subject to Condition 16.1, the Customer may make a written request to The Minted App to deliver the physical possession of the gold held in the Gold Holdings to the Customer’s Authorised Address. The Minted App shall arrange for the delivery at the expense and sole risk of the Customer. The Customer will be provided with details of the transport and security costs of delivery and no delivery will be made until full payment of all associated costs has been received in cleared-funds by The Minted App.

17.2     Any dates quoted for delivery are approximate only and are provided by the delivery carrier.  The time of delivery is not of the essence. The Minted App shall not be liable for any delay in delivery that is caused by a Force Majeure Event or the Customer’s failure to provide adequate delivery instructions or any other instructions that are relevant to the delivery or requested by the delivery carrier.

17.3     Delivery is completed on the the loading of the gold to the delivery carrier and all risk in the gold shall pass to the Customer on such completion of the delivery. The Minted App shall not be liable for any costs, liability, issues or delays with delivery carrier which are incurred after delivery is completed.

17.4     All Physical Bullion will be delivered to the Customer’s Authorized Address.

17.5     Where the Customer’s Authorised Address is not located within the United Kingdom, the Customer is liable for the payment or discharge of any importation taxes, payable by it, and delivery shall be deemed have occurred one Working Day after the date on which the customs authority in the relevant jurisdiction or the carriers, shippers or agents (as the case may be) notifies the Customer that the goods are available for collection subject to the payment of such taxes.

17.6     It shall be the Customer’s sole responsibility to ensure that the Customer or a trustworthy person authorised by the Customer to receive the gold (an “Authorised Person”) is available at the Customer’s Authorised Address to take delivery and The Minted App and its carriers, shippers and agents shall be entitled to assume that any person taking delivery of the goods at the  the Customer’s Authorised Address is an Authorised Person. The Minted App shall not be liable for security at the Customer’s Authorised Address.

17.7     The Customer or Authorised Person must sign for receipt of the gold and such act, without reservation, shall amount to prima facie evidence that the gold has been received in good condition. If at the time of delivery the Customer or Authorised Person contends that the packaging has been opened or damaged or that seals have been broken or removed or that unpacked items are damaged, then the Customer or Authorised Person must record any such irregularities on the receipt from the carrier and notify The Minted App immediately. If the Customer or Authorised Person refuses or is unavailable to take delivery or if delivery cannot be completed for any reason not due to the negligence of the The Minted App or its carriers, then The Minted App may arrange for the gold to be placed in storage with a storage provider at The Minted App’s discretion’. All costs of storage will be borne by the Customer and The Minted App shall assume no liability whatsoever (whether for negligence, loss, non-delivery, miss-delivery, theft or otherwise) to the Customer in such circumstances except if there has been wilful misconduct by The Minted App in the storage arrangements.

18          Storage Services

18.1     The Minted App will store gold on the Customer’s behalf subject to these terms and conditions and any further terms notified to the Customer from time to time.

18.2     The Minted App shall arrange for the delivery of the Customer’s Order from the Supplier to the Storage Provider for storage on the Customer’s behalf. Delivery of the Order from the Supplier to the Storage Provider may take up to 14 days from the Date of Trade.

18.3     Storage fees shall be charged in accordance with condition 12.7.

18.4     The Minted App shall have a general lien on all gold in its possession or control in respect of unpaid storage fees whether or not relating to goods over which the lien is exercised. The Minted App shall have the right and shall be authorised to sell the metals or any part thereof if after a period of fourteen (14) Working Days written notice of the exercise of its lien, if payment in full has not by then been made. Such sale will be as agent of the Customer. The Minted App will apply the sale proceeds first to the sums due to it under this Condition and the costs of sale and will account to the Customer for the balance with fourteen (14) Working Days of receiving the sale proceeds.

19          Limitation of Liability

THE CUSTOMER’S ATTENTION IS PARTICULARLY DRAWN TO THIS CONDITION.

19.1     This Condition 23 sets out the entire financial liability of The Minted App (including any liability for the acts or omissions of its employees, agents, consultants and sub-contractors) to the Customer in respect of:

i)             any breach of a Contract;

ii)            any failure to supply any service or fulfil any order hereunder;

iii)          any representation, statement or tortuous act, or omission (including negligence) arising under or in connection with a Contract.

19.2     Nothing in these Conditions limits or excludes the liability of The Minted App:

i)             for death or personal injury resulting from negligence; or

ii)            for any damage or liability incurred by the Customer as a result of fraud or fraudulent misrepresentation by The Minted App;

iii)          for any liability incurred by the Customer as a result of any breach by The Minted App of the condition as to title implied by Section 12 of the Sale of Goods Act 1893.

19.3     The Minted App shall exercise due skill, diligence and care in the selection and appointing any Storage Provider and shall ensure that the Storage Provider is a reputable storage provided with appropriate expertise in the business of managing the receipt, storage and re-delivery of gold according to best industry practice. The Minted App shall not otherwise be liable for the acts of the Storage Provider unless the selection of such Storage Provider was made negligently or in bad faith. The Storage Provider’s liability to The Minted App in respect of storage services may be limited under its terms and conditions and a copy of such terms and conditions will be given to a Customer on request.

19.4     The Minted App undertakes to ensure that your gold are insured against theft or damage according to accepted industry standards. The Customer acknowledges that such insurance will be subject to exclusions in line with insurance industry practice. Save as aforesaid, all metals are stored or otherwise dealt with at the sole risk and peril of the Customer.

19.5     All warranties, conditions and other terms implied by statute or common law and all non –contractual obligations, are to the fullest extent permitted by law excluded from these Conditions and any Contract between the Customer and The Minted App.

19.6     Save as aforesaid, The Minted App shall under no circumstances be liable for loss of profits, loss of business, depletion of goodwill or other similar losses, or any other special, indirect consequential or pure economic loss, cost damages, charges or expenses or fall in the value of any precious metal or currency which arise out of, or in connection with, any Contract or these Conditions.

19.7     Without prejudice to any other provisions of this Agreement, The Minted App’s total liability in contract, tort (including negligence or breach of statutory issue), misrepresentation, restitution or otherwise arising or in connection with the performance of any contract or contemplated performances of any contract and/or these Conditions shall be limited to the value of the Customer’s precious metal from time to time deposited with or by The Minted App together with the value of any cash balance held to the credit of the Client Account on behalf of such Customer.

19.8     This Condition 19 shall survive cancellation of the Contract.

20          Ownership

20.1     Subject to condition 18.4, all gold stored by The Minted App are held on bailment for the Customer which means that the gold shall remain the absolute property of the Customer whilst in storage. The Minted App undertakes to pay all storage fees promptly when due. In this regard, save as specified above, the insolvency of The Minted App or any storage provider would not affect your property rights in respect of your Gold Holdings, albeit that such circumstances could result in delay and inconvenience in retaking of custody of the physical gold.

20.2     In the event of a customer’s death, ownership of all held gold will be transferred to the nominated power of attorney.

21          Intellectual Property Rights

21.1     All Intellectual Property Rights in or arising out of or in connection with the Services shall be owned by The Minted App.

22          Force Majeure

22.1     The Minted App shall have no liability to a Customer under these Conditions or under any Contract if it is prevented from, or delayed in performing, its obligations under the said Contract or these Conditions, or from carrying on its business, by acts, events, omissions or accidents beyond its reasonable control, including (but without limitation) strikes, lock-outs or other industrial dispute (whether involving the workforce of The Minted App or any other party) or failure of a utility service or transport network, system failures, intermediary system outages, postal failure or losses (either of The Minted App or of any other party), act of God, Pandemic, war, riot, civil commotion, malicious damage, compliance with any law of Governmental order, rule, regulation or direction, accident, breakdown of equipment, plant or machinery, fire, flood, storm or default of suppliers or sub-contractors.

23          Complaints Resolution

23.1     If you have any complaints in relation to the service being provided by The Minted App, you should contact us immediately. In particular, if you dispute, disagree with or have any issue with the content of any communication sent to you by email or by post in accordance with Condition 9 you must contact The Minted App immediately. The Minted App shall be entitled to assume your acceptance of the content of an email or postal communication if within three calendar days of the date of transmission to the correct email address or the date of service of such postal communication (as the case may be), no response from you has been received by The Minted App.

23.2     The Minted App shall use all reasonable endeavours to resolve any issues communicated to it by you, but you acknowledge that any delay in communicating such dispute, disagreement or issue may prevent or reduce the value of any resolution of such matter.

24          Legal Status

24.1     By placing an order with The Minted App in respect of any of the Services, the Customer warrants, undertakes and represents that the Customer is:

i)              legally capable of entering into binding contracts;

ii)            at least 18 years old;

iii)          in compliance and shall continue to comply with the laws of the territory from which you make any order or access the The Minted App website.

iv)          at all times be solely responsible for obtaining any authorisation required by any authoritative body in the territory in which you are based.

24.2     The Minted App reserves the right at its sole discretion to refuse orders from any person suspected to be prevented under the laws of any jurisdiction from transacting for the Services or whom The Minted App may not supply under the law of that jurisdiction, whether or not such law or impediment actually exists or might be enforceable or otherwise have extra-territorial effect.

25          Assignment and other dealings

25.1     The Minted App may at any time assign, mortgage, charge, subcontract, delegate, declare a trust over or deal in any other manner with any or all of its rights and obligations under these Conditions.

25.2     The Customer shall not assign, transfer, mortgage, charge, subcontract, delegate, declare a trust over or deal in any other manner with any of its rights and obligations under these Conditions.

26          Severance

If any provision or part-provision of these Conditions is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this Condition 27 shall not affect the validity and enforceability of the rest of the Conditions.

27          Waiver

A waiver of any right or remedy under these Conditions or by law is only effective if given in writing and shall not be deemed a waiver of any subsequent right or remedy. A failure or delay by a party to exercise any right or remedy provided under these Conditions or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under these Conditions or by law shall prevent or restrict the further exercise of that or any other right or remedy.

28          No partnership or agency

Nothing in these Conditions is intended to, or shall be deemed to, establish any partnership or joint venture between the parties, constitute either party the agent of the other, or authorise either party to make or enter into any commitments for or on behalf of the other party.

29          Entire agreement

29.1     These Conditions and any other terms or policy referenced herein constitute the entire agreement between the parties and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter.

29.2     In the event that there is any ambiguity or inconsistency in or between these Conditions and any other terms or policy referenced herein, the priority of the documents is in accordance with the following sequence: these Conditions any other document identified in these Conditions, any of The Minted App’s other Policies or Procedures.

29.3     Each party acknowledges that it does not rely on, and shall have no remedies in respect of any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in these Conditions. Each party agrees that it shall have no claim for innocent or negligent misrepresentation [or negligent misrepresentation] based on any statement in the Contract.

30          Third party rights

Unless it expressly states otherwise, these Conditions do not give rise to any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of contained herein.

31          Variation

Except as set out in these Conditions, no variation of the Contract shall be effective unless it is agreed in writing and signed by the parties (or their authorised representatives).

32          Governing law

The Contract and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of England and Wales.

33          Jurisdiction

Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with the Contract or its subject matter or formation.