Terms and conditions for selling gold, silver and platinum to BullionStar/GoldBuyers

Agreement between the seller and BullionStar/GoldBuyers

§ 1 - Information about the buyer

The buyer is BullionStar Pte Ltd (hereinafter referred to as BullionStar or “the company”) with company registration number 201217896Z. GoldBuyers Singapore is a brand used by BullionStar to market its services for buying gold, silver and platinum.

BullionStar is licensed as a secondhand goods dealer in accordance with the Secondhand Goods Dealers Act (Chapter 288A).

§ 2 – Agreement between the seller and BullionStar

An agreement is entered into by the customer verbally accepting GoldBuyers price quote for the items or by the customer indicating that he or she would like to go ahead selling the items.

When presented with items that a customer considers to sell, BullionStar quotes the customer a price that the customer can choose to accept or decline. If the customer chooses to accept the quote offered by GoldBuyers, the ownership of the items sold by the customer is transferred directly without any cancellation rights to BullionStar.

BullionStar reserves the right to decline purchasing any items for any reason.

The prices listed on the company’s website, in valuation tools online and in the company’s marketing material are of indicative nature only. A price quoted by BullionStar is only valid for acceptance in direct connection to the quote. If the customer does not accept the quote immediately, the quote becomes invalid.

§ 3 – The customer

The customer must be 18 years of age or older to enter into an agreement with BullionStar. The customer must furthermore be the rightful legal owner of the items and have the right to freely sell the items.

The customer must always state his/her name and address when selling items to BullionStar. BullionStar reserves the right to conduct customer due diligence by requesting proof of identity and address as well as origin of the items sold by the customer. BullionStar treats personal information with full confidentiality.

BullionStar will save the customer details for a minimum of five years in accordance with the rules in the Secondhand Goods Dealers Act.

§ 4 - Liability

An agreement is entered into first when a customer accepts BullionStar's quote for the items to be sold. BullionStar assumes no liability for any items before they are sold to BullionStar and in BullionStar's possession. The agreement is only binding for BullionStar provided that the metal, weight and purity/karat are correctly specified as stipulated in § 7.

BullionStar holds no responsibility for information published by others than BullionStar. The information on BullionStar’s website is only informative in nature and does not constitute a binding offer.

§ 5 – Valuation, Price and Price Guarantee

A price is quoted to the customer based on BullionStar’s valuation of the items presented. The price depends on the precious metal spot price, weight, purity/karat and in some instances on the condition or characteristics of the items presented.

By handing over item/s to BullionStar for testing, the customer acknowledges that BullionStar has the right to disassemble, split, scrape or in any other way adjust the form of the items necessary to test the metals. The customer furthermore acknowledges that BullionStar has the right to use X-Ray equipment, electronic test devices, spectrometers and chemical testing solutions on the item/s. BullionStar does not take responsibility for any damages or changes that may occur on the items during the test and verification process.

The best price guarantee is valid when the customer can prove in written form that he/she has been offered a better price, compared to the price quoted by BullionStar, by a Singaporean company buying gold within seven days of selling the items to BullionStar. The offer by the competing company must be verifiable. Campaign prices are not valid for the comparison. Quotes for pawning items are not valid for the price guarantee as pawning does not constitute a sales order. BullionStar reserves the right to, instead of offering the customer the price difference, cancel the order by the customer returning any paid funds to BullionStar and BullionStar returning the items to the customer.

§ 6 – Payment

The customer can choose whether to get paid in cash, by cheque or by bank transfer. BullionStar reserves the right to pay to a bank account in specific circumstances. If BullionStar decides to change payment method and instead settle by bank account, BullionStar will always inform the customer beforehand.

Cash and Cheque payments are normally settled instantly whereas bank payments are normally initiated no later than the next banking day. BullionStar however reserves the right to initiate the payment within six banking days. If a payment is delayed more than one business day, it is BullionStar’s intention to communicate to the customer when the payment is estimated to be initiated.

The customer is responsible for supplying BullionStar with the correct bank account details in the case the funds are settled by bank transfer. BullionStar assumes no liability for incorrectly stated bank account details.

§ 7 – Agreement

The agreement between the customer and BullionStar is binding when the customer has accepted the price offered by BullionStar and BullionStar has taken possession of the items sold. The customer has no cancellation rights.

If items sold to BullionStar, at enhanced testing or at melting, are proven not to contain the weight or purity/karat of the stated metal specified on the purchase invoice or agreement by e.g. the metal being another metal than what was specified, or by the weight or purity deviating, BullionStar will pro-rate the calculation and demand the customer to pay back the resulting difference. BullionStar furthermore reserves the right to cancel an agreement where the items sold were subsequently proven not to contain the specified weight of the specified metal or differed in purity. In such cases, BullionStar demands full re-payment of the funds paid before returning the items to the customer.

§ 8 - Abuse

In case BullionStar suspects that a crime has been committed, BullionStar will report the suspected crime to the police. This includes theft, fraud or attempted fraud by e.g. a customer stating that an object contains gold, silver or platinum when the customer is aware that the items does not contain such metal at the stated purity.

§ 9 - General terms and conditions when selling to BullionStar

Messages sent by BullionStar to the customer via e-mail are deemed to be received by the customer within three working days of it being sent. Messages sent by BullionStar to the customer by mail are deemed to be received by the customer within five working days of it being sent.

Material published by BullionStar or communication with BullionStar must not be regarded as investment advice.

The value of precious metals is dependent on different economic factors outside BullionStar’s control such as but not limited to the fluctuating spot market price, demand, market sentiment, supply of metals, spot price premiums, production capacity etcetera.

BullionStar keeps customer information strictly confidential and does not share or sell customer information except if requested lawfully by authorities.

In the event of war, natural disaster, strike, civil unrest, terrorism, inability to obtain resources, actions of governing bodies, higher costs and similar events outside our control which could not be foreseeable, and affects this agreement or our promises, BullionStar shall not be liable under the agreement or for promises given. Adjustments, changes or non-delivery by BullionStar in regards to this agreement under these and similar circumstances of non-foreseeable events shall not be deemed a breach of this agreement.