- THIS DOCUMENT IS AN ELECTRONIC RECORD IN TERMS OF THEINFORMATION TECHNOLOGY ACT, 2000 AND RULES THEREUNDER ASAPPLICABLE AND THE PROVISIONS PERTAINING TO ELECTRONIC RECORDSIN VARIOUS STATUTES AS AMENDED BY THE INFORMATION TECHNOLOGYACT, 2000. THIS ELECTRONIC RECORD IS GENERATED BY A COMPUTERSYSTEM AND DOES NOT REQUIRE ANY PHYSICAL OR DIGITAL SIGNATURES.
- For the purpose of these Terms, wherever the context so requires, the term:
- “Customer” shall mean any individual, who as the counterparty transacts using the Platform for buying Gold (as defined below), taking delivery of Gold and/or selling back the Gold to DGIPL or any other buyer as outlined in these Terms.
- “Gold” shall mean 24 karat gold of 99.5% purity or higher, offered to the Customer by DGIPL under the brand name “SafeGold”.
- “Gold Account” shall mean the account created whether by You or otherwise, in accordance with these Terms.
- “Gold Account Information” shall mean the information provided by You for the purpose of creation of the Gold Account.
- “Customer Request” shall mean a Delivery Request, Sale Request or Exchange Request placed by You in relation to the Customer Gold.
- “Force Majeure Event” shall mean any event that is beyond the reasonable control of the DGIPL and shall include, without limitation, sabotage, fire, flood, explosion, act of God, civil commotion, strikes, lockouts or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, civil disturbances, unauthorised access to computer data and storage device, computer crashes, virus attacks, breach of security and encryption, and any other similar events not within the control of DGIPL and which DGIPL is not able to overcome.
- “Payment Instrument” shall mean any electronic or written cheque, draft, money order or other electronic or written instrument or order for the transmission or payment of money, whether or not the instrument is negotiable.
- “Person” shall mean an individual, a corporation, a partnership, a joint venture, a trust, an unincorporated organization and any other legal entity.
- "Platform" shall mean, and include, the mobile application and website by the name and style of “www.safegold.com”, that the Customer accesses for the transactions, including all contents, services and technology offered through the Platform.
- “Transfer” refers to a facility to transfer Gold from a Gold Account to another Gold Account.
- In addition to the terms defined in Section 2.1, additional terms used herein shall have the respective meanings assigned thereto in the relevant sections contained hereinafter.
- For the purpose of these Terms, wherever the context so requires, the term:
TERMS AND CONDITIONS OF SERVICES BEING PROVIDED BY DGIPL
- Digital Gold India Private Limited, a company incorporated under the Companies Act, 2013 with its registered office at 1902 Tower B, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai, Maharashtra 400013, ("DGIPL") will be selling gold and providing services of safe keeping/vaulting and delivery/fulfilment of gold and related services thereto to the Customers, on or through the Platform (“Services”).
- The Gold is being offered for purchase and/or sale by DGIPL under its brand name “SafeGold”. The Jeweller Partner is acting as a referrer in offering such Services to the Customer. The Services are being provided by DGIPL, however DGIPL may utilise any external Payment Gateway Service (“PG Service”) for facilitating the collection of payments for the Services on its Platform. The PG Service Provider assumes no liability for the Services except for providing payment services and Customer Support in addressing the queries related to payments made. Any and all of the transactions relating to the Services are being rendered by DGIPL in association with the Intermediaries (namely the Security Trustee and Vault Keeper) with whom separate agreements have been entered into by DGIPL.
- The Customers are advised to read and understand these Terms carefully before using the Services.
- The Services by DGIPL shall be provided for a term commencing from the date of creation of the Gold Account.
- You understand and acknowledge that the Services are being provided and made available on an “AS IS” and “AS AVAILABLE” basis. The Platform may contain errors or inaccuracies that could cause failures, corruption or loss of data and/or information from Your device and/or any device used by You to connect to the Platform as well as from peripherals (including, without limitation, servers and computers) connected to any of the above-mentioned devices. You assume all risks and costs associated with Your use of the Services and the Platform, including without limitation, any costs incurred for the use of Your device and any damage to any equipment, software or data.
- You confirm that you are not registered under the Goods and Services Tax Act, 2017 and that if, in the course of your relationship with DGIPL, you become registered under the Goods and Services Tax Act, 2017, you shall inform DGIPL of your change in status immediately, and provide any relevant information and documents, as may be requested.
SECURITY TRUSTEE, INTERMEDIARIES AND SAFE KEEPING ARRANGEMENT
Appointment of Intermediaries
- DGIPL or the Security Trustee (as the case may be) may from time to time appoint intermediaries who shall assist DGIPL in providing the Services to You (“Intermediaries”). The term, “Intermediaries” shall mean the Security Trustee, Vault Keeper and shall include any and all Persons appointed by DGIPL or the Security Trustee (as the case may be) upon placement of a Customer Order (and successful payment of monies in lieu thereof) till the consummation of the Customer Requests placed by You in accordance with these Terms. You hereby consent to the appointment of such Intermediaries, for and on Your behalf, by DGIPL or the Security Trustee (as the case may be).
- You acknowledge and understand that these Intermediaries have been appointed to ensure that Your Customer Orders/Customer Requests are duly complied with in accordance with these Terms. You additionally acknowledge that certain payments will have to be made to these Intermediaries for their appointment and services in relation thereto, which shall be borne by DGIPL on Your behalf unless otherwise indicated in these Terms.
Appointment of Security Trustee
- You hereby acknowledge and agree that in order to ensure that Your Customer Orders/Customer Requests are fulfilled in all circumstances, a first and exclusive charge on the Customer Gold by way of hypothecation will be created in favour of IDBI Trusteeship Services Limited or any successor Person (“Security Trustee”).
- By accepting these Terms, You further agree to accede to the terms for such arrangement with the Security Trustee (i.e., a security trustee agreement) and for creation of the charge over the Customer Gold by way of a deed of hypothecation or the like (collectively, “Security Trustee Agreements”). By clicking on “I Accept”, You acknowledge that You will accede to the Security Trustee Agreements (upon such date) as if You had been named as an original party to the same and had executed each of such Security Trustee Agreements; and will be bound by all the terms and conditions of the Security Trustee Agreements.
- In the event of any expenses or charges remaining payable to any Intermediaries or otherwise till actual delivery or fulfilment of any of Your Customer Orders/Customer Requests for any reason, including where DGIPL is unable to pay these expenses or charges for any reason whatsoever, thereby adversely effecting or jeopardizing the fulfilment of Your Customer Orders/Customer Requests, then the Security Trustee will be entitled to sell part of the Customer Gold and satisfy such outstanding expenses or charges as required in accordance with these Terms read with the Security Trustee Agreements. The sums due to You and/or gold to be delivered (as the case may be), after settling the aforementioned charges, would be dealt with in accordance with these Terms read with the Security Trustee Agreements.
- By way of these Terms, You authorize the Security Trustee to act on Your behalf to ensure that Your interests are adequately protected.
Safe Keeping/Vaulting of Gold
- Gold purchased by You corresponding to the Customer Order shall be stored with a custodian in a vault on Your behalf (“Vault Keeper”).
- The Gold stored shall be in the form of 24 Karat gold bars, i.e. at a minimum, equivalent to 99.5% purity, or higher. The total amount of gold stored shall be based on calculation of 24 Karat gold bars corresponding to the Customer Order, and the bars stored may be in purities of 99.5%, 99.9% or 99.99% or other terms.
- Illustration: if a customer purchases 1gm of 99.99% pure gold, at least 1.0049 gms of 99.5% purity gold will be stored for that customer in the vault.
- You hereby authorize (i) appointment of such Vault Keeper to safe keep the gold purchased; and (ii) DGIPL to store such gold products purchased by You, including, but not limited to, bullion, coins or jewellery (as the case may be) in the secured vault on Your behalf (“Customer Gold”). It is hereby clarified that Your purchase of the gold corresponding to the Customer Order shall be deemed to be completed and title in relation thereto shall be deemed to have been passed upon such relevant portion of the Customer Gold being stored in the vault with the Vault Keeper on Your behalf or upon a final invoice being issued by DGIPL in accordance with these Terms, subject to applicable laws.
- To ensure that the Customer Gold stored in such vault is adequately protected, necessary insurance policy/ies has been obtained by the Vault Keeper, where the cost of insurance to safe keep the same will be borne by the Vault Keeper. Pursuant to such insurance policy/ies, for any loss or damage to the Customer Gold stored in the vault, You further authorize the Security Trustee to act as Your beneficiary under the insurance policy/ies and to take all steps necessary to protect Your interests.
- While the Vault Keeper has taken the necessary insurance policy/ies, in case of occurrence of an event not covered in such insurance policy/ies, the Customer Gold may be at risk. The insurance policy/ies obtained by the Vault Keeper are in line with the global industry practices and cover losses due to fire, lightning, theft, cyclone, earthquake, flood, etc. but do not cover losses due to events such as war, revolution, derelict weapons of war, nuclear radiation, etc.
- Appointment of Intermediaries
TRANSFER OF GOLD
- DGIPL may offer You the ability to transfer your gold to another recipient, by means of the “gift” feature, or as part of another product function, such as exchanging Your gold balance for jewellery through the Jeweller Partner empanelled by DGIPL.
- It is clarified that for the purpose of all transactions completed through the Platform referred to you by the Jeweller Partner, You shall be restricted to transferring your gold for the purpose of the ‘Exchange for Jewellery’ feature, only through the Jeweller Partner. However, for all transactions completed directly through DGIPL’s own website (www.safegold.com), there shall be no such restriction.
- Any such transfer of gold from you to another recipient shall only be valid if exercised through a method or functionality offered by DGIPL.
- DGIPL may offer Customers the ability to gift Gold purchased by the Customer, to a recipient of their choice. This will be offered as the “gift gold” feature.
- DGIPL shall not be responsible for the acceptance or rejection of the “gift” by the intended Recipient, or for verifying the correctness of the mobile number or other identification information provided for the intended Recipient by the Customer.
- Gold gifts shall be final, and DGIPL shall not be responsible for amending, altering or otherwise reversing the transaction in case the gift is delivered to an unintended recipient due to any error on the part of the Customer.
- However, in case the intended Recipient does not accept the “gift” within the prescribed time, the gold balance shall revert to the Customer’s gold account.
Exchange for Jewellery:
- DGIPL may also offer Customers the ability to exchange their purchased gold for jewellery through a partnership with reputed jewellery chains (“Jeweller Partner”). This will be offered as part of the “exchange for jewellery” feature.
- Customers may opt for this functionality by following the procedure described by DGIPL. The transaction shall only be initiated upon the express instructions of the Customer to the Jeweller Partner.
- Customers will be sent an OTP by DGIPL to verify the transaction and confirm that they wish to proceed with the transfer of gold balance to the selected jeweller partner. By communicating the OTP to the Jeweller Partner, You agree to allow DGIPL to debit your gold account balance to the extent required for the purchase of your chosen jewellery product.
- Any additional charges for the jewellery product selected shall be borne by the Customer.
- Once a transaction has been deemed to be final and an invoice generated for the transaction, Customers shall not have the ability to cancel or request for a refund, unless specifically allowed by DGIPL or the Jeweller Partner.
STORAGE OF GOLD
You are required to take delivery of Your Customer Gold within such maximum period as shall be specified for this purpose by DGIPL from time to time on the Platform (“Maximum Storage Period”). For the purposes of making delivery to You, You are required to provide a valid address and/or any other documents/information/ biometric identification that may be specified in this regard by DGIPL from time to time. You may provide such address at any time during the Maximum Storage Period. In the event that no valid address has been provided by You during the Maximum Storage Period, then DGIPL shall, for a period 1 year commencing from the date of expiry of Maximum Storage Period (such period being the “Grace Period”), attempt at least once to contact You using the contact information provided by You to obtain either (i) an address to which You would require the gold in question to be delivered or (ii) Your bank account details into which sale proceeds of the Customer Gold shall be deposited. In the event that DGIPL has not been able to contact You during the applicable Grace Period using the contact information provided by You or where You shall during the Grace Period either fail to:
- (a) take delivery of the gold in question for any reason whosoever (including where You shall not have provided any address to take delivery of such gold); or
- (b) provide the details for a valid bank account into which the proceeds of any sale of such Customer Gold is to be deposited;
- You are required to take delivery of Your Customer Gold within such maximum period as shall be specified for this purpose by DGIPL from time to time on the Platform (“Maximum Storage Period”). For the purposes of making delivery to You, You are required to provide a valid address and/or any other documents/information/ biometric identification that may be specified in this regard by DGIPL from time to time. You may provide such address at any time during the Maximum Storage Period. In the event that no valid address has been provided by You during the Maximum Storage Period, then DGIPL shall, for a period 1 year commencing from the date of expiry of Maximum Storage Period (such period being the “Grace Period”), attempt at least once to contact You using the contact information provided by You to obtain either (i) an address to which You would require the gold in question to be delivered or (ii) Your bank account details into which sale proceeds of the Customer Gold shall be deposited. In the event that DGIPL has not been able to contact You during the applicable Grace Period using the contact information provided by You or where You shall during the Grace Period either fail to:
- If performance under these Terms is prevented, restricted, delayed or interfered with by reason of labour disputes, strikes, acts of God, floods, lightning, severe weather, shortages of materials, rationing, inducement of any virus, Trojan or other disruptive mechanisms, any event of hacking or illegal usage of the Platform, utility or communication failures, earthquakes, war, revolution, acts of terrorism, civil commotion, acts of public enemies, blockade, embargo or any law, order, proclamation, regulation, ordinance, demand or requirement having legal effect of any government or any judicial authority or representative of any such government, or failure of any device used to access the Platform, or any other act whatsoever, whether similar or dissimilar to those referred to in this section, which are beyond the reasonable control of DGIPL and could not have been prevented by reasonable precautions then DGIPL shall be discharged from such performance to the extent of and during the period of such force majeure event. Such non-performance by DGIPL shall, in no manner whosoever, amount to a breach of its obligations herein.
TERMINATION OF SERVICES BY DGIPL
These Terms shall further stand terminated:
- if DGIPL is adjudged bankrupt or declared insolvent;
- if DGIPL ceases to carry on its business or has communicated to the Security Trustee any intention to cease to carry on its business;
- if DGIPL breaches any of the terms and conditions under the Security Trustee Agreements or Terms and DGIPL does not remedy such breach within 60 (Sixty) days of being called upon to do so by the Security Trustee;
- upon any corporate action (excluding any third party corporate action), legal proceedings or other procedures or steps being taken in relation to the suspension of payments, winding up, dissolution, administration, provisional supervision or reorganization or restructuring (by way of voluntary arrangement, scheme of arrangement or otherwise) of DGIPL;
- upon DGIPL commencing a voluntary proceeding under any applicable bankruptcy, insolvency, winding up or other similar applicable law now or hereafter in effect, or consenting to the entry of an order for relief in an involuntary proceeding under any such applicable law, or consenting to the appointment or taking possession by a receiver, liquidator, assignee (or similar official) for the whole or a substantial part of its property or takes any action towards its re-organization, liquidation or dissolution;
- upon an order being made for the winding up, bankruptcy or dissolution of DGIPL, or an application is admitted for initiating any corporate insolvency resolution process against DGIPL in accordance with Applicable Law;
- upon any encumbrancer lawfully taking possession, or a liquidator, judicial custodian, receiver, administrative receiver or trustee or any analogous officer having been appointed in respect of the whole or a substantial part of the property of DGIPL, or an attachment, sequestration, distress or execution (or analogous process) being levied or enforced upon or issued against whole or a substantial part of the assets or property of DGIPL, or any action has been taken or suffered against DGIPL towards liquidation or dissolution or similar reorganization; or
- upon a liquidator or provisional liquidator being appointed to DGIPL or a receiver, receiver and manager, trustee or similar official being appointed in respect of DGIPL or any of its assets, or an event analogous.
- Upon the happening of any of the events referred to in Section 7.2, and where there is any insufficiency of DGIPL funds required to pay any costs and expenses to be incurred in relation to providing delivery of Your Customer Gold to You, then in such an event You do hereby authorise the Security Trustee to sell any part of the Customer Gold, that is necessary or required to defray such costs and expenses.
Pursuant to the Security Trustee Agreements, DGIPL has created a charge by way of hypothecation in favour of the Security Trustee for the benefit of the Customers over: (a) the monies lying in the Collection Account from time to time; and (b) gold purchased by DGIPL from time to time and lying with the Vault Keeper or in transit and, which is the property of DGIPL; (collectively “Security”). Upon the occurrence of any of the events detailed in Section 7.1 and 7.2, the Security Trustee under the Security Trustee Agreements is to: (i) declare all outstanding amounts as due and payable to the Security Trustee forthwith; and (ii) take charge and/or possession of, seize, recover, receive and remove the Security and use the same to discharge any liability of DGIPL to the Customers. You however expressly understand and acknowledge that any enforcement of the Security would always be subject to and undertaken in accordance with the provisions of Applicable Law and therefore:
- it is not possible to accurately predict the time required to make any such distribution; and/or
- the amount received by You from such distribution may not be sufficient to completely extinguish DGIPL’s liability to You;
CONSEQUENCES OF TERMINATION OF SERVICES BY DGIPL
Upon such termination for any reason whatsoever, subject to these Terms read with the Security Trustee Agreements:
- Fractional amounts for gold holdings of less than 0.5 (One half) gram may be sold and cash in pursuance thereto will be sent directly to Your bank account, after deducting all the requisite charges relating to appointment of Intermediaries (including but not limited to charges due and payable to Intermediaries and any other out of pocket expenses, custody charges, minting and delivery charges) (“Charges”).
- For larger gold holdings, the Security Trustee shall (to the extent You have not already paid for all the Charges) be allowed to sell part of Your gold to pay for all the Charges to all the Intermediaries. The remaining portion of the gold shall be delivered to You in accordance with these Terms, along with the details of the deductions made and the quantum of gold that You are entitled to receive.
- You acknowledge that the termination of Your access to the Platform and Services may be affected without any prior notice, and the Gold Account may be immediately deactivated or deleted and all related information and/or bar any further access to the Gold Account, the Platform or the Services. Further, You agree that DGIPL shall not be liable for any discontinuation or termination of Services by any third party.
- None of Your content shall remain accessible on the Platform upon termination. This information cannot be recovered by You, once the account is terminated.
- The disclaimer of warranties, the limitation of liability, and the governing law provisions shall survive any termination of these Terms.
- Upon such termination for any reason whatsoever, subject to these Terms read with the Security Trustee Agreements:
GOVERNING LAW AND DISPUTE RESOLUTION
- These Terms shall be governed by and interpreted and construed in accordance with the laws of India. The courts of Mumbai shall have exclusive jurisdiction over any disputes arising under these Terms. In the event of any dispute arising out of these Terms the same shall be settled by a binding arbitration conducted by a sole arbitrator, appointed jointly by both parties and governed by the Arbitration and Conciliation Act, 1996. The venue of arbitration shall be Mumbai, Maharashtra, India.
CREATION OF GOLD ACCOUNT AND REGISTRATION OBLIGATIONS
- Before availing the Services, the Customer shall complete registration process as may be prescribed from time to time. The Customer shall follow the instructions given in the Platform for opening a Gold Account. DGIPL shall be entitled to collect and store relevant information and documents provided by the Customer to the Platform for KYC purposes. As and when required by DGIPL, the Customer will be required to provide additional documents for fulfilling the KYC requirements. You authorize DGIPL to make such enquiries as may be necessary to satisfy about the validity of your identity. You shall be responsible for the correctness of information provided to DGIPL. If You have reasons to believe that there is an error in the information furnished by You, You shall immediately provide correct / updated information. DGIPL reserves the right to share such information with the Jeweller Partner, in order to facilitate or provide Services, under these Terms, to you.
- DGIPL reserves the right to terminate any Gold Account, with or without notice to You, in the event the KYC documents / information are found to be incorrect or authenticity of the documents / information is found to be doubtful. You hereby undertake to indemnify and keep indemnified DGIPL against any and all losses, claims, liabilities costs etc. which arise out of or relating to Your failure to identify Yourself and validate Your account promptly and / or due to incorrect KYC documents / information.
Know Your Customer (KYC) and Verification
- Prior to placing an order, You may be required to provide certain KYC documentation and other information as may be required by DGIPL in such form and manner as it may deem fit. This information may be requested from you at the time of registration, or at a later stage.
- Once such documentation and other information is provided by You, You shall be entitled to place an order on the Platform (“Customer Order”).
- You agree that Your continued use of the Platform, consequent upon the creation of the Gold Account, is subject to verification by DGIPL of the information and documentation provided by You. You hereby grant DGIPL permission to conduct such verification, in such form and manner as it may deem fit.
- You will be responsible for maintaining the confidentiality of the Gold Account Information, and shall be fully responsible for all activities that occur under the Gold Account. You agree to immediately notify DGIPL of any unauthorised use of the Gold Account Information or any other breach of security. DGIPL cannot and will not be liable for any loss or damage arising from Your failure to comply with this section. You may be held liable for losses incurred by DGIPL or any user or visitor of the Platform due to authorised or unauthorised use of the Gold Account, as a result of your failure in keeping the Gold Account Information confidential.
- You shall ensure that the Gold Account Information provided by You in the registration form is complete, accurate and up-to-date. Use of another Customer’s account information for availing of any of the Services and/or for use of the Platform is expressly prohibited.
- You agree that if You provide any information that is untrue, inaccurate, not current or incomplete, (or becomes untrue, inaccurate, not current or incomplete) or if DGIPL has reasonable grounds to suspect that such information is untrue, inaccurate, not current, incomplete, or not in accordance with these Terms, DGIPL shall have the right to indefinitely suspend or terminate or block access to the Gold Account on the Platform and refuse to provide You with access to the Platform.
PURCHASE OF GOLD
- You can offer to buy Gold worth Rs.1.00 (Rupee One Only) and above incremental value thereof at the market linked prices of gold shown on the Platform. Market linked prices means that these quotes are linked to the prices of gold in the commercial bullion market in India.
- It is hereby clarified that such market linked prices of gold shall constitute fully binding offers and would be an invitation to offer to purchase gold at the said market prices to all Customers. Notwithstanding the foregoing, You understand that these prices may vary multiple times within a day, and accordingly Your payment obligations for any order will depend on the market linked prices then prevailing. While reasonable efforts will be made to offer You a competitive price for the Customer Gold, there is no guarantee that the price offered to You will be close to or comparable with other prices available in the market.
- Payment will be accepted through the payment options made available on the Platform, which may include redirection to a Payment Gateway hosted by other third party website or platform, including by DGIPL. At the time of purchase / fulfilment / sale-back / transfer of Gold, the relevant taxes will be chargeable as applicable as per the Government regulations. It is hereby clarified that once a Customer Order is placed, You are not entitled to cancel a Customer Order, provided however that a Customer Order shall stand cancelled if the payment fails for any reason whatsoever.
- DGIPL reserves the right to cancel a Customer Order, at its sole discretion, if Your information, provided prior to placing the Customer Order, is not found acceptable and DGIPL is of the opinion that You are not eligible to purchase gold. The Gold Account shall accordingly stand amended. DGIPL shall have the right to freeze the Gold Account until it receives KYC and other documentation in a form and manner satisfactory it.
- Once the payments are received by DGIPL and the KYC information, if requested, is found acceptable, DGIPL shall issue an invoice to You confirming the Customer Order placed within a period of 3 (Three) business days of placing such order, in a manner it may deem fit.
- Notwithstanding anything to the contrary contained in these Terms, DGIPL shall be entitled to accept or reject a Customer, for any reason whatsoever, at its sole discretion.
- In case of rejection of a Customer Order in accordance with these Terms, where payments have been received by DGIPL, such payments shall be returned to You to the bank account linked to your account, subject to the terms and conditions indicated on the Platform.
DELIVERY OF GOLD
- This Platform offers Services for Customers who wish to procure delivery of the Customer Gold in accordance with these Terms.
- You shall be entitled to procure delivery of the Customer Gold using the Platform (“Delivery Request”).
- Upon placing the Delivery Request, You shall be required to pay for the applicable charges and confirm the Delivery Request. Your Gold Account shall be provisionally debited corresponding to the quantity of the Customer Gold sought to be delivered (“Delivered Customer Gold”).
- Within a period of 7 (Seven) business days of the Delivery Request being confirmed or such further period as may be required by DGIPL, DGIPL shall arrange for delivery of the Delivered Customer Gold at the shipping address indicated by You. You shall be solely responsible for ensuring that the correct address is furnished by You on the Platform for processing such Delivery Request. You shall not be entitled to change the shipping address after the Delivery Request is processed by DGIPL.
- You should carefully examine the package delivered and shall not accept deliveries where the packaging has been tampered with. If, however, You are of the view that the package delivered has been tampered with, You shall be required to intimate DGIPL immediately of the same, and provide such other information as may be required by DGIPL in this regard (“Return Request”). Within a period of 14 (Fourteen) business days of the original package of Delivered Customer Gold being delivered back to DGIPL, in a manner indicated by DGIPL, and the Return Request being approved by DGIPL, DGIPL shall arrange for re-delivery of the Delivered Customer Gold at the shipping address indicated by You. The costs for such shipping shall be borne by DGIPL. However, in the event of frivolous and unjustified Return Requests made by You, and/or DGIPL reserve the right to take all action available to it, including black-listing or blocking You from using the Services on the Platform.
- You, upon signing the delivery receipt, acknowledge the receipt of the Delivered Customer Gold in terms of the Delivery Request placed with DGIPL. DGIPL shall not be liable to You for any refund/replacement, under any circumstance, for any subsequent complaints with respect to such deliveries and/or any failure on your part (as the case may be) to comply with these Terms.
- Upon receipt of the Delivery Request by DGIPL, the Gold Account shall be debited for the Delivered Customer Gold from the Gold Account.
- It shall be Your responsibility to ensure that You are available to receive the Delivered Customer Gold at the time of delivery. If You are not available at the time of delivery, DGIPL courier agent may try and deliver the item again before returning the same to DGIPL. In case of return of the Delivered Customer Gold to DGIPL, Gold Account shall be credited for the Delivered Customer Gold, after deducting the charges (if any) due from You, provided however that DGIPL is of the opinion that the packaging has not been tampered with. It is hereby clarified that should a request for re-delivery be made by You, You shall be solely liable to incur the applicable charges for delivering the Delivered Customer Gold.
- In case of DGIPL’s inability to make deliveries of Delivered Customer Gold due to a Force Majeure Event, DGIPL shall intimate You of the same and may require that the deliveries be effectuated through specific modes. In such a case, You hereby agree to bear any additional costs and fees necessary for the delivery to be complete.
- DGIPL will not be able to deliver a fractional quantity of gold below such threshold as DGIPL shall notify for this purpose even if a Customer Request is made for such fractional quantity (“Threshold Quantity”). You are advised to check the Platform periodically to determine the Threshold Quantity as the same may be revised from time to time. In the event that any Gold below the Threshold Quantity is to be delivered to you, then please note that such Customer Gold shall instead be sold by DGIPL based on the sale prices displayed on the Platform and You will instead receive the applicable sale proceeds in Your bank account, details of which are provided by You. If there is any mistake in the account number provided by You, DGIPL would not be held responsible for the same.
- Notwithstanding anything to the contrary contained in these Terms, DGIPL shall be entitled to reject a Customer Request which is not in compliance with the Terms hereof, and shall intimate the Customer of the reasons for the same.
- Based on the changes made to the Gold Account (in lieu of the Customer Orders and/or Customer Requests), if You are of the opinion that the changes made thereto do not tally with the orders and/or Customer Requests placed by You, You may contact DGIPL at firstname.lastname@example.org, who shall accordingly take all necessary actions for taking care of any such identified discrepancies.
- It is hereby clarified that the Customer Gold cannot be pledged or transferred by You to any other user, and the Gold Account is non-transferrable, unless specifically allowed by DGIPL. In the event of Your death, if specifically allowed by DGIPL, the title to such Customer Gold lying in the vault and the Gold Account shall transfer to Your legal heirs only after the required due diligence has been conducted. Subsequent to this, Your legal heir(s) shall be regarded as the Customer for the purpose of the Customer Gold and Gold Account thereafter and the Terms shall be applicable to Your legal heir(s).
- It is hereby clarified that the Platform displays articles that are available for shopping. Some items may appear slightly larger or smaller than actual size due to screen defaults and photography techniques. DGIPL shall not be liable for any legal action on this account. It shall be DGIPL’s endeavour to ensure that all details regarding the product are clearly displayed on the Platform.
- Due to reasons not directly attributable to DGIPL, data may be inaccurately displayed on the Platform due to some system errors on the Platform or any device used to access the Platform. DGIPL reserves the right to correct any and all errors when they do occur, at its sole discretion, and DGIPL shall be entitled to not honour any requests/orders placed by You based on any inaccurate or erroneous prices.
- The prices quoted on the Platform are fixed and not negotiable. The prices on the Platform are also subject to change without notice to You.
SALE OF CUSTOMER GOLD
You may be provided an option to sell the Customer Gold during market hours based on the sale prices on the Platform. If the prices are found acceptable to You, You shall confirm the sale request, in a form and manner acceptable to DGIPL (“
Sale Request”). Your Gold Account shall be debited corresponding to the quantity of the Customer Gold sought to be sold vide the Sale Request (“Sold Customer Gold”).
- Within a period of 2 (Two) business days of the Sale Request being confirmed or such further period as may be required, the payment, pursuant to the Sale Request, shall be disbursed by DGIPL at the sale prices indicated at the time of placing such Sale Request. DGIPL shall arrange for such payments to be made to Your bank account, details of which are provided by You. If there is any mistake in the account number, IFSC code etc. provided by You, DGIPL would not be held responsible for the same.
- It is hereby clarified that DGIPL will provide this service on a best efforts basis and only when the commercial bullion market is in operation. DGIPL does not in any way guarantee that this option will be available to You at all times. Further, the buyer of the Sold Customer Gold may be either DGIPL or another party (being interested in buying the Sold Customer Gold). DGIPL shall not be held liable for any actions of such third-party purchaser, apart from ensuring that funds are received on account of the sale of Your gold.
- You will be provided with free storage for your Customer Gold for 5 years, or for such period as more particularly stipulated by DGIPL in this regard from time to time at its sole discretion and notified to Customers on the Platform (“Free Storage Period”). After the expiry of the Free Storage Period, DGIPL shall be entitled to levy storage charges for such Customer Gold at such rate as would be specified on the Platform, and which may be revised from time to time. The charges would be levied by deducting the gold balance at the end of each month by a percentage amount at the specified rate. You are advised to periodically check the Platform to understand these storage charges. In the event, DGIPL is not able to deduct the storage charges because Your gold balance is too low, then DGIPL shall be entitled to sell such portion of Your Customer Gold stored with the Vault Keeper that is necessary or required to recover the unpaid storage charges in question.
- While reasonable efforts will be made to offer You a competitive price for the Customer Gold, there is no guarantee that the price offered to You will be close to or comparable with other prices available in the market.
- You may be provided an option to sell the Customer Gold during market hours based on the sale prices on the Platform. If the prices are found acceptable to You, You shall confirm the sale request, in a form and manner acceptable to DGIPL (“
- The Customer should take care not to share their mobile wallet details, personal UPI pin or OTP (“Payment Information”) with any third party intentionally or unintentionally. The Company never solicits Payment Information over a call or otherwise. The Company/Platform/Third Party Services/Payment Gateway partners shall not be liable for any fraud due to the sharing of such details.
- In the event that an individual’s Payment Information or Payment Instrument is fraudulently utilised to purchase gold on the Platform (“Fraudulent Transaction”) from DGIPL, then the Company may share relevant information of such transaction if the victim approaches the Company via proper channels including DGIPL’s customer support number and email (email@example.com), along with supporting documentation from the relevant public authority or Cyber Cell.
In the event that DGIPL and/or the Platform Partner have flagged any transaction or Customer account as suspicious as per their internal guidelines, or where it is found that a Customer has utilised Payment Information or a Payment Instrument in an unauthorised or fraudulent manner to purchase gold or undertake any other transaction on the Platform (Fraudulent User), DGIPL and/or the Platform Partner shall be entitled to:
- request further KYC information or other documentation from the User to verify the flagged transaction;
- pending further verification, block such Fraudulent User, and/or freeze any accounts associated with them;
- reverse any such Fraudulent Transaction, to the extent possible, including the sale of any gold purchased by such Fraudulent User, at the prevailing rate;
- provide information on such Fraudulent User, along with any other transaction details, to the relevant authorities.
- In the event of a Fraudulent Transaction as per Clause 15.2, DGIPL shall make a reasonable effort to assist the victim in recovering their funds, subject to supporting evidence and documentation being provided upon request. DGIPL shall be entitled to transfer the victim’s funds, less any payment gateway charges that are not refunded by third party payment service provider or bank.
- However, it is clarified that DGIPL shall not obligated to reverse any transaction where the Fraudulent User has already sold the gold purchased through the Fraudulent Transaction, and received the funds against such sale; or where the fraudulent User has chosen to take delivery of the gold so purchased. In this event, DGIPL shall, to the best of its ability, provide any information on the fraudulent User, including the bank account or Mobile Wallet account to which funds have been settled, or the physical address to which the gold has been delivered, to the victim or the relevant authorities.
16. USE OF THE PLATFORM AND SERVICES
- You acknowledge that the Services are for Your personal use and agree not to publish the gold prices or descriptions of gold and/or any other information displayed on the Platform (in lieu of Your access to the Platform) on any other medium. You shall not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information, software, products or services obtained from the Services.
- DGIPL shall not be held liable for any loss of data, technical or otherwise, information, or for particulars supplied by You, due to the reasons beyond its control like corruption of data or delay or failure to perform as a result of a Force Majeure Event.
- DGIPL shall have the sole discretion to determine the locations and pin codes it may want to serve.
- The provision of Services may be interrupted, including for maintenance, repairs, upgrades, or network or equipment failures. DGIPL strives to keep the Services up and running; however, all online services suffer occasional disruptions and outages. DGIPL is not liable for any disruption or loss You may suffer as a result.
- DGIPL may discontinue some or all of the Services, including certain features and the support for certain devices and platforms, at any time.
SUSPENSION / CLOSURE OF GOLD ACCOUNT
- DGIPL may, at its discretion, suspend Gold Account of Customers, if there appears to be a fraudulent or suspicious activity in the account. If DGIPL is of the opinion that You are involved in any unlawful activity or the Gold Account is used for any unlawful purpose, DGIPL shall have the right to take all actions available to it, including black-listing or blocking You from using the Services on its Platform or blocking Your access to the Services through the Platform or intimating the relevant authorities of such unlawful activities.
- DGIPL shall not be held liable / responsible, in any manner whatsoever, for any loss / liability arising out of or relating to any technical failure / issue in Platform and / or acts / omission not attributable to it.
- You shall inform immediately, in any case no later than 10 (ten) days of the transaction, of any irregularities or discrepancies that may exist in Your Gold Account, failing which it shall be deemed that there is no error or discrepancy in the account. All records maintained by DGIPL, in electronic or documentary form of the instructions of the Customer and such other details (including, but not limited to payments made or received) pursuant to the Terms, shall as against the Customer, be deemed to be conclusive evidence of such instructions.
- You hereby agree that You shall be liable for all fees and charges associated with the use of the Platform and Services. Further, details of the fees payable (including, but not limited to the terms pertaining to such fees and the quantum thereof), have been set out on the Platform. Please note that the fees and charges may be revised from time to time and it would be Your responsibility to view the Platform to check the then current fees and charges payable.
- It is hereby clarified that fees and charges, once paid, are non-refundable.
- All payments made for the use of the Platform and/or purchase of Customer Gold by You shall be compulsorily in Indian Rupees.
While availing any of the payment method/s available on the Platform for availing the Services, DGIPL shall not be responsible for or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to You due to:
- Lack of authorization for any transaction(s), or
- Exceeding the preset limit mutually agreed by You and between bank/s and/or other institutions used by you in making payment, or
- Any payment issues arising out of the transaction, or
- Rejection of transaction for any other reason(s) whatsoever.
- DGIPL may temporarily/permanently suspend/terminate the Gold Account or refuse access in case of non-payment of fees due by You. Without limitation to the other rights and remedies available to DGIPL, it also reserves the right to take legal action for the same.
- Use of the Platform and/or the Services is available only to Persons who can enter into legally binding contracts under the Indian Contract Act, 1872 and to Persons resident in India. Persons who are "incompetent to contract" within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents and persons of unsound mind are not eligible to use the Platform or the Services. Any person under the age of 18 shall not register on the Platform and shall not transact on or use the Platform in relation to or for any Services. DGIPL reserves the right to terminate any Person’s membership and/or refuse to provide such Person with access to the Platform and/or any Services if it is brought to DGIPL’s notice or if it is discovered that such Person is not eligible to use the Platform and/or any Service.
ABSENCE OF RELATIONSHIP
- You represent and warrant to DGIPL that you have sufficient experience and knowledge to make informed decisions to purchase / sell Gold. You acknowledge that you have not relied on any information made available by DGIPL and that DGIPL is not making any recommendation with respect to such purchases / sale-back of Gold. No relationship other than seller-purchaser, including, without limitation, any agent-principal relationship, any advisor-advisee relationship, any employee-employer relationship, any franchisee-franchisor relationship, any joint venture relationship or any partnership relationship, exists between you DGIPL.
- You acknowledge that DGIPL is not providing / dealing in / offering any investment product and does not offer any guarantee / assured returns. You further acknowledge that value of Gold may vary depending on various factors and forces.
ELECTRONIC ORDER RISKS
- Commercial internet service providers are not 100% reliable and a failure by one or more of these providers may affect internet-based order entry. You acknowledge that the order entry system is an electronic mechanical system and as such may be subject to failure beyond the control of DGIPL. Therefore, DGIPL shall not be responsible for errors, negligence, inability to execute orders, delays in transmission, delivery or execution of order due to breakdown or failure of transmission or communication facilities (including in any device used to connect to the Platform), or to any other cause beyond DGIPL’s control or anticipation.
- The Platform may allow You to post Your review and experience of using the Platform ("Reviews") in order to improve the Platform and the user experience.
- You, being the originator of the Reviews, are responsible for the Reviews that You upload, post, publish, transmit or otherwise makes available on the Platform. You represent that all such Reviews will be in accordance with applicable law. You acknowledge that DGIPL does not endorse any Reviews on the Platform and is not responsible or liable for any Reviews. DGIPL reserves the right to disable access to the Reviews on the Platform.
- You hereby grant DGIPL a perpetual, non-revocable, worldwide, royalty-free and sub-licensable right and license to use, copy, distribute, display, publish, transmit, make available, reproduce, modify, adapt the Reviews in any manner as deemed appropriate by DGIPL in any form including but not limited to print, broadcast, online and across any and all websites and platforms owned by DGIPL.
- You further represent and warrant that while posting any Reviews on the Platform You shall not use any offensive, libellous, derogatory, hateful or racially or ethnically objectionable language. Further, You shall not post any content on any part of the Platform that is obscene, pornographic, constitutes an “indecent representation of women” as provided in the Indecent Representation of Women (Prohibition) Act, 1986.
CONTENT AND INTELLECTUAL PROPERTY RIGHTS
- DGIPL solely and exclusively owns respective copyrights, trademarks, service marks, logos, trade names, and other intellectual and proprietary rights associated with the Services provided by DGIPL and displayed on/accessed on the Platform and is protected under Indian law.
- You hereby acknowledge that the Services constitute original works and have been developed, compiled, prepared, revised, selected, and arranged by DGIPL respectively through the application of methods and standards of judgment developed and applied through the expenditure of substantial time, effort, and money and constitutes valuable intellectual property of DGIPL and such others. You thereby agree to protect the proprietary rights of DGIPL during and after the term of these Terms. You may not selectively download portions of the Platform without retaining the copyright notices. You may download material from the Platform only for the purpose intended by these Terms.
- Any infringement shall lead to appropriate legal proceedings against You at appropriate forum for seeking all available remedies under applicable laws of the country.
LINKS TO/FROM THIRD-PARTIES' WEBSITES/APPLICATIONS
- The Platform may contain links and interactive functionality interacting with the websites of third parties. DGIPL is not responsible for and does not have any liability for the functionality, actions, inactions, privacy settings, privacy policies, terms, or content of any such websites. Before enabling any sharing functions to communicate with any such website or otherwise visiting any such website, DGIPL strongly recommends that You review and understand the terms and conditions, privacy policies, settings, and information-sharing functions of each such third-party website.
- You hereby agree to indemnify and keep the DGIPL indemnified from and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses, directly or indirectly, whatsoever (“Losses”) which DGIPL and/or its employees, agents, workers or representative may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of: (i) the usage of the Platform and/or any device used by the Customer to access the Platform; (ii) by reason of DGIPL acting in good faith and taking or refusing to take or omitting to take action on the Customer's instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of the Customer; (iii) breach or non-compliance of the Terms and relating to the Gold Account; and/or (iv) fraud or dishonesty relating to any transaction by the Customer.
DISCLAIMER OF WARRANTIES
- ALL INFORMATION, CONTENT, MATERIALS AND SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THE PLATFORM (COLLECTIVELY, THE "CONTENTS") ARE PROVIDED BY DGIPL ON AN "AS IS," "AS AVAILABLE" BASIS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND. DGIPL MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE OPERATION OF THE PLATFORM, THE ACCURACY OR COMPLETENESS OF THE CONTENTS AND THE ACCURACY OF THE INFORMATION. DGIPL SHALL HAVE NO RESPONSIBILITY FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY CONTENT, MATERIALS, DOCUMENT OR INFORMATION OR ANY OTHER LOSSES INCURRED BY YOU FOR USE OF THE PLATFORM. YOU EXPRESSLY AGREE THAT THE USE OF THE PLATFORM IS AT YOUR SOLE RISK. DGIPL WILL NOT BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM THE USE OF THE PLATFORM OR THE SERVICES OR THE CONTENTS INCLUDING, WITHOUT LIMITATION, DIRECT, INDIRECT, CONSEQUENTIAL, PUNITIVE, AND CONSEQUENTIAL DAMAGES, UNLESS OTHERWISE SPECIFIED IN WRITING. TO THE FULL EXTENT PERMITTED BY LAW, DGIPL DISCLAIMS ANY AND ALL REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE PLATFORM (OR ANY PART THEREOF) AND ITS CONTENTS, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF TITLE, MERCHANTABILITY, AND FITNESS FOR A PARTICULAR PURPOSE OR USE.
LIMITATION OF LIABILITY
- You hereby acknowledge that DGIPL (including but not limited to its, directors, employees, agents or partners) shall not be held liable to You for any special, consequential, incidental, and exemplary or punitive damages, or loss of profit or revenues. DGIPL shall also not be liable under any circumstances for damages arising out or related in any way to Your inability to access, or Your difficulty in accessing the Platform to avail of any Services, any bugs, viruses, trojan horses, or the like, which may be transmitted to or through the Platform by any third party, any loss of Your data, any claim relating to Your data or content from the Services and/or Your failure to keep the Gold Account Information secure and confidential. You further agree that DGIPL shall not be held responsible in any manner whatsoever for any and all acts or omissions of any Intermediaries or any other third party whosoever including (but not limited to) any person whose device has been used by You to access the Platform and/or any person appointed/nominated for the purposes of accepting/collecting any payments from You for the purchase of Gold.
GRIEVANCE REDRESSAL MECHANISM
In accordance with the Information Technology Act, 2000 and Rules made thereunder:
the contact details of Grievance Officer for the purposes of DGIPL are:
Name: Rukhsar Khan
E-mail ID: firstname.lastname@example.org
Address: 1902B Peninsula Business Park, G.K. Marg, Lower Parel, Mumbai 400013
- the contact details of Grievance Officer for the purposes of DGIPL are:
- In accordance with the Information Technology Act, 2000 and Rules made thereunder:
AMENDMENTS, ACCEPTANCE OF TERMS
- DGIPL reserve the right, to change, modify, add or remove portions of these Terms at any time. Such changes shall be posted on the Platform and shall be notified to the Customer prior to making such changes. Notwithstanding anything to the contrary, Customer shall be responsible for regularly reviewing the Terms, including amendments thereto as may be posted on the Platform and shall be deemed to have accepted the amended Terms by continuing the use of Platform.
- You may not use the Platform or avail yourself of the Services if You do not accept the Terms or are unable to be bound by the Terms. As a condition of Your access to and use of the Platform or the provision of any Services to You using the Platform, You agree that You will comply with all applicable laws and regulations when using the Platform. If DGIPL is of the opinion that the Gold Account is being used by You for any unlawful purpose, DGIPL shall have the right to take all actions available to it, including black-listing or blocking You from using the Services through the Platform or intimating the relevant authorities of such unlawful activities.