Terms & Conditions of Purchase
These Terms & Conditions of Purchase (“Terms”) apply when Fine Gold Bullion Inc. (“Fine Gold Bullion,” “FGB,” “we,” “us,” or “our”) purchases gold, silver, platinum, palladium or other precious metals from an individual or entity (“Seller,” “you,” or “your”).
By selling or offering precious metals to Fine Gold Bullion, you acknowledge that you have read, understood and agreed to these Terms.
Fine Gold Bullion operates from its location in Mississauga, Ontario, Canada.
1. Definitions
For the purposes of these Terms:
Fine Gold Bullion or FGB means Fine Gold Bullion Inc., acting as the purchaser of precious metals.
Seller, You or Your means the individual or entity offering or selling precious metals to Fine Gold Bullion.
Precious Metals includes gold, silver, platinum, palladium and other precious-metal products or materials that Fine Gold Bullion may agree to purchase, including applicable bars, coins, jewellery, scrap and other precious-metal-bearing materials.
Market Price means the applicable market price of a precious metal at a particular time. Precious metal market prices fluctuate continuously.
Purchase Price means the amount Fine Gold Bullion offers to pay for a particular precious metal product or material after considering the applicable factors relevant to its evaluation.
2. Eligibility to Sell Precious Metals
You must be at least 18 years of age and legally capable of entering into a transaction with Fine Gold Bullion.
If you are selling precious metals on behalf of a corporation, partnership, trust or another person or entity, you represent that you have the legal authority to conduct the transaction.
Fine Gold Bullion may request documentation establishing your identity, ownership or authority before completing a transaction.
3. Ownership and Authority to Sell
By offering precious metals to Fine Gold Bullion, you represent that you are the lawful owner of the items or are legally authorized by the lawful owner to sell them.
You further represent that, to the best of your knowledge, the items:
- Are not stolen
- Were not obtained through fraud or other unlawful activity
- Are not subject to an undisclosed lien, security interest or ownership claim
- Are not being sold in connection with unlawful activity
- May legally be sold by you
Fine Gold Bullion may decline a transaction, request additional information or documentation, or take other appropriate action if ownership or authority to sell cannot be satisfactorily established.
4. Precious Metals We May Purchase
Fine Gold Bullion may purchase various forms of precious metals, including eligible:
- Gold
- Silver
- Platinum
- Palladium
- Bullion bars
- Bullion coins
- Jewellery
- Scrap precious metals
- Other precious-metal-bearing products or materials
Acceptance of any item is subject to Fine Gold Bullion’s inspection, testing, authentication and purchasing requirements.
Fine Gold Bullion is not obligated to purchase every item presented for evaluation.
5. How Purchase Prices Are Determined
Precious metal prices fluctuate continuously. The amount Fine Gold Bullion offers for an item may be based on factors including:
- Type of precious metal
- Weight
- Purity or fineness
- Current precious metal market price
- Product type
- Mint, refiner or manufacturer, where applicable
- Condition and authenticity
- Market demand and liquidity
- Refining or processing requirements, where applicable
- Fine Gold Bullion’s applicable purchasing rate
A final purchase price will be provided after the item has been evaluated and, where necessary, tested.
6. Market or Spot Price Is Not a Guaranteed Purchase Price
The market or spot price of gold, silver, platinum or palladium should not be interpreted as a guaranteed purchase price for your items.
The price Fine Gold Bullion offers may differ from the market or spot price based on the characteristics of the item, purity, product type, condition, marketability, processing requirements and Fine Gold Bullion’s applicable purchasing rate.
Displaying a precious metal market price on our website does not constitute an offer by Fine Gold Bullion to purchase any particular item at that price.
7. Quotes and Market Fluctuations
Any preliminary quote provided before an item has been physically evaluated is an estimate unless Fine Gold Bullion expressly states otherwise.
Precious metal market prices can change throughout the day. A quote may therefore be valid only for the period communicated when it is provided.
A previous quote does not guarantee that the same purchase price will be available at a later time.
The final purchase price will be confirmed before the transaction is completed.
8. Inspection, Testing and Authentication
Fine Gold Bullion may inspect, weigh, test and authenticate precious metals before agreeing to purchase them.
Testing may be used to determine or confirm factors such as:
- Metal type
- Weight
- Purity or fineness
- Authenticity
- Product condition
- Other characteristics relevant to valuation
Different testing methods may be used depending on the type of item or material presented.
Fine Gold Bullion may decline to purchase an item that cannot be satisfactorily authenticated or evaluated.
9. Bullion Bars, Coins and Packaging
Bullion bars and coins may be evaluated based on their weight, purity, authenticity, mint or refiner, condition, packaging and current marketability.
Items that have been removed from original packaging, have damaged or altered packaging, or require additional authentication may be subject to further inspection or testing.
Fine Gold Bullion does not guarantee that a packaged or branded bullion product will receive the same purchase price as another product containing an equivalent amount of precious metal.
10. Jewellery, Scrap and Other Precious Metal Materials
Jewellery, scrap precious metals and other precious-metal-bearing materials may be valued differently from investment bullion.
The purchase price may depend on the actual precious metal content, weight, purity, recoverability, testing results and applicable refining or processing requirements.
The retail, sentimental, collectible or replacement value of an item does not necessarily determine the amount Fine Gold Bullion will offer for its precious metal content.
11. Identification Requirements
Fine Gold Bullion maintains identification and transaction-verification procedures as part of its business and regulatory compliance practices.
Customers may be required to provide two valid pieces of identification when conducting a transaction with Fine Gold Bullion.
Fine Gold Bullion may request additional identification, information or documentation where necessary to verify identity, establish ownership or authority, satisfy our internal compliance procedures or comply with applicable Canadian laws and regulations.
Failure to provide requested identification or information may result in a transaction being delayed or declined.
12. Anti-Money Laundering and FINTRAC Compliance
Fine Gold Bullion is committed to complying with applicable Canadian anti-money laundering and anti-terrorist financing laws and regulatory requirements.
Fine Gold Bullion may be required to collect, verify, record, retain or report information relating to certain transactions.
Where applicable, Fine Gold Bullion will make reports to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) or other appropriate authorities as required by Canadian law.
Fine Gold Bullion may request additional information or documentation where necessary to satisfy applicable identification, record-keeping, reporting, source-of-funds, source-of-precious-metals or other compliance requirements.
13. Reportable Transactions
Certain transactions may be subject to additional identification, record-keeping and reporting requirements under applicable Canadian law. Fine Gold Bullion will comply with applicable reporting obligations administered by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), including where a transaction or series of transactions meets an applicable reporting threshold or other reporting requirement. Fine Gold Bullion may request additional identification, information or documentation where necessary to satisfy applicable regulatory and compliance requirements.
14. Suspicious Transactions
Fine Gold Bullion may request additional identification or information, delay or decline a transaction, or take other appropriate action where necessary to comply with applicable Canadian laws and regulatory requirements.
Fine Gold Bullion may make reports or disclosures to FINTRAC, law enforcement or other appropriate authorities where required or permitted by law.
15. Acceptance of an Offer
An evaluation or preliminary quote does not require you to sell your precious metals to Fine Gold Bullion.
You will have the opportunity to review the final purchase price before completing the transaction.
Once you accept Fine Gold Bullion’s final purchase offer and the transaction is completed, the sale is final, subject to applicable law.
Subsequent increases or decreases in the market price of the precious metal will not change the agreed transaction price.
16. Payment
Fine Gold Bullion will provide payment using an available payment method appropriate for the transaction.
Payment methods, processing times, limits and verification requirements may vary depending on the nature and value of the transaction.
Fine Gold Bullion may delay payment where reasonably necessary to complete authentication, payment processing, identity verification, regulatory compliance or other required transaction checks.
17. In-Person Transactions
Fine Gold Bullion conducts its precious metal purchasing operations from its location in Mississauga, Ontario.
Fine Gold Bullion currently does not require customers to ship precious metals to complete the standard in-person selling process.
Customers may contact Fine Gold Bullion before visiting to confirm business hours, identification requirements and whether a particular type of precious metal or material can be evaluated.
18. No International Transactions
Unless Fine Gold Bullion expressly agrees otherwise, Fine Gold Bullion’s standard precious metal purchasing services are intended for transactions conducted in Canada through its Mississauga location.
Fine Gold Bullion does not currently offer a standard international mail-in precious metal purchasing service.
19. Right to Decline a Purchase
Fine Gold Bullion reserves the right to decline to purchase an item or complete a transaction where reasonably necessary, including where:
- Required identification or information has not been provided
- Ownership or authority to sell cannot be satisfactorily established
- An item cannot be satisfactorily authenticated
- Testing indicates that an item differs materially from its represented weight, purity or composition
- Fraud or unlawful activity is suspected
- Regulatory or compliance requirements cannot be satisfied
- A pricing or technical error has occurred
- Fine Gold Bullion does not purchase the particular product or material
- Completing the transaction would conflict with applicable law or regulatory requirements
Nothing in these Terms permits Fine Gold Bullion to refuse service on a basis prohibited by applicable law.
20. Pricing and Technical Errors
Fine Gold Bullion makes reasonable efforts to provide accurate precious metal pricing and transaction information.
However, market-data, typographical, technical, system or pricing errors may occasionally occur.
Fine Gold Bullion reserves the right to correct an obvious error and, where appropriate and permitted by applicable law, revise or decline a transaction affected by an erroneous price or incorrect information before the transaction is completed.
21. Customer Information and Records
Customers are responsible for providing accurate and complete information when conducting a transaction with Fine Gold Bullion.
Fine Gold Bullion may collect and retain information required to process transactions, verify identity or ownership, maintain business records, prevent fraud and satisfy applicable legal and regulatory requirements.
Personal information will be handled in accordance with Fine Gold Bullion’s Privacy Policy and applicable Canadian privacy requirements.
22. Market Risk
Precious metal prices can rise or fall.
Once a transaction has been completed at an agreed purchase price, Fine Gold Bullion is not responsible for subsequent changes in the market value of the precious metal.
A customer cannot reverse a completed transaction solely because the market price subsequently increases.
23. No Investment, Tax or Legal Advice
Information provided by Fine Gold Bullion regarding precious metals, pricing or market conditions is provided for general informational and transactional purposes.
Unless expressly stated otherwise, Fine Gold Bullion does not provide personalized investment, financial, tax or legal advice.
Customers should consult an appropriately qualified professional where advice specific to their individual circumstances is required.
24. Limitation of Liability
To the extent permitted by applicable law, Fine Gold Bullion will not be responsible for losses resulting solely from changes in precious metal market prices after a transaction has been completed.
Nothing in these Terms is intended to exclude, restrict or limit any right, remedy, warranty or liability that cannot lawfully be excluded or limited under applicable law.
25. Force Majeure
Fine Gold Bullion will not be responsible for a delay or failure to perform an obligation where the delay or failure results from circumstances beyond its reasonable control.
Such circumstances may include natural disasters, government actions, labour disruptions, power or telecommunications failures, financial-market disruptions, interruptions to banking systems or other events beyond Fine Gold Bullion’s reasonable control.
26. Governing Law
These Terms & Conditions are governed by and construed in accordance with the laws of the Province of Ontario and the applicable federal laws of Canada.
Subject to applicable law, disputes arising from or relating to these Terms or transactions with Fine Gold Bullion shall be subject to the jurisdiction of the courts of Ontario.
27. Changes to These Terms
Fine Gold Bullion may update these Terms & Conditions from time to time to reflect changes to our business practices, regulatory requirements or applicable laws.
The version applicable at the time a transaction is completed will govern that transaction unless otherwise required by law or expressly agreed in writing.
28. Severability
If any provision of these Terms is determined to be invalid or unenforceable, the remaining provisions will continue in effect to the extent permitted by law.
29. Entire Agreement
These Terms, together with any applicable transaction documents and policies referenced in them, constitute the terms governing Fine Gold Bullion’s purchase of precious metals from the customer.
Where applicable, customers should also review Fine Gold Bullion’s Privacy Policy and other applicable policies.
30. Contact Fine Gold Bullion
If you have questions about these Terms & Conditions, selling precious metals, identification requirements or Fine Gold Bullion’s purchasing process, please contact Fine Gold Bullion or visit our location in Mississauga, Ontario.