Definitions

In the absence of explicit statement to the contrary, the terms used in these general terms and conditions are defined as follows:

Company/User/We/Us: BlokGold Ltd, a company incorporated in Hong Kong with business address at 1/C, 33 Des Voeux Road Central, Central & Western District, Hong Kong, Registration No.: A-B-23-06-00637, the user of these general terms and conditions.

Customer/Consumer/You: The company’s other party to the contract, who is a natural person or legal entity and is not acting in the course of their profession or business, to whom the company sells and delivers precious metals and for whom the company renders services.

Contract: The contract between BlokGold Ltd and the customer.

Products: The precious metals, bullion, coins, and related items offered for sale by BlokGold Ltd.

The products presented on blokgold.com include goods (precious metals) that are subject to fluctuations in the financial market and over which we have no control, and which may occur at short notice. For this reason and on the basis of statutory exemption, with these products customers have no right to cancel, even in the case of distance contracts. Your order will therefore be binding immediately upon receipt by us and cannot be cancelled by you.

Scope of Application

These conditions are applicable to all legal relationships between BlokGold Ltd and the customer, including all offers, quotations and agreements between BlokGold Ltd and the customer to which BlokGold Ltd has declared these terms and conditions applicable, insofar as these conditions have not been expressly departed from in writing by the parties.

These terms and conditions are further applicable to all contracts with BlokGold Ltd that are executed with the assistance of third-parties.

Departures from these general terms and conditions are valid exclusively if expressly agreed in writing.

Offers and Formation of Contract

All offers made by BlokGold Ltd are subject to contract unless an acceptance period has been expressly stated in or in relation to the quotation.

In the absence of agreement to the contrary, the prices stated in the aforementioned offers/quotations are exclusive of any applicable taxes, customs duties, and other governmental levies as well as the costs incurred in relation to the contract, including shipping and administration expenses.

The offer is based exclusively on the information provided for that purpose by the customer, and BlokGold Ltd can rely on the accuracy and completeness of that information. The customer guarantees the accuracy and completeness of that information.

The contract is formed between BlokGold Ltd and the customer by one of the following methods and times: a) if no order confirmation is sent, at the time at which the customer accepts in good time and verbally or in writing and in unamended form an offer made by BlokGold Ltd; b) if an order confirmation is sent, at the time at which BlokGold Ltd takes receipt of the returned order confirmation that was sent to the customer, signed for agreement; c) or at the time at which BlokGold Ltd commences execution of the order on the customer’s request.

Notwithstanding the above, either party is free to make a case that the contract has been formed by other means and/or at a different time.

Execution of Contract

BlokGold Ltd will execute the contract with the due care that can reasonably be expected of a good contractor. BlokGold Ltd does not however guarantee that a certain result will be achieved.

All deadlines indicated by BlokGold Ltd are indicative and are not to be regarded as firm deadlines.

In cases of late delivery BlokGold Ltd must be held in default by the customer before being considered to be in default.

If and in so far as required for the correct execution of the contract, BlokGold Ltd reserves the right to have the work carried out by third-parties.

The customer shall ensure that BlokGold Ltd is provided in good time with all information that BlokGold Ltd indicates is necessary and which the customer could reasonably be expected to realise is necessary to the execution of the contract. If the information required for the execution of the contract is not issued to BlokGold Ltd on time, BlokGold Ltd reserves the right to suspend execution of the contract and/or to charge the customer with extra costs incurred as a result of the delay at the current market rates.

Cryptocurrency Payments

BlokGold Ltd accepts payments exclusively in cryptocurrencies including but not limited to Bitcoin, Ethereum, and various stablecoins. All cryptocurrency payments are processed directly peer-to-peer without third-party payment processors.

Payment must be made within 15 minutes of the invoice date and cryptocurrency wallet address being provided. The exact cryptocurrency amount will be calculated based on current market rates at the time of invoice generation.

If the customer fails to remit payment within the 15 minutes, the customer shall be held in default by operation of law. The customer shall in that case be liable for any market fluctuation losses and administrative fees.

BlokGold Ltd’s claims on the customer shall become immediately due and payable in the event of the customer being declared bankrupt, granted suspension of payment, being subjected to attachment or placed under administration or guardianship.

By paying with cryptocurrencies, customers accept that refunds and partial refunds in cryptocurrencies will be calculated based on the actual exchange rate and the invoice amount in USD. In the case of reimbursement, only the value of the transaction in USD at the time at which the transaction has taken place can be refunded.

BlokGold Ltd reserves the right to refuse any cryptocurrency payment in its sole discretion.

BlokGold Ltd does not accept third-party payments. All cryptocurrency payments must originate from wallets controlled by the customer whose details match the order information.

Retention of Title

All goods delivered by BlokGold Ltd remain the property of BlokGold Ltd until the customer has met in full all of the obligations under the contract entered into with BlokGold Ltd; this to be decided at BlokGold Ltd’s discretion.

The customer is not authorised to pledge or encumber in any other way the goods covered by retention of title.

In the event of third-parties imposing an attachment on the goods delivered under retention of title or setting out to establish or invoke any rights to them, the customer is obliged to notify BlokGold Ltd of that as soon as may reasonably be expected.

In the event of BlokGold Ltd wishing to exercise its property rights as provided for in this article, the customer hereby gives unconditional and irrevocable permission, now for then, for BlokGold Ltd or third-parties engaged by BlokGold Ltd to enter the places where the property of BlokGold Ltd is located and to repossess that property.

Shipping and Delivery

BlokGold Ltd provides worldwide shipping to all international destinations. Shipping costs vary based on the destination, weight, size, and nature of the products ordered, and will be calculated and displayed during the checkout process.

Delivery shall take place to the address specified by the customer during the order process. The customer is obliged to accept the goods at the time at which BlokGold Ltd delivers them or has them delivered.

If the customer refuses to take delivery or fails to provide information or instructions necessary to the delivery, BlokGold Ltd shall be entitled to store the goods at the customer’s expense and risk after BlokGold Ltd has notified the customer of its intention to do so. All storage costs will in that case be charged to the customer.

The risk of the goods shall transfer to the customer at the time at which they are legally and/or actually delivered to the customer and are thus placed at the customer’s disposal or a third-party nominated by the customer for that purpose.

Insurance

BlokGold Ltd offers optional shipping insurance which customers may purchase during the checkout process. If insurance is not purchased, the customer assumes all risk of loss or damage during transit once the package leaves BlokGold Ltd’s control.

BlokGold Ltd’s insurance coverage, if purchased, only extends to packages in transit. Once the carrier obtains a signature or completes delivery confirmation, coverage ceases.

BlokGold Ltd accepts no responsibility if customers instruct carriers to leave packages unattended without requiring a signature, or if customers instruct carriers to deliver packages to anyone other than the addressee.

This includes, but is not limited to, building managers, neighbors, business mailrooms, office receptions, drop-off locations such as mail boxes, post offices, parcel lockers, carrier service centers, logistics consolidation points, or any person who is not the addressee listed on the order.

Returns, Cancellations and Withdrawal Rights

In accordance with applicable law regarding precious metals trading, customers have no statutory right to return or cancel an order for gold, silver, platinum and palladium once placed. This is due to the fact that the products BlokGold Ltd sells are subject to price fluctuations in the financial markets that are beyond our control.

Agreements made by placing orders are therefore legally binding immediately upon confirmation. BlokGold Ltd does not accept product returns under any circumstances.

BlokGold Ltd does not accept order cancellations once an order has been confirmed and payment received.

Where an order is cancelled due to circumstances beyond the customer’s control and accommodated by BlokGold Ltd at its sole discretion, any costs incurred by BlokGold Ltd will be passed on in full to the customer, and a market loss fee may be applied.

Know Your Customer (KYC) Requirements

For orders with a total value of USD $10,000 or above, or cumulative orders from the same customer that reach this threshold, BlokGold Ltd is required to collect identification documentation in compliance with anti-money laundering regulations.

Required documentation includes valid government-issued identification and proof of address. BlokGold Ltd reserves the right to request additional documentation at its discretion.

Orders above the KYC threshold will not be processed until satisfactory identification has been provided and verified.

BlokGold Ltd retains all identification documents securely for the period required by applicable law. These documents will not be shared with third parties except as required by law or court order.

Buyback Services

BlokGold Ltd may offer buyback services for certain products at its sole discretion. Buyback availability and pricing are indicated on individual product pages where applicable.

Buyback services are not guaranteed and are subject to product condition, market conditions, and BlokGold Ltd’s current inventory requirements.

All buyback transactions require physical inspection of products and are subject to BlokGold Ltd’s final approval.

Buyback pricing may differ significantly from original purchase prices and is determined by current market conditions at the time of the buyback transaction.

Taxes and Customs

BlokGold Ltd does not apply or collect any taxes on the sale of precious metals. However, customers are solely responsible for any import duties, customs fees, taxes, or other governmental charges that may be imposed by their country of residence or destination country.

BlokGold Ltd will declare the full value of all shipments on customs documentation. There are no exceptions to this policy.

If a shipment is returned to BlokGold Ltd due to the customer’s refusal to pay customs duties or taxes, the customer will be responsible for all return shipping costs and any additional fees incurred.

Collection Costs and Late Payments

All judicial and extrajudicial collection costs reasonably incurred by BlokGold Ltd in connection with the customer’s non-compliance or late compliance with payment obligations shall be for the customer’s account.

The customer is liable for payment of statutory interest over any debt collection costs.

Complaints and Inspection

The customer must notify BlokGold Ltd in writing of complaints within 48 hours of receiving the products. The complaint should contain a description of the issue in as much detail as possible along with photographic evidence.

If a complaint is well-founded, BlokGold Ltd is authorised to decide at its own discretion whether to replace the relevant product or reimburse a proportion of the price already paid.

If the customer fails to lodge a complaint within the period provided above, all rights and claims regarding the subject of the complaint shall be null and void.

Limitation of Liability

BlokGold Ltd’s liability to the customer for any cause whatsoever, regardless of the form of action, will at all times be limited to the amount paid by the customer to BlokGold Ltd for the products.

BlokGold Ltd shall not be liable for any indirect, special, incidental, punitive, consequential or exemplary damages arising from or relating to the use of products or services.

BlokGold Ltd cannot be held liable if loss can be attributed to intentional act or omission and/or gross negligence on the part of the customer or inexpert or incorrect usage by the customer.

Force Majeure

BlokGold Ltd shall not be liable for failing to perform its obligations due to circumstances reasonably beyond its control, including but not limited to acts of government, natural disasters, acts of terrorism, riots, labor disputes, power failures, transportation delays, computer failures, telecommunications failures, or any other events beyond BlokGold Ltd’s reasonable control.

Indemnification

The customer indemnifies BlokGold Ltd against claims of third parties regarding intellectual property rights on materials or information used during implementation of the contract.

The customer indemnifies BlokGold Ltd against claims of third parties regarding losses related to or arising from contracts implemented by BlokGold Ltd.

Applicable Law and Jurisdiction

All legal relationships between BlokGold Ltd and the customer shall be governed by the laws of Hong Kong. Any disputes arising from these terms and conditions or any contract shall be subject to the exclusive jurisdiction of the courts of Hong Kong.

Confidentiality

The customer shall hold the existence and terms of all transactions with BlokGold Ltd in strictest confidence and shall not disclose such information unless required by applicable law or court order.

Final Provisions

These terms and conditions constitute the entire agreement between BlokGold Ltd and the customer. Any modifications must be made in writing and signed by both parties.

If any provision of these terms and conditions is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

BlokGold Ltd reserves the right to modify these terms and conditions at any time. Customers will be notified of any changes, and continued use of services constitutes acceptance of modified terms.

Last Updated: October 2024

BlokGold Ltd 1/C, 33 Des Voeux Road Central, Central & Western District, Hong Kong Registration No.: A-B-23-06-00637