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GOLD AVENUE CEO
In the General Terms and Conditions, terms beginning with a capital letter have the following meaning:
Calendar Days: the days of the week, including weekends and public holidays officially recognized by the cantonal legislation applicable to Goldavenue SA.
Customer: any individual or entity who enters into a transaction of sale, purchase or storage of a Product with Goldavenue SA.
Customer Service: The service in charge of handling Goldavenue’s clients.
Goldavenue: Goldavenue SA, entered in the Register of Geneva (CH) under registration number CHE-297.540.011.
GTC: General Terms and Conditions of Goldavenue SA.
Order: all orders, including sale order and purchase order.
Order Confirmation: the order confirmation which is sent by email to the Customer and/or which is available via the Customer account.
Product: all products offered on Goldavenue’s Website, such as gold, legal tenders, minted coins, minted bars.
Website: The website www.goldavenue.com
Working days: the days of the week, excluding weekends and public holidays officially recognized by the cantonal legislation applicable to Goldavenue SA.
2. Scope and contractual partners
By using the Website and other services provided by Goldavenue, including placing purchase Orders (see article 5 below), sale Orders (see article 10 below) with Goldavenue or storing Products in Goldavenue’s safes, the Customer agrees to these GTC. These terms apply to all Orders, all sales, all purchases and the storage of all Products stored in Goldavenue’s safes, whether made through the Website, by telephone or otherwise.
Customers must be at least 18 years old, capable of discernment and not under curatorship in order to place an Order through the Site.
The operator of www.goldavenue.com and the contractual partner of Goldavenue is :
Avenue Rosemont 10
Registered in the Register of Geneva under registration number CHE-297.540.011
represented by its managing director, with a joint signature of two, Mr. Alessandro Soldati.
3. Risk and Investment advice
All investments involve some level of risk. If the Customer is considering purchasing precious metals, as an investment, he/she should assess the current market and contact his/her financial advisor for any advice. The Customer agrees that Goldavenue does not provide any advice on the opportunity to invest in, disinvest from, or remain invested in, a particular precious metal.
4. The information mentioned on the Website
Although Goldavenue strives to inform its Customers in the most complete and faithful way possible, the photos, videos, and texts illustrating and describing the products, as well as the state of the stocks mentioned on the Website are not contractual and are provided for information only. They are in no way, an offer by Goldavenue (which does not guarantee its accuracy) and in no way qualify as guarantees or as the quality promised.
The prices shown on the Website are denominated in CHF, EURO, USD and GBP and are final before tax and shipping cost if applicable.
Goldavenue ships worldwide. If the Customer requires shipping to a country which is not listed, the Customer shall contact Goldavenue’s Customer Service (firstname.lastname@example.org, Tel. +41-22-552-30-17) for an estimate of the cost.
Shipping fees are calculated and are payable per Order; where consolidated dispatch of multiple Orders as a single unit is not possible for technical reasons. Goldavenue insures all of its Order shipments to the Customer for the sale price of the enclosed Product purchased from Goldavenue.
The Customer further acknowledges that without limiting any of the foregoing, the Products and the services provided by Goldavenue and their respective information, pricing and data, and availability are subject at any time and from time to time to human, mechanical, typographic or other errors, oversights, mistakes, limitations, delays, service interruptions, (i) including, without limitation, as may be due in whole or in part to, related to or arising out of Goldavenue‘s or Goldavenue‘s providers computer hardware and software, telecommunication and operating systems, databases, or business processes and procedures, (ii) as well as other problems inherent in, or which may be associated with, the use of the internet and electronic communications including, without limitation, force majeure events as well as government, regulatory and acts and omissions of third parties affecting or impacting the Products and the services provided by Goldavenue, its information and data, or such communications. In consequence, the Customer undertakes to retain from holding responsible and/or liable whatsoever Goldavenue for delays, failure, or other loss due to, caused by or resulting from any of the problems described here above, in whole or in part.
5. Buying from us
Goldavenue’s sales presentation on the Website does not constitute a binding offer but is merely an invitation for the Customer to deal with Goldavenue. By clicking on the "Order and Pay" button, the Customer makes a binding offer to Goldavenue to purchase the Product concerned at the price indicated on the Website. The Customer will then receive an automatic Order Confirmation from Goldavenue.
Until valid payment has been received by Goldavenue, any negative price fluctuation of the Product is for the account of the Customer, and any positive price fluctuation is for the account of Goldavenue.
Prior to the clicking on the “Order and Pay” button, the Customer can view and change his/her Order by clicking on "Shopping Cart".
Goldavenue reserves its right to refuse an Order in its free and complete discretion, especially but not limited in cases of no payment, late payment, dysfunction, no availability of the Product etc… without being required to indicate the reason.
Upon receipt of payment, Goldavenue will arrange the delivery of the goods according to the shipping method selected by the Customer (shipping or storage).
Once the Order Confirmation has been sent, the Customer cannot cancel his/her Order.
Notwithstanding anything to the contrary provided in the preceding paragraph, if the cancellation of the Order of the Customer by Goldavenue is due to a technical reason, such as a dysfunction of the Website and/or the wrong quotation of prices, Goldavenue must notify to the Customer the cancellation within one week of discovering the error (e.g. by e-mail) and will refund the Customer the amount received, as well all transaction fees applicable. If the Product has already been sent, the Customer must send it back immediately after receiving the cancellation notification.
6. Payment and retention of title
Goldavenue currently accepts payments for Orders in U.S. dollars (USD), EURO, GBP and Swiss francs (CHF). The entire invoice amount must always be paid in advance. The Customer can pay either by pre-charged deposit, bank transfer or credit card.
Orders with “Standard Service” may take 2-3 banking days to be processed. For a surcharge of 3% of the order total, the customer can decide to accelerate the processing by choosing the upgrade “Priority Service”. All payment types for "Priority Service" are subject to the surcharge of 3% of the order total. The order is then processed the same day.
Until full payment of the invoice of a specific delivery, Goldavenue retains the full and extensive title of the Product.
Bank transfer payment must be instructed within twenty-four (24) hours of the Order date and all banking fees and commissions fees are borne by the Customer. In case of a bank transfer payment, the invoice amount must reach Goldavenue’s account no later than three (3) days following the issuance of the Order Confirmation. The payment must originate from the bank account of the Customer who has made the Order. The Customer is responsible and will compensate Goldavenue for all fees and costs linked to the refund by Goldavenue of the payment made from an account which does not belong to the Customer.
Default by the Customer on payment of an Order is subject to Goldavenue’s market loss policy (see article 12 below) plus a fifty Swiss Francs (CHF 50.00) cancellation fee. The Customer must also pay, and has full responsibility and liability to Goldavenue for all fees and costs associated with Goldavenue’s efforts in collecting from him/her. If any market loss to Goldavenue has occurred, it will be calculated and added to the CHF 50.00 cancellation fee. If applicable, the Customer agrees that he/she has full responsibility and liability to Goldavenue for any cancellation fee and/or market loss and agrees to remit immediately (upon notice) to Goldavenue good funds for any cancellation fee and/or market Loss. No future Order by the Customer is permitted unless and until all market loss is paid in full. Any market gain on Order cancellations vests in and shall remain the property of Goldavenue. Upon written confirmation by Goldavenue of the payment of the CHF 50.00 cancellation fee plus the market loss, Goldavenue will forgive further action against the Customer and his/her responsibility for any breach by him/her and all resulting damages owed to Goldavenue.
7. Shipping and Transfer of Risk
All Orders are shipped by Goldavenue, at its discretion, by Swiss Post, UPS, Federal Express or another common carrier. Each package is fully insured. Packages sent by registered and insured mail can take on average 1-10 Business Days to be delivered. This delivery period is however purely indicative and not contractual.
Goldavenue indicates on the Website the countries to which the shipping is possible. Goldavenue reserves its right to modify the list of countries at any time.
All duties and taxes must be paid by the Customer on Order(s) delivery. The Customer may be subject to taxes and/or duties for his/her Order from Goldavenue. The Customer shall consult his/her local customs for more information on duty and tax rates.
Goldavenue always declares the full value of the shipment on any customs form. There are no exceptions to this rule.
Transport costs, taxes and risks inherent to the return of an unclaimed parcel (including in the event that the carrier does not fill a calling card) and/or to a possible reshipment, are for the account of the Customer exclusively, as are the risks of storing the merchandise returned. Goldavenue will not reship the Order unless and until Goldavenue is paid in full for any return shipping costs, duties, taxes Goldavenue has had to pay or advance for the Customer as well as any subsequent re-ship fees back to the Customer.
In the event the Customer selects the "Shipping" delivery option, delivery of the goods shall take place at the agreed address. The delivery shall be deemed to be completed when the Products have been handed over to any person at the given address who claims to be authorized. Delivery to a mailbox or a deposit station etc. is not allowed and will not be insured. The person who claims to be authorized can be asked to prove his/her identity.
Should delivery of the goods from Goldavenue fail for any reasons beyond its control, Goldavenue may cancel the contract, and any payments made will be refunded to the Customer. Goldavenue’s statutory rights, in particular, a set off for additional expenses, remain unaffected.
8. Storing Product in Goldavenue’s safe
Every time a storage solution is chosen by the Customer, Goldavenue guarantees that all Products owned by the Customer is physically stored. All products are stored and segregated as customer custody.
Goldavenue is a Swiss private company, thus all assets are held outside the banking system. While stored in the secure Swiss location operated by Goldavenue, all products are insured based on current market values, protected against physical loss, theft or damage. The Customer can take physical possession of his/her items at any time or easily sell to Goldavenue all or a part of his/her Products. The Customer has full, 24/7 online access to his/her holdings.
When the Customer wishes to ship products held in storage, he/she is subject to the effective cost of shipping.
The Products, which the Customer chooses to store, are subjected to Swiss VAT. When the Customer wishes to ship Products out of his/her account, he/she may be subject to a handling fee, the actual cost of shipping, taxes and/or duties for his/her Products shipped by Goldavenue. The Customer has to consult his/her local customs for more information on duty and tax rates.
9. Storage Fees
Goldavenue offers to its Customer free storage for all portfolio up to 10 kg of Products. Above 10 Kg (sum of all the different metals), the Customer shall pay an annual storage fee based on an amount equal to thirty (30) basis points (0.30%) per year of the market value (as defined below) of all of his/her Products in the store during the period to which the invoice relates.
9.2. Market Value
Each day, the market value is calculated at the market price as of 4:00 p.m. (GMT+1) of each Product as quoted by Goldavenue on its Website (www.goldavenue.com).
9.3. Quarterly Fees
Storage fees shall be billed to the Customer on a calendar quarterly basis for services provided in the immediate past calendar quarter. The Customer agrees to pay the fees and hereby authorizes Goldavenue to charge the storage fees automatically to a credit card, a deposit account or a debit card designated by the Customer on a quarterly basis. Such fees shall be paid in full by the Customer.
9.4. Payment and remedies
Fees and charges shall be due and payable within thirty (30) days of the date shown on the Customer Invoice. The Customer is responsible for all transaction fees. If the payment cannot be charged on the credit card, deposit account or debit card designated by the Customer, or if a charge is rejected for any reason, including chargeback, Goldavenue may in its sole discretion, exercise any one or more of the following remedies:
(i). Assess a late fee equal to the greater of thirty Swiss francs (CHF 30.00) per month or one and one-half percent (1.5%) per month of any amounts past due, for so long as the past due amount remains unpaid; The Customer must also pay, and has full responsibility and liability to Goldavenue for all fees and costs associated with Goldavenue’s efforts in collecting from him/her;
(ii). Refuse to accept or honor any instructions from the Customer with respect to any further deposits into, and/or any withdrawals from, the account ;
(iii). No future Order by the Customer will be permitted unless and until all fees and charges are paid in full ;
(iv). Sell part of the held Products to cover unpaid fees and charges ;
9.5 Sold or shipped Products
9.6 Changes in fees
Upon not less than sixty (60) days’ written notice, which notice may be sent via regular mail, overnight delivery, facsimile or email, Goldavenue reserves its right to change his storage fees in its free and complete discretion, without being required to indicate the reasons.
Goldavenue shall maintain, directly and/or through one or more of its affiliates, insurance coverage issued by a reputable insurance company of such types and in such amounts as is commercially reasonable for a company operating in Goldavenue’s industry.
9.8 Limitation of Damages
Goldavenue shall not be liable for any loss, damage or destruction of Product caused by force majeure.
10. Selling to us
GOLD AVENUE only purchases Products of the Customer stored in its secure location. GOLD AVENUE does not buy back products that have been delivered to a customer.
Goldavenue’s presentation on the Website does not constitute a binding offer but is merely an invitation to deal with the Customer. Once the Customer submits an offer by clicking on the "Sell" button, he/she submits to a binding offer. Prior to this, the Customer can view and change his/her offer at any time. Formally, the Customer submits his offer at the moment he/she clicks on the said button. The sale is accepted, and therefore the contract is concluded, only from the moment Goldavenue sends the Order Confirmation to the Customer. Goldavenue reserves its right to refuse an Order in its free and complete discretion, without being required to indicate the reasons.
Once Goldavenue has confirmed its Order, it immediately credits the Customer’s Deposit account with the amount of the Order.
11. Deposit account
In order to avoid paying fees and/or collecting payout generated by sales, Goldavenue provides the Customer with a deposit account. This deposit account can only be used as a payment system. The Customer can not use it as a saving account and any abuse will be sanctioned by the immediate closure of his/her account. The Customer agrees to have full responsibility and liability to Goldavenue for any abusive use.
The pre-charged deposit has a limit of three thousand Swiss Francs (CHF 3’000.00). Any amount, which exceeds this limit, has to be used or be refunded on the Customer’s bank account within fifty (50) days. In the absence of any communication from the Customer within the given time range, Goldavenue will automatically refund the amount subject to the deduction of a fifty Swiss Francs (CHF 50.00) refund fee to the Customer’s bank account.
Goldavenue can only accept recharge payment from a bank account in the Customer’s name. Bank transfers from mismatching accounts will be reversed and it may take more than 25 business days for the funds to be returned to the Customer. The Customer must pay, and has full responsibility and liability to Goldavenue for all fees and costs associated with Goldavenue’s efforts to refund the payment from an account, not in the name of the Customer.
If the Customer asks for a deposit refund, Goldavenue will send to the Customer the amount due on his/her bank account within 3-5 Business Days. This delivery period is however purely indicative and not contractual. The bank account must be in the Customer’s name. All transaction fees are at the expense of the Customer.
The minimum amount for a payout is three hundred Swiss francs (CHF 300.00). For a smaller amount, Goldavenue charges a twenty Swiss francs (CHF 20.00) transaction fee to the Customer.
The deposit shall not produce interests for the Customer.
12. Market loss policy
When the Customer buys from Goldavenue, once Goldavenue has issued an Order Confirmation number, the Customer has a binding contract, the transaction price is locked-in and any corresponding market risk is transferred to the Customer.
Any order cancellation by Goldavenue other than caused by Goldavenue is subject to Goldavenue’s market loss policy plus a fifty Swiss Francs (CHF 50.00) cancellation fee. The Customer must also pay, and has full responsibility and liability to Goldavenue for all fees and costs associated with Goldavenue’s effort to collect it from the Customer. Order cancellation will be confirmed, and the Customer will be given a cancellation number. At that time, if any market loss to Goldavenue has occurred, it will be calculated and added to the CHF 50.00 cancellation fee. If applicable, the Customer agrees to have full responsibility and liability to Goldavenue for any cancellation fee and/or market loss and agrees to remit immediately (upon notice) to Goldavenue good funds for any cancellation fee and/or market loss. No future Order by the Customer will be permitted until the market loss is paid in full. Any market gain on order cancellations vest in and shall remain the property of Goldavenue. Upon written confirmation by Goldavenue of the payment of the CHF 50.00 cancellation fee plus the market loss, Goldavenue will renounce to civil liability actions against the Customer for any breach by him/her and all resulting damages to Goldavenue.
13. Information requirements in case of transport damage
The shipping insurance ends once the Product has been delivered and the corresponding delivery receipt signed by the Customer.
The Customer has the obligation to refuse any shipment, which appears to be damaged or tampered with as the shipping insurance ends once signed for and/or delivered. When refused, the package(s) will return to Goldavenue for inspection. Customers must immediately submit a complaint by email to the Customer Service so that any associated rights against the shipper/carrier can be preserved.
If there is any disruption in the delivery of a package, the Customer agrees to cooperate with Goldavenue in any investigation or claim process and to take every reasonable action requested of him/her in the process. Failure to fully cooperate will jeopardize coverage that may be provided to the Customer.
14. Defects and liability for damages
In case of defects which are not apparent at the time of delivery against signature, the Customer must notify it to the Customer Service within three (3) working days from the moment that he/she received the Product, otherwise the defect will be considered as accepted.
When purchasing several Products, the defective nature of one of the Products, its replacement or the impossibility of shipping, will not invalidate the entire purchase contract.
Once the claim is filed, Goldavenue reserves its right to re-ship the items or refund the Customer at its discretion, and Goldavenue shall have no further responsibility or liability to the Customer.
15. Anti-money laundering and fight against the financing of terrorism policy
The Management of Goldavenue SA makes it a priority to comply with high standards of anti-money laundering and combating terrorism financing practice.
In this context, Goldavenue SA applies rigorously the following regulations designated to prevent money laundering in Switzerland:
- Art. 305 bis and art 305 ter of the Swiss Penal Code;
- Federal Act on Money Laundering (AML);
- Articles of Association Romande des Intermédiaires Financiers (ARIF);
- Regulations SRO of ARIF;
- Directives of ARIF.
For this purpose, The Customer must supply and disclose to Goldavenue the personal information needed for identification purposes, if the Customer wishes to create, continue or to carry out the business relationship or a particular transaction. The Customer, as Goldavenue’s contractual partner, is subject to a legal obligation to cooperate with Goldavenue; when necessary, the Customer must provide Goldavenue with the information and documentation necessary for identification purposes and must also notify to Goldavenue of any changes which may occur in the course of the business relationship.
In all cases, Goldavenue SA requires the Customer his/her name, first name, address, nationality, date of birth and to confirm his/her email address. Goldavenue SA always matches the contracting partner name between the given information and the credit card/bank payment details.
16. Return policy
At the Customer’s request, Goldavenue may, but is not obligated to provide the Customer with an opportunity to exchange a Product for an identical Product in the event of a material defect. The Customer must receive a written confirmation that the exchange request has been approved. No merchandise will be accepted unless the return has been previously accepted by Goldavenue. If Goldavenue agrees to do so, such exchange must be made within seven (7) working days from the date on which the Customer receives his or her Product(s). After this time, the return will be refused. The return must be made using the original packaging, against signature. The Customer is responsible for the risk of loss during the return shipment. Shipping and handling charges are non-refundable.
17. Applicable law and jurisdiction
This Agreement, as well as sales organized by Goldavenue, are governed by Swiss law.
In case of a dispute, the place of jurisdiction is Geneva exclusively.
18. Final Provision
If any provision of this agreement is legally ineffective, this shall not render the entire contract ineffective. Rather, the ineffective provision shall be replaced by a relevant and effective provision corresponding to its economic purpose. The same applies to any gaps in this agreement.
Goldavenue reserves its right to make changes to the GTC which govern the use of the Website and its content at any time. These GTC may be revised at any time, in which case this page will be modified accordingly. The Customer must, from time to time, consult this page in order to become aware of any changes made, as they incur to his/her responsibility.
Update on 16 August 2018.
The General Terms and Conditions are protected by copyright. Any reproduction, distribution or other use of the General Terms and Conditions, even in modified, is prohibited, except to obtain the prior written consent of the author. Unauthorized use of the General Terms and Conditions of Sale will be legally pursued.