Trading terms and conditions

1. General
1.1 The terms “BuyBullion.nz”, “we” or “us” are references to the New Zealand registered company WBL Limited, and includes – as applicable – the directors, employees and/or agents of WBL Limited. Depending upon context, “BuyBullion.nz” may also refer to the services, products, website and content provided by us.
1.2 The services which we provide (“Service”), allow buyers to buy and sell gold, silver, platinum, palladium and copper products (“Bullion”) at an agreed price.
1.3 All sales transacted in New Zealand Dollars, and all sale are final.
2 Market Loss Policy
2.1 While we deal exclusively in precious metals – i.e. commodities in which most people do not deal – fundamentally we are simply a retailer of goods, much like Amazon or your local hardware or clothing store. However, very much unlike Amazon or your local hardware or clothing store, we deal in goods which are constantly fluctuating in price. This adds a significant layer of complexity to both our day-to-day business operations, and to our company policies.
2.2 Due to this constant fluctuation in price, we – like all major Bullion dealers – hedge our Bullion inventory. That is to say, at the same time as we sell a quantity of Bullion to you, we also buy an equivalent quantity from one of our own suppliers, so as to maintain the value of our inventory of Bullion. Given the inherent volatility of the precious metals market, if we allow even a relatively short period of time to lapse before we top-up our inventory, we risk losing a lot of money – i.e. the cost of replacing the Bullion we sold to you, could end up being greater than the price you paid us (for the Bullion that we’ve just sold to you).
2.3 Consequently, if you are buying Bullion from us and we have issued an order number for you, the price is locked in for you and the transaction may not be cancelled, but only offset at our current asking price. Any deficit between the price at which we sold to you and the offsetting purchase price, is your responsibility only if your item(s) is cancelled or returned. That amount will be charged to you, plus a $350.00 (plus GST) cancellation fee.  Any market gain on cancellations shall remain the property of BuyBullion.nz.
3 Acceptance
3.1 These terms and conditions apply to both your access to and use of this website (“Site”) and the Services. By using the Site or by registering to use our Services and using the Services themselves, you agree to accept and comply with these terms and conditions and any policies referred to in these terms.
3.2 It is your responsibility to follow the laws, rules and regulations in your country of residence and/or the country from which you access this Site, as well as the laws of New Zealand. If you do not accept these terms and conditions, then you must not access this Site or use the Services.
3.3 By opening a user account (“Account”) on this Site, you expressly represent and warrant that you have read, understand and accepted these terms and conditions.
4 Opening and Operating an Account
4.1 In order to utilise our Services, you must enter information required to open an Account by following the registration process set out on the Site.
4.2 You agree to provide us with current, accurate and complete information about yourself in relation to the registration process for your Account and keep such information updated at all times. You agree that you will not use any other Account, other than your own or access an Account of another member at any time.
4.3 You agree to provide any information about yourself to us that we are required by law to obtain, including – if applicable – under the Act and the Secondhand Dealers and Pawnbrokers Act 2004. You authorise us to supply any personal information that we obtain from you to any regulatory authority that we consider that we are required by law to supply that information to.
4.4 You are responsible for maintaining the confidentiality of your Account information including username, password, safeguarding your own Bullion and all activities that are posted or transacted through your Account. You are required to notify us immediately of any unauthorised use of your or any other member Account or password or any breach of security. Any member who violates these rules regarding confidentiality may have their membership terminated at our option.
4.5 You agree to keep confidential all information disclosed to you by us under or in relation to these terms and conditions and the Services and agree to only use the information to the extent necessary to comply with your rights and obligations under these terms and conditions or as required by law.
4.6 You agree that our Privacy Policy applies to any personal information that we collect from, use or disclose about you.
5 Buying Bullion from us
5.1 The spot price of the Bullion products displayed on this Site, automatically update every 3 minutes. As a result, any delay in making payment may impact the amount of Bullion you will receive for the price you have agreed to pay.
5.2 Displayed prices include freight and parcel insurance unless the order is less than $750 in which case freight will be charged separately. However, displayed Bullion prices are ultimately determined by spot price and/or exchange rates at the time your funds clear our bank account – unless prior arrangements have been made in writing to fix/lock the price.
Please note that both the price and the availability of metals are/may be subject to both typographical error and/or market fluctuations.
5.3 Bullion imagery on the Site may not exactly match the physical Bullion which you ultimately receive.
5.4 We are under no obligation to accept any order, and may reject any order without giving any reason. We reserve the right to substitute a similar item if your item is out of stock, however we will make a reasonable endeavour to consult with you about the substitute if the timing of the trade will not be compromised.
6 Shipping
6.1 We will – upon receipt of cleared funds – arrange to ship your Bullion in accordance with our shipping policy, which is set below:
We dispatch Mondays to Wednesdays weekly.
Your order parcel(s) will ship with full replacement insurance.
Freight is free on orders over $750, otherwise the freight charge is $14.97.
Dispatched orders will be bound for the NZ Courier depot nearest to your residence.
If you are located in Dunedin, you can – if you wish – book a time to pick up your parcel from our offices. Alternatively, we can ship your parcel to the NZ Courier depot and you can retrieve it from there.
We will email you the applicable tracking info when your order ships, so you can monitor your parcel’s movement.
The tracking information on the NZ Courier website does not always match the actual physical status of the parcel in question. Accordingly, you should always call your local NZ Courier depot to arrange collection of your parcel.
Your current photo ID and signature are required for the parcel when you retrieve it from the NZ Courier depot.
If you do not pick up the parcel within three days of its arrival at the applicable NZ Courier depot, the courier will ship it back to us and you will be liable for the costs associated with re-handling the order.
Your parcel may ship directly from one of our suppliers – i.e. it may not come via us. If this happens, the supplier will contact you directly to arrange delivery and provide tracking information.
We make no guarantees as to how many days it will take to ship your parcel to the applicable NZ Courier depot, but we do endeavour to ship as fast as possible – taking into account variables such as government restrictions, number of orders in dispatch queue, items on back-order, courier pickup and delivery schedules and delays, etc. Our dispatch queue usually runs between 1 to 6 business days for in-stock items.
No shipping occurs during the period from December 15 until January 15th annually due to disruption of the global supply chain and other variables. 
All order inquiries should be made through this form please – we do not respond to text messages regarding order shipments.
6.2 Our insurance covers your Bullion until it reaches you – i.e. if your parcel gets lost in transit, we will replace it. However, we accept no responsibility for any loss of time, loss of profits (realised or anticipated), or any other form or loss or inconvenience stemming from or associated with the loss of your parcel.
6.3 We do not store Bullion on your behalf, nor do we store any precious metals on site at any of our offices. All metals are stored in professional New Zealand vaults at various locations.
6.4 In the event that you do not provide valid address details to us within 72 hours of the Bullion being acquired on your behalf, we reserve the right to sell or otherwise dispose of this Bullion and remit the proceeds to you less our costs.
6.5 Funds paid to us must be cleared funds and come from a New Zealand registered bank account in the name that matches the name registered to your Account. Transfer of funds from or to a third-party bank account are not acceptable. Notwithstanding the foregoing, we accept no responsibility in relation to funds received from or paid into a third-party bank account.  We do not accept cash or pay out in cash.
7 Selling Bullion to us
7.1 When we buy precious metal from you as a private seller, the item(s) must be inspected, weighed and electromagnetically tested over-the-counter before funds will be credited to your bank account. You must also allow us to sight your authorised identification and proof of address as required by the Secondhand Dealers and Pawnbrokers Act 2004. Acceptable forms of photo ID are a current driver’s license, passport, firearms license or other government-issued ID.
7.2 For the avoidance of doubt, a Kiwi Access card (previously known as the 18+ Card) is not an acceptable form of ID.
7.3 Instructions will be given to our bank for funds to leave our bank account within 3 business days. You are responsible for providing us the correct bank account number in your name to remit proceeds of any sale.
8 Risks
8.1 You acknowledge that the trading of Bullion involves significant risks – including but not limited to the fact that prices can fluctuate at any time, which means there may be an increase or decrease in the value at any time.
8.2 You also acknowledge that we are simply, merely and exclusively buyers and sellers of Bullion – i.e. we are not financial advisors. Consequently, you understand and acknowledge that:
a. we make no recommendations as to the type or amount of Bullion that you buy; and
b. we do not provide financial or investment advice of any kind – i.e. we are not financial advisers.
8.3 While we may from time to time provide information, some degree of technical analysis and our own opinions in relation to precious metals markets, the information on this Site does not in any way take into account the personal investment objectives, financial situation and/or needs of any individual person.
If you have any questions, doubts or concerns about the wisdom of your (anticipated) investment, you should contact a financial advisor or seek other professional advice before accepting a deal with us. All investments in any Bullion are entirely at your own risk.
9 Intellectual Property
9.1 All information on the Site is protected by copyright.  BuyBullion.nz are either the owner or licensed users of all intellectual property rights used on or in connection with this Site, including but not limited to the information, material, content and trademarks used on this Site, excluding your personal information.
9.2 You agree that you will not adapt, reproduce, store, distribute, display, publish or create derivate work from any information, material, content and trademark on the Site without our prior written permission.
10 Availability of Services
10.1 All Services on the Site are provided without warranty of any kind either express or implied. You acknowledge and understand that the Site may not operate on a continuous basis. We do not warrant that your access will be uninterrupted or there will be no delays, failures, errors, omissions, or loss of transmitted information.
10.2 We may at any time or for any reason make the Site or any part of the Site unavailable to you or any other person without notice.
11 Limitation of Liability
11.1 To the extent permitted by law we will not be held liable to you for any damages, costs, liabilities, losses including loss of profit, revenue, business opportunity or other indirect or consequential losses except to the extent that these are reasonably foreseeable and the loss suffered arises from our gross negligence, wilful deceit or fraud.
11.2 BuyBullion.nz has no liability to you if we are unable to provide a Service due to anything beyond our reasonable control including but not limited to operation of law, change in sanctions, policy, internet outage, your payment going astray or any other act of God/force majeure event.
12 Indemnity
12.1 You agree to indemnify and keep indemnified BuyBullion.nz, its directors, officers and employees against any action, liability, costs, claim, loss, damages, proceeding or expense including legal expenses suffered or incurred directly or indirectly rising from your use of this Site, the Services or from your breach of these terms and conditions.
13 Use of Site
13.1 You agree not to use this Site to:
a) Upload, post or otherwise transmit any software material, comment or information that is unlawful, tortious, defamatory, pornographic, indecent, harmful, invasive of privacy rights, abusive or otherwise objectionable;
b) Infringe the copyright or other intellectual property right of any person, undertake any purpose that is unlawful and not permitted by these terms and conditions or contemplated within ordinary use of the Site;
c) Interfere with the operation of the Site with the use of viruses, programmes or technology designed to disrupt or damage software or hardware including damaging, disabling, overburdening or impairing the Site or interfering with other members of the Site; or
d) Perform criminal activity or any sort, including but not limited to money laundering, illegal gambling operations, terrorist financing, or malicious hacking.
14 Tax, Duties and Customs Clearances
14.1 All sales of gold, silver and platinum within New Zealand are exempt from New Zealand Goods and Services Tax (GST), as all products of 99.5% pure metal or higher are exempt from GST.

14.2 GST does attach to sales of copper and palladium.
14.3 Notwithstanding 13.1, you are responsible for any tax consequences of any kind arising from your sale or purchase of Bullion and we have no liability to you in relation to any tax consequences that may be imposed upon you as a result.
14.4 You may be subject to import duties, taxes, documents, forms, and customs clearances levied by your country or other overseas authorities once your order reaches your country. These charges are not included in the price and are not the responsibility of WBL Limited. You should contact your local customs office for further information on applicable duties, taxes, requirements, restrictions and fees. 
15 Fair Trading Act and Consumer Guarantees Act
15.1 Subject to clause 15.2, nothing in these Terms in any way limits your rights and remedies under the Fair Trading Act 1986 (“FTA”) or the Consumer Guarantees Act 1993 (“CGA”).
15.2 Where you are “in trade” (within the meaning of the CGA):
1.a) the parties acknowledge that the products or services are being supplied and acquired in trade;
1.b) the parties agree to contract out of the provisions of the CGA and sections 9, 12A and 13 of the FTA;
1.c) it is fair and reasonable that the parties are bound by this clause 15.2;
1.d) the conditions, warranties and guarantees set out in the CGA shall not apply to, and are excluded from, your acquisition of Product, and other Services from us; and
1.e) you may not claim any of the remedies set out in the CGA.
16 Severability
16.1 If any provision of the terms and conditions becomes or is held invalid, unenforceable or illegal partly or in full for any reason then that provision should be severed from the remaining terms and conditions which remain in full force and effect.
17 Disputes
17.1 Should a dispute arise over any product or service that is provided by BuyBullion.nz you must put the dispute in writing by email to us. If our response does not resolve the dispute or you do not receive a response from us within one month, you may direct your complaint to www.ifso.nz for resolution. There is no cost to you to do this.
17.2 Governing Law
17.3 These terms and conditions, your use of our Services and this Site, any information contained on it, or any dispute arising out of the use of such Services are subject to the laws of New Zealand and the non-exclusive jurisdiction of the courts of New Zealand in relation to these terms and conditions.
18 Variation
18.1 We may vary these Terms from time to time by notice in writing to you.   Any variation will be effective as from the date specified in the notice provided to you (Variation Effective Date) and if you use the Website and/or receive Services after the Variation Effective Date you will be deemed to have accepted the variation.   
18.2 If you do not accept the variation to these Terms, you will not be penalised by us. However, you will not be able to make any further orders for Product, including Online Orders, or use the Website or the Services, following the Variation Effective Date.