The following terms and conditions (the "S.T.A.R. Gram Terms") must be read in conjunction with any other applicable supplementary terms imposed by us, including but not limited to the Account Terms, and Funding and Payment Terms, as may be amended from time to time, (the "Silver Bullion Terms and Conditions") which, together with these terms, constitute the terms and conditions that will govern your purchase of S.T.A.R. Grams products.
Please note that some clauses in this S.T.A.R. Gram Terms shall not apply to your purchase of physical precious metals or other products.
S.T.A.R. Grams operates as a fully allocated system, ensuring that physical gold bars are available before the fractional ownership of the bars can be transferred. Consequently, depending on the size of an order, it may not be closed immediately, and will instead be tagged as a pre-order until the physical bars backing the S.T.A.R. Gram product(s) have been allocated.
We guarantee to buy back precious metals stored under S.T.A.R. Grams subject to the terms of service.
Credit/Debit Card Funding: By setting up recurring payments by credit/debit card, you agree to us debiting the relevant credit/debit card for the amount and funding frequency that you selected. This recurring payment arrangement will continue to be in effect until you terminate the arrangement or until we receive a notification from your bank. We reserve the right to terminate this payment arrangement at any time at our discretion.
If you enabled the AutoSave and we receive a chargeback related to you recurring credit/debit card payment, your completed Order will be reversed and you will be charged an administration fee of fifty Singapore Dollars ($50.00 SGD) plus market loss in accordance with our Market Loss Policy. You also agree that in such instances, we will not be responsible for any potential market gain related to your reversed order.
Unsuccessful deduction: If we are unable to make the charge on your credit/debit card, for any reason whatsoever, and your Cash Balance is not sufficiently funded, any scheduled recurring order under the AutoSave will not be executed by us.
Termination: The credit/debit card Funding arrangement will be terminated if (a) the deduction is unsuccessful on a repeated basis for three (3) consecutive funding cycles; or (b) due to suspension, termination or expiry of the relevant credit/debit card, stolen debit/credit card or closure of your bank account.
If you wish to change or stop your AutoSave funding method, this will only take effect prior to the next funding cycle. If you wish to stop the payment by credit/debit card, you must notify your bank and us before the termination. If your card is lost, stolen, expired, or terminated, you must also inform us in writing immediately. The termination of these forms of payment will only be effective when the message referring to the credit/debit card funding is no longer reflected in your Silver Bullion Account.
Order or Sellback cancellation, if initiated by you, shall be subject to our Market Loss Policy plus cancellation fee. Cancellation fees are calculated as 5% of the Order or Sellback total (minimum of SGD 45, whichever is higher). We may refuse new orders or Sellback until such fees are paid in full. We reserve the right to cancel any Order or Sellback if we are unable to complete the Order or Sellback due to causes beyond our control, the Order or Sellback is deemed questionable, suspicious, too significant of risk, incorrect in confirmed price, or in the case of an Order if payment has not been received within a specified time frame.
Upon cancellation of an Order or Sellback, you shall be liable for any price difference, which shall be the difference between the price at which we sold to you or bought from you and the prevailing market price or prices at the time of the cancellation ("Market Loss"). If the cancelled Order or Sellback is payable with cryptocurrency (e.g., bitcoin), you shall also be liable for any cryptocurrency price difference, which shall be the difference of the cryptocurrency lock-in price and the prevailing cryptocurrency price at the time of the cancellation. For the avoidance of doubt, you shall be liable for the cryptocurrency price difference under this paragraph when:
Any market gain and cryptocurrency price gain by us on cancellations shall not be refunded to you and shall remain our property.
The key terms that we use in this S.T.A.R. Gram Terms are in bold, including the following:
"Account Owner" has the meaning set out in the Account Terms.
"Allocated Bar" means the physical gold, silver, or platinum owned outright by you and stored at the Vault under a safekeeping or custody arrangement. Photos and information of the allocated gold is viewable through the S.T.A.R. Grams Explorer.
"AutoSave" means the service that enables users to issue a standing instruction to purchase certain quantities of S.T.A.R Grams product(s) at recurring intervals.
"Class I Nickel" are nickel products that tend to be LME deliverable and meet a purity standard of 99.8%, or better.
"Gold Gram" refers to the digital representation of the physical gold fractionally owned by the Account Owners S.T.A.R Grams.
"LBMA" means the London Bullion Market Association.
"Linked Bank Account" has the meaning set out in the Account Terms.
"LME" means The London Metal Exchange.
"LPPM" means the London Platinum and Palladium Market.
"Nickel Gram" refers to the digital representation of the physical nickel fractionally owned by the Account Owners S.T.A.R Grams.
"Order" refers to purchases of S.T.A.R. Grams product(s) from us, whether made through our Website, by telephone, by email, in person or in any other way.
"Platinum Gram" refers to the digital representation of the physical platinum fractionally owned by the Account Owners S.T.A.R Grams.
"Schedule of Charges" refers to the page on our Website that lists the standard fees and charges for our Services.
"Sellback" refers to your sale of S.T.A.R. Grams product(s) back to us, whether made through our Website, by telephone, in person, by email, or otherwise.
"Silver Gram" refers to the digital representation of the physical silver fractionally owned by the Account Owners S.T.A.R Grams.
"S.T.A.R. Grams" refers to the digital representation of the physical precious metals fractionally owned by the Account Owners, including among others, Gold Grams, Silver Grams, and Platinum Grams.
"S.T.A.R. Storage Account" has the meaning set out in the Account Terms.
"Vault" has the meaning set out in the Sale, Buyback, and Storage Terms.