Terms and Conditions
1. Definitions
- Buyer: The party contracting with the Company to purchase the Goods under these terms and conditions.
- Company: Refers to www.genordmcc.net, owned and operated by Genor DMCC, located in Dubai, UAE.
- Details: Any sensitive/personal data obtained by the Company during the Transaction.
- Goods: Precious metals in any form, including but not limited to gold bullion, investment coins, and silver bullion sold to the Buyer by the Company.
- Transaction: The sale of Goods under these terms and conditions by the Company to the Buyer.
- Website: www.genordmcc.net.
- You/Your: A person using the Website, including the Buyer.
- Spot Rate: The current market prices for Gold, Silver, Platinum, and Palladium displayed on the Website’s Home Page, updated regularly.
- Market Rate: The price set by the Dubai Gold & Jewellery Group, updated at least four times daily on trading days.
- Investment Gold: Gold of a purity not less than 995 thousandths in the form of a bar or wafer, with a weight accepted by the bullion markets.
2. Requirements for Use
- You must be at least eighteen (18) years old to conduct a Transaction with the Company.
- You must be a resident of the U.A.E. and provide documentary evidence of your address and personal identification as requested.
- You must provide all necessary Details to complete the two-stage initial registration process and any subsequent Transactions.
- You must ensure the completeness and accuracy of the personal Details provided.
- Any changes to your personal Details during the registration process or any subsequent Transactions must be immediately reported to the Company.
- You must accept and comply with these terms and conditions.
3. Prices and Payment
- The prices of Goods displayed on the Website are invitations to treat. The ‘live’ pricing is provided by a third-party feed, and the Company does not accept responsibility for unavailability or accuracy of prices. If there is an error, including but not limited to an obvious misquote, you will be informed as soon as possible, and you will have the option to cancel or amend the order to reflect the correct prices. Market fluctuations may affect the value of an order placed, which are beyond the control of genordmcc.net. In extreme cases, the Company may cancel your order without prior warning.
- Payments may be made in person at our offices by cash. For payments above AED 50,000 or that bring the total value of purchases above AED 50,000 in a month, customers must provide original documentation, such as a bank statement, identifying the cash source. All cash payments require prior appointment.
- Payments may be made by Bank Transfer within four working hours of order placement, including the Order ID generated at Checkout. Bank details are provided during the checkout process and in the Order Confirmation email. You may be requested to forward a scanned copy of your bank transfer payment record. The Company reserves the right to cancel an order if payment is not received by the specified deadline.
- Cash deposits to our bank account are not accepted and will not be refunded until the ownership and origin of the cash deposit can be proved to our satisfaction. Repayment of such deposits may take up to 30 days.
- Cash deposits will incur charges imposed by our bank and a fee of AED 500 to cover the cost of handling the matter.
- Transactions exceeding AED 50,000 may require a non-refundable deposit of 20% payable by bank transfer at the time of ordering.
- The Company reserves the right to hold payments and withhold shipment of orders until all necessary information and documentation are provided to comply with KYC protocols, Anti Money Laundering legislation, and other applicable laws or procedures.
4. Order Placement
- Orders can only be placed via the Website.
- The Details obtained by the Company are limited to ensure a secure Transaction and will not be disclosed to unauthorized third parties.
- The Goods displayed on the Website are invitations to treat, subject to the Company’s verification of the customer’s offer.
- An email confirming the acceptance of the Buyer’s offer will be sent after the Company receives the payment.
- All Goods are subject to availability. In case of unavailability, the Company may substitute with smaller products, subject to the Buyer’s approval before dispatch.
5. Order Cancellation and Refund Policy
- Orders can be cancelled by telephone within 1 business hour of the offer to buy, subject to an AED 150 cancellation fee and compensation for adverse price fluctuations.
- The Market Loss Policy protects the Company from adverse market movements due to cancellations. Cancelled orders are subject to a Market Loss Charge. Any market gain remains the property of www.genordmcc.net.
- No cancellations or refunds are accepted after 1 business hour from the acceptance of the customer’s offer to buy.
- Purchases from the Company are exempt from the Right to Cancel under Distance Selling Regulations due to market fluctuations.
6. Delivery
- For UAE residents, delivery by FEDEX to the address specified in the Details is preferred. The delivery fee will be added at checkout.
- For cash purchases by UAE residents and all purchases by non-UAE residents, collection in person from our offices is required.
- FEDEX will confirm delivery details and require proof of ID from the Buyer at the time of delivery.
- A re-delivery fee may apply if delivery is unsuccessful due to the Buyer’s actions.
- Ownership of Goods passes to the Buyer upon completion of the delivery process and receipt of payment.
- The Company is not responsible for delays caused by third parties or factors beyond its control.
7. Collection
- Collection from our offices is an option for UAE residents paying by Bank Transfer and is compulsory for non-UAE residents and cash payments.
- Collection is by appointment only, arranged by calling +97142017418.
- The Buyer must provide original documents for verification and allow the Company to retain copies before taking possession of the Goods.
8. Buy Back
- Prices for buy-back of LBMA and non-LBMA products are specified, with payment options including direct bank transfer or CHAPS/telegraphic transfers, subject to applicable fees. Cash payments up to AED 50,000 may be requested with 24 hours notice and proof of ID.
9. Limitation of Liability
- The Company does not exclude or limit liability for death, personal injury, or fraud caused by its negligence.
- The Company is not responsible for the Buyer’s unauthorized use of the Goods.
- The Company’s total liability is limited to the Transaction price. It is not liable for loss of profit, business, goodwill, or consequential claims.
- The Company makes no further warranties or representations regarding the provision of the Goods.
- The Company is not liable for incompatibilities, viruses, or website unavailability beyond its control.
- No party is liable for unforeseeable losses resulting from these terms and conditions.
10. Intellectual Property
- No licence to use any Company trade mark is granted under these terms and conditions.
- Website content is protected by intellectual property law. It may be used for private, non-commercial purposes with visible copyright notices.
11. Indemnification
- You agree to indemnify and hold the Company and its affiliates harmless from any claims arising from your use of the services, violation of these terms, or infringement of any rights.
12. Data Protection
- Personal information and payment details are protected in accordance with the Data Protection Act 1998.
- Customers may request a copy of their information, subject to an AED 150 administration fee.
- The Company maintains records of Transactions for a minimum of 6 years.
13. Telephone Calls
- Telephone calls may be recorded and treated as definitive evidence in case of disputes.
14. Miscellaneous
- Disputes arising from Transactions are governed by UAE law and subject to UAE courts.
- If any provision of these terms is found invalid or unenforceable, it does not affect the validity of the remainder.
- No third party acquires rights under these terms except as stated.
- The Company is not an investment advisor and is not liable for consequences of reliance on information provided. Investment values can fluctuate, and independent financial advice is recommended.