KK Bullion Terms and Conditions of Sale

1 Definitions

In these Conditions:-1.1 The “Client” means the party contracting with KK Bullion Limited (acting as the general partner of KK Bullion Limited Partnership) for the sale or supply of goods under these terms and conditions;

1.2 The “Company” means KK Bullion Limited (acting as the general partner of KK Bullion Limited Partnership);

2 Confirmation of Transactions

2.1 No order for the purchase of Goods shall be binding upon the Company unless and until the Transaction is confirmed by the Company in writing with a trade number given to the Client. The date of such confirmation shall be the Transaction date for the purposes of the contract.

2.2 The Company, in its sole discretion, may discontinue accepting orders for the purchase of any Goods or alter or terminate its repurchase policy at any time without advance notice.

3 Acceptance and Variation of Conditions

3.1 The Client acknowledges that the Client has read and accepts these terms and conditions and the Website terms.

3.2 The Website terms and these terms and conditions shall apply to each Contract for the sale of the Goods entered into between the Client and the Company except in so far as they are varied in writing by the Company’s authorised representative.

3.3 All information supplied by the Client on registration with the Company must be fully correct at the time of application and absolutely all changes must be reported to the Company in writing as soon as practicable.

3.4 The Company reserves the right to refuse an application for registration at the Company's absolute discretion.

3.5 The Company reserves the right to alter any of the terms and conditions without prior notice, informing the Client of such changes immediately.

3.6 If the terms and conditions stated in the Client’s order are inconsistent with these terms and conditions, the Company’s acknowledgment of that order will constitute a counter offer being these terms and conditions and the Contract will come into force when the Client impliedly or expressly accepts the counter offer.

4 Passing of Risk and Ownership

4.1 The risk in relation to movement of the market price of the Goods shall be borne by the Client following the written confirmation of the Transaction by the Company.

4.2 Except as otherwise expressly provided herein, the Client is obligated to take delivery of the Metal or Coins in consideration of the purchase price originally established in the Transaction regardless of any subsequent change in the value of the Metal or Coins. The Client acknowledges that the price of metals and coins are volatile and the prices may therefore fluctuate significantly over time based on factors such as supply and demand among collectors and political and economic conditions.

4.3 Ownership of the Goods shall not pass to the Client until the Company has received in full all sums due to it in respect of the Goods and all other sums due.

4.4 Until ownership has passed to the Client, the Client shall:

4.4.1 hold the Goods on a fiduciary basis as the Company’s bailee; and

4.4.2 store the Goods separately so that they are identifiable as the Company’s property

4.5 The Client may resell the Goods before ownership has passed to is solely on the following conditions:-

4.5.1 any sale shall be effected in the ordinary course of the Client’s business at full market value;

4.5.2 any such sale shall be on the Client’s own behalf and the Client shall act as principal;

and4.5.3 the net proceeds of sale shall be the property of the Company, which the Client shall account to the Company on the Company’s demand.

4.6 The Client’s right to possession of the Goods shall terminate immediately if:-

4.6.1 The Client has a bankruptcy order made against him or (being a body corporate) enters into liquidation or has a receiver and/or manager, administrator or administrative receiver appointed of its undertaking or any part thereof;

or 4.6.2 The Client fails to meet any of his/its obligations under the terms of the contract;

or4.6.3 The Client encumbers or in any way charges the Goods.

4.7 Upon any of the events in condition 4.6 occurring all amounts payable in respect of the Goods shall become immediately payable and the Company shall be entitled to recover payment for the Goods notwithstanding that ownership of any of the Goods has not passed from the Company.

4.8 The Client grants the Company, its agents and employees an irrevocable licence at any time to enter any premises where the Goods are or may be stored in order to inspect them, or, where the Client's right to possession has terminated, to recover them.

5 Losses During Shipment; Force Majeure

5.1 Risk in the Goods shall pass upon delivery of the Goods to the relevant carrier and accordingly, the Company shall not be responsible for any loss or disappearance of any Goods while with any postal courier or otherwise shipped or delivered in accordance with this contract or with the Client's instructions for any Transaction(s). The Client is advised to take out appropriate insurance.

5.2 In the event of the manufacture or delivery of the Goods being prevented, hindered, interrupted or delayed by any act of God, transportation or shipping disruption or breakdown, failure of utilities or telecommunications, war, labour unrest, or any other event beyond the Company’s reasonable control, whether or not similar to the foregoing:

5.2.1 The obligations of the Company hereunder shall be suspended to the extent affected thereby;

and 5.2.2 The Company shall have no liability to the Client as a result thereof.

6 Payment

6.1 Unless otherwise agreed in writing by the Company payment in full and in cleared funds is required within two business days of the Transaction date and the Company shall not be required to deliver the Goods until such payment has been made.

6.2 The Company will accept payment in cleared funds or personal cheques, company cheques and bank drafts allowing one working week for clearing if drawn on a UK bank, being the preferred method of payment for small payments of under £10,000.

6.3 The Company will accept bank transfers as payment for transactions if agreed by the Company at the Transaction date.

6.4 The Company has discretion as to the currency of the purchase monies it will accept as payment and will confirm the currency it will accept on the Transaction date.

6.5 Unless otherwise agreed in writing, the Company will require security before entering into any contract, which will take the form of a deposit or full payment at the Company’s discretion.

6.6 If the Transaction is agreed over the telephone, the Company will require details of the Client’s name, address and telephone number at the date of the agreement. The Client shall fax or email the Company confirmation that payment has been effected providing all of the necessary identity details.

6.7 In the event that the Company has agreed it will accept payment by cheque, the Client shall post the cheque at its own risk by first class post in time to be collected and postmarked the same day as the Transaction date so that the cheque is received from the Client within two working days. 6.8 For large transactions and at the Company’s direction, cleared funds should reach the Company within 48 hours of the Transaction date.

7 Failure to Pay

7.1 If the Client fails to make payment when due the Company may in its discretion at any time thereafter sell the Goods covered by the Transaction without further notice to or authorisation from the Client (and without liability to the Client) and hold the Client responsible for any losses and costs incurred by the Company as a result.

7.2 The Client agrees immediately upon demand to pay and reimburse (from any deposit that the Client may have provided) the Company for all transaction fees and all losses incurred by the Company as a result of any such payment default by Client and subsequent sale of the Goods involved.

7.3 The amount unpaid by the Client shall incur compound interest at the rate of 3 per cent above the Bank of England base rate from time to time per month in respect of the whole or part of each month that the amount outstanding shall remain unpaid.

8 General Lien

8.1 Without prejudice to other remedies the Company may have in respect of unpaid debts, the Company shall have a general lien on all Goods or property in their possession belonging to the Client.

8.2 The Company shall be entitled to dispose of the Goods or property in any way seen fit to discharge the debt upon giving 21 days’ notice.

9 Delivery

9.1 Unless otherwise agreed in writing by the Company, the Company will endeavour to deliver the Goods to the Client via registered unsecured mail within two business days of receiving cleared funds for the purchase price.

9.2 At times of heavy demand or shortage of the Goods the Company may require additional time for delivery of the Goods and in such event will notify the Client accordingly.

9.3 Time will not be of the essence in relation to delivery of the Goods in view of potential delays in the Company receiving inward deliveries.

9.4 If the Client requires delivery to be guaranteed to occur by a particular date, the Client must state his requirements at the time that the Transaction is agreed as higher prices and/or stricter payment requirements may apply at the Company’s discretion.

9.5 The Company will not be liable for any losses arising out of late delivery of the Goods.

10 Identification and Notification (Except for Export Sales)

10.1 The Company will retain identification records for each Client for a minimum of six years.

11 Quality and Limitation of Liability

11.1 When dealing with a Client who is a consumer, the Company warrants that the Goods shall be of satisfactory quality within the meaning of the Sale of Goods Act 1979 and all applicable consumer protection legislation from time to time but no other warranty as to quality of fitness for purpose or otherwise is given.

11.2 Nothing in these terms and conditions excludes or limits the liability of the Company for death or personal injury caused by the Company’s negligence, for any matter which it would be illegal for the Company to exclude or attempt to exclude, or for fraud or fraudulent misrepresentation.

11.3 The Company’s total liability in contract’s tort (including negligence or breach of statutory duty), misrepresentation, restitution or otherwise, arising in connection with the performance or contemplated performance of the Contract shall be limited to the Contract price and the Company shall not be liable to the Client for loss of profit, loss of business, or depletion of goodwill in each case whether direct, indirect or consequential or any claims for consequential compensation whatsoever (howsoever cause) which arise out of or in connection with the Contract.

12 General

12.1 The formation, existence, construction, performance, validity and all aspects of the Contract shall be governed by English law and the parties submit to the exclusive jurisdiction of the English courts.

12.2 The Seller shall not be entitled to assign any part of this contract without the prior written consent of the Company. The Company may assign any part of this Contract to any third party.

12.3 If any provision of the Contract is found by any court, tribunal or administrative body of competent jurisdiction to be wholly or partly illegal, invalid, void, voidable, unenforceable or unreasonable it shall to the extent of such illegality, invalidity, voidness, voidability, unenforceability or unreasonableness be deemed severable and the remaining provisions of the Contract and the remainder of such provision shall continue in full force and effect.

12.4 The parties to the Contract do not intend that any term of the Contract shall be enforceable by virtue of the Contracts (Rights of Third Parties) Act 1999 by any person that is not a party to it.

12.5 Each right or remedy of the Company under the Contract is without prejudice to any other right or remedy of the Company whether under the Contract or not.

12.6 Time will not be of the essence to this contract.

12.7 In the event of any inconsistency between the Website terms and these terms, these terms shall be deemed to apply.

12.8 The Company shall accept no liability to the Client in respect of any claims made for infringement of patent rights, registered or unregistered designs, trade marks, copyright and any other intellectual property rights involved in the marketing of, use or resale of the Goods.