Welcome to RemingtonGold.com (the “Site”), operated by Remington Gold Group (“Company”). The Client, defined below, and Company hereby enter into this legally binding agreement (“Agreement”) between Client and Company, a California corporation incorporated under the laws of the State of California, having its registered office at 150 South Glenoaks Blvd. Suite 9241 Burbank, Ca 91502. The “Client” shall mean a person who is 18 years or older and/or any entity who/which conducts a transaction or places an order with Company, whether such transactions are made over the telephone or online. If Client agrees to this Agreement on behalf of a business, Client represents and warrants that Client has the authority to bind that business to this Agreement and the Client’s Agreement to these terms will be treated as the agreement of the business. In that event, “Client” will refer and apply to both that business and you.
By using the Site and/or engaging in transactions with Company, Client acknowledges that Client has read and agrees to be legally bound by this Agreement. If Client does not agree to any of the terms set forth herein, Client may not use the Site or engage in transactions with Company. The terms herein are subject to change at any time without notice and it is Client’s responsibility to review this Agreement regularly to ensure that Client is aware of the changes.
This Agreement shall govern all relations between the parties and apply to any and all transactions between Client and Company.
Due to the unpredictable nature of commodity markets, the buying or selling commodity products, such as precious metals and coins, involves a high degree of inherent risk and there can be no guarantee of future profits. Additionally, Company’s past performance shall not assure the same future. Client hereby acknowledges and declares that Client has read and understood this Agreement and is aware of the nature and extent of Client’s rights and risks when purchasing such products.
Client acknowledges that Company and its staff do not act as personal investment advisors for any specific individual, nor does it advocate the purchase or sale of any regulated securities for any specific individual. Company is only a seller and purchaser of precious metals, and Company cannot guarantee, and makes no representation, that the precious metals will appreciate at all or appreciate sufficiently to make Client a profit at the expiration of this or any other period of time. Any written or oral statements by Company, its officers, agents, sales representatives, or other representatives relating to future events or the attributes of certain products are opinions only. Such statements, if any, are not representations of fact. Client understands that, in Company’s opinion, precious metals should be considered a long-term investment and Client should be willing to hold on to the products it purchases for at least three (3) to five (5) years, preferably five (5) to ten (10) years, to maximize the potential for gains. In Company’s opinion, Client should only invest capital that can be held for at least this period of time. Precious metals, like all investments, carry capital risk. Client acknowledges that (i) no fiduciary relationship exists between Company and Client, (ii) the decision to purchase or sell the precious metals, and which precious metals to purchase or sell, are the Client’s decision. The decision of whether to purchase or sell precious metals should be made by the Client after independent research and analysis of the Client’s financial needs and circumstances and after obtaining independent financial or tax advice as is appropriate. By conducting any transactions with Company, whether through the Site or over the telephone, Client understands that Company shall not be responsible for any losses caused by Client’s investment decisions, nor does Company have any claim to any market gains that Client may enjoy as a result thereof.
Company reserves the right to refuse, void or liquidate orders from customers who fail, or who have previously failed, to honor their commitments, who violate Company’s policies, or where potentially fraudulent activity is detected. To further protect against fraud, Client acknowledges and agrees that Client’s phone transactions and conversations will be recorded and Client hereby consents to such recording as a condition of doing business with Company. In the unlikely event of a lost or stolen shipment, Client agrees to fully cooperate with any investigation conducted by Company, law enforcement, postal authorities and insurance adjusters.
Unless otherwise agreed to in writing, Company shall cause all products purchased by Client to be delivered to Client’s address by a reliable carrier (e.g. Federal Express, USPS or UPS) with acknowledgment of delivery signature required. Client will provide Client’s delivery address to Company at the time of placing Client’s order. In the alternative, if requested by Client, Company shall assist Client in transferring the products purchased by Client to held at a state-managed storage depository account under the Client’s control, subject to the terms in paragraph 5 below. Client agrees to cooperate with Company and provide all necessary information in order for Company to facilitate the transfer of precious metals to the appropriate depository account.
3}RETURNS AND REFUNDS.
If for any reason, the Client is not satisfied with Client’s order, Client will have 3 days after Client’s receipt of shipment to notify Company by calling 1-877-474-3403 of Client’s dissatisfaction. The decision to refund or replace your item will be at the sole discretion of Company. Original shipping and handling charges are non-refundable. Returned items will be subject to the Client paying return shipping and product value losses, if any. All orders submitted for refund or exchange are subject to a 10% restocking fee. All items must be returned in original packaging. In the case of a request for an exchange, Company expressly reserves the right, in its sole and absolute discretion, to find an acceptable replacement or refund your money should an acceptable replacement be unavailable. In the event the carrier (USPS, UPS, or Fed Ex, etc.) attempts to deliver to you a damaged package, you should refuse to accept delivery of the shipment so that insurance coverage can remain in effect.
4}FEES AND COMMISSIONS.
The price Client has been quoted and agreed to pay includes Company’s profit margin on the transaction. The difference between Company’s cost of the precious metal and the retail price quoted to Client is known as the “Spread”. Spreads may vary by several factors including, but not limited to customer, time, and precious metal. Currently, (i) Company’s Spread on bullion coins and bars (as classified by Company), except those referenced in paragraph 4(ii) below, is between five percent (5%) and ten percent (10%); (ii) Company’s Spread on bullion coins that are produced in very limited quantities or larger than one ounce under high demand (as determined by Company) is between six percent (6%) and eighteen percent (18%); (iii) Company’s Spread on Simi-Numismatic coins (as classified by Company) is between six percent (6%) and eighteen percent (18%); and (iv) Company’s Spread on Numismatic coins (as classified by Company) is between six percent (6%) and eighteen percent (18%). These numbers are general ranges and approximations, which are subject to change based on market conditions, availability, supply and demand.
Company’s pricing and Spreads shall be the same whether precious metals are purchased for direct delivery or for placement in an IRA.
Client acknowledges and agrees that Company does not store any precious metals and is not responsible for any storage or insurance of precious metals that Client purchases. If requested by Client, Company shall assist Client, as a courtesy, in arranging for any precious metals Client purchases or Client rolls over from an IRA to be transferred and stored in a private state-managed depository account under Client’s control and to which the Client will have full access. Client will be responsible for any storage, depository or insurance fees and costs charged by the third-party depository.
Client hereby releases Company of any liability with respect to the transfer, handling and actual storage of the precious metals.
6}TERMS OF PAYMENT.
The purchase price will be paid in advance. Otherwise, Company reserves the right to terminate the contract. In case of a late payment or non-payment, Company’s right to damages shall be, at a minimum, equivalent to the price variation occurred in the meantime for the products on the financial market. Company reserves full ownership of the shipped merchandise until reception of full payment of the delivery invoice.
Whether a precious metal is classified as Bullion, Simi-Numismatic or Numismatic may turn on a number of objective and subjective factors, including but not limited to the age of the precious metal, its condition, the number of known copies, likelihood of additional minting, relevant historical events or owners, and an investor’s personal attraction to the piece. The impact of these events cannot be predicted with certainty on the value of precious metals and therefore prices and value may rise or fall over time and Company makes no representations or guarantees concerning the future performance of any purchase, including whether the precious metals purchased will appreciate. Company’s classification of precious metal is only an opinion and may change over time. Given the subjective nature of the classification process, it is possible that other dealers or investors may classify the same coin differently. Company’s prices and Spreads are based on Company’s classification determination.
Company is not a grading service. Company does not independently assess the graded precious metals it purchases but relies upon the opinions and assessments of independent grading services. Client acknowledges that grading standards are constantly evolving, and Company does not guarantee that the graded precious metals it sells will achieve the same grades in the future. Grading is a determination that is based on subjective factors and is based on the opinion of the cataloger (or grader) as to the state of preservation, method of strike and overall appearance of a particular precious metal.
9.GOLD AND SILVER ROUNDS.
If Client orders any gold or silver rounds, for the avoidance of all doubt, Client is again advised that “rounds” are not legal tender “coins,” they are not (and do not purport to be) numismatic items and are not minted by any government. Rather, they are low-cost, privately minted products which are almost exclusively valued for their precious metals content. Furthermore, no items available for sale by Company are imitation numismatic items, replicas, or copies of actual coins.
Company makes no representations regarding the tax consequences of holding precious metals as an investment in an IRA. Client expressly acknowledges that Client has been advised to seek independent tax advice, from a qualified professional regarding the tax consequences of such investment.
Client acknowledges that the precious metals sold by Company are sold on as “as is” basis and Company makes no representations or warranties, express or implied, and specifically disclaims any warranty of merchantability or fitness for a particular purpose.
13}LIMITATION OF LIABILITY.
Company is only responsible for executing the reasonable instructions received from the Client. The Company does not and will not advise the Client on the purchase or sale of any precious metals and the Client is advised to seek proper counsel from licensed financial advisors.
Company shall in no way be liable in case of any telecommunication means failure, whether due to the serve hosting the Site or non-receipt of emails, copies or letters sent by Client. Company assumes no liability for delays or failures in the performance of its obligations if such delay or failure is due to unforeseen events beyond Company’s control and which constitute force majeure events. Force majeure events that may terminate or suspend the Company’s obligations include, but are not limited to, Acts of God, earthquakes, war, riots, embargoes, government actions, floods, fire, total or partial stoppage of supply, failure of the carrier, strike, third party actions, failure or errors in Company’s internal computer systems, and any external event that is likely to delay, prevent or make expensive the implementation of Company’s obligations.
UNDER NO CIRCUMSTANCES WILL COMPANY, ITS OFFICERS, DIRECTORS, EMPLOYEES, PARTNERS, OR AGENTS BE LIABLE OR RESPONSIBLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL (INCLUDING DAMAGES FROM LOSS OF BUSINESS, LOST PROFITS, LITIGATION, OR THE LIKE), SPECIAL, EXEMPLARY, PUNITIVE, OR OTHER DAMAGES, UNDER ANY LEGAL THEORY, ARISING OUT OF OR IN ANY WAY RELATING TO ANY TRANSACTIONS COVERED BY THIS AGREEMENT, EVEN IF COMPANY IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN ADDITION, COMPANY’S LIABILITY TO CLIENT FOR ANY REASON AND UPON ANY CLAIMS SHALL AT ALL TIMES BE LIMITED TO THE AMOUNT ACTUALLY PAID BY CLIENT FOR THE PRECIOUS METALS IN DISPUTE.
Client agrees to abstain from making any operation, through the intermediary of Company that could be construed as money laundering and declares that the remittance of all and any funds which have been or which at any time in the future may be remitted for the account of Company does not and will not constitute a money laundering offense as defined in the Bank Secrecy Act as amended by the Patriot Act and that the funds are not of illicit origin or otherwise derived from any criminal activity. Client hereby guarantees that the funds used for the transaction have been duly declared to the fiscal authorities of Client’s country of residence and/or citizenship. Client will not be permitted to purchase precious metals using a bank transfer from a third-party account.
15|GOVERNING LAW, JURISDICTION AND ARBITRATION.
This Agreement shall be construed in accordance with and governed by the laws of the United States and the State of California, without reference to their rules regarding conflicts of law. Jurisdiction and venue for any dispute, claim or controversy arising out of or relating to this Agreement or any other interaction between Client and Company, shall be in Los Angeles, California and any party making a claim against Company hereby submits to personal jurisdiction in that forum for any and all purposes.
Any dispute, controversy or claim (“Dispute”) arising out of or relating to this Agreement, or the breach, termination or invalidity thereof, shall be first be addressed between the parties. Any party asserting a Dispute, shall send a written notice to the other party with a detailed description of the Dispute and the relief requested. The parties shall resolve such Dispute in good faith through direct negotiations. If the parties are unable to resolve the Dispute by direct negotiations, the parties shall submit the Dispute to mediation through JAMS in Los Angeles, California. The parties shall mutually agree on a mediator. If the parties are unable to agree on a mediator within thirty (30) business days, then either party may request the appointment of a mediator and JAMS shall appoint a retired judge to serve as the mediator. All costs for mediation shall be split by the parties equally. If the parties are unable to resolve the Dispute through mediation, then the allegedly aggrieved party may proceed to submit the Dispute to arbitration through JAMS in Los Angeles, California, which arbitration shall be final and binding and brought before one arbitrator. The arbitration shall be administered by JAMS pursuant to its arbitration rules.
Client and Company expressly WAIVE THEIR RIGHTS, IF ANY, TO BRING ANY CLAIM THAT IS SUBJECT TO THIS ARBITRATION PROVISION AS A CLASS ACTION OR OTHERWISE ON A REPRESENTATIVE BASIS. JUDGEMENT ON ANY AWARD MAY BE ENTERED IN ANY COURT HAVING JURISDICTION.
Client and Company agree to maintain the confidential nature of the arbitration proceeding, transactions relating thereto and an award, if any, except as may be necessary to prepare for or conduct the arbitration hearing on the merits, or as may be required by law or judicial decision. The parties agree that a breach of this confidentiality provision would irreparably harm the non-breaching party, and further agree that such breach shall entitled the non-breaching party to seek injunctive relief and/or compensatory damages for the breach.
In the event of any Dispute, the prevailing party shall be entitled to recover its costs, including reasonable attorneys’ fees incurred in connection with the Dispute.
Except as otherwise provided by law, any claim or legal action arising in connection with any transactions conducted pursuant to this Agreement or any other conduct of Company, must be brought within one (1) year after the purchase or sale or other event giving rise to the alleged claim.
If any provision of this Agreement shall be adjudged by any court of competent jurisdiction to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary so that this Agreement will otherwise remain in full force and effect. No waiver of any term of this Agreement shall be deemed a further or continuing waiver of such term or any other term, and Company’s failure to assert any right or provision under this Agreement shall not constitute a waiver of such right or provision.
BY ENTERING INTO TRANSACTIONS WITH COMPANY AND USING COMPANY’S SERVICES, CLIENT ACKNOWLEDGES THAT CLIENT HAS READ THIS TRANSACTION AGREEMENT AND AGREES TO BE BOUND BY IT.