GoldSilver Vault Storage Customer Agreement

This Vault Storage Customer Agreement ("Agreement") is designed to provide GoldSilver customers with the utmost confidence and assurance that their precious metals are being stored and secured with maximum care.

The Agreement outlines the shared responsibilities between The Customer ("You"), GoldSilver LLC ("GoldSilver"), which markets, manages, and services your vault storage account, and any Designated Third-Party Storage Facility ("Designated Facility").

Please read all of the terms and conditions set forth, including, without limitation, the terms and conditions provided in hyperlink. You agree to the following terms and conditions set forth by GoldSilver and any Designated Facility that governs the delivery and storage of your precious metals and any cash balances remaining from the purchase or sale of precious metals ("Property").

  1. GoldSilver agrees to act as an agent to arrange allocated and/or segregated storage of your metals at a secure and insured Designated Facility of your choosing from among the options presented by GoldSilver at the time of your order. GoldSilver will charge You fees for this service in accordance with then published rates; You agree to pay these fees to GoldSilver.
  2. GoldSilver agrees to arrange for the delivery and storage of your Property to the Designated Facility you select when you purchase Property through GoldSilver. All delivery costs will be made at your expense.
  3. You agree to pay GoldSilver or Designated Facility transaction, shipping, servicing and/or transfer fees for all withdrawals, transfers, and/or sells from the storage account. All applicable postage, registration, and insurance charges will be included in your shipping fees on a C.O.D. basis. Personal pick-up fees for all Property shall be determined by Designated Facility.
  4. GoldSilver and/or Designated Facility shall arrange to keep your Property physically segregated at all times from the Property of other Designated Facility customers. Small quantities of Property may be stored in physical proximity, including in the same drawer or shelf within a vault, but shall be recorded at all times to designate that the Property belongs solely to You and arranged so it is easily audit-able and separable from the Property of others. Segregated storage assets shall be further physically segregated at all times from the Property of other GoldSilver customers. There shall be no shared title, security interest or lien on any unit of Property, except as designated herein for servicing of your account.
  5. GoldSilver and/or Designated Facility agrees to send you periodic statements of the Property stored in your account. You are obligated to notify GoldSilver or Designated Facility within thirty (30) business days of the mailing of such statements of any inaccuracies pursuant hereto.
  6. GoldSilver and/or Designated Facility shall obtain and maintain, at all times during the term of this Agreement, insurance payable to GoldSilver or Designated Facility in such amounts and against such risks as shall adequately cover the value of the precious metals in holding. Upon request, GoldSilver or Designated Facility shall furnish a certificate of insurance evidencing that such insurance is in force.
  7. GoldSilver and/or Designated Facility agree to insure your Property up to the maximum amount of holding from any for loss, damage or destruction while stored in Designated Facility. Liability shall commence when your Property has been received into Designated Facility's possession and shall be only terminated by GoldSilver, Designated Facility or your written request, and verifiable delivery to your designated carrier has been completed. It is expressly understood and agreed that GoldSilver's or Designated Facility's maximum liability for any loss or destruction of Property is up to, but not exceeding, the aforesaid liability, notwithstanding anything to the contrary contained in any invoice, receipt or other document delivered to or by GoldSilver or Designated Facility relating to any Property handled by GoldSilver or Designated Facility.
  8. If there is more than one owner of this account, the owners jointly and individually agree that the right to all of the Property held as Joint Tenants with Rights of Survivorship and not as Tenants in Common, and each owner is agent for the other in giving and receiving any notice or taking any other action affecting the Property held hereunder. Each owner shall have the full power, either before or after the death of the other, to receive all the Property in this account and upon the death of either, the right to all Property held pursuant hereto shall be the absolute property of the survivor. GoldSilver or Designated Facility is hereby authorized and directed to deal with the survivor as the sole and absolute owner thereof. The owners jointly and individually agree to indemnify and hold GoldSilver or Designated Facility harmless from any and all liability, loss or damage by reason of the delivery of the Property subject to this Agreement pursuant to this paragraph and agree that the terms hereof shall be binding upon themselves, their and each of their heirs, executors, administrators and assigns.
  9. You may use your Property in holding as collateral on your next order of precious metals, in lieu of using a credit card. However, you must have at least 20% or more of precious metals by value in holding than on order to place such an order.
  10. You grant GoldSilver and/or Designated Facility a security interest and lien on your Property stored hereunder to secure payment of storage fees and other proper charges and expenses associated with this Agreement. You also grant GoldSilver and/or Designated Facility a security interest and lien upon Property stored in your account for any other amounts you may owe GoldSilver or Designated Facility.
  11. You may be offered, at GoldSilver’s discretion, the ability to secure a loan agreement between You and a Designated Third-Party Lender (“Designated Lender”) using the Property in your account. Any time You are bound by an agreement with a Designated Lender, You also grant Lender a security interest and lien on your Property to the extent designated in the loan agreement.  You agree that GoldSilver and Designated Facility shall be privy to the full terms of all such agreements; may share with Designated Lender any and all information about the status of your account(s) with GoldSilver and Designated Facility; and may use its own interests in, liens against, or access to the Property to satisfy demands of the Lender under an agreement, including the sale of Property to cover interest, fees, and other proper charges and expenses under that agreement without further content from You.
  12. You agree to pay GoldSilver storage, handling, and servicing fees in accordance with the then-current fee schedule of GoldSilver. Fees are due and payable within seven (7) days of the date invoice is posted to your account or provided to you. Notwithstanding anything to the contrary contained in this Agreement, if You do not pay in the full and timely payment of any monies due to GoldSilver, including those imposed on behalf of your account by Designated Facility or Designated Lender, within thirty (30) days of the invoice date pursuant to this Agreement GoldSilver or Designated Facility may, in its sole discretion, exercise any one or more of the following remedies: (i) assess a late fee equal to the greater of thirty dollars ($30.00) per month or one and one-half percent (1.5%) per month of any amounts past due, for as long as the past due amount remains unpaid; and (ii) refuse to accept or honor any instructions from the customer with respect to any further deposits into, and/or any withdrawals from, the account.
  13. Upon your default hereunder, or upon your default on any other agreement with GoldSilver, Designated Facility, or Designated Lender, GoldSilver has the right to sell whole bars, coins, bags of coins, or certified coins in your account to recover any fees, expenses or debts that you owe to GoldSilver or Designated Facility.
  14. GoldSilver or Designated Facility shall remit to you any excess proceeds from the default sale, less any cost or expense relating to such sale. Remittance may include posting the excess proceeds as a fully refundable credit to your account.
  15. GoldSilver or Designated Facility shall not be liable for any failure to transfer or deliver Property stored hereunder as provided in instructions to it pursuant to this Agreement during any period in which GoldSilver or Designated Facility is prevented from doing so as the direct and proximate result of war (whether an actual declaration thereof is made or not), sabotage, insurrection, riot, act of civil disobedience, act of public enemy, act of any government or any agency or subdivision thereof, judicial action, labor dispute, explosion, storm, technical failure, unusual market conditions, fire or flood.
  16. Any notice by GoldSilver or Designated Facility may be given by any one of: (i) mailing same to you at your address in GoldSilver's or Designated Facility's records and shall be deemed to have been received by you on the fifth (5th) business day following the day of mailing; (ii) emailing you at your current email address in GoldSilver’s records and shall be deemed to have been received the next business day following the transmission of the email; (iii) posting a notice your private account section on its website and shall be deemed to have been received the next business day following posting. You are responsible for informing GoldSilver or Designated Facility of any change in your mailing address or email address, and it is your sole responsibility to monitor each of the methods for notice. Delivery failure because of failure to maintain records or access to methods of notice shall not constitute a lack of notice.
  17. Under this Agreement, neither GoldSilver nor Designated Facility makes any warranty concerning the weight, fineness, content, identification, authenticity, or value of any Property you place in your account.
  18. GoldSilver or Designated Facility and its officers and employees do not endorse any Property broker or dealer. GoldSilver or Designated Facility does not guarantee the investment of any customer. Investments in physical Property are typically long-term investments. Due to price fluctuations, short-term profits cannot be assured. Also, Property pays no interest or dividends. GoldSilver or Designated Facility makes no representations about the advisability of purchasing Property as an investment or financing such a purchase.
  19. You warrant that all representations made to GoldSilver or Designated Facility pursuant to this Agreement with GoldSilver or Designated Facility are true to the best of your knowledge and that your performance hereunder will comply with all applicable law.
  20. This Agreement constitutes the entire agreement between you and GoldSilver or Designated Facility. The invalidity or unenforceability of any provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement.
  21. You agree that this Agreement shall be governed by, and interpreted in accordance with the laws of the State of California, without regard to conflict of laws or principles.
  22. You and GoldSilver or Designated Facility agrees to waive your right to trial by jury. You and GoldSilver or Designated Facility further agree to resolve any disagreement or dispute by arbitration in the State of California under the Judicial Arbitration and Mediation Services, Inc. (JAMS) in accordance with the JAMS Commercial Arbitration Rules in Los Angeles, California.
  23. You shall indemnify and hold harmless GoldSilver or Designated Facility and its affiliates, directors, officers and shareholders from and against any and all costs, damages, expenses, liabilities and obligations, including, without limitation, reasonable attorneys' fees, that you may incur as a result of, or in connection with, (i) any breach of any representation or warranty made by you to GoldSilver or Designated Facility or (ii) your failure to comply with this User Agreement or the policies adopted by GoldSilver or Designated Facility.
  24. You represent and warrant that no Property to GoldSilver or Designated Facility here-under is or can be classified as hazardous material(s), substance (s) or waste(s), hereinafter referred to a hazardous materials as such terms are or may be defined, described or listed in any applicable federal, state or local laws, or pursuant to any governmental agency, instrumentality or department regulations or executive order.
  25. GoldSilver of Designated Facility shall not be liable for non-performance or delays of service or loss off or damage to Property caused by or resulting from (a) war, hostile or warlike action in time of peace or war; (b) insurrection, rebellion, revolution, civil war, usurped power or action taken by governmental authority; (c) chemical, biological, bio-chemical or electromagnetic weapon; (d) radio-active, toxic, explosive or other hazardous or contaminating properties of any nuclear installation; (e) any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter. This does not extend to radioactive isotopes, other than nuclear fuel, when such isotopes are being prepared, carried, stored or used for commercial, agricultural, medical, scientific or other similar peaceful purposes.
  26. If GoldSilver or Designated Facility cannot perform any obligation hereunder as a result of any event that is beyond its control, GoldSilver's or Designated Facility's delay or failure to perform such obligation shall be excused and GoldSilver or Designated Facility shall not be liable for any damages as a result of, or in connection with such delay or such failure.
  27. GoldSilver may amend this Agreement at any time by posting the amended terms on its website, at the URL, or its replacement or translated equivalent. The Amended terms will become effective immediately upon posting, except as otherwise provided in this Agreement.
  28. You, GoldSilver, or Designated Facility may terminate this Agreement at any time upon thirty (30) business days’ notice. Should such termination occur, you will be responsible for payment of all fees and costs incurred for removal of Property stored here-under.
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