Whereas the Saveez Gold is a product/mobile application/website/intermediary offering digital gold services, in the capacity of an intermediary only, and is operated and controlled by SAVEEZ FINANCIAL SERVICES PRIVATE LIMITED, having CIN U67190TG2021PTC148251, and its registered office at 6-3-678/1, 102, BHAN'S AAROHAN PLAZA BEHIND JOY ALUKAS PANJAGUTTA HYDERABAD Hyderabad TG 500082 IN. That the same may hereinafter be referred to as the ‘Platform’ or ‘Company’.
Whereas the user hereby understands that he and Saveez shall be bound by the following terms and conditions.
<>Whereas the Platform has contracted with Augmont Goldtech Private Limited (Formerly Augmont Precious Metals Private Limited) (hereinafter referred to as ‘Augmont Gold’), for processing and delivering all orders placed through the platform. The user hereby acknowledges that the Platform is merely an intermediary. That further, the user by accessing the services on the platform is deemed to have agreed with the terms and condition, and other policies, of Augomont. The user is advised to apprise himself of the same from https://www.augmont.com/terms-conditions
and the official website and records maintained by Augmont. The Company retains an unconditional right to modify or amend this Terms and Conditions without any requirement to notify You of the same. That in the event the User is not agreeable with any policies, terms, conditions, covenants, undertakings, promises, indemnities, warranties etc. of Augmont he is advised to immediately desist from using the Platform in any manner.
Whereas the charges payable by the Customer(s) for various Transactions including but not limited to the Customer Charges and the breakup/components thereof, shall be as determined by Augmont from time to time.
Whereas this document is an electronic record in terms of Information Technology Act, 2000 including any amendments thereof, from time to time, the rules thereunder as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This is being published in accordance with Rule 3(1) of the Information Technology (Intermediaries Guidelines) Rules, 2011. This electronic record is generated by a computer system and does not require any physical and/or digital signatures.
Whereas the user hereby acknowledges that the present terms and condition, and any other policies, Platform Charges and any of the terms and conditions and policies of Augmont, and any User Charges determined by Augmont from time to time, maybe changed and/or amended at any point in time without prior approval or information of the User and such changed and/or amended terms and conditions and policies and charges shall continue in full force to govern the relationship between the parties. That therefore the user hereby acknowledges that he alone shall be responsible for routinely checking the said terms and conditions and policies.
Whereas Saveez, in the capacity of an intermediary, holds no responsibility or liability for the fulfilment of any attributes and/or characteristic of the physical gold, such as relating to quality, quantity, security, delivery, prices, returns, refunds, purity, and/or any other attributes or characteristics relating to gold. That the user hereby shall hold Saveez harmless for any loss or dispute or claim or actions arising from the same. That any dispute in regard to the same shall be raised against, and taken up with, Augmont Gold only.
Whereas the user has understood that the Gold is being offered for purchase by Augmont Gold, and the User can also sell the Gold through Augmont Gold. As per the terms and conditions of Augmont Gold, the Gold purchased by You will be accounted in a customer account maintained by Augmont Gold, which is referred to as Gold Accumulation Plan (GAP), and the corresponding quantity of gold in physical form will be storied with “Custodian” engaged by Augmont Gold from time to time. In order to safeguard Your interest, Augmont Gold has also appointed a trustee (“Trustee Administrator”), and You agree to the appointment of such Trustee Administrator and the Custodian, and also accede to the terms for such arrangement with the Trustee Administrator (being the Trustee Administrator agreement, or any other contract or arrangement between Augmont Gold and the Trustee Administrator). The Trustee Administrator shall be responsible for monitoring the physical gold held on Your behalf with the Custodian.
Whereas the User hereby agrees that a reference to "Gold" means 24 karat gold bullion having fineness of 999. Each reference herein to gram means fine gram.
Now Whereas in light of the above covenants the User is hereby called upon to carefully peruse the present terms and conditions which are deemed to have been accepted by him;
1. COMPETENCE AND IDENTITY OF USER
That the user by registering onto the platform, or in any manner using the services available on the platform, hereby declares that he is over the age of 18 years and that the User is competent to enter into a legal enforceable and valid contract, as per the provisions of the Indian Contract Act 1872, or any other relevant law in force. That the User is hereby called upon to not continue any registration, or use of the platform in any manner, if the User is not competent to enter into a legally enforceable contract for any reason. Without prejudice to the same, in the event a User, being not competent to enter into the contract, uses the Platform in any manner, Saveezy and Augmont reserve the right to proceed against such user or any guardian, parent, custodian, attorney holder, etc. as the case maybe, of such User, in the event of any disputes or claims.
That in the event a User is accessing the platform on behalf, or to the benefit of, any person who is a minor, or if such person is not competent to enter into a contract, then such User hereby undertakes that he is the legal guardian, parent, custodian, attorney holder, etc. as the case maybe, of such person, and he is competent to enter into a contract on behalf of such persons, and any transaction on the platform on behalf of such persons is to the benefit of such person and legal as per the laws of India. In such cases the person for whose benefit the platform has been accessed shall be treated as a User for the purpose of the present terms and conditions.
Further, by using the Platform, You confirm that you are not registered under any applicable Goods and Services Tax Act, 2017 and that if, in the course of your relationship with our Platform and/or Augmont Gold, you become registered under the applicable Goods and Services Tax Act, 2017, you shall inform Augmont Gold of your change in status immediately, and no later than 24 hours of such change, and provide any relevant information and documents, as may be requested by Augmont Gold. The Company shall not be liable for any actions that may be undertaken by Augmont Gold pursuant to change of Your status on registration under the applicable Goods and Services Tax Act, 2017. If necessary, the User shall seek independent tax advice, and these Terms and Conditions do not constitute any tax advice to the user.
2. REGISTRATION ON PLATFORM BY USER
To enable the User to enter into any Transaction, the User will be required to open a GAP (Gold Accumulation Plan) account with Augmont Gold using the Platform. The User at the at time of opening the Account shall be subjected to (i) 2 (two) factor authentication as may be required by the Platform from time to time, and (ii) compliance with the defined registration process that maybe put in place by the Platform from time to time and further subject to terms and conditions of Augmont and Augmont KYC requirements as applicable and made available by Augmont.
That on the User’s registration being successful and proper the User will have to assign a username and password for his account on the Platform. The User is responsible to ensure that such account information is not shared with any other person. The User is responsible for any loss that the User might suffer on account of any leaks into his account due to the User not protecting his password and other account information.
“KYC/Know Your Customer” shall mean Know Your Customer where Customer’s Proof of Identity (POI) and Proof of Address (POA) is verified. That at the time of registration the user would be subject to the following KYC Requirements. That the said KYC requirements are merely indicatory and the Platform shall be at liberty to amend/modify the same without notice.
The User would be required to provide true and correct name, as reflecting in his PAN Card, or any other identification proof that maybe allowed by the Platform from time to time, his State and PIN CODE to the Platform at the time of opening of the GAP account. The User shall also be called upon to upload a true and correct copy of his PAN Card. The User hereby undertakes that the details submitted would be true and correct throughout the span the User invests on the Platform, and on any change in the details the User shall alone be responsible to update the details onto the Platform immediately.
A User may also be called upon to furnish additional details in the event User KYC guideline for User with GAP account balance over threshold prescribed inapplicable Laws is provided. The User shall cooperate in furnishing the said details and shall not create any impediment for furnishing the same. Without prejudice to the foregoing, in the event the Platform requires any additional information regarding any User then User shall procure and provide such information and shall assist and co-operate with the Platform for the same.
That in addition to the above general KYC requirements the User may also be required to furnish other personal details such as age, gender, e-mail, residential address and registered mobile number, during the registration process. The user shall be required to verify his identity by validation through a One Time Password (OTP) which maybe shared on the registered mobile number and/or e-mail. The user may also be called upon, from time to time, to furnish additional data, if so required by Saveez, for the purposes of the present agreement.
That the User, in order to purchase the services available on the platform, maybe required to furnish personal financial data to the payment gateway. Such data may include credit/debit card information, expiration date of such card, CVV, billing address, UPI details, mobile wallet details, bank account details, etc. The user may also be required to validate additional instructions and/or mandates to their respective bankers, as the case maybe. The User hereby understands that Saveez bears no responsibility for the financial data and payment, as the same is regulated, protected and controlled by the payment gateway only.
If there is any change in the account information, the User is also liable to promptly update such account information on the Platform. If the User, at any point in time, provides any information that is untrue, inaccurate, not current or incomplete (or becomes untrue, inaccurate, not current or incomplete), or if Saveez has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, then Saveez has the right to suspend or terminate the User’s Account and refuse any and all current or future use of the Platform (or any portion thereof) at its sole and absolute discretion, in addition to any right that the Saveez may have against the User at law or in equity, for any misrepresentation of information provided by the User.
The User hereby understands that such data shall be stored and retained by Saveez and maybe used by it for the purpose of using the platform and/or for any marketing campaign and/or for any third-party services. That for the said purpose user hereby undertakes that he shall only furnish information which is true and correct at all times, and if at any time it is discovered by Saveez that such data is not accurate or false it may suspend or terminate the user’s account.
The User by registering and/or using the Platform hereby grants consent and permission to the application or website, as the case maybe, to access additional data stored within the mobile devise or any other computer devise, as the case maybe. Such access to data shall include, but may not be limited to, access to phone contacts and SMS services.
The user at all times shall be responsible to ensure that his account is being used for his own benefit and is not being used by any other person and the user alone is responsible for all user activities. That any communication that maybe received from the account of the User shall be deemed to be a communication from the user himself. Hence, if the user at any point in time, has even the mere apprehension that he is not in control of his account, the user is responsible to take steps to regain control of his account by taking remedial steps such as changing his password and/or closing his account. Saveez shall not be responsible in any manner in the event the User loses control over his account.
On registration onto the platform the user hereby consents and grants permission to Saveez to send the user communications, in the form of newsletters, promotional offers, information on third party services, instructions on the use of the platform, etc.
The parties hereto agree that Saveez shall have complete authority to suspend or refuse service to a user, terminate an account, cancel orders, or remove any offending content in an account, and Saveez shall have absolute discretion in such matters.
Saveez cannot and will not be liable for any loss or damage arising from the User’s failure to comply with these Terms and Conditions. The User may be held liable for losses incurred by Saveez, or any other user of or visitor to the Platform, due to authorized or unauthorized use of the User’s Account as a result of the User’s failure in keeping his Account information secure and confidential.
3. THE PLATFORM AND ITS SERVICE
That Augmont, along with an Independent Trustee, will be the custodian of physical Product/gold and be responsible for the digital Product/gold lying in Customer’s GAP account till earlier of the following (i) transfer of Product to another Customer’s GAP account; (ii) sell back by the Customer(s); (iii) redemption as per instructions of the Customer(s) and dispatch by Augmont.
That Platform has been developed in partnership with Augmont for the purpose of sale and dealing with digital gold order. The user hereby undertakes to be under complete knowledge that all orders placed on the platform shall be transmitted and processed by Augmont and the User by registering and using the Platform is deemed to have accepted the terms and conditions and other policies of Augmont. Whereas Saveezy, in the capacity of an intermediary, holds no responsibility or liability for the fulfilment of any attributes and/or characteristic of the physical gold, such as relating to quality, quantity, security, delivery, prices, returns, refunds, purity, and/or any other attributes or characteristics relating to gold. That the user hereby shall hold Saveezy harmless for any loss or dispute or claim or actions arising from the same. That any dispute in regard to the same shall be raised against, and taken up with, Augmont only.
That the User is hereby aware that the Platform shall collect and store the data of the user and shall be at liberty to use the same as per the present terms and conditions.
That the User undertakes to comply and fulfil all the requirements relating to Know Your Customer (KYC) that maybe put in place by either Saveez or Augmont Gold or that maybe mandated by the concerned governmental authorities from time to time. As a general practice all KYC shall be carried out through verification of PAN Card. The user, whenever called upon, shall be required to upload or provide a clear and legible copy of his PAN Card and upload the same either on the platform or on the portal of Augmont. Such KYC shall be an essential requirement for fulfilment of orders of gold, specifically when digital gold is being converted to physical gold, the user requests delivery of gold, or when the gold is sold back. Hence, the user is hereby advised to ensure that he is in possession of a validly issued PAN card before proceeding with any transactions on the platform.
The user is hereby made aware that any content on the Platform, or any literature that maybe issued by Saveez from time to time, shall not be treated as investment or financial advise in any manner. That any transactions on the platform shall be deemed to have been undertaken by the User as per his own understanding and reasoning and at his sole volition and will. That Saveez shall not be liable for any loss that the User might incur through use of the Platform.
The User shall use the Platform only for the purpose of investment and purchase in digital gold. The user shall at no point in time publish or make available to the public or to any other person, any data available on the Platform such as gold prices, articles or information related to digital gold investments, etc that maybe made available on the Platform from time to time. The user hereby also undertakes that he shall not copy or transmit any data, in any form, that maybe made available on the platform.
The user hereby understands that when registering and signing up for the services on the Platform he maybe prompted to select a savings schemes/plans. These plans have been structured in order to facilitate the User to make savings routinely and regularly. The deductions from the money account of the user, which the user will register with the payment gateway, will be made as per the instructions/mandate that the User approves in favour of the payment gateway. As stated above, the Saveez shall not be responsible for any transactions between the User and the Payment Gateway. The said schemes are briefly elaborated hereunder without prejudice to the generality of the same.
Roundup- Under the present plan every time the User does any spending, the Platform shall round-up and save for the user effortlessly, thereby transferring the difference of the rounded up amount and actual spending into the User’s account which shall be used for purchase of commensurate value of digital gold. The User shall be at liberty to fix the value of rounding off to the nearest 100 or 250.
Proportion- Under the present plan the User shall be called upon to fix a proportion of his spend. The proportionate amount of the actual spending would be transferred to the User’s account and used for purchase of commensurate value of digital gold.
Fix Value- Under the present plan the user shall determine a fixed amount for a specified time period (like monthly, daily, etc.) and the said fixed value shall betransferred routinely over the time period selected to the User’s account for purchase of digital gold.
That the User shall be at liberty to not subscribe to any of the above plans/schemes and shall be at liberty to make investments or purchase of digital gold on the Platform as per his desires.
That it is understood and agreed that, as set forth in the present terms and conditions, ownership and title in respect of Gold accumulated by a User under GAP shall remain with such User provided however that, the foregoing shall not apply to any lien which is automatically created under any mandatory provision of applicable Law.
4. PURCHASE ORDER PLACEMENT SCHEME
That the Platform enables the User to purchase gold through Augmont. That in this respect the gold purchased shall
reflected in the GAP Account of the User, subject to the present terms and conditions. That provided hereunder is a brief mechanism of the Order Placement Scheme. That the said scheme is merely indicatory and maybe amended from time to time by the Platform.
That all orders of the User, such as Customer’s Purchase Order, Transfer Instruction Favouring Customer, Customer Redemption Instruction, Sale Back Order etc., or any activity by User shall be an acknowledgement that the User has been advised to read and understand the present terms and conditions and the user has accepted the same.
That the Platform shall be deemed to make an ‘Invitation to Offer’ with respect to Gold basis the Live Rate of Gold- Purchase. The User desirous of purchasing Gold under GAP, can place Customer Purchase Order(s) on the Platform for purchasing Gold for a minimum of Rs. 1.00 (Rupees One Only) and above incremental value thereof at the Live Rate of Gold-Purchase. That, at all time, the Live Rate of Gold- Purchase, as provided and updated by Augmont, shall be on the Platform and the said rate shall be final and binding upon any transaction that the User undertakes on the Platform. That the User shall raise no dispute on such rates and is deemed to accept the same when making any transaction on the Platform.
That the for the purchase of any Product/Service/Gold on the Platform the User shall be
required to place a customer purchase order on the Platform. “Customer Purchase Order” shall mean an order placed by the User for purchase of Product/Service/Gold and is said to be concluded when the User has made a payment of applicable Customer Charges for purchase of Product/Service/Gold using the Platform and such charges have been transferred to Bank Account so held by Augmont (hereinafter referred to as “Bank Account”).
That the User shall have to utilize the service provided by the Payment Gateway for making payment against any order placed by the User on the Platform. That for the said purpose User shall be required to furnish relevant details and information, relating to mode of payment, on the Payment Gateway. That the Payment Gateway may offer different modes of payment through different valid payment instruments, such as credit/debit cards, net banking, UPI, mobile wallets, etc. That all personal data associated with such payments shall be maintained and processed by the Payment Gateway alone and Saveez, or Augmont, shall have no role or liability towards the same. Further, all issues relating to payments, such as but no limited to, bank account of the User being debited but order payment not received by the Platform and/or Augmont and/or order confirmation not provided on the Platform due to amount not being received by the Platform and/or Augmont, shall be addressed by the User to the Payment Gateway and his bank only and Saveez or Augmot shall not be liable for the same. That in addition, subject to the User subscribing to any plan/scheme involving routine or automatic debit from the User’s bank account, or any other account so designated by the User, the User shall be required to furnish the relevant standing instruction/mandate/instruction to its Bank, using the Payment Gateway. Any issues or grievances with respect to processing of such standing instruction/mandate/instruction by the Payment Gateway shall be taken up by the User with the Payment Gateway only.
On receipt of (i) Customer Purchase Order, through the Platform, and on confirmation from the Platform regarding receipt of payment of applicable Customer Charges and the purchase price through Partner Platform by a valid Payment Instrument, and receipt of Customer Charges and the purchase price by Augmont in its Bank Account, Augmont will either (a) send the Sale Confirmation to concerned Customer, or (b) reject the Customer Purchase Order. It is clarified that after Sale Confirmation by Augmont, the Customer Purchase Order cannot be cancelled, revoked and/or suspended by the User for whatsoever reason. It is further clarified that the sale is made by Augmont to User, and the Platform is only acting as an online platform / intermediary (as defined under the Information Technology Act, 2000 and the Rules there under) to provide such Partner Services. At no time during the transaction does title to Product or liabilities thereof attributable to Augmont and/or the User, as the case maybe, get transferred to Partner.
Upon Sale Confirmation, Augmont will allocate and set-aside equivalent quantity of physical Gold purchased by the User in a thirdparty vault which will be jointly controlled and monitored by Augmont and an Independent Trustee and shall hold the Customer’s Gold as a custodian. Title and ownership of the said Gold will pass / transfer to the User, at the time of Sale Confirmation by Augmont, and thereafter Augmont and an Independent Trustee will only act as a custodian of the Product subject to the present terms and condition, as also the terms and conditions/agreement/contract/ policy of or with Augmont,. Augmont has represented that the Gold physically held by Augmont against Customer’s Product will not be reinvested, sold or used to secure / avail any further return / benefits/ interests.
That Augmont will, at its sole discretion, reject any single purchase of Rs. 2,00,000 or more than Rs. 2,00,000/- (Rupees Two Lakh) if User has not provided valid PAN (Permanent Account Number) information.
That in addition to the value of gold, the User shall be liable to pay applicable taxes, cesses, fees, levies, etc., as fixed by the applicable laws within the territory of India from time to time.
The User shall be liable to pay additional customer charges and/or any other fee, user charges, convenience fee, handling fee, service charge, etc., as the case maybe, on all order placed by the User on the Platform. That such charges are mandatory in nature and the User shall be bound by the same.
5. REDEMPTION SCHEME1
That the Platform shall enable the User to redeem the digital gold purchased on the Platform through redemption in the form of Customer Redeemable Product. “Customer Redeemable Product” shall mean gold Coins, or such other gold products manufactured by Augmont, of 0.1 (Zero Point one) gram and above as may be intimated by Augmont, from time to time, which are available for redemption by User. Users can redeem the Digital Gold (accumulated by them on the Platform) in the form of Customer Redeemable Product by choosing from the catalogue of Customer Redeemable Products provided by Augmont from time to time and to
be hosted on the Partner Platform.
That for the purpose of redemption the User shall be required to generate a Customer Redemption Instruction on the Platform. “Customer Redemption Instruction” shall mean an order placed / request raised by the User on the Platform for the redemption and delivery of Customer Redeemable Products and is said to be concluded when the User has made a payment of the applicable Customer Charges through the Platform using valid Payment Instrument, using the Payment Gateway, and such charges have been transferred to the Bank Account so held by Augmont. Hence the Platform shall be at liberty to fix and charge customer charges on all redemption instructions and such charges shall be final and binding upon the User.
That the User hereby understands that Redemption of gold shall be only through 0.1 grams of gold or above. Hence, the User may redeem the Digital Gold through Customer Redeemable Products, from time to time, by making payment of applicable Customer Charges, as the case may be, through valid Payment Instruments in favour of Augmont, as the case maybe, and do Sale Back for Residual Fractional Product.
On receipt of Customer’s request for redemption through the Platform, and confirmation from Platform regarding payment of applicable Customer Charges by a valid Payment Instrument, and receipt of Customer Charges by Augmont in its Bank Account, Augmont will redeem Customer Redeemable Products as per request of the User. It is clarified that after Redemption Confirmation by Augmont, the Customer Redemption Instruction cannot be cancelled, revoked and/or suspended by the User.
Augmont shall be responsible for delivery of the Redeemed Product to the User in the manner set out herein and may engage / authorize third party logistics partners / service providers, at their discretion, for such delivery. It is clarified that at no point of time Partner shall get the ownership of the Product/Customer Redeemable Products.
The physical Delivery of the Redeemed Products to the User shall be in the form of Customer Redeemable Product selected by the user from the catalogue of Customer Redeemable Products hosted by Augmont on the Platform. The list of Customer Redeemable Products may be altered, changed, and amended by from time to time, including adding any new products Augmont may manufacture from time to time. That the sole and absolute discretion for placing products in the catalogue shall lie with the Platform and Augmont only and the User shall have no right to claim any other product for the purpose of redemption under the present clause.
Each physical redemption by User shall automatically result in a corresponding physical reduction in total gold under custody with Augmont jointly with an Independent Trustee. Augmont will ensure that as and when a User raises a request for redemption by way of a Customer Redemption Instruction, the GAP account of such User is updated so as to reflect reduction in gold balance held by such User on the Platform.
Augmont shall be responsible for the accuracy of the weight, measurement, gold content or fineness of the Redeemed Products to be delivered and the nature and authenticity of the Gold at the time of delivery to the User. Each Redeemed Product shall be packaged in an individually serial numbered, assay certified packaging certifying the weight, measurement, gold content or fineness by Augmont.
Upon receipt of the Customer Redemption Instruction, Augmont will acknowledge the order on the Platform and pack the Redeemed Products based on the quantity and denomination in sealed boxes. Augmont strive to adhere to a maximum of 1 (one) Business Day SLA for Order Processing of coins and 4 (four) Business Days SLA for Order Processing of other Customer Redeemable Products. But the said timelines shall not be binding and no claim or action shall be sustainable merely on account of delay in delivery of the physical gold or any Customer Redeemable Product.
Augmont will ensure that all the required information, certificate documents (where applicable) and any other relevant documents, are sent along with the Redeemed Product to enable the user to optimally use the Redeemed Products. Augmont shall issue a corresponding invoice in the name of the User, which invoice shall also be sent to the User along with the Redeemed Products.
The fulfillment model provided by Augmont for the delivery of Redeemed Products to the User, shall be selected by Augmont from time to time and shall be final and binding upon the User.
That Augmont will be responsible for packaging and dispatching the right Redeemed Products and right quantity to the User via the courier partner. Augmont will assign Courier partner for each shipment after Customer Redemption Order placement by the User and the designated courier partner shall collect the shipments from Augmont’s pickup center or warehouses at regular frequency.
In the event that the Redeemed Products is not available for handover to its designated courier partners (and therefore to the User) by the scheduled time, Augmont shall immediately cancel the Customer Redemption Order on the Platform and also update the
reasons of non-availability. Augmont may, in certain cases after intimation to the Platform and the User, not cancel the Customer Redemption Order on the Platform and handover the Redeemed Products after the scheduled time.
That the Platform shall disable post-delivery returns of Redeemed Products by User, for any reasons whatsoever. It is hereby clarified that until delivery of the Product to the User, Augmont shall be fully responsible and liable for the Product, including with respect to theft, incorrect shipment and/or damage to the Product.
User is hereby informed that any complaint/issue with respect to the quantity, make, quality etc., of the Gold/Product/Customer Redeemable Product delivered to a User must be raised by the User within a period of 7 days from the date of Delivery. Augmont, the Platform and Saveez will not be responsible for any complaint received in this regard after the expiry of the above said period of 7 days.
That the User shall be liable to pay applicable taxes, cesses, fees, levies, etc., as fixed by the applicable laws within the territory of India from time to time, on all Redemption Orders that maybe placed by the User on the Platform from time to time.
The User shall be liable to pay additional customer charges and/or any other fee, user charges, convenience fee, handling fee, service charge, etc., as the case maybe, on all redemption orders placed by the User on the Platform. That such charges are mandatory in nature and the User shall be bound by the same.
6. TRANSFER BY CUSTOMER TO OTHER CUSTOMER(S)
The User is at liberty to transfer from their GAP account, the Product (worth Rs. 1.00 (Rupees One Only) and above incremental value thereof to other Users of the Platform by placing valid Transfer Instruction Favouring Customer. “Transfer Instruction Favouring Customer” means a request placed by the User on the Platform for transfer of Product from his GAP account to GAP account of other any other User of the Platform.
On receipt of Transfer Instruction Favouring Customer from the User, Augmont will either (a) send the Customer Transfer Confirmation, or (b) reject the Transfer Instruction Favouring Customer. It is clarified that after Customer Transfer Confirmation by Augmont, Augmont shall cannot cancel, revoke, and/or suspend the Transfer Instruction Favouring Customer.
Upon Customer Transfer Confirmation, Augmont will transfer the Product as per Transfer Instruction Favouring Customer of the Customer, and will debit the quantity of Product transferred by the Customer from his/her GAP account, and credit the GAP account of the transferee Customer, in whose favour the transfer is made forthwith in real time.
That the User shall be liable to pay applicable taxes, cesses, fees, levies, etc., as fixed by the applicable laws within the territory of India from time to time, on all transfer orders of digital gold to another User, that maybe placed by the User on the Platform from time to time.
The User shall be liable to pay additional customer charges and/or any other fee, user charges, convenience fee, handling fee, service charge, etc., as the case maybe, on all transfer orders placed by the User on the Platform. That such charges are mandatory in nature and the User shall be bound by the same.
7. SALEBACK BY CUSTOMER
The Customer desirous of selling back Digital Gold/Product accumulated on the Platform, or any quantity out of their holding, can do so by placing Sale Back Order on the Platform by specifying the value or the quantity of Gold that a Customer wants to sell back. It is hereby clarified that Saleback shall be only of the digital gold held by the User in his account only and not of any customer redeemable product, which the User may have redeemed at some point in time.
That the Sale Back value payable against the quantity of Product sold back by a User is based on the Live Rate of Gold-Sell Back, as provided and updated by Augmont, on the Platform, and the sale value/quantity of Gold is displayed/visible to the User on the Platform, as and when the said User opts for Sale Back and feed/enters the amounts/quantity it wants to sell back. "Live Rate of Gold- Sell Back” means the Gold rate in Indian Rupees (INR) per gram of 24 Karat 999 fine Gold as decided and determined by Augmont for sale back of Product by User to Augmont through the Platform. It is hereby agreed by the User that the live rate of gold, as displayed on the Platform, shall be final and binding upon him.
On receipt of Sale Back Order, Augmont-Bullion will either (a) send the Sale Back Confirmation, or (b) reject the Sale Back Order.
Transfer by Augmont to User in case of Sale Back Transactions will be done to User’s bank account in T+1 Business Days by Augmont (where T is the date of confirmation by Augmont regarding initiation of payment of the said amount to the Customers).
Upon Sale Back Confirmation(i) Augmont shall initiate payment to the Customer of the amount equivalent to sale value of Product (in terms of Sale Back Confirmation) by crediting the Customer’s Bank Account, and (ii) Augmont will debit the quantity of Product sold-back by the Customer from his GAP account.
It is clarified that title and ownership of such Product will pass / transfer from the Customer to Augmont at the time of Sale Back Confirmation by Augmont-Bullion.
That the User shall be liable to pay applicable taxes, cesses, fees, levies, etc., as fixed by the applicable laws within the territory of India from time to time, on all Sale Back Orders that maybe placed by the User on the Platform from time to time.
The User shall be liable to pay additional customer charges and/or any other fee, user charges, convenience fee, handling fee, service charge, etc., as the case maybe, on all sale back orders placed by the User on the Platform. That such charges are mandatory in nature and the User shall be bound by the same.
8. PRICES, TAXES AND PAYMENT METHODOLOGY
That the User is liable to pay Customer Charges on all transactions/orders/requests that are placed by the User on the Platform. That “Customer Charges” means the charges in respect of purchase, redemption, transfer, sell back, delivery etc. of Product and Customer Redeemable Products, as applicable, and any other charges payable by User. That the said charges shall be fixed by the Platform and Augmont, as the case maybe, only. That the said charges shall be final and binding upon the User. That the User shall not raise any dispute with respect to the said charges.
The user hereby understands that the prices indicated on the Platform are linked to the Live Rate of Gold in the bullion markets of India, as determined by Augmont.
"Live Rate of Gold-Purchase” means the Gold rate in Indian Rupees (INR) per gram of 24 Karat 999 fine Gold as posted from time to time by Augmont inclusive of customs duty, exclusive of (i) Taxes, (ii) product manufacturing / making charges, and (iii) delivery charges etc. That the said rate shall be the final and binding rate at which the User shall be entitled to purchase Digital Gold on the Platform.
"Live Rate of Gold- Sell Back” means the Gold rate in Indian Rupees (INR) per gram of 24
Karat 999 fine Gold as decided and determined by Augmont for sale back of Product by User to Augmont through the Platform. That the said rate shall be the final and binding rate at which the User shall be Sale Back Digital Gold on the Platform.
It is brought to the information of the User that the prices of gold in the open market are dynamic and constantly fluctuate depending upon market conditions. In this light there might be some delay in updating the prices of gold in the database of Augmont and subsequently on the Platform, or some difference might be there in the price of gold on the platform and other sources. The user shall be bound by the prices as reflected and prevalent on the Platform only and shall at no point in time raise any disputes with respect to the prices reflected on the Platform. The user shall be required to exercise his own prior knowledge and technical prowess while making any transaction on the Platform, based upon the prices reflecting on the Platform.
The price of gold for any transaction on the Platform shall be the price prevalent and reflecting on the Platform at the time when such transaction is booked. That the user shall be entitled to purchase digital gold only on the prices reflecting on the Platform and shall be at liberty to sell digital only at the prices reflecting on the Platform. Furthermore, the User shall be at liberty to book physical delivery of gold, which is to be facilitated by Augmont Gold, only at the prices reflected on the Platform. The User shall be liable to complete all formalities relating to KYC in order for booking his orders. The user is called upon to make himself privy to the terms and conditions of Augmont Gold which are available at https://www.augmont.com/terms-conditions.
The user shall also be liable to pay applicable taxes, as notified by the Government of India, from time to time, on the transactions of the application.
All payments of the User shall be processed by a reputed third-party payment gateway, who shall be engaged by Saveez only. Such payment gateways may offer multiple modes of payments such as net-banking, credit/debit cards, UPI Payment, mobile wallets, etc. The user is hereby made aware that any disputes with respect to any payment related issues, such as improper deduction of bank accounts, shall be taken up with the User’s banker and the payment gateway only, and Saveez shall have no liability for the same.
A transaction once booked cannot be cancelled or rolled back. A transaction shall be cancelled only in the eventuality the payment fails for any reason whatsoever.
For refunds and requests for delivery of physical gold the terms and conditions of Augmont shall be applicable and enforceable.
9. RETURNS, REFUNDS AND CANCELLATION
The orders placed by the User for purchase of Digital Gold on the Platform shall be deemed to be completed only when the payment against the said orders is successful, as provided hereinabove. That the delivery of digital gold in the favour of the User’s account shall be made only after successful confirmation of payment against the order. That the said delivery of digital gold in the User’s account may take up to 48 hours. That in the event the payment for the order fails, for any reasons, the order shall not be placed and shall be deemed to be cancelled.
Once an order is placed, and payment against the said order is successful, the User is not entitled to request or claim any cancellation of the said order.
The User shall be at liberty at all times to discontinue any auto-debit facility that the User acceded while subscribing to the plans/schemes, as mentioned hereinbefore.
Once the User places an order, and the payment against the same has been confirmed, the User is at liberty to sell the digital gold after 24 hours of delivery of Digital Gold in the User’s GAP Account. The User is not entitled to sell the digital gold on the same day of purchase.
Saveez at its sole discretion may offer additional discounts, offers and coupons for transactions on the Platform. The terms of such discounts, offers and coupons shall be solely decided by Saveez and shall be informed to the User on offer of the same.
10. USER’S OBLIGATIONS
The User by registering, or accessing the platform, in any manner, is deemed to have read and understood and has agreed to be bound by the present terms and conditions. That by
registering, or accessing the Platform, the User is further deemed to have read and understood and has agreed to be bound by the terms and condition of Augmont, as also the terms and conditions of the Payment Gateway, deployed by the Platform. That the User hereby undertakes that he shall not hold liable, or make any claim, against Saveez, Augmont Gold, or payment gateway, on the plea that he was not aware of the present terms and conditions, or the terms and conditions of Augmont Gold or the Payment Gateway.
That the user hereby shall not indulge in any activity such as disseminate, copy, license, publish, or use for any purpose, other than as provided for under the present terms and condition, the content and data on the Platform.
That the User hereby undertakes that he shall strictly act as per the laws of India in his dealings on the Platform.
That the User shall not use the platform in order to launder money or utilize any unaccounted money (black money) for the purchase of gold on the platform. The User shall only utilize his personal bank account which is maintained and controlled by him in the routine course and shall invest money which has been duly accounted and/or audited, as the case maybe.
The User shall not buy digital gold on the platform in a benami manner.
The User has hereby understood that none of the contents or data on the Platform is to be construed as financial advise or financial planning. Hence the user has the obligation to achieve the requisite financial literacy before making any financial decision on the Platform. In addition, the user should obtain necessary legal, financial, personal and accounting advise before making purchase of gold on the platform.
That the user shall not in any manner sale, trade, or deal his account on the Platform.
The User shall be duty bound at all times to furnish the true and correct information on the Platform. That at any point in time if there is a change in any of his information, the User shall be bound to immediately update the same on the Platform.
The user hereby undertakes to strictly comply with the Rule 3(2) of the Information Technology (Intermediaries Guidelines) Rules 2011 and hence shall not host, display, upload, modify, publish, transmit, update or share any information that;
belongs to another person and to which the user does not have any right to;
is grossly harmful, harassing, blasphemous defamatory, obscene,pornographic, paedophilic, libellous, invasive of another's privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner whatever;
infringes any patent, trademark, copyright or other proprietary rights;
violates any law for the time being in force;
deceives or misleads the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature;
impersonate another person;
contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer resource;
threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign states, or public order or causes incitement to the commission of any cognisable offence or prevents investigation of any offence or is insulting any other nation.
The user shall not, whether intentionally or unintentionally, attempt to access any codes of the application or the website of the Platform at any point in time, or attempt to take control or access the back end of the platform, or attempt to infiltrate the database of the Platform (including user database), or manipulate the data on the Platform in any manner, or cause harm to the resources of the Platform, or in any manner interfere with the transactions on the platform.
The User shall not at any point in time make or attempt to make any copies, reverse engineer, further license or make other creative derivative works of or from the Platform.
The user shall be responsible for any loss caused to him on account of his own defaults. This includes any loss occasioned to the user on account of furnishing wrong information such as incorrect address, contact details, PAN number, bank account number, phone number, etc.
Without prejudice to the generality of the foregoing provisions the User shall not in any manner do any act or omission which is inconsistent with the present terms and condition or which act or omission, whether to the user’s knowledge or not, has the ability to harm, in any manner, Saveez or the Platform.
In the event the User is found in breach of the present provision the account of the User shall be immediately terminated and Saveez shall be at liberty to make a request for appropriating any balance amount in the User account, whether in the form of money held with the payment gateway or digital gold held with Augmont, to make good the breach of the User. In addition, Saveezy shall be at liberty to initiate appropriate legal proceedings, both civil and criminal in nature, which action shall include claims for compensation and damages, with interest, which maybe appropriated from the balance value available in the User’s account, at the sole cost and risk of the User.
The User shall not be entitled to make any claims against Saveez for any incidental, special, punitive, consequential or indirect loss, damages, costs, expenses and/or claims, including without limitation, damages for loss of profits, business interruption and loss of goodwill.
11. INTELLECTUAL PROPERTY
The user hereby undertakes that he, or any person in his control, shall at no time breach any intellectual property, whether registered or not, of either the Platform or Saveez or Augmont Gold or the Payment Gateway. That for the purpose of the present provision intellectual shall include, but not be limited to any patents, trademarks and copyrights (whether registered or not), the visual interfaces, graphics, design, compilation, information, computer code (including source code and object code), products, Customer Redeemable Products and IP associated therewith, software, services, and all other elements of the Platform and Saveez. That the same are protected by Indian copyright, trade dress, patent, and trademark laws, international conventions, and all other relevant intellectual property and proprietary rights, and applicable laws. The user agrees to not remove, obscure, or alter Saveez or any third party’s copyright, patent, trademark, or other proprietary rights notices affixed to or contained within or accessed in conjunction with or through the Platform. Except as expressly authorized by Saveez, the User agrees not to sell, license, distribute, copy, modify, publicly perform or display, transmit, publish, edit, adapt, create derivative works from, or otherwise make unauthorized use of the Materials. Saveez reserves all rights not expressly granted in this Agreement.
The failure of Saveez to exercise or enforce any right or provision of this Agreement will not constitute a waiver of such right or provision. Any waiver of any provision of this Agreement will be effective only if in writing and signed by Saveez.
13. LIMITATION OF LIABILITIES AND DAMAGES
In no event, Saveez or its contractors, agents, licensors, partners or suppliers will be liable to the User for any special, indirect, incidental, consequential, punitive, reliance, or exemplary damages (including without limitation lost business opportunities, lost revenues, or loss of anticipated profits or any other pecuniary or non-pecuniary loss or damage of any nature whatsoever) arising out of or relating to the use of the Platform by the User. Such limitation of liabilities and damages shall also extend to scenarios where the user accesses the services of the Platform through any other third party applications, even if the same has been expressly authorized by Saveez. The present clause shall also be applicable with full force even in cases where the User has put to knowledge of Saveez, or any of its employees or associates, about such damages or loss, as elaborated in the present clause. The present clause shall extend to all interactions that the User may have with Saveez, whether arising from the use of the Platform or any in any other manner. That in the appropriate cases Saveez’s liability shall be limited to the actual amount spent by the User on the Platform, or to the extent of Rs.5,000/-, whichever is lower. In the event the applicable laws do not allow for such limitation of liabilities Saveez’s liability shall be limited to the fullest extent as permissible under the applicable laws. The present provisions shall survive the termination of the agreement between the parties or cessation of the User’s use of the Platform.
The User hereby agree to indemnify, save, and hold Saveez, its affiliates, employees, officers, directors, , and partners harmless from any and all claims, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising
out of or related to: (i) the User’s use or misuse of the Platform; (ii) any violation by the User of these terms and conditions; or (iii) any breach of the representations, warranties, and covenants made by the User herein or (iv) the user furnishing any false or incorrect information, whether intentionally or not, on the Platform. Saveez reserves the right, at Your expense, to assume the exclusive defense and control of any matter for which the User is required to indemnify Saveez, including rights to settle, and the User agrees to cooperate with Saveez’s defense and settlement of these claims. Saveez will use reasonable efforts to notify the User of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it. The present provisions shall survive the termination of the agreement between the parties or cessation of the User’s use of the Platform. The indemnities under this Clause are in addition to and without prejudice to the indemnities given elsewhere in these terms and conditions and all the indemnities provided herein shall survive the termination / expiry of the relationship between the parties.
15. FORCE MAJEURE
That Saveez shall not be liable for any breach of the present terms and condition on the occurrence of a force majeure event. A Force Majeure Event shall mean any event that is beyond the reasonable control of Saveez and shall include but not limited to war, riots, fire, flood, acts of God, explosion, strikes, lockouts, slowdowns, prolonged shortage of energy supplies, Pandemic, lockdowns, computer hacking, unauthorized access to computer data and storage devices, computer crashes, acts of state, or any governmental, legal or regulatory actions prohibiting or impeding Saveez Entities from performing its respective obligations under the contract.
The User is at liberty to access his account at any point in time and close the same. On doing so the relationship between the parties shall be deemed to have terminated. That Saveezy may terminate the relationship between the parties, without prior notice, if the User is found to have breached any of the above terms and conditions.
That the termination of the relationship shall not entail termination of the present terms and
conditions and those provisions of the present terms and condition, which as per law and practice, survive termination of a contract shall survive and continue to be in full force.
That Saveez shall be at liberty to close the activities of the Platform at its sole discretion. On closing the Platform the relationship between the parties shall be deemed to have terminated. That Saveez shall make appropriate arrangements to ensure that the digital gold accumulated in the GAP Account of the User is continued with Augmont or is transferred to any other Platform, providing similar services as the present Platform. That no right to claim any compensation or damages, or any sum of whatever nature, shall accrue in favour of the User merely against Saveez merely on account of closing the Platform.
That in the event the agreement/understanding between Saveez and Augmont is terminated and/or discontinued Augmont shall be responsible to continue providing services for a period of at-least 4 (Four) months from the date of termination and/or discontinuation for effectuating redemption or selling of Gold by user or transfer of balance to an alternate GAP partner (“Alternate GAP Platform”) or to Augmont. That in such situation the User may (i) Redeem the Gold accumulated by them in their GAP accounts, take delivery of the Customer Redeemable Products and close GAP account, within the time prescribed, as the case may be, or (ii) transfer balance into alternate GAP account as prescribed by Augmont or transfer to Augmont directly. For the Users who may have neither redeemed the Product nor transferred to alternative GAP during the Transition Period, Augmont will be entitled to repurchase such Product at the end of Transition Period at the then prevalent Live Rate of Gold- Sell Back, after deducting applicable charges and Taxes, provided the User has not called for redemption. That any claims and/or disputes arising from the same shall be sustained between the User and Augmont only.
17. GOVERNING LAW AND DISPUTE RESOLUTION
That any disputes between the Parties shall be settled with mutual respect and amicably. That
in the event the Parties are unable to resolve their dispute the Parties shall attempt to settled their disputes through arbitration with sole arbitrator. That the provisions of the Arbitration and Conciliation Act 1996, as maybe amended from time to time, shall be applicable. That the seat and venue of arbitration shall be Mumbai only. That the language of the arbitral proceedings shall be English.
That any provision or term of the present terms and condition which become unenforceable due to any reason shall be deemed to have been severed while all other provisions shall survive and govern the relationship between the parties.
That Saveez may modify the present terms and conditions at any point in time, without prior intimation or approval of the User.
All communications to the User shall be made to his e-mail address through which the User has registered on the Platform. That the User may communicate with Saveez from the in-built customer support mechanism on the Platform, or may contact the customer support at [email protected]
[i] Users are hereby made aware that the present redemption services are currently not available on the Platform. The said service shall be integrated on the Platform soon. Users are requested to periodically visit the Platform to update on the provision of the said service.
[ii] Users are hereby made aware that the transfer of digital gold to the account of another person are currently not available on the Platform. The said service shall be integrated on the Platform soon. Users are requested to periodically visit the Platform to update on the provision of the said service.
Augmont Terms and Conditions
Please read the following terms and conditions before registering on, accessing or using the websitewww.augmont.com ("this Website") or the Augmont mobile application (“this App”) or any similar platform (hereinafter collectively called the Platform). This Website and this App are owned and operated by Augmont Goldtech Private Limited (Formerly Augmont Precious Metals Private Limited).We, Augmont Goldtech Private Limited and/or our designated affiliates (jointly "Augmont") provide the Platform features to you, the user, subject to your acceptance of the following Terms and Conditions of Access and Use, constituting an agreement between us ("Agreement"). If you continue to use the Platform or communicate with us, you will be deemed to have accepted these Terms and Conditions of Access and Use. Please read these Terms and Conditions of Access and Use carefully. In addition, when you use any current or future Augmont service or business you will also be subject to the guidelines, terms and agreements applicable to such service or business ("Specific Terms"). If the Terms and Conditions of Access and Use are expressly inconsistent with such Specific Terms, the Specific Terms will prevail.Augmont may revise these Terms and Conditions of Access and Use from time to time and at any time, without notice to you. If you do not agree to be bound by these Terms and Conditions of Access and Use, as modified from time to time, you should leave the Platform immediately.The section titles in these Terms and Conditions of Access and Use are for convenience only and have no legal effect.
ACCEPTANCE OF DISCLAIMERS AND EXCLUSIONS
You acknowledge that the disclaimers and exclusions of liability set forth in these Terms and Conditions of Access and Use represent a fair and reasonable allocation of the risks and benefits of the Agreement between you and us, taking all relevant factors into consideration. You agree that these disclaimers and limitations shall be enforceable to the fullest extent permitted by applicable law. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Platform or these Terms and Conditions of Access and Use must be filed within one (1) year after such claim or cause of action arose or be forever barred.These Terms and Conditions of Access and Use shall be read in conjunction with the Business Rules of Augmont and of the Platform. Augmont may revise these Business Rules from time to time and at any time, without notice to you.
The Platform shall facilitate purchase and sale of Gold and Silver with each of its specific users (such users are referred to as “Registered Members”). Bullion can be bought and sold online using the Platform's buying / selling option. Registered Member can buy / sell any quantity of gold and silver on the Platform. The value of Bullion is in INR terms and excludes GST and other applicable taxes. Both Buy and Sell prices of Bullion will be quoted exclusive of GST. Augmont shall raise e-invoices for the Bullion sold.Augmont shall provide buy / sell rates of Bullion, Registered Members shall have the option to either sell the Bullion to Augmont at the prevailing market prices or allow the custodian to store the bullion in the designated vaults or to request for the delivery of the Gold/Silver bought in the form of coins and bars online with us.
All content included on the Platform such as text, graphics, logos, button icons, images, audio clips, digital downloads, data compilations, and software, is the property of Augmont or its content suppliers and is protected by international copyright laws. All software used on this site is the property of Augmont or its software suppliers, and is protected by international copyright laws. The content of the Platform cannot be copied, reproduced, republished, uploaded, posted, transmitted or distributed for any non-personal use without the prior written approval of Augmont.Graphics, logos, page headers, button icons, scripts, and service names contained in or features on the Platform are trademarks, or trade dress of Augmont. Augmont's trademarks may not be used in connection with any other product or service, in any manner that is likely to cause confusion, disparage or discredit regarding Augmont and its products and services. All trademarks not owned by Augmont that appear on this site are the property of their respective owners, who may or may not be affiliated with, connected to, or sponsored by Augmont.
DISCLAIMER OF WARRANTIES
The Platform and all information, content, materials, products (including software) and services included on or otherwise made available to you through the Platform are provided by Augmont an "as is" and "as available" basis, unless otherwise specified in writing. Augmont makes no representations or warranties of any kind, express or implied, as to the operation of this site or the information, content, materials, products (including software) or services included on or otherwise made available to you through this site, unless otherwise specified in writing. You expressly agree that your use of this site is at your sole risk. To the full extent permissible by applicable law, Augmont disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability and fitness for a particular purpose. Augmont does not warrant that this site; information, content, materials, products (including software) or services included on or otherwise made available to you through this site; their servers; or electronic communications sent from Augmont are free of viruses or other harmful components. Augmont will not be liable for any damages of any kind arising from the use of this site or from any information, content, materials, products (including software) or services included on or otherwise made available to you through this site, including, but not limited to direct, indirect, incidental, punitive, and consequential damages, unless otherwise specified expressly in writing.
Any dispute or claim relating in any way to your visit to the Platform or to products or services sold or distributed by Augmont or through the Platform will be resolved first by arbitration. The Indian Arbitration and Conciliation Act of 1996 applies to this agreement. To begin an arbitration proceeding, you must send a letter requesting arbitration and describing your claim in detail to our address available on the Platform. The arbitration will be conducted in Mumbai by an independent arbitrator appointed by Augmont. The costs of arbitration proceedings will be borne by the party so instructed by the arbitrator, on merits of the case. We each agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated or representative action.
When you visit the Platform or send emails to us, you are communicating with us electronically. You consent to receive communications from us electronically. We may communicate with you by one or more of letters, e-mail, SMS or by posting notices on the Platform. You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy all legal requirements that such communications be in writing.
You shall procure and maintain all communication and other equipment necessary to access the Platform and the costs of any such equipment and communication connections or use, including any applicable taxes, shall be borne solely by you. You are responsible for operating your own equipment used to access the Platform.
FINANCIAL TRANSACTIONS AND TAXES
If you wish to make any financial transactions on the Platform, including paying for products or services, you may be asked for payment information. You agree that all information you provide is accurate, complete and current and that you will pay all charges owed, including any applicable taxes. You agree that you are solely responsible for any personal income reporting and tax payments required of you by applicable government authorities.
GOVERNING LAW AND JURISDICTION
By visiting the Platform, you agree to be bound by the applicable Indian laws and State laws, including those pertaining to taxation. This Agreement has been executed and delivered in India, and its interpretations, validity and performance shall be construed and enforced in accordance with the laws of the Republic of India, without regard to principles of conflict of laws, and shall be subject to the exclusive jurisdiction of courts at Mumbai, India.
You agree to indemnify, defend and hold Augmont harmless from all claims, damages and expenses (including attorney's fees) made by any third party arising out of your content, your use of the Platform, your connection to the Platform, your violation of this Agreement, our Terms and Conditions of Access and Use or our business policies, and the development, operation, maintenance, use and contents of this Platform.
You acknowledge that you have read these Terms and Conditions of Access and Use and agree to them in entirety. You, understand that we may at any time (directly or indirectly) solicit member referrals on terms that may differ from those contained in this Terms and Conditions of Access and Use. You have independently evaluated the desirability of associating with the Platform or of participating in its programs or of availing its services and/or products, and are not relying on any representation, guarantee or statements other than as set forth in this Terms and Conditions of Access and Use.
LICENSE AND SITE ACCESS
Augmont grants you a limited license to access and make personal use of this site and not to download (other than page caching) or modify it, or any portion of it, except with express written consent of Augmont. This license does not include any resale or commercial use of this site or its contents; any collection and use of any product listings, descriptions, or prices; any derivative use of this site or its contents; any downloading or copying of account information for the benefit of another merchant; or any use of data mining, robots, or similar data gathering and extraction tools. This site or any portion of this site may not be reproduced, duplicated, copied, sold, resold, visited, or otherwise exploited for any commercial purpose without express written consent of Augmont. You may not frame or utilize framing techniques to enclose any trademark, logo, or other proprietary information (including images, text, page layout, or form) of Augmont without its express written consent. You may not use any Meta tags or any other "hidden text" utilizing Augmont's name or trademarks without the express written consent of Augmont. Any unauthorized use terminates the permission or license granted by Augmont. You are granted a limited, revocable, and nonexclusive right to create a hyperlink to the Platform so long as the link does not portray Augmont, or its products or services in a false, misleading, derogatory, or otherwise offensive matter. You may not use any Augmont logo or other proprietary graphic or trademark as part of the link without express written permission.
LIMITATION OF LIABILITY
You expressly agree that use of the Platform is at your sole risk. While we will take all reasonable precautions to ensure uninterrupted and error-free operations, your access and use of the Platform is at your sole risk. The service is provided on an "as is" and "as available" basis. We and our licensors, suppliers, vendors, parent, holding, subsidiary and related companies, affiliates, officers, agents and employees expressly disclaim all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement. In no event shall Augmont be liable for any direct, indirect, incidental, special, punitive, consequential damages, or any damages whatsoever, including, but not limited to, damages for loss of profits, goodwill, use, data, or other intangible losses resulting from:
The use or the inability to use our services or access content,
The cost of procurement of substitute goods and services resulting from transactions entered into through or from the Platform,
The unauthorized access to or alterations of your transmissions or data,
Statements or conduct of any third party on the service, or
Any other matter relating to any service or product offered, delivered or agreed to be delivered, even if Augmont has been advised of the possibility of damages.
For your convenience, the Platform may provide links to the sites of affiliated companies and certain other businesses, which may not be in our control. You acknowledge that Augmont does not endorse these linked sites (even if they pop up in a frame) or any links contained in these linked sites. We are not responsible for examining or evaluating, and we do not warrant the offerings of, any of these businesses or individuals or the content of their website. Augmont does not assume any responsibility or liability for the actions, product, and content of all these and any other third parties. You should carefully review their privacy statements and other conditions of use.
One or more patents owned by Augmont may apply to the Platform and to the features and services accessible via the Platform. Portions of the Platform may operate under license of one or more patents.
Except where noted otherwise, the prices displayed for products on the Platform represents the value of the respective product. For certain transactions, you shall bear fees and charges in addition to payment for prices displayed on the Platform. Such additional fees and charges shall be as are stated on the Platform. Please pay attention to the details of your transactions, because your total price for a transaction may include taxes, fees and shipping costs, which you are responsible for payingWith respect to services provided or products sold by Augmont, we cannot confirm the cost of a service or the price of a product until you order. Despite our best efforts, a small number of the items in our catalogue may be mispriced. If an item's correct price is higher than our stated price, we will, at our discretion, either contact you for instructions before shipping or cancel your order and notify you of such cancellation.
The Platform is strongly committed to your right to privacy and to keeping your information secure. We collect your personal information on a need-to-know basis. Personal information includes, but is not limited to, first and last name, physical address, e-mail address, phone number, birth date, and any other information that itself identifies or when tied to the above information, may identify you as a specific individual. Additionally, Augmont may require you to provide additional information and documents for meeting its Know-Your-Client guidelines. The Platform does not collect personally identifiable information about you except when you specifically and knowingly provide it. Augmont uses your personally identifiable information also to operate the Platform and offer its services and to inform you of new features, services, and products from Augmont.Augmont may carefully select other companies to send you information about their products or services which are related to the Platform but are not necessary to its operation (an "Extended Service"). You would be provided the option to decline the Extended Service.Augmont may disclose your personal information if required to do so by law or in the good-faith belief that such action is necessary: (a) to conform to the edicts of law or comply with legal process served on Augmont; (ii) to protect and defend the rights or property (including intellectual property) of Augmont and/or of the Platform or (iii) to act under exigent circumstances (as Augmont may, in its sole decision decide) to protect the personal safety of users of the Platform, Augmont, or the public.The Platform may have features which provide for users to disclose their identities and communicate with other users. Your use of such features and disclosure of any personal details (e.g. e-mail address, mobile numbers) by you through these features are at your sole risk, and Augmont accepts no responsibility for the same.
Augmont attempts to be as accurate as possible. However, Augmont does not warrant that product descriptions or other content of this site is accurate, complete, reliable, current, or error-free. If a product offered by Augmont is not as described, your sole remedy is to return it in unused condition for a replacement under the provisions of our Replacement Policy.
RETURNS, REPLACEMENT AND TITLE
Augmont does not take title to returned items until the item arrives at our designated address. For more information about our returns and replacement, please see our Replacement Policy.
The following rules will apply regarding replacement of articles delivered to the customers:
Replacement shall be sought in writing no later than three business days from date of delivery to the Registered Member;
Replacement shall be subject to return of the delivered articles at Augmont's office address stated for this purpose on the Platform;
It shall be the responsibility of the Registered Member to ensure safe delivery of articles to Augmont's custody. Till such time that the receipt of Bullion is acknowledged as “received” by Augmont, the risk of loss of the article shall remain with the concerned Registered Member;
Replacement shall be subject to handover of the delivered article in its original tamper-proof packing, if any, in an intact, un-opened and
non-mutilated condition. Decision of Augmont regarding the condition of the tamper-proof packing shall be final and conclusive;
While Augmont shall try to replace a returned piece with a close substitute, Augmont shall have the right to replace the returned piece with any piece which is similar in composition and equal in market value on the date of replacement (although not necessarily similar in shape or in design) with the returned piece.
REVIEWS, COMMENTS, COMMUNICATIONS, AND OTHER CONTENT
You may post reviews, comments, photos, and other content and submit suggestions, ideas, comments, questions, or other information to the Platform, so long as the content is not illegal, obscene, threatening, defamatory, invasive of privacy, infringing of intellectual property rights, or otherwise injurious to third parties or objectionable and does not consist of or contain software viruses, political campaigning, commercial solicitation, chain letters, mass mailings, or any form of spam. You may not use a false e-mail address or mobile number, impersonate any person or entity, or otherwise mislead as to the origin of a card or other content. Augmont does not regularly review posted content, but reserves the right (but has no obligation) to remove or edit such content, at its sole discretion.If you do post content or submit material, and unless we indicate otherwise, you grant Augmont a nonexclusive, royalty-free, perpetual, irrevocable, and fully sub-licensable right to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, and display such content throughout the world in any media. You grant Augmont and its sub-licensees the right to use the name that you submit in connection with such content, if they choose. You represent and warrant that you own or otherwise control all of the rights to the content that you post; that the content is accurate; that use of the content you supply does not violate this policy and will not cause injury to any person or entity; and that you will indemnify Augmont for all claims resulting from content you supply. Augmont has the right but not the obligation to monitor and edit or remove any activity or content. Augmont takes no responsibility and assumes no liability for any content posted by you or any third party.
SITE POLICIES, MODIFICATION, AND SEVERABILITY
please review our other policies posted on this site. These policies also govern your visit to the Platform. We reserve the right to make changes to our site, policies, and these Terms and Conditions of Access and Use at any time. If any of these Terms and Conditions of Access and Use is deemed invalid, void, or for any reason unenforceable, that condition shall be deemed severable and shall be modified so as to give effect to the economic intent of such impugned provision, and shall not affect the validity and enforceability of the remaining Terms and Conditions of Access and Use.
Augmont reserves the right to discontinue, in whole or in part, any portion of the Platform services or programs with or without notice. This discontinuation may relate to all users, certain groups of users, or to certain individual users.This Agreement and the license rights granted hereunder shall remain in full force and effect unless terminated or cancelled for any of the following reasons: (a) immediately by Augmont for any unauthorized access or use by you; (b) immediately by Augmont if you assign or transfer (or attempt to do so) any rights granted to you under this Agreement; (c) immediately, if you violate any of the other terms and conditions of Terms and Conditions of Access and Use. Termination or cancellation of this Agreement shall not affect any right or relief to which Augmont may be entitled at law or in equity. Upon termination of this User Agreement, all rights granted to you will terminate and return to Augmont.
VOID WHERE PROHIBITED
Although the Platform is accessible worldwide, not all products or services discussed or referenced on the Platform are available to all persons or in all geographic locations or jurisdictions. The Platform reserves the right to limit the provision of any product or service to any person, geographic area or jurisdiction it so desires, in its sole discretion and to limit the quantities of any such product or service that it provides. Any offer for any product or service made on the Platform is void where prohibited.
If you use this site, you are responsible for maintaining the confidentiality of your account and password and for restricting access to your computer, and you agree to accept responsibility for all activities that occur under your account or password. Augmont does not offer services or sell products to parties under the age of 18 years. Augmont reserves the right to refuse service, terminate accounts, remove or edit content, or cancel orders and instructions at its sole discretion.
You may use the Platform only if you are an Indian citizen, residing in India, and are eligible to enter into contracts under Indian law. Non-Indian citizens and non-resident Indians cannot participate on the Platform at present.
YOUR REGISTRATION OBLIGATIONS
In consideration of your use of the Platform, you agree to:
Provide true, accurate, current and complete information about yourself as prompted by the registration form required by the Platform (such information being the "Registration Data"), and
Maintain and promptly update the Registration Data to keep it true, accurate, current and complete.
In addition, if required you fill and sign all forms and documents which form part of your account opening kit, and supply us with all the relevant
legal documents and financial information which law requires us to maintain. You warrant and represent that all information that you supply to us is accurate and truthful. You also expressly authorize Augmont to obtain reports concerning your credit standing and business conduct.You can open an augmont account with us by entering your mobile number and verifying the same with after verifying your OTP sent to your mobile number.Notwithstanding the foregoing, we may provide you with access to some parts of the Platform without you registering as a user. In that case, your identification is based on other means of identification that we deem appropriate. You warrant and represent that all information provided for this other means of identification is accurate and truthful. You further agree that such information may be collected and disclosed to us and used in accordance with these Terms and Conditions of Access and Use.
DISAPPROVAL OF APPLICATION
If you provide any information that is untrue, inaccurate, not current or incomplete, or Augmont has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Augmont has the right to suspend or terminate your account and refuse any and all current or future use of the Platform (or any portion thereof) without any liability to you.
upon completing the registration process with the Platform, the system will create unique customer id for you. You are responsible for maintaining the confidentiality of account, and are fully responsible for all activities that occur under your account. You agree to (a) immediately notify Augmont of any unauthorized use of your password or account or any other breach of security, and (b) ensure that you exit from your account at the end of each session.
TERMINATION OF ACCOUNT
You agree that Augmont, in its sole discretion, may terminate your password, Account or your use of the Platform. Augmont may terminate your Account and remove any content within the Platform for any reason, including, without limitation, if Augmont, in its sole opinion, believes that you have violated or acted inconsistently with the letter or spirit of these Terms and Conditions of Access and Use. Augmont may also, in its sole discretion and at any time, discontinue the Platform, or any part thereof, without notice. You may also request Augmont to terminate your account with us by sending an email to the customer help desk from your registered email id. You agree that any termination of your access to the Platform under any provision of these Terms and Conditions of Access and Use may be effected without prior notice, and acknowledge and agree that Augmont may immediately deactivate or delete your account and all related information and files in your account and/or bar any further access to such files or to the Platform. Further, you agree that Augmont shall not be liable to you or any third-party for any termination of your access to the Service. However, on such termination, Augmont shall, based on request from the customer, deliver the bullion lying in the vaults in the form of coins and/or bars, sell the fractional parts and return the net amount of money standing to the credit of your Account
Augmont may publish research and opinions on the Platform, for your information. You may not rely on any such information for forming your investment decisions. You acknowledge that Augmont or the Platform and its officers, directors, employees, agents and affiliates will have no liability with respect to transactions in or for your Account and your investment decisions.
Operations on the Platform shall be conducted on an automated basis. Registered Members will be required to connect to the Platform over the Internet.
Operations on the Platform shall be allowed through suitable internet-connected devices of a Registered Member. Each Registered Member shall login their respective augmont account by entering their respective mobile number. A Registered Member shall have a non-exclusive permission to use the Platform in the ordinary course of business. A Registered Member shall not have any title, rights or interest with respect to the Platform, its facilities, software and the information provided by Augmont and the Platform. The permission to use the Platform shall be subject to payment of such charges as Augmont and the Platform may prescribe from time to time.A Registered Member shall not, by herself/himself or by through any other person(s), directly or indirectly:
Use the Platform for any purpose other than that approved and specified by the Platform;
Copy, alter or modify the Platform, or make the Platform available to any other person;
Use the Platform in any manner other than the manner as specified by Augmont;
Attempt - directly or indirectly - to decompile, dissemble or reverse engineer the Platform;
Publish, supply, show or make available to any other person or reprocess, retransmit, store or use the facilities of the Platform.
CONTROL & REPORTING SYSTEMS
The Platform may, at the decision of Augmont, cease operations in Bullion (Selected denominations of Gold and Silver as specified by the Platform) on the system for such an amount of time and for such reasons as it may deem fit in the best interests of the Registered Members and the overall markets. Orders, if any, in violation of an operation cease, will be rejected by the Platform.
Details of transactions conducted by Registered Members would be updated with the back-office systems of Augmont on a real time basis. Registered Members can access the reports of their transactions over the Platform. Augmont may record such additional information about the buying and selling conducted on the Platform as it may consider relevant or necessary for its own use.
Augmont may appoint Intermediaries and Distributors who shall assist us in distributing our products to you. Augmont shall communicate all the transaction details to you directly by means of emails, sms and any other medium. and it is your responsibility to ensure that you receive this communication. When you visit the Platform or send e-mails to us, you are communicating with us electronically. You consent to receive communications from us electronically. We may communicate with you by one or more of letters, e-mail, SMS or by posting notices on the Platform. You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy all legal requirements that such communications be in writing. Augmont shall not be responsible to you in the event of default or any wrongful, dishonest, criminal, fraudulent act or wilful misconduct or gross negligence on the part of these Intermediaries. However, you shall immediately inform Augmont on occurrence of such an event through e-mails/telephone/fax or any other convenient means. The activities of the Intermediaries and its personnel/ representative(s) shall not be construed to be activities of Augmont.
In case of inability of Augmont to make deliveries of coins, bars and jewelery bullion due to reasons beyond its control, Augmont may require that the deliveries be effectuated through specific modes, including through local agents / jewelers. In such a case, you agree to bear any additional costs and fees necessary for the delivery to be complete.
TERMS & CONDITIONS FOR DIGIGOLD AND SYSTEMATIC INVESTMENT PLAN DIGIGOLD:
Through the Platform, Augmont shall facilitate buy and sell of Gold and Silver (Bullion).All such buy and sell transactions are final and non-reversible.Augmont shall provide buy/sell quotes for the prices of Bullion, which shall be linked, based on a formula, to the prices of gold and silver in the spot market. You may buy any quantity of Bullion through the Platform, subject to policies framed in this regard by Augmont. Augmont shall issue an invoice with Bullion (as the case may be) purchased by you. The Bullion purchased will be delivered to and stored with a custodian in a vault on your behalf and at your request by default. The cost of insurance of Bullion will be borne by Augmont.You shall have the option to (a) sell gold / silver from your Platform account back to Augmont at the prices shown on the Platform at the time of sale, or (b) request for the delivery of the gold/silver in the form of coins and bars online from us or (c) transfer the gold/silver to another account.
A Registered Member's account (“Account”) shall always reflect the business deposit balance in his Platform account and the balance of net bullion purchased by him / her lying in the vault. The Registered Member may transfer business deposit money with Augmont and withdraw the same from the Platform Account as and when he/she requires.By clicking on the 'Deposit Funds' tab on website, you will be provided with various options for depositing advance money like Net Banking, Debit Card, RTGS, NEFT, NACH, Wallet, Cheque and DD. By Clicking on Net Banking or Debit Card, you will be redirected to the online payment gateway. You can, then, transfer such business deposit to Augmont and the same will reflect in your Platform account immediately. In case of payments done by RTGS, NEFT, Cheque or DD, your Platform account will be credited within 48 Hours of receipt of such business deposit by Augmont. Surplus funds lying in an Platform Account of a Registered Member shall remain with Augmont. The Registered Member may place a request for withdrawal of a specific amount from the business deposit with Augmont. Augmont shall transfer such amount to the bank account of the concerned Registered Member within seven working days from the date of receipt of such withdrawal request. In case such surplus funds are lying with Augmont for a period of more than 180 days, the system shall generate a withdrawal request of such surplus funds and the same shall be transferred to the bank account of the concerned Registered Member within seven working days However, Augmont may deduct charges for generating such withdrawal request as per its own discretion. You cannot withdraw the amount from your account to your bank account without performing any buy and sell transactionsWhen you buy gold / silver through your Account on the Platform, you can use the amount of the business deposit towards the amount payable for the purchase in your Account. Similarly, when you sell gold / silver from your Account on the Platform, the amount of the transaction can be added to the business deposit or bank account as per your request in your Account. No interest would be payable on the business deposits maintained by you in the Account or with Augmont. You may withdraw a part or the entire business deposit in your Account upon request to Augmont. The withdrawal may be effectuated by such means as Augmont may decide at its sole discretion. Such means may include electronic transfer of funds to your bank account and payment through cheque.While it is unlikely, there could be negative deposit in your Account due to reasons such as charges debit, inadvertently processing buy orders exceeding the business deposit, techincal issue etcetera. In such a case, you would promptly transfer funds to your Platform Account to the extent of the negative balance. If payment is not received within a reasonable time, your Account may be closed, without prior notification. In such an event, you will be liable for any resulting losses and all associated costs incurred by Augmont.
PLACEMENT OF ORDERS
The market prices of bullion shown on the Platform would be an invitation to offer to all eligible Account holders. An order legitimately placed by an eligible Account holder would constitute an offer for purchase or sale of the Gold or Silver, as the case may be. Augmont may accept or reject such an offer, at its discretion.Though orders would usually be attended to within seconds, certain orders, at Augmont's discretion, may be subject to manual review and entry, which may cause delays in the processing of your orders. You also accept that you will receive the price at which your order executes in our systems, which may be different from the price at which Gold or Silver is trading at when you enter your order into our system. You acknowledge that you cannot modify an order once placed and that orders may get executed at a price significantly unfavorable to you, depending upon market fluctuations.BUYING / SELLINGThe common parameters with respect to buying / selling are as follows:
Buy / Sell Price Spreads: The Platform will continuously provide buy / sell prices for the gold / silver on the platform. The buy / sell prices and the spread between them could change on the basis of various factors including price volatility, supply factors, external market conditions, etc.
Price Quote Requests: Registered Members could request market price quotes for gold / silver they wish to buy / sell in, and could buy and sell at the quoted price by placing orders. Currently this facility is not available.
An order which does not confirm to the specifications laid down by Augmont and the Platform shall be considered as void.
Quantity of Gold / Silver earned through any promotional offers on Augmont app is non-saleable. However, a customer can request a physical delivery of this Gold / Silver by paying nominal making and delivery charges.
Cashback or amount received through any promotional offers on Augmont app cannot be withdrawn. However, this can be used to purchase Gold / Silver or to request physical delivery of Gold / Silver on the Augmont app.
Buying / selling FunctionsFollowing functions can be performed by the Registered member:
Buy: A Registered member can buy gold and silver in any quantity in grams upto four decimals. There is no upper limit on purchase quantity. The customer shall pay the amount using a payment gateway immediately at the time of buying the gold/silver. Upon successful execution of buying, the purchased Bullion will reflect in the Registered Member's Platform Account. The Registered Member can also utilize his/her business deposit for the buying of Golf and Silver. On execution of every buy order, Augmont / the Platform will purchase corresponding quantity of physical Bullion (as the case may be) and deliver it to the custodian who stores their bullion in the designated secured vaults.
Hold: The Bullion purchased by a Registered Member can be stored with the custodian in a designated vault.
Sell: The gold and silver held by a Registered Member can be sold back to Augmont in any quantity in grams upto four decimals. Registered member can sell only the bullion which is lying in the vault on his/her behalf. Upon successful execution of sale, the sold quantity of Bullion will be deducted from the Registered Member's Platform Account and the appropriate amount of funds will be added to her/his Account. The gold or silver bought cannot be sold within 48 hours from the time of buying.TAXES, BROKERAGE AND OTHER CHARGESNo brokerage will be charged to Registered Members for any buy and sell done by them. For each buy and sell conducted by a Registered Member, an e-invoice will be generated in the name of the Member.All taxes, duties, levies etcetera, as applicable, will be borne by the concerned Registered Member. Augmont shall not be responsible for such statutory taxes.
In order to ensure smooth and efficient operations, Augmont may appoint one or more agents (including a Commission agent) on your behalf, from time to time. If required, you agree to ratify such appointment(s) retrospectively. All agents shall have the right to terminate their appointment at any time, without prior notice to you.The Commission agent appointed by Augmont on your behalf shall be appointed for a limited purpose of representing you and acting on your behalf - to take deliveries/constructive deliveries, make and receive payments for trades done by you on the Platform. Your acceptance of these Terms and Conditions of Access and Use shall form consideration for appointment of the Commission Agent.All payments from and to you shall be appropriated through the Commission agent as and when required. Notwithstanding the above mechanism, all statutory liability (including GST and other applicable taxes) shall always be to your account, and you shall indemnify the Commission Agent for any losses suffered for acting as your agent.
The Platform offers services for users who wish to request for the delivery of the gold and silver bought by the users and lying in the vaults. The Platform displays the articles that are available for delivery along with the making and delivery charges for each article. Some items may appear slightly larger or smaller than actual size due to screen defaults and photography techniques. Sometimes the items may be represented larger than the actual size in order to clearly show details or smaller than the actual size in order to show the entire item. The Company shall not be liable for any legal action on this account. All the details regarding the product shall be clearly displayed on the Platform.This facility shall be available to all registered users of the Platform. Any registered user who wishes to request delivery of the gold and silver from the Platform can choose from the selection of Jewellery and Coins and Bars available on the Platform and add the item to the shopping cart.ProductInfrequently, data may be inaccurately displayed on the Platform due to system errors. Augmont reserves the right to correct any and all errors when they do occur and Augmont shall not honour inaccurate or erroneous prices. The delivery charges on the Platform are also subject to change without notice. For any order the delivery charges on the day the order is confirmed prevails. The delivery charges of the products listed on the Platform are fixed and not negotiable.DeliveryDelivery shall be made by the Company / courier agent at your doorstep. All items shall be delivered directly to such person and under any circumstances whatsoever, the Member cannot change the recipient details after the order is processed. The Member has the option to change the shipping address, before the product is actually shipped. In the event the Member wishes to change the shipping address, he / she has to log-in to his / her user account on the Platform and click on the "Change Shipping Address" button next to the shipping address and change the address or can request the helpdesk via email. However the Shipping Address cannot be changed once the order is processed.Recipient accepting delivery should carefully examine the package delivered and shall not accept deliveries where the packaging has been tampered with. The recipient receiving the delivery also has the option to open the package and check its contents prior to accepting the delivery or signing the delivery receipt. They shall not accept deliveries, where they find that the box is empty or the contents are damaged or the contents are not in accordance to the order placed.The recipient, upon signing the delivery receipt, acknowledges the receipt of the product in terms of the order placed with the Company. The Company is not liable to the Customer / recipient for any refund / replacement, under any circumstance, for any subsequent complaints with respect to such deliveriesIf the recipient is not available at the time of delivery, the Company / courier agent shall try and deliver the item thrice before returning the same to Augmont. All costs for re-shipment and handling in the case of non-delivery to the Customer shall be chargeable to the Customer.Return & Replacement PolicyIn the event you receive a damaged / defective article or an article that does not comply with the specifications as per your original order, you are required to get in touch with the customer service team within 3 business days from the date of receipt of such delivery.Upon receiving your complaint, Augmont shall verify the authenticity and the nature of the complaint. If Augmont is convinced that the complaint is genuine, Augmont shall provide a free replacement subject to the Product being sealed and is returned in the same tamper proof blister packaging in which it was delivered to the Customer. However, in the event of frivolous and unjustified complaints regarding the quality and content of the products, Augmont reserves the right to pursue necessary legal actions against you and you will be solely liable for all costs incurred by Augmont in this regard.Before accepting shipment of any product, kindly ensure that the product's packaging is not damaged or tampered. If you observe that the package is damaged or tampered, request you to refuse to accept delivery and inform Augmont at the earliest. The return process of the product may be restricted by Augmont depending on the nature and category of the product.RefundsAny refunds due by Augmont to the user for non-availability of articles shall be credited to the registered user's business deposits balance with Augmont.
TRANSFER THROUGH SUCCESSION
Any gold / silver lying in vault and the business deposit is non-transferrable unless specifically allowed by Augmont. However, in case of death or insanity, Augmont shall transfer such gold / silver, and advance balance to your legal heir(s) after the required due diligence and your legal heir(s) shall be regarded as the Registered User thereafter.
SYSTEMATIC INVESTMENT PLAN
Systematic Investment Plan (henceforth referred to as “SIP") is a disciplined accumulation of Gold/Silver. The SIP enables the member to buy gold and silver of a certain fixed amount every month and accumulate Gold/Silver at periodic intervals at a “Configured Price”.
The Configured Price for SIP shall be calculated by the Platform on every Business Day and shall be displayed on the Platform before 1 pm which shall be final and binding for everyone. A Business Day means any day other than Sunday or a day declared as holiday under the Negotiable Instruments Act, 1881 or a day on which normal business could not be transacted due to storms, floods, strikes, riots or any other events as Augmont may specify from time to time.
To start the SIP, the member needs to log in to his/her account, click on the SIP link and fill in a simple form specifying the choices and submit. After successfully submitting SIP application, the member will get a confirmation sms/email.
The member can start their SIP with the minimum amount of ₹ 1000 per month and can invest in multiples of ₹ 1000 thereafter.
The member gets an option to buy additional quantities of gold and silver in the existing SIP and the said quantity shall be added to the SIP quantity for the tenure. The member can choose the duration of this SIP which can range from 1 year to 10 years.
The member gets an option to choose the SIP date cycle from the four options viz. 5th/12th/19th/26th of every month. e.g. If the member submits the SIP application on 7th October and selects the SIP cycle date as 12th of each month, then the SIP will initiate on 12th October. However, if they choose the SIP cycle date as 5th of each month, then the SIP start date will be 5th November.
One cannot change the amount of SIP, duration and cycle date once the request is submitted. In order to change one has to terminate the existing SIP and register for a new one. There are no charges currently for doing the same.
The frequency of buying is once per month. So, if the member chooses the SIP amount to be ₹ 1000 per month in SIP, ₹ 1000 is utilized for purchasing the Gold/Silver.
The Registered Member can request for termination of his existing SIP by contacting the customer help desk. SIP will be terminated only upon the completion of the current SIP cycle month. e.g. If the member has selected 5th of every month as his SIP cycle date and his SIP is active, and the member decides to exit the SIP on 10th of the month, the cycle will continue till 4th of next month and then terminate.At the end of SIP tenure or on SIP termination, the member may sell the gold and silver at the market price displayed on the Platform. Alternatively, the member can request for termination of his account with us in which case the gold and silver shall get sold at the market rate and the proceeds shall be remitted to the member's bank account.
You may not sell Gold / Silver under SIP but you can request the delivery of the gold and silver accumulated during the tenure of the SIP. Alternately you may sell the gold and silver under the SIP at the end of the tenure.
In case you miss your monthly SIP installment, you will be given a grace period of 60 days. Within the grace period, if you do not transfer sufficient funds in your account, then your SIP may be treated as 'defaulted' and your SIP may be irreversibly terminated.
The SIP is neither a financial product nor a deposit scheme but a disciplined method of accumulating Gold/Silver. Augmont offers no investment advice or any assured returns while promoting the SIP.
TERMS AND CONDITIONS FOR EMI
The Scheme is unique and shall not be linked to any other existing or future Schemes/Offers and is not transferable under any circumstances.
The product purchased and the specifications mentioned upon Order Confirmation cannot be changed during the tenure of the scheme and the Customer shall make the payments as per the payment schedule provided during Order confirmation.
The money paid as booking amount under the Scheme shall not bear any interest.
Augmont shall issue a system generated Proforma Invoice to the customer at the time of Order Confirmation, a Payment Receipt upon payment of every EMI and Final Tax Invoice at the time of Delivery of the Product. The product shall be delivered at the delivery location provided by Customer within 14 working days of receiving the full payment from the Customer.
The Customer may be provided a grace period of 5 days every month beyond his/her respective payment due date. In case the customer fails to make payment beyond such grace period, then Augmont at its sole discretion may cancel the order as per the terms explained below.
When a Customer cancels the Purchase Order before the payment of last EMI or where Augmont cancels the Purchase Order of the Customer pursuant to above, Augmont shall be entitled to deduct such charges in the following manner from the amount paid by the Customer towards the Purchase of the Product:
a. The cancellation charges for each product shall be updated by Augmont on a daily basis for facilitating cancellation.b. If the cancellation charges as on the date and time of cancellation is higher/lower than the Order Value, then the difference between the order value and the cancellation rate as on the date of cancellation plus an amount equivalent to 2.36% of the order value shall be deducted from the payments made by the customer and balance shall be refunded to the customer's bank account only.
Any changes in GST or any other government taxes shall be collected from the customer at the time of delivery/closure.
In the unfortunate event of death of the customer, the product shall be handed over to the legal heir of the Customer after due verification.
Augmont reserves the right to alter the terms and conditions without intimation to the customer and the customer shall abide with such alterations. In case of any dispute, the courts of Mumbai shall have exclusive jurisdiction to resolve such disputes.
Order fulfilment by Augmont is subject to the realization of the total Purchase Price from the Customer.
The Customer is advised that proper KYC is updated at the time of purchasing the Product to enable Augmont to identify the Bona fide Customer. In any case the Customer will be prompted to provide their PAN details once the Customer's Purchase Order reaches a certain threshold limit.
Augmont reserves the right to stop facilitating the Scheme on Platform at its sole discretion. All Orders previously placed shall stand active and shall be fulfilled by Augmont.
Augmont does not charge any processing fee for the purpose of facilitating the Scheme for its Customers
The photographs and impressions displayed on the platform are for reference only and are not to scale. The size, colour, finish, lustre, and other visual parameters of the actual product may differ to an extent from the photographs and impressions displayed on the Platform. The Products shall be considered to have a defect in quality if they have an inherent material or manufacturing defect. Minor deviations from the image shown on the Platform shall not qualify as a defect. Augmont shall not be liable for any action on this account.
Augmont or Platform shall not be responsible for any unauthorized use of credit or debit card for making any transaction and shall have no liability either to the true holder of any credit or debit card or to the concerned bank for any unauthorized / fraudulent use of payment instruments. In no event Augmont shall be held liable to the true holder of any credit or debit card or to the concerned bank for processing and fulfilling its obligation upon realization of entire Purchase Price towards such fraudulent transaction.
Augmont will communicate with the Customer by email or other electronic methods which will be deemed as adequate means for service of notice or communication.
All transactions on the Platform and use of services of Augmont shall be subject to true, fair and accurate disclosure of information by the Customer as may be called for.
The recipient of the Products is obliged to produce identity proof and/or address proof or such other documents to verify and establish as being bona fide Purchaser/ Recipient at the time of delivery to ensure safe delivery of the Products purchased.
Delivery shall be made by the Company / courier agent at your doorstep. All items shall be delivered directly to such person and under any circumstances whatsoever, the Member cannot change the recipient details after the order is processed. The Member has the option to change the shipping address, before the product is actually shipped. In the event the Member wishes to change the shipping address, he / she has to log-in to his / her user account on the Platform and click on the "Change Shipping Address" button next to the shipping address and change the address or can request the helpdesk via email. However, the Shipping Address cannot be changed once the order is processed.
Recipient accepting delivery should carefully examine the package delivered and shall not accept deliveries where the packaging has been tampered with. The recipient receiving the delivery also has the option to open the package and check its contents prior to accepting the delivery or signing the delivery receipt. They shall not accept deliveries, where they find that the box is empty or the contents are damaged or the contents are not in accordance to the order placed.
The recipient, upon signing the delivery receipt, acknowledges the receipt of the product in terms of the order placed with the Company. The Company is not liable to the Customer / recipient for any refund / replacement, under any circumstance, for any subsequent complaints with respect to such deliveries.
If the recipient is not available at the time of delivery, the Company / courier agent shall try and deliver the item thrice before returning the same to Augmont. All costs for re-shipment and handling in the case of non-delivery to the Customer shall be chargeable to the Customer.
Return & Replacement Policy
In the event you receive a damaged / defective article or an article that does not comply with the specifications as per your original order, you are required to get in touch with the customer service team within 3 business days from the date of receipt of such delivery.
Upon receiving your complaint, Augmont shall verify the authenticity and the nature of the complaint. If Augmont is convinced that the complaint is genuine, Augmont shall provide a free replacement subject to the Product being sealed and is returned in the same tamper proof blister packaging in which it was delivered to the Customer. However, in the event of frivolous and unjustified complaints regarding the quality and content of the products, Augmont reserves the right to pursue necessary legal actions against you and you will be solely liable for all costs incurred by Augmont in this regard.
Before accepting shipment of any product, kindly ensure that the product's packaging is not damaged or tampered. If you observe that the package is damaged or tampered, request you to refuse to accept delivery and inform Augmont at the earliest. The return process of the product may be restricted by Augmont depending on the nature and category of the product.
Any refunds due by Augmont to the user for non-availability of articles shall be credited to the registered user's business deposits balance with Augmont.