Terms and Conditions — Bulk Bullion Skip to content

Terms and Conditions

General

These Terms apply to all dealings between you, a client, (collectively referred to as “you” or “your”) and Bulk Bullion Pty Ltd (ACN 656 497 728) (collectively referred to as “BB”, “we”, “our” and “us”) regardless of the facility/device/ mechanism used to facilitate the dealings.

We will not be responsible for any loss or liability incurred by you arising or in any way connected with any dealing or transaction with us, contemplated or actual, except to the extent of liability imposed by the ACL.

Any information provided by us including information posted on our website is indicative and for information only. We do not warrant the accuracy of that information and you should not rely on that information.

You acknowledge that by creating an Account, placing an offer to buy a Product and/or placing an offer to sell a Product to BB, you evidence your acceptance of these Terms.

Your Account / Contract With Us

Before we can Contract with you, you must establish an Account with us. You cannot submit an offer to buy or sell until your Account has been established. 

You may submit an offer to buy a Product from BB (including the deposit of Available Funds with BB) or sell a Product to BB however we are not bound to accept any offer/order/inquiry received from you.

If your offer to buy a Product from BB is accepted, BB will raise an invoice for the price of the Product quoted by BB at the time the offer was made.

If your offer to sell a Product to BB is accepted, BB will raise a purchase order for the price of the Product quoted by BB at the time the offer was made.

You enter into a binding Contract with us at the time an invoice or purchase order is raised by us, whether placed in our offices, by phone, email or through our website.

Payment terms for purchases of Products from BB by you under the Contract is within one Business Day from the time of processing unless agreed by us otherwise and are usually set out in the invoice we send you. Non-payment within the time specified will result in a default by you of your obligations and you will be liable to additional costs and possibly damages.

Payment terms for purchases by BB under the Contract is within one Business Day from the time of processing unless otherwise advised by us and will usually be set out in the purchase order we send you.

The price quoted by BB at the time of submission of your offer is indicative only and subject to our confirmation within the invoice or purchase order we send you.

We reserve the right to correct any errors which may be shown in the quote, invoice or purchase order at any time upon notice to you, including without limitation the price and you must accept the new corrected invoice or purchase order.

Products purchased by you will be made available to you at the time specified on the invoice based upon availability at the time.

Customer Identification / Online ID Check

You must be over the age of 18 to transact with Australian Bullion Company.

Under the AML/CTF Act, BB is required to be able to appropriately identify customers buying bullion products for orders, over the phone or online. We may ask you to provide appropriate identification (ID) documents prior to the commencement of trade.

If you do not wish to attend our office, we can collect Your Information and verify your identity electronically. In order to do so, we will ask you for Your Information and details of your identification documents.  Your Information will be passed to external organisations in order to electronically match your information with identification data on their databases.  These organisations will assess and advise us whether all or some of Your Information you provide match their records.

The external organisations used to match Your Information and identity include but are not limited to Trulioo: https://www.trulioo.com and Document Verification Service (DVS):  http://www.dvs.gov.au

Neither BB not its out-sourced service providers will access records held about you by these external organisations other than for the purpose of matching Your Information you have chosen to enter through the BB website.

If we are unable to verify your identity electronically, we will advise you if this is the case within 24-48 hours.

We must obtain express and informed consent from you prior to making a verification request; this consent can be indicated online or on the phone.

Your Commitments

You warrant that all information provided by you in your Account application is complete, accurate and correct and is not misleading. We may rely on that information unless and until we receive written notice of any change signed by you. Any such varied information will be covered by this warranty.  You agree and warrant that you will notify BB immediately of any errors or omissions in our records with respect to your details or Account, all changes must be received in writing or via email.

You warrant that you have full capacity, power and are otherwise properly authorised to enter into obligations and exercise rights pursuant to these Terms.

If you are the trustee of a trust or a superannuation fund you further warrant that any transaction is for the benefit of the trust or superannuation fund and that you have the right to be fully indemnified out of trust assets or the superannuation fund for obligations incurred in any transaction.

You represent that at all times during your dealings with us you will be in a position to meet all your commitments and obligations arising from these dealings.

BB has the right to correct any trading or administrative errors including but not limited to reversing or cancelling an invoice or purchase order without your consent and without liability or recourse against BB.

BB’s operating policy is as follows. BB endeavours to deal fairly and in due turn with all orders to buy and sell Product regardless of your instructions, source or method of delivery. It is the practice of BB to deal with all orders in the sequence in which they are received, and otherwise as expeditiously as practicable but no Product will be released or dispatched earlier than receipt of notification by BB from its bank of the purchase monies becoming Available Funds.

BB reserves the right to suspend trading, or immediate fulfillment of orders in times of high market volatility or fast-moving market conditions. Accordingly, if a particular brand of Product is not available at the time you enter into an agreement with BB to provide an BB Storage Service, that Product may at BB’s discretion be replaced with an equivalent weight of an alternate brand of metal until such time as the branded Product ordered by you is delivered to BB.

Pricing

Prices published by BB and quoted at the time of submission of your application are indicative only. Subject to these Terms, the pricing of your order is fixed (based on a premium over the spot price of the metals) at the time of confirmation within the tax invoice or purchase order we send you (based on a price below the spot price of the metals).

We reserve the right to correct any errors that may be shown in the tax invoice or purchase order at any time upon notice to you, including without limitation the price, and you must accept the corrected invoice or purchase order.

BB takes no responsibility for any price feed errors from third party sources and reserves the right to correct or amend invoices or purchase orders should external feeds be interrupted or unavailable.

All prices quoted exclude storage, delivery and insurance charges unless expressly included. You acknowledge that you must pay for upon receipt of invoice and take delivery or arrange for storage of the Product sold to you within 14 calendar days of receipt of advice that the Product is available for collection after which the Product will be stored at your risk and expense.

All prices are subject to availability and can be withdrawn or varied without notice. The price is only guaranteed once paid for in full by you.  Prices quoted in our office may be higher than prices quoted on the BB website.

Delivery, Title, Risk and Insurance 

When we agree to arrange delivery, transport, insurance or storage of Product on your behalf, we do so as your agent and to the maximum extent permitted by law, without liability.

Title in any Product passes to you when we receive Available Funds.

Risk in any Product passes to you where in pursuance of a contract of sale BB is authorised or required to send the goods to you or delivery to a carrier (whether named by you or not) for the purpose of transmission to you. You assume all risk and liability for loss, damage, injury to persons or your property, or property belonging to a third person, arising out of the use, possession of or dealings with any of the Product sold by us, (including changes in your financial situation), unless recoverable from us on the failure of any statutory guarantee under the ACL.

As security for the due and punctual payment of the Secured Moneys, you grant BB a Security Interest in all Products held by BB on your behalf.

If you select not to insure your Product whilst in transit from BB to your nominated shipping address, the Risk in any Product passes to you where in pursuance of a contract of sale BB is authorised or required to send the goods to you or delivery to a carrier (whether named by you or not) for the purpose of transmission to you. You assume all risk and liability for loss, damage, injury to persons or your property, or property belonging to a third person, arising out of the use, possession of or dealings with any of the Product sold by us, (including changes in your financial situation), unless recoverable from us on the failure of any statutory guarantee under the ACL.

We will use our reasonable endeavours to meet any estimated dates for delivery of the Product but will not be liable for any loss or damage suffered by you or any third party for failure to meet any estimated date.

BB is not responsible to you or any person claiming through you for any loss or damage to the Product in transit caused by any event of any kind or by any person (whether or not BB is legally responsible for the actions of that person).

BB will provide you with such assistance as is reasonably necessary to institute claims against a carrier for damages/loss to Products in transit so long as you have paid for insurance and you have notified BB and the carrier in writing immediately after loss is discovered by you and in case of damage on receipt of Product; and served a claim for compensation on the carrier within 5 days of the date of discovery of loss or date of receipt of the Product.

For all online orders over $20,000, please contact us via phone (1300 242 393) or email (sales@bulkbullion.com.au) for a shipping quote.

Payment, Settlement and Default

You must pay BB:

The full purchase price for any Product, commission, fees and charges in connection with your Account and our services at the rates and currency notified by us in writing from time to time;

Any fees, taxes or other charges levied by a third party on BB in connection with your order or Account, including but not limited to charges by banks or financial institutions; and

Interest on any unpaid amounts at the Reserve Bank of Australia Cash Rate plus 4% per annum from the day the amount falls due until the date the amount is paid.

You are required to provide Available Funds to pay for all costs in connection with a purchase of Product, by settlement date or at any earlier time as required by BB.

In the event of any default by you in the fulfillment of any of your obligations to us:

You must pay us a default administrative fee of AUD $300 + GST for each default; and

You must compensate and indemnify us (including our subsidiaries, and their respective directors, employees, contractors and agents) in respect of any and all losses, claims and expenses incurred by us as a result of your default; and

Without limiting the generality of (b) above, we may exit all and any positions taken by us in relation to your Contract, including any physical contracts, in which case you will indemnify us in respect of any costs and losses we may incur as a result of exiting any position; and

Without limiting the generality of (b) above, if you default in payment of an invoice (which includes termination or cancellation of an order by you) you will pay us the difference between the price invoiced to you for any Product, and the current buyback price (as determined by us) of the Product as at the date your default is processed; and

Without limiting the generality of (b) above, if you default in payment of an invoice and your invoice remains outstanding for over ninety (90) days, BB may call on the Security Interest granted by you pursuant to these Terms and seize and dispose of Products held by us in satisfaction of monies owed by you to BB pursuant to Chapter 4 of the PPSA.

We may refuse to accept or fulfil any further orders from you for Product.

We do not accept any form of bank cheque as payment.

Returns & Refunds

BB guarantees the authenticity, quality and specification of all bullion products for sale.

If the customer receives the incorrect item from BB, BB will either refund the purchase price in full or exchange the item for the customer. This is on the condition that the following procedures are followed:

1. The customer has a period of 24 hours from delivery of the items (according to the confirmed tracking information) to inspect the items to ensure that they are "as described" and as listed in the Invoice. Should an item differ from the item description or invoice, the customer must (within the 24 hour period from receiving the goods) provide written notice to BB of the issue at hand. Such correspondence must include complete particulars, and images if need be, of the issue at hand.

2. BB will then provide the customer with packaging advice and shipping instructions. The return shipping and liability of the items in transit are the responsibility of the customer until the tracking confirms it is has been received by BB. The customer must insure the item in transit to BB. The customer must ensure that the item is adequately packaged so that it is not damaged during transit.

3. All items must be received back to BB in the identical condition as they were received by the customer. Any items that are to be exchanged will be actioned once the original items have been received by BB

4. BB will not accept any returns or exchanges for the following reasons: You have changed your mind; You are having financial problems; You have found a different item which you prefer.

Authorities

In connection with the establishment of these arrangements and the collection of overdue payments, you authorise us to supply relevant information contained in your application form and other records to a credit reporting agency and to obtain credit reports about you from any credit reporting agency.

You authorise us to record any telephone conversation(s) between you and us, with or without an audible tone warning device.

You agree to pay our normal commission fees and to reimburse us for any extraneous costs, such as GST, for transactions made on your behalf.

You authorise us to appropriate any credits, payments and other receipts from you or from your Account in such manner and order as we think fit against any amounts due or owing by you to us.

Liability

Except as these Terms state, or as contained in any express warranty provided in relation to the Product, the Contract does not include by implication any other term, condition or warranty in respect of the quality, merchantability, acceptability, fitness for purpose, condition, description, assembly, manufacture, design or performance of the Product or any contractual remedy for their failure.

If you are a Consumer, nothing in these Terms restricts, limits, or modifies your rights or remedies against us for failure of a statutory guarantee under the ACL.

You acknowledge that you have not relied on any service involving skill and judgement, or on any advice, recommendation, information, or assistance provided by us in relation to the Product(s) or their use or application; and you have not made known, either expressly or by implication, to us any purpose for which you require the goods or services and you have the sole responsibility of satisfying itself that the Product is suitable for your use. 

You agree to release BB, its subsidiaries, and their respective directors, employees, contractors and agents from any obligation or liability with respect to any loss, whether direct or consequential, that you suffer or incur in connection with your business dealings with BB except to the extent of liability imposed by the ACL.

Website Content

Content on this website may be generalised or summarised for the purpose of convenience and may have details omitted that could be significant to particular persons, or in a particular context.

Users should verify the relevance of the information on this website for their own business or personal needs. It is not intended to be nor should it be relied on as a substitute for legal or other professional advice.

Images are for illustration purposes only. Precious Metal Products supplied may vary in finish, including colour tone, surface texture and shape. Image quality may also vary when viewed on different browsers and mobile devices.

Material on this website is for non-commercial personal use only. All material, including internet pages, graphics, documents and videos is protected by copyright law. Copyright resides with BB. No part may be reproduced or re-used for any commercial purposes without written permission of BB.

Links

Any link or links on our website to an external site is provided for your convenience only. BB does not control or monitor such websites and is not responsible for the content or opinions that might be on them. We make no warranties or representations that material on other websites to which material is linked.

Security

While BB endeavours to provide a secure internet environment, users should note that there are inherent risks associated with transmission of information via the internet. BB provides alternate methods to obtain and provide information for those who do not wish to use public networks such as the internet. These include direct contact via telephone, facsimile or post.

BB has implemented what is considered appropriate security features for this website but it and the underlying systems may be subject to attack from unauthorised persons.

Your Obligations

You agree to provide accurate, true and current information about yourself and maintain that information. You are responsible for maintaining the confidentiality of your password and account information and the activities conducted on your account. You agree to notify us immediately of any unauthorised use of your password or any breach of security.

Availability

BB attempts to make this website available to users when required. However, BB cannot guarantee to provide continuous or uninterrupted access to this website. BB also cannot guarantee the website or software downloaded from it will be free from computer viruses.

Trademarks

The BB logo is a registered Trademarks of Bulk Bullion Pty Ltd. 

Privacy

BB and entities controlled by it are bound by the Australian Privacy Principles (or APP’s) and the Privacy Act (1988).

Our Privacy Policy is available here and should be read in conjunction with the above. It contains further details about our information collection and handling practices including information about other ways we may collect, use or exchange Your Information, how you may access and seek correction of Your Information; and how to make a complaint about a breach of your privacy rights and our complaint handling procedure.

Force Majeure

If BB is not able to perform any obligations under these Terms as a result of any event that is out of its control, including, government intervention, military activity, strikes, terrorism, financial crisis derivative meltdown, failure of a suppler or storage partner that may delay delivery BB shall not be liable for any damages as a result or in connection with such a delay or such failure.

Disclaimer

BB and its directors. shareholders or its employees are not registered investment advisors and they do not give investment advice, personalised advice or make personalised recommendations. You warrant that before transacting with us you have assessed and evaluated the proposed transaction in the light of your personal financial situation, investment objectives and particular needs.  

BB is not responsible for the reliability, completeness or accuracy of any third-party information it provides or makes available to you.

Comments made on this website are an expression of opinion only and should not be construed as recommendations to buy or sell a commodity at any time.

While BB strives to make sure all our statements are true and accurate, we use third party data and therefore depend on the reliability of our own credible sources. 

BB recommends you consult with your qualified investment advisor, before you make investment decisions.

Entire Agreement

These Terms replace any agreement that currently exists between you and us and the obligations entered into under the prior arrangement will be treated as if they were entered into pursuant to these Terms.

Variation

We reserve the right to vary these Terms in our sole discretion. Any variation of these Terms shall apply to all dealings between you and us from the day on which the variation takes effect.

Notice

Any notice, request, demand or other communication may be sent to your postal or electronic address last notified to us and the notice, request, demand or other communication shall be taken to have been received by you if sent by prepaid letter on the Business Day following posting and if sent by facsimile or other electronic means.

Termination

Subject to the completion of any outstanding obligations, these arrangements may be terminated by either party giving not less than seven days written notice to the other party.

Assignment

You must not assign any Agreement without prior written consent of BB. BB may assign any Agreement without notice to you.

Notice

If the whole or any part of a provision of any Agreement is or shall become void, unenforceable or illegal, the remainder of any Agreement shall have full force and effect. The parties agree that in such a case, the provision held void unenforceable or illegal shall be replaced by such provision that in its commercial and legal context is most similar to the provision held void, unenforceable or illegal.

Governing Law

These Terms are governed by the laws of Victoria and the Courts of Victoria have non-exclusive jurisdiction in relation to any disputes to which these Terms apply. 

Definitions 

In these Terms and Conditions unless context otherwise requires:

BB means Bulk Bullion Pty Ltd ABN 31 656 497 728
Account means an account held by BB on your behalf for the purpose of facilitating any transaction.
ACL means the Australian Consumer Law Schedule of the Competition and Consumer Act (2010).
AML/CTF Act means the Anti-Money Laundering and Counter-Terrorism Financing Act (2006).
AML/CTF Rules means the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No.1).
Available Funds means cleared funds, including funds which have been made available by means of direct debit.
Business Day means a day in which banks and foreign exchange markets are open for business in Melbourne, Australia.
Consumer  is as defined in the ACL and in determining if you are a consumer, the determination is made if you are a consumer under the Contract.
Contract  means the contract evidenced by and created when we issue an invoice or purchase order under these Terms.
PPSA means the Personal Property Securities Act (2010),  
Precious Metal means Gold, Silver, Platinum or Palladium.
Product means Precious Metals and any other products sold or purchased by us from time to time.
Related Body Corporate has the same meaning that is ascribed to that term in section 50 of the Corporations Act (2001) (Cth).
Secured Moneys means all purchase moneys, storage fees, interest fees, administrative fees, commission, costs, taxes, charges or other moneys owing by you to BB pursuant to this Agreement from time to time.
Security Interest means a security interest as defined by section 12 of the PPSA.
Terms means these Terms and Conditions.
Your Information means relevant information about you or your entity such as your full name, date of birth, business name, residential address, business address, ABN and your interactions with us (such as trades), copies of personal ID documents such as your driver’s licence, passport, Medicare card, bank statements, rates notices or any other documents that prove your identity or information about you that is publicly available, for example from public registers or social media.

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