These terms will apply to all dealings between Gold Smart Limited (“Gold Smart”) and any other person (“Customer”).

1. Identification

The Customer will be required to provide evidence satisfactory to Gold Smart (including photo identification) of the Customer’s date of birth; current residential address and telephone number. Gold Smart will not purchase items from persons under the age of 18 years.

2. Delivery and risk

Items sent by a Customer to Gold Smart will be at the risk of the Customer until actual receipt of the item by Gold Smart, at which point risk passes to Gold Smart. In the event that any item is returned by Gold Smart to the Customer, Gold Smart will either hand the item to the Customer or send the item by courier to the residential address provided by the Customer and risk of loss or damage to the item shall pass from Gold Smart to the Customer at the point the item is handed to the Customer or collected from Gold Smart by the courier (as the case may be).

3. Inspection and testing

Gold Smart will require items for inspection and testing prior to making any purchase. Inspection and testing will be undertaken at the location required by Gold Smart. Gold Smart will take reasonable care during inspection and testing, but shall not be responsible for any damage to any item where such damage arises from the inspection and testing process.

4. Customer’s warranties

The Customer warrants that: (a) the Customer is the legal and beneficial owner of all items sent or delivered to Gold Smart; (b) the items are not subject to any security interest or other financial arrangement; and (c) the Customer has the unconditional right to sell the items to Gold Smart.

5. Confirmation of purchase

In the event that Gold Smart wishes to purchase any item from the Customer, the details and terms of the transaction will be recorded in writing (“Purchase Confirmation Form”). No contract for the sale by the Customer of any item to Gold Smart will exist until such time as the Customer has confirmed agreement to the details set out on the Purchase Confirmation Form, either by signing the form or by some other means (e.g. by email). Precious stones will be removed from the items and returned to the Customer unless the Purchase Confirmation Form provides otherwise.

6. Transfer of ownership

Ownership of any item shall pass from the Customer to Gold Smart upon receipt by Gold Smart of confirmation from the Customer that the details set out on the Purchase Confirmation Form are accepted, and the Customer may request Gold Smart to return any item at any time prior to that occurring.

7. Payment

Gold Smart will make payment for items which are the subject of signed Purchase Confirmation Forms in the amount set out on the relevant form within one business day of receipt by Gold Smart of confirmation from the Customer that the details set out on the Purchase Confirmation Form are accepted. Payment may be made by direct deposit to the bank account nominated by the Customer, or by cheque handed to the Customer or posted to the residential address provided by the Customer.

8. Limitation of liability

Under no circumstances shall the measure of damages against Gold Smart for any breach of contract, negligence or other action or contravention of any statute or law include, nor will Gold Smart be liable for: (a) any amounts for any loss of income or profits or any indirect, consequential or punitive damages of any parties, including third parties; or (b) any amount which exceeds $500 per item.

9. Information and privacy

Gold Smart acknowledges its obligation to deal with personal information provided by the Customer in accordance with the Privacy Act 1993. Gold Smart will also keep all information relating to the dealings between the Customer and Gold Smart confidential, provided that Gold Smart shall be entitled to make disclosure of such information where this is required to comply with any applicable law.

10. General

All contracts between Gold Smart and the Customer: (a) shall be governed by the law of New Zealand; and (b) may only be varied by written agreement signed by both Gold Smart and the Customer.