Sales Terms
Sales Terms and Conditions
Thank you for choosing Universal Gold for your gold and other precious material investments. We abide by the following terms and conditions that govern the purchase of bullion by Universal Gold (“Universal Gold”, “UG”, “We”, “Us” or “Our”) and the purchase (“Purchase”, “Buyer”, “You”, “Your” or “any other context”). Please read our policies carefully as you agree to these terms while placing an order. Following are your rights as a customer.
Order placement and Confirmation
We accept your order by sending you a confirmation email. After sending the email, you form a contract with Universal Gold. We have the right to reject or cancel any order at any time due to any reason. If we doubt the legality of the transaction or the unavailability of products, we might cancel the order. In case of advance payments, your funds are sent back to you.
Taxes, Pricing and Payment Methods
Pricing: The pricing is in Canadian Dollars (CAD). Universal Gold possess the right to change the prices without any prior notice. We will charge you the cost relevant to the time of your purchase. Make sure that you are aware of the market price.
Payment Methods: You can use e-wallets, credit cards or bank wire transfers to make a payment. Please transfer the complete payment before your order is dispatched. Universal Gold does not accept funds in the form of cash or cheques.
Sales Tax: We offer complete transparency in pricing and sales taxes. The prices mentioned on the website do not include sales tax and any other fees. They are calculated at the checkout. Moreover, sales tax is subject to your location and the latest tax rates.
Shipping Methods, Fees and Risk of Loss
Shipping Methods: We offer multiple shipping methods for your convenience. We deliver within five to ten business days after confirmation of your order. The time of delivery depends on your shipment method and location.
Shipping Fees: Shipping fees are calculated based on the dimensions and weight of the products you purchase and your location/ delivery address. It will be visible to you before you proceed to checkout.
Risk of Loss: Every product on Universal Gold is insured. You are responsible for the loss of product once the product is sent over to the courier. But if you receive a damaged or a different product, let our customer support know immediately. We can refund or replace the product with its original packaging, see the refund policy under the Purchase Terms page. Contact us via email and send us the pictures so we can assist you with the replacement process.
Return and Cancellation conditions
Please keep in consideration that we have the right to cancel or reject any refund if the product is not in its original packaging or condition. Contact the customer sales department within 24 hours if there is any problem with the material. We will refund or replace the items if they fulfil our refund policy criteria.
If you want to cancel an order, contact us before it is dispatched. Call us or send an email to cancel your order. We are here 24/7 to assist you with your order and cooperate with you.
Liability and Disclaimer
Limitations: We are responsible for the claim on items purchased from Universal Gold only. We do not handle indirect, incidental, or consequential damages resulting from your transaction.
Disclaimer: We do not provide any warranty for the products we sell. The description and details of the products are mentioned clearly. We sell gold bullion items as-it-is. You are responsible for your investment plan and the risks with your choices. As a buyer, you hold the responsibility for the purchased product.
Privacy Policy
Universal Gold offers a stringent privacy policy. We never share your personal information with any third party without your consent until mandated by the law. We do not sell, leak, or trade your data or information. Our platform gathers your data to streamline your purchase and future orders, as well as customer care surveys and marketing. We strive to keep you updated on the new products and other details.
Bullion Market Prices And Availability Fluctuate Constantly: Universal Gold Adjusts its Bullion Prices Accordingly
The bullion items we buy and sell are commodities traded on various market platforms. This means their prices change constantly based on the market forces, supply as well as demand. Moreover, although our website shows both buying and selling prices, market movements may happen faster than the update on our website allow. You acknowledge and agree that Universal Gold exclusively decides the purchase price for the bullion we buy and the sale plus buy back prices for the bullion we offer. Furthermore, due to the ever changing nature of precious metal prices, all bullion sale or liquidation request must be placed by phone. However, if you have an enhanced account with Universal Gold (this service is not active and is voided), you can place orders through our website. This will be done in accordance with the “Enhanced Customer Account” terms. Therefore, ensuring that prices are locked in at the prevailing market rate.
Bullion Trading and Involuntary Liquidation Policy
Bullion Trading Activity
In some instances, increased trading activity in the bullion market may affect your ability to reach us by phone for different transactions. Moreover, regardless of trading volume, all bullion trading will continue to be carried out exclusively by telephone. It can also be conducted via our website if you hold an “Enhanced Account” (service is not active and is voided) with Universal Gold. We do not process bullion transactions through any other method.
Involuntary Liquidation of Orders
Selling Bullion to Universal Gold
If you agree on selling bullion to us but fail to deliver the complete quantity within the decided time frame then your sale will be involuntarily canceled. Furthermore, it will be liquidated on the 10th business day after your transaction date. Remember, a sale is considered complete only upon receipt of the bullion by us.
Alternatively, if the market prices have increased since your transaction then you will be charged with:
- A $150 cancellation fee
- The market difference, calculated based on the London Metals Market Fixing price on the 5th business day after your order.
In case, if the market prices have decreased then you will be charged with:
- A $250 cancellation fee
- No benefit from any decline in market value what so ever
Moreover, your credit card will be charged for any applicable losses based on price changes between the transaction date and the liquidation date.
Purchasing Bullion from Universal Gold
If you fail to make the payment for your bullion order as per our “Terms and Conditions”, we reserve the right to liquidate your order at market value at the time of liquidation, at our sole discretion. Moreover, you remain completely responsible for the decided upon order value. Including any difference if the market price at liquidation is lower than the original purchase price.
Alternatively, if you have multiple orders and fail to pay for one or more, we may:
- Hold the shipment of any paid orders until full payment is received for all orders
- Apply payments or bullion from a paid order toward unpaid balances
- Liquidate unpaid bullion holdings as needed to cover outstanding payments and market losses
Also remember, all market value calculations are decided on the difference between the agreed purchase price and the ongoing market price at the time of liquidation.
Order Reinstatement
If your order has been involuntarily liquidated, you may contact Universal Gold’s customer support to request a reinstatement. Orders will only be reinstated at either the original or current pricing, whichever will be higher at the time. Moreover, reinstatement waives any market loss fees, but valid credit card details must be provided.
Additional Terms and Condition of Universal Gold
This document outlines the terms and policies about transactions with Universal Gold. Including our trading procedures, order cancellation, pricing updates, and promotional offers as well as best price guarantees. By carrying out transactions with us, you will accept and agree to follow these terms.
- Reservation Of Rights
In regards to the policies outlined in this agreement, Universal Gold has the following rights, which may be used at our sole and absolute discretion.
1.1 Right To Refuse Services
Universal Gold holds the right to refuse services to any person or entity at our discretion.
1.2 Right To Correct Errors In Orders
We hold the right to correct any typographical, clerical, or other errors in any order. If a correction is necessary, we will make a proper effort to alert you of any changes that may affect your order.
1.3 Right To Cancel Orders
We also reserve the right to cancel any order at any time and you will be provided with a solid reason. If an order is canceled, we will alert you and issue a refund for any amount paid, cutting off any applicable costs or fees associated with the cancellation.
1.4 Right To Require Bank Wire Transfers
At our discretion, we may ask for payment to be made through bank wire transfer.
1.5 Right To Change Terms And Conditions
Universal Gold holds the right to correct or change any terms and conditions of sale at any time, without giving any notice before.
1.6 Right To Accept Or Reject any Deficient Payments
We may accept or reject any late or otherwise deficient payments. Moreover, including liquidation costs, at our sole discretion.
1.7 Right To Hold Payments And Shipments to Comply with FINTRAC and Legal Requirements
If we decide that payments made to us may need reporting to FINTRAC or other regulatory authorities then we reserve the right to withhold payments and shipments until all required information has been provided to our satisfaction. Moreover, if we are unable to access or check the required information, we reserve the right to cancel and liquidate your order.
1.8 Right To Hold Payments For Verification
We may place a temporary hold on any payment until it has been fully verified and cleared. For our first time customers, we also require additional verification, including a valid credit card to be used as a precaution against illegal or fraud transactions. All holds will be removed as soon as verification has been completed.
1.9 Computation Of Time Periods
Unless otherwise stated, time frame specified in this agreement begins on the first business day following the placement of your order. However, in case the last day of the time frame falls on a non business day then the deadline will be moved to the next business day.
1.10 Governing Law And General Provisions
This policy agreement is governed by the laws of Canada. Any disregards will be subject to the exclusive jurisdiction of Canada.
Moreover, this agreement pertains to the full and complete knowledge between the parties, and no other verbal or written agreements or representations will be considered binding. Unless otherwise mentioned in this document. Changes must be in writing and decided and agreed upon by both parties.
Failure to abide by any provision of this agreement shall not constitute a waiver of Universal Gold’s rights. Furthermore, if any section of this agreement is taken invalid or unenforceable, the remaining section will remain in effect.
All monetary transactions will be carried out in Canadian or U.S. dollars.
- Spot Price Alert Service
2.1 Live Market Pricing Updates
Universal Gold updates spot prices every 30 seconds throughout the whole day to reflect real time global market changes.
2.2 Nature Of Spot Price Alerts
If you subscribe to our price alerts, you may receive notifications at any time, day or night, based on the real time price changes. However, these alerts do not lock in any buy or sell price and therefore, should not be taken as financial advice or recommendation for action.
2.3 Responsibility For Market Monitoring
This service is provided only for informational purposes. Universal Gold does not guarantee the accuracy or completeness of the pricing information. You are completely responsible for monitoring market conditions and making investment decisions based on your will. We will take no liability for market gains or losses resulting from reliance on this service.
2.4 Service Limitations
Due to technical limitations, delays, or failures beyond our control, we cannot guarantee constant operation of the pricing alert service. Moreover, standard SMS or phone message rates from your carrier may apply.
- Coupons and Discount
3.1 Promotional Coupon Codes
Universal Gold time to time offers promotional coupon codes for customer use. These promotions may be availed for discounts on orders as a part of customer rewards.
3.2 Validity Of Coupons
Unless otherwise specified, coupons will remain valid until their mentioned expiration date or until the given quantity threshold has been reached.
3.3 Right To Modify Or Revoke Coupons
We hold the right to activate, deactivate, or make changes to the coupon codes at any time without giving notice beforehand. Moreover, if you have any concerns about a specific coupon, please contact our support team.
3.4 Currency Conversion
All coupon values are calculated in Canadian dollars.
- Best Price Guarantee
4.1 Price Matching Policy
Universal Gold offers the Best Price Guarantee, matching any Canadian competitor’s all in price on every product we sell. The all in price includes the competitor’s listed price plus shipping as well as insurance charges.
4.2 Conditions for Price Matching
- The competitor must be a legitimate Canadian bullion dealer.
- The price match must be requested before placing an order and must be verified by our team.
- The price match is only available for orders placed through telephone.
4.3 Temporary Suspension during Market Volatility
During phases of extreme market volatility or supply disruptions, Universal Gold holds the right to temporarily stop the Best Price Guarantee to make sure of the business sustainability. Once market conditions get back to normal, the guarantee will be reinstated.
Final Acknowledgment
By engaging in transactions with Universal Gold, you acknowledge that you have read, understood, and agreed to these terms and conditions. If you have any questions regarding our policy, please contact our customer support team at info@universalgold.ca.
Changes in Terms and Governing Law
Our terms and conditions are developed in correspondence with Ontario, Canada’s provincial laws. Any conflicts resulting from or connected to these Terms will be within Ontario’s exclusive courts’ jurisdiction.
Universal Gold holds all the rights to change the privacy policy or other terms and conditions that benefit all. We are transparent about our policies. All the new information is displayed on the website. We keep updating the system to make sure that you enjoy the best service.
