Terms & Conditions
Legacy Gold SL (The Company), trading as Legacy Gold, is registered in Spain: BO4836367.
You become a new Customer of the Company by registering for an account online www.legacygold.eu (the Website).
The terms 'you' and 'Customer' are interchangeable in these Terms & Conditions.
In becoming a Customer, you are deemed to have accepted these Terms and Conditions.
The Company reserves the right to modify its Terms and Conditions by providing 30 days' notice and publishing such changes on the website.
During such notice period, a Customer has the right to terminate the relationship under the previous Terms and Conditions, otherwise they are deemed to agree to and accept the amended Terms and Conditions.
Customers may benefit from buying and selling gold through the Company's online platform. The Company endeavours to offer consistently low prices via their published buying rates and also through the use of limited period promotions, details of which are posted on the website and/or emailed to Customers from time to time.
Customers must be aged at least 18 years.
Customers may only maintain one account at any given time.
The Company reserves the right to refuse an account to any person at the sole discretion of the Company.
Legacy Gold, its officers, employees or representatives, do not offer investment advice.
No corporate marketing materials, printed or electronic, should be construed as investment or financial advice.
Customers should understand that gold can fall as well as increase in value.
PaymentThe Company accepts payments in various ways, including Credit/Debit Card payments. From time to time the Company may choose to refine or add to the various payment methods offered. Full details are available on the Company website.
Direct debit permits the Customer to be in complete control of all transactions, including being notified before a payment is taken. The Customer agrees to permit The Company to both record their banking details and to check them against identity documents that they have submitted.
The Direct Debit Guarantee (or the "Direct Debit Indemnity") is the Direct Debit scheme's customer protection. The Guarantee protects customers against payments made in error or fraudulently, making Direct Debit the UK's safest payment method. The full text of the Direct Debit Guarantee is available below.
The Direct Debit Guarantee
- This Guarantee is offered by all banks and building societies which accept instructions to pay Direct Debits.
- If there are any changes to the amount, date or interval of your Direct Debit, Go Cardless will notify you 3 working days in advance of your account being debited or as otherwise agreed. If you request Go Cardless to collect a payment, confirmation of the amount and date will be given to you at the time of the request.
- If an error is made in the payment of your Direct Debit, by Go Cardless or by your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society.
- You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required.
The Customer undertakes to provide clear details of the single bank account from which payments will be made and to which monies will be returned, by a method chosen by the Company, in the event of gold being sold back to the Company.
Consultants and active Affiliates may use Company-issued Prepaid MasterCards to receive and transfer funds.
Customers should be aware that because Legacy Gold use a Euro bank account, transaction fees may be incurred when making payments in £ Sterling. Unfortunately these are bank charges and are outside the Company's control.
Customers should also be aware that whenever payments are made on an international basis, funds may take several days to reach our account. In such cases, your purchases will always be charged at the price at which they were ordered (Fix on that day), but may not be allocated or despatched until cleared funds have been received.
Proof of identityCustomers undertake to identify themselves no later than 2 weeks after opening their account by submitting a scanned image or photograph of at least 1 of the 3 requested forms of identification as shown on the Registration pages of the Website.
Contact detailsThe Company maintains contact details for you at an email address and optionally at
- a mobile telephone
- a home telephone
- a home address
You accept a duty to keep your contact details held by the Company up to date and accurate, which you can do via the website. The Company is entitled to rely on the accuracy of the contact details supplied and as such, the Customer accepts that failure to maintain correct contact details indemnifies the Company against losses which may arise out of not maintaining correct contact details.
Customers are requested to contact Legacy Gold using the email address/es published on the website. The Company undertakes to return such contact within a 24-hour period.
Money laundering regulationsThe Company may report your activity to duly authorised government agencies with a formal right either to monitor bullion trading activity or investigate activity which arouses suspicion of money laundering.
The Company undertake to monitor all transactions which may be deemed excessive, abnormal or unusually high / frequent and use third party electronic checks and authorized, secure providers to do the same.
Data protectionYour personal and financial data is protected from unauthorised access by a password and other access data which you have a duty to keep secret. You understand that in order to provide reliable customer access, the Company has a procedure for re-issuing forgotten passwords. You accept the details of this password reset process.
You accept that the Company will send off-line information to you by email, including, but not limited to, acknowledgements of changes to your key account settings, login notifications, order confirmations, transaction details, contracts, monthly statements, price alerts, and changes to Terms and Conditions. You may not unsubscribe from emails relating to your account and its administration.
The Company may also send you general information regarding updates to its products and services, promotions and news bulletins. You may unsubscribe from these general updates by following the instructions included in such emails.
Where the Company reasonably believes your security or the security of the Company is at risk, it reserves the right to suspend or close any account without prior warning, but never to the extent that it would amount to an expropriation of your property.
Legacy Gold is designed to be a very secure home for legally acquired wealth. It is not a useful or secure resource for money launderers and the Company pledges to work closely with the authorities to combat any fraudulent activity.
For reasons relating to both security and anti-money-laundering legislation, the Company requires payments to come from a single bank account. For the same reasons, the Company will only release funds to the same bank account.
Your goldLegacy Gold undertakes to only supply assayed bullion bars as good delivery from recognised market professionals and according to the practices which exist in the local market.
This bullion is held as weighed and numbered bars in a form generally acceptable in settlement of local bullion markets sales, or as fine gold grain. In both forms the gold is guaranteed 999.9 fine gold.
Your physical gold is stored, wholly in your name, under the control of Legacy Gold's chosen supply partner, in secure vaults in the United Kingdom. Title to the gold reverts to the name of the Customer only when cleared funds have been received in the Company's bank account.
For reasons of security, the location is not published, but Customers are at liberty to physically see their gold by prior arrangement with the Company. Such requests will only be granted for holdings in excess of 0.5kg, although the Company will consider every request. Requests should be made to firstname.lastname@example.org.
The Legacy Gold Guarantee
- The gold is always stored in the name of the Customer;
- All accounts are regularly and independently audited to ensure rightful ownership of the gold and the integrity of supply;
- All orders are backed by the identical quantity of gold in storage at all times so, although extremely unlikely, all Customer requests are able to be fulfilled in the event of a 100% request for delivery at any time.
- We will buy back any genuine Betts / Legacy Gold branded bars (with proof of purchase and if the chain of integrity can be proven), at the advertised price of gold on that day, although there is no obligation to do so on behalf of the Company.
Customers are requested NOT to contact Legacy Gold's supply partners except in extreme circumstances eg. If Legacy Gold cannot be contacted. All contact should be made via email in the first instance to the Company address(es) published on the website.
The Company undertakes to provide the Customer with a complete history of transactions made with the Company, including a summary of gold holding in the Customer's account, in the Customer's Back Office available on the Website. In addition the Customer will receive an electronic invoice and Account Summary every time a transaction takes place.
StorageThe Company undertakes to pay storage and insurance fees on your behalf for the first 6 months following your first order. After 6 months have elapsed, the Company reserves the right to charge storage fees back to you, the Customer, at the rates published on the website.
The Company policy is to not deem storage and insurance charges as a 'profit-centre' for the Company but instead, will pass such fees on at a level approaching the cost to the Company.
DeliveryThe Company has the same approach when dealing with postage costs. Postage and delivery costs, together with types of delivery available, are published on the website.
You may request delivery of your gold at any time. Delivery will only be made to the address registered on our system.
Minimum delivery is for 1g and multiples of 1g. 1g bars attract a higher cost pro rata for handling and delivery. It is therefore more cost effective and it's recommended, that Customers take delivery of bars of 10g in weight or greater at any one time.
Where you have requested a delivery to your address you accept that the acts or omissions of any person at that address are fairly deemed to be acts or omissions by you. You accept an obligation to inspect your package prior to signing for receipt. You acknowledge that a signature applied by a package recipient at your address evidences a receipt of a package in appropriate condition.
Once a delivery has been accepted, liability and responsibility for the gold is relinquished by the Company and passes to the Customer.
The Customer agrees that excluding their rightful refusal to sign for receipt of the package, any returns to the Company for whatever reason shall be at their own expense.
Ordering & pricingAll orders are submitted online, in the Customer's personal Back Office and accepted by the Company at the London Gold Fix price as at 15.00 / 3.00pm on that day.
To qualify to be charged at that price, an order must be placed and completed (payment submitted) before 13.00 / 1.00pm on that day. All orders received after that time and prior to 13.00 / 1.00pm the next day, will be charged at the London Gold Fix as at 15.00 /3.00pm on that following day or the next working day in the event of weekends and bank holidays.
The Customer authorizes the Company to vary the amount payable for their order in accordance with the final Fix Price on that day, to a maximum of +/- 10% of the Spot Price advertised at the time of placing the order.
When selling gold back to the Company, the Company will pay the London Gold Fix price as at 15.00 / 3.00pm that day, if received before 13.00 / 1.00pm.
The Customer understands that they may be exposed to certain factors which are beyond the control of Legacy Gold and as such the Company may not be held responsible. Such factors include but are not limited to:
- Gold price movements: Customers are exposed to the risk of potential loss arising from a falling bullion price during the time in which you own bullion.
- Money politics: Governments and other agencies seeking currency stability, or for other reasons, might seek to constrain or tax the ownership of bullion to the disadvantage of its owners.
- Identity theft: If this happens a Customer may be at risk of unauthorised access to their account.
- System availability: Computer outages may happen and mean that the ordering platform is inaccessible for periods of time. This could prevent you from executing a transaction which you would otherwise have made.
- CUSTOMER RISK
We sell goods and buy metal, based on the global metal market's prices, which are outside our control, and change frequently. The historical performance of our price, or the global metal market's prices of goods and metal is not a reliable indicator of future prices.
- CANCELLATION RIGHTS
You have no statutory right to cancel the contract if you change your mind. This is because the prices of the goods and metal are subject to fluctuation: see the Risk notice above. Note: You can however choose to terminate your order at any time prior to delivery or final processing of your order. This will incur additional charges including but not limited to, a handling charge and a fee based on any adverse movement in the commodity price of your gold.
Death or incapacityIn the event of death or incapacity, the Customer permits the Company to allow your account to be maintained on your behalf by your duly authorised solicitor, appointed legal representative or appointed executors.
Affiliate ProgramThe Company runs an Affiliate programme which allows Customers to earn a portion of the commission charged on purchases made by Customers they have referred to us.
By becoming an Affiliate, you consent to the Terms and Conditions of our Reward Programme. Becoming an Affiliate is free of charge and can be done by upgrading on the website.
Customers who choose to upgrade to Consultant status in order to develop a home-based business promoting the Legacy Gold Platform, are advised that these Terms & Conditions, together with the Company Policies & Procedures and the Legacy Gold Reward Plan, jointly form the Business Contract between themselves and the Company.
System maintenanceThe system is scheduled to operate continually except where planned software updates and maintenance is necessary, which is usually carried out on weekends or in the evening. The Company will always strive to provide an advance warning notice via the website for planned downtime. There may also be planned service interruptions at other times where maintenance requires urgent action which cannot wait until a weekend. Such service interruptions will, where possible, be planned at times of lower public demand for the service.
Regulation & legislationModern financial services businesses in the UK and throughout Europe tend to be companies which deal in paper-based instruments generally called 'securities'. These services are subject to increasing legal regulation.
Because Legacy Gold offers a credit-free environment, and because it deals in the absolute ownership of physical gold acquired on the spot market, and not paper-based contractual rights extending beyond the normal settlement period of the spot market, it falls outside the defined scope of formal financial services regulation. Instead, the London bullion market is regulated by traditional English property law, and not by the United Kingdom's Financial Services Authority.
Exclusions & liabilityFor sales and purchases conducted in the UK, the following provisions set out the entire financial liability of Legacy Gold (including any liability for the acts or omissions of its employees, agents and sub-contractors) to you in respect of:
- any breach of these Terms and Conditions; and
- any representation, statement or tortious act or omission including negligence arising under or in connection with these Terms and Conditions.
All warranties, conditions and other terms implied by statute or common law (save for the conditions implied by section 12 of the Sale of Goods Act 1979) are, to the fullest extent permitted by law, excluded from these Terms and Conditions.
Nothing in these Terms and Conditions excludes or limits the liability of Legacy Gold
- for death or personal injury caused by Legacy Gold's negligence; or
- under section 2(3) of the Consumer Protection Act 1987; or
- for any matter in which it would be illegal for Legacy Gold to exclude or attempt to exclude its liability; or
- for fraud or fraudulent misrepresentation.
Subject to the above:
- Legacy Gold's total liability in contract, tort (including negligence or breach of statutory duty), misrepresentation, restitution or otherwise, arising in connection with the performance or contemplated performance of these Terms and Conditions shall be limited to the value of your bullion stored by the Company; and
- Legacy Gold shall not be liable to you for any pure economic loss, fall in the value of your bullion, loss of profit, loss of business, depletion of goodwill or otherwise, in each case whether direct, indirect or consequential, or any claims for consequential compensation whatsoever (howsoever caused) which arise out of or in connection with these Terms and Conditions.
You are responsible for paying such local taxes as are or may be applied on bullion purchases, bullion sales and bullion custody, and on any associated charges, and such taxes are added to charges where appropriate.
Force majeureThe Company shall not be liable to you for any delay or failure by it to perform its obligations if such delay or failure arises from any unforeseeable causes beyond its reasonable control including, but not limited to, acts of God, floods, lightning, earthquakes, labour disputes, shortages, rationing, utility failures, war, terrorism, riot, embargoes, and actions of any government agency or subdivision thereof.
LawThe law governing the provision of the Legacy Gold service to the Customer is the law of Spain and any overriding laws of the European Union.
© Legacy Gold SL. 2016
Registered in Spain: BO4836367
Registered Address: Huercal Overa 04693