By using the website www.advisormetals.com or purchasing physical precious metals from Advisor Metals LLC or selling physical precious metals to Advisor Metals LLC or interacting with Advisor Metals LLC the following applies.
DO NOT CALL REGISTRY WAIVER
Customer hereby expressly authorizes ADVISOR METALS (“AM”) to telephone Customer at the number(s) provided above (and any updated or additional numbers provided by Customer in the future), regardless of whether or not the telephone numbers appear in the “National Do Not Call Registry” or any state equivalent. This authorization shall remain effective unless and until Customer informs AM otherwise.
TERMS
Advisor Metals (“AM”)) and the customer (“Customer”) agree that these Terms and Conditions shall govern all transactions, interactions, and communications between the parties involving precious metals (or any other good or service sold by AM).
- Payment; Delivery. AM will ship Customer’s purchase within twenty-eight (28) days of full payment. “Payment” is defined as the receipt of good purchase funds, which have “cleared,” as that term is understood in the financial services industry. Please note that it may take longer for personal checks to clear. If you have any questions regarding the status of your order or your projected delivery date, please contact AM. Orders will be delivered to Customer’s custodian (in the case of IRA transactions) or to the address verified on AM’s recorded confirmation line when the order is placed (for non-IRA transactions).
- Item(s) Lost in Transit. AM uses reputable, nationally recognized delivery services and requires a signature for all personal deliveries. Risk of loss passes to Customer upon delivery of the item(s) purchased to Customer’s address or, in the case of re-purchases, upon receipt by AM. In the unlikely event any item is lost in transit, Customer must notify AM immediately. In the case of purchases from AM, if the loss is verified by AM, then AM, in its sole discretion, shall, either refund to Customer the full purchase price for such lost or nonreceived item(s) or replace such item(s) with another item or items substantially similar to that purchased.
This is Customer’s sole remedy for an item lost in transit. In the case of re-purchases by AM, which are lost in transit to AM, Customer’s sole remedy is any shipping insurance applicable to the shipment.
- Disclosures.
- Holding Period. In AM’s opinion, (i) precious metals should be considered a long-term purchase; (ii) Customer should be prepared to hold any item purchased for at least a three to five year period, and preferably five to ten years; and (iii) Customer should only invest capital that can be held for at least this estimated period of time.
- Profit Potential/Risk of Loss. AM makes no guarantee or representation that Customer will make a profit at the expiration of this hold period or any other time.
- No Advice/No Fiduciary Relationship/No Retirement-Specific Recommendations. AM sells and buys precious metals. AM is not an investment or financial advisor, or retirement fiduciary. AM does not provide legal or tax advice, retirement planning or retirement specific opinions/information. No fiduciary relationship exists between the parties. Customer further acknowledges that retirement needs vary and are highly individual in nature, and that the general information provided by AM may not take into account Customer’s specific retirement or investment needs. Customer is encouraged to consult a qualified, independent investment advisor, and Customer acknowledges that Customer has had the opportunity to do so, whether or not he or she has elected to do so. Customer further acknowledges that he or she was encouraged to take as much time as he or she needed to make any purchase or sale decisions. The purchase of precious metals should be taken only after due consideration and adequate due diligence.
- Self-Directed Purchase or Sale Decisions. The decision to purchase or sell precious metals, including the amount or type to be purchased or sold, are the Customer’s decision alone and made subject to Customer’s own research, prudence, and judgment. Customer assumes the risk of all purchase or sale decisions. Customer reports, alerts, price evaluations, or other information disseminated by AM to Customer, are provided as is, without any warranty or guarantee, and are for information purposes only.
- Commissioned Sales Personnel; Opinions Only. AM’s sales representatives are commissioned salespersons i.e., their salary is based, at least in part, on the amount and profit margin of the precious metals they sell. AM’s sales representatives’ knowledge of precious metals varies. Any written or oral statements by AM, its officers, agents, sales representatives, or other representatives relating to future events or the attributes of precious metals are opinions only. They are not representations of fact.
- Market Volatility. The success of any purchase of precious metals is dependent in part upon extrinsic economic forces including supply, demand, international monetary conditions and inflation or the expectation of inflation. The impact of these forces on the values of precious metals cannot be predicted with any certainty. Customer acknowledges that the precious metals market can be volatile and that prices may rise or fall over time and that past performance is no indication or guarantee of future performance.
- No Current Income. Precious metals do not yield current income and are not a suitable for anyone seeking current income.
- No Tax Advice/Representations. AM is not a tax expert and does not provide tax advice. AM makes no representations or guarantees regarding the tax consequences of any transaction with AM. Customer is advised to seek independent tax advice from a qualified professional.
- Classification for Pricing Purposes. AM’s classification of a precious metal as bullion, semi numismatic, or numismatic for pricing purposes is based on AM’s own classification standards. Other sellers of precious metals might classify the same item differently, and AM’s classification may change over time.
- Grading Service Classifications Are Subjective and Subject to Change. When AM sells graded coins, AM does not independently assess the grade of the precious metals sold, but relies upon the assessments of independent grading services such as Professional Coin Grading Service, Inc., Numismatic Guaranty Corporation of America, and ANACAS. Grading is a subjective process and grading services, or individual examiners within the same service, may reach different conclusions regarding the appropriate grade for a particular precious metal at the same time or over time, particularly as grading standards evolve. AM does not guarantee that the graded precious metals it sells will achieve the same grades in the future.
- Quotes. Unless otherwise requested or specified, AM quotes “ask” prices (i.e., the price to purchase the precious metal from AM). If you want to liquidate your precious metals, request a “bid” quote, as bid and ask prices vary. (See Paragraph 6 for more detail on the difference between ask and bid pricing.)
- Retirement Account Disclaimer. AM expressly disclaims any responsibility or obligation for any tax impact (including early withdrawal or other penalties) to Customer as a result of Internal Revenue Code or Department of Labor or any other government or agency laws, regulations, or rulings (including the interpretation of existing law) relating to individual retirement accounts or other tax deferred retirement accounts. Customer expressly acknowledges and agrees that Customer has been advised to seek independent tax advice and that AM has made no representations regarding the tax impact of the transaction, including but not limited to the tax impact of holding precious metals in an individual retirement account.
- No Authority to Bind. No agent, employee or representative of AM has the authority to bind AM to any affirmation, representation, or warranty not set forth in this Agreement.
- Pricing.
- Sales: a. The purchase price Customer has been quoted and agreed to pay for any Precious Metals includes AM’S profit margin (or fee) on the transaction. Within the Precious Metals industry, the difference between AM’S cost for the Precious Metal, and the retail price quoted to Customer, is known as the “Spread.” Spreads vary significantly by Precious Metal, by customer, and over time. The price AM charges when it sells Precious Metals is higher than the price AM would pay, at the same moment in time, to purchase (or buyback) the same Precious Metals from a customer. The sale and buyback prices are not the same because the sale price must cover AM’S operating expenses (for example, rent, salaries, marketing expenditures) and AM’S profit. AM, by contrast, does not generally make any profit and does not generally try to recoup any operating expenses on buyback transactions; in buyback transactions, AM’s general practice (which is subject to change) is to pay Customer the price it is quoted to immediately wholesale/sell such Precious Metals (at the time the sale to AM by Customer is confirmed.) For Customer to make a profit, Customer’s Precious Metals must appreciate enough to cover this Spread (or differential). Spreads may be subject to negotiation, and any Spread charged to Customer in a specific transaction may be more or less than the Spread charged to others in similar transactions or charged to Customer in prior or future transactions. At the time this Agreement was transmitted for Customer’s signature, (i) AM’s Spread (as classified by AM) was generally no higher than fifteen percent (15%), and (ii) AM’s Spread on semi-Numismatic and Numismatic coins and bars including proof coins (as classified by AM) was generally no higher than fifteen percent (15%). These numbers, however, are only general approximations, which are subject to change. Further, AM’s classification is based on AM’s own classification standards and decision-making; other sellers may classify the same item differently for pricing purposes. The actual Spread on any particular transaction could be any amount within the referenced ranges (or even possibly outside those ranges). For example, if a coin or bar was quoted by AM at $400 and included a fifteen percent (15%) spread, AM’s cost for the coin or bar would be $360. Thus, in this example, the buyback price for the Precious Metal would need to appreciate to above $400 to make a profit. AM’s Spread range may be different (higher and/or lower), and the Spread AM charges may be higher or lower, at the time of and for any given transaction.
- No Refunds; All Sales Final.
- ALL SALES ARE FINAL (i.e., the precious metals cannot be exchanged or returned for a refund. Nevertheless, AM wants its customers to be satisfied. If you are dissatisfied with your purchase in any way (e.g., the condition/appearance of a coin), AM encourages you to contact your sales representative to discuss the matter.
- Limited Exception for Counterfeit Coins. AM sources its precious metals from reputable suppliers. Nevertheless, if you believe an item purchased from AM is counterfeit, please contact AM immediately and in no event later than ninety (90) days from your purchase. Claims made after ninety (90) days will be rejected. Claims as to coins for which the tamper resistant encasement has been opened or tampered with will also be rejected. If AM determines that your item is counterfeit, AM shall, in its sole discretion, either refund Customer’s purchase price for the item or replace the coin(s) in question with substantially similar coins. This is Customer’s sole remedy in the (unlikely) event a counterfeit coin is received.
- DISCLAIMER Of EXPRESS AND IMPLIED WARRANTIES. Except for representations made in writing or on the recorded confirmation at the time of sale regarding the type, quantity, genuineness, metal content, and professional grading service classification (if applicable) of the precious metals purchased from AM, THE PRECIOUS METALS SOLD BY AM PURSUANT TO THIS AGREEMENT ARE SOLD ON AN “AS IS” BASIS AND AM MAKES NO WARRANTIES, EXPRESS OR IMPLIED, AND SPECIFICALLY DISCLAIMS ANY WARRANTY Of MERCHANTABILITY AND OR FITNESS FOR A PARTICULAR PURPOSE.
- DISCLAIMER OFf DAMAGES. IN NO EVENT, AND UNDER NO LEGAL THEORY, CONTRACT, TORT, OR OTHERWISE, SHALL AM, ITS PRINCIPALS, AGENTS, REPRESENTATIVES, SUBSIDIARIES OR AFFILIATES BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER, INCLUDING BUT NOT LIMITED TO DAMAGES RESULTING FROM LOSS OF PROFITS, WAGES OR BUSINESS, EVEN IF AM IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. FURTHER, AM’S LIABILITY TO CUSTOMER FOR ANY REASON AND UPON ANY CLAIMS SHALL AT ALL TIMES BE LIMITED TO THE AMOUNT ACTUALLY PAID BY CUSTOMER FOR THE PRECIOUS METALS IN DISPUTE.
- Force Majeure: AM and Customer shall not be liable for any failure or delay in its or their performance under this Agreement due to any cause beyond its or their respective reasonable control, including acts of war, terrorism, acts of God, earthquake, flood, embargo, riot, sabotage, labor shortage or dispute, governmental act (e.g., exchange or market ruling) or failure of the Internet including, but not limited to, any disruption, failure and/or error in or of AM’s internal computer systems, or any disruption, failure and/or error in or of any thirdparty Internet service providers as AM may use from time to time.
- Remedy for Customer’s Breach of this Agreement. In the event that Customer refuses to accept delivery of the purchased item(s) or fails to make payment when due, AM shall be entitled to recover from Customer a five percent (5%) restocking fee, and the difference in any market (ask to ask) price fluctuations.
- Future Transactions. This Agreement shall control all transactions and future interactions and communications between AM and Customer unless and until such time as it is amended by AM. Customer agrees that AM may amend this Agreement at any time and from time to time, that AM may give notice to Customer of any amendment by mailing a copy of the amended Agreement to the address set forth above (or any updated address provided by Customer in the interim), and that following such mailing, the amended Agreement shall govern succeeding transactions and interactions and communications between AM and Customer.
- Finality of this Writing. This Agreement is intended by the parties as a final expression of their agreement concerning the matters contained herein, and as a complete and exclusive statement of the terms of their agreement. This Agreement supersedes any oral or written statement prior to or contemporaneous with the
execution of this Agreement. Customer shall not rely on any statement by or on behalf of AM which is inconsistent with this Agreement.
- Form of Execution. This Agreement may be signed by hand or electronically, and an electronic, facsimile, pdf, or other copy of said signature shall be deemed a valid signature for all purposes as if it were an original wet ink signature.
- DISPUTE RESOLUTION Procedure; Arbitration of DISPUTES; CLASS Action Waiver. This Agreement contains a binding, individual arbitration agreement and class waiver. This means that any claim must be arbitrated on an individual basis pursuant to the terms set forth below. Claims of different persons cannot be combined in the same proceeding. Also, both Customer and AM are waiving the right to
file a lawsuit in Court and to have a jury decide the dispute. PLEASE read THIS SECTION carefully.
- PRE-DISPUTE Notice. Prior to initiating arbitration, any party hereto asserting a Dispute (defined in Paragraph 15(b) below), shall send a written statement to the other party describing with reasonable particularity the Dispute and the relief requested (the “Demand”). The parties shall attempt in good faith to resolve any such Dispute promptly via direct negotiation (between the parties and retained counsel, if any) over a period of fifteen (15) days.
- Pre-Arbitration Mediation. lf the direct negotiations specified in Paragraph 15(a) fail, and the Demand seeks relief in connection with a transaction with a purchase price equal to or in excess of $200,000, prior to initiating arbitration, the parties shall conduct a one day mediation regarding the Dispute. If the Demand seeks relief in connection with a transaction with a purchase price less than $200,000, the parties shall not be obligated to mediate pursuant to this Paragraph prior to any party initiating arbitration. If a mediation is required, the parties shall mutually agree on a mediator associated with JAMS to conduct the mediation in Altadena California. If the parties are not able to mutually agree on a mediator within twenty-five
(25) days of service of the Demand, then either party (or the parties jointly) may request the appointment of a mediator, and JAMS shall appoint a retired judge to serve as the parties’ mediator. The cost of the mediator, including any administrative fee, for a one-day mediation shall be borne by the Company.
- EXHAUSTION of REMEDIES. If and only when the pre-dispute process specified in Paragraphs 15(a) and (b), as applicable, is exhausted without resolution of the Dispute, may the purportedly aggrieved party proceed to file a demand for arbitration.
- Arbitration. ANY DISPUTE, CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE BREACH, TERMINATION, ENFORCEMENT, INTERPRETATION OR VALIDITY THEREOF, INCLUDING THE DETERMINATION OF THE SCOPE OR APPLICABILITY OF THIS AGREEMENT TO ARBITRATE, OR ANY OTHER DISPUTE, CLAIM OR CONTROVERSY ARISING OUT OF ANY INTERACTION OR COMMUNICATION BETWEEN PG AND CUSTOMER (“DISPUTE), SHALL BE BROUGHT AND
BE DETERMINED BY FINAL, BINDING ARBITRATION IN ALTADENA,CALIFORNIA, BEFORE ONE
ARBITRATOR. Notwithstanding the immediately preceding sentence, if the JAMS Rules or any applicable JAMS Minimum Standards require it, or the Arbitrator concludes that it would be a financial or other hardship for Customer to participate in an arbitration in Austin, the Arbitrator has the authority to hold the hearing, or any part thereof, in the county where Customer lives or to permit Customer to attend via videoconference, Skype, Facetime, telephonic or similar virtual participation.
THE ARBITRATION SHALL BE ADMINISTERED BY JAMS PURSUANT TO ITS
ARBITRATION RULES. These rules may be found at https://www.jamsadr.com/adr-rules-procedures/. If the arbitration proceeds in Customer’s county of residence (instead of Altadena, California), and there are no JAMS arbitrators or an insufficient number of JAMS arbitrators in the jurisdiction (or another jurisdiction willing to serve in such location), and the parties are unable to agree on an arbitrator themselves, then a different arbitral association shall be selected by JAMS to conduct the arbitration.
CUSTOMER AND AM WAIVE THEIR RIGHTS, IF ANY, TO BRING ANY CLAIM THAT IS SUBJECT TO THIS ARBITRATION PROVISION AS A CLASS ACTION OR OTHERWISE ON A REPRESENTATIVE BASIS. JUDGMENT ON ANY AWARD MAY BE ENTERED IN ANY COURT HAVING JURISDICTION. THIS CLAUSE SHALL NOT PRECLUDE PARTIES FROM SEEKING PROVISIONAL REMEDIES IN AID OF ARBITRATION FROM A COURT OF APPROPRIATE
JURISDICTION. In the event this provision is held unenforceable and the matter is permitted to proceed in Arbitration as a class or representative action, then the entirety of this Paragraph 15 (including all subparts) shall be void and of no further effect, and either Party may proceed to pursue the action in court.
- Confidentiality. The parties shall maintain the confidential nature of the arbitration proceeding and the award, including the hearing, except as may be necessary to prepare for or conduct the arbitration hearing, to move a Court for a preliminary remedy, to confirm or enforce the award, or as otherwise required by law or judicial decision. The parties agree that breach of this confidentiality provision would irreparably harm the non-breaching party, and further agree that any such breach shall entitle the non-breaching party to seek injunctive relief and/or compensatory damages for the breach (without the necessity of posting a bond).
- Choice of Law. Customer acknowledges and agrees that this Agreement is made and entered into in Altadena, California. The internal, substantive law of California shall govern all claims between the parties in connection with this Agreement or otherwise arising out of any interaction or communications between AM and Customer (i.e.,California conflict of law principles will not apply).
- Prevailing Parties. In the event of any Dispute, and whether such Dispute is resolved via arbitration, litigation or otherwise, the prevailing party (as that term is commonly defined by the prevailing common and/or statutory law in the applicable jurisdiction) shall be entitled to recover its costs of suit and reasonable attorneys’ fees. In the event a party moves to compel arbitration and prevails, such party shall be entitled to recover, immediately, the costs and reasonable attorneys’ fees incurred in so moving.
- Limitation on Time to Bring Any Claim. Except where the law prescribes a shorter applicable statute of limitation, or prohibits shortening the otherwise applicable longer statute of limitations, any claim of any kind between the parties related to a transaction, interaction, or communication (including any purported breach of this Agreement) must be brought within one (1) year after the purchase or sale or other event giving rise to the claim. If this clause is determined to be unenforceable as to any particular claim or claims under the law of the applicable jurisdiction, it shall remain fully enforceable as to all other claims.
- Jurisdiction. Jurisdiction and venue for any claim or Dispute shall be in Altadena ,California and any party making a claim against AM in whatever form hereby submits to personal jurisdiction in that forum.
THIS CONTAINS A BINDING, INDIVIDUAL ARBITRATION PROVISION.