Bullion Terms and Conditions 

  1. Introduction
  2. Information about us
  3. Investment Advice
  4. Orders
  5. Payment
  6. Delivery
  7. Collection
  8. Risk and title
  9. Cancellations
  10. Buy-Back
  11. Privacy
  12. General

1.1.    This Agreement contains the terms under which you may buy precious metal bars and coins from Harrods Bank Limited (“we”, ”us” or ”our”) and we may buy these items back from you.  Please read this Agreement carefully and keep a copy of it.
1.2.    This Agreement does not create any contractual relationship between you and any of our suppliers or service providers.

2.1.    We are a limited company registered in England, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
2.2.    If we are unable to meet our financial obligations, any money you transfer to us for the purpose of buying precious metal will be protected by the Financial Services Compensation Scheme to the extent that this money, together with any other money in your accounts (including your share of any joint account) falls within the relevant compensation limit. For further information about the scheme (including compensation limits and eligibility to claim) please visit www.fscs.org.uk.
2.3.    The Harrods Bank Branch (“the Branch”) is on the second floor of the Harrods Store at 87-135 Brompton Road, London SW1X 7XL.

3.1.    Precious metal markets can be volatile and the value of precious metal may go down as well as up. Therefore investments in precious metal involve a degree of risk that may make them unsuitable for certain persons.
3.2.    We are not authorised by the Financial Conduct Authority to give you investment advice about precious metal.
3.3.    Therefore the information we provide to you does not amount to any recommendation or advice about the purchase, sale or other disposition of precious metal, including (but not limited to) the appropriateness or suitability of any transaction for you, the value of precious metal as an investment or the future price of precious metal.
3.4.    Before making any investment decision, you should consider seeking advice from professional financial, tax and legal advisers. You should consider carefully the risks of investing in precious metal, taking into account your financial needs and circumstances.

4.    ORDERS
4.1.    You can place an order on our website (www.harrodsbank.co.uk) or, if the precious metal items you wish to order are available, in the Branch. 
4.2.    Each order you place constitutes an offer to buy precious metal from us at the price quoted to you. This price is valid for a limited period, which will be indicated to you.
4.3.    Before you place an order you will be asked to provide certain information and/or documentation to confirm your identity. 
4.4.    By placing an order you confirm that: 
         4.4.1.    you are an individual (and not a corporation, unincorporated association, trust or pension scheme) and legally capable of entering into binding contracts; 
         4.4.2.    you are at least 18 years old;
         4.4.3.    (if you are placing the order online) you live in the UK.
4.5.    We will accept your order only once we have received payment in cleared funds and we have issued an acknowledgement of your order to you (an “Order Confirmation”). 
4.6.    The Order Confirmation will describe the specific precious metal item(s) you ordered and indicate whether the order will be sent to you or made available for collection at the Branch.
4.7.    If we are unable to supply you with a precious metal item, for example because of an error in the price, description of the item or amount of available stock or a failure in the processing of the payment, we will tell you this by e-mail or post. If we have received payment for the item already, we will refund this to you as soon as practical.

5.1.    You may pay by cash, debit or credit card or wire transfer from a UK bank account in your name. We can accept only one method of payment per order.
5.2.    If you order online and wish to pay by debit or credit card, you must use a card that has been issued in the UK.
5.3.    If you wish to pay for your order by wire transfer, you must notify us in advance by completing the Funds Transfer Instruction form available at the Branch or on our website. Once we have verified and approved the source of the funds, we will send you our bank account details for the transfer.
5.4.    Your payment shall be deemed to have been received by us only once we have received cleared funds in UK Pound Sterling. 
5.5.    Once we have received the funds, we will send a notification to you by e-mail and you will be able to place an order up to the value of the funds. 
5.6.    You need to ensure that your payment is sufficient to cover any increase in the price of your order between the time of the transfer and the time we process your order.
5.7.    Any funds you have transferred to us that have not been used within two working days after we have sent you the notification will be returned to your bank account. Please note that you will not be paid any interest on any funds you have transferred to us for the purpose of buying precious metal.

6.1.    You can choose to have your order delivered to your residential address in the UK (or another address of yours, if agreed by us).
6.2.    Any delivery charges will be notified to you before you place your order.
6.3.    Once we have sent your order, we will send you a notification that we have done so. 
6.4.    The delivery of your order will be tracked and recorded, so you (or another person, if agreed between us) will need to provide a printed name and signature to prove the items you ordered have been received. We will not be responsible for any delivery that has been signed for at your address but not received by you. 
6.5.    If the courier asks you to prove your identity, you must show a current, valid version of one of the following: passport; driving licence; national identity photocard; firearms certificate or shotgun licence. We may also provide you with a passcode in advance, which you must provide to the courier as an additional security measure. If you do not comply with these security measures when you are required to, you will not be entitled to receive the items you ordered.
6.6.    Your order will usually be delivered within five working days after you placed it. If your order has not been delivered, you must notify us within 15 days after you placed it so that we can investigate the matter promptly. 
6.7.    In exceptional circumstances there may be a delay in delivering your order. We will notify you of any delay as soon as practical. However, we will not be responsible for any delay that is caused by an event outside our control. 
6.8.    If our courier visits your address but you are not available to receive your order, we may store it until delivery takes place and charge you for all related costs, including insurance and the cost of re-delivery. We shall also have the right to buy back the items you ordered at their current market value, less our buy-back margin (which we will notify to you on request).

7.1.    If you place your order in the Branch, you can choose to collect it immediately. 
7.2.    If you place your order online and wish to collect it from the Branch, you must choose a collection day from Monday to Saturday between two and 14 days after the date of your order. Once your order is ready for collection, we will send you a notification to confirm this. You must collect your order in person and provide your order number and a current, valid version of one of the following: passport; driving licence; national identity photocard; firearms certificate or shotgun licence.
7.3.    If you fail to collect your order on your chosen collection day, we shall have the right to buy back the items you ordered at their current market value, less our buy-back margin (which we will provide to you on request).

8.1.    You will become the owner of the items you ordered when we have received: 
          8.2.1.    the full amount of the price specified in the Order Confirmation in cash or cleared funds; and 
          8.2.2.    any identity documents and information we have requested.
8.2.    You will become legally responsible for the items you ordered (they will be 'at your risk') when you collect them or they are delivered to you.

9.1.    You may cancel any order for precious metal items sold by us at a fixed price (i.e. that are not determined by live precious metal spot prices) within 14 days without giving any reason. Otherwise, you do not have the right to cancel your order.
9.2.    If you have the right to cancel your order, you can do so by sending an e-mail to bullion@harrodsbank.co.uk or a letter to the Branch. You must return the items you ordered in their original condition, together with a copy of your Order Confirmation, to the Branch either in person or by a delivery method that requires a signature on delivery and is capable of being tracked.
9.3.    If you cancel your order, we will provide a refund to you once we have received back from you the items you ordered. You will be responsible for the cost of returning these items to us. If these items are not in the same condition in which you received them, we may reduce the refund to reflect any loss in value. We will not charge you any fee for making the refund. We will make the refund by the same method you used to pay for your order or by any other reasonable method.

10.    BUY-BACK
10.1.    If you wish to sell back to us any precious metal you have bought from us, we will make a “Buy-Back" offer and quote a price at which we are willing to buy it back. To accept our Buy-Back offer, you need to tell us this in writing. 
10.2.    You may request a Buy-Back offer at the Branch by providing to us the following: 
10.2.1.    a copy of your Order Confirmation;
10.2.2.    a current, valid version of one of the following: passport; driving licence; national identity photocard; firearms certificate or shotgun licence.
10.3.    Unless we are buying back your precious metal because it has not been collected by you or delivered to you, you are under no obligation to sell it back to us.
10.4.    If you have accepted our Buy-Back offer, you will not have the right to cancel the sale; you must sell the precious metal to us at the price we quoted and provide the precious metal back to us immediately at the Branch in person.
10.5.    If the precious metal is no longer in its unopened certi-PAMP packaging, it is likely that it will need to be authenticated; this damages the precious metal, so it is important that you accept our Buy-Back offer only if you are certain that you wish to sell the precious metal to us at the price we quoted.
10.6.     If we are unable to authenticate the precious metal to our satisfaction, we may reduce the price quoted in the Buy-Back offer accordingly. Alternatively we may refuse to buy back the precious metal, in which case we may charge you for the costs of handling and authenticating it and you must collect it from the Branch.
10.7.    Once you have received payment from us of the agreed price, the ownership of the precious metal shall pass from you to us.

11.    PRIVACY
11.1.    We will treat any information about you as strictly confidential in accordance with our privacy policy, which is available on our website, and the following terms: 
           11.1.1.    We rely on the software and systems of PAMP to process all precious metal transactions, meaning that your data will be shared with and recorded by PAMP and MKS (Switzerland) SA (PAMP’s group company), both of which are Swiss companies based outside the EEA.  The European Commission has found Switzerland to provide an adequate level of data protection from a European Union perspective.
           11.1.2.    We may use your information or pass it to other companies in the Harrods Group or carefully selected partners to process your order(s); or (once your information has been anonymised so that it does not identify you) for research and analysis; or (with your consent) to inform you about products and services we believe could be of interest to you. 
           11.1.3.    If the value of your order, or the total value of your orders over any 12-month period, exceeds £9,999, you need to supply us with proof of name and personal address as well as proof of source of wealth and source of funds. 
           11.1.4.    By law, we must retain copies of all identity documents we obtain, which may be inspected by regulators should they wish to do so. 
11.2.    You consent to us performing checks on the following records about you:
           11.2.1.    Our existing records (if available);
           11.2.2.    Those held by credit reference agencies (CRAs); and 
           11.2.3.    Those held at fraud prevention agencies.
11.3.    When we search records held by CRAs they place a ‘soft’ search footprint on your credit file for the next 12 months. This footprint can be seen only by you and will not affect your credit score or ability to obtain credit.
11.4.    Please do not send us any payment information by e-mail, as we cannot guarantee the security of any data you send us by this method.

12.    GENERAL
12.1.    We may sub-contract our obligations or transfer our rights and obligations under this Agreement to another organisation, but this will not affect your rights or our obligations under this Agreement.
12.2.    This Agreement is personal to you and you may not assign it or any part of it without our prior written consent.
12.3.    We will not be responsible to you under this Agreement if we are prevented from, or delayed in, performing our obligations by events outside our reasonable control.
12.4.    If any term of this Agreement is found by any court or regulator to be invalid, unenforceable or illegal, the other terms shall remain in force.
12.5.    We have the right to change this Agreement from time to time by giving you one month's notice.
12.6.    If you wish to make a complaint, please see our website for details of how to do so. If we cannot resolve your complaint, you may complain to the Financial Ombudsman Service (FOS).
12.7.    If we fail to insist that you perform any of your obligations under this Agreement or we do not enforce our rights (or delay in doing so), that will not mean that you do not have to comply with your obligations or that we have waived our rights. 
12.8.    The current version of this Agreement will be available on our website.
12.9.    This Agreement will be governed by the laws of England and Wales and will be concluded in English.