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Terms of Service

ADVANCE PAYMENT RECEIPT

  • Verification of Pledge Information: Prime Gold Hub reserves the right to verify the pledge details submitted by the customer. If any information is found to be false or misleading, Prime Gold Hub may take necessary actions, including reporting to relevant government authorities.
  • Pledge Gold Release: If the value of pledged gold items is less than the advance payment made, the Seller must immediately pay the difference to Prime Gold Hub.
  • Seller’s Withdrawal: If the Seller decides not to proceed with the sale after release from the pledge financier or fails to release the pledged gold, they must reimburse the full advance amount.
  • Default on Reimbursement: Failure to refund the advance will result in Prime Gold Hub treating the transaction as a sale and taking possession of the gold items.
  • Legal Action for Bounced Cheques: If a security cheque is dishonoured, Prime Gold Hub will initiate legal proceedings under the Negotiable Instruments Act and other applicable laws.
  • Dispute Resolution: All disputes shall be resolved through binding arbitration in Hyderabad, Telangana.

APPLICATION FORM

  • Ownership & Authority: Prime Gold Hub only accepts gold items owned solely by the Seller, acquired legally (purchase, gift, or inheritance).
  • No Returns: Sold gold items will not be returned under any circumstances. Payment will be made in INR to the Seller’s bank account.
  • Right to Reject: Prime Gold Hub may accept or reject any sale application without explanation.
  • Absolute Rights: Upon purchase, Prime Gold Hub gains full ownership rights to sell, transfer, or melt the gold.
  • Illegal Use of Proceeds: The Seller is solely responsible if sales proceeds are used for unlawful activities.
  • Stolen/Spurious Gold: If sold gold is found stolen or fake, the Seller bears all legal/financial liabilities, including repayment with interest.
  • Verification Rights: Prime Gold Hub may verify pledge details and report discrepancies to authorities.
  • Purity & Weight:
    • Purity is checked via XRF technology; results may vary based on methodology.
    • No liability for purity/weight loss after melting.
    • Seller must cover any losses or transaction charges.
  • Testing Methods: Additional tests (acid, salt, etc.) may be conducted to confirm purity.
  • Non-Gold Materials: Weight deductions apply for non-gold components.
  • Ownership Verification: Physical/telephonic verification may be conducted.
  • Pricing: Valuation is based on the 24-carat market rate on the transaction day.
  • Biometric Data: Collected for records and kept confidential.
  • Minors (Below 21): Must be accompanied by a legal guardian, who shares liability.
  • Cancellation Fee: Up to 5% of valuation if the Seller backs out post-melting.
  • Dispute Resolution: Arbitration in Hyderabad, Telangana.

ESTIMATION COPY

  • Post-Melting Liability: Prime Gold Hub is not responsible for weight/purity loss after melting.
  • Rejected Gold: If gold is rejected (by either party), the melted form will be returned. The Seller cannot claim the original form and must refund any advance.
  • Price Validity: Quoted rates are valid only on the transaction date.
  • Deductions: Includes processing, documentation, and other charges.
  • Dispute Resolution: Arbitration in Hyderabad, Telangana.

PAYMENT VOUCHER

  • Legal Ownership: The Seller declares sole ownership and authority to sell the gold.
  • Reporting Suspicious Activity: Prime Gold Hub will alert authorities if gold is suspected stolen or counterfeit.
  • No Returns: Sold items cannot be reclaimed.
  • Deductions: Includes processing and documentation fees.
  • Dispute Resolution: Arbitration in Hyderabad, Telangana.