Introduction
The two parties (Seller or service provider "First Party" & The Customer "Second Party") agree to the terms and conditions under which all transactions regarding investments in precious metals (Gold, Silver, Platinum, & Palladium) will be conducted.
The parties have agreed to the following:
Definitions:
Bullion refers to precious metal bars and coins (gold, silver, platinum, and palladium) designated for trading through their sale or purchase in units of ounces, kilograms, and/or ten tolas. These metals are considered high-quality precious metals, unless stated otherwise by the company, and comply with the minimum purity requirements of international standards such as the Dubai Good Delivery (DGD) and London Good Delivery (LGD) standards. Bullion type determination and distribution shall be made only upon the client's request for physical delivery via investment platforms through a bullion account approved by the company. Upon request for physical delivery, the bullion type, location of delivery, shipping fees, and physical redemption fees shall be agreed upon by both parties. All trades and transactions of precious metals are subject to the laws and regulations of Sudan, including those applicable to the delivery location.
All bullion designated for distribution is subject to the laws and regulations of the delivery location. Any risks arising from the delivery process will be the responsibility of the client or their representative, whether positive or negative.
Bullion Accounts:
The client may trade in any of the precious metals via investment platforms through the following approved accounts:
Regular Bullion Account: A trading account where the client can invest and purchase precious metals from the company. The client must deposit the full price of their commodity (purchases).
Special Bullion Account: A trading account where the client can fix a precious metal’s price via Dahab’s investment platforms by depositing a specific percentage, agreed upon by both parties, of the transaction’s total value. The client must complete the remaining balance within a specified timeframe agreed upon by both parties. A reasonable financial penalty will be applied if the client fails to cover the remaining balance within the agreed timeframe.
Bullion Trade Value Calculation:
Bullion trade value shall be calculated using the formula (bullion quantity in ounces, kilograms, or ten tolas * the unit price pre-determined in the sale agreement), while the market value of any bullion trading contract is always equal to (bullion quantity in ounces, kilograms, or ten tolas * the current market value in USD).
Terms and Conditions of Bullion Investment Agreement:
This agreement is subject to all terms and conditions mentioned below, including the attached schedule, which forms an integral part of this agreement:
All transactions agreed upon by both parties are subject to physical redemption fees and shipping charges (if the client applies for physical delivery), as well as online transaction fees and margin requirements.
Dahab shall notify the client at least three working days in advance if it intends to change limit orders and/or prices.
In case any payment is due by either party, the binding party must pay the due amount on the specified due date.
Dahab may close the client’s positions or liquidate their account if certain conditions arise, such as bankruptcy, failure to maintain the margin level, or non-payment of dues.
In the event of liquidation, Dahab will inform the client within one working day. If Dahab cannot inform the client, the liquidation will proceed without stopping, and the company will have no liability towards the client.
If bullion cannot be delivered due to legal reasons, taxes, or other circumstances, the two parties may agree to liquidate all affected deals, and the net income will be paid after completing the liquidation process.
In case of cash liquidation due to the inability to arrange physical delivery, the settlement will be calculated by the difference between market value and trading value, excluding fees.
Dahab will send account statements or notices to the client’s email or fax, and it will be considered received by the client on the same date of dispatch.
All payments to Dahab’s bank accounts in Sudan must be in USD, Euro, or AED (or any equivalent local currency).
Special Considerations and Limitations:
The client must inform Dahab and provide the necessary documents to prove payment in Dahab's approved accounts. Special cases where the client may not claim compensation for any losses, damages, or costs are also covered. The client is responsible for providing accurate details and maintaining up-to-date information in the KYC form.
Dispute Resolution:
In case of a dispute between the parties, the issue will be discussed and settled amicably within one week. If no settlement is reached, an arbitrator will be appointed, and if further settlement fails, the dispute will be referred to arbitration in Sudan.
Risk Disclosure:
Trading in precious metals carries significant risks. Clients should be aware of potential issues such as technical failures, communication problems, and account security risks. Dahab recommends the client be cautious with their account credentials and account settlement records.