Terms and Conditions
Terms of Use
Terms of Use: These terms of use (the ‘Agreement’) are applicable to the: (i) Metfolio Platform (ii) agreements and (iii) services and products provided by Metfolio through the application and platform. The services included are fulfilled by us. These services are made available by us based on the terms and conditions stated below.
Agreement: By using the Metfolio Platform and its services, you have indicated your consent to be bound by the terms of this agreement. If you do not agree, you must not use the Metfolio application and should immediately suspend your use of its services.
Legal: By using the Metfolio Platform and its services, you have confirmed that you are: (i) Responsible and eligible to enter a contract. Failure of these conditions will result in Metfolio restricting access to the Platform and its services.
Use of Services: The services are to be used for your personal use only. By using the platform and services you recognise and agree that:
It is forbidden to use, reproduce, present, amend, sell, publish, and distribute the services without our preceding authorisation.
You shall not use the services for any illegal or unsanctioned means.
You will use the services with your own judgement and account.
The services being available to you does not indicate advise to fulfil an action nor does it state that the product is suited for you. You should not fulfil any action on the platform unless you fully understand the implications of the action.
Emails and Notifications: If you no longer wish to receive emails or notifications from Metfolio, you can select the notifications you wish to receive within the application and unsubscribe from emails and notifications from the app itself.
Intellectual Property: We reserve all rights of intellectual and commercial property of Metfolio (Logos, Patents, trademarks, copyrights, designs, trade secrets, symbols, copy, marketing material and intelligence, in all forms regardless of registration) regarding the services. Any third-party intellectual property used by us in the application or website should not be interpreted that the third party is linked or affiliated with Metfolio.
Feedback: If you send feedback to us through our designated channels to communicate how our platform has worked for you, we reserve the right to use that feedback to improve our processes and infrastructure. You do not hold any rights to any intellectual property to any modification, adjustment or improvement based on this feedback.
Disclaimer and Liability: We are not liable in any form for loss and damage experienced by you using our platform and services. Regarding the services, we do not guarantee their accuracy or completeness. Upon noticing information on the platform or website which is incorrect, you shouldn’t act on this information, but instead contact us to notify us about that information. For more information, please see under the ‘Liabilities’ section.
Modification: The information on the Metfolio application or website can be changed, and often without any notice. The terms and conditions can be modified at any point by us. We will provide notice of these changes by publishing revised terms and conditions on the website. These changes will not be notified to you separately.
Other: By approving this agreement and using the platform, you agree that we reserve the rights to records all telephone conversations, internet conversations, chats and any correspondence between you and us. If any part of these terms is declared invalid or cannot be enforced under the law, these parts will be removed or modified in a way which keeps the rest of the terms valid and enforceable.
Consequences: We reserve the right to terminate your use of the Metfolio platform if we conclude at our sole discretion that you have breached the terms and conditions.
Defined Terms
Sporadic Purchase – means the purchase of gold outright on a ‘one off’ basis on the Metfolio App, not connected to any goal or monthly recurring payment.
Conditions – means the terms and conditions within this document, as well as any policies referenced.
Custodian – means Metfolio limited whilst the gold is being managed by us, whether it is vaulted or part of an ongoing goal. Once the gold is delivered, the custodian refers to you, the customer, given that the gold is in your ‘custody’.
Metfolio – or ‘we’, ‘our’, ‘us’ means Metfolio limited, our details are laid out on our website.
Metfolio Account – means the unique account you have with us. Your Metfolio account will hold your personal details, information about your ongoing goals, transactions, and deliveries, both pending, cancelled and completed. The account will be linked to your nominated bank account and verified with your identity.
Metfolio Goals – means the product offered by Metfolio limited which allows customers to build towards a Metfolio 50gm or 100gm Gold LBMA Approved 24ct Bar, monthly, with the option to take delivery, sell or vault the bar once they reach their target.
Active Goals – means ongoing goals where customers are paying monthly to accumulate physical gold.
Paused Goals – means a goal which has been paused by the customer, that can be resumed at the customer’s wish.
Accumulated gold – means gold accumulated from Metfolio goals or through sporadic purchases.
Cancelled Goals – means a goal which has been cancelled and cannot be restarted.
Nominated Goal payment date - means the date which the customer chooses for their recurring payment to be sent once per month, for the purchase of gold into the goal.
Metfolio Vaulting – means the service offered by Metfolio, offering free services to customers to vault the gold which they have purchased on the platform.
Nominated Bank Account – means the customer’s bank account where the agreed funds will be deposited when the customer sells gold on the Metfolio platform.
Nominated Payment Method – means the customers payment method (debit or credit) used to fulfil purchases made on the Metfolio platform for gold.
Services – means the platform, services, and products which Metfolio offers customers, more details under ‘Our services’.
Product – means the services and products which Metfolio offers the customer, more details under ‘Our products’.
Agreement – means any agreement between Metfolio and the customer in relation to the products and services Metfolio offers.
Customer – ‘you’ means any person, entity, or corporation who purchases, sells gold, has gold delivered and or utilises vaulting services in any form within the Metfolio platform.
Customer Address – means the UK address nominated by the customer to sign up to the platform, deliver, sell and or purchase gold. Which is verified by Metfolio.
Gold – means physical gold that is 24ct in purity and LBMA authorized. Portfolio – means the section within the Metfolio Platform that displays total gold holdings to the customer, a section that houses and provides navigation to both the ‘physical gold’ and ‘goals’ sections.
Gold Holdings – means the gold held by Metfolio in the measurement’s grams, troy ounces, kilograms, on the behalf of the customer.
Physical gold – means the section within the app that displays the total amount of gold which has been purchased, excluding active goals.
Delivery – means the customer’s action of having gold delivered from their portfolio, ‘physical gold’ or ‘goals’ sections, to their nominated customer address.
Gold Buying Price – means the retail rate of gold set by Metfolio, that the customer will pay to purchase gold on the platform.
Gold Selling Price – means the price which Metfolio will pay to buy gold from the customer, should they wish to sell it.
Purchase – means the purchase of gold by the customer on the platform in any form. Date of Purchase – means the day which the purchase was made by the customer.
Sale – means the sale of gold which was actioned by the customer on the Metfolio platform.
Security Details – means the customer ID, phone number or password or other security information required by the customer to use any Metfolio product or enter the platform.
Platform – means the Metfolio application, or any API (Application Programming Interface) linked to the Metfolio application which combined, allow the customer to sign into their Metfolio account to view and manage their gold holdings, goals, deliveries, vault, sales, and sporadic purchases.
Gold Spot Price – means the UK live market rate of gold.
Designated Bar – means the designated 50gm LBMA approved gold bar, which can be delivered upon request.
Depreciation – means the reduction of the overall value of customer’s gold because of a reduction in the Gold Spot Price.
Metfolio Account
The Metfolio account is for personal use only, limited to customers whose personal details and verification which are on the platform.
The Metfolio account will require a valid UK address, Verification (more in section 5) and relevant personal details requested within the application and platform, failure to provide these details will lead to inability to use the services offered by us.
(N.B. The login as ‘guest’ feature on the platform does not enable the customer to use the services, but to just navigate the user interface of the platform. )
We reserve the right to disable your Metfolio account, however in the case where we need to disable the account, we will provide you with notice and settle any balance concerned.
You reserve the right to opt-in to push notifications and marketing content within the Metfolio Account, as well as notifications for the volatility of the Gold Spot price.
We reserve the right to disapprove or cancel any Metfolio customer account at any point, if we recognise that you have failed to obey this agreement.
Upon registration of the Account, you will be requested to nominate a username and password which can be amended at your or our discretion. The responsibility of protecting the secrecy of your username and password is only yours. These details must be not disclosed to any third party, under no circumstances. In the event you are uncertain or certain of these details being compromised, i.e., they become known to a third party, you will notify us immediately.
By creating a Metfolio account you accept to receive emails and texts to verify the account before its use.
Purchasing Gold
By purchasing gold on the Metfolio Platform, either sporadically or through Metfolio Goals, you acknowledge the degree of risk which is involved. As Gold markets are volatile meaning that the value of your holdings on the platform may go down as well as up. These risks make the purchase of gold not suitable for certain individuals. Therefore, the responsibility lies on you and the expert advice you seek to deem whether the purchase of gold is suitable for yourself before purchasing any gold on the Metfolio Platform.
We reserve the right to refuse a purchase without justification and without liability for any loss experienced by you or any party concerned.
When making a purchase, you must use your own judgement and intelligence. Metfolio doesn’t offer advice to act in any way regarding the purchase of gold.
Once a purchase has been fulfilled, given the volatile nature of gold, it cannot be amended, cancelled nor is it subject to refund.
All the gold bought by you on Metfolio is entirely owned by you, Metfolio acts simply as a custodian of the gold.
Gold Bullion markets are unregulated worldwide. We offer no insight or speculation into the future of any purchases that you fulfil through the Metfolio platform.
Metfolio will not fulfil any purchase on the Metfolio Platform unless a nominated payment method is connected and is verified as yours.
If Metfolio suspects you of fraud upon a purchase, e.g., the nominated payment method does not match the personal details. Metfolio retains the right to cancel any purchase actioned by you and disable your Customer Account.
Delivery
The customer can action a delivery from either their ‘goal’ or ‘vault’ section of the portfolio within the platform. Delivery will be offered by Metfolio at no extra cost to the customer the first time it is requested. The customer will receive details of delivery by email (tracking number). Delivery will be made in the form of the designated Metfolio 24ct 50gm LBMA approved bar.
Metfolio will work with third party delivery carriers to fulfil delivery, so the dates of delivery will be decided by the delivery carrier and not Metfolio. Meaning that Metfolio takes no liability on delayed delivery, nor does it give any commitment on timeline of delivery.
Metfolio’s responsibility for the delivered gold ends once it has been given to the nominated delivery carrier. The responsibility will then be passed onto you making it so that Metfolio assumes no liability for any losses, damages or third-party negligence which occurs beyond this point.
The decision to choose the delivery carrier who delivers your gold is only Metfolio’s, you will have no input in who delivers your gold and Metfolio can change the carrier without notice, without any liability for losses incurred.
For a delivery to be actioned, the customer’s address for delivery must match the billing address of their nominated payment method and the address details within their Metfolio Account personal details. Without this, Metfolio will refuse delivery of your gold outright.
Metfolio will only deliver your gold in the UK.
The responsibility of collecting the gold upon delivery or appointing a trusted individual is yours entirely. Meaning Metfolio will assume that anyone who is available at your verified address is a trusted individual to assume delivery of the gold. Metfolio takes no liability for the security and safety at your verified address.
If the customer states that the delivery parcel in which the gold is packaged has been tampered with, then the customer must make appropriate records of this and contact Metfolio.
If the customer is absent and or unavailable to take delivery of their gold, the gold is returned to Metfolio. Metfolio assumes no liability if you or an individual at your verified address is unavailable to take delivery of your gold.
Metfolio Goals
Metfolio Goals is not a contract, it is a recurring, ongoing purchase of gold once per month
The minimum monthly payment for a Metfolio Goal is £1. You reserve the right to change this amount provided it is above the minimum monthly payment. Metfolio will not be liable if your monthly payment amount is incorrect, it is only your responsibility to ensure its accuracy.
Metfolio is not liable for any depreciation experienced on the gold purchased through ‘Metfolio Goals’.
Metfolio reserves the right to cancel or pause your ongoing goal, however in the event we do cancel your goal, we will offer an explanation.
No notice is required to cancel or pause an active goal.
In the event a payment method is added to your account by you while a goal is ongoing, Metfolio will assume that the payment method used to set up the goal is the nominated payment method for that particular goal. Metfolio is not liable for any losses or inconvenience incurred because of this.
Vaulting
‘Vaulting’ refers to the service Metfolio offers which vaults your gold on your behalf, subject to this agreement.
By using our vaulting services, you accept that Metfolio is not liable for any losses incurred.
Vaulting gold with Metfolio is free of charge, with your gold being stored in insured and independently audited vaults.
You reserve the right to have your gold delivered from Metfolio directly from the platform in increments of 50g Metfolio Gold Bars. Please note that you cannot send the gold back into the Metfolio vault once delivered.
Selling Gold
In the Metfolio platform you can sell gold both through the 'physical gold’ and ‘goals sections. By selling your gold on the Metfolio platform you agree to the following terms.
The monetary value of your decided sell amount will be deposited into your connected bank account.
The sale value of your gold will be at the Metfolio selling price, which is at the live spot gold price.
The money from your sale will take up to 3 working days to arrive in your bank account, if this is delayed, Metfolio takes no liability for any losses incurred.
The selling value of your gold will be fixed on the moment you confirm the sale of your gold, this will not change and is secured.
Once you sanction the sale of your gold through the platform, you no longer have any ownership over the gold which you sold.
Metfolio is either selling the gold on your behalf or purchasing the gold from you, Metfolio will reserve the right to choose who purchases your gold or where it is sold when you decide to sell it.
You will not be able to buy back the amount of gold you sold to Metfolio at the selling price, but instead at the retail buying price set by Metfolio.
You will not be able to sell the gold bars which you have had delivered from Metfolio, back to Metfolio. Metfolio takes no liability for any losses incurred when you sell Metfolio provided bars after delivery.
Data Protection
For you to use our services, we will require your personal details: (i) Email Address, (ii) Phone number, (iii) Date of Birth, (iv) Payment Details, and (v) Residential Address.
You agree that it is your responsibility to keep these details accurate and updated, and Metfolio assumes no liability for any losses if these details are incorrect.
Metfolio will abide fully under the data protection policies and GDPR in its dealings, as will you.
Our Liability
This agreement outlines, in many areas, events for which we assume no liability. You are advised to read the terms and conditions closely to understand exactly the circumstances in which we accept no liability.
We will only be liable to you regarding a service that we offer or this agreement, in the following situations, particularly where:
This agreement fails to exclude or limit our liability
We have shown neglect or intention to breach our obligations under this agreement.)
You agree that we will under no circumstances be liable for any depreciation or volatility of the value of your holdings, or your Metfolio gold bar once it has been delivered to you. Neither will we be responsible for any damage, theft, or misuse of your Metfolio gold bar after it has been delivered to you.
We are not liable for any depreciation or failure to provide services, due to an event outside of our reasonable control, including unavailability of our services caused by disruption in the royal mail delivery infrastructure.
You are responsible for payment of all appropriate taxes. We are not liable for any issues that arise from any taxes imposed on you because of your use of our services, or for any changes in tax rates.
Nothing in this agreement limits or excludes our liability for:
death or personal injury caused by our negligence.
Fraud on our part.
You agree that, by using the Metfolio platform and services, you protect us against any losses and depreciation arising from any claim against us when we act on your instructions.
Waiver
Any waiver as to any of the terms or conditions of this Agreement in one instance shall not operate as a waiver of the same terms and conditions or prevent enforcement of any of the terms and conditions hereof in any other instance.
Personal Contract
This agreement is a personal contract between us and you. You cannot allocate any of your rights and transfer your obligations to this agreement to a third party.
Agreement
This Agreement establishes the agreement between you and Metfolio with respect to its contents, all applicable by law.
Inadequacy of the Agreement
If any section of this agreement is seen as invalid or inadequate by a court or body of administration, the section concerned will be modified or deleted accordingly so that the agreement becomes adequate and enforceable. If it is the case that the agreement cannot be amended, the concerned section will not be regarded as part of the agreement. Leaving the adequacy and enforceability of this agreement intact.
Disagreement Rectification
Courts of England and Wales hold jurisdiction and power over the rectification of disputes and disagreements regarding this agreement.
Governing Law
This agreement is governed by English Law
