Buying & Selling Bullion Procedures

Please note the following procedures do not apply to clients of The Perth Mint’s Certificate (PMCP), Depository (PMDS) and Gold-quoted (PMG) programs.

Customer Buying Procedure:

TERMS & CONDITIONS for the purchase of physical bullion, via website, telephone or in person for delivery. Purchases can be made over the counter, by telephone 1300 201 112 (International + 61 8 9421 7218), or online at www.perthmintbullion.com. The Perth Mint reserves the sole right to make changes to these terms and conditions at any time, and encourages you to review them periodically. Please note the following terms and conditions do not apply to customers of The Perth Mint Certificate Program (PMCP), Perth Mint Depository Program (PMDP), Perth Mint Depository Online (PMDOL) and Perth Mint Gold (PMG) the ASX gold-quoted product.

EFFECTIVE SEPTEMBER 2015

  1. Metal Purchase. Precious metal is purchased on the customer’s behalf and the metal price fixed at the time a customer order is placed either online via the website, via telephone, over-the-counter at The Perth Mint, or by pressing the final ‘Submit Order’ button in the checkout within the website www.perthmintbullion.com.
  2. Binding Contract. A binding contract to purchase exists once the customer agrees the price and places the buy order - either verbally by telephone, in person, or online via the ‘I accept the Terms and Conditions’ check box and the ‘Submit Order’ button.  At this time, the customer assumes all price exposure risk on the goods. A copy of the completed Order & Contract Confirmation is immediately emailed or faxed to the customer. When placing telephone orders, customers are asked to sign and return this document within one hour to verify receipt. The contract to purchase is legally binding notwithstanding the non-return of this document.   
  3. Payment. Full payment in the specified currency is due within 2 business days of placing an order. When an order is placed the metal price is then locked in and fixed, and payment is expected by The Perth Mint within 2 business days of placement of the order. In addition such funds need to be cleared subject to the clearance period applicable to the corresponding payment methods listed in 4 below. Non-payment of any order will result in cancellation of the contract and recovery of all costs from the customer – see ‘Contract Completion Guarantee’ clause below. Orders of AUD100,000 or more cannot be placed on this website and must be transacted in person or by telephone. In these cases, a 10% deposit in cleared funds must be received prior to placing an order which fixes the metal price. For orders of AUD2,000,000 or more full payment in cleared funds must be received prior to placing an order which fixes the metal price. Funds in payment must originate from the verified customer’s bank account which displays the same name as that in which the Perth Mint bullion account was opened. For the avoidance of doubt no delivery of physical bullion will be made until full payment is received from the customer into The Perth Mint’s nominated bank account as cleared funds.
  4. Payment Methods: 
  5. a) Telegraphic Transfer (TT), Wire Transfer – clearance period 2 working days. 
    b) BPay (Australia only) – clearance period 2 working days - Biller Code: 24554. Your Reference Number will be quoted on your contract.
    c) Direct Bank Account Deposit - clearance period 7 working days.
    d) Credit Card - for orders of bullion products made on the telephone for less than AUD5000. Payments will be debited from your credit card within 24  hours of receipt of order. The credit card must be current and in the name of the customer. Credit card transaction fees apply as follows: Visa/MasterCard 1.61%, AMEX Card 2.75%.
    e) Cheque/Money Order/Bank Cheque - clearance period 7 working days – Australia Only.
    f) Real Time Gross Settlement (RTGS) – clearance is immediate. RTGS is only accepted on orders over the counter. Any bank fees associated with payments are to be borne by the customer.

    Under no circumstances can debit cards be used as a Payment Method for phone and online transactions.

    Payment Notes:
    a) All cheque types maximum value accepted AUD10,000, in Australian Dollars only.
    b) The Sales Order number must be quoted as a reference when transferring or depositing funds so we can identify your payment and ensure that your funds are allocated correctly.
    c) The Perth Mint is not liable for any delays in receipt of customer’s funds into its bank account or lack of notification thereof.
     

  6. Customer Identification. Under The Australian Anti-Money Laundering and Counter-Terrorism Financing Act 2006, The Perth Mint is required to be able to appropriately identify customers buying bullion products for orders valued at AUD 5,000 or more. All customer transactions for the sale of bullion products, either over the counter, over the phone or online, may result in a request to provide appropriate identification (ID) documents prior to the commencement of trade. Individual customers wishing to place orders on The Perth Mint Bullion website - www.perthmintbullion.com, for AUD 5,000 or more, must provide appropriate certified / notarised ID documents when setting up their account. Individual online trading customers in Australia are required to present their ID documents at an Australia Post branch for verification. Companies, other legal entities and individuals based outside Australia, must submit certified / notarised ID documents by mail for verification. Full details of the required customer ID documents and certification / notarisation methods are specified on the Customer Identification Documents webpage Schedule of ID Requirements. The Perth Mint reserves the right to request additional customer identification information, at its discretion. Certified ID documents including the certifier’s original signature must be posted to The Perth Mint, Attn: Bullion Desk, PO Box 6297, East Perth, Australia WA 6892.
  7. Pricing. All prices quoted on The Perth Mint Bullion website are updated only during The Perth Mint business hours from Monday to Friday (excluding Public Holidays). These prices are indications of The Perth Mint’s retail prices and are not firm commitments to buy or sell at the indicated price. Prices will be confirmed at the time of purchase on checking of the ‘Submit Order’ button. The Perth Mint cannot accept any liability for any loss suffered as a result of any action of any kind taken by any person based on this pricing information and reserves the right to decline any trade involving without limitation pricing or inventory errors caused by computer errors or malfunctions. Combined per unit prices quoted are made up of the metal content at the prevailing Perth Mint spot price plus manufacturing premium. The applicable metal price is noted on the Order & Contract Confirmation. As metal is purchased on the customer’s behalf on placement of an order, fixing of the metal price in advance of payment is offered as a service to buyers on condition that all Terms & Conditions are met. The Perth Mint reserves the right to require full or part payment prior to fixing the price, as it sees fit.
  8. Goods and Services Tax (GST). GST is not charged on Bullion whether sold in Australia or overseas.  For sales in Australia, GST is charged on freight and insurance.  For sales overseas, where the product is exported, GST is not charged on freight and insurance, except if the products are not exported within 60 days of order.
  9. Deliveries.
  10. a) Deliveries in Australia. Orders under AUD30,000 are delivered by TOLL Priority courier. Orders over AUD30,000 and under AUD60,000 where no single item exceeds AUD30,000 are delivered by TOLL Priority courier, in two or more shipments delivered on non-consecutive days. In the case of a single item exceeding AUD30,000 or orders with total exceeding AUD60,000, the buyer may opt for delivery by TOLL Priority with an insurance waiver or delivery by Secure Carrier. Photographic ID (passport or driver’s license) and signature from the person receiving the parcel are required for all deliveries. Only the customer or a person appointed by the customer will be able to receive the parcel. The Perth Mint will notify customers when the order has been despatched and the secure carrier will contact the customer to arrange delivery. If the person shown on the documents is not available to receive your parcel, a courier card with contact details will be left for you to arrange a re-delivery or collection of the item within 7 days free of charge. If no action is taken after this period, the items will be returned to The Perth Mint and will incur return freight fees which will be the customer’s responsibility. Additional fees may be incurred for a new delivery. Orders sent by Secure Carrier are only delivered to verified business addresses, and under no circumstances will delivery be made to residential addresses including any business being conducted from a residential location or any post office box address. An alternate person’s (to the customer) full name and telephone number must be provided to The Perth Mint in writing if the customer is to be represented by this person at the time of delivery by Secure Carrier. Photographic ID and signature also applies to this person.

    b) International Deliveries. All orders are delivered by FedEx door-to-door. Orders over AUD20,000 and under AUD40,000 where no single item exceeds AUD20,000 are delivered in two or more shipments delivered on non-consecutive days. In the case of a single item exceeding AUD20,000, the customer may opt to provide an insurance waiver. A signature from the person receiving the parcel is required for all deliveries. Customers will be notified by email when the order has been despatched and the FedEx tracking number provided. If no person is available to receive your parcel, a card with contact details will be left for you to arrange a re-delivery or collection of the item within 7 days. If no action is taken after this period, the parcel may be returned to The Perth Mint and it will incur return freight fees which will be the customer’s responsibility. Additional fees may be incurred for a new delivery.

    A signed acceptance of delivery at the customer’s nominated address will be deemed as completed delivery. Any claim for lost goods must be made within 48 hours of despatch.

    For delivery purposes, the packed weight of a bullion order is estimated as the unpacked weight plus 20% for packaging. We do not offer refunds if freight is lower than the estimated rate.

  11. Insurance.

    a) Australian Customers are offered delivery Insurance on payment of an optional premium, up to the value of AUD60,000 and to a maximum of AUD30,000 per shipment per day where no single item exceeds AUD30,000. If any one item exceeds AUD30,000 you must sign an insurance waiver or use the services of a Secure Carrier. Customers opting to decline insurance must check the appropriate Insurance Waiver liability acceptance button during the website checkout process or sign and return a  Delivery Liability Waiver on the Order & Contract Confirmation and the consequence of declining insurance will be that the customer will be obliged to take out insurance.

    b) International Customers are offered delivery Insurance on payment of an optional premium, up to the value of AUD40,000 and to a maximum of AUD20,000 per shipment per non-consecutive day where no single item exceeds AUD20,000. If any one item exceeds AUD20,000 the customer must agree to sign an insurance waiver or alternatively request a quote for door to door delivery via a Secure Carrier which will automatically include insurance. Customers opting to decline insurance must check the appropriate Insurance Waiver liability acceptance button during the website checkout process or sign and return a  Delivery Liability Waiver on the Order and Contract Confirmation. The acceptance of Insurance Waiver liability in checkout or the return of a signed Delivery Liability Waiver is acceptance that The Perth Mint is not liable for any loss during transit. By choosing not to pay for insurance, the customer will be liable for any loss under any circumstances.  Customers choosing to decline insurance are liable in full for loss of delivery for any reason and the onus of taking out insurance rests entirely with the customer.
  12. Despatch. The Perth Mint will endeavour to despatch orders immediately after the applicable payment method waiting period (2-7 working days) - see Terms and Conditions (Section 4) for further information. During periods of high demand, delivery delays may occur. The Perth Mint accepts no liability in the event of a delayed delivery. 
  13. Contract Completion Guarantee. All applicants registering to buy online at www.perthmintbullion.com must provide a ‘Contract Completion Guarantee’  with the provision of the customer’s credit card, on registration and when placing the order. A process called pre-authorisation will be conducted for every credit card transaction to provide increased protection against fraudulent activity. Pre-authorisation is not a charge, it’s simply a validation of the credit card and is an indication to The Perth Mint that prior to the acceptance of an order placed by the customer and fixing of the price by The Perth Mint, the card will accept charges from The Perth Mint.  A successful pre-authorisation in the amount of AUD 1 is required when adding/updating your credit card information. Your credit card provider will automatically reverse the pre-authorisation within 2-5 business days. The credit card provided for this Contract Completion Guarantee is not authorised for any other charge or payment. The credit card must be current and in the name of the buyer.  In the event of non-completion of the terms of the Order & Contract Confirmation by the customer resulting in the cancellation of the contract, an administration fee of AUD150 plus any losses incurred by The Perth Mint in the liquidation of metal held on behalf of the customer, will be charged to the credit card. Any gains resulting from liquidation of metal will not be remitted to the customer.   
  14. Maximum Liability of The Perth Mint. The maximum liability of The Perth Mint to the customer at any time, provided only to the extent that The Perth Mint is at fault, is limited to the price the customer paid for the specific order. Under no circumstances will The Perth Mint be liable to the customer for any indirect, incidental, consequential, special, punitive or exemplary damages, including without limitation damages for loss of revenue or loss of profits, loss of reputation or loss of goodwill, or delay in delivery of the order, or any increased costs incurred by the customer arising from any provision of these Terms and Conditions including without limitation loss or damage suffered by any person as a result of any investment decision which resulted from formulating and acting upon any material on this website, even if The Perth Mint has been advised of the possibility of such liability or foresaw or could have foreseen such liability, and notwithstanding whether such liability arises in contract, tort, statute, equity or otherwise.
  15. Deposits. Orders over AUD100,000 or equivalent currency value require the payment of 10% deposit in cleared funds prior to the fixing of prices and acceptance of the order, and must be placed via telephone.  A deposit may also be requested in other circumstances regardless of the order value, at The Perth Mint’s discretion. 
  16. Returns. No returns of Bullion are accepted. Any shipment of bullion returned to The Perth Mint due to the customer's refusal to accept delivery or the customer not being available for delivery, will remain the responsibility and cost of the customer, and will not be accepted as a return of product under any circumstances. 
  17. Buy-back. The buy-back of undelivered bullion may be undertaken only if the original purchase has not been despatched and has been paid in full with cleared funds (a delay of up to 7 working days may apply from initial receipt of client payment). 
  18. Trading Hours. Trading hours applicable online at www.perthmintbullion.com are normal Perth Mint trading hours of 8.30am to 4.45pm Perth time (AWST) Monday to Friday, excluding public holidays. Orders for bullion will be accepted by telephone between the same hours (telephone orders require the return of the signed Order & Contract Confirmation by 5.00pm).
Bank Details – Australian Dollars:

Please transfer the contract amount in AUSTRALIAN DOLLARS (AUD), quoting the order number. Payment to this account will not be accepted in any other currency.

Account Name:     GOLDCORP AUSTRALIA
Bank:    WESTPAC BANKING CORPORATION
BSB:    036 000
Account:    810 403

Customers outside Australia require the following additional Bank details:

Bank Identifier Code:      WPACAU2F
Bank Address:    WESTPAC BANKING CORPORATION PERTH WA 6000 AUSTRALIA


WEBSITE TERMS OF USE

YOUR OBLIGATIONS

Account Information
In using this website you agree to: (a) provide true, accurate, current and complete information about yourself as prompted by the registration/checkout form for your account information and (b) maintain and promptly update that information to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or we have reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, we may suspend or terminate your account and refuse any and all current and future use of this website.
You are responsible for maintaining the confidentiality of your password and account information and are fully responsible for all activities that occur under your password or account. You agree to immediately notify us of any unauthorised use of your password or account or any other breach of security.

Acceptable Use
Any conduct by you that in our sole discretion restricts or inhibits any other user from using or enjoying this website will not be permitted. You may view, download, and print material on this website for non-commercial personal use only. Otherwise, you may not publicly display, perform, transmit, list, modify, reproduce, distribute, participate in the transfer or sale of, make derivative works from, upload or otherwise use any of this website's content or the selection, arrangement or coordination of its content.

You may not transmit, post, or distribute anything that is obscene, libellous, abusive, vulgar, threatening, discourteous or otherwise objectionable, violates any law or rights of any party, or a virus or other harmful material. Users are solely liable for any damage resulting from any infringement of rights or other harm resulting from such submissions.

Commercial Use
You may not use this website for trading, sales or commercial purposes other than for making purchases from The Perth Mint.

Termination of Use
We may terminate your access, or suspend your access without any liability to you whatsoever to all or part of the website, without notice, for any conduct that we, in our sole discretion, believe is in violation of any applicable law or is harmful to the interests of another user, a third-party Provider, Merchant, Sponsor, Licensor, service provider, or us.

If you no longer agree to be bound by these Website Terms of Use, you must cease your use of the website. Subject to applicable law, we reserve the right to suspend or deny, in our sole discretion, your access to all or any portion of the website with or without notice. You agree that any termination of your access to the website may be effected without prior notice, and acknowledge and agree that we may immediately deactivate or suspend access to  your account and all related information and files in your account and bar any further access to such files or the website. Further, you agree that we shall not be liable to you or any third-party for any termination of your access to the website.

Ownership of the website and its material
This website is owned and operated by The Perth Mint. All material, including internet pages, documents and on-line graphics, audio and video, are protected by laws relating to intellectual property. The material is solely owned by The Perth Mint, its licensors, and other third-party licensors. You are free to copy material on this website for non-commercial and personal use only and any fair dealing for the purposes of private study, research, criticism or review, as permitted under the provisions of the Copyright Act 1968. No part may be reproduced or re-used for any commercial purposes without the written permission of The Perth Mint.

Enquiries should be directed to Alex Lucchesi, Public Relations Manager, alexandra.lucchesi@perthmint.com.au.

GENERAL TERMS AND CONDITIONS

Security and Privacy

The website www.perthmintbullion.com employs various security procedures including but not limited to: identity verification, address checking, computer IP address verification and credit card screening. All telephone orders are recorded. The Perth Mint is committed to protecting the privacy of your personal information it collects and receives. For more information please refer to our Privacy and Security Statement.

Advice

The Perth Mint does not provide financial, legal, investment or taxation advice. Customers should consult their own advisors for guidance and recommendations on these issues.  Material on this website is purely for informational purposes, and there is no intention to provide any advice whatsoever to any person, and should not be used as a substitute for professional or industry advice. No reliance whatsoever should be based on any material on this website by any person in formulating any investment decision.  The Perth Mint is committed to quality service to its customers and makes every attempt to ensure accuracy, currency and reliability of the data contained in these documents. However, changes in circumstances after the time of publication may affect the quality of this information.

Other Websites

Material accessible from any websites cross referenced in no way implies that The Perth Mint recommends or endorses the material contained in those websites cross referenced. The Perth Mint has no control over the content or material accessible on any websites cross-referenced. Accordingly, it is the responsibility of internet users to make their own decisions about the relevance or accuracy, currency and reliability of information found on those websites.

Complaints

The Perth Mint has a formal complaints procedure and any complaints should be emailed to orders@perthmint.com.au. A reply will be sent notifying you of what action is being taken and when it will be resolved.

Jurisdiction

These Terms & Conditions shall be governed by and construed in accordance with the laws of the State of Western Australia and all parties irrevocably and unconditionally submit to the non-exclusive jurisdiction of the courts of Western Australia and courts entitled to hear appeals from those courts.