Terms & Conditions

Disclaimer and Transaction Conditions for Aktagold.
Updated: November 30, 2023.

1. Definitions
For the purpose of these Terms & Conditions, the following terms shall have the meanings specified below, unless otherwise indicated:

"Agreement" or "Terms & Conditions" shall mean these terms and conditions that shall govern the relationship between Aktagold and the Customer, except as otherwise specifically provided for, and as same may be amended from time to time, without notice;

"Authorized User" shall mean a person to whom a credit/debit Card has been issued at the authorization of the Primary Cardholder;

"Business Day" shall refer to Aktagold's operational hours, between 9:00 a.m. and 5:00 p.m., Monday through Friday, excluding Saturdays, Sundays and any statutory holidays and bank holidays in the province of Quebec;

"Cleared Aktagold VaultChain™" shall mean metal deposits of gold and silver, calculated to three decimal places, that have been acquired or purchased from Aktagold and that have been paid with cleared funds;

"Customer" shall mean a customer who enters into a transaction with Aktagold for the purchase or sale of Aktagold VaultChain™ is in compliance with these Terms & Conditions between the Customer and Aktagold;

"Customer Purchase Transaction" shall mean any sale operation whereby Aktagold sells Aktagold VaultChain™ to its Customer;

"Customer Sale Transaction" shall mean any sale operation whereby Aktagold purchases Aktagold VaultChain™ from its Customer;

"Aktagold" shall mean Aktagold Inc.;

"Aktagold Account" shall mean a Customer account maintained with Aktagold under the Customer's name or any agreement, between Customer and Aktagold, for the storage or custody of Precious Metals Products. The Aktagold Account allows the Customer to place a Customer Purchase Transaction and Customer Sale Transaction for Precious Metals Products. The Aktagold Account also allows the Customer access through Aktagold's Online web portal for the purposes of conducting transactions, viewing Customer's account information, and purchase and sale transactions history;

"Aktagold VaultChain™" shall mean metal deposits of gold and silver which are purchased through Aktagold under the AktaPlus or AktaSavings plans/accounts, calculated to three decimal places, securely stored by the Royal Canadian Mint and for which the chain of title is maintained and validated by TradeWind Markets, Inc. using a blockchain distributed ledger;

"Kitco" shall mean Kitco Metals Inc. 

"Open Transactions" shall mean all contemplated and submitted Customer Purchase Transactions, and Customer Sale Transactions that have not been completed. For the purposes of confirming a price for a transaction, a Customer Sale Transaction of Aktagold VaultChain™ are not considered an Open Transaction;

"Precious Metal(s)" shall mean and refer to fine gold, silver, platinum, palladium, and rhodium or other such metals as may be amended from time to time;

"Precious Metal Products" shall mean and refer to products in various forms which contain gold, silver, platinum or palladium or other such metals, including but not limited to Aktagold VaultChain™, and other physical pure gold and silver products, as may be amended from time to time;

"Return of Funds" shall mean and refer to a return of cleared funds held on account to the Customer;

2. Application
Customers wishing to purchase from or sell to Aktagold must have an account. For Customers who currently have an Aktagold Account, please refer to Section 3 of these Terms & Conditions.

2.1. Account Opening
Depending on the type of account to be opened, individuals, business entities or trusts can create an account with Aktagold online. Additional information regarding the application forms to be completed and the documentation requirements for each type of account can be found on Aktagold's website.
Failure to provide all required documentation may delay the opening of the Aktagold Account. Upon receipt and formal acceptance of the completed application form and copies of the required documentation, Aktagold will send a confirmation to the Customer as to whether the application has been approved or rejected. Once the application is approved, Aktagold will open an account and inform the Customer of their account details.
The Customer acknowledges that Aktagold relies on the veracity of all information provided by the Customer when processing any application. By agreeing to these Terms & Conditions, the Customer represents and warrants to Aktagold that all information provided by the Customer to Aktagold is true and accurate.

2.2. Multiple Accounts
Unless approved in advance by Aktagold, only one account may be created per Customer. Aktagold will not accept transactions placed by a single Customer over multiple accounts, and the Customer may be held liable for any resulting market loss repayments and administrative fees.

3. Transactions

3.1. Transaction Restrictions
Aktagold reserves the right to unilaterally amend restrictions or implement new restrictions without notice at any time for the sale of precious metals through its website.

3.2. Customer Purchase Transactions

3.2.1. Confirming a Price for Customer Purchase Transactions
A price is confirmed at the time a Customer Purchase Transaction is submitted (both online as well as by telephone). Customer Purchase Transactions are submitted only after payment for each order has been received by Aktagold from Customer. Should a Customer cancel a Customer Purchase Transaction after it has been submitted, the Customer may be liable for market loss repayments and administrative fees, pursuant to Sections 5.1 and 6.1.3. Subject to the conditions set out in the Schedule of Transaction Restrictions, the price at the time a transaction is submitted will be confirmed, regardless of market fluctuations.
Customers must provide a valid Visa or Mastercard credit/debit card or similar Aktagold accepted credit/debit card in order to submit a transaction, or pay for the transaction via international wire transfer or domestic US bank transfer. The price at the time a transaction is submitted will be confirmed, regardless of market fluctuations.

3.3. Customer Sale Transactions

3.3.1. Aktagold VaultChain™
A price is confirmed at the time a Customer Sale Transaction for Aktagold VaultChain™ is submitted (both online as well as by telephone). Should a Customer cancel a Customer Sale Transaction after it has been transmitted, the Customer may be liable for market loss repayments and administrative fees, pursuant to Sections 5 and 6.
Customers must provide a valid Visa or Mastercard credit/debit card or similar Aktagold accepted credit/debit card in order to submit a transaction, or pay for the transaction via international wire transfer or domestic US bank transfer. The price at the time a transaction is submitted will be confirmed, regardless of market fluctuations.

3.4. Credit/Debit Cards
As described in Sections 3.2 and 3.3, Customers may be required to provide a valid Visa or Mastercard credit/debit card or similar Aktagold accepted credit/debit card when purchasing or confirming a price for a transaction.
Credit/debit card is an acceptable form of payment for products purchased from Aktagold (as outlined in Section 3.2) for market loss repayments (as outlined in Section 5) or other fees (as outlined in Section 6) that become payable and remain unpaid.
By providing a valid credit/debit card to Aktagold, the Customer confirms that:

• The Customer is the named credit/debit card holder or Authorized User to use the credit/debit card;

• The credit/debit card may be used to confirm a price for a transaction (if applicable);

• The credit/debit card may be used to pay for the Customer Purchase Transaction (as outlined in Section 3.2);

• Aktagold can pre-authorize a nominal amount on the credit/debit card; and

• Aktagold may charge unpaid outstanding market loss repayments or other fees to the credit/debit card.

4. Payment and Funds on Account

4.1. Acceptable Methods of Payment and Adding Funds to an Aktagold Account
At any one time, payment can be made and funds can be added to an account using only one method in addition to funds on account. Multiple payments or funds sent at the same time will not be accepted. The methods of payment or adding funds to a Aktagold Account, along with their corresponding transaction limits and fees, are defined in the Schedule of Accepted Payment Methods.
Aktagold may refuse payments or funds (in any form whatsoever, including, and without limitation, credit/debit card, checks, cash, bank drafts, money orders or bank wires) received from an individual or from an entity that is not the named account owner. Furthermore, Aktagold may request additional documentation before such payment or funds are applied to Customer's Aktagold Account or delivery of Customer's Purchase Transaction.

4.2. Payment Deadlines - Customer Purchase Transactions
Payment must be sent to Aktagold within one (1) Business Day from the date on which a transaction is submitted. Payments made by bank wire must be received by Aktagold no later than three (3) Business Days from the date on which a transaction is submitted.
Should a Customer fail to send payment within one (1) Business Day from the date on which a transaction is submitted, or if Aktagold does not receive payment within the deadline specified above, Aktagold reserves the right to cancel the transaction and the Customer will be liable for market loss repayments and other fees, as described in Sections 5 and 6.

4.3. Credit/Debit Cards
A valid Visa or Mastercard credit/debit card or an Aktagold accepted credit/debit card is an acceptable method of payment for Customers. If paying by credit/debit card, Customer must confirm the billing address associated with said card.
Aktagold may also refuse a payment by credit/debit card without notice at any time and may request additional documentation and information before such payment is applied to Customer's Purchase Transaction or delivery of the Customer's Purchase Transaction.
Aktagold does not accept any pre-paid credit/debit cards or gift cards for a Customer's Purchase Transaction.

4.4. Bank Wires
Aktagold's bank wire information is made available to the Customer at the end of the online ordering process, through the Customer's online account transaction details. This information is also made available to the Customer by email, once a transaction is submitted.
Bank wire transfers must respect the payment deadlines described in Section 4.2. Bank wire transfers must always reference the Customer's Aktagold Account full name in order for funds to be properly applied to said account.

4.4.1. International Bank Wires
International bank wires may be subject to correspondent bank fees that are deducted while a wire is in transit. As Aktagold's bank is simply the recipient bank, it is impossible to determine the fees that may be deducted by any correspondent banks. Aktagold highly recommends that all Customers sending funds from a bank outside the United States include an additional amount on their bank wire to accommodate for any fees that may be deducted by a correspondent bank. The Customer should confirm with their banking institution the exact amount that may need to be included in the wire to cover all fees that may be deducted. Aktagold will always credit the entire amount it receives to the Customer's account. Should no fees be deducted, the entire bank wire amount will be credited to the Customer's account.

4.5. Proceeds from Customer Sale Transactions, and Return of Funds
Settlement options, along with the corresponding fees and transaction limits, for Customer Sale Transactions, and Return of Funds are defined in the Schedule of Accepted Payment Methods and are subject to change from time to time.
Once a payment option has been selected it cannot be altered for any reason.
Processing and settlement for Customer Sale Transactions may take two (2) Business Days. Return of funds may take five (5) Business Days from receipt of request to Aktagold.
However, note that settlement time may be delayed due to statutory and bank holidays in Canada and the US, increased market activity, capacity limitations of Aktagold, or size of the transaction.
Due to anti-money laundering legislation in both the United States and Canada, Aktagold cannot forward the proceeds from any Customer Sale Transaction to an individual or entity who is not a designated account owner. Any payment from a Customer Sale Transaction in a Business Account can be made in the business name only. For Sole Proprietorships, payment can be made in the business name or the sole proprietor's name, provided proper authorization documentation has been received by Aktagold.
Note that for any single transaction, payment can be made by only one method in addition to funds on account.

4.6. Completing a Transaction

4.6.1. Customer Purchase Transactions
A Customer Purchase Transaction is completed when payment is received in full within the payment deadlines described in Section 4.2 and the purchase order is confirmed by Aktagold, provided that no hold is placed on payment, and Aktagold performs its principal obligation.

4.6.2. Customer Sale Transactions
A Customer Sale Transaction is completed when the Customer puts in the order within the deadlines specified in Section 3 and Section 4 and the sale order is confirmed by Aktagold, and Aktagold performs its principal obligation.

5. Transaction Cancellations
When canceling a transaction, market loss repayments may apply as a submitted transaction constitutes a binding agreement between Aktagold and the Customer. Applicable market loss repayments will be determined based on the following:

5.1. Customer Purchase Transactions
In the event a Customer Purchase Transaction is canceled (whether by the Customer or by Aktagold as a result of non-payment, chargebacks or payment recall or reversal), market loss repayments may be applicable. This fee is calculated based on whether there has been a decrease in the price of the Precious Metals (market loss) from the time the price is confirmed for a submitted transaction to the time a transaction is canceled.
For Customer Purchase Transactions canceled by Aktagold as a result of non-payment, chargebacks or payment recall or reversal, market loss repayments will be calculated using the LBMA PM gold price, LBMA PM platinum price, LBMA PM palladium price or the LBMA silver price on the day that the payment deadline expires. For transactions involving rhodium, market loss repayments will be calculated using Kitco’s live spot price (plus applicable premiums) for rhodium on the day that the payment deadline expires.
For Customer Purchase Transactions which are canceled by the Customer, market loss repayments will be calculated using Kitco's live spot price at the time a cancellation request is submitted.
Decrease in Price of Precious Metals
In the event of a decrease in the price of Precious Metals, the market loss repayment will be equivalent to the difference between the original value of the Customer Purchase Transaction and its value at the time of cancellation.
Increase in Price of Precious Metals
In the event of an increase in the price of Precious Metals, no market loss repayment will be applicable.

5.2. Customer Sale Transactions
In the event a Customer Sale Transaction is canceled, whether by the Customer or by Aktagold, market loss repayments may be applicable. This fee is calculated based on whether there has been an increase in the price of Precious Metals from the time a transaction is submitted and the price confirmed to the time a transaction is canceled.
For Customer Sale Transactions canceled by Aktagold, market loss repayments will be calculated using the LBMA PM gold price, LBMA PM platinum price, LBMA PM palladium price or the LBMA silver price on the day that the cancellation is done. For transactions involving rhodium, market loss repayments will be calculated using Kitco’s live spot price for rhodium on the day the cancellation is done.
Increase in Price of Precious Metals
In the event of an increase in the price of Precious Metals, the market loss repayment will be equivalent to the difference between the original value of the Customer Sale Transaction and its value at the time of cancellation.
Decrease in Price of Precious Metals
In the event of a decrease in the price of Precious Metals, no market loss repayment will be applicable.

5.3. Cancellation at the Customer's Request
Transactions may be canceled at the Customer's request, provided payment has not been received or settlement has not been issued in full. Should the Customer request a cancellation, the above cancellation policy will be considered in effect. Fees will be calculated based on Kitco's live spot price for the product being canceled at the time a cancellation request is submitted. Customers must submit all requests for cancellation in writing and confirmed by telephone.

5.4. Unauthorized Sale Transaction Request
In the event that a Customer Sale Transaction is initiated when the Customer did not request the transaction, the Customer must notify Aktagold immediately upon being made aware of the request so that Aktagold may begin examination of the claim without delay. In the event that Aktagold determines that the Customer Sale Transaction was unauthorized, the market loss repayments will be waived.

6. Fees
Aktagold may charge the fees and premiums to the Customer. Such fees, which are subject to change from time to time, are set out in the Schedule of Fees (which fees shall be subject to change from time to time). Unless otherwise specified, all fees stated are in US Dollars. A transaction placed in Euros will be converted based on the US Dollar exchange rate at the time the transaction is submitted.

6.1. Administrative and Storage Fees

6.1.1. Aktagold VaultChain™
Aktagold VaultChain™ accounts may be subject to an applicable account set-up fee, management fees and custodian fees in the amounts posted on the Aktagold website from time to time (which fees shall be subject to change). Applicable Aktagold VaultChain™ account set-up fees will be charged to Customers upon the opening of a Aktagold VaultChain™, the custodian fees will be charged on a monthly basis, and the management fees will be charged annually. If an Aktagold VaultChain™ account is closed before the management fee is charged, Aktagold has the right to charge the management fee pro rata at closing, deducting the amount due from the proceeds returned to the account holder. The account set-up fee, custodian fees, and management fees are calculated/quoted in US Dollars.

6.1.2. Transaction Cancellations
In addition to applicable market loss repayments, transactions canceled pursuant to Section 5 will be subject to an administrative fee in the amounts posted on the Aktagold website from time to time (which fees shall be subject to change).

6.2. Sales Tax
Unless otherwise indicated in this Agreement, all fees quoted herein and on Aktagold's website are exclusive of sales tax.

7. Right to Withholding and Compensation (Set-off)
To secure the payment or repayment of any sums payable by Customer to Aktagold, including, without limitation, for transactions, market loss repayments, account opening fees, administrative fees, storage fees, or any other account or transaction-related fees, Customer undertakes to maintain and consents that Aktagold withholds cleared funds on Customer's Aktagold Account, in an amount corresponding to those funds needed to confirm a price for Customer transactions, as described in Section 3. Aktagold may withhold said funds on Customer's Aktagold Account, until full payment has been received.
In case of cancellation of a transaction or non-payment by Customer of any amounts due and payable to Aktagold pursuant to the terms of this Agreement, Aktagold may, subject to applicable laws and the terms of this Agreement (including in the case of overdue amounts as described in Section 9.1), in its discretion and without notice to Customer, set-off or compensate any amounts that Customer owes to Aktagold against assets in Customer's Aktagold Account.
To the extent allowable by applicable law, Aktagold may enforce its rights under this Section 9 by: (a) using any cleared funds in a Aktagold Account to satisfy such outstanding amounts; or (b) disposing of any assets held in a Aktagold Account including but not limited to balances of Cleared Aktagold VaultChain™ to satisfy such outstanding amounts. In the event that Aktagold disposes of any of the assets held in the Customer's Aktagold Account in accordance with its rights under this Section 7, then, after deducting all unpaid amounts due and owing to Aktagold plus any and all costs of administration, including any costs associated with storing, disposing and reselling the assets, and any other charges, fees and expenses Aktagold may incur in disposing of the assets and enforcing its rights hereunder. Aktagold shall remit the remaining balance, if any, of the proceeds of such disposition to the Customer.
Customer acknowledges and agrees that it will reimburse Aktagold for all reasonable costs incurred by Aktagold (including legal fees) in connection with the collection of any amounts owed by Customer to Aktagold.

8. Aktagold VaultChain™
As defined in the present Agreement, Aktagold VaultChain™ is comprised of gold and silver deposits purchased through Aktagold for which the chain of title is recorded in a blockchain distributed ledger maintained by TradeWind Markets, Inc. Aktagold VaultChain™ may consist of precious metals in any form whatsoever, including, without limitation, bars, coins, and scrap metal. Precious metal deposits that form Aktagold VaultChain™ shall remain the property of Customer holding Aktagold VaultChain™ at all times. These precious metal deposits belong to Customers who hold Aktagold VaultChain™. The Royal Canadian Mint securely stores Aktagold VaultChain™.
Customers holding Aktagold VaultChain™ hereby authorize Aktagold to perform any and all acts necessary for the administration of Aktagold VaultChain™ on their behalf, including, without limitation, arranging for the insurance of Aktagold VaultChain™.

9. Remedies
In the event that Customer is in default of any of its obligations under this Agreement, Aktagold shall immediately have the option, in its sole discretion, in addition to any other rights which it may have at law or in equity and without any further notice to the Customer, to exercise any of the remedies specified under this Agreement.

9.1. Overdue Amounts
In the event that Customer fails to pay any amount due and owing at any time to Aktagold in accordance with the terms of this Agreement, Aktagold may provide Customer with written notice detailing the failure to pay and Aktagold's intention to dispose of the Customer's Precious Metal Products (including Cleared Aktagold VaultChain™ balances) if the failure is not remedied within sixty (60) days following the delivery of such notice. In the event that Customer fails to remedy its failure pay such outstanding amounts in full within said sixty (60) day period, Aktagold shall be entitled to dispose of the Precious Metal Products (Cleared Aktagold VaultChain™ balances) in its sole and entire discretion, without further notice or delay. In the event that Aktagold sells the Customer's Precious Metal Products (Cleared Aktagold VaultChain™ balances) in accordance with its rights hereunder, as are more specifically set out in Section 9 above.

9.2. Inability to Perform
In the event that:

• (i) either Aktagold or Customer fails to perform any material obligation pursuant to the terms of this Agreement and does not cure such failure within thirty (30) days after the receipt of written notice thereof from the other party,

• (ii) either Aktagold or Customer shall be dissolved or adjudged bankrupt, or a trustee, receiver or conservator of such party or its property shall be appointed, or an application for any of the foregoing is filed,

• (iii) control of either Aktagold or Customer is taken over by any government or other public authority, or

• (iv) any government or governmental agency shall have taken any action which has materially adversely affected or will materially adversely affect a party's ability to perform any of its obligations hereunder, and such action shall not have been rescinded or modified, and the adverse effects thereof shall not have been eliminated, within thirty (30) days after written notice of such action shall have been given to the other party,

then this Agreement may be terminated at any time thereafter by Aktagold or Customer upon written notice to the other party.
In the event of termination of this Agreement in accordance herewith, provided that there are no unpaid fees, charges or other amounts due to Aktagold, Aktagold shall promptly arrange for the sale of all Precious Metal held for Customer and deposit of the proceeds into Customer’s bank account in accordance with Customer's instructions.

10. Risk

10.1. Advice
Aktagold has not offered or given and will not provide any investment advice in connection with any transaction and has not offered or given any opinion with respect to the suitability of any transaction made or which might be made by the Customer.
The Customer acknowledges, represents and warrants that Aktagold has not offered or given any investment advice to Customer in connection with the products and services offered by Aktagold. In addition, Aktagold has not given Customer any opinion with respect to the suitability of any of its products or services for Customer.

10.2. Market Risk
Customers should carefully consider the suitability of Precious Metals as an investment choice before taking any decisions that may affect their financial situation. Precious Metal products and accounts are not insured by the Canadian Deposit Insurance Corporation, Canadian Investor Protection Fund or other similar program and may lose value.
The purchase and sale of Precious Metals involves a high degree of risk and is not suitable for all persons. The purchase and sale of Precious Metals provides no guarantee of interest, yield or return. Losses may be incurred both as a result of price devaluation and if price gains do not exceed applicable fees, including those charged herein. The Customer has read and understands these Terms & Conditions and acknowledges that all risk of decline in the market value of any Precious Metals is the Customer's risk and not that of Aktagold. If the Customer has any doubt as to the suitability of Precious Metals as an investment, the Customer should contact an independent legal or financial advisor.

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11. KYC, AML & CFT
It is the policy of Aktagold to prohibit and actively prevent money laundering and any activity that facilitates money laundering or the financing of terrorist or criminal activities. We will comply with all applicable requirements and regulations. Our Know-Your-Client (“KYC”), Anti-Money Laundering (“AML”), and Countering the Financing of Terrorism (“CFT”) policies, procedures and internal controls are designed to ensure compliance with all applicable regulations and will be reviewed and updated on a regular basis to ensure appropriate policies, procedures and internal controls are in place to account for both changes in regulations and changes in our business. U.S. regulations state that i) we may seek the services of a third party to apply measures of due diligence; ii) regardless of reliance on a third party, we remain liable for maintaining all such compliance and fulfilling KYC, AML and CFT obligations. For further reference on Aktagold’s full KYC, AML & CFT Policy, click here.

12. Aktagold's Rights
Aktagold hereby reserves the following rights and the Customer acknowledges and agrees to the following:

• Aktagold may adjust ASK and BID prices at any time without prior notice.

• Aktagold may withdraw or limit the products or services provided by telephone, in person and on Aktagold's website, or may suspend the availability of Aktagold's website, or suspend the completion of transactions submitted to Aktagold, without notice at any time.

• Aktagold may cancel or reject any order at any time.

• Aktagold may place limits on the amounts that may be offered for sale or the amounts that may be bought back by Aktagold in any twenty-four (24) hour period.

• Aktagold may terminate this Agreement at its sole discretion and may freeze an account or liquidate and close an account at any time for any reason including, but not limited to the abuse of policy, criminal activity, circumvention of Aktagold's web security services, and any other violation of these Terms & Conditions. If the Customer has Aktagold  VaultChain™, Aktagold will close the Customer's Aktagold Account and liquidate any Aktagold VaultChain™ holdings and send the Customer a bank wire as explained in sub-section 4 herein.

13. Limitation of Liability
Aktagold hereby reserves the following rights and the Customer acknowledges and agrees to the following:

13.1. Capital Gains/Income Taxes
Aktagold does not report any Customer transactions to the Internal Revenue Service; however, the purchase or sale of Precious Metals may be considered reportable as taxable income. It is the Customer's responsibility to contact a financial advisor for further information. Aktagold will not be held liable for any capital gains or tax implications due to the purchase or sale of precious metals by the Customer.

13.2. Technical Issues

13.2.1. Electronic Order Entry Risk Disclosure and Disclaimer
Aktagold specifically disclaims any liability or responsibility for orders placed via the Aktagold online order entry system, for any losses, or direct, indirect, consequential or incidental damages, which the Customer may recognize or incur as a result of the use of the Aktagold online order entry system. Further, Aktagold specifically disclaims any liability for the interruption, cancellation or other termination of the Aktagold online order entry system.

13.2.2. Negligence
All orders placed through the order entry system are taken on a best efforts basis. Aktagold shall not be responsible for errors, negligence or inability to execute orders. Nor shall Aktagold be responsible for any delays in the transmission, delivery or execution of Customer's order due to breakdown or failure of transmission or communication facilities, or to any other cause or causes beyond Aktagold's reasonable control or anticipation.

13.2.3. Possible System Failure
Order entry systems have been designed to provide an efficient and dependable method for entering orders. Commercial internet service providers are not 100% reliable and a failure by one or more of these providers may affect internet based order entry. The Customer acknowledges that the order entry system is a mechanical system and as such may be subject to failure beyond the control of Aktagold.

13.3. Internet Security
Aktagold adheres to the highest security measures to ensure Customer data is protected against theft, loss, and corruption, and against the misuse and alteration of any Customer data stored on our servers. However, when a Customer accesses their account via a public or unsecured computer terminal or if a Customer chooses to share their account username and password ("Electronic Identification Information"), Aktagold cannot guarantee the security of account data.
Sensitive communication between the Customer and Aktagold's website is always protected via encryption while in transit, using the SSL encryption standard. However, the Customer should be aware that Aktagold has no control over the privacy of Customer email communications with us. We highly recommend that Customers not include private and sensitive information in emails to Aktagold, including, but not limited to, account numbers, balances, passwords, Electronic Identification Information, etc. Aktagold will not be held liable for any damages suffered by Customers should they transmit confidential or sensitive information to us through email.
Information provided on Aktagold's website is not intended to provide legal, accounting, or tax advice, and should not be relied upon in that regard. Aktagold is not responsible in any manner for direct, indirect, special or consequential damages howsoever caused, arising out of the use of its website.

13.4. Indemnification
Except as otherwise expressly provided, Aktagold shall not be liable for any loss or damage, whether direct or indirect, resulting from the transactions contemplated by these Terms & Conditions.
Aktagold shall not be liable under any circumstances whatsoever for special, incidental, consequential, indirect or punitive losses or damages (including lost profits or lost savings), whether or not caused by the fault or neglect of Aktagold and whether or not Aktagold had knowledge that such losses or damages might be incurred.
The limitations and exclusions in this clause shall apply to all claims of whatsoever nature, kind and description, whether arising from breach of contract, delay or non-delivery of services, negligence or otherwise.

13.5. Force Majeure
Aktagold shall not be liable for any failure to perform its obligations hereunder due to fire, computer viruses, network failure, computer hardware failure, explosion, flood, lightning, act of terrorism, war, rebellion, riot, sabotage, orders or requests of any government or any other authority, legislative changes, strikes, lockouts or other labor disputes, or events or circumstances beyond its reasonable control, but Aktagold shall use commercially reasonable endeavors to minimize dangers or losses to the Customer as a consequence of such events.

14. Customer Obligation and Liability

14.1. Ownership and Authority
Customer further warrants that it is authorized to accept and is accepting the terms of this Agreement not only for itself but also as agent for or on behalf of all other parties who have or may hereafter have any interest in said Aktagold VaultChain™ account.

14.2. Compliance and Due Diligence
The Customer is responsible for complying with all laws of the jurisdiction from which the Customer accesses the Aktagold website or receives the services described herein, and the Customer shall at all times be solely responsible for obtaining any authorizations required by any authoritative body in such jurisdiction.
The Customer has carried out reasonable due diligence to ensure that the purchase and sale of Precious Metals as provided under these Terms & Conditions is not contrary to any laws or regulations of the Customer's governing jurisdiction, and that the acceptance of these Terms & Conditions by the Customer and the entering into of a Customer Purchase Transaction or Customer Sale Transaction is not contrary to any federal, provincial, state or any other law or regulation applicable to the Customer.

14.3. Protection of Electronic Identification Information
It is the Customer's obligation to ensure that its Electronic Identification Information is kept secret. The Customer agrees to keep their Electronic Identification Information and all components thereof secret and safe to prevent unauthorized use.

14.4. Notification
If a Customer believes that any transaction or balance recorded in their account is incorrect, the Customer must contact Aktagold immediately to notify Aktagold of suspected unauthorized use of Customer's Electronic Identification Information. Customers are responsible for ensuring the accuracy of the information displayed in their account, however accessed. Aktagold will not be held liable should a Customer fail to disclose any unauthorized use of Electronic Identification Information and Customer's Aktagold Accounts.

14.5. Customer Liability
Aktagold will be under no obligation to confirm the actual identity or authority of any user of the Electronic Identification Information or any component thereof.
The Customer will not be responsible for any unauthorized use of Electronic Identification Information occurring after notifying Aktagold of the suspected unauthorized use as indicated in sub-section 14.4 above.
The Customer represents and warrants to Aktagold that any funds or Precious Metals advanced, remitted or sold by the Customer to Aktagold in connection with a Customer Account, a Customer Sale Transaction and/or a Customer Purchase Transaction will not represent proceeds of crime for the purposes of the PCMLA Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) (the “PCMLTFA”). The Customer further represents and warrants to Aktagold that none of the funds provided by the Customer to Aktagold: (i) have been or will be derived from or related to any activity that is deemed criminal under the laws of Canada, the United States, or any other jurisdiction; or (ii) are being tendered on behalf of a person or entity other than the Customer, and the Subscriber will promptly notify Aktagold if the Customer discovers that any of such representations cease to be true and provide Aktagold with appropriate information in connection therewith;

15. Intellectual Property, Trademarks, Logos
All of the intellectual property rights including without limitation trademarks, service marks, trade names, copyright and other rights used or embodied in this website are and will remain the sole property of Aktagold (or its suppliers where applicable).
All information and material supplied by Aktagold, constitutes part of Aktagold's confidential and proprietary information and no Customer participating in any of its programs may reproduce, copy or disclose such information without the prior written consent of Aktagold.
No party accessing this website may attempt to tamper with, modify, reverse engineer, gain unauthorized access to, or in any way alter any software used in Aktagold's programs or comprising Aktagold's website.

16. Maintaining an Active Aktagold Account

16.1. Aktagold reserves the right to deem a Customer's Aktagold Account with no precious metals holdings as inactive if there exists no account activity in the account for a period of twelve (12) consecutive months.
16.2. Where the Customer's Aktagold Account has been deemed inactive in accordance with section 16.1, Aktagold may, at its discretion, deactivate the Customer's Aktagold Account following sixty (60) calendar days prior written notice to the Customer.
16.3. The Customer's Aktagold Account will be assessed individually for activity; as such, the deactivation of one Aktagold Account shall be considered separately from any other existing Aktagold Account.
16.4. Aktagold may also, at its discretion, deactivate the Customer's Aktagold Account by giving the Customer a written notice to that effect upon or following the termination of the Agreement in accordance with Section 12 of this Agreement.
16.5. If, upon the Aktagold Account being deactivated, there exists a positive balance therein, the Customer may make arrangements to transfer the balance of cleared funds to another Aktagold Account.
16.6. Where the Customer makes a transfer of the positive balance, the transaction will be subject to all applicable processing and administrative fees.
16.7. If, upon deactivation, there exists a negative balance in the Customer's Aktagold Account, the Customer or its successors and assignees shall be required to settle any such negative balance with Aktagold.

17. Miscellaneous

17.1. Insolvency
In the event: (i) that a receiver or trustee is appointed in respect of the property and assets of the Customer as a result of the latter's insolvency or bankruptcy, and (ii) that Aktagold is requested by the receiver or trustee to remit any Customer holdings, the receiver or trustee will direct any Customer holding liquidation requests to Aktagold. Any inquiries by the said trustee or receiver regarding the present Agreement between the Customer and Aktagold shall be directed to Aktagold.

17.2. Death of Customer

17.2.1. Individual Account
In the event of Customer death, Aktagold will require full documentation of the Customer's estate, including a copy of a death certificate, will or trust documentation, and any probate information if applicable. Upon confirmation of a Customer death, Aktagold will freeze the Customer's account and act in accordance with the conditions set out in the Customer's will, or as instructed by the trustee of the Customer's estate. It is the sole responsibility of the Customer to ensure that such documentation will be provided for in the event of death.

17.3. Changes to Terms & Conditions
Aktagold reserves the right to amend these Terms & Conditions, any applicable fees and charges, or any services, rights or obligations provided for herein at its sole discretion, at any time, without prior notice to the Customer. Acceptance of these Terms & Conditions is limited to the acknowledged transaction and is not applicable to any future transactions. The Customer will be responsible for accepting the Terms & Conditions for every subsequent transaction.

17.4. Applicable Law
This Agreement shall be construed in accordance with and governed by the laws applicable in the State of Texas and the laws of the United States of America applicable therein. The Parties hereby irrevocably submit to the non-exclusive jurisdiction of the Courts of the State of Texas in respect of all matters or disputes arising from the Agreement, except as otherwise specifically stated herein.

17.5. Binding Effect
This Agreement is binding upon the parties hereto and their respective successors, heirs, legal representative and permitted assigns.

17.6. Severability
In the event that any provision in this Agreement is determined to be invalid, illegal, or unenforceable, such determination shall not affect the validity and enforceability of any other remaining provisions of this Agreement.

17.7. Language
The parties hereto have expressly required that this agreement and all deeds, documents or notices relating thereto be executed in the English language. 

17.8. Privacy
Aktagold respects your privacy. Aktagold's Privacy Policy is available here.

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