These terms and conditions of use, when issued in an electronic form, will not require any physical, electronic or digital signature, and will be governed by the Information Technology Act, 2000 and rules thereunder, as may be amended, modified, re-enacted, consolidated or replaced from time to time.

These terms and conditions of use (“Terms and Conditions of Use” or “Terms”) govern the purchase or sale of Precious Metals (as defined below) and the provision of the Services (as defined below) through the website www.KBullion.com (the “Website”), and mobile applications namely “KBullion” (the “Application”) for android and iOS devices (hereinafter collectively referred to as the “Platform(s)).

The Platforms are operated by KBULLION PRIVATE LIMITED, a company incorporated under the laws of India and having its registered office at 1st Floor, Bargharia, N 24 PGS Swarupnagar, West Bengal, 743247 and its affiliates (“KBullion” or “We” or “Us” or “Our”).

DEFINITIONS

For the purposes of these Terms, wherever the context so requires, “You”, “Your” and “Customer” shall mean any Person who is registered as a customer on the Platform in accordance with these Terms.

For the purpose of these Terms, wherever the context so requires, the capitalised terms used in the Terms shall have the following meaning, unless otherwise defined elsewhere in the Terms:

“Consideration” means such amounts as paid by a Customer to KBullion for the purchase of and if applicable, storage and/or delivery of the Precious Metals purchased from KBullion to such Customer in accordance with the relevant purchase request orders placed by such Customer on the Platforms and accepted by KBullion and the tax invoice issued by KBullion.

“Customer Escrow Account” shall mean a non-interest bearing current account (denominated in Indian National Rupees) without any checking or overdraft facilities, which shall be opened by KBullion with one or more independent Bandhan Banks from time to time, in which a Customer will deposit the cash consideration towards purchase of the Precious Metals on the Platform, and shall include any other account which is a successor to or replacement of the Customer Escrow Account, whether due to any re-numbering or re-designation of the Customer Escrow Account or otherwise.

“KBullion Account” shall mean collectively, the KBullion Metal Account and the KBullion Funds Account and individually, an ‘KBullion Account’.

“KBullion Funds Account” shall mean an electronic record of a Customer as accessible to the Customer on any Platform relating to: payments made to Us and from Us in relation to the purchase, sale, storage and delivery of the Purchased Precious Metals and/or any other transactions between You and Us under these Terms; and the fees and other charges levied by Us for Services provided to You from time to time.

3.5% will be charged on any metal sale.

“KBullion Metal Account” shall mean an electronic record of a Customer as accessible to the Customer on any Platform relating to details of the Precious Metals that a Customer owns by way of purchase of the Precious Metals on any Platform (“Purchased Precious Metals”), identified by quantity and purity of the Purchased Precious Metals, and, if as applicable, delivered to Us for storage in the Vault.

“Bandhan Bank” shall mean, an independent escrow bank appointed by KBullion in accordance with the Escrow Services Agreement.

“Escrow Services Agreement” shall mean an agreement executed between KBullion, the Bandhan Bank and the Vault Operator in relation to the escrow services to be provided by the Bandhan Bank in connection with the sale and purchase of the Precious Metals on the Platforms.

“Force Majeure Event” shall include without limitation:

lock outs, dharnas, strikes, or any other industrial dispute or uprising or commotion (in each case, whether or not relating to Our workforce and whether or not beyond Our control);

changes to applicable laws, bye-laws, acts, rules o