Terms & Conditions
Price Confirmations and Binding Agreement
Once you have placed an order to buy precious metals from TheMetalExchange.com, you have entered into a binding agreement. When ordering online or over the phone, the price at which your order is placed is the locked-in price. Your invoice and invoice number will be sent to you via email. You must ensure that your payment is sent to "The Metal Exchange" via bank wire within 24 hours. TME reserves the right to cancel orders that do not meet this requirement. We accept payment by bank wire and ACH only. TME reserves the right to refuse an order when the confirmed price is incorrect, due to computer-related problems, pricing error, incorrect item descriptions or sudden movements in the precious metals market. Furthermore, we reserve the right to refuse or cancel any order deemed questionable, suspicious or of significant risk to TME regardless of payment method and price confirmation.
The Metal Exchange uses all of its commercially reasonable efforts to comply with the Uniting and Strengthening of America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (the "USA Patriot Act"). As a dealer in precious metals The Metal Exchange and its partners, WC, uses commercially reasonable efforts to only source its customers' precious metals from dealers that comply with the USA Patriot Act, and only selling to dealers and clients that comply with the USA Patriot Act. Additionally, The Metal Exchange has an express policy against aiding and abetting in the act of money laundering or facilitating any illegal acts governed by the USA Patriot Act or otherwise. By agreeing to The Metal Exchange' terms and conditions and consummating a transaction with The Metal Exchange, each customer hereby represents and warrants to The Metal Exchange that (i) the customer is in compliance with the USA Patriot Act, (ii) none of the funds being used to consummate the transaction were derived from or related or connected to money-laundering, terrorism or any other illegal or illicit activity and (iii) the transaction is not a scheme, or part of a scheme, involving or in support of terrorism, money-laundering or any other illegal or illicit activity. The Metal Exchange, at all times, reserves the right to require the customer to provide supporting information and documentation in support of the preceding representations and warranties or to ensure compliance with the USA Patriot Act.
"Good funds" refers to the moment we receive your direct bank wire. Additional delays may occur if your bank does not cooperate in assisting us with the information needed to verify your transaction.
Cancellation of Orders
Once we have issued a confirmation number, all prices are locked-in and the buyer has entered into a binding agreement. It is not our intention to enter into buying and/or selling transactions, accepting the risks involved only to have them cancelled. However, we realize rare situations happen where orders need to be cancelled. Should you elect to cancel and/or offset your order, you must do so during normal business hours of 8:00 – 4:00 CST Monday – Friday. All cancellations are subject our market loss policy plus a $40.00 (USD) cancellation fee. Cancellations may only be approved over the telephone. At that time, if any market loss to TME has occurred, it will be calculated and added to the $40.00 (USD) cancellation fee. Market losses and penalties must be remitted by bank wire unless other arrangements are agreed upon. No future orders may be permitted until any market loss is paid in full.
Market Loss Policy
When purchasing from TME, once we have issued a confirmation number, the price is locked in for you and the transaction may not be cancelled, but only offset at our current BUY price. Any deficit between the price at which we sold to you and the offsetting purchase price and/or prices, is your responsibility only if your item(s) is cancelled or returned. That amount will be charged to you, plus a $250.00 cancellation fee. That is our Market Loss Policy. Any market gain on cancellations shall remain the property of TME.
Shipment of Your Items
TME orders are shipped from its storage facilities via Registered/Insured U.S. Mail, UPS, and Federal Express. Each package ships fully insured, and requires a signature upon delivery. Packages sent registered and insured mail can take as much as 5-10 business days in transit. If your package is lost, stolen, or damaged while in transit to you it will be covered by these insurance policies. However, neither we, nor our suppliers and affiliates, will accept responsibility if you have left instructions with any carriers or delivery service to leave parcels un-attended for you without the need for a signature. Or, you have given them instructions to leave your package with someone else such as a building manager, neighbor, drop-off location such as Mail Boxes etc., The UPS Store, etc. Insurance is VOIDED once the package has been signed for, whether by you or another representative at the address you have specified. If metals are lost or damaged in transit, it is our responsibility to pursue any claim with the insurance company. If we determine the package is lost, stolen, or damaged, TME, or our suppliers and affiliates, will file a claim. Once the claim is filed, we reserve the right to re-ship your items or refund your money at our discretion. You hereby waive any right to file a claim or receive payment from the insurance company with respect to lost or damaged metals purchased by you and shall cooperate with TME in filing and pursuing any claim. You hereby agree and acknowledge that your only right or remedy is to receive replacement metals or have your money refunded.
We want our customers to be pleased with their purchases. If for any reason you have a problem, please feel free to call our offices and discuss it with us. We will always do our best to accommodate you. If an exchange is requested, we reserve the right to find an acceptable replacement or refund your money.
Acknowledgment of Risk
The purchase of coins or bullion items is highly speculative and involves substantial risk. As in other markets, coin or bullion prices can be extremely volatile and will rise and fall depending upon market conditions. Therefore, before purchasing coins or bullion, you should first have adequate cash reserves and other assets to absorb a potentially significant (and possibly total) loss. Historically, few coins or bullion items have appreciated dramatically in the short term. Therefore, purchasers should recognize that it might be necessary to hold coins for a 3 to 10 year period, to have any chance of realizing a significant gain. You acknowledge and agree that you are entering into the transaction to purchase precious metals from TME freely and voluntarily and not relying upon TME for any representations or warranties. You represent and warrant that you have sufficient knowledge to enter into the transaction and assume the risks of such transaction.