This terms and conditions apply to the customer who wishes to purchase and sell physical gold with purity level of 99.9% and/or 999.9%, in Ringgit Malaysia (RM) with TTT Bullion (M) Sdn Bhd. (TTT Bullion)
There are two (2) ways of purchase and sale of gold by buyer. The respective Shariah contract shall be as follows:
(a) Bai Al-Sarf whereby the payment and delivery for/of gold shall be immediate.
(b) Wakalah or agency whereby the buyer will appoint the seller as the agent for safekeeping of the gold purchased in case the gold is not delivery in T+0.
Buyer will be given a receipt for every purchase of gold made from TTT Bullion as an
acknowledgement for the purchase.
Buyer is able to take physical delivery of the gold purchased. For buyer who requires TTT Bullion
to safekeep the gold on their behalf, customer must complete the safekeeping authorization letter
and submit to TTT Bullion.
Buyer or their authorize agent may collect the purchased gold from TTT Bullion by making proper appointment arrangement during the operating hours.
4.1 The Buyer may purchase the Product by placing and completing the order form on the Platform. The Buyer shall be responsible for ensuring the accuracy of the Orders made.
4.2 The Contract between the Buyer and Seller will only be completed once TTT Bullion issues a confirmation of dispatch of the Product to the Buyer. For the avoidance of doubt and subject to Clause 4.6 below, TTT Bullion in its absolute discretion may refuse or cancel any order without giving any reasons for the same to the Buyer prior to issuing the confirmation of dispatch of the Products to the Buyer.
4.3 No concluded Contract may be modified or cancelled by the Buyer except with prior written consent from TTT Bullion. The Buyer further shall indemnify TTT Bullion in full against any loss (including loss of profit), costs (including the cost of all labour and materials used), damages, charges, and expenses as may be incurred by TTT Bullion, as a result of any modification or cancellation of contract.
4.4 Until and unless full payment has been received by TTT Bullion, any negative price fluctuation of the Product shall be accountable to the Buyer, and any positive price fluctuation shall be accountable to TTT Bullion.
4.5 TTT Bullion reserves its right to refuse an Order in its absolute discretion, in cases such as non-payment, late payment, dysfunction, unavailability of the Product and etc. without being required to indicate the reason thereof.
4.6 Once the Order Confirmation has been sent, the Buyer/Seller cannot cancel his/her order.
4.7 Notwithstanding anything to the contrary provided in the preceding paragraph, if the cancellation of the Order of the Buyer by TTT Bullion is due to a technical reason, such as a dysfunction of the website and/or the wrong quotation of prices, TTT Bullion must notify to the Buyer of the cancellation within one week of discovering the error and will refund the Buyer the amount received, as well as all the transaction fees applicable. If the Product has already been sent, the Buyer must return the Product immediately after receiving the cancellation notification.
4.8 All investments involve some level of risk. If the Buyer is considering purchasing precious metals, as an investment, he/she should assess the current market and seek professional advice. The Buyer agrees that TTT Buyer does not provide any advice on the opportunity to invest into, disinvest from, or remain invested in, a particular precious metal.
The price of the Product shall be the price stated on the Platform at the time which the Buyer/Seller places and completes the order form on the Platform. The price includes any applicable sales and service tax, value-added tax or similar tax which the Buyer/Seller shall be liable to pay to TTT Bullion in addition to the price of the Product.
The payment from the Buyer must originate from the bank account of the Buyer who placed the order. The Buyer shall be held responsible and will compensate TTT Bullion for all fees and costs linked to the refund by TTT Bullion of payments made from any third-party accounts, which does not belong to the Buyer.
7.1 There are NO RETURN of the Products purchased from the Platform. Notwithstanding, the Buyer may apply for the return of the purchased Products only in the following circumstances:
7.2 All Products sold to customers on the TTT Bullion Platform are non-refundable. In the event that an investigation is carried out to determine the claims of a Buyer under clause 7.1 (i and ii) is warranted, TTT Bullion will refund the final amount initially paid by the Buyer for the Product.
7.3 The refund will be made to the account used by the Buyer which make the initial payment. TTT Bullion does not permit the Buyer to receive the refund via alternative means such as cash or transfer of funds to a different account than the account that was initially used to make payment.
7.4 All refund processes are expected to take place within 3 to 5 working days.
Subject to clause 4.2 above, once the Buyer purchases from or Seller sold to TTT Bullion and TTT Bullion has issued an Order Confirmation number, the Buyer or Seller has a binding contract. The transaction price will be locked-in, and any corresponding market risk is thereafter transferred to the Buyer or Seller.
9.1 Where TTT Bullion is unable to perform any obligation hereunder as a result of any event that is beyond its control, including but not limited to war, strike, crime, act of God, acts of terrorism, or any other circumstances that may cause TTT Bullion delay or failure to perform such obligation, we shall be excused and shall not be liable for any damages as a result of, or in connection with, such delay or such failure.
9.2 TTT Bullion shall not be liable for any claim arising out of the performance, non-performance, delay in delivery of or defect in the Products nor for any special, indirect, economic or consequential loss or damage howsoever arising or howsoever caused (including loss of profit or loss of revenue) whether from negligence or otherwise in connection with the supply, functioning or use of the Products.
10.1 The Management of TTT Bullion makes it a priority to comply with high standards of antimoney laundering and to combat terrorism financing practice.
10.2 For this purpose, the Buyer or Seller agrees to disclose to TTT Bullion the personal information needed for identification purposes, if the Buyer or Seller wishes to create, continue or 4 | P a g e carry out the business relationship or a particular transaction. The Buyer or Seller, as TTT Bullion’s contractual partner, is subject to a legal obligation to cooperate with TTT Bullion; when necessary; the Buyer must provide TTT Bullion with the information and documentation necessary for identification purposes and must also notify TTT Bullion of any changes which may occur in the course of the business relationship.
10.3 In all cases, TTT Bullion requires from the Buyer his/her name, first name, address, nationality, date of birth, and to confirm his/her email address. TTT Bullion always matches the contracting partner’s name between the given information with the bank payment details and other source of payments.