RESPONSIBLE GOLD SALE TERMS
You (“Client”) agree and understand that by clicking to agree below, you are agreeing to be bound by these Responsible Gold Sale Terms (“Terms”) by and between you and G-Wallet Corp (“GWC”), a Delaware corporation, or Responsible Gold Trading DMCC (“RGT”). Accordingly, references in this Agreement to “G-Co” mean GWC or RGT, as applicable.
If, based on your country of residence, your account is located in the United States of America, you are entering into this Agreement with GWC. If your account is located elsewhere (except in the United Arab Emirates) you are entering into this Agreement with RGT.
These Terms shall be applicable to a Transaction upon G-Co’s acceptance of a sale order for Physical Gold placed by you (“Sale Order”) through G Co’s applicable means according to our terms and conditions of service. Please review these Terms carefully as they may have changed.
1. Definitions. Unless otherwise defined throughout these Terms, these Terms incorporate by reference the capitalized terms defined in the Client Account Agreement available on the App or our website at htpps://www.qenta.com/user-agreement/ (the “Account Agreement”).
2. Terms of Sale. Client will sell to G Co and G Co will purchase from Client the Physical Gold specified in the Sale Order (“Sale Transaction”). The terms of the Sale Transaction will be as follows.
a. Quantity. The weight of Physical Gold sold will be the amount specified in Client’s Sale Order. Client acknowledges that G Co will reject any Sale Order that does not comply with the limitations on the maximum and minimum weights of Physical Gold, and the minimum increments thereof, disclosed on G-Co’s website at the time the Sale Order is placed.
b. Legal Tender. G Co will pay the Sale Price (defined below) in the Legal Tender indicated in Client’s Sale Order.
c. Price. The “Sale Price” is the price at which G-Co will accept Client’s offer to sell Physical Gold to G-Co, denominated in U.S. dollars and quoted by G-Co at the time of the Sale Transaction. The Sale Price will reflect the spot price of gold that meets the Responsible Gold Standard, adjusted to include a spread. Additional information relating to G-Co’s pricing methodology is available on the App or on our website at https://www.qenta.com/appsupport.
d. G-Co will deduct from the Sale Price all commissions and fees applicable to the transaction, as disclosed on its website or otherwise communicated to Client when placing the Sale Order.
e. Physical Gold. Client will transfer ownership of the Physical Gold sold in the Sale Transaction to G-Co by transferring the associated Digital Gold to G-Co.
f. Payment of Legal Tender. Upon receipt by G-Co of the Digital Gold associated with the Physical Gold from Client, G Co shall initiate a transfer of the Sale Price, less all applicable commissions and fees, in Legal Tender to Client’s External Account.
g. Applicability of Account Agreement. Client acknowledges and agrees that the Sale Transaction is governed by the Client Account Agreement available on the App or our website at https://www.qenta.com/user-agreement/, including but not limited to its transaction processing, indemnification, and dispute resolution provisions, as a “Service” under the Client Account Agreement.
3. Additional Terms.
a. G Co as Counterparty. G Co is a commercial dealer and not an exchange or brokerage house. Neither G Co nor any of its employees act as an agent, broker or fiduciary for any of G Co’s customers. In each Sale Transaction, G Co acts as a principal and as such purchases Physical Gold from Client on its own behalf.
b. Legal Status. Sale Transactions are commercial cash transactions, not futures, forwards or leverage contract transactions. As such, Sale Transactions are not regulated by the U.S. Commodity Futures Trading Commission.
c. Payment Services Processors. G Co may use a third-party payment processor to process a Sale Transaction involving legal tender between Client and G Co. G Co is not directly supported, endorsed, or certified by any such payment service processors, and G Co and such payment service partners make no warranties or claims about the other.