These "Terms" and "Conditions of Use" ("Terms/GOLDNEST VISION360 PVT LTD Terms and Conditions") constitute an electronic record within the meaning of the applicable laws. This electronic record is generated by a computer system and does not require any physical or digital signatures. These Terms shall be in addition to, and not in derogation of, any other terms as stipulated from time to time. By using this facility on the GOLDNEST VISION360 PVT LTD Platform, you are agreeing to and accepting these Terms.
Please read these Terms carefully.
In these Terms, references to "You" / "you" / "Your" or "Customer" shall mean the counterparty who transacts using the GOLDNEST Platform (the "Platform"), being a natural person, buying Gold/Silver, redeeming Gold/Silver in the form of redeemable products, or selling back Gold/Silver to GOLDNEST VISION360 PVT LTD.
“Platform” shall mean and include the platforms (such as the website, mobile applications, and others) of GOLDNEST that the Customer accesses for transactions, including all content, services, and technology offered through the Platform.
“Service Providers” refers to independent third-party service providers.
References to “Seller”, “GOLDNEST VISION360 PVT LTD”, “we”, “us”, and “our” shall all mean GOLDNEST VISION360 PVT LTD.
The “Customer’s Gold Accumulation Plan Account” (also referred to as the “GAP account”) shall mean the individual Customer’s Gold Accumulation Plan account, identified through their GOLDNEST VISION360 PVT LTD account based on the registered mobile number present in the records of GOLDNEST VISION360 PVT LTD.
“Transfer” refers to the facility to transfer Gold/Silver from one Customer’s GAP account to another Customer’s GAP account.
GOLDNEST VISION360 PVT LTD may revise these Terms from time to time and at any time. Such changes shall become effective once posted on the Platform and shall be deemed to have been notified to the Customer. If you do not agree to be bound by these Terms and Conditions of Access and Use, as modified from time to time, you should discontinue use of the Platform immediately.
GOLDNEST VISION360 PVT LTD shall be entitled to collect and store relevant information and documents provided by the Customer. Further, as and when required by GOLDNEST VISION360 PVT LTD, based on applicable government regulations, the Customer will be required to provide additional documents to fulfil the KYC (Know Your Customer) requirements.
You authorise GOLDNEST VISION360 PVT LTD to make such enquiries as may be necessary to verify the validity of your identity. You also undertake to update GOLDNEST VISION360 PVT LTD in case of any changes to your personal information or the verification documents you have provided.
You agree to provide true, accurate, current, and complete information about yourself as prompted by the Platform and to maintain and promptly update this information to ensure it remains true, accurate, current, and complete. If you believe there is an error in the information provided to GOLDNEST VISION360 PVT LTD, you shall immediately inform GOLDNEST VISION360 PVT LTD in writing and provide the correct or updated information without delay.
If you provide any information that is untrue, inaccurate, outdated, or incomplete, or if GOLDNEST VISION360 PVT LTD has reasonable grounds to suspect that such information is untrue, inaccurate, outdated, or incomplete, GOLDNEST VISION360 PVT LTD reserves the right to suspend or terminate your account/GAP account and to refuse any and all current or future use of the Platform (or any portion thereof), without any liability to you.
You hereby undertake to indemnify and keep indemnified GOLDNEST VISION360 PVT LTD against any and all losses, claims, liabilities, and costs that arise from or relate to your failure to verify your identity or to provide valid KYC documents and/or information in a timely manner.
You can offer to buy gold or silver worth ₹1.00 (Rupee One Only) or more (in incremental value) at the live purchase price of 99.9% purity gold/silver as displayed on the Platform.
Payment will be accepted only through your GoldNest wallet or other payment options made available on the Platform. At the time of purchase, redemption, sell-back, or transfer of gold/silver, applicable taxes will be charged as per government regulations.
At the time of redemption, the customer can select a redeemable product from the catalogue available on the Platform. This catalogue may be updated or modified by GOLDNEST VISION360 PVT LTD at its sole discretion from time to time.
For physical product redemption, the customer will be required to pay additional making and delivery charges along with applicable taxes. Redemption is subject to the availability of stock with GOLDNEST VISION360 PVT LTD.
For each confirmed purchase, GOLDNEST VISION360 PVT LTD will transfer the metal to a secure vault managed under the supervision of an independent trustee, until:
Customers have the option to redeem and request physical delivery of full or partial accumulated gold/silver in the form of redeemable products offered on the Platform. Residual fractional gold/silver holdings after redemption or transfer can be sold back at the live sell-back price of 99.9% purity gold/silver. The value of the residual will be credited instantly to your GoldNest wallet.
You must pay the applicable making and delivery charges using your GoldNest wallet or other available payment instruments to complete the redemption.
Once the redemption is initiated and payment is confirmed, your gold/silver grams will be debited from your GAP (Gold Accumulation Plan) account accordingly.
GOLDNEST VISION360 PVT LTD may allow customers to sell back fractional gold/silver holdings during specific offer periods at the prevailing live sell-back price.
The live purchase and sell-back prices of gold/silver are displayed on the Platform and are subject to change. At the time of redemption or sell-back, the quantity and value will reflect the live sell-back price. These prices may differ from those in the open market or retail outlets.
Your offer to purchase or sell-back gold/silver may be rejected, even if the item has been wish-listed. In such cases, you may submit a new offer based on the updated price.
GOLDNEST VISION360 PVT LTD disclaims any liability arising out of non-acceptance of offers or changes in pricing.
While using any payment method on the Platform, GOLDNEST VISION360 PVT LTD shall not be responsible for any loss or damage arising due to:
GOLDNEST VISION360 PVT LTD may, at its sole discretion, set maximum limits for gold/silver accumulation or transfer and may refuse orders exceeding those limits.
Gold/silver stored in vaults or business deposits is non-transferable, unless specifically permitted by GOLDNEST VISION360 PVT LTD.
In the event of death or legal incapacity, gold/silver holdings and any advance balance may be transferred to the legal heir(s) upon successful due diligence. The heir(s) will be registered as the new user(s) of the account.
Redemption is only possible within serviceable PIN codes. Customers must provide a complete and accurate delivery address at the time of redemption.
All redeemable products will be delivered within India, through authorized logistics partners. Deliveries will be made on a best-effort basis. While GOLDNEST VISION360 PVT LTD will aim to deliver within the estimated time, it disclaims any liability for delays.
The logistics partner will make three delivery attempts. If unsuccessful, the gold/silver will be returned to GOLDNEST VISION360 PVT LTD and the customer must place a new redemption request.
GOLDNEST VISION360 PVT LTD shall not be liable for any losses resulting from technical issues on the Platform or actions/inactions not attributable to GoldNest.
Notwithstanding anything contrary contained herein, the service, the interface and API work, and their respective information, pricing and data, and availability are subject at any time and from time to time to human, mechanical, typographic, or other errors, oversights, mistakes, limitations, delays, service interruptions, including, without limitation, as may be due in whole or in part to, related to or arising out of (i) computer hardware and software, telecommunication and operating systems, databases, or business processes and procedures, other problems inherent in, or which may be associated with, the use of the internet and electronic communications including, without limitation, force majeure event, government / regulatory actions, orders, notifications etc. and / or acts and omissions of third parties etc. affecting or impacting the service, the interface or the API work, its information and data, or such communications. Customer acknowledges and agrees that GOLDNEST VISION360 PVT LTD is not responsible or liable whatsoever for delays, failures, or other loss due to, caused by or resulting from any such problems, in whole or in part. If your GAP account is over-credited or wrongfully credited / debited, then GOLDNEST VISION360 PVT LTD has the right to reverse / cancel without notice or require cancellation / reversal of such transaction at its sole discretion and debit / credit the gold/silver to / from your GAP account, as the case may be. GOLDNEST VISION360 PVT LTD shall not be liable for any wrong transfer of Gold/silver by you to another GAP account (including but not limited to transfer to a different user / customer etc.) and the gold/silver grams shall not be reversed to you in case of an erroneous transfer and / or in case the transferee has already transacted the Gold/silver transferred.
Upon GOLDNEST VISION360 PVT LTD confirming the purchase, redemption, sale-back of Gold/silver in his / her GAP account by Customer, the order / request of Customer to purchase / redemption / sale-back / transfer, as the case may be, shall be binding on the Customer and cannot be cancelled.
The Customer shall inform immediately, in any case no later than [30] days of the transaction, of any irregularities or discrepancies that may exist in his/her GAP account, failing which it shall be deemed that there is no error or discrepancies in the GAP account. All records maintained by GOLDNEST VISION360 PVT LTD, in electronic or documentary form of the instructions of the Customer and such other details (including, but not limited to payments made or received) pursuant to the Terms, shall as against the Customer, be deemed to be conclusive evidence of such instructions.
The Customer understands and acknowledges that any purchase, redemption, sale-back or transfer from / to GAP account will be on instructions received by the Customer, and the Customer will not violate any applicable laws or regulations for the time being in force in or outside India. The Customer shall be responsible for complying with applicable laws in respect of purchase, redemption, sale-back to and from the GAP account including but not limited to the Prevention of Money Laundering Act, 2002, the Prohibition of Benami Property Transactions Act, 1988, Income Tax Act, 1961 etc including amendment thereof. Customer also agrees and undertakes that he /she will not open any account/GAP account in the name of any minor. GOLDNEST VISION360 PVT LTD will not be liable in any manner in this regard. The Customer feedbacks pertaining to products shall be deemed to be non-confidential and non-compensatory in nature. GOLDNEST VISION360 PVT LTD reserves the right, at its sole discretion to use such information for its internal purposes.
In the event of termination / expiry of GOLDNEST VISION360 PVT LTD arrangement with GOLDNEST or otherwise at any point of time, GOLDNEST VISION360 PVT LTD and/or GOLDNEST may notify You to sell back Your Gold/silver balance to GOLDNEST VISION360 PVT LTD or migrate Your GAP account to an alternative platform and continue with GAP account on such alternative platform (as decided by GOLDNEST VISION360 PVT LTD).
These Terms shall be governed by and interpreted and construed in accordance with the laws of India. The courts in Mumbai shall have exclusive jurisdiction in respect of any matters arising therefrom.
In the event any dispute arises out of or in connection with the Terms herein, including the validity hereof, the parties hereto shall endeavor to settle such dispute amicably in the first instance. The attempt to bring about an amicable settlement shall be treated as having failed as soon as one of the parties hereto, after reasonable attempts, which shall continue for not less than 15 (Fifteen) calendar days, gives a notice to this effect, to the other party in writing.
Waiver: Any failure or delay by GOLDNEST VISION360 PVT LTD to enforce or exercise any provision of these Terms, or any related right, shall not constitute a waiver by GOLDNEST VISION360 PVT LTD of that provision or right. The exercise of one or more of GOLDNEST VISION360 PVT LTD rights hereunder shall not be a waiver of, or preclude the exercise of, any rights or remedies available to GOLDNEST VISION360 PVT LTD under these Terms or in law or at equity. Any waiver of any provision shall only be effective if made in writing and executed by a duly authorized officer of GOLDNEST VISION360 PVT LTD.
Force Majeure: If performance under these Terms by GOLDNEST VISION360 PVT LTD is prevented, restricted, delayed or interfered with by reason of labor disputes, strikes, acts of God, floods, lightning, severe weather, shortages of materials, rationing, inducement of any virus, Trojan or other disruptive mechanisms, any event of hacking or illegal usage of the Platform, utility or communication failures, earthquakes, war, revolution, acts of terrorism, civil commotion, acts of public enemies, blockade, embargo or any law, order, proclamation, regulation, ordinance, demand or requirement having legal effect of any government or any judicial authority or representative of any such government, or any other act whatsoever, whether similar or dissimilar to those referred to in this clause, which are beyond the reasonable control of GOLDNEST VISION360 PVT LTD and could not have been prevented by reasonable precautions, then GOLDNEST VISION360 PVT LTD shall be excused and discharged from such performance to the extent of and during the period of such force majeure event, and such non-performance shall, in no manner whatsoever, amount to a breach by GOLDNEST VISION360 PVT LTD of its obligations herein.
Absence of relationship: You represent and warrant to GOLDNEST VISION360 PVT LTD that You have sufficient experience and knowledge to make informed decisions to purchase/redeem/sale-back Gold or Silver/Redeemable Products. You acknowledge that You are making all of Your own decisions in connection with purchases or redemption or sale-back and that You have not relied on any information made available by GOLDNEST VISION360 PVT LTD, and that GOLDNEST VISION360 PVT LTD is not making any recommendation with respect to such purchases/redemption/sale-back of Gold/Silver redeemable products. No relationship other than seller-purchaser, including, without limitation, any agent-principal relationship, any advisor-advisee relationship, any employee-employer relationship, any franchisee-franchisor relationship, any joint venture relationship or any GOLDNESTship relationship, exists between You and GOLDNEST VISION360 PVT LTD. Further, these Terms do not constitute any agent-principal relationship, any advisor-advisee relationship, any employee-employer relationship, any franchisee-franchisor relationship, any joint venture relationship or any GOLDNESTship relationship between You and GOLDNEST VISION360 PVT LTD.
Electronic Order Risks: 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. You acknowledge that the order entry system is an electronic mechanical system and as such may be subject to failure beyond the control of GOLDNEST VISION360 PVT LTD. Therefore, GOLDNEST VISION360 PVT LTD shall not be responsible for errors, negligence, inability to execute orders, delays in transmission, delivery or execution of order due to breakdown or failure of transmission or communication facilities, or to any other cause beyond GOLDNEST VISION360 PVT LTD's control or anticipation. You acknowledge that pricing or typographical errors may occur and that therefore, in the event that a product is listed at an incorrect price or with incorrect information due to an error in pricing or product information, GOLDNEST VISION360 PVT LTD reserves the right, at its sole discretion, to refuse or cancel or reject any orders placed for the products. Furthermore, GOLDNEST VISION360 PVT LTD reserves the right to deny, refuse or cancel or reject any orders placed in case of market volatility and/or unusual circumstances or conditions. This includes, without limitation, unexpected unavailability of product/Gold or Silver.
Customer responsibility for taxes, tariffs and duties: You acknowledge that You are solely responsible for all taxes, tariffs and duties that may be incurred as a result of purchase/redemption of Gold or Silver/redeemable products. GOLDNEST VISION360 PVT LTD will only collect taxes, tariffs and duties on transactions to the extent explicitly required by law. It is Your responsibility to be aware and properly address any taxes, tariffs and duties to which You may be subject by any local, state and/or federal governments. If You have any questions about taxes, tariffs and duties, You should consult a tax or other professional about Your unique circumstances. GOLDNEST VISION360 PVT LTD does not represent to provide advice or recommendations about Your specific taxes, tariffs and duties and any statements made by us are only for the purpose of raising issues for You to discuss with Your tax or other professional.
Indemnification: Customer hereby agrees to indemnify and keep GOLDNEST indemnified from and against all actions, claims, demands, proceedings, losses, damages, personal injury, costs, charges and expenses, directly or indirectly, whatsoever ('Losses') which GOLDNEST or its employees, agents, workers or representatives may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of:
Without prejudice to the foregoing, GOLDNEST shall be under no liability whatsoever to the Customer in respect of any loss or damage arising directly or indirectly out of: (i) Effecting transaction based on instructions received from Customers, (ii) The instruction of a Customer to transfer Gold/Silver from his/her GAP to another GAP, (iii) The exercise by GOLDNEST VISION360 PVT LTD of its right to terminate/exercise the facility/services provided on the Platform, (iv) Any injury to the credit, character and reputation of the Customer due to use of facility/services on the Platform, (v) Any misstatement, misrepresentation, error or omission in any details disclosed by GOLDNEST if it receives any process, summons, order, injunction, execution distrait, levy lien, information or notice which GOLDNEST in good faith believes/calls into question the Customer's ability, or the ability of someone purporting to be authorized by the Customer, to make the transfer.
GOLDNEST VISION360 PVT LTD may, at its option and without liability to the Customer or such other person, decline to allow the Customer to obtain any portion of his gold/silver product, or may hand over such gold/silver product to an appropriate authority and take any other steps required by applicable law.
GOLDNEST does not make any representations, recommendations, projections, warranties or guarantees of any kind, either expressed or implied, as to the performance of the Gold/Silver/Redeemable Products with respect to future prices or any return on investment. GOLDNEST will not be liable to any Customer (including but not limited to Transferee) for any losses caused by or relating to transfer/deposit of Gold/Silver to GAP account of any other Customer. GOLDNEST explicitly urges all its Customers to inspect the package with the gold/silver product ("Package") for any damage or tampering before receiving or signing for receipt. Any complaint/issue with respect to the quantity, make, quality etc., of the product/gold/silver product delivered to a Customer(s) must be raised by the Customer(s) within a period of 7 days from the date of delivery. GOLDNEST VISION360 PVT LTD will not be liable for any loss or damage caused if the Customer accepts the Package in spite of it being damaged or tampered. If You find any tampering, do not accept the Package and return the same. The duty to verify the Package for any damages or tampering is of the Customer and if the Customer accepts the Package and later comes to know of any damage or tampering, GOLDNEST VISION360 PVT LTD shall not be liable for any loss or damage to the Customer. If such loss is later reported and approved by logistics partner and insurance company, the limit of liability shall be restricted to the amount paid by the logistic partner for such loss or damage in transit as per their terms and conditions and the same shall be binding upon the Customer.
You acknowledge that GOLDNEST will not be liable to You or any other person for indirect, consequential, special, incidental, punitive, or exemplary damages, including, without limitation, lost profits, lost savings and lost revenues (collectively, the "excluded damages"), whether or not characterized in negligence, tort, contract, or other theory of liability. In no event will GOLDNEST or any of its directors, employees total liability to You for all damages, losses, liabilities and causes of action under these Terms and the facility/services provided by GOLDNEST collectively exceed total amount paid by You, if any, for access to that particular products or services. The foregoing limitation of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.
You expressly agree that use of the Platform is at your sole risk. While we/GOLDNEST will take all reasonable precautions to ensure uninterrupted and error-free operations, your access and use of the Platform is at your sole risk. The service is provided on an "as is" and "as available" basis. We/GOLDNEST and our licensors, suppliers, vendors, parent, holding, subsidiary and related companies, affiliates, officers, agents and employees expressly disclaim all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and noninfringement.
In no event shall GOLDNEST VISION360 PVT LTD be liable for any direct, indirect, incidental, special, punitive, consequential damages, or any damages whatsoever, including, but not limited to, damages for loss of profits, goodwill, use, data, or other intangible losses resulting from:
You declare that You are an individual not having registration and neither required to take registration under Central Goods and Service Tax Act 2017, State Goods and Service Tax Act 2017, Integrated Goods and Service Tax Act 2017 and Union Territory Goods and Service Tax Act 2017.
You declare that gold/silver You are selling was previously owned by You for personal use.
You declare that You are not an unregistered dealer of gold and silver or any other precious metal ornament or any related product.
If there has been any misrepresentation by You, You would be solely responsible for all types of tax, interest and penalty due to the government at any given point of time.
Except where noted otherwise, the prices displayed for products on the Platform represent the value of the respective product. For certain transactions, you shall bear fees and charges in addition to payment for prices displayed on the Platform. Such additional fees and charges shall be as are stated on the Platform. Please pay attention to the details of your transactions, because your total price for a transaction may include taxes, fees and shipping costs, which you are responsible for paying.
Upon transfer of Gold/Silver from a Customer, if recipient Customer already has an existing Gold Accumulation Plan Account (GAP) with GOLDNEST VISION360 PVT LTD, Gold/Silver will be credited in such account, otherwise a new GAP account will be created for such recipient Customer. Such GAP account would be created in recipient Customer name as per recipient Customer details available with GOLDNEST VISION360 PVT LTD. Transfer is subject to profile completion. Upon successful creation of account of recipient Customer, the transferred Gold/Silver shall be credited to such account. GAP accounts are offered, created, operated and maintained by GOLDNEST VISION360 PVT LTD.