• Change of name - Supporting legal documents stating both the new and the old names such as marriage certificate, new passport / driving license with affixed  photographs
• Change of residential Address: Two copies of your recent utility bills showing your new residential address (no longer than three months old)
• Copy of your bank account from which you intend to transact with GPMT showing your new address

You accept that the above procedures are for reasons of protecting yourself from identity fraud and safeguarding your transactions with GPMT. Accordingly, by following the above procedures, you confirm that GPMT has fulfilled its duty of care with regard to your request for any amendment and is entitled to charge reasonable administrative costs.

It is your responsibility to keep your contact details up to date via the GPMT website and GPMT is entitled to rely on the accuracy of the information that you have provided.  Any time you provide GPMT with new contact details, GPMT shall notify you by email or if your email itself has been changed, emails to both your old and new emails and request you to confirm the changes.  Failure to maintain your contact details correctly may result in loss or costs to your account or GPMT. You therefore accept to indemnify and keep indemnified GPMT against losses which may arise out of not maintaining your correct contact details with GPMT. 

Should you forget your password, pin number or login name, by following the online recovery procedures on GPMT site, you will be able to set a new password and pin number. In case you are not able to do so, you must contact GPMT by telephone. 

Whenever you reset your password GPMT shall send you an email notifying you that you have changed your account password.

and tradable at the prevailing spot price. You accept that if you choose to take delivery or remove your Metals from the custody of Standard Bank, this warranty shall be deemed as expired.

You agree that upon confirmation of purchase, your Metals shall become your entrustment property under custodianship of Standard Bank. The custodianship of all or parts of your Metals shall be terminated when you sell, take delivery or entrust custodianship to another organization. 

You agree that your instruction for change of custodianship can only be implemented via GPMT and is subject to:

a.     Full payments of all outstanding amounts in your GPMT account

b.    Minimum deliverable quantity

c.     Payment of delivery and insurance charges  

Your online orders for the sale or purchase of Metals shall be implemented as follows:

1.     Your account administrator shall first review your order to make sure  your order has been correctly placed via a valid and active account using the correct security information and that you have sufficient funds or Metals available to carry out your request;

2.     Subject to 23.1 above, your account administrator shall execute your order and your account will be adjusted accordingly.  This shall be confirmed by email and via our secure on-line messaging system. 

3.     The confirmation message shall contain the following information:

a.     prevailing spot market price at the time of the execution of your order

b.    exact date and time when your order was executed

c.     exact price of your deal

d.    exact quantity of your deal

e.     GPMT commission amount

f.     finance (if any) and the rate of interest

Due to the necessity of your orders being reviewed by our account administrators there shall always be a delay in execution of your orders.  In the intervening times, the spot market price may have moved from the price on which any of your orders were placed.  You acknowledge the inevitability of these delays, and authorize GPMT to execute your orders within and no longer than 24 hours from the time that the order is placed. 

You agree and authorize GPMT to execute your order at the spot market price provided that at the time of execution:

a.     the spot market price is within and no more or less than 2.5% of the price of your order;

b.    there are sufficient funds, credit or Metals available in your account to cover any possible additional purchasing costs within 2.5% above your stated order price. 

24.  Risk Disclosure

1.     You acknowledge that you have read and understood both the Risk Disclosure Statement as well as these Conditions

2.     You acknowledge that you have read and understood the help sections of GPMT and having utilized your initial Practice Account (made available to you at the time of your registration), you are competent to utilize the online trading facilities of GPMT

3.     You agree that when you place online orders to buy any Metals at the spot price with immediate effect, by the time that your order is implemented, the spot price of that Metal may have moved above or below the price at the time of your order. Nevertheless, you acknowledge that you have authorized GPMT to implement your order up to 2% increased in the spot price of such Metals

4.     You agree that when you place online orders to sell any Metals at the spot price with immediate effect, by the time that your order is implemented, the spot price of that Metal may have moved above or below the price at the time of your order. Nevertheless, you acknowledge that you have authorized GPMT to implement your order up to 2% decreased in the spot price of that Metal

Furthermore, you acknowledge that you have read, understood and accepted the risks outlined in condition 25 which GPMT considers to be some, but not all, of the material risks in the business of trading Metals.  You acknowledge and assume these risks as part of entering into Transactions. 

1.  Price movements. Precious Metals like all other commodities are exposed to rapid price movements. Therefore, at the time of sale, you are exposed to a potential loss arising from falling price of the Metal that you may have purchased.

2. Policy legislation.  Governments for many reasons including taxation and currency      stability might introduce laws affecting value, trade and ownership of your Metals.

3. Bank insolvency. GPMT operates a segregated clients’ bank account with the Royal Bank of Scotland (RBS). RBS is a highly rated state owned bank that is currently owned by the British government. However all banks are subject to possible failure.

4. Identity theft.  GPMT has implemented the following security measures to protect against identity theft and prevent unauthorized access to your account:

a. Login name. At time of registration, you can choose your Login name to be different from your real name and change it as you wish. It is your responsibility to keep your Login name confidential to yourself;

b. Password.  You have to choose a secret Password with a minimum of 6 letters and change it as you wish. It is your responsibility to keep your Password confidential and not disclose it to third parties;

c. Initial access to your account is only possible by insertion of the correct combination of both your Login name as well as your Password;

d. Secret question. At the time of registration, you have chosen a secret question, the answer to which should only remain known to yourself. By correct answer to this question, you are able to change or recover your forgotten Password or Login name;

e. Pin number. In addition to the above measures, your identity and account is also protected by a 4 digit Pin number that you can choose, change and are responsible to protect. Without the insertion of the correct Pin number, is not possible to change your profile or execute any transaction in your account;

f. Limited transactions. Transactions on your account are limited to the following three activities: 1. Order to Purchase. 2. Order to sell. 3. Order to transfer your funds back to your registered bank account. Orders to purchase or to sell can only be placed by you or someone who not only has accessed your account, but also knows your Login, Password and pin number. Although this possibility is rare, it may happen, but loss to your account may only be limited to:

·         In the case of fraudulent order to purchase: As soon as the falsified order is discovered, the purchased precious Metals can be sold. Therefore your loss shall be limited to the possible fall in the price of the purchase Metal

·         In the case of fraudulent order to sell: As soon as the falsified order is discovered, the sold precious Metals can be repurchased. Therefore your loss shall be limited to the possible rise in the price of the purchase Metal

The above two possible losses may be recoverable from your own insurance policies which we recommend that you arrange.  .

·         In the case of Order to transfer funds: Transfer of your funds from GPMT can only be made to your own registered bank account. Therefore, except for the bank transfer or exchange of currency charges, you shall not suffer any other loss.

5. Communication failure. GPMT uses up to date computer and communication systems, but there is always a risk that due to a variety of reasons, including, but not limited to, internet or telephone interruptions, computer and server breakdowns, you are unable to access your account and place your order for periods of time. You accept that any loss due to not being able to place and execute your order is not a GPMT responsibility. 

26.  Risks which are a GPMT UK responsibility 

GPMT accepts its duty of care with regard to the following risks in relation to your Metals and undertakes to use best efforts to contain them at minimal levels.

Theft of your precious Metals — GPMT undertakes to make sure that while your physical precious Metals are in the custody of Standard Bank, they are covered by sufficient insurance.

Theft of your funds — All outward transactions related to your funds in the GPMT client account require approval of two senior officers of GPMT. GPMT undertakes to make sure that this requirement is always enforced and accept liability if you suffer any loss due to theft from your account with GPMT.

Prevention of data loss — GPMT undertakes to use the best customary business practices, methods and machinery in relation to safeguarding you data in electronic form. However it is conceivable that despite all protection and prevention measures, all or part of your data may be lost. For this reason, GPMT undertakes to forward copies of all your trading and communication data by email and also by the messaging system of the GPMT site to you for safe keeping. You hereby agree to keep these data in both electronic as well as paper form and if required, forward a copy to GPMT.

In the event of your death, GPMT undertakes to process your account in accordance with your will, the due process of law under the appropriate jurisdiction and instructions of the legally appointed executors of your estate.  

GPMT charges 1.5% (exclusive of Value Added Tax or any other applicable taxes or charges) commission on the total value of each Transaction. This amount shall normally be added to your outstanding finance or deducted from your cash reserve.  In the event that neither is possible, you will be notified and asked to settle GPMT commission within 7 working days by injection of cash or disposal of sufficient amount of your Metals. Should the commission remain outstanding after the notice period, GPMT has the right to sell sufficient amount of your holding to settle any outstanding amounts owed to it by you.  In addition, should any amount remain outstanding for longer than 7 working days GPMT reserves the right to charge interest on such amount at the rate of 4% above the base rate of Royal Bank of Scotland calculated from the date payment fell due until the date of actual payment (or such lesser amount as is the maximum rate permissible by law). 

The GPMT online trading system is programmed to accept round the clock orders for purchasing or selling precious Metals. However, the orders shall only be executed Monday to Friday from 09.00 to 21.00 (UK time). 

You accept that from time to time, there may also be planned or unplanned service interruptions for maintenance or other urgent actions. GPMT shall endeavor, if possible, to keep you informed via email or other means of these interruptions. However, due to the kind of system interruption or shortage of time, it may not be possible to keep you informed.

You accept that these types of interruptions are unavoidable and GPMT is not liable for any loss you may suffer during these interruptions.

GPMT, is a UK registered limited liability company and subject to English Law., GPMT’s deposit taking activities do not require it to be registered with the Financial Services Authority as any cash advances received from GPMT clients are solely referable to clients’ Metals purchases.  GPMT’s services are not classed as regulated pursuant to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001.

GPMT is not authorized by the FSA to take deposits from clients if their deposits are not referable to specific Metals purchases.

In the event of any administrative errors in your account GPMT is entitled to and shall make any necessary corrections after the event without any time limitation and including once your account has been closed.

You accept that neither GPMT nor you have the right to make profits from GPMT trading system failures.  The GPMT trading procedures are in place to prevent clear trading errors. However the effectiveness of our procedures in some respects such as, but not limited to, accuracy of spot prices and currency data is out of GPMT reasonable control. In the event of any resulting mistakes in this way, you accept that GPMT is entitled to make corrective and reasonable adjustments after the error is discovered and without limitation in time.

33.1      Please note that conditions 33.2 and 33.4 only apply to you if you are contracting with GPMT in the course of a business and condition 33.5 only applies to you if you are contracting with GPMT as a consumer.  Subject to the afore-going this clause 33 sets out the entire financial liability of GPMT (including any liability for the acts or omissions of its employees, agents, consultants, and subcontractors) to you in respect of:

(a) any breach of contract including any deliberate breach of contract by GPMT, or its employees, agents or subcontractors or otherwise any breach of these Conditions;

(b) any use made by you of the services offered by GPMT; and

(c) any representation, statement or tortuous act or omission (including negligence) arising under or in connection with a Transaction.

33.2      Please note that this clause 33.2 only applies to you if you are dealing with us in the course of a business.  All warranties, conditions and other terms implied by statute or common law are, to the fullest extent permitted by law, excluded from the Agreement.

33.3      Nothing in these Conditions limits or excludes the liability of GPMT (whether dealing with you in the course of a business or as a consumer):

(a) for death or personal injury resulting from negligence; or

(b) for any damage or liability incurred by you as a result of fraud or fraudulent misrepresentation by GPMT; or

(c) for anything that may not be lawfully excluded by law

33.4      Please note that this clause 33.4 only applies to you if you are dealing with us in the course of a business.  Subject to condition 33.3:

(a) GPMT shall not be liable for:

(i) loss of profits; or

(ii) loss of business; or

(iii) depletion of goodwill and/or similar losses; or

(iv) loss of anticipated savings; or

(v) a fall in value of your Metals, currency depreciation or otherwise loss of goods; or

(vi) loss of contract; or

(vii) loss of use; or

(viii) loss of corruption of data or information; or

(ix) any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses.

(b) GPMT's total liability in contract, tort (including negligence or breach of statutory duty), misrepresentation, restitution or otherwise arising in connection with the performance, or contemplated performance, of a Contract shall be limited to the value of the commission received by GPMT in relation to the relevant Contract. 

33.5   Please note that this clause 33.5 only applies to you if you are dealing with GPMT other than in the course of a business (i.e.: as a consumer).  You hereby acknowledge and agree that subject to condition 33.3: 

(a)  due to the nature of the services offered by GPMT, subject to these Conditions, the services may be commenced as soon as we receive instruction regarding a Transaction and in any event will be commenced within 24 hours of your order.  Therefore, you hereby acknowledge and agree to waive the right you may have as a consumer under the Consumer Protection (Distance Selling) Regulations 2000 to cancel the contract formed between us up to seven days after contract formation; 

(b)  your engaging in Transactions requires particular expertise and knowledge and entails certain risks of loss (some of which are specifically mentioned in this Agreement, including but not limited to fluctuation in the prices of Metals).  Accordingly, by entering into Transactions you agree to undertake such risks of loss in relation to your Transactions and/or to insure accordingly against such losses as you may require; 

(c)  there may be instances where GPMT is unable to provide the services under the Contract and in such circumstances GPMT may not be able to execute Transactions including (but not limited to) you supplying incorrect or incomplete information or identification documents, GPMT’s system failure, suspected or actual security breaches or any of the events mentioned under condition 37.  In such circumstances you will be informed as soon as possible and our liability shall be limited to refund of any commission paid by you to us in respect of any orders we are unable to proceed with; 

(d)  GPMT may reject any order (to buy or sell Metals) at any point prior to execution of the Transaction and for any reason whatsoever if in its sole discretion it is deemed necessary or prudent to do so and in such event GPMT’s liability shall be limited to refund of any commission paid by you to it in respect of such rejected order; 

(e) GPMT shall not be liable for:

(i) loss of profits; or

(ii) loss of business; or

(iii) depletion of goodwill and/or similar losses; or

(iv) loss of anticipated savings; or

(v) a fall in value of your Metals, currency depreciation or other loss of goods; or

(vi) loss of contract; or

(vii) loss of use; or

(viii) loss of corruption of data or information; or

(ix) any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses.

(f)  GPMT’s total liability to you in contract, tort (including negligence or breach of statutory duty) misrepresentation, restitution or otherwise arising in connection with the performance or contemplated performance of a Contract shall be limited to three times the value of the commission received by GPMT in relation to the relevant Agreement; and 

(g)  the limitations in this clause 33.5 are fair and reasonable given the level of the commission fee payable to GPMT and that GPMT is merely acting as broker in Transactions.

34.1    Without prejudice to any other rights or remedies which we may have, GPMT may terminate the Agreement and close any open trading positions without liability to you immediately on giving notice to you if: 

(a) you fail to pay any amount due under a Transaction or Agreement on the due date for payment and remain in default not less than seven days after being notified in writing to make such payment; or 

(b) you commit a breach of any of the terms of the Agreement and (if such a breach is remediable) fail to remedy that breach within 30 days of you being notified in writing of the breach; or

(c) you repeatedly breach any of the terms of the Agreement in such a manner as to reasonably justify the opinion that your conduct is inconsistent with it having the intention or ability to give effect to the terms of the Agreement; or 

(d) you suspend, or threaten to suspend, payment of its debts or are unable to pay your debts as they fall due or admit inability to pay your debts or (being a company) is deemed unable to pay its debts within the meaning of section 123 of the Insolvency Act 1986 or (being a natural person) is deemed either unable to pay its debts or as having no reasonable prospect of so doing, in either case, within the meaning of section 268 of the Insolvency Act 1986 or (being a partnership) has any partner to whom any of the foregoing apply; or 

(e) you commence negotiations with all or any class of your creditors with a view to rescheduling any of your debts, or make a proposal for or enters into any compromise or arrangement with your creditors; or 

(f) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or on connection with your winding up; 

(g) an application is made to court, or an order is made, for the appointment of an administrator or if a notice of intention to appoint an administrator is given or if an administrator is appointed over you; or

(h) a floating charge holder over your assets has become entitled to appoint or has appointed an administrative receiver; or

(i) a person becomes entitled to appoint a receiver over your assets or a receiver is appointed over your assets; or 

(j) a creditor or encumbrancer attaches or takes possession of, or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of your assets and such attachment or process is not discharged within 14 days; or

(k) any event occurs, or proceeding is taken, with respect to you in any jurisdiction to which you are subject that has an effect equivalent or similar to any of the events mentioned in condition 34(d) to condition 34.1 (j)  (inclusive); or

(l) you suspend or cease, or threaten to suspend or c ease, to carry on all or a substantial part of your business; or

(m) you suffer a change of control (as defined in section 574 of the Capital Allowances Act 2001).

34.2      We acknowledge and agree that any breach of conditions 2, 5-8, 13, 16, 18, 34, and 38 shall constitute a material breach for the purposes of this condition 34.

34.3      On termination of the Agreement for any reason:

(a) you shall immediately pay to GPMT all of GPMT's outstanding unpaid invoices, commissions and interest and, in respect of trading services supplied but for which no invoice has been submitted, GPMT may submit an invoice, which shall be payable immediately on receipt; 

(b) our accrued rights and liabilities as at termination and the continuation of any provision expressly stated to survive or implicitly surviving termination, shall not be affected.

34.4      On termination of the Agreement (however arising), conditions 1, 2, 3, 4, 5, 9, 10, 13, 14, 18, 24, 25, 28, 33, 34, 40 and 41 shall survive and continue in full force and effect. 

Representations and warranties are personal statements, assurances or undertakings given by you to us on which we rely when we deal with you. You make the following representations and warranties at the time you become a GPMT client and every time you place a Transaction or any other instruction:

(a) all information that you supply to us (whether during registration or otherwise) is true, accurate and not misleading in any material respect;

(b) if you are an individual, you are over 18 years old;

(c) except where we have agreed otherwise in writing, you act as principal and not any other person’s agent or other representative;

(d) you have obtained all necessary consents and have the authority to enter into Transactions and/or to place any instructions; 

(e) if you are a company or body corporate you are properly empowered and have obtained all necessary corporate or other authority under your memorandum and articles of association or other constitutional or organizational documents; 

(f) you are not accessing the Website and dealing with us from the USA;

(g) you agree that for the duration of this Agreement you will promptly notify us of any change to the details supplied by you on registration documents, including in particular moving to another country or territory or any change or anticipated change in your financial circumstances or employment status (including redundancy and/or unemployment) which may affect the basis on which we do business with you; and 

(h) You have the adequate financial expertise and the resources to understand and to comply with the Agreement. 

36.        Market Disruption and Events beyond the control of GPMT

37.1      You shall not, without the prior written consent of GPMT, assign, transfer, charge, mortgage, subcontract or deal in any manner with all or any of your rights or obligations under these Conditions or any Transaction. 

37.2      GPMT may at any time assign, transfer, charge, mortgage, subcontract or deal in any other manner with all or any of its rights under these Conditions or any Transaction and may subcontract or delegate in any manner any or all of its obligations under these Conditions or any Transaction to any third party or agent.

37.3      Each party that has rights under these Conditions or any Transaction is acting on its own behalf and not for the benefit of another person.

39.1      All communications between the parties about these Conditions or a Transaction shall be in writing and delivered by hand or sent by pre-paid first class post or sent by fax: