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Terms & Conditions

AUREL METALS FZCO

General Terms & Conditions

Precious Metals Trading

DMCC License No.: DMCC-990273
Office: Saba 1 Tower, Cluster E, JLT, Dubai, UAE
Phone: +971 4 572 9340
Email: office@aurelmetals.ae

1. DEFINITIONS

1.1 “Company” refers to Aurel Metals FZCO, a company registered with the Dubai Multi Commodities Centre (DMCC).
1.2 “Client” refers to any individual or entity engaging in trading activities with the Company.
1.3 “Products” include precious metals such as, but not limited to, gold bars, bullion, grains, scrap, and related materials.
1.4 “Agreement” refers to these General Terms & Conditions together with any applicable trade confirmations, purchase orders, invoices, communications, or annexures.

2. COMPANY DETAILS

Aurel Metals FZCO
DMCC License No.: DMCC-990273
Saba 1 Tower, Cluster E, JLT
Dubai, United Arab Emirates
Email: office@aurelmetals.ae

3. GENERAL PROVISIONS

3.1 All transactions and activities are governed by DMCC Rules & Regulations, applicable UAE Federal Laws, and Anti-Money Laundering (AML) requirements.
3.2 These Terms & Conditions apply to all transactions unless a separate written agreement, duly signed by both parties, is in effect.
3.3 The Company reserves the right to amend these Terms & Conditions at any time. Any amendments shall apply to future transactions only.

4. KNOW YOUR CUSTOMER (KYC) & COMPLIANCE

4.1 The Client must complete the Company’s KYC onboarding process and submit all required documentation prior to engaging in any transaction.
4.2 The Company may request additional information or documentation at any time to meet compliance and regulatory obligations.
4.3 Failure to provide satisfactory documentation may result in delays, suspension, or refusal of transactions.
4.4 The Client represents and warrants that all funds, products, and transactions are lawful, legitimate, and not connected to sanctioned individuals, entities, or illicit activities.

5. PRODUCTS & ASSAY

5.1 All trades are conducted based on agreed specifications, including purity, weight, and form.
5.2 Where required, assays shall be conducted by an accredited refinery or laboratory appointed by the Company.
5.3 The refinery’s official assay and outturn results shall be final and binding unless otherwise agreed in writing.

6. ORDER CONFIRMATION & EXECUTION

6.1 A transaction shall be deemed confirmed only upon issuance of an official Trade Confirmation by Aurel Metals FZCO.
6.2 Any quotation, market indication, or price discussion shall be non-binding until formally confirmed.
6.3 Execution of trades outside normal business hours is subject to prior coordination and Company approval.

7. PAYMENT TERMS

7.1 All payments must be made via bank transfer from the Client’s own registered bank account.
7.2 Third-party payments, anonymous transfers, or funds originating from unrelated entities are strictly prohibited.

7.3 Cash Transactions

  • Cash payments are strongly discouraged and accepted only in exceptional and justified circumstances.

  • Any approved cash transaction must be fully declared, reported, and attested in accordance with DMCC and UAE AML regulations.

  • The Client must submit a valid Source of Funds Declaration and any additional compliance documentation requested.

  • Cash payments lacking proper verification, declaration, or regulatory reporting shall be automatically rejected.

7.4 Payments must be completed on or before the agreed value date. Any delay may result in holding fees, interest charges, or cancellation of the trade at the Client’s expense.
7.5 All local and international bank charges, administrative fees, and correspondent banking costs shall be borne by the Client.

8. PRICE FIXING

8.1 Prices shall be fixed based on prevailing live market rates (e.g., Loco Dubai or Loco London) at the time of trade confirmation.
8.2 Once the price is fixed and the trade is confirmed, no amendments, cancellations, or reversals shall be permitted.
8.3 Any market exposure arising from the Client’s delay or failure to settle shall be fully charged to the Client.

9. DELIVERY TERMS

9.1 Delivery, collection, or shipment shall be executed in accordance with the INCOTERMS agreed at the time of trade confirmation.
9.2 Risk shall transfer to the Client upon delivery, collection, or handover of the goods as agreed.
9.3 Unless otherwise agreed in writing, all customs duties, insurance, storage, logistics, and clearance costs shall be borne by the Client.

10. REFINING & PROCESSING CHARGES

10.1 Where the Client supplies materials for refining, all refining and processing charges shall be borne by the Client.
10.2 Any additional costs arising during refining—including, but not limited to, foreign objects, tungsten, contaminants, impurities, or non-precious materials—shall be fully charged to the Client.
10.3 Final settlement and outturn shall be based on the refinery’s official and certified report.

11. LIABILITY & INDEMNITY

11.1 The Company shall not be liable for losses arising from market fluctuations, price movements, logistical delays, or circumstances beyond its reasonable control.
11.2 The Client agrees to indemnify and hold Aurel Metals FZCO harmless from any losses, claims, or liabilities arising from:

  • False declarations or misrepresentation

  • Regulatory or legal non-compliance

  • Fraudulent or unlawful activities

  • Breach of these Terms & Conditions

  • Failure to provide accurate or complete documentation

12. TERMINATION

12.1 The Company reserves the right to suspend or terminate its relationship with the Client without prior notice in the event of:

  • Non-compliance with KYC or regulatory requirements

  • Detection of suspicious or prohibited activities

  • Delayed, incomplete, or unverifiable payments

  • Fraud, misconduct, or regulatory breaches

12.2 Upon termination, the Client shall immediately settle all outstanding obligations, fees, and charges.

13. GOVERNING LAW & JURISDICTION

This Agreement shall be governed by and construed in accordance with:

  • DMCC Rules & Regulations

  • UAE Federal Laws

  • The exclusive jurisdiction of the Dubai Courts

14. ACCEPTANCE

By engaging in any transaction with Aurel Metals FZCO, the Client confirms that they have read, understood, and irrevocably agreed to these General Terms & Conditions.

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