Distance Contract for the Purchase of Precious Metal Items

Definitions

Seller – a natural person of legal age who registers and sends items they own to Tavex for the purpose of selling them.

Tavex – SIA “TAVEX”, which tests the Items sent by the Seller and, after testing, makes a Purchase Offer to the Seller.

Item – an item owned by the Seller that the Seller registers and sends to Tavex for remote purchase. A purchase transaction is offered for the Item, or the part of it, in which gold of at least 375 fineness is found during testing. Gold powder, gold sand, gold grains and unrefined dental gold are not accepted for remote purchase. Items made of other precious metals are not purchased remotely.

Application – the precious metal purchase Application form completed on the Tavex website.

Indicative Price – the approximate value of the Item calculated by the calculator at the time the Application is completed, based on the fineness and approximate weight stated by the Seller and the gold market price current at that time. The Indicative Price is not a Purchase Offer binding on Tavex.

Purchase Offer – an offer made by Tavex to the Seller after testing the Item to purchase the Item at the price stated in the offer.

Service Fee – a one-time fee of EUR 2.00, paid during the Application process, which covers verification of the Seller’s identity and testing of the Items in one shipment, regardless of the number of Items in the shipment, the test result, or whether a purchase transaction is concluded after testing. The Service Fee is non-refundable.

Return Fee – a fee of EUR 3.00, charged only if the Seller chooses to receive the Item, an Item not containing gold, or the non-gold parts remaining after testing at the Omniva parcel locker selected in the Application.

Insured Envelope – packaging provided by Tavex for sending Items to Tavex via Omniva.

General Provisions

1. Remote purchase is intended for the sale to Tavex of gold items owned by natural persons.

2. Gold items with a total weight of at least 2 grams are accepted for remote purchase. At the same time, the total weight of the items may not exceed 50 grams.

3. The Seller confirms that the Items sent to Tavex are their personal property, that they have the right to dispose of them, and that their sale is not related to the Seller’s business or professional activity.

4. Tavex has the right to refuse to purchase an Item if there are reasonable doubts about the origin of the Item, the Seller’s right to dispose of it, the truthfulness of the information provided by the Seller, or in other cases provided for by law.

Submitting the Application and the Indicative Price

5. To apply for a remote purchase, the Seller completes the Application on the Tavex website.

6. In the Application calculator, the Seller enters the approximate weight and fineness of the Item.

7. The information on the weight and fineness of the Item stated in the Application is approximate. The exact weight and fineness of the Item are determined during testing by Tavex.

8. The Indicative Price shown in the calculator is calculated based on the gold market price current at the time the Application is completed.

9. The Indicative Price is not a Purchase Offer binding on Tavex and is not fixed at the time the Application is submitted.

10. The gold market price may rise or fall between the submission of the Application and the testing of the Item. After receiving the Items, Tavex determines their exact gold weight and fineness during testing. Only after testing is completed, based on the determined weight and fineness and the Tavex purchase price current at the time testing is completed, is a Purchase Offer made to the Seller. Therefore, the price stated in the Purchase Offer may be either higher or lower than the Indicative Price previously shown in the calculator.

11. In the Application, the Seller provides the information requested by Tavex, reviews this Contract and the Tavex Privacy Policy, and confirms their agreement to them.

Seller Identity Verification and Service Fee

12. Verification of the Seller’s identity is mandatory for a remote purchase transaction.

13. The Seller agrees that Tavex has the right to verify the Seller’s identity and the accuracy of the personal data provided in the Application. Personal data is processed in order to identify the Seller and make sure that they are acting on their own behalf, to prevent fraud and the sale of criminally obtained property, to fulfil obligations set out in law, and, in cases provided for by law, to declare the income paid to a natural person to the State Revenue Service.

14. Identity verification is carried out during the Application process when the Seller pays the Service Fee of EUR 2.00 using the online payment solution offered on the Tavex website. Identity verification is available to customers of Latvian credit institutions.

15. During identity verification, the identifying personal data provided by the Seller is compared with the payer information received during the online banking payment. At the same time, Tavex receives information about the bank account from which the Service Fee was paid.

16. If the personal data provided by the Seller does not match the information received during the online banking payment, identity verification is considered unsuccessful and the remote purchase process does not continue.

17. After completing the Application, the Seller is shown a notification that the Application has been received. To continue the remote purchase process and complete identity verification, the Seller must click the “Customer verification” button.

18. After clicking the “Customer verification” button, the Seller is redirected to the Tavex checkout page. The Seller must provide the information requested by Tavex, select delivery of the Insured Envelope intended for the purchase of jewellery, and pay the Service Fee of EUR 2.00, including VAT, using the online payment offered.

19. At checkout, the Seller must provide current and accurate information requested by Tavex, including e-mail address, first name, surname, phone number, personal identity number, country and declared place of residence, as well as the information needed to deliver the Insured Envelope. The Seller is responsible for the accuracy and currency of the data provided, as it is used to perform the Service. Notifications related to the delivery and receipt of the Omniva shipment are sent to the phone number provided by the Seller, while Tavex sends information related to the remote purchase process, including test results, the Purchase Offer and, where applicable, invoices, to the e-mail address provided.

20. The Service Fee of EUR 2.00 covers verification of the Seller’s identity and testing of the Items in one shipment from the Seller. Once paid, the Service Fee is non-refundable, including where the Seller withdraws the Application, does not complete the purchase process, the Item does not contain gold of at least 375 fineness, or the Seller does not accept the Purchase Offer made by Tavex.

21. If a purchase transaction is concluded, the Seller’s bank account confirmed during the verification process is used for payment for the Items sold.

Receiving the Insured Envelope and Sending the Items

22. After successful submission of the Application, identity verification and payment of the Service Fee, Tavex sends the Seller an Insured Envelope to the Omniva parcel locker selected in the Application.

23. Delivery of the Insured Envelope to the Omniva parcel locker selected by the Seller usually takes up to 3 business days. The actual delivery time depends on Omniva delivery times and parcel locker capacity, so Tavex cannot guarantee a specific delivery time.

24. In the Insured Envelope, the Seller receives the packaging needed to send the Items, a declaration of sale of personal gold, sending instructions and a return label prepared by Tavex.

25. Before sending the Items, the Seller must:

a) place the Items in the zip bag provided;

b) photograph the Items in the zip bag so that its contents can be identified, and keep the photograph until the transaction is fully completed. Taking the photograph is in the Seller’s interest and may be needed to prove the contents of the shipment in the event of its loss, damage or another insured event;

c) sign the declaration of sale of personal gold;

d) place the zip bag and the signed declaration in the Insured Envelope and seal it carefully.

26. The Seller drops off the prepared shipment at an Omniva parcel locker using the return label prepared by Tavex.

27. Receiving the Insured Envelope and sending the Items to Tavex in accordance with the procedure set out in the Contract is free of charge for the Seller.

28. If Tavex finds damage to the packaging of the received shipment, signs that may indicate interference by a third party, a discrepancy in the contents of the shipment, or other circumstances that may relate to an insured event, Tavex has the right to suspend processing of the shipment and ask the Seller to submit the photograph referred to in point 25(b).

29. If there are grounds to believe that the Item has been lost or damaged in transit, compensation for losses is handled in accordance with the carriage and insurance terms applicable to the specific shipment.

Testing of Items

30. After receiving the shipment, Tavex tests the Items to determine their actual composition, fineness and actual gold weight.

31. Tavex tests the Items and sends the Seller the test results and the Purchase Offer within one business day of receiving the shipment.

32. Tavex makes a video recording of the opening of the shipment and the testing of the Items.

33. The receipt and testing of the Items is captured on video surveillance so that, if necessary, the receipt and testing process can be reviewed. The video recording may also be used in the event of a disagreement or dispute.

34. During testing, Tavex has the right to:

a) inspect and weigh the received shipment;

b) open the shipment and record the weight of the Items received;

c) visually inspect the Items;

d) test the fineness and composition of the Item using chemical reagents or other suitable testing methods;

e) if necessary, cut, deform or otherwise mechanically process the Item;

f) remove large or small stones and other non-gold parts from the Item;

g) if necessary, repeat the fineness or composition test;

h) after testing, determine the actual gold weight after removing any non-gold parts, if the Item contains such parts, and record the test results.

Determination of the Purchase Price

40. After testing, Tavex determines the actual fineness of the Item and the actual gold weight after removing any non-gold parts, if the Item contains such parts.

41. The actual purchase price of the Item is calculated using the Tavex purchase price in effect at the time testing of the Item is completed, taking into account the fineness and actual gold weight determined during testing.

42. The Tavex purchase price is set based on the current gold market price and the price spread applied by Tavex relative to that market price.

43. As the gold market price may change between the submission of the Application and the testing of the Item, the price stated in the Purchase Offer may be either higher or lower than the Indicative Price shown in the calculator when the Application was submitted.

44. After testing, Tavex sends the test results and the Purchase Offer to the e-mail address provided by the Seller in the Application.

45. The Purchase Offer is valid for 24 hours from the time it is sent.

46. If the Seller does not accept the Purchase Offer within 24 hours of it being sent, the Purchase Offer expires.

47. The Seller accepts the Purchase Offer in the manner specified by Tavex.

48. The Seller may accept the Purchase Offer in full or, if the Purchase Offer has been prepared for several separate Items, only for one or more of them. The return procedure set out in the Contract applies to Items for which the Purchase Offer is not accepted.

Conclusion of the Purchase Transaction and Payment

49. The purchase transaction for the Items for which the Seller has accepted the Purchase Offer is deemed concluded at the moment Tavex receives the Seller’s unambiguous acceptance of the valid Purchase Offer.

50. Tavex pays the Seller the amount stated in the Purchase Offer within one business day of receiving the Seller’s acceptance of the valid Purchase Offer.

51. Payment is made to the bank account that was disclosed to Tavex as a result of the Seller’s identity verification and payment of the Service Fee.

52. Once the Seller has accepted a valid Purchase Offer and Tavex has paid the amount stated in it, the Item in question becomes the property of Tavex and the Seller no longer has the right to request its return.

53. After the purchase transaction is concluded, changes in the gold market price do not affect the price of the concluded transaction.

Rejecting the Purchase Offer

54. Until the Purchase Offer is accepted, the Seller has the right to decline the sale of the Items in full or in part.

55. If, after testing, the Seller does not accept the Tavex Purchase Offer in full or in part, the Seller has the right to have the Items in question returned in accordance with the procedure set out in the Contract.

56. For Items that the Seller does not sell to Tavex, the Seller may choose to:

a) receive the Items at the Omniva parcel locker selected in the Application, paying an additional Return Fee of EUR 3.00 (the invoice is sent to the Seller’s e-mail); or

b) collect the Items free of charge at the Tavex branch at Elizabetes iela 21A, Riga (on business days from 10:00 to 18:00).

57. The Seller understands that returned Items may be cut, deformed, scratched or otherwise altered or damaged as a result of testing. Stones or other non-gold parts may have been removed from them, and some of these may have been damaged or irreversibly destroyed during testing.

58. If the Item does not contain gold of at least 375 fineness or the Seller does not accept the Purchase Offer made by Tavex, Tavex makes it possible to have the Item returned within 3 months from the day an informational notice of the test results is sent to the e-mail address provided by the Seller in the Application.

59. If, within 3 months from the day the notice of the test results is sent, the Seller has not collected the Item at the Tavex branch or has not taken the steps necessary for its return via Omniva, Tavex is entitled to dispose of the Item. By agreeing to the terms of this Contract, the Seller confirms that they have been informed of this storage period for the Item and agrees that, after it ends, Tavex is under no obligation to continue storing the Item or to arrange its return.

60. Before disposing of the Item, Tavex sends the Seller a reminder to the e-mail address provided in the Application.

Items and Parts Not Containing Gold

61. If testing finds that one or more Items sent by the Seller do not contain gold, or that an Item contains non-gold parts, Tavex informs the Seller.

62. If non-gold Items, stones or other non-gold parts removed from the Items remain after testing, the Seller may choose to:

a) receive them at the Omniva parcel locker selected in the Application, paying a Return Fee of EUR 3.00;

b) waive their return and ask Tavex to dispose of them. In this case, no Return Fee is charged; or

c) collect them free of charge at the Tavex branch at Elizabetes iela 21A, Riga.

63. If none of the Items in the shipment contains gold of at least 375 fineness, no purchase transaction is concluded. The Service Fee of EUR 2.00 already paid is not refunded, and the Seller has the right to have the Items returned in accordance with the procedure set out in the Contract.

64. If, in the case referred to in point 63, the Seller chooses to receive the Items at the Omniva parcel locker selected in the Application, a Return Fee of EUR 3.00 is charged in addition to the Service Fee already paid. A separate invoice for the return of the Items, stating its payment deadline, is prepared and sent to the e-mail address provided in the Application.

65. If the Seller waives the return of non-gold Items or remaining non-gold parts and asks Tavex to dispose of them, no Return Fee is charged.

66. By choosing disposal, the Seller unambiguously waives the return of the Item or parts in question and agrees that Tavex is entitled to dispose of them.

Withdrawal of the Application and Return of the Item

67. The Seller may withdraw the Application as long as the Item has not been handed over to Tavex for testing.

68. If Tavex has received the Item but testing has not yet started, the Seller may ask for the Item not to be tested. The Service Fee of EUR 2.00 already paid is not refunded.

69. In the case referred to in point 68 of this Contract, the Seller may choose to:

a) receive the Item at the Omniva parcel locker selected in the Application, paying a Return Fee of EUR 3.00; or

b) collect the Item free of charge at the Tavex branch at Elizabetes iela 21A, Riga.

70. After accepting a valid Purchase Offer, the Seller cannot unilaterally withdraw from the transaction solely because the gold market price has changed.

71. The gold market price depends on fluctuations in the financial market, which Tavex cannot control. To the extent that the rules on consumer distance contracts apply to a specific transaction, the exceptions provided for by law regarding the right of withdrawal for transactions whose price depends on fluctuations in the financial market also apply.

Processing of Personal Data

72. Tavex processes the Seller’s personal data in accordance with the applicable personal data protection laws and the Tavex Privacy Policy.

73. Information about the purposes and legal bases of personal data processing, data recipients, retention periods and the Seller’s rights as a data subject is available in the Tavex Privacy Policy.

74. Tavex does not disclose information obtained in the course of the transaction to third parties, except where this is necessary to perform the transaction, to protect the legitimate interests of Tavex, or where the obligation to provide information arises from law.

Confidentiality

75. The Parties consider information received in the course of performing the Contract to be confidential and undertake not to disclose it to third parties or publish it without the prior written consent of the other Party, except where disclosure is necessary to perform the Contract, to protect a Party’s legitimate interests, or where the obligation to disclose information arises from law.

Liability of the Parties and Dispute Resolution

76. The Seller is responsible for the accuracy and currency of the information provided to Tavex in the Application and during the transaction, including contact details.

77. Tavex has the right to suspend or refuse to perform the transaction if this is necessary to fulfil obligations set out in law, to protect the interests of Tavex or the Seller, or to prevent possible fraud, the sale of criminally obtained property or another unlawful transaction.

78. Questions and disagreements relating to the testing of Items or the purchase transaction shall first be resolved by the Seller and Tavex contacting each other and seeking a mutually acceptable solution.

79. Matters not regulated by the Contract are governed by the laws of the Republic of Latvia.

Final Provisions

80. By submitting the Application, the Seller confirms that they have read the Contract, understand the procedures it sets out for testing Items, determining the price, the Service Fee and returning Items, and agree to them.

81. Tavex has the right to amend the terms of the Contract. The version of the Contract in effect at the time a specific Application was submitted applies to that Application.

Tavex Contact Details