The following are the terms of a legal agreement between you (“you”, “the Customer, “your”) and Silver Bullion Sdn Bhd (“Silver Bullion Malaysia”, “we”, “us, “our”, “SB Malaysia”) and set forth the “Terms of Service” for your use of the services of Silver Bullion, having its registered office at Lot 26.02, Level 26, Public Bank Tower, Jalan Wong Ah Fook, 80000 Johor Bahru, Johor, Malaysia and your use of the Silver Bullion website (the “Website”).

By accessing, browsing and/or using the Website, you acknowledge that you have read, understood and agree to be bound by these Terms of Service and to comply with all applicable laws and regulations.

We reserve the right to amend this User Agreement at any time. We will notify you of such changes by posting the revised User Agreement with the amended Terms of Service on our Website. Users of our online services will be requested to accept the amendment(s) by ticking the relevant box on our website.  Your continued use of the Website or our services after any change to our Terms of Service constitutes your agreement to be bound by such changes.

We may terminate, suspend, change, or restrict access to all or any part of the Website without notice or liability.

  1. Disclaimers
    1. We are not required to be licensed and/or regulated by the Bank Negara Malaysia (“BNM”) nor any other regulators in or outside Malaysia. Physical Bullion is not a regulated financial instrument under Malaysia laws and is treated like any other physical goods that can be freely purchased or sold.
    2. BNM does not regulate any of our products and services and these products do not fall within the remit of the Financial Deposit Insurance Scheme of Malaysia.
    3. We do not provide any investment or other forms of advice, nor do we make any recommendations to you.  We solely perform, on an “execution only” basis; the buying, selling, testing of Bullion.
    4. A reference to a person shall include a reference to an individual or individuals, firm, company, corporation, partnership, unincorporated body of persons, government, state or agency of a state or any association, trust, joint venture or consortium (whether or not having separate legal personality) and that person’s personal representatives, successors, permitted assigns and permitted transferees.
    5. Your agreement to these Terms of Service shall be indicated by way of acceptance via our Website by clicking or ticking the “I Agree” box (or by your signature at the bottom of these Terms of Service if on paper, if applicable).  If you disagree with any part of these, you must notify us immediately and without hesitation, and discontinue your use of our Services and our Website.
    6. Where we have published a document that is referred to within these terms and conditions, the content of that document shall also form part of these Terms of Service and shall be deemed as being understood and accepted by you.  In the instance of any inconsistencies or contradictions, the meaning taken from these Terms of Service shall prevail.
    7. Any references in this User Agreement to a given date and/or time shall mean Peninsular Malaysia time (UTC +8).
  2. Your Purchase of Bullion (Buy Order)
    1. The submission of a Buy Order means that you have entered into a binding agreement with us to purchase Bullion at the price specified on the order that you have submitted. After you have submitted a Buy Order, we will send to you, depending on your preference, the ‘Order Confirmation’ via e-mail or we will post a secured ‘Order Confirmation’ notice on our Platform and send you an electronic link thereto within one Business Day.
    2. The Bullion you have submitted your Buy Order for may be ‘In-Stock’ whereby the Bullion is already in our strong room or in our vault.  Alternatively it may be a ‘Pre-Order’, whereby we will order your buy order Bullion on your behalf from/through our suppliers.  You will be able to access the availability of our “In-Stock” Bullion real time on our Website as well as conservatively estimated pre-order Bullion delivery times, which are updated regularly.
    3. Pre-orders involve a potential counterparty delivery risk and are subject to Force Majeure events.
    4. We reserve the right to refuse or cancel any order of any kind without prior notice in the event that:
      1. We are unable, for whatever reason, to procure any or adequate Bullion to satisfy your Buy Order due to causes beyond our control;
      2. Your payment is not received on time;
      3. The price is incorrect, for whatever reasons, including but not limited to computer-related or technical problems or otherwise, pricing error, incorrect item descriptions; and/or
      4. The order is deemed questionable, suspicious or of significant risk to us.  Any such decision made by us is final and we are not obliged to disclose the grounds of our decisions.
    5. You are able to physically collect Bullion through a ‘Local Pickup’ arrangement. Collection of purchased Bullion for ‘Local Pick-up’ must occur within one (1) month of pickup notification as notified to you via e-mail and/or secure notification, failing which, the pickup order will either be cancelled or Bullion shall be transferred into storage and storage fees will start to accrue in accordance with the prevailing storage rates.
    6. Items sold are GST free and solely for investment purposes.
  3. Your Sale of Bullion (Sell Order)
    1. Walk-in Bullion sales to us will be priced when you are in our offices using the Website listed prices.
    2. For Walk-ins we will issue a ‘Purchase Order’ directly.
    3. Submitting a Sell Order means that you have entered into a binding agreement with us to sell Bullion at the price specified on the order that you have submitted.
    4. Upon completion of your sell order or sellback and after issuance of our payment to you, you will receive a ‘Purchase Order’ from us listing all details of the transaction, including mode and date of payment. This document serves as evidence of selling Bullion to us.
    5. We reserve the right to refuse or cancel any sale order of Bullion, without prior notice, in the event that:
      1. The listed price for the Bullion is incorrect due to a technical error or otherwise;
      2. We are unable to complete your sell order due to causes beyond our control; and/or
      3. The order is deemed questionable, suspicious, or of risk to us.
    6. Any such decision made by us is final and we shall not be obliged to disclose the grounds of our decisions.
    7. The issuance of payments from us to you will be in MYR or USD, by cheque or online bank transfer. However, you may opt for the payment to be paid in other major currencies, at our bank’s exchange rate. Any currency conversion charges and fees will be clearly outlined and depend on the pay-out currency chosen.
    8. Bullion we purchase may be subject to inspection and a Density, Ultrasonic, X-Ray fluorescence test (“DUX”) or Electrical Conductivity Measurement (“ECM”).
    9. Proof of posting by us of a secured Buy Order or Sell Order notification or e-mail notice is evidence of receipt by you, unless we receive an express delivery failure notification within 6 hours of sending the Buyback Confirmation notice e-mail.  You acknowledge that when we buy Bullion from you, we are entirely free to decide whether we add the Bullion to our own stocks and pay you with our own funds or to directly or indirectly buy the Bullion on behalf of our suppliers or customers.
  4. Documents & Cancellation
    1. We will issue you the following documents upon completion of a buy or sell transaction:  
      1. Invoice:  This is your proof of a completed purchase and it is the document that records the transfer of legal ownership of purchased Bullion Parcels to your name.  The invoice certifies that full payment for the Bullion has been received from you and that your Bullion was delivered to you.
      2. Purchase Orders:  These are issued by us should you sell your Bullion back to us.  The Purchase Order is proof of purchase by us and proof of sale by you and lists your sold Bullion Parcel numbers.  The Purchase Order is issued only once payment to your Linked Bank Account has been released.  It specifies the date, amount and bank coordinates of the transferred funds
      3. Delivery Note:  We issue these along with your delivered Bullion Parcels.  We require a physical signature on this document when you take physical possession of the Bullion.  The document acts as proof of delivery for the selected parcels and lists possible delivery charges.
    2. You agree to notify us immediately if you notice any discrepancies on documents issued to you under these Terms of Service.  If a discrepancy is not reported within 10 business days from the date of download, you agree that the document can be considered to be correct by us. We reserve the right to correct any discrepancies discovered, and notify you of such correction.
    3. Upon cancellation, if initiated by you, of a bullion order you shall be responsible for payments of any spot price difference, which shall be the difference of the price at which we sold to you or bought from you and the prevailing market price or prices at the time of the cancellation.  There will be an additional cancellation fee as published in the Schedule of Charges.
    4. Any market gain by us on cancellations initiated by you shall not be refunded and shall remain our property. Once we approve a cancellation order of Bullion, an ‘Order Cancellation’ e-mail and/or secure notification shall be sent to you, followed by an invoice for any excess amount due by you.  The excess amount shall be payable within 30 days from the date of the ‘Order Cancellation’ e-mail and/or secure notification.  We reserve the right to refuse new orders until the excess amount is paid in full.
  5. DUX Testing
    1. DUX testing and ECM are non-destructive Bullion testing methodologies that measures material characteristics of a given sample and evaluates whether the results fall within acceptable material tolerances that are characteristic of the Bullion type tested.  The DUX and ECM testing criteria and the relevant acceptable material tolerances are determined at our sole discretion and may be modified from time to time without prior notice.  Bullion that passes the DUX or ECM testing is considered by us to be genuine Bullion.  We do not buy, sell, or store any Bullion that fails the DUX or ECM test and/or any Bullion that is not deemed genuine.
    2. We shall not be liable for any incidental, indirect, special or consequential loss or damage including, but not limited to, loss of revenue, profits, contracts, business or anticipated savings, or loss of goodwill or reputation, whether foreseeable or not and whether arising from any act or omission in the provision of the DUX or ECM testing service.
  6. General Terms, Settlement & Ancillary Services
    1. Payments can be effected using:-
      • Domestic Internet Banking Transfers
      • Cash
      • International wire transfers
      • Personal Cheques in either MYR or USD (subject to clearance and only from Malaysian bank accounts)
      • Other Methods as listed on our website
    2. You agree that all banking charges both in Malaysia and abroad shall be borne by you and shall be deducted/charged to your account. These banking charges include, but is not limited to, a) all fees charged by our banks in receiving USD and/or MYR transfers to our account, b) all wiring, handling and other fees charged by the remitting and receiving banks, c) all fees charged by an intermediary bank, and d) all fees charged by any payment processing party.
    3. You represent and warrant that any funds used for settlement do not represent any proceeds of crime, including any tax-related offences, and that you, or your affiliates, shareholders, directors (where applicable) or connected persons have not engaged in criminal activity or tax offences.
    4. Note that we may return the funds, no matter the consequences, if we are not satisfied with its source, and proceed to cancel the requested transaction or settlement.  In case of doubt, we may contact you to seek additional information concerning the funds' source, which you agree to provide.  You hereby agree and acknowledge that we are entitled to suspend the transaction until such additional information is received from you and is satisfactory to us.  You shall be liable for all costs and expenses incurred by, directly or indirectly, us in connection with such suspension.
    5. Upon any failure by you to comply with your obligations, we shall be entitled to any and all of the remedies available to us, whether at law, in equity or otherwise.
    6. In the event that we must take any action against you to enforce your obligations under these Terms of Service, including, without limitation, turning your account over to a collection agency or a lawyer for collection, you shall be liable for all of the costs and expenses incurred by us in connection with such action.
    7. Should you fail to pay us any amount due and owing under the Terms of Service, and such default in payment continues for 90 calendar days, you authorise us to liquidate your precious metal in the quantities required to recover unpaid charges.  We will pay you any balance that may remain from such sale, after deducting the amount you owe plus any costs it may have incurred in the sale transaction.
    8. All money payable by you to us will be paid free and clear of, and without withholding or deduction for, any taxes or duties of whatsoever nature imposed, levied, collected, withheld or assessed by any authority having power to tax, unless the withholding or deduction of such taxes or duties is required by law. In that event, unless otherwise agreed, the paying party shall pay such additional amounts as will result in the net amounts receivable by the other party (after taking account of such withholding or deduction) being equal to such amounts as would have been received by it had no such taxes or duties been required to be withheld or deducted.
    9. We shall not be liable for any damages or losses, including direct, indirect, consequential or incidental damages and/or pure economic loss, which you may incur due to the: -
      1. Use or termination of our Website or Platform;
      2. Fault or negligence of any entity furnishing any facilities, equipment or services used in connection with the Website or Platform;
      3. Failure or delays in transmission, malfunction of equipment, breakdown or failure of any telecommunications systems, software or hardware provided by any entity used to operate the Website; and/or
      4. Causes beyond our reasonable control or anticipation.
    10. We shall not be liable for any damages or losses, including direct, indirect, consequential or incidental damages and/or pure economic loss, which you may incur due to any actions and/or transactions with us and/or your reliance on or use of information obtained in any of our newsletters, literature, reports, e-mail correspondence, Website, or any other communication from us and we will incur no liability for any errors or omissions of such communications.
    11. We reserve the right to modify any product or service information contained on our Website or in any publication, at any time without any prior notification.
    12. Notwithstanding any other provision in these Terms of Service, the entire liability of us for any and all claims, losses or damages arising out of or in connection with any transaction between us and you or for any other reason whatsoever, shall be limited to the amount that you paid in such transaction.  We shall not, in any event, be liable for any indirect, incidental, special, consequential, exemplary, punitive or other damages as a result of its or its directors’, officers’, employees’, contractors’ and/or agent’s service, equipment or facilities.
    13. Nothing in these Terms of Service shall pass to us, or shall be construed as acceptance by us of, any of your liability, debt or other obligation (whether accrued, absolute, contingent, known or unknown) for anything done or omitted to be done in connection with the Collateral Parcels and you shall:
      1. Indemnify and hold us harmless against any and all obligations, liabilities, action, award, claim or other legal recourse, complaint, cost, debt, demand, expense, fine, liability, loss, outgoing, penalty and proceeding arising therefrom; and
      2. Perform any obligation falling due for performance or which should have been performed under these Terms of Service.
    14. Nothing in these Terms of Service shall exclude or limit our liability in the event of:-
      1. any damage suffered by you as a result of a violation of the Consumer Protection Act of Malaysia by us;
      2. fraud or fraudulent misrepresentation by us; or
      3. any matter for which it would be illegal for us to exclude or attempt to exclude its liability.
  7. Shipping
    1. The domestic/international shipping rate is calculated based on location, Ringgit/Dollar value and weight of the package. If a package is unclaimed by you and sent back to Silver Bullion Malaysia, we will refund the purchase price minus five percent (5%) restocking/cancellation fee for domestic transactions (and ten percent (10%) for international transactions) and any market loss incurred in accordance with our Market Loss Policy and all shipping and insurance costs incurred by Silver Bullion Malaysia.
    2. You are responsible for all duties and taxes that may be charged. Silver Bullion Malaysia is NOT responsible for any duties and or taxes.
    3. Our insurance policy covers all Pos Laju shipments while the package is in transit. Once the package has been marked delivered our insurance coverage ceases and Silver Bullion Malaysia assumes no further responsibility.
    4. The prices shown include the cost of shipping and full insurance. Should anything happen while your package is in transit to you, it will be covered by our insurance policy. However, by making a purchase from us, you agree and understand the valuable nature of precious metals and numismatic items and have a secure delivery location. It is not the responsibility of Silver Bullion Malaysia to verify or otherwise ensure that its customers possess a secure delivery location. You agree to provide us with a secure delivery location and either be present to sign for the package, or to authorize someone at that address to act as your agent in your absence to accept delivery of the package. We will not accept responsibility if you have left instructions with any carriers or delivery service to leave parcels unattended for you without the need for a signature, or, if you have given them instructions to leave your package with someone else such as a building manager, neighbour, or drop-off location. Furthermore, you acknowledge and agree that once the postal service, courier, customs office or other third party delivery or handling agency certifies or otherwise claims that an item is delivered, it is for all intents and purposes delivered and is no longer covered by any insurance, and we will not be responsible for any such items.
    5. In addition, in order for us to work with our insurance carrier, should your package be lost in transit, or should you fail to receive your package, you must notify Silver Bullion Malaysia immediately. Failure to notify Silver Bullion Malaysia of such loss or failure in a timely manner may result in additional charges, such as market loss per our Market Loss Policy, attorneys’ fees and costs of collections.
    6. In the event that a package has not been delivered, Silver Bullion Malaysia will not be able refund or reship the purchased product until the appropriate carrier has notified Silver Bullion Malaysia in writing that said package has been declared lost. At that point in time Silver Bullion Malaysia will, in our sole discretion, either replace the original product or refund the full purchase price.
    7. Shipping times seen on the individual product pages are calculated from the time after your full payment via wire is received and/or your full payment via credit card has been validated by our security department.
    8. Estimated shipping times are not guaranteed or warranted in any way. Silver Bullion Malaysia will make its best efforts to meet the estimated delivery times. However, shipping times will be extended if we are not able to reach you via phone or email to obtain further information regarding your payment, including information during the credit card verification process. In addition, omitting the web order number on wire payments may delay your shipping time. Furthermore, unexpected delays due to weather conditions or product delays may also cause potential shipping delays. All orders may take up to seven (7) business days for processing before shipping.
    9. All orders are shipped in full once every product on the order is in stock and once we receive full payment and required information for the order. If a customer would like an order to be partially shipped, the customer shall be responsible to pay an additional shipping and insurance charge.
    10. If a customer's order is returned to Silver Bullion Malaysia  for any reason, the customer will not be refunded and will remain responsible for any shipping charges incurred, the five percent (5%) restocking/cancellation fee for domestic transactions (and ten percent (10%) for international transactions) and any market loss incurred in accordance with our Market Loss Policy. In addition, if the customer requests reshipment of the order, the customer will be responsible to pay another shipping charge (equal to the original shipping charge) before Silver Bullion Malaysia reships the package.
    11. If you feel a package is damaged or has been tampered upon arrival, DO NOT accept the package and notify Silver Bullion Malaysia immediately. Once you have signed for the package Silver Bullion Malaysia assumes no further responsibility/liability. In the event that a package has been damaged in delivery, Silver Bullion Malaysia will not be able refund or reship the purchased product until the appropriate carrier has notified Silver Bullion Malaysia in writing that said package has been damaged in shipping. At that point in time Silver Bullion Malaysia will, in our sole discretion, either replace the original product or refund the full purchase price.
    12. We use a stringent packing and shipping procedure to ensure all products are sent as ordered, which includes continuous videotaping of all aspects of the packing and shipping process, photos of each product, and detailed tracking information.
    13. However, in the event you believe there is a problem with any order, including any missing or damaged items, the problem must be reported to Silver Bullion Malaysia within two (2) business days of receipt of the order. Your failure to report a problem of any kind within two (2) business days of receipt of an order will constitute your acceptance of the order as received.
  8. Hold For Pickup
    1. When your order is ready for pickup, you will be contacted by our accounting department. You will then have five (5) business days to pick up your order from our branch located at Lot 26.06, Level 26, Public Bank Tower, Jalan Wong Ah Fook, 80000 Johor Bahru.
    2. When a customer comes into the Silver Bullion Malaysia showroom to pick up an order he/she must have an identification card and the name and address on the IC must match the name and address on the order being picked up.
    3. If your order is not picked up within the five (5) business days, there will be charges applied to hold your order.
  9. Communications & Use of the Website
    1. Secure access to the Platform is provided through logging on to our Website by way of your username and password. These login credentials are unique to you and are our primary method of securely identifying you when delivering our Website Services to you.
    2. You agree to keep your username and password secure at all times, and to not store them on a device or computer that would permit someone else to impersonate you.  You are solely responsible for the safe guarding of these login credentials.
    3. If you suspect that your access to the Platform has been compromised in any way, it is your responsibility to contact us immediately.
    4. You confirm that you will not provide your username and password to any third parties.  You shall be responsible for any actions performed on your account by the third party.
    5. You confirm that you will only use our Platform for the purposes as outlined in these Terms of Service.
    6. The Platform opening hours are decided by us and may be varied without prior notice.
    7. We have the right not to act on your instructions under the following circumstances:-
      • In our reasonable option, we deem that your instruction was not sufficiently clear to act upon;
      • We could not verify your identity to our reasonable satisfaction;
      • The instruction was not made by you; and/or
      • We believe that the instruction may be related to an illegal activity.
    8. You acknowledge that the method of giving instructions to us and communicating with us, via our customer support department, is through our Website and/or e-mail. The costs incurred when using our Services or accessing our Website are for your own account.
    9. In the event of a failure of the Internet or Website for whatever reason which prevents access from the region or country in which you are resident, we will undertake on a best efforts basis to operate by alternative methods including telephone, facsimile or post.  You agree to provide verification of your identity as requested by us before we can act on any instructions that you give to us using such alternative methods of communication.
    10. You agree that we are entitled to assume, in respect of any instruction received from a person using your username and password, that the person is you.
    11. You agree that we are entitled to communicate with you by e-mail and/or secure notification through our Website.  We send a notification based on your communication preference for various requests.
    12. You shall be deemed to have knowledge of the content of such notifications, and shall not hold us liable for any losses and/or damages that you may have suffered.  If in doubt we reserve the right to hold off fulfilling a request until we can verify you initiated it.
    13. You shall inform us if a notification suggests unauthorised access to your records. In the event of any unauthorised access to your records, we are entitled to investigate and seek the assistance of the authorities in detecting crime and arresting offenders.
    14. Our communication method is through encrypted secured notifications and/or e-mail.
    15. You acknowledge that secured notifications require you to log in to read your messages. You also agree that we shall not be liable for any e-mail that is sent using the non-preferred option. You are responsible for notifying us of any and all such e-mails sent using via the non-preferred option, and we will use commercially reasonable measures to ensure that such e-mail is retrieved by us, and re-sent to you in accordance with your preferred option.
    16. All notices and other communications to you shall be directed to the address or e-mail address that you provided to us at the time of your registration or as part of an order. We cannot be liable for any errors or changes in any addresses and/or e-mail address.
  10. Amendments, Privacy and Breach
    1. We reserve the right to correct any discrepancies or mistakes that we discover, and notify you of such correction.
    2. Our practices shall remain compliant with all local laws and regulations on data protection and privacy in accordance with the Personal Data Protection Act 2010 (“PDPA”).  You consent to the collection of personal data by us for the purposes of facilitating the provision of services under these terms of Service.  We shall be entitled to use, disclose, transfer, or process such personal data, from time to time for in accordance with the PDPA.
    3. We recognise your right to confidentiality after your identity has been validated and, as physical Bullion is not classified as a financial product, customer transactions do not fall under any financial reporting rules.  However if we become suspicious of any attempt at money laundering, or if contacted by a authority with competence in the Malaysian jurisdiction in the exercise of lawful regulatory or enforcement authority in a matter of anti-money laundering (“AML”), or combating the funding of terrorism (“CFT”), you acknowledge and agree that we must assist the competent regulatory or law enforcement authority.
    4. We warrant that the identities of owners, Borrowers and Lenders will never be provided no matter the circumstances or transactions that you have entered into with them.  Similarly, we will not reveal your identity to third parties unless we are under any legal obligation to do so. You agree not to make attempts to establish the identity of any of our customers.
    5. You may not assign or transfer these Terms of Service or any of your rights or obligations under these Terms of Service without the prior written consent of us.  You agree that we shall be entitled to assign or transfer all or any of its rights under these Terms of Service and to perform any of our obligations in respect of these Terms of Service through, any of our subsidiaries, related corporations and affiliated companies.
    6. If any term of these Terms of Service is held to be unenforceable for any reason, it shall not affect the other terms of these Terms of Service and the term that would otherwise be unenforceable shall be enforced to the fullest extent that it would be enforceable.
    7. No failure or omission by us to carry out any obligation under these Terms of Service shall be deemed a breach of these Terms of Service if such failure or omission arises out of any event, including any Force Majeure event.
  11. Representations and Warranties
    1. You make the following representations and warranties to us at the time of entering into these Terms of Service and every time you use the Platform, Website or Services offered by us:-
      1. You are over the age of 18 years;
      2. You have the capacity to enter into this legal agreement and are of sound mind;
      3. You confirm that you are not insolvent and/or bankrupt;
      4. You confirm that all personal information that you provide about yourself is accurate and true to the best of your knowledge;
      5. The Linked Bank Account is in your name
      6. You have carefully considered the risks involved with using our Platform and also the risks associated with the Peer-to-peer Lending Program;
      7. You are not acting in breach of any laws or regulations that are applicable to you nor any company, trust or partnership upon whose instructions you are acting;
      8. If you are not a resident of Malaysia, you shall be solely responsible for ensuring that using the Platform or making a lending commitment does not violate any laws or regulations applicable in your country of residence;
      9. You have taken all necessary action and obtained all required or desirable authorizations to enable you to execute, deliver and perform your obligations under the transactions contemplated by yourself and to make these admissible in evidence in the event of any legal proceedings. All such authorizations are in full force and effect;
      10. Your obligations under these Terms of Service are legal, valid, binding and enforceable;
      11. No event or circumstance is outstanding which constitutes (or, with the expiry of a grace period, the giving of notice, the making of any determination or any combination thereof, would constitute) a default or termination event under any other agreement or instrument which is binding on you or to which any of your assets is subject which has or is reasonably likely to have a material adverse effect on your business, assets or condition or ability to perform your obligations;
      12. No litigation, arbitration or administrative proceedings are taking place, pending or, to your knowledge, threatened against you, any of your directors (where applicable) or any your assets, which, if adversely determined, might reasonably be expected to have a material adverse effect on your business, assets or condition, or your ability to perform your obligations;
      13. None of your assets placed with us represent proceeds of any criminal activity, or tax crimes; and
      14. All Collateral Parcels being held as security hereunder are solely owned by you, free and clear of any and all encumbrances, security interests, liens and rights and claims of third parties, including, without limitation, tax liens or claims and litigation affecting the Collateral Parcels, except the rights of us under the Loan Documents.
    2. Where you are not a natural person, you additionally warrant that:
      1. You are duly incorporated and validly exist under the laws of its jurisdiction of incorporation;
      2. You have the power to own your assets and carry on your business;
      3. You have the power and authority to execute, deliver and perform your obligations under the Loan Documents and the transactions contemplated by them. No limit on your powers will be exceeded as a result of the borrowing or the grant of the Security contemplated by the Loan Documents; and
      4. Your execution, delivery and performance of the obligations in, and transactions contemplated by the Loan Documents, do not and will not contravene or conflict with:-
        1. Any constitutional document;
        2. Any agreement or instrument binding on it or its assets or constitute a default or termination event (however described) under any such agreement or instrument; or
        3. Any law or regulation or judicial or official order, applicable to it.
    3. Each of the representations and warranties in this section 11 is deemed to be repeated by you on the date:
      1. of effecting one of the Services provided by us; or
      2. that payments are made or received
  12. Force Majeure

    No failure or omission by Silver Bullion to carry out its obligations under these Terms of Service shall be deemed a breach of these Terms of Service if such failure or omission arises out of any event that is beyond its control, including, but not limited to, sabotage, Acts of God, war or warlike hostilities, civil riots, acts of terrorism and/or government restrictions including blockades, embargoes and/or trade restrictions, shortage of material or labor for any reason whatsoever or such other circumstances that may cause a delay or failure to perform such obligation through no fault of Silver Bullion.

  13. Further Assurance, Offset & Jurisdiction

    You shall, at your own expense, promptly execute and deliver all such documents, and do all such things, as we may reasonably require for the purpose of giving full effect to the provisions of these Terms of Service.

    We have the right to immediately and without notice set off any liability or debt that is owed by you to us.

    These Terms of Service will be subject to the laws of Malaysia and any disputes and disagreements will be presented to and decided upon by the courts of Malaysia.

  14. Key Terms

    The key terms that we use in these Terms of Service are in bold, including the following:

    Authorised Representative refers to a person appointed by the customer fully authorised to act on his behalf and accepted as such by Silver Bullion

    Bullion means platinum, gold or silver (no matter whether coined or not)

    Bullion Parcels means numbered parcels with Bullion that have been physically stored in the vault of the in transparent, tamper evident bags

    Business Day means a day other than a Saturday, Sunday or a public holiday in Malaysia

    Buy Order refers to any and all your orders and purchases of Bullion, whether made through our Website, by telephone, by e-mail, in person or in any other way

    Due Date means the particular day on or before which something must be done to comply with the obligations under these Terms of Service. The due date is always indicated and means that payment must be received on or before the specified date

    Force Majeure Event refers to any event beyond our control, including but not limited to sabotage, acts of God, war or warlike hostilities, civil riots, acts of terrorism, government restrictions, and /or shortage of material or labour, which may cause a delay or failure to perform such obligation through no fault of ours

    LBMA refers to the London Bullion Market Association

    Linked Bank Account means the bank account provided by you in your initial verification form. The system is designed so that the Linked Bank Account beneficiary, the invoice beneficiary and the storage beneficiary are always in the exact same name as that of whose identity was verified during the account opening process

    Nationalisation Event means any act, including seizure, arrest, detention, confiscation, requisition, prohibition, interference, impounding, forfeiture or other restriction, by any government, other than Malaysia or Singapore, or by persons acting or purporting to act on behalf of any government, and any other cause or circumstance whether of the kind herein enumerated or otherwise, against a customer’s control, ownership or possession of any type of metal, including Bullion.

    Order Confirmation Upon completion of your buy or sell order you will receive a confirmation from us listing all details of the transaction, including mode and date of payment. This paper or electronic document serves as evidence of buying or selling Bullion from or to us respectively

    Platform refers to the computer and/or internet based service provided by us through our Website, which allows customers, Lenders and Borrowers to stay informed and to transact with us. This includes all secure areas of the Website in addition to any technology made available to you

    SB means Silver Bullion Sdn Bhd

    Sell Order means any and all sell orders for Bullion, whether made through our Website, by telephone, in person, by e-mail or otherwise

    Services means the roles that we perform in buying and selling Bullion and providing supporting activities and administration

    Terms refers to the terms and conditions that are set out in this document together with any other policies referred to herein

    Transfer-In refers to the process of shipping physical Bullion to SB and to have it authenticated and transferred into our storage after compulsory DUX testing. 

    TSH refers to The Safe House SG Pte Ltd who has supervision and/or custody of the Bullion

    USD means United States Dollars

    Vault Operator refers to TSH

    Verified Customer refers to a customer that has been verified and accepted as a client and that is now entitled to use the storage facilities that we offer and avail of the opportunity to become a Borrower or a Lender in the Peer-to-Peer lending programs

    Walk-in refers to a customer who presents himself or his authorised representative in person at the counters of Silver Bullion

    Website means our Website: www.silverbullion.com.my