Terms and conditions for selling bullion and gold jewellery to The Perth Mint

1. General

1.1 Customer eligibility

1. Customers (Customers) may offer to sell eligible precious metal products, being Bullion Products and Gold Jewellery Products, to The Perth Mint in accordance with these Terms and Conditions (Terms).
2. Customers must be at least 18 years of age and have the legal capacity to enter into a binding contract.

1.2 Applicable law

1. These Terms are subject to all applicable laws, including the Competition and Consumer Act 2010 (Cth) and the Australian Consumer Law (ACL).
2. Nothing in these Terms excludes, restricts or modifies any statutory rights or remedies that cannot lawfully be excluded, restricted or modified.
3. The Customer acknowledges that these Terms govern a transaction in which the Customer offers to sell Products to The Perth Mint, and that statutory consumer guarantees under the ACL primarily apply to supplies of goods or services by a business to a consumer. If any provision of the ACL applies to a transaction contemplated by these Terms, it applies subject to the extent, scope and operation of such provision.

1.3 Definitions

1. In these Terms:
   1. Bullion Products means precious metals (gold, silver, platinum, palladium) in the form of:
      1. bullion bars, bullion coins and bullion medallions issued by recognised mints;
      2. numismatic coins issued by recognised mints;
      3. currency coins issued by recognised mints;
      4. gold nuggets; and
      5. products of recognised refiners.
   2. Business Day means a day other than a Saturday, Sunday or public holiday in Western Australia.
   3. Contract means the contract of sale for the sale and purchase of Products formed in accordance with clause 4.1 or clause 4.2 (as applicable).
   4. East Perth Premises means The Perth Mint premises located at 310 Hay Street, East Perth WA 6004.
   5. Gold Jewellery Products means items of jewellery primarily composed of gold, including rings, bracelets, necklaces, earrings and similar items, regardless of purity or form.
   6. Over-the-counter transactions means transactions conducted in person at The Perth Mint Bullion Trading Room at 310 Hay Street, East Perth, during the opening hours as published on The Perth Mint website and otherwise in accordance with these Terms.
   7. Products means Bullion Products and Gold Jewellery Products.
   8. Remote Transactions means transactions conducted via remote communication methods, including telephone or email in accordance with these Terms.
   9. The Perth Mint means Gold Corporation (ABN 98 838 298 431) of 310 Hay Street, East Perth, WA, 6004, a statutory authority of the Government of Western Australia established under the Gold Corporation Act 1987, trading as The Perth Mint.
   10. Website means The Perth Mint website at www.perthmint.com.
2. Other terms defined throughout these Terms are shown in bold and capitalised.

2. Types of offers and transactions

2.1 Offers

1. Customers may offer, and The Perth Mint may (at its sole discretion) consider and accept offers for, Products for sale to The Perth Mint either:
   1. in the case of Bullion Products, by way of over-the-counter transactions or Remote Transactions; and
   2. in the case of Gold Jewellery Products, by way of over-the-counter transactions only.
2. Without limiting clause 2.1(a)(ii), offers to sell Gold Jewellery Products must be made in person for the purposes of identity verification and record keeping in accordance with the Pawnbrokers and Second-hand Dealers Act 1994 (WA).
3. These Terms apply only to Products offered for sale as over-the-counter transactions or Remote Transactions and do not apply to any Products offered to, or transactions conducted with, The Perth Mint Refinery or any other site operated by The Perth Mint.
4. The Perth Mint will only consider offers to sell Products made in accordance with these Terms, is under no obligation to purchase any Products offered, and may decline an offer at any time without providing reasons.
5. Without limiting clause 2.1(d), The Perth Mint may refuse to accept, proceed with, or complete any proposed transaction where The Perth Mint, acting reasonably, considers it necessary for operational, regulatory, fraud prevention, sanctions compliance or security reasons, including where doing so would expose The Perth Mint to material legal, compliance, financial, reputational or market risk.

3. Customer identification

3.1 General requirements

1. The Perth Mint is required to comply with regulatory obligations under Australian federal law, including the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (AML/CTF). A key component of these obligations is the implementation of robust “know your customer” (KYC) processes to verify the identity of Customers and, where applicable, their representatives.
2. As a licensed second-hand dealer, The Perth Mint is also required to comply with obligations under the Pawnbrokers and Second-hand Dealers Act 1994 (WA) and associated regulations, which impose similar KYC identity verification and record-keeping requirements.
3. No transaction contemplated by these Terms may proceed unless all Customer KYC has been satisfied to The Perth Mint’s satisfaction (acting reasonably and in accordance with its regulatory obligations).

3.2 Presenting party

1. All Customers must provide to The Perth Mint acceptable identification (ID) in accordance with clause 3.4 of these Terms before a transaction can proceed.
2.   The Perth Mint reserves the right, in its absolute discretion, to request ID and any other information or documentation, or make any reasonable inquiries, it considers necessary to verify identity and satisfy all requirements to enable it to comply with its obligations under applicable law and internal policies.  

3.3 Account registration

1. To sell Products in The Perth Mint’s Bullion Trading Room, Customers are required to register for an account and complete the applicable onboarding and KYC processes administered by The Perth Mint’s Customer Operations Team. This requirement is in addition to satisfying all regulatory identification requirements, including those applicable to transactions conducted under the second-hand dealer regime.
2. The Perth Mint may refuse to proceed with any Bullion Trading Room transaction where a Customer has not completed, or does not satisfactorily complete, the required account registration, onboarding or KYC processes.
3. Further information regarding account registration, identification and verification requirements is available on the Account Information and ID requirements page of the Website.
4. For Remote Transactions, The Perth Mint may require the Customer to complete additional verification steps (including in-person verification) before The Perth Mint will accept delivery of Products or proceed to Contract formation.

3.4 Individuals

1. For over-the-counter transactions, Customers must provide:
   1. one original document from Category A; and
   2. one original document from Category B, issued within the past three months and evidencing the Customer’s current residential address.
      

      Category A

      Category B

      Category A

      Current Australian Driver’s Licence.

      Category B

      Utility Bill (e.g. gas, water, electricity or telephone) or Bank Statement dated within three months.

      Category A

      Western Australian Photo Card issued by the Department of Transport.

      Category B

      Current identity card or licence issued by a government agency outside Australia.  

      Category A

      Passport (either current or has not been expired for more than two years).  

      Category B
2. In addition to the identification documents above, The Perth Mint may require the Customer to provide a bank statement in the Customer’s name for the purpose of verifying remittance details and payment instructions. Unless otherwise specified by The Perth Mint, the bank statement must be issued within the past 6 months and must clearly identify the account holder’s name and relevant account details.
3. Where a Customer requests any change to previously provided remittance or payment details, The Perth Mint may require the Customer to provide an updated bank statement in the Customer’s name to verify the revised account details before the change is processed.
4. The Perth Mint, at its sole discretion and in accordance with relevant legislation, reserves the right to accept alternative forms of identification not explicitly listed in the table above.
5. If the identification document provided by the Customer reflects a change in name or gender, the Customer must notify The Perth Mint. In such cases, The Perth Mint may require additional documentation to complete the identity verification process..
6. The Perth Mint may request original documents, certified copies or additional verification to ensure compliance with legal and regulatory requirements.

3.5 Other legal entities

If the Customer is another type of legal entity, including but not limited to a company, superannuation fund, or trustee transacting on behalf of a trust, The Perth Mint may, at its sole discretion, require additional identity verification documents.

4. Contract completion and non-completion

4.1 Contract formation – over-the-counter transactions

1. Where a Customer presents Products for sale to The Perth Mint during an over-the-counter transaction and The Perth Mint is willing to consider the Products, the Products will be received and subject to testing and verification in accordance with clause 4.4.
2. If The Perth Mint is satisfied with the results of that testing and verification and elects to proceed, The Perth Mint will determine a price to be offered for the Products in accordance with clause 4.3(a).
3. If the Customer indicates that it is willing to proceed at the offered price, The Perth Mint will issue a contract of sale setting out the offered price and the specific terms of the transaction, subject to these Terms.
4. The Customer must sign the contract in order to accept the offered price. The Perth Mint will then, subject to these Terms, sign the contract.
5. A binding contract for the sale and purchase of the relevant Products is formed only when the contract has been signed by both the Customer and The Perth Mint and, upon formation, constitutes the Contract for the purposes of these Terms.

4.2 Contract formation – remote transactions

1. Remote Transactions will only be conducted from Monday to Friday (excluding public holidays) during the opening hours as published on the Website, and only for Bullion Products in accordance with clause 2.1(a).
2. Any estimate, indication of value or other non-binding valuation provided by The Perth Mint in connection with a Remote Transaction before the Products are physically received and verified is indicative only and does not constitute a legally binding offer or agreement.
3. A Customer may initiate a proposed Remote Transaction by contacting The Perth Mint by telephone or email and providing details of the Products the Customer wishes to offer for sale.
4. Based on the information provided, The Perth Mint may, at its sole discretion, decide whether it is willing to consider the Products and, if so, may invite the Customer to deliver the Products to the East Perth Premises for testing and verification.
5. Any invitation to deliver Products does not constitute an offer to purchase the Products, and The Perth Mint is under no obligation to proceed with the transaction.
6. If The Perth Mint is satisfied with the results of that testing and verification and elects to proceed, The Perth Mint will determine a price to be offered for the Products in accordance with clause 4.3(a), and communicate it to the Customer.
7. If the Customer indicates that it is willing to proceed at the offered price, The Perth Mint will issue a contract of sale setting out the offered price and the specific terms of the transaction, subject to these Terms.
8. To secure the offered price, the Customer must sign and return the contract to The Perth Mint within one hour of the contract being issued.
9. If the Customer does not sign and return the contract within that timeframe, the offered price will lapse, the transaction will not proceed, and any proposed sale will require a new price to be offered based on market conditions at the relevant time.
10. If the Customer signs and returns the contract within the required timeframe, The Perth Mint will then, subject to these Terms, sign the contract and return a copy of it to the Customer.
11. A binding Contract for the sale and purchase of the relevant Products is formed only when the Contract has been signed by both the Customer and The Perth Mint and upon formation, constitutes the Contract for the purposes of these Terms.

4.3 Pricing

1. The Perth Mint will determine the price offered for any Product submitted for sale at its sole discretion. Pricing decisions will be based on relevant market conditions, internal policies, and any other factors The Perth Mint deems appropriate.
2. The Customer may accept the price offered for any Product submitted for sale at the Customer’s sole discretion.
3. Once a Contract is formed, the price is agreed and fixed (Fixed Price) as set out in the Contract.
4. Under no circumstances can parties vary the Fixed Price or have it applied retrospectively to a point earlier in time or prospectively to a point later in time.
5. The Customer acknowledges that precious metal markets are volatile and that any estimate, indication of value or indicative prices provided prior to Contract formation may change. The Perth Mint is not liable for any loss suffered by the Customer arising from such risks, including (but not limited to) as a result of market movements, transaction delays, a decision not to proceed, or the refusal or rejection of the Products. Only the Fixed Price agreed and detailed in the signed Contract will apply.

4.4 Receipt and verification of products

1. For over-the-counter transactions, receipt and initial verification of the Products will take place at the time of the transaction.
2. For Remote Transactions, receipt and initial verification of the Products will take place after the Products have been delivered to The Perth Mint’s East Perth Premises in accordance with clause 5.1.
3. The initial verification process includes, but is not limited to, weighing, measuring, and metal analysis. The Perth Mint may conduct additional verification at any time including during the Grace Period (as defined in clause 4.5(a)), as deemed necessary to ensure the authenticity and integrity of the Products.
4. The Perth Mint may refuse any Products (at any time without providing reasons), including those that do not meet its required specifications, or are suspected of being counterfeit, altered, or unlawfully obtained. If a Product is refused, The Perth Mint may, at its discretion, return the Product to the Customer or, where legally required retain the Product, or report the matter or deliver the Products to the relevant authorities. The Customer will be solely responsible for all costs and expenses associated with the return of any refused Products, including transport, insurance and any applicable taxes or duties.

4.5 Grace period and termination

1. The Perth Mint may, at its sole discretion, terminate a Contract within 14 days following its full execution (Grace Period), where The Perth Mint considers it necessary to protect its legitimate commercial, legal, or regulatory interests, or comply with any legal requirement. For the avoidance of doubt, The Perth Mint shall not be entitled to exercise this right solely by reason of changes or movements in precious metal prices or market conditions. The Perth Mint is not required to provide any reason for exercising this right.
2. During the Grace Period, The Perth Mint may, at its sole discretion (including where The Perth Mint considers such checks necessary to protect its legitimate interests or to comply with any applicable legal requirement), undertake further checks or request reasonable supporting documentation from the Customer (including proof of purchase for any Products supplied) to confirm details relevant to the Contract.
3. If the Contract is terminated by The Perth Mint during the Grace Period:
   1. both parties shall be released from all further obligations under the Contract, and neither party shall have any further claims against the other, except as expressly provided in the Contract or these Terms. Termination of the Contract shall not affect or prejudice any rights or obligations which have accrued or arisen under the Contract or these Terms prior to the time of termination;
   2. The Perth Mint shall not be liable to the Customer for any loss, damage, costs, expenses, or inconvenience arising from or in connection with the termination;
   3. if payment has not yet been made, the Contract will terminate with effect from the date specified by The Perth Mint and, subject to any applicable legal or regulatory requirements (including to withhold return or deliver the Products to authorities), The Perth Mint will return the Products to the Customer within a reasonable period at The Perth Mint’s cost; and
   4. if payment has already been made, the Contract will terminate with effect from the date specified by The Perth Mint, and The Perth Mint will be entitled to require the Customer to repay the full amount paid (without set-off or deduction) no later than five Business Days from notice of termination, and The Perth Mint will, following receipt and clearance of that repayment (but subject to any applicable legal or regulatory requirements (including to withhold return or deliver the Products to authorities)), return the Products to the Customer within a reasonable period at The Perth Mint’s cost.
4. If the Customer fails to repay an amount required under this clause within the time required :
   1. the termination will remain effective;
   2. the unpaid amount will constitute a debt due and payable by the Customer to The Perth Mint on demand; and
   3. The Perth Mint may take any action available at law or in equity to recover the unpaid amount, including recovery of reasonable enforcement and recovery costs incurred by The Perth Mint.

4.6 Title and risk

1. Risk in the Products passes to The Perth Mint upon physical receipt of the Products by The Perth Mint at the East Perth Premises, whether by way of an over-the-counter transaction or a Remote Transaction.
2. Legal and beneficial title to the Products shall pass to The Perth Mint upon payment of the Fixed Price to the Customer in cleared funds in accordance with clause 8.
3. At the time of signing the Contract, the Customer warrants that:
   1. it has full legal and beneficial ownership of the Products;
   2. the Products are free from any security interest, lien, charge or encumbrance; and
   3. it has full right and authority to sell the Products to The Perth Mint.
4. Nothing in these Terms creates a bailment, trust or fiduciary relationship between the Customer and The Perth Mint prior to title passing under clause 4.6(b).

5. Shipping and insurance

5.1 Postage of products and insurance – remote transactions

1. Where The Perth Mint invites a Customer to deliver Products for receipt and verification pursuant to a Remote Transaction (in accordance with clause 4.2(d)), the Customer must arrange delivery of the Products to the East Perth Premises at the Customer’s own cost and risk.
2. At the Customer’s request, The Perth Mint may assist to arrange an armoured courier in the Customer’s name, provided that all costs associated with delivery are payable by the Customer.
3. Shipments containing the Products should be clearly labelled with the following address details:
   

   Attn: Shop Back Office

   310 Hay Street East Perth WA  6004
   
   Note: The name ‘The Perth Mint’must not be written in the address space or on the parcel.
4. Risk in, and responsibility for, the Products (including all loss, theft, damage or deterioration) remains solely with the Customer at all times during the transit and delivery to The Perth Mint under a Remote Transaction. Risk does not pass to The Perth Mint unless and until physical receipt of the Products occurs in accordance with clause 4.6(a). The Perth Mint will not be liable for any delay, loss or damage occurring during delivery of the Products to the East Perth Premises.
5. If, following receipt and verification of the Products under clause 4.4, The Perth Mint elects not to proceed with the proposed transaction, the Products will be returned to the Customer at the Customer’s cost. Risk in the Products reverts to the Customer on dispatch of the Products.

6. Limitation of liability

1. To the maximum extent permitted by law, The Perth Mint’s total aggregate liability to the Customer arising out of or in connection with a proposed transaction, a Contract, the verification of Products, termination of a Contract under clause 4.5, or otherwise under these Terms (whether in contract, tort (including negligence), statute or otherwise), is limited to:
   1. the Fixed Price payable under the relevant Contract; or
   2. where there is no Fixed Price for the Products, the amount equal to the amount that would be recoverable by The Perth Mint under an applicable insurance policy in respect of the relevant claim.
2. To the maximum extent permitted by law, The Perth Mint will not be liable for any indirect, consequential, special or economic loss, including loss of profits, opportunity, goodwill, market value or anticipated benefit, arising from:
   1. market price movements;
   2. refusal to purchase Products;
   3. verification outcomes;
   4. termination of a Contract in accordance with these Terms; or
   5. delay in processing payment.

7. Australian Goods and Services Tax (GST)

1. The Perth Mint will only transact with Customers at the East Perth Premises where the purchase is for private or domestic nature and therefore exempt from GST, or where the Customer is a GST-registered business selling only bullion products. The Perth Mint may decline to transact at the East Perth Premises with GST registered businesses seeking to sell value-added precious metal products that incur GST.
2. Customers wishing to sell value-added precious metal products that incur GST may do so by lodging them in person at The Perth Mint Refinery, provided certain requirements are met. For more information, please visit the Refinery and Treasury page of the Website.

8. Payments

1. The Perth Mint will only make payment of funds directly to an Australian bank account in the name of the Customer whose name appears on the Contract. No payments will be processed to international bank accounts.
2. Any applicable fees, local taxes, and service charges associated with the Customer’s bank account for the transactions are borne by the Customer.
3. Subject to completion of all required verification, compliance and documentation requirements, to its satisfaction, The Perth Mint will use reasonable endeavours to process payment within fourteen (14) days of receipt of all required payment information.
4. The Customer is responsible for ensuring that all bank account details provided are accurate and complete. The Perth Mint is not liable for delay or non-payment resulting from incorrect or incomplete information supplied by the Customer or events beyond The Perth Mint’s reasonable control.
5. The Perth Mint does not remit cash as payment to settle the Customer’s Contract. 
6. For the purposes of these Terms, “cleared funds” means funds received by the relevant recipient that are not subject to reversal, chargeback, recall, dishonour, restriction or set-off for any reason.

9. Privacy

1. Any personal information submitted by the Customer to The Perth Mint is subject to and will be handled in accordance with The Perth Mint’s Privacy Policy set out on the Website.
2. The Customer agrees that, by entering into a Contract to sell the Products to The Perth Mint, the Customer has read the Privacy Policy, understood its contents and consented to its requirements.

10. Force majeure

10.1 Definition

Under these Terms, “Force Majeure” means any act, event or cause that is beyond the reasonable control of The Perth Mint, including but not limited to an act of God, act of any governmental agency, accident of navigation, war (whether declared or not), sabotage, riot, insurrection, civil commotion, national emergency (whether in fact or law), martial law, fire, lightning, flood, earthquake, landslide, storm or other severe weather conditions, explosion, power shortage, strikes, lock-outs or other industrial disturbance (whether or not involving employees of the party concerned), uncontrollable delays in transportation, inability to obtain any necessary equipment, facilities or qualified employees, epidemic, quarantine, radiation or radioactive contamination, cyber incidents, or the effect of any applicable law, orders, rules or regulations.

10.2 Scope

If The Perth Mint is unable, wholly or in part, to perform any of its obligations under these Terms due to a Force Majeure event:

1. The Perth Mint will give the Customer prompt notice of the Force Majeure event and, to the extent reasonably known, the expected extent and duration of the inability or delay in performance;
2. the affected obligations of The Perth Mint will be suspended for the period and to the extent, that they are affected by the Force Majeure event; and
3. The Perth Mint will resume performance of those affected obligations under these Terms as soon as reasonably practicable after the Force Majeure event ceases to affect performance.

Nothing in this clause affects any rights or risk allocation expressly set out elsewhere in these Terms.

11. Complaints and dispute resolution

1. If the Customer has a complaint in connection with the supply, proposed supply or sale of Products to The Perth Mint, any assessment, testing, valuation or payment determination made by The Perth Mint, or these Terms, the Customer may lodge the complaint by:  
   
   1. submitting the complaint using the Customer Complaints Form available on the Website; or  
   2. contacting The Perth Mint’s Bullion Trading Room by email:
      
      shop.bullion@perthmint.com
2. The Perth Mint may request further information reasonably required to investigate and respond to the complaint (including the relevant Contract or transaction reference number, details of the Products supplied, any valuation or payment advice issued by The Perth Mint, a description of the issue and supporting information). The Perth Mint will acknowledge receipt of the complaint within a reasonable timeframe and will use reasonable endeavours to investigate and respond as promptly as reasonably practicable, having regard to the nature and complexity of the complaint.
3. If a dispute arises between the Customer and The Perth Mint in connection with these Terms, a Contract, the supply or return of Products, or any payment made or payable under a Contract, the Customer and The Perth Mint must use reasonable endeavours to resolve the dispute. Subject to any urgent requirement for interlocutory or injunctive relief from a court of competent jurisdiction, the Customer and The Perth Mint agree to first attempt to resolve the dispute through the complaint process set out in this clause before commencing court proceedings or any other formal dispute resolution process.

12. Severability, entire agreement 

1. If any provision of these Terms becomes invalid by law, regulation or proceeding, all other provisions remain in full force and effect. 
2. These Terms constitute the entire agreement between the Customer and The Perth Mint with respect to the transaction contemplated in these Terms and supersedes and extinguishes all prior oral agreements and understandings between the Customer and The Perth Mint with respect to the transaction. 

13. Governing law and jurisdiction

1. These Terms are governed by the laws of the State of Western Australia and the applicable laws of the Commonwealth of Australia. 
2. The Customer and The Perth Mint submit to the non-exclusive jurisdiction of the courts of that State and courts which hear appeals in those courts. 

14. Variation 

1. The Perth Mint may amend or vary these Terms, from time to time, by publishing an updated version on the Website. The Perth Mint recommends that the Customer review the Terms prior to offering a Product for sale to The Perth Mint and prior to Contract formation to ensure awareness of the terms applying at that time. 
2. The Terms that apply to the Customer’s Contract are those in force at the time the Customer submits its offer (or, for over-the-counter transactions, where the Products are presented for sale). 

15. Waivers and remedies cumulative

1. No failure to exercise and no delay in exercising any right power or remedy under these Terms shall operate as a waiver, nor shall any single or partial exercise of any right, power or remedy preclude any other or further exercise of that or any other right, power or remedy. 
2. The rights, powers and remedies provided to The Perth Mint under these Terms are cumulative and are not exclusive of any rights, powers or remedies provided by law.