This document is an electronic record in terms of Information Technology Act, 2000 and rules there under as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.
The domain name www.goldlane.in (hereinafter referred to as the “Website/App”) is owned by SMJ Solutions Pvt Ltd, a company incorporated under the Companies Act, 2013 with its registered office at No. 39, 2nd Floor, Suite# 623, NGEF Lane, Indiranagar Stage I, Bangalore — 560 038, ("goldlane").
The Website is developed to facilitate buying safe keeping/vaulting and delivery/fulfilment of gold and providing related services thereto that may be offered by goldlane to Customers on or through the Platform (“Services”).
The term “Customer” shall mean an individual, who is willing to avail goldlane’s Services using the Platform and is registered as a ‘customer’ on the Platform.
“Customer Account” shall mean the account created whether by You or otherwise, in accordance with these Terms.
“Customer Account Information” shall mean the information provided by You for the purpose of creation of the Customer Account.
“Customer Request” shall mean a Delivery Request, Sale Request or Exchange Request placed by You in relation to the Customer Gold.
“Dealer” means any person resident in India, in accordance with applicable laws, who is willing to act as an intermediary for goldlane for the delivery of physical possession of gold to the customers.
“Force Majeure Event” shall mean any event that is beyond the reasonable control of goldlane and shall include, without limitation, sabotage, fire, flood, explosion, act of God, civil commotion, strikes, lockouts or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, civil disturbances, unauthorised access to computer data and storage device, computer crashes, virus attacks, breach of security and encryption, and any other similar events not within the control of goldlane and which goldlane is not able to overcome.
“Partnered Store” shall mean and include any gold store associated with goldlane to deliver physical gold in the form of jewelry or deliver vouchers in the event of sale/exchange request made by the customer.
“Person” shall mean an individual, a corporation, a partnership, a joint venture, a trust, an unincorporated organization and any other legal entity.
“Platform” means collectively: (i) the Website or mobile based software applications/programs (goldlane) which any Customer may purchase any gold from goldlane;
“Seller” means Sumangali Jewellers having registered office at which shall store and sell digital gold/deliver physical possession through goldlane.
In addition to the terms defined in Clause 1.6, additional terms used herein shall have the respective meanings assigned thereto in the Terms contained hereinafter.
Use of the Website and/or the Services is available only to Persons who can enter into legally binding contracts under the Indian Contract Act, 1872 and to Persons resident in India. Persons who are "incompetent to contract" within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents and persons of unsound mind are not eligible to use the Website or the Services. Any person under the age of 18 shall not register on the Website and shall not transact on or use the Platform in relation to or for any Services. goldlane reserves the right to terminate any Person’s membership and/or refuse to provide such Person with access 3 to the Website and/or any Services if it is brought to goldlane’s notice or if it is discovered that such Person is not eligible to use the Website and/or any Service.
goldlane reserves the right, at its sole discretion, to change, modify, add or remove portions of these Terms at any time by posting update notification on the Website or on other parts of the Platform and communicating the notification to You in accordance with these Terms. It is Your sole responsibility to review these Terms based on such update notifications. Your continued use of the Website or any Services following the posting of changes shall be deemed to mean that You accept and agree to the revisions. As long as You comply with these Terms, goldlane grants You a personal, non-exclusive, non-transferable, limited privilege to enter and use the Website.
You may not use the Website or avail of the Services using any part of the Platform if You do not accept the Terms or are unable to be bound by the Terms. As a condition of Your access to and use of the Website or the provision of any Services to You using the Platform, You agree that You will comply with all applicable laws and regulations when using the Platform. If goldlane is of the opinion that the Customer Account is being used by You for any unlawful purpose, goldlane shall have the right to take all action available to it, including black-listing or blocking You from using the Services on its Website or blocking Your access to the Services through the Platform or intimating the relevant authorities of such unlawful activities.
The Services by goldlane shall be provided for a term commencing from the date of creation of the Customer Account.
Placing an Order and Verification)
Prior to placing an order, You may be required to provide certain know Your customer (KYC) documentation and other information as may be required by goldlane and in such form and manner as it may deem fit.
Once such documentation and other information is provided by You to goldlane, You shall be entitled to place an order on the Platform (“Customer Order”).
You agree that Your continued use of the Platform, consequent upon the creation of the Customer Account, is subject to verification by goldlane, of the information and documentation provided by You. You hereby grant goldlane permission to conduct such verification, in such form and manner as it may deem fit.
You further acknowledge that goldlane reserves the right for such verification either on registration of the Customer Account or at any time thereafter.
Purchase of Gold
This Website as well as the other parts of the Platform offer Services for Customers who wish to purchase gold for personal consumption in accordance these Terms.
You shall be entitled to purchase gold either directly on the Website using the Platform.
In both cases, You can buy gold at the market linked prices of gold shown on the Platform from the “Seller”. Market linked prices means that these quotes are linked to the prices of gold in the commercial bullion market in India.
It is hereby clarified that such market linked prices of gold shall constitute fully binding offers and would be an invitation to offer to purchase gold at the said market prices to all Customer Account holders. Notwithstanding the foregoing, You understand that these prices may vary multiple times within a day, and accordingly Your payment obligations for any order placed on the Website will depend on the market linked prices then prevailing.
Simultaneous with the placing of the Customer Order, You will be required to make payments through a payment gateway or in such other manner as may be prescribed by goldlane to a no-lien bank account set up by goldlane for the purpose of receiving purchase consideration from Customers (and for no other purpose) (such account being the Collection Account’). It is hereby clarified that once a Customer Order is placed, You are not entitled to cancel a Customer Order, provided however that Customer Order shall stand cancelled if the payment fails for any reason whatsoever in accordance with this Clause 6.3. Upon placing the Customer Order, the Seller shall issue a provisional invoice to You in accordance with these Terms pending realization of money.
Within a period of 1 (One) business day of the Customer Order being placed or such further period as may be required by goldlane, pending receipt of money by goldlane in the Collection Account, You shall be intimated of the Customer Order placed and Your gold account on Your dashboard shall be updated to reflect confirmed gold balance (“Customer Gold Account”). While the balance will reflect in Your dashboard, it will be confirmed only after realization of the payment from You.
If, however, the payments are not received within a period of 2 (Two) business days of placing the Customer Order, You shall be intimated of the same in accordance with these Terms, and the Customer Order shall stand cancelled, and the Customer Gold Account shall accordingly stand amended.
goldlane reserves the right to cancel a Customer Order, at its sole discretion, if Your information, provided prior to placing the Customer Order, is not found acceptable and goldlane is of the opinion that You are not eligible to purchase gold. The Customer Gold Account shall accordingly stand amended. Notwithstanding the foregoing, goldlane also has the right to freeze the Customer Account until it receives KYC and other documentation in a form and manner satisfactory to goldlane.
Once the payments are received by goldlane and the KYC information is found acceptable, goldlane shall issue an invoice to You confirming the Customer Order placed within a period of 3 (Three) business days of placing such order, in a manner it may deem fit.
Notwithstanding anything to the contrary contained in these Terms, goldlane shall be entitled to accept or reject a Customer, for any reason whatsoever, at its sole discretion.
In case of rejection of a Customer Order in accordance with these Terms, where payments have been received by goldlane, such payments shall be returned to You to the bank account indicated by You or in such other manner (depending on how the payment was made by You), subject to the terms and conditions indicated in the Section titled ‘Pricing & Fee’.
Appointment of Intermediaries
goldlane or the Seller after express authorization from goldlane (as the case may be) may from times to time appoint intermediaries who shall assist goldlane in providing the Services to You (“Intermediaries”). The term, “Intermediaries” shall mean the Security Trustee, Vault Keeper and shall include any and all Persons appointed by goldlane or the Security Trustee (as the case may be) upon placement of a Customer Order (and successful payment of monies in lieu thereof) till the consummation of the Customer Requests placed by You in accordance with these Terms. You hereby consent to the appointment of such Intermediaries, for and on Your behalf, by goldlane or the Security Trustee (as the case may be).
You acknowledge and understand that these Intermediaries have been appointed to ensure that Your Customer Orders/Customer Requests are duly complied with in accordance with these Terms. You additionally acknowledge that certain payments will have to be made to these Intermediaries for their appointment and services in relation thereto, which shall be borne by either goldlane or the seller on Your behalf unless otherwise indicated in these Terms.
You agree, undertake and covenant that, during the use of the Website or any other part of the Platform, You shall not host, display, upload, transmit or share any information that:
belongs to another person or entity and to which You do not have any right;
is misleading in any way;
involves the transmission of "junk mail", "chain letters", or unsolicited mass mailing or "spamming";
infringes upon or violates any third party's rights including, but not limited to, intellectual property rights, rights of privacy (including without limitation unauthorized disclosure of a person's name, e-mail address, physical address or phone number) or rights of publicity;
tries to gain unauthorized access or exceeds the scope of authorized access to the Website or any other part of the Platform or to profiles, blogs, communities, account information, bulletins, or other areas of the Website or other parts of the Platform or solicits passwords or personally identifying 5 information for commercial or unlawful purposes from other users of the Website or any other part of the Platform;
interferes with another user’s use of the Website or any other part of the Platform;
refers to any website or URL that, in goldlane’s sole discretion, contains material that is inappropriate for the Website or any other website, contains content that would be prohibited or violates the letter or spirit of these Terms;
deceives or misleads the addressee/ users about the origin of such messages or communicates any information which is grossly offensive or menacing in nature;
contains software viruses or any other computer codes, files or programs designed to interrupt, destroy or limit the functionality of any computer resource; or contains any trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, diminish value of, covertly intercept or steal any system, data or personal information;
violates any law for the time being in force.
You acknowledge that the Services are for Your personal use and agree not to publish the gold prices or descriptions of gold and/or any other information displayed on the Platform (in lieu of Your access to the Platform) on any other medium. You shall not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information, software, products or services obtained from the Services.
goldlane shall not be held liable for any loss of data, technical or otherwise, information, or for particulars supplied by You, due the reasons beyond its control like corruption of data or delay or failure to perform as a result of a Force Majeure Event.
goldlane shall have the sole discretion to determine the locations and pin codes it may want to serve.
goldlane shall have the sole discretion to determine the locations and pin codes it may want to serve.
The provision of Services may be interrupted, including for maintenance, repairs, upgrades, or network or equipment failures. goldlane strives to keep the Services up and running; however, all online services suffer occasional disruptions and outages, and goldlane isn’t liable for any disruption or loss You may suffer as a result.
goldlane may discontinue some or all of the Services, including certain features and the support for certain devices and platforms, at any time.
The Website allows very limited and restricted access to the Services for unregistered users.
You shall have an option to either place an order for gold directly on the Website through the Platform.
Creation of Customer Account on the Platform
For placing an order for any Services, You will have to create the Customer Account on the Platform prior to placing such an order, which can be done either directly by sending a request on the Platform or through an invitation sent by goldlane. As part of the registration process, You will be required to provide certain Customer Account Information and details, including Your mobile number, an e-mail id, password and any other information deemed necessary by goldlane.
While registering with the Website to avail the Services, You shall not:
create any Customer Account for anyone other than Yourself, unless such person's prior permission has been obtained;
use a Customer Account that is in the name of another person with the intent to impersonate that person; and
Your savings are completely safe and hidden from any factors you feel unsafe.
use a name for the Customer Account that is otherwise offensive, vulgar or obscene or unlawful.sssss
You hereby acknowledge that You will be fully responsible for all activities that occur under the Customer Account.
You will be responsible for maintaining the confidentiality of the Customer Account Information, and shall be fully responsible for all activities that occur under the Customer Account. You agree to, (i) immediately notify goldlane of any unauthorised use of the Customer Account Information or any other breach of security; and (ii) exit from the Customer Account at the end of each session. goldlane cannot and will not be liable for any loss or damage arising from Your failure to comply with this Clause. You may be held liable for losses incurred by goldlane or any user or visitor of the Platform due to authorised or unauthorised use of the Customer Account, as a result of your failure in keeping the Customer Account Information confidential.
You shall ensure that the Customer Account Information provided by You in the Platform’s registration form is complete, accurate and up-to-date. Use of another Customer’s account information for availing of any of the Services and/or for use of the Platform is expressly prohibited.
You agree that if You provide any information that is untrue, inaccurate, not current or incomplete, (or becomes untrue, inaccurate, not current or incomplete) or if goldlane has reasonable grounds to suspect that such information is untrue, inaccurate, not current, incomplete, or not in accordance with these Terms, goldlane shall have the right to indefinitely suspend or terminate or block access to the Customer Account on the Platform and refuse to provide You with access to the Platform.
Appointment of Security Trustee
You hereby acknowledge and agree that in order to ensure that Your Customer Orders/Customer Requests are fulfilled in all circumstances, a first and exclusive charge on the Customer Gold by way of hypothecation will be created in favour of Trusteeship Services Limited or any successor Person (“Security Trustee”) as appointed and intimated by goldlane accordingly.
By accepting these Terms, You further agree to accede to the terms for such arrangement with the Security Trustee (i.e., a security trustee agreement) and for creation of the charge over the Customer Gold by way of a deed of hypothecation or the like (collectively, “Security Trustee Agreements”). By clicking on “I Accept”, You acknowledge that You will accede to the Security Trustee Agreements (upon such date) as if You had been named as an original party to the same and had executed each of such Security Trustee Agreements; and will be bound by all the terms and conditions of the Security Trustee Agreements.
In the event of any expenses or charges remaining payable to any Intermediaries or otherwise till actual delivery or fulfilment of any of Your Customer Orders/Customer Requests for any reason, including where goldlane is unable to pay these expenses or charges for any reason whatsoever, thereby adversely effecting or jeopardizing the fulfilment of Your Customer Orders/Customer Requests, then the Security Trustee will be entitled to sell part of the Customer Gold and satisfy such outstanding expenses or charges as required in accordance with these Terms read with the Security Trustee Agreements. The sums due to You and/or gold (as the case may be) to be delivered after settling the aforementioned charges, would be dealt with in accordance with Clause 13 of these Terms read with the Security Trustee Agreements.
By way of these Terms, You authorize the Security Trustee to act on Your behalf to ensure that Your interests are adequately protected.
Safe Keeping/Vaulting of Gold
Gold purchased by You corresponding to the Customer Order shall be stored with the seller in a vault on Your behalf (“Vault Keeper”).
You hereby authorize (i) appointment of such Vault Keeper to safe keep the gold purchased; and (ii) seller to store such gold products purchased by You, including, but not limited to, bullion, coins or jewelry (as the case may be) in the secured vault on Your behalf (“Customer Gold”). It is hereby clarified that Your purchase of the gold corresponding to the Customer Order shall be deemed to be completed and title in relation thereto shall be deemed to have been passed upon such relevant portion of the Customer Gold being stored in the vault with the Vault Keeper on Your behalf or upon a final invoice being issued by goldlane in accordance with these Terms, subject to applicable laws.
To ensure that the Customer Gold stored in such vault is adequately protected, necessary insurance policy/ies has been obtained by the Seller, where the cost of insurance to safe keep the same will be borne by the Seller. Pursuant to such insurance policy/ies, for any loss or damage to the Customer Gold stored in the vault, You further authorize the Security Trustee to act as Your beneficiary under the insurance policy/ies and to take all steps necessary to protect Your interests.
While the Seller has taken the necessary insurance policy/ies, in case of occurrence of an event not covered in such insurance policy/ies, the Customer Gold may be at risk. The broad areas covered by such insurance policy/ies as well as the primary exclusions would be detailed on the Website. It would be Your responsibility to view the Website to check the inclusions and exclusions under such insurance policy/ies.
Delivery of Gold
This Website and other parts of the Platform offer Services for Customers who wish to procure delivery of the Customer Gold in accordance with these Terms.
You shall be entitled to procure delivery of the Customer Gold, either directly on the Website in the form of coins only or a Dealer or a Partnered Store for jewelry/vouchers using the Platform (being authorized by You to do so on Your behalf) (“Delivery Request”).
Upon placing the Delivery Request, You shall be required to pay for the applicable delivery charges along with making charges and confirm the Delivery Request, in a form and manner acceptable to goldlane. Your Customer Gold Account shall be provisionally debited corresponding to the quantity of the Customer Gold sought to be delivered (“Delivered Customer Gold”).
Within a period of 7 (Seven) business days of the Delivery Request being confirmed or such further period as may be required by goldlane, goldlane shall arrange for delivery of the Delivered Customer Gold either through the seller or through its dealers at the shipping address indicated by You. You shall be solely responsible for ensuring that the correct address is furnished by You on the Platform for processing such Delivery Request. You shall not be entitled to change the shipping address after the Delivery Request is processed by goldlane.
Notwithstanding the foregoing, You shall have the option to change the shipping address, before the Delivered Customer Gold is actually shipped. In the event You wish to change the shipping address, You have to log-in to Your Customer Account on the Platform and make such request in a form and manner indicated by goldlane and shall provide supporting documentation/information for the new address, as may be required by goldlane.
You should carefully examine the package delivered and shall not accept deliveries where the packaging has been tampered with. If, however, You are of the view that the package delivered has been tampered with, You shall be required to intimate goldlane immediately of the same, and provide such other information as may be required by goldlane in this regard (“Return Request”). Within a period of 10 (Ten) business days of Return Request being placed (with the original package of Delivered Customer Gold being delivered to goldlane, in a manner indicated by goldlane), and the same being approved by goldlane, goldlane shall arrange for re-delivery of the Delivered Customer Gold at the shipping address indicated by You. The costs for such shipping shall be borne by goldlane alone, and not by You. However, in the event of frivolous and unjustified Return Requests made by You, goldlane reserves the right to take all action available to it, including black-listing or blocking You from using the Services on its Website or on any other part of the Platform.
You, upon signing the delivery receipt, acknowledge the receipt of the Delivered Customer Gold in terms of the Delivery Request placed with goldlane. goldlane shall not be liable to You for any refund/replacement, under any circumstance, for any subsequent complaints with respect to such deliveries and/or any failure on your part (as the case may be) to comply with these Terms.
Upon receipt of the delivery confirmation by goldlane, the Customer Gold Account shall be finalized by debiting the Delivered Customer Gold from the Customer Gold Account.
It shall be Your responsibility to ensure that You are available to receive the Delivered Customer Gold at the time of delivery. If You are not available at the time of delivery, goldlane/ courier agent may try and deliver the item again before returning the same to goldlane. In case of return of the Delivered Customer Gold to goldlane, Customer Gold Account shall be credited for the Delivered Customer Gold, provided however that goldlane is of the opinion that the packaging has not been tamped with. It is hereby clarified that should a request for re-delivery be made by You, You shall be solely liable to incur the applicable delivery charges for delivering the Delivered Customer Gold.
In case of goldlane’s inability to make deliveries of Delivered Customer Gold due to a Force Majeure Event, goldlane shall intimate You of the same and may require that the deliveries be effectuated through specific modes. In such a case, You hereby agree to bear any additional costs and fees necessary for the delivery to be complete.
goldlane will not be able to deliver a fractional quantity of gold below such threshold as goldlane shall notify for this purpose even if a Customer Request is made for such fractional quantity (“Threshold Quantity”). You are advised to check the Website periodically to determine the Threshold Quantity as the same may be revised from time to time. In the event that any Customer Gold below the Threshold Quantity is to be delivered to you, then please note that such Customer Gold shall instead be sold by goldlane based on the sale prices displayed on the Platform and You will instead receive the applicable sale proceeds in Your bank account, details of which are provided by You. If there is any mistake in the account number provided by You, goldlane would not be held responsible for the same.
Certain products or services may be available exclusively online through the webSite/App. These products or services may have limited quantities and are subject to return or exchange only according to our Return Policy.We have made every effort to display as accurately as possible the colors and images of our products that appear at the store/App. We cannot guarantee that your computer monitor’s display of any color will be accurate.
We reserve the right, but are not obligated, to limit the sales of our products or Services to any person, geographic region or jurisdiction. We may exercise this right on a case-by-case basis. We reserve the right to limit the quantities of any products or services that we offer. All descriptions of products or product pricing are subject to change at any time without notice, at the sole discretion of us. We reserve the right to discontinue any product at any time. Any offer for any product or service made on this Site/App is void where prohibited.
You are required to take delivery of Your Customer Gold within such maximum period as shall be specified for this purpose by goldlane from time to time in the Pricing and Fees section of the Platform (“Maximum Storage Period”). For the purposes of making delivery to You, You are required to provide a valid address and/or any other documents/information that may be specified in this regard by goldlane on the Platform from time to time. You may provide such address to goldlane at any time during the Maximum Storage Period. In the event that no valid address has been provided by You during the Maximum Storage Period, then goldlane shall for a period 1 year commencing from the date of expiry of Maximum Storage Period of 5 years(such period being the “Grace Period”) attempt at least once to contact You using the contact information provided by You to goldlane to obtain either (i) an address to which You would require the gold in question to be delivered or (ii) Your bank account details into which sale proceeds of the Customer Gold shall be deposited. In the event that goldlane has not been able to contact You during the applicable Grace Period using the contact information provided by You or where You shall during the Grace Period either fail to:
take delivery of the gold in question for any reason whosoever (including where You shall not have provided any address to take delivery of such gold).
provide the details for a valid bank account into which the proceeds of any sale of such Customer Gold is to be deposited; hen upon expiry of the applicable Grace Period for the Customer Gold in question, goldlane shall purchase such Customer Gold with the purchase price being the applicable prevailing price notified by goldlane on the Platform for purchase of gold from Customers. The purchase proceeds realized from such sale (“Final Sale Proceeds”) after deducting any amounts payable to goldlane as storage charges for storage of such gold after the Free Storage Period, shall be deposited into a no-lien bank account operated by the Security Trustee who shall be the sole signatory to such bank account. In the event that You shall during a period of 3 years commencing from the date of expiry of the applicable Grace Period (such period being the“Final Claim Period” ) notify either goldlane or the Security Trustee that You are claiming the applicable Final Sale Proceeds, the Security Trustee shall issue suitable instructions to transfer the Final Sale Proceeds to such bank account as You shall notify for this purpose. Please note that to claim the Final Sale Proceeds You will be required to provide details of a valid bank account and that the Final Sale Proceeds will not be transferred in the absence of such details. At no time will the Final Sale Proceeds be paid to you in cash. In the event that You shall not claim its Final Sale Proceeds within the Final Claim Period, then the Final Sale Proceeds shall be transferred to the Prime Minister’s Relief Fund or such other fund as You may designate for this purpose at any time prior to the expiry of the Grace Period.
Sale of Customer Gold
You may be provided an option to sell the Customer Gold during market hours based on the sale prices on the Platform, either directly on the Website using the Platform (being authorized by You to do so on Your behalf). If the prices are found acceptable to You, You shall confirm the sale request, in a form and manner acceptable to goldlane (“Sale Request”). Your Customer Gold Account shall be debited corresponding to the quantity of the Customer Gold sought to be sold vide the Sale Request (“Sold Customer Gold”).
Within a period of 5 (Five) business days of the Sale Request being confirmed or such further period as may be required by goldlane, the payment, pursuant to the Sale Request, shall be disbursed by goldlane at the sale prices indicated at the time of placing such Sale Request. goldlane shall arrange for such payments to be made to Your bank account, details of which are provided by You. If there is any mistake in the account number provided by You, goldlane would not be held responsible for the same.
It is hereby clarified that goldlane will provide this service on a best efforts basis and only when the commercial bullion market is in operation. goldlane does not in any way guarantee that this option will be available to You at all times. Further, the buyer of the Sold Customer Gold may be either goldlane or another party (being interested in buying the Sold Customer Gold) or the seller itself. goldlane shall not be held liable for any actions of such third-party purchaser.
You will be provided with free storage for your Customer Gold for such period as more particularly stipulated by goldlane in this regard from time to time at its sole discretion and notified to Customers in the Pricing and Fees section of the Platform (“Free Storage Period”). After the expiry of the Free Storage Period, goldlane shall be entitled to levy storage charges for such Customer Gold at such rate as goldlane shall have specified at its sole discretion in the Pricing and Fees section of the Platform from time to time. You are advised to periodically check the Pricing and Fees section of the Platform to understand these storage charges and the time within which You would be required to make payment of such storage charges. In the event that You fail to make payment of any storage charges within the time stipulated in this regard, goldlane shall be entitled to sell such portion of Your Customer stored gold with the Seller that is necessary or required to recover the unpaid storage charges in question.
While reasonable efforts will be made to offer You a competitive price for the Customer Gold, there is no guarantee that the price offered to You will be close to or comparable with other prices available in the market.
Exchange for jewellery
You may be provided an option to choose one of the standard pieces which are available against the Customer Gold sought to be exchanged for jewellery or gift vouchers with the Seller or Partnered Store by goldlane, either directly on the Website (“Seller” or “Partnered Store”), details of which shall be intimated by goldlane to You. If any specified jewellery pieces or gift vouchers are found acceptable to You, You shall place the request and indicate the relevant jewellery piece or gift voucher, in a form and manner acceptable to goldlane (“Exchange Request”). Your Customer Gold Account shall be provisionally debited corresponding to the quantity of the Customer Gold sought to be exchanged vide the Exchange Request (“Exchanged Customer Gold”). It is hereby clarified that any costs request to be paid by You pursuant to the Exchange Request shall be as per the terms indicated by Seller/Partnered Store to You.
Within a period of 3 (Three) business days of the Exchange Request being confirmed or such further period as may be required by goldlane, goldlane shall intimate the seller/partnered store of such Exchange Request who shall arrange for delivery of the specified jewellery piece or gift voucher to the relevant shipping address indicated by You, pursuant to the Exchange Request. You shall be solely responsible for ensuring that the correct address is furnished by You on the Website or through the Platform for processing such Exchange Request. You shall not be entitled to change the shipping address after the Exchange Request is processed by goldlane. Notwithstanding the foregoing, You shall have the option to change the shipping address, before the jewellery piece or gift voucher is actually shipped by the Empanelled partnered store/seller. In the event You wish to change the shipping address, You have to log-in to Your Customer Account on the Website or otherwise access Your Customer Account through the Platform and make such request in a form and manner indicated by goldlane and shall provide supporting documentation/information for the new address, as may be required by goldlane.
You understand and agree that once You have placed an Exchange Request for exchanging Customer Gold with jewellery piece or gift voucher from the seller/partnered store, the delivery of such jewellery piece or gift voucher shall be in accordance with the delivery policies of the Seller/partnered store. Similarly, in the event You are not satisfied with the jewellery piece delivered to You, any exchange or refund will also be subject to the policies of the Seller/Partnered Store and goldlane is not responsible or liable for the actions of the Seller at any point including delivery, workmanship or quality. You further agree and acknowledge that, once Your Exchange Request is processed by goldlane and communicated to the Seller/Partnered Store, You cannot claim refund or return of Your Customer Gold for which such Exchange Request was placed with the Seller/Partnered Store.
Upon the Seller/Partnered Store confirming Your Exchange Request, the Customer Gold Account shall be finalized by debiting the Exchanged Gold Account from the Customer Gold Account. goldlane shall not be liable to You for any refund/replacement, under any circumstance, for any subsequent complaints with respect to such Exchange Request, deliveries and/or any failure on Your part to comply with these Terms.
Notwithstanding anything to the contrary contained in these Terms, goldlane shall be entitled to reject a Customer Request which is not in compliance with the Terms hereof, and shall intimate the reasons for the same.
Based on the changes made to the Customer Gold Account (in lieu of the Customer Orders and/or Customer Requests), if You are of the opinion that the changes made thereto do not tally with the Customer Orders and/or Customer Requests placed by You, You may write to us at [firstname.lastname@example.org]. goldlane shall accordingly take all necessary actions for taking care of any such identified discrepancies, in a form and manner to be intimated by goldlane to You.
It is hereby clarified that the Customer Gold cannot be pledged or transferred by You to any other user, and the Customer Gold Account is non-transferrable, unless specifically allowed by goldlane. If specifically allowed by goldlane the title to such Customer Gold lying in the vault and the Customer Gold Account shall transfer to Your legal heirs only after the required due diligence has been conducted. Subsequent to this, Your legal heir(s) shall be regarded as the Customer for the purpose of the Customer Gold and Customer Gold Account thereafter and the Terms shall be applicable to Your legal heir(s).
goldlane shall facilitate the consummation of the Customer Order(s) and/or Customer Request(s) using the Website and the Services or using the Platform. It is however clarified that all such purchase and fulfilment transactions are final and non-reversible, unless otherwise indicated in these Terms.
It is hereby clarified that the Website displays the articles that are available for shopping. Some items may appear slightly larger or smaller than actual size due to screen defaults and photography techniques. goldlane shall not be liable for any legal action on this account. It shall be the endeavour of goldlane to ensure that all details regarding the product are clearly displayed on the Platform.
Due to reasons not directly attributable to goldlane, data may be inaccurately displayed on the Platform due to system errors , then either due to system error in such part of the Platform making or committing any error in accurately displaying any data provided by goldlane. goldlane reserves the right to correct any and all errors when they do occur, at its sole direction, and goldlane shall be entitled to not honour any requests/orders placed by You based on any inaccurate or erroneous prices.
The prices quoted on the Platform are fixed and not negotiable. The prices on the Platform are also subject to change without notice to You.
You agree that use of the Platform is at your sole risk. While we will take all reasonable precautions to ensure uninterrupted and error-free operations, your access and use of the Platform is at your sole risk. We are not responsible if information made available on this Site/App is not accurate(except for commodity price), complete or current. The material on this Site/App is provided for general information only and should not be relied upon or used as the sole basis for making decisions without consulting primary, more accurate, more complete or more timely sources of information. Any reliance on the material on this Site/App is at your own risk. This Site/App may contain certain historical information. Historical information, necessarily, is not current and is provided for your reference only. We reserve the right to modify the contents of this Site/App at any time, but we have no obligation to update any information on our Site/App. You agree that it is your responsibility to monitor changes to our Site/App.We and our licensors, suppliers, vendors, parent, holding, subsidiary and related companies, affiliates, officers, agents and employees expressly disclaim all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement. In no event shall we’ll be liable for any direct, indirect, incidental, special, punitive, consequential damages, or any damages whatsoever even if we have been advised of the possibility of damages.
MODIFICATIONS TO THE SERVICE AND PRICES
Prices for our products are subject to change without notice. Prices vary on market rates. We reserve the right to modify or discontinue the Service (or any part or content thereof) without notice at any time. We shall not be liable to you or to any third-party for any modification, price change, suspension or discontinuance of the Service.
ACCURACY OF BILLING AND ACCOUNT INFORMATION
We reserve the right to refuse any order you place with us. We may, in our sole discretion, limit or cancel quantities purchased per person, per household or per order. These restrictions may include orders placed by or under the same customer account, the same credit card/debit card/internet banking/other payment methods, and/or orders that use the same billing and/or shipping address. In the event that we make a change to or cancel an order, we may attempt to notify you by contacting the e-mail and/or billing address/phone number provided at the time the order was made. We reserve the right to limit or prohibit orders that, in our sole judgment, appear to be placed by dealers, resellers or distributors.
You agree to provide current, complete and accurate purchase and account information for all purchases made at our store/App. You agree to promptly update your account and other information, including your email address and credit card/debit card/internet banking/other payment methods numbers and expiration dates, so that we can complete your transactions and contact you as needed. Once the billing is made no information can be changed.
You hereby agree that You shall be liable for all fees and charges associated with the use of the Platform and Services. Further details of the fees payable (including, but not limited to the terms pertaining to such fees and the quantum thereof), has been set out in the Section on the Platform entitled ‘Pricing and Fees’. Please note that the fees and charges may be revised from time to time and it would be Your responsibility to view the Platform to check the then current fees and charges payable.
It is hereby clarified that fees and charges, once paid, are non-refundable
All payments made for the use of the Platform and/or purchase of Customer Gold by You shall be compulsorily in Indian Rupees.
Lack of authorization for any transaction(s).
Exceeding the preset limit mutually agreed by You and between bank/s and/or other institutions used by you in making payment, or
Any payment issues arising out of the transaction, or
Rejection of transaction for any other reason(s) whatsoever
goldlane holds the authority to temporarily/permanently suspend/terminate the Customer Account or refuse access in case of non-payment of fees due by You to goldlane. Without limitation to the other rights and remedies available to goldlane, it also reserves the right to take legal action for the same.
You understand and acknowledge that the Services are being provided and made available on an “AS IS” and “AS AVAILABLE” basis. The Website and/or any other part of the Platform may contain errors or inaccuracies that could cause failures, corruption or loss of data and/or information from Your device and from peripherals (including, without limitation, servers and computers) connected thereto. You assume all risks and costs associated with Your use of the Services, including without limitation, any costs incurred for the use of Your device and any damage to any equipment, software or data.
You hereby by way of accepting these Terms consent to the receipt of communication and newsletters from goldlane by way of e-mails and/or SMS notifications. You are required to intimate goldlane immediately of any changes to Your e-mail or mobile phone numbers. By accepting these Terms, You further authorize goldlane to get in touch with You for communication and promotions, despite any Do Not Disturb requests made by You.
The Platform may allow You to post Your review and experience of using the Platform ("Reviews") in order to improve the Platform and the user experience.
You, being the originator of the Reviews, are responsible for the Reviews that You upload, post, publish, transmit or otherwise makes available on the Platform. You represent that all such Reviews will be in accordance with applicable law. You acknowledge that goldlane does not endorse any Reviews on the Platform and is not responsible or liable for any Reviews. goldlane reserves the right to disable access to the Reviews on the Website to disable access on any part of the Platform.
You hereby grant goldlane a perpetual, non-revocable, worldwide, royalty-free and sub-licensable right and license to use, copy, distribute, display, publish, transmit, make available, reproduce, modify, adapt the Reviews in any manner as deemed appropriate by goldlane in any form including but not limited to print, broadcast, online and across any and all websites and platforms owned by goldlane.
You further represent and warrant that while posting any Reviews on any part of the Platform You shall not use any offensive, libellous, derogatory, hateful or racially or ethnically objectionable language. Further, You shall not post any content on any part of the Platform that is obscene, pornographic, constitutes an “indecent representation of women” as provided in the Indecent Representation of Women (Prohibition) Act, 1986.
The Website or any other part of the Platform may contain links and interactive functionality interacting with the websites of third parties. goldlane is not responsible for and has no liability for the functionality, actions, inactions, privacy settings, privacy policies, terms, or content of any such website. Before enabling any sharing functions to communicate with any such website or otherwise visiting any such website, goldlane strongly recommends that You review and understand the terms and conditions, privacy policies, settings, and information-sharing functions of each such third-party website. for the functionality, actions, inactions, privacy settings, privacy policies, terms, or content of any such website and/or mobile based software applications/programs (as may be applicable) and/or any liability whatsoever in relation to Your use of such website and/or mobile based software applications/programs (as may be applicable) save and except to the extent expressly set out in these Terms. Before enabling any sharing functions to communicate with any such website or otherwise visiting any such any such website and/or mobile based software applications/programs (as may be applicable), goldlane strongly recommends that You review and understand the terms and conditions, privacy policies, settings, and information-sharing functions of such any such website and/or mobile based software applications/programs (as may be applicable).
You shall be entitled to terminate the Customer Account by contacting goldlane at [email@example.com].
These Terms shall further stand terminated:
if goldlane is adjudged bankrupt or declared insolvent;
if goldlane ceases to carry on its business or has communicated to the Security Trustee any intention to cease to carry on its business;
if goldlane ceases to carry on its business or has communicated to the Security Trustee any intention to cease to carry on its business;
if goldlane breaches any of the terms and conditions under the Security Trustee Agreements or Terms and goldlane does not remedy such breach within 60 (Sixty) days of being called upon to do so by the Security Trustee;
upon any corporate action (excluding any third party corporate action), legal proceedings or other procedures or steps being taken in relation to the suspension of payments, winding up, dissolution, administration, provisional supervision or reorganization or restructuring (by way of voluntary arrangement, scheme of arrangement or otherwise) of goldlane;
upon goldlane commencing a voluntary proceeding under any applicable bankruptcy, insolvency, winding up or other similar applicable law now or hereafter in effect, or consenting to the entry of an order for relief in an involuntary proceeding under any such applicable law, or consenting to the appointment or taking possession by a receiver, liquidator, assignee (or similar official) for the whole or a substantial part of its property or takes any action towards its re-organization, liquidation or dissolution;
upon an order being made for the winding up, bankruptcy or dissolution of goldlane, or an application is admitted for initiating any corporate insolvency resolution process against goldlane in accordance with Applicable Law;
upon any encumbrancer lawfully taking possession, or a liquidator, judicial custodian, receiver, administrative receiver or trustee or any analogous officer having been appointed in respect of the whole or a substantial part of the property of goldlane, or an attachment, sequestration, distress or execution (or analogous process) being levied or enforced upon or issued against whole or a substantial part of the /static/assets or property of goldlane, or any action has been taken or suffered against goldlane towards liquidation or dissolution or similar reorganization; or
upon a liquidator or provisional liquidator being appointed to goldlane or a receiver, receiver and manager, trustee or similar official being appointed in respect of goldlane or any of its /static/assets, or an event analogous.
Upon the happening of any of the events referred to in Section 14.3, and where there is any insufficiency of goldlane funds required to pay any costs and expenses to be incurred in relation to providing delivery of Your Customer Gold to You, then in such an event You do hereby authorise the Security Trustee to sell any part of the Customer Gold, that is necessary or required to defray such costs and expenses.
Pursuant to the Security Trustee Agreements goldlane has created a charge by way of hypothecation in favour of the Security Trustee for the benefit of the Customers over: (a) the monies lying in the Collection Account from time to time; and (b) gold purchased by goldlane from time to time and lying with the Vault Keeper or in transit and, which is the property of goldlane; (collectively “Security”). Upon the occurrence of any of the events detailed in Section 14.1, the Security Trustee under the Security Trustee Agreements is to: (i) declare all outstanding amounts as due and payable to the Security Trustee forthwith; and (ii) take charge and/or possession of, seize, recover, receive and remove the Security and use the same to discharge any liability of goldlane to the Customers. You however expressly understand and acknowledge that any enforcement of the Security would always be subject to and undertaken in accordance with the provisions of Applicable Law and therefore:
it is not possible to accurately predict the time required to make any such distribution; and/or
the amount received by You from such distribution may not be sufficient to completely extinguish goldlane’s liability to You; and consequently, no liability shall accrue to the Security Trustee in relation to the above.
Upon such termination for any reason whatsoever, subject to these Terms read with the Security Trustee Agreements:
Fractional amounts for gold holdings of less than 1 (One) gram may be sold and cash in pursuance thereto will be sent directly to Your bank account, after deducting all the requisite charges relating to appointment of Intermediaries (including but not limited to charges due and payable to Intermediaries and any other out of pocket expenses, custody charges, minting and delivery charges) (“Charges”).
For larger gold holdings, the Security Trustee shall (to the extent You have not already paid for all the Charges) be allowed to sell part of Your gold to pay for all the Charges to all the Intermediaries. The remaining portion of the gold shall be delivered to You in accordance with these Terms, along with the details of the deductions made and the quantum of gold that You are entitled to receive.
You acknowledge that the termination of Your access to the Website and Services may be affected without any prior notice, and goldlane may immediately deactivate or delete the Customer Account and all related information and/or bar any further access to the Customer Account, the Website or the Services. Further, You agree that goldlane shall not be liable for any discontinuation or termination of Services by any third party
None of Your content shall remain accessible on the Website upon termination. This information cannot be recovered by You, once the account is terminated.
The disclaimer of warranties, the limitation of liability, and the governing law provisions shall survive any termination of these Terms.
THE WEBSITE AND ALL INFORMATION, CONTENT, MATERIALS AND SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THE PLATFORM (COLLECTIVELY, THE "CONTENTS") ARE PROVIDED BY goldlane ON AN "AS IS," "AS AVAILABLE" BASIS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND. goldlane MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE OPERATION OF THE PLATFORM, THE ACCURACY OR COMPLETENESS OF THE CONTENTS AND THE ACCURACY OF THE INFORMATION. goldlane SHALL HAVE NO RESPONSIBILITY FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY CONTENT, MATERIALS, DOCUMENT OR INFORMATION OR ANY OTHER LOSSES INCURRED BY YOU FOR USE OF THE WEBSITE. YOU EXPRESSLY AGREE THAT THE USE OF THE PLATFORM IS AT YOUR SOLE RISK. goldlane WILL NOT BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM THE USE OF THE PLATFORM OR THE SERVICES OR THE CONTENTS INCLUDING, WITHOUT LIMITATION, DIRECT, INDIRECT, CONSEQUENTIAL, PUNITIVE, AND CONSEQUENTIAL DAMAGES, UNLESS OTHERWISE SPECIFIED IN WRITING. TO THE FULL EXTENT PERMITTED BY LAW, goldlane DISCLAIMS ANY AND ALL REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE PLATFORM (OR ANY PART THEREOF) AND ITS CONTENTS, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF TITLE, MERCHANTABILITY, AND FITNESS FOR A PARTICULAR PURPOSE OR USE.
You hereby acknowledge that goldlane (including but not limited to its, directors, employees, agents or partners) shall not be held liable to You for any special, consequential, incidental, and exemplary or punitive damages, or loss of profit or revenues. goldlane shall also not be liable under any circumstances for damages arising out or related in any way to Your inability to access, or Your difficulty in accessing the Platform or any bugs, viruses, trojan horses, or the like, which may be transmitted to or through the Platform by any third party, any loss of Your data, any claim relating to Your data or content from the Services, Your failure to keep the Customer Account Information secure and confidential. You further agree that goldlane shall not be held responsible in any manner whatsoever for any and all acts of the Intermediaries.
goldlane solely and exclusively owns copyrights, trademarks, service marks, logos, trade names, and other intellectual and proprietary rights associated with the Services and content on the Website as well as any content provided by goldlane and displayed on/accessed via (i) any internet website(s) operated by any third party to avail of any Services; and/or (ii) any mobile based software applications/programs offered by such third party to avail of any Services is protected under Indian law.
You hereby acknowledge that the Services constitute original works and have been developed, compiled, prepared, revised, selected, and arranged by goldlane through the application of methods and standards of judgment developed and applied through the expenditure of substantial time, effort, and money and constitutes valuable intellectual property of goldlane and such others. You thereby agree to protect the proprietary rights of goldlane during and after the term of these Terms. You may not selectively download portions of the Platform without retaining the copyright notices. You may download material from the Platform only for the purpose intended by these Terms.
Any infringement shall lead to appropriate legal proceedings against You at appropriate forum for seeking all available remedies under applicable laws of the country.
These Terms shall be governed by and interpreted and construed in accordance with the laws of India. The courts of Bangalore shall have exclusive jurisdiction over any disputes arising under these Terms. In the event of any dispute arising out of these Terms the same shall be settled by a binding arbitration conducted by a sole arbitrator, appointed jointly by both parties and governed by the Arbitration and Conciliation Act, 1996. The venue of arbitration shall be Bangalore, Karnataka, India.
It is expressly agreed by the parties that goldlane may assign all or part of its rights or duties under these Terms without such assignment being considered a change to these Terms and without notice to You, except to the extent provided by law.
Please note that these Terms may be amended from time to time by goldlane as follows. In the event that any change/ amendment is to be made to the Terms and which is not adverse or detrimental to the You, then You would be provided 7 days’ prior notice to such changes/ amendments. In the event, any proposed changes or amendments to the Terms are adverse to or in any way detrimental to the You, then goldlane shall provide You with 14 days’ prior notice requiring You to opt out of the agreement/understanding on which goldlane would provide the Services to You as recorded in these Terms. In the event that You do not respond to any such proposed change/amendment stating that You do not accept such change/amendment and wish to opt out of the Terms, then You would be deemed to have consented to such proposed change or amendment to these Terms.