Conditions for the Purchase of Investment Gold and Silver

The final buyback price is determined only after physical receipt of the product, verification of its authenticity, condition, weight, fineness, origin and tradability, and after any AML/KYC requirements have been met.

1. Introductory information

1.1 Buyback of investment gold and silver

Baumann Group a.s. (GOLDU®) offers the buyback of investment gold and investment silver under transparent and fair conditions. The buyback applies in particular to investment gold bars, investment gold coins, silver bars and selected investment silver coins.

1.2 Buyback prices

Current buyback prices of gold bars, silver bars, investment coins and other selected products may be stated with individual products on the Baumann Group a.s. (GOLDU®) website. Buyback prices change continuously in line with developments in world markets, the current price of precious metals and the availability of specific products.

1.3 Individual price offer

If no buyback price is stated for a specific product, Baumann Group a.s. (GOLDU®) will prepare an individual price offer according to the type of product, its condition, origin, fineness, weight and the current market situation.

1.4 Details needed for faster processing of the enquiry

For faster processing of the enquiry, we recommend stating in particular:

• the refinery or mint,
• weight,
• fineness,
• type of product,
• number of pieces,
• information about packaging, certificate or serial number, if available.

Attached photos of the product, packaging and any certificate can speed up and refine the assessment process.

2. Buyback conditions

2.1 Products purchased

Baumann Group a.s. (GOLDU®) purchases in particular original, complete and undamaged investment products. These are primarily investment gold bars, investment gold coins, silver bars and selected investment silver coins.

2.2 Damaged product

A damaged product is considered to be in particular:

• a product with a cracked or broken package,
• significantly damaged packaging,
• a product suspected of tampering with the protective packaging,
• a product damaged mechanically, chemically or in another way,
• a product in a condition not corresponding to the usual standard of safe buyback of investment precious metals.

Damage to the product, incomplete packaging, a missing certificate, damaged protective packaging or other defects may affect the buyback price or the possibility of buyback.

2.3 Certificate and accompanying documents

If a certificate of authenticity, an assay card or another accompanying certificate has been issued for the product, Baumann Group a.s. (GOLDU®) is entitled to require its submission together with the product being sold. Failure to submit the certificate, assay card or other accompanying document may affect the assessment of the product, its tradability, the buyback price or the possibility of buyback.

2.4 Products Baumann Group a.s. (GOLDU®) usually does not purchase

Baumann Group a.s. (GOLDU®) usually does not purchase:

• jewellery,
• technical gold,
• scrap gold,
• industrial materials containing precious metals,
• products of unclear origin,
• products with doubts about authenticity or fineness,
• products whose origin, condition or ownership cannot be safely verified.

2.5 Right to refuse a buyback

Baumann Group a.s. (GOLDU®) is entitled to refuse the buyback of a product where reasonable doubts arise as to its:

• authenticity,
• origin,
• fineness,
• condition,
• weight,
• ownership,
• tradability,
• or other decisive parameters of the product.

2.6 Ownership of the product

The seller is responsible for being the rightful owner of the offered product and for the product not being encumbered by third-party rights. The seller is further responsible for the truthfulness, completeness and accuracy of all information and documents handed over to Baumann Group a.s. (GOLDU®) in connection with the buyback.

2.7 Proof of origin and ownership

Baumann Group a.s. (GOLDU®) is entitled to require proof of the acquisition title, tax documents or other documents proving ownership and origin of the product. Failure to submit the requested documents may be grounds for refusing the buyback.

3. In-person buyback of investment gold and silver

3.1 Prior arrangement

In-person buyback is possible only by prior arrangement with Baumann Group a.s. (GOLDU®).

3.2 Place of in-person buyback

In-person buyback takes place at the address (identical to the seller's registered office):

• Baumann Group a.s. (GOLDU®)
• BETA building – Brumlovka
• Vyskočilova 1481/4, 140 00 Prague 4, Czech Republic

3.3 Arranging a time

A time for in-person buyback can be arranged by e-mail at info@goldu.eu or by phone at +420 601 359 200; for further options see Contact.

3.4 Product check

During in-person buyback, Baumann Group a.s. (GOLDU®) verifies in particular the authenticity, condition, weight, fineness, origin and basic parameters of the offered product.

3.5 Determination of the buyback price

The buyback price is determined in particular by:

• the current market value of the precious metal,
• the type of product,
• weight and fineness,
• manufacturer, refinery or mint,
• origin of the product,
• condition of the product and packaging,
• the result of the authenticity check,
• the current tradability of the product,
• the current market situation.

3.6 Payment of the buyback price

After agreement on the buyback price, the amount may be paid:

• in cash,
• or by bank transfer to a bank account held in the seller's name,

always in accordance with applicable law, AML/KYC obligations and the agreement of the parties. The tax regime of the buyback is governed by applicable law and may differ according to the type of product, the seller's status and the nature of the transaction.

3.7 Camera surveillance

The entire in-person buyback process takes place under camera surveillance with recording, for reasons of security, protection of property and persons, and dispute prevention. More detailed information on the processing of personal data is provided in the document Privacy Policy (GDPR).

4. Formation of the contract, non-binding nature of the enquiry and absence of a legal claim

4.1 Non-binding enquiry

Submitting the form, an e-mail or other preliminary communication does not create a purchase contract between the parties or an obligation of Baumann Group a.s. (GOLDU®) to carry out the buyback.

4.2 Nature of the enquiry

By submitting the enquiry, the seller sends only a non-binding request to assess the possibility of buyback.

4.3 Formation of the buyback contract

The buyback contract arises only after:

• verification of the product,
• confirmation of the buyback price by Baumann Group a.s. (GOLDU®),
• the seller's agreement to the buyback price,
• fulfilment of any AML/KYC requirements,
• fulfilment, where applicable, of other legal or security conditions.

4.4 Absence of a legal claim to buyback

There is no legal claim to buyback of a product by Baumann Group a.s. (GOLDU®). Baumann Group a.s. (GOLDU®) assesses each offered product individually according to its type, condition, origin, authenticity, weight, fineness, tradability, the current market situation and the result of the AML/KYC check.

5. AML/KYC and the seller's cooperation

5.1 Client identification and verification

Baumann Group a.s. (GOLDU®) is entitled, before carrying out the buyback, to require identification of the seller, further verification and cooperation to the extent required by law, in particular in the area of AML/KYC. Details are provided in the document AML information for clients.

5.2 Impossibility of fulfilling statutory obligations

If it is not possible to fulfil statutory obligations, verify the origin of the product or confirm the declared parameters, Baumann Group a.s. (GOLDU®) is entitled not to carry out the buyback.

5.3 Refusal of the buyback

Baumann Group a.s. (GOLDU®) is entitled to refuse the buyback also where carrying it out would be contrary to:

• legal regulations,
• sanctions regulations,
• a sanctions risk or suspicion of a link to a sanctioned person or entity,
• the company's internal rules,
• the company's security requirements,
• the company's risk-management rules.

5.4 Proof of the product's origin

Baumann Group a.s. (GOLDU®) is entitled to require information and documents proving the origin of the product being sold, ownership of the product or authorisation to dispose of the product.

5.5 PEP, sanctions lists and further checks

In justified cases, a client check may be carried out against politically exposed persons databases, sanctions lists and other databases used to fulfil AML obligations.

5.6 Limitation on communicating the reason for refusal

Baumann Group a.s. (GOLDU®) is entitled to refuse the buyback also where communicating the specific reason could be contrary to legal regulations, AML obligations, security rules or the company's internal risk management. In some cases, the company may not be entitled to communicate to the seller the specific reason for refusal or further procedure, if this could result in a breach of legal regulations or obligations in the area of AML.

6. Important notices

6.1 Unannounced shipments

The seller should not send goods without prior agreement with Baumann Group a.s. (GOLDU®).

6.2 Liability for unannounced shipments

Baumann Group a.s. (GOLDU®) bears no liability for unannounced shipments to the extent permitted by law.

6.3 Individual buyback conditions

These conditions govern the basic framework for the buyback of investment gold and investment silver. Specific buyback conditions may differ according to:

• the type of product,
• its condition,
• origin,
• tradability,
• the result of verification,
• the current market situation,
• fulfilment of legal or security requirements.

6.4 Changes in buyback prices

Investment gold and investment silver are subject to price developments on world markets. Buyback prices may change continuously depending on the current situation on the precious metals market.

6.5 Investment and market risk

The prices of precious metals may fluctuate over time. Past price developments are no guarantee of future developments. The information provided on the Baumann Group a.s. (GOLDU®) website does not constitute investment advice or an investment recommendation.

7. Related documents

These buyback conditions form part of the contractual and information framework of Baumann Group a.s. and the GOLDU® brand. Related documents are in particular:

• General Terms and Conditions,
• AML information for clients,
• Privacy Policy (GDPR),
• Delivery and Payment Terms,
• Risk warning relating to investment in precious metals.

8. Final provisions

8.1 Governing law and language

These buyback conditions are governed by the law of the Czech Republic. The governing language of this document is Czech; in the event of a conflict between language versions, the Czech version prevails.

8.2 Updating the conditions

9. Company details

Baumann Group a.s. (GOLDU®)

• Registered office: Vyskočilova 1481/4, 140 00 Prague 4, Czech Republic
• Company ID (IČO): 22263284
• VAT ID (DIČ): CZ22263284
• Commercial Register entry: Municipal Court in Prague, Section B, File 29197
• Czech Assay Office – registration number: 15961
• Web: www.goldu.cz
• Data box: xtps2mn
• E-mail: info@goldu.eu
• Phone: +420 601 359 200