General Terms and Conditions

1. Introductory provisions

1.1 Operator of the GOLDU online shop

These general terms and conditions (hereinafter the "Terms and Conditions") of the company Baumann Group a.s., IČO: 22263284, VAT ID: CZ22263284, with its registered office at Vyskočilova 1481/4, 140 00 Prague 4, entered in the Commercial Register kept by the Municipal Court in Prague, Section B, Insert 29197 (hereinafter the "Seller"), which operates the GOLDU® brand, govern, in accordance with Section 1751(1) of Act No. 89/2012 Coll., the Civil Code, as amended (hereinafter the "Civil Code"), the mutual rights and obligations of the parties arising in connection with or on the basis of a purchase contract concluded between the Seller and the Buyer through the online shop operated at www.goldu.cz (hereinafter the "online shop" or "GOLDU").

1.2 Buyer

The Buyer means a natural or legal person who concludes a purchase contract with the Seller through the GOLDU online shop.

1.3 Consumer

A consumer is any individual who, outside the scope of their business activity or outside the scope of the independent exercise of their profession, concludes a contract with the Seller or otherwise deals with them.

1.4 Entrepreneur

An entrepreneur is a person who concludes a contract in connection with their own business, production or similar activity or in the independent exercise of their profession, or a person who acts in the name of or on behalf of an entrepreneur. If the Buyer states their IČO (company ID) in the order, it is presumed that they conclude the contract as an entrepreneur.

1.5 Priority of individual arrangements

Provisions deviating from the Terms and Conditions may be agreed in the purchase contract. Deviating arrangements in the purchase contract take precedence over the provisions of these Terms and Conditions.

1.6 Consent to the Terms and Conditions

The provisions of the Terms and Conditions form an integral part of the purchase contract. By submitting an order, the Buyer confirms that they have read these Terms and Conditions and that they agree with them.

1.7 Governing version of the Terms and Conditions

The Seller may amend or supplement the wording of the Terms and Conditions. For a specific contractual relationship, the version of the Terms and Conditions effective on the date of conclusion of the purchase contract is decisive.

1.8 Exclusion of the Buyer's terms and conditions

Any terms and conditions of the Buyer shall not apply to the contractual relationship, unless the Seller expressly confirms their application in writing.

2. User account

2.1 Purchase with and without registration

The Buyer may order goods both from their own user account set up on the basis of registration and without registration directly from the online shop.

2.2 Accuracy of data

When registering and when ordering goods, the Buyer is obliged to provide all data correctly and truthfully. The Buyer is obliged to update the data provided in the user account upon any change. The Seller regards the data provided by the Buyer as correct.

2.3 Access credentials

Access to the user account is secured by a username and password. The Buyer is obliged to maintain confidentiality regarding the information necessary to access their user account.

2.4 Prohibition on making the account available to third parties

The Buyer is not entitled to allow third parties to use the user account.

2.5 Cancellation of the user account

The Seller may cancel the user account, in particular where the Buyer does not use their account for a longer period, or if the Buyer breaches their obligations under the purchase contract or these Terms and Conditions.

2.6 Availability of the user account

The Buyer acknowledges that the user account may not be available continuously, in particular with regard to the necessary maintenance of the Seller's or third parties' hardware and software equipment.

3. Conclusion of the purchase contract

3.1 Presentation of goods in the online shop

All presentation of goods placed in the online shop is of an informative nature and the Seller is not obliged to conclude a purchase contract regarding these goods. Section 1732(2) of the Civil Code does not apply.

3.2 Prices of goods and tax regime

The online shop contains information about the goods, including price information. Investment gold is, subject to the statutory conditions, exempt from VAT under Section 92 of Act No. 235/2004 Coll. on Value Added Tax. Investment silver and other products are not exempt and their price is stated including VAT. The prices of the goods remain valid for the period during which they are displayed in the online shop, subject to price fixing under Art. 3.11 et seq.

3.3 Correction of errors in prices and descriptions

In the event of an obvious error in the price of the goods (in particular a price that clearly does not correspond to the usual price) or in the description of the goods, the Seller is not obliged to deliver the goods at this clearly erroneous price. The Seller shall inform the Buyer of such an error without delay.

3.4 Creating an order

To order goods, the Buyer completes the order form in the online shop, which contains in particular information about the ordered goods, the method of payment of the purchase price and the requested method of delivery; the conditions of delivery and payment are further governed by the Delivery and Payment Terms.

3.5 Submitting the order

Before sending the order to the Seller, the Buyer is allowed to check and change the data they have entered into the order. The Buyer submits the order to the Seller by clicking the relevant button. The Seller regards the data stated in the order as correct.

3.6 Automatic confirmation of the order

After receiving the order, the Seller sends the Buyer, to the e-mail address provided by them, an automatic confirmation of receipt of the order. This automatic confirmation does not in itself constitute conclusion of the purchase contract.

3.7 Formation of the purchase contract

The contractual relationship between the Seller and the Buyer is formed at the moment the Seller confirms receipt of the order to the Buyer in the manner under Art. 3.8. Price fixing under Art. 3.11 takes place already upon creation of the binding order and has no effect on the moment the purchase contract is formed.

3.8 Additional confirmation of the order

The Seller is always entitled, depending on the nature of the order (quantity of goods, amount of the purchase price), to request additional confirmation of the order from the Buyer (for example in writing or by telephone).

3.9 Refusal of the order or withdrawal by the Seller

The Seller reserves the right not to accept an order or to withdraw from the contract, in particular in the event of unavailability of the goods, an obvious error in the price, failure to meet the conditions of the AML check or non-payment of the purchase price within the fixing period.

3.10 AML check of the Buyer

3.10.1 The Seller is an obliged person under Act No. 253/2008 Coll., on certain measures against the legalisation of proceeds of crime and the financing of terrorism (the AML Act), and is obliged to fulfil the obligations arising from this Act.

3.10.2 For transactions worth EUR 10,000 or more, including where several consecutive and clearly related transactions are involved (linked transactions are added up), as well as for any suspicious transaction regardless of the amount, the Seller is obliged to carry out identification and due diligence of the Buyer. The Seller is entitled in particular to require the presentation of a valid identity document, verification of identification data, ascertainment of the beneficial owner and the person authorised to act for the Buyer, and proof of the origin of the funds or assets.

3.10.3 The Buyer is obliged to provide the Seller with the cooperation necessary for identification and due diligence. If the Buyer fails to provide the requested information, does not submit the required documents or does not provide other necessary cooperation, the purchase contract is not formed, or the Seller is entitled not to accept the order, to suspend its processing or to withdraw from the purchase contract.

3.10.4 The rules for payment of the purchase price related to AML (in particular payment exclusively from a bank account held in the Buyer's name, non-acceptance of payments from third parties, refund of funds to the same account and the restriction of cash payments) are set out in Art. 4.8 of these Terms and Conditions.

3.10.5 The Seller is further entitled to refuse to carry out a transaction, to suspend its processing or to withdraw from the purchase contract if the identity of the Buyer, the beneficial owner or the person authorised to act cannot be verified, if the origin of the funds cannot be verified, if any relevant person is on a sanctions list or there is a suspicion of a link to a sanctioned person or enterprise, or if the transaction shows signs of a suspicious transaction. Refusal, suspension or withdrawal on these grounds does not give rise to any liability of the Seller for damages.

3.10.6 Details of the identification and due diligence procedure are set out in the document AML Act and customer identification; the processing of personal data is governed by Art. 10 of these Terms and Conditions and the document Privacy Policy (GDPR).

3.11 Price fixing of investment gold and silver

Since the price of investment gold and silver depends on fluctuations of the financial market beyond the Seller's control, the binding determination (fixing) of the purchase price takes place at the moment the binding order is created, or at the moment agreed between the parties.

3.12 Validity period of the price fixing

The fixed price is valid for 12 hours from the creation of the binding order, unless stated otherwise in the order or agreed otherwise between the parties.

3.13 Non-payment of the purchase price within the fixing period

If the purchase price is not paid within the validity period of the fixing, the Seller is entitled to withdraw from the purchase contract or to offer the Buyer a new price fixing at the current rate.

4. Price of goods and payment terms

4.1 Methods of payment of the purchase price

The Buyer pays the price of the goods and any costs associated with delivery of the goods by the methods stated in the online shop and described in more detail in the Delivery and Payment Terms.

4.2 Variability of the price before fixing

Before the price is fixed under Art. 3.11, the price of investment gold and silver is variable depending on market developments.

4.3 Decisive price after fixing

After the price is fixed, the fixed price is decisive for the given contractual relationship, regardless of subsequent developments in the market price.

4.4 Price developments after fixing

Subsequent fluctuations in the market price after fixing have no effect on the amount of the fixed purchase price.

4.5 Payment before dispatch or handover of the goods

The purchase price is payable in advance; the goods are dispatched or handed over only after the entire purchase price has been credited to the Seller's account, unless agreed otherwise.

4.6 Cashless payment

In the case of cashless payment, the Buyer's obligation to pay the purchase price is fulfilled at the moment the relevant amount is credited to the Seller's account.

4.7 Tax document

The Seller issues the Buyer a tax document – an invoice – and sends it in electronic form to the Buyer's e-mail address, or encloses it with the delivered goods.

4.8 Payments exclusively from the Buyer's account

The Seller accepts cashless payments exclusively from a bank account held in the Buyer's name (for a legal entity, in the name of that legal entity). Payments from third parties or from accounts held in the name of a person other than the Buyer are not accepted, unless the payer's relationship to the Buyer and the origin of the funds are duly documented and the Seller expressly accepts such a payment on the basis of a risk assessment. Any refund of funds is made back to the same account from which the payment was received. Cash payments are accepted only up to the statutory limit under Act No. 254/2004 Coll. on the restriction of cash payments (CZK 270,000 per day between the same persons); above this limit, exclusively by cashless transfer.

5. Withdrawal from the purchase contract

5.1 Exclusion of the right of withdrawal for goods dependent on financial market fluctuations

The Buyer-consumer acknowledges that, under Section 1837(b) of the Civil Code, it is not possible to withdraw from a contract for the supply of goods whose price depends on fluctuations of the financial market beyond the Seller's control and which may occur during the withdrawal period. This concerns in particular investment gold and silver, whose price is derived from the market price of precious metals.

5.2 Products for which withdrawal may be excluded

The exclusion under Art. 5.1 applies to investment bars and coins made of precious metals and other products whose price depends on fluctuations of the financial market.

5.3 Withdrawal for other goods

For goods to which the exclusion under Art. 5.1 does not apply, the Buyer-consumer has the right to withdraw from the contract within a period of fourteen (14) days from the day of taking over the goods, in accordance with Section 1829 et seq. of the Civil Code.

5.4 Method of withdrawal from the contract

To withdraw from the contract, the Buyer may use the model form or contact the Seller via the contact details. It is sufficient to send the withdrawal within the period.

5.5 Return of the goods

If the Buyer withdraws from the contract, they shall send or hand over to the Seller, without undue delay and no later than fourteen (14) days from the withdrawal, the goods they received from the Seller. The costs associated with returning the goods are borne by the Buyer.

5.6 Refund of funds

If the Buyer withdraws from the contract with justification, the Seller shall refund the funds received within fourteen (14) days, in the same way as they were received, unless agreed otherwise. The Seller is not obliged to refund the funds before the Buyer hands over the goods or proves that they have been dispatched.

5.7 Reduction in the value of the goods

The Buyer is liable to the Seller for any reduction in the value of the goods that has arisen as a result of handling the goods in a way other than is necessary given their nature and characteristics.

6. Buy-back of investment gold

6.1 Buy-back of investment gold

Through the GOLDU® brand, the Seller offers the buy-back of investment gold, in particular investment gold bars and investment gold coins. The buy-back conditions are further governed by the Conditions for the Purchase of Investment Gold.

6.2 Indicative nature of buy-back prices

The buy-back prices stated in the online shop are indicative and are based on the current development of the market price of precious metals; the binding buy-back price is determined (fixed) at the moment of agreement between the parties.

6.3 Buy-back conditions

The AML check rules under Art. 3.10 apply to the buy-back as appropriate. Further conditions, the procedure and the documents required for the buy-back are set out in the document Conditions for the Purchase of Investment Gold.

7. Transport and delivery of goods

7.1 Method of transport and securing of the shipment

The goods are delivered by the methods stated in the online shop. Shipments containing precious metals are prepared and dispatched with an emphasis on security and discretion.

7.2 Delivery and payment terms

Detailed information about the methods of transport, delivery times and payment options is governed by the Delivery and Payment Terms, which form an integral part of these Terms and Conditions.

7.3 Insurance of shipments

Shipments containing precious metals are insured during transport in accordance with the conditions of the chosen carrier and method of transport.

7.4 Inspection of the shipment upon receipt

The Buyer is recommended, upon receipt of the shipment, to check the integrity of the packaging and, in the event of any defects, to report this fact to the carrier and the Seller without delay.

7.5 Damaged shipment

If the packaging of the shipment is obviously damaged, the Buyer is recommended not to accept the shipment, or to draw up a record of the damage with the carrier and inform the Seller via the contact details.

7.6 Hidden defects of the shipment

Any hidden defects (e.g. a discrepancy in the contents of the shipment) are recommended to be reported by the Buyer to the Seller without undue delay after their discovery.

7.7 Failure to accept the shipment

If the Buyer fails to accept the goods without a valid reason, this does not extinguish their obligation to pay the purchase price. The Seller is entitled to claim reimbursement of the costs associated with re-delivery or storage.

8. Rights from defective performance and complaints

8.1 Legal regulation of complaints

The rights and obligations of the parties regarding rights from defective performance are governed by the relevant generally binding legal regulations, in particular Sections 1914 to 1925, 2099 to 2117 and 2161 to 2174 of the Civil Code and Act No. 634/1992 Coll. on Consumer Protection.

8.2 What is not considered a defect of the goods

Wear and tear, damage to the surface or packaging (e.g. the blister or certification card) caused by the Buyer's careless handling after receipt, and properties resulting from the nature of investment bars and coins, are not considered defects.

8.3 Making a complaint

The Buyer exercises rights from defective performance with the Seller via the contact details. When making a complaint, the Buyer describes the defect and proves acquisition of the goods from the Seller.

8.4 Cooperation of the Buyer

The Buyer is obliged to provide the Seller with the cooperation needed to assess and handle the complaint, in particular to hand over the claimed goods or their documentation.

8.5 Time limit for handling the complaint

The Seller handles a complaint of a Buyer-consumer without undue delay, no later than 30 days from the day of its lodging, unless the parties agree on a longer period.

9. Other rights and obligations of the parties

9.1 Transfer of ownership right

The Buyer acquires ownership of the goods upon payment of the entire purchase price and receipt of the goods.

9.2 Transfer of the risk of damage

The risk of damage to the goods passes to the Buyer at the moment of receipt of the goods. If the Buyer is an entrepreneur, the risk of damage passes upon handover of the goods to the first carrier.

9.3 Force majeure

The Seller is not liable for non-performance of obligations caused by circumstances excluding liability (force majeure), in particular by extraordinary, unforeseeable and insurmountable obstacles arising independently of the Seller's will.

9.4 Circumstances excluding the Seller's liability

The Seller is further not liable for damage arising as a result of the Buyer acting contrary to these Terms and Conditions or legal regulations, nor for fluctuations in the market price of precious metals.

10. Protection of personal data

10.1 Processing of personal data

The Seller processes the Buyer's personal data in accordance with Regulation (EU) 2016/679 (GDPR) and the relevant legal regulations, to the extent necessary for the performance of the purchase contract and legal obligations (including obligations under the AML Act).

10.2 Separate privacy policy

More detailed information about the processing and protection of personal data is set out in the Privacy Policy (GDPR).

11. Cookies and commercial communications

11.1 Use of cookies

The online shop uses cookie files to ensure the proper functioning of the website, to analyse traffic and, where applicable, to personalise content; necessary cookies are always active, the others only on the basis of the Buyer's consent.

11.2 Separate cookie policy

Details about the cookies used and the options for setting them are set out in the Privacy Policy (GDPR) and in the cookie settings in the online shop.

11.3 Commercial communications

The Seller may send the Buyer commercial communications to their electronic address to the extent and under the conditions laid down by legal regulations. The Buyer may withdraw consent to the sending of commercial communications at any time.

12. Delivery of communications

12.1 Electronic communication

The parties communicate with each other in particular electronically. Documents are deemed to be delivered also by sending them to the electronic address provided by the Buyer.

12.2 Delivery to the contact e-mail

The Buyer is served at the e-mail address stated in their user account or in the order.

12.3 Obligation to update contact details

The Buyer is obliged to keep their contact details up to date. The Seller is not liable for non-delivery caused by the Buyer's outdated details.

13. Final provisions

13.1 Governing law

All legal relationships arising on the basis of the purchase contract or in connection with it are governed by the law of the Czech Republic, in particular the Civil Code, regardless of where access to the online shop was made. This does not affect the consumer's rights arising from generally binding legal regulations.

13.2 Invalidity or ineffectiveness of a provision

If any provision of the Terms and Conditions is or becomes invalid or ineffective, it shall be replaced by a provision whose meaning comes as close as possible to the invalid provision. The invalidity or ineffectiveness of one provision does not affect the validity of the other provisions.

13.3 Archiving of the purchase contract

The purchase contract, including the Terms and Conditions, is archived by the Seller in electronic form and is not accessible to third parties.

13.4 Governing language

The purchase contract may be concluded in the Czech language. The governing language of these Terms and Conditions and the purchase contract is Czech; in the event of a conflict between language versions, the Czech version prevails.

13.5 Out-of-court settlement of consumer disputes

The Czech Trade Inspection Authority (Česká obchodní inspekce), with its registered office at Štěpánská 567/15, 120 00 Prague 2, website coi.gov.cz, is competent for the out-of-court settlement of consumer disputes arising from the purchase contract.

13.6 Notice of risks associated with precious metals

The Buyer acknowledges that the price of precious metals fluctuates and the value of the investment may rise and fall over time; past performance is no guarantee of future performance. The Seller does not provide investment advice.

13.7 Contractual and information documents of GOLDU

An integral contractual and information framework is formed, together with these Terms and Conditions, by the Delivery and Payment Terms, the Conditions for the Purchase of Investment Gold and the Privacy Policy (GDPR).

13.8 Amendment of the Terms and Conditions

The Seller reserves the right to amend or supplement these Terms and Conditions at any time. For a specific contractual relationship, the version of the Terms and Conditions effective on the date of conclusion of the purchase contract is always decisive.

13.9 Effectiveness of the Terms and Conditions

These general terms and conditions take effect on 1 July 2026.

14. Company identification

Baumann Group a.s., operator of the GOLDU® brand

• Registered office: Vyskočilova 1481/4, 140 00 Prague 4, Czech Republic
• IČO: 22263284
• VAT ID: CZ22263284
• Registration: Municipal Court in Prague, Section B, Insert 29197
• Web: www.goldu.cz
• Data box (datová schránka): xtps2mn
• E-mail: info@goldu.eu
• Phone: +420 601 359 200