Stock Holding

Terms & Conditions

StockHolding Corporation of India Ltd, herein after referred to as StockHolding offers GoldRush Plan which enables Customers to purchase physical gold of 24 Karat' purity at 999.9 fineness’ in small quantities at periodic intervals. Gold is transferred to the client’s account concurrently and the gold earmarked for the purpose is kept aside. In this Plan, Gold is purchased on behalf of the investors net of CST/VAT. The daily price of the gold shall be available on website www.goldrushonline.in. The plan is neither a financial product NOR a deposit, but is a mode of purchasing gold for the personal requirements of the customer. StockHolding offers no investment advice or any assured returns while promoting the plan. Participation under this plan is open to Resident and Non-Resident individuals (having Indian correspondence address), including minors (through their guardians).


Business Day
Business day referred to herein means any day on which the LONDON Bullion market and banks in India are open for business excluding Saturday or Sunday or a day declared as holiday under the Negotiable Instruments Act, 1881 or a day on which normal business could not be transacted due to storms, floods, bandhs, strikes, riots or any other similar events.


GoldRush Account
A unique account number shall be generated after successful registration and verification of KYC documents.


Purchase
Customers can start purchasing gold grams after successful registration and allotment of customer id subject to credit of funds in his INR a/c . Minimum purchase amount shall be equal to or more than Rs. 1000/- and in multiples of Rs. 100/- thereof. The remittance of the purchase amount shall be made by online by debit card/credit card/net banking.
The customer has also an option to maintain with StockHolding an interest free amount, as imprest towards purchase of gold on a future date. In this plan, the customer can specify the order date for the purchase of gold against the imprest. An amount equivalent to the value of gold and the applicable taxes shall be deducted from the said imprest amount upon purchase of the gold. The customer shall have an option of adding up further amounts towards the imprest.


Allotment of Gold
Gold in grams up to 3 decimal places rounded down shall be credited to the customer's account as per the details given below:

Details Date or Day of Trade / Order Cut-off time Date or Day of allotment
Imprest Based T From 12.01 am Up to 3 pm T
Imprest Based T From 3 pm Up to 12.00 am T+1day
Rate :The Applicable Rate shall be displayed at the time of placing the order

In case of erroneous credit of gold to the customer's account, StockHolding reserves the rights to reverse such credits at its sole discretion.


Purchase /Invoice Statement
A purchase /invoice statement shall be generated and viewed by the customer in his login id. The statement shall reflect the purchase amounts paid by the customer and the gold grams credited into the account.


Know Your Customer (KYC) Compliance
Customers shall provide copies of acceptable proof of identity and address ( Originals required for verification). In the event, the total purchase amount exceeds Rs. 49,999/- anytime during the tenure of the Plan or in single purchase, copy of the PAN card of the customer( Original required for verification) (Designated guardian in case of a minor) shall be mandatorily required


Nomination
Nomination is mandatory for all customers except minor registered under this Plan. In the event of death of the customer, the nominee (or the designated guardian of the nominee in case nominee being a minor) can take delivery of accumulated gold under this Plan at the registered Indian address of the nominee. In case the registered address falls in the nonserviceable area, the delivery of gold has to be collected from nearest VAT registered StockHolding branch.


Safe Keeping
The gold purchased on behalf of the customer shall be stored at a Safekeeping agency on a consolidated basis i.e. daily purchases across all its customers.


Delivery
The Plan is non-transferable and the delivery shall be made solely to the Customer/Nominee( in case of death of the customer), in Person The Customer can place a request for delivery of the gold, in form of coins/bars, accumulated in his account provided the customer has a minimum of 1 gram credit in his account. In case, the balance in the account is below 1 gm, the customer shall purchase additional gold to make the balance in the account to minimum of 1 gram. The Customer having more than 1 gram of gold in their account can place a request for delivery of the gold, in form of coins/bars, accumulated in their account only in the denominations of 1 gram or in multiples thereof. In the event of accumulation of any fractional gold grams i.e the balance in the account is less than 1 gram after taking delivery and the client wishes to close their GoldRush account, the same can be sold to StockHolding at the prevailing set off price for such fractional gold grams, subject to the applicable charges/taxes. The customer has option to choose bar in case the gold accumulation is or exceeds 10 gms in his account. The customer shall specify the denomination preferences and pay the applicable making charges, delivery charges and the applicable taxes as per the denomination preferred. The gold coins/ bars shall be delivered to the customer within 7 to 12 business days from the date of realisation of the making charges,delivery charges and applicable taxes. In case the customer's registered address falls in not serviceable area the delivery of gold has to be collected from nearest VAT registered StockHolding branch. In case of customer taking delivery of gold from a state other than his state of residence the customer will be responsible for movement of goods from the respective nearest VAT registered StockHolding branch to their location and StockHolding will not be responsible for any documentation required from Sales Tax /VAT perspective or any other regulation in such case.

StockHolding shall not be responsible for any losses arising after delivery of the gold coins/bars to the customer. The customer shall get the invoice at the time of Delivery of the Metal as “Proof of Delivery” . Delivery requests received shall be processed by T+1 day (T being the date of acceptance). Customer will have to provide copy of the proof of identity at the time of delivery. StockHolding will be holding the allocated gold to the customer as a custodian for a maximum period of 5 years on free of cost basis. It is mandatory for the customer to take delivery of the total gold accumulated to their account after five years. In case customer fails to take the delivery within 45 days post completion of 5 years, storage and insurance charges at 1% on total accumulated value per annum will be applicable. Herein,total accumulated value is calculated at : accumulated metal X current value of the metal.


Force Majeure
If the performance of any obligation of StockHolding is prevented, restricted or interfered with by reasons of any force majeure event, StockHolding shall be excused from performance to the extent of such prevention, restriction or interference. If the force majeure event persists for a continuous period of seventeen working days and StockHolding is not able to purchase the gold during the said period in consequence thereof, StockHolding shall refund the purchase amount of such failed transaction to the account of the customer within three days from the expiry of the said seventeen working days.


Rejection of KYC
In the event the KYC documents are rejected for any reasons whatsoever, StockHolding reserves the right to reject any on any grounds whatsoever, including for non compliance of requisite norms.

However, once the account opening request is accepted, the customer shall not be entitled to cancel the purchase and or claim refund of the purchase amount paid. The purchase amount received from a customer cannot at any given point of time be transferred or assigned to any other person or persons.


General
StockHolding reserves the right to introduce any additional charges/levies upon prior written notice to customers and to modify at any time the terms and conditions of GoldRush or incorporate new conditions If in the option of .StockHolding it is considered necessary oe expedient to do so in the interest of public interest or otherwise for proper conduct of the service. StockHolding shall maintian all the details of the customers confidentially and StockHolding shall be entitled to disclose the same to the service providers for transaction processing and as when required by statutory,legal or regulatory authority. Disputes, if any , are subject to the exclusive jurisdictions of the courts at Mumbai. The Terms and Conditions shall be governed by the Laws of India. I have read, understood and accepted the Terms and Conditions of the Plan as contained herein and I agree that the same are binding on me/ us.