Senco Gold Limited (“SGL”) has introduced an initiative called Gold TradeX under which SGL shall provide a digital platform to customers for the purchase, redemption and sale of the gold.
A Customer (defined hereinafter) can by way of the Platform, purchase through a single transaction, a minimum quantity of 50 (fifty) milligrams of gold or gold equivalent to a value of 50 (fifty) milligrams. The Customer Purchased Gold (defined hereinafter) shall be 24 carat gold of 995% purity. Post receipt of the payment by the Customer, an invoice will be generated for the purchase made and the title for such relevant Customer Purchased Gold will be transferred to the Customer. Considering the Customer Purchased Gold is not being delivered immediately, SGL will ensure that the Custodian (defined hereinafter) holds the Customer Purchased Gold on behalf of and for the benefit of the Customer and SGL shall ensure that transfer the Customer Purchased Gold is safely and securely stored with the Custodian.
With respect to the Customer Purchased Gold, the Customer shall have the option to request for adjustment of the Customer Purchased Gold in the form of jewellery available in any of the designated SGL stores or sencogoldanddiamonds.com (defined hereinafter) or such other form as may be prescribed by SGL, or alternatively to sell the same to SGL on the Platform.
The mechanism being followed through the Gold TradeX platform, allows for Customers to purchase gold from the comfort of their homes. Detailed terms of the process are provided herein below. The Customers are advised to read and understand these terms of the process carefully before using the Platform.