Terms of business

1. About these terms

These terms of business ("Terms") govern the custody, storage, verification, transport and release of precious metals by olaMac Security & Logistics ("olaMac", "we", "us"), CNPJ (not yet published), with registered office at (not yet published), for you, the account holder ("you"). They apply together with the Storage Regulations you sign in the client portal, the published fee schedule and the instructions you give through the portal. If they conflict, the Storage Regulations prevail over these Terms.

Where you are a consumer under the Consumer Defence Code (Law 8.078/1990), nothing in these Terms limits the rights that law gives you.

2. Opening an account

2.1 You must be at least 18 years old and have full legal capacity. Companies and other legal entities act through their duly appointed representatives.

2.2 Before we accept metal we verify your identity (including your CPF or, for legal entities, CNPJ), your address and, where relevant, the ownership and control of your organisation and the origin of your funds and metal, as required by Law 9.613/1998. We may refuse or close an account where the law requires or allows.

2.3 You must keep your information accurate and tell us promptly of any change of address, control or tax residence.

2.4 Right of withdrawal. As this contract is concluded online, a consumer may cancel it within 7 (seven) days of opening the account, without giving a reason and without charge, under article 49 of the Consumer Defence Code, provided no metal has yet been deposited at your request. Any amounts paid are refunded.

3. Allocated and segregated storage

3.1 All metal is held on a fully allocated basis. Each bar or coin lot is recorded individually in your name with its form, weight, fineness and, where applicable, refiner and serial number, and is kept physically segregated from our own assets and from the holdings of other clients.

3.2 Ownership of your metal remains with you at all times. We hold it as depositary (Civil Code, articles 627 and following) and it does not form part of our assets.

3.3 We will never lend, lease, pledge, sell or otherwise use your metal except on your written instruction or by court order.

4. Deposits, transport and verification

4.1 You book each deposit through the portal, choosing the vault it is delivered to. Collection and delivery are carried out by our own secure-logistics service or, where it does not operate (including cross-border consignments), by an approved partner carrier; you may also deliver the metal to the vault yourself by appointment. The price, insurance and estimated timing are shown before you confirm.

4.2 On arrival every consignment is opened under continuous camera surveillance, counted and weighed on calibrated equipment to 0.0001 troy ounce. Metal is credited to your account only after it has passed verification.

4.3 If a consignment shows a count difference, a weight outside tolerance, damaged or tampered packaging, or items that differ from the declaration, we hold it unallocated, notify you and investigate. We may refuse any item we cannot verify and may require an independent assay, with the cost agreed with you in advance.

4.4 We accept only metal that meets the product specifications published in the portal and whose lawful origin can be demonstrated.

5. Insurance

5.1 Metal in our custody is insured against loss, theft and damage at replacement value on the basis described in the Storage Regulations, subject to the insurers' standard exclusions.

5.2 Metal in transit with our secure-logistics service or a partner carrier is insured up to the value declared on the booking. You must declare the full value of every consignment. Metal you carry yourself is not insured by us until it has been received at the vault.

6. Withdrawals, delivery and transfers

6.1 You may withdraw all or part of your holdings at any time by an authorised instruction through the portal. On authorisation the selected holdings are placed under an asset lock.

6.2 Delivery is made by our secure-logistics service or a partner carrier to a verified street address against signature and identification, or by collection from our premises by appointment. Risk passes to you on delivery or collection.

6.3 You may transfer ownership of whole lots to another verified client through the portal. A transfer takes effect only when the recipient has accepted it and our compliance team has approved it; until then the lots remain yours and locked.

6.4 Vaults in other countries. You may hold metal in any of our vaults in Brazil, Germany or the United Kingdom. Metal held in a vault outside Brazil is kept by the olaMac entity that operates that vault, on these Terms and the Storage Regulations. Customs formalities, import and export duties, taxes and permits for cross-border consignments are your responsibility; where we know they apply, we tell you before you confirm.

6.5 We may delay a withdrawal or transfer only where we reasonably need to verify the instruction or where the law requires it. We will tell you the reason unless the law prevents us from doing so.

7. Fees and payment

7.1 Storage fees are calculated on the average daily value of your holdings at the tiered annual rates in the fee schedule published in the portal and on our website, subject to the monthly minimum, and are invoiced monthly in arrears.

7.2 Transport, insurance and any other charges are shown before you confirm each instruction. No charge is made that was not disclosed to you in advance. Charges for a deposit or withdrawal, including the handling fee in the fee schedule for drop-offs and collections at a vault, are invoiced when you book and are payable before we collect, deliver or release metal. If you cancel before paying, the invoice is withdrawn.

7.3 Invoices are payable within 15 days by the methods shown in the portal. Card details are never collected in the portal. Late payment bears a fine of 2% and interest of 1% per month, pro rata. If fees remain unpaid for more than 90 days after written notice, we may, on a further 30 days' notice, retain and sell sufficient metal at the prevailing market price to settle the amount due, accounting to you for any balance, to the extent permitted by law.

7.4 We may change the fee schedule on at least 30 days' notice. You may close your account and withdraw your metal before the change takes effect without paying the new rates.

8. Instructions, security and the portal

8.1 Keep your sign-in details confidential. We act on instructions given through your authenticated portal session. Tell us immediately if you suspect unauthorised access.

8.2 We will never ask for your password, and we will never ask you to pay into new bank details by email, chat, telephone or messaging apps. Payment details are issued only inside the portal.

8.3 Records of your holdings, signed acceptances, certificates and invoices are kept in write-once, encrypted storage.

9. Our liability

9.1 As depositary we are liable for the loss of or damage to metal in our custody, up to its replacement value at the time of loss, except where caused by force majeure or by your own act (Civil Code, article 642).

9.2 We are not liable for losses caused by market price movements or by your breach of these Terms. Nothing in these Terms excludes liability that cannot be excluded under the Consumer Defence Code.

10. Your declarations

You declare that you own the metal you deposit or are authorised to deal with it, that it is free of any lien or claim, and that it and the funds used to acquire it are of lawful origin.

11. Closure

11.1 You may close your account at any time by withdrawing all holdings and paying any fees due.

11.2 We may close your account on 60 days' notice, or immediately where required by law or in the event of a serious breach. On closure we return your metal according to your instructions.

12. Personal data

We process personal data as described in our Privacy notice, in accordance with the LGPD (Law 13.709/2018).

13. Contact and notices

We contact you through the secure portal mailbox and the email address on your account. You can reach us at (not yet published) or (not yet published). Complaints are handled under our Complaints procedure.

14. Changes to these Terms

We may amend these Terms on at least 30 days' notice through the portal. If you do not agree, you may close your account before the change takes effect at no cost. Material changes to the Storage Regulations require your fresh signature.

15. Governing law and jurisdiction

These Terms are governed by the laws of the Federative Republic of Brazil. Consumers may bring proceedings in the courts of their own domicile (Consumer Defence Code, article 101, I).