Terms of business

This English version is provided for convenience. In case of doubt, the German version prevails.

1. Scope

These general terms and conditions ("Terms") govern the custody, storage, verification, transport and release of precious metals by olaMac Security & Logistics ("olaMac", "we"), (not yet published), registered in the commercial register of (not yet published) under (not yet published), for you as account holder ("you"). They apply together with the Storage Regulations you sign in the client portal, the published price list and your instructions given through the portal. If they conflict, the Storage Regulations prevail.

2. Opening an account

2.1 You must be of full age and full legal capacity. Legal entities and partnerships act through their authorised representatives.

2.2 Before we accept metal we identify you and verify your address and, where applicable, the ownership and control structure and beneficial owners of your organisation and the origin of the funds and metal, as required by the German Money Laundering Act (GwG). We may refuse or close an account where the law requires or permits.

2.3 Keep your details up to date and inform us without delay of any change of address, control or tax residence.

3. Segregated custody

3.1 All metal is held in segregated (individual) custody. Each bar and coin lot is recorded in your name with its form, weight, fineness and, where applicable, manufacturer and serial number, and is stored physically separate from our own assets and other clients' holdings.

3.2 Ownership of the metal remains with you at all times. We hold it as custodian within the meaning of sections 688 et seq. of the German Civil Code (BGB); it does not form part of our assets.

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

4. Deposits, transport and verification

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

4.2 On arrival every consignment is opened under continuous video surveillance, counted and weighed on calibrated scales to 0.0001 troy ounce. Metal is credited to your account only after passing verification.

4.3 If a consignment shows a count or weight outside tolerance, damaged or tampered packaging or items that differ from the declaration, we hold it unallocated, notify you and investigate. We may reject items we cannot verify and may require an independent assay, the cost of which is 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 as set out in the Storage Regulations, subject to the insurers' usual exclusions.

5.2 Metal in transit with our secure-logistics service or a partner is insured up to the value stated when booking. 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. Release 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 locked.

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

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 Germany is kept by the olaMac company 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 release or transfer only where this is necessary to verify the instruction or required by law; we will tell you the reason unless the law prohibits this.

7. Fees and payment

7.1 The custody fee is calculated on the average daily value of your holdings at the tiered annual rates of the price list published in the portal and on our website, subject to the monthly minimum, and is 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 in advance. Charges for a deposit or release, including the handling fee in the price list for drop-offs and collections at a vault, are invoiced on booking 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 through the payment methods shown in the portal. Card details are never collected in the portal. Statutory default interest applies to late payment (section 288 BGB). To secure fees due, you grant us a pledge over the holdings in our custody; if fees remain unpaid for more than 90 days after a written reminder, we may, after giving a further 30 days' notice, realise a sufficient part in accordance with the statutory rules (sections 1228 et seq. BGB) and account to you for any surplus.

7.4 We may change the price list on at least 30 days' notice. You may terminate your account before the change takes effect and withdraw your metal without the new fees applying.

8. Instructions, security and the portal

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

8.2 We will never ask for your password and will never ask you by email, chat, telephone or messenger to pay into new bank details. Payment details are provided only in the portal.

8.3 Records of your holdings, signed declarations, certificates and invoices are stored encrypted and unalterably.

9. Liability

9.1 We are liable without limitation for intent and gross negligence, for injury to life, body or health, and under the Product Liability Act.

9.2 For slightly negligent breach of essential contractual obligations (cardinal obligations) our liability is limited to the typical, foreseeable damage; for loss of or damage to metal in custody we are liable up to its replacement value at the time of the damage. Otherwise liability for slight negligence is excluded.

9.3 We are not liable for losses from market price movements.

10. Your representations

You represent that you own the metal you deposit or are entitled to dispose of it, that it is free of third-party rights, and that the metal and the funds used to acquire it are of lawful origin.

11. Term and termination

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

11.2 We may terminate with 60 days' notice; the right to terminate without notice for good cause is unaffected. After termination we release your metal according to your instructions.

12. Data protection

We process personal data as described in our privacy notice, in accordance with the GDPR and the German Federal Data Protection Act (BDSG).

13. Right of withdrawal (consumers)

Right of withdrawal

You have the right to withdraw from this contract within fourteen days without giving any reason. The withdrawal period is fourteen days from the day the contract is concluded (account opening).

To exercise the right of withdrawal, you must inform us (olaMac Security & Logistics, (not yet published), email: (not yet published), telephone: (not yet published)) of your decision to withdraw from this contract by an unequivocal statement (e.g. a letter sent by post or an email). You may use the attached model withdrawal form, but it is not obligatory. To meet the withdrawal deadline, it is sufficient for you to send your communication concerning your exercise of the right of withdrawal before the withdrawal period has expired.

Effects of withdrawal

If you withdraw from this contract, we shall reimburse all payments received from you without undue delay and in any event not later than fourteen days from the day on which we are informed about your decision to withdraw from this contract. We will carry out such reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of such reimbursement. If you requested to begin the performance of services during the withdrawal period, you shall pay us an amount which is in proportion to what has been provided until you have communicated us your withdrawal from this contract, in comparison with the full coverage of the contract. Metal already in custody will be released according to your instructions.

Model withdrawal form

(Complete and return this form only if you wish to withdraw from the contract.)

• To olaMac Security & Logistics, (not yet published), email: (not yet published)
• I/We (*) hereby give notice that I/We (*) withdraw from my/our (*) contract for the provision of the following service: custody of precious metals
• Ordered on (*) / account opened on (*)
• Name of consumer(s)
• Address of consumer(s)
• Signature of consumer(s) (only if this form is notified on paper)
• Date

(*) Delete as appropriate.

14. Changes to these Terms

We will notify you of changes to these Terms at least 30 days before they take effect through the portal. You may terminate free of charge before they take effect. Material changes to the Storage Regulations require your fresh signature.

15. Consumer dispute resolution

We are neither obliged nor willing to participate in dispute resolution proceedings before a consumer arbitration board (section 36 VSBG).

16. Governing law and jurisdiction

The law of the Federal Republic of Germany applies. For consumers, this choice of law applies only insofar as it does not deprive them of the protection of mandatory provisions of the law of the state of their habitual residence.