Legal

PHILORO USA, INC. TERMS AND CONDITIONS FOR THE ONLINE SALE OF GOODS AND SERVICES

1. This document contains very important information regarding your rights and obligations, as well as conditions, limitations, and exclusions that might apply to you. Please read it carefully.

These terms and conditions (these "Terms") apply to the purchase and sale of products and services through https://philoro.us/ (the "Site"). These Terms are subject to change by philoro USA, Inc. (referred to as “philoro”, "us", "we", or "our" as the context may require) without prior written notice at any time, in our sole discretion. Any changes to these Terms will be in effect as of the "Last Updated Date" referenced on the Site. You should review these Terms prior to purchasing any product or services that are available through this Site. Your continued use of this Site after the "Last Updated Date" will constitute your acceptance of and agreement to such changes.

These Terms are an integral part of the Website Terms of Use that apply generally to the use of our Site and are part of any offer or acceptance we make to you in connection with any orders under Section 5. You should also carefully review our Privacy Policy before placing an order for products or services through this Site (see Section 4).

2. Disclaimer

Precious metals markets are subject to fluctuations and are difficult to predict. Therefore, an investment in precious metals is not equally recommended for everyone. Before investing in precious metals, we recommend that you think carefully about the goals you are pursuing with your intended purchase and, if in doubt, consult an independent advisor.

In any case philoro USA, Inc. makes no forecasts or assumes guarantees of any future price development, be it short, medium or long term, explicitly or implicitly, for the precious metals products offered on our Site.

3. Identification

All Customers are required to comply with the U.S. Bank Secrecy Act. Pursuant to this Act, we are obligated to carry out sufficient checks to verify the identity of our customers. In this regard, before accepting orders, we will require certain identification, and reserve the right to request additional identity verification information at any time if we believe it necessary or appropriate to do so to comply with our obligations under the Bank Secrecy Act.

You undertake to identify yourself according to the identity verification procedures required by us. You authorize us and/or our affiliated companies or third-party contractors engaged by us to make such enquiries as we may feel necessary to satisfy ourselves about the validity of your identity.

You hereby indemnify and keep indemnify us and our affiliated companies against any liabilities, costs and expenses (including attorney’s fees) which arise out of your failure to identify yourself promptly and correctly.

4. Privacy of Data; Consents; Opting Out; Password and Account Settings

We respect your privacy and are committed to protecting it. Our Privacy Policy, https://philoro.us/legal/data-privacy, governs the processing of all personal data collected from you in connection with your purchase of products or services through the Site. 

a. By using our Site, you are consenting that we may contact you by any method, including email, telephone, text, SMS, and regular mail. This consent authorizes us to contact you at any phone or mobile number you provide us or that we can reasonably associate with your account (for example, through a skip trace or caller ID), including by using automated, autodialed, or prerecorded (including artificial prerecorded) phone calls even if you have opted into the Do Not Call List administered by the Federal Trade Commission or any state equivalent. You also authorize us to send you SMS/text messages, including through an automated texting system with information or questions about your use of the Site. You understand that anyone with access to your mail, telephone or email account may listen to or read the messages we leave or send you, and you agree that we will have no liability for anyone accessing such messages. Consent to receive SMS/text messages is not required as a condition of purchase. You may withdraw your consent to receive SMS/text messages from us by replying to any SMS/text message we have sent you with the message STOP. This withdrawal will be limited to text messages for the product to which the text message relates. If you provide consent to be contacted by phone or text for marketing purposes, you agree that we may call, email or text you to describe products or services that may be of interest to you, including by using automated, autodialed, prerecorded (including artificial prerecorded) phone calls even if you have opted into the Do Not Call List administered by the Federal Trade Commission or any state equivalent. This consent is not a condition of using the Site and may be revoked at any time.

b. When you create a profile or register an account with us, you will also be asked to choose a username and password. You are responsible for maintaining the confidentiality of the username and password that you designate during the registration process, and you are fully responsible for all activities that occur under your username and password. You shall prevent unauthorized use of the Site using your username or password, and any other unauthorized use of your account. You agree to (a) immediately notify us of any unauthorized use of your account or password or any other breach of security involving us, and (b) ensure that you exit from your account at the end of each session. Neither we, nor our affiliates, or any third party engaged by us with respect to servicing your account will be liable for any loss or damage arising from your failure to comply with this provision. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password, account information or other personal information. All assignments of your account or password shall be void.

5. How your orders are processed through our Site

You agree that your order is an offer to buy or to sell, under these Terms, all products and services listed in your order or offer.

For placing an order via our Site, you must complete all mandatory fields marked with *. If information is missing or in case we cannot fulfill your order for other reasons, you will receive an automated error message. Before you finally send off your order, you will be given the opportunity to correct your order. You will receive supporting information directly during the ordering process.

Ordering process for the purchase of bullion bars and coins from philoro:

a. Choose the items you want to buy and click the button “Buy” to place them in your cart. Please note that our prices are calculated every 3 (three) minutes based on global precious metal market prices. Thus they are subject to change. The final price will be displayed in your order summary but in any case BEFORE your binding order is placed.

b. In case you have a client account with us you must log in to get to your account. In case you do not have a client account with us, and you want to continue as a guest, you must enter your personal information (first name, surname, email). After completing your personal information click the button “go to shipping”.

c. Upon entering your desired shipping address click the button “go to payment”.

d. Now you must enter your billing address and choose the desired type of payment. Upon completion click the button “go to review order” where you will be able to see your order summary.

e. If the order summary is correct, you must accept our Terms & Conditions and our Cancellation Policy (by clicking the checkbox) followed by clicking on “confirm” to finalize the ordering process. By clicking "confirm” an update of the price will be proceeded, and the final price will be shown in your order summary before the binding order can be submitted. You fix the final price and make a binding offer to conclude the purchase contract for your order.

f. Upon completion of your binding order, you will receive a note from us with your order number including information about the next steps:

  • First an email showing the order summary will be sent to your email address. This summary contains the content of your offer relevant to the respective purchase. The summary does not represent acceptance of your offer by us.

  • Once your identity has been verified and your offer approved by our trading team you will receive a separate order confirmation via email. Please note that the contract only becomes legally binding once we confirm your order via email within a period of one business day.

g. Upon verification, approval and receipt of your payment your order will be sent to the given shipping address.

Selling process for the sale of bullion bars and coins to philoro (Sell-back):

h. Choose the items you want to sell and click the button “Sell”.

i. In case you have a client account with us you must log in to get to your account. In case you do not have a client account with us, and you want to continue as a guest, you must enter your personal information (first name, surname, email). After completing your personal information click the button “go to shipping”.

j. Upon entering your desired shipping address click the button “go to payment”.

k. Now you must enter your billing address followed by your preferred payment method. Upon completion click the button “go to review order” where you will be able to see your sales summary.

l. If the sales summary is correct, you must accept our Terms & Conditions and our Cancellation Policy (by clicking the checkbox) followed by clicking on “confirm” to finalize the sales process.

m. Upon completion of your binding sale, you will receive a note with your order number including an information about the next steps:

  • An automated email showing a summary of your sales offer will be sent to your email address. This summary does not represent acceptance of your offer by us.

  • The contract only becomes legally binding once we confirm your sales offer via email or telephone within a period of one business day.

When offering a sales order to us you assure that the item you want to sell to us matches the product selected by you on our Site and does not have any defects. Further you declare that you have full and unencumbered title to the goods being offered for sale, have the right to sell said goods, and can provide evidence of this with supporting documents, if required by philoro.

Precious metals should be shipped at your expense via a method of your choosing to: Loomis International (US) LLC, FOB: philoro USA, Inc., 130 Sheridan Blvd. Inwood, NY 11096.

Any damage, missing contents and risk of loss is borne by you until Loomis International take actual physical custody and control of the precious metals. Please also note that you might be required to provide us with a tracking number or shipping information upon request.

Upon receipt the goods will be inspected. We will immediately notify you of any descrepancies in the order and you agree that the results of our inspections are conclusively deemed to be correct and final. If the goods provided to us match your offer and do not have any defects, we will transfer the purchase price. Normally payment is issued 1-2 business days upon verification of goods.  Payment is made by bank wire or company check as per the client’s request. All bank wires will incur a $ 17 bank wire fee.

In case the goods sent to Loomis do not match your offer or contain defects, we will contact you immediately to discuss the next course of action.

Please note that phone calls between you and philoro USA, Inc. are always recorded. This is done for better traceability and to avoid misunderstandings. You expressly consent to the recording of telephone calls between you and us, whether via your private or business telephone line, and you agree that the recordings and transcripts will be used to clarify any open or disputed questions in connection with an order you have placed with us.

6. Prices, Sales Tax and Payment Terms

a. All prices, discounts, and promotions posted on this Site are subject to change without notice. The price charged for a product or service will be the price advertised on the Site at the time the order is placed, subject to the terms of any promotions or discounts that may be applicable. The price charged will be clearly stated in your order confirmation email. Posted prices do not include taxes or charges for shipping and handling. All such taxes and charges (if applicable) will be added to your total price and will be itemized in your shopping cart, order summary and in your order confirmation email.

b. We strive to display accurate price information, however we may, on occasion, make inadvertent typographical errors, inaccuracies or omissions related to pricing and availability. We reserve the right to correct any errors, inaccuracies, or omissions at any time and to cancel any orders arising from such occurrences.

c. Each state and/or local jurisdiction within the U.S. imposes a transactional tax generally referred to as the Sales Tax, which results in almost 10,000 different Sales Tax rates in the U.S. For this reason when purchasing our products we may be required to collect state and local Sales Tax on your purchase. The applicable Sales Tax rate is based on the product and on the destination (shipping address), where you receive the purchase. If an invoice has multiple line items Sales Tax only applies to the taxable lines. Please note that these regulations are constantly changing. In case of doubt, we therefore recommend you to contact a tax advisor to consult about the sales tax regulations for your product and shipping destination.

d. During the ordering process and after your order is complete, we will provide you with payment instructions. These instructions will be communicated to you via email. Please note that we do not accept cash on delivery orders. Additionally we reserve the right to cancel orders if payment is not received within two (2) business days for bank wire orders or three (3) business days for paper check orders.

7. Shipments; Delivery; Title and Risk of Loss

a. Once your payment is received by us, we will arrange for fully insured shipment of your order to you. For orders above $200 no shipping fee will be charged, for orders below $200 we charge a shipping fee of $8. philoro uses the services of carriers like UPS or FedEx. If products are lost or damaged while in transit it will be covered by our insurance policy.

b. Title and risk of loss pass to you upon handover and signed delivery to you. Delivery can usually take between 2-5 business days (gold, platinum and palladium) and 3-8 business days (silver) because it is sent by ground not by air. In any case shipping and delivery dates are estimates only and cannot be guaranteed. We are not liable for any delays in shipments.

c. Save as provided below, all physical bullion will be delivered to the indicated shipping address. It shall be your responsibility to ensure that you or a trustworthy person authorized by you to receive the goods (an “Authorized Person”) is available at such specified shipping address to take delivery and we, our affiliates and our carriers, shippers and agents shall be entitled to assume that any person taking delivery of the goods at the shipping address specified by you is an Authorized Person.

You or your Authorized Person must sign for receipt of the goods and such act shall constitute prima facie evidence that the goods have been received in good condition.

If at the time of delivery you or your Authorized Person contends that the packaging has been opened or damaged or that seals have been broken or removed or that unpacked items are damaged, we recommend you to refuse receipt of the package. In case you took receipt of the package, which was damaged or tampered or there are any discrepancies between the goods received to that of the order confirmation you must record and photograph the package and notify philoro within 48 hours of receipt at (833) 744 5676 or via e-mail [email protected].

If you or your Authorized Person is unavailable to take delivery of the goods or if the goods cannot be handed over for any reason not due to the negligence of us or our carriers, then we may arrange for the goods to be reshipped or placed in storage. All costs of this will be borne by you and we shall assume no liability whatsoever (whether for negligence, loss, non-delivery, mis-delivery, theft or otherwise) to you in such circumstances except if there has been willful misconduct by philoro in the storage arrangements.

8. Returns and Refunds

The goods and services we supply are dependent on fluctuations in the precious metals markets. Thus there is no right to return or cancel an order once placed. You can however request that we terminate an order you have placed in some circumstances. If you do choose to terminate an order prior to dispatch / collection you will be charged for any fall in the underlying metal price for the goods from when the order was placed to when it was terminated (market loss), along with a $30 termination fee. In such cases, you can call our customer service (833) 744 5676.

9. Fraud Prevention

While we are not obligated to do so, we maintain the right to actively report and prosecute both confirmed and suspected cases of fraud. In our discretion, we may request additional authorization from you, such as a telephone confirmation of your order and other relevant information. If fraud is suspected, we retain the right to cancel, delay, refuse to ship, or recall any order with the assistance of the shipping provider.

 

As part of the order process, we collect specific information, including but not limited to details that help identify and locate individuals involved in fraudulent activities. If any order placed through our website is deemed fraudulent, we reserve the right to share all relevant records, with or without a subpoena, with law enforcement agencies, banks, and credit card issuers for the purpose of investigating the fraud. We are fully committed to cooperating with authorities to prosecute those who violate the law.

10. Disclaimer of Warranties

a. All products and services offered on this site are provided "as is" without any warranty whatsoever, including, without limitation, any (a) warranty of merchantability (b) warranty of fitness for a particular purpose; or (c) warranty against infringement of intellectual property rights of a third party, whether express or implied by law, course of dealing, course of performance, usage of trade, or otherwise.

b. We will not be held liable or responsible for any content posted on the Site, including but not limited to any advice or marketing provided by any third party, any third-party links posted on the Site, or any content transmitted through the website. We are a retail provider and do not assume responsibility for any error, omission, interruption, deletion, defect, destruction of identity, unauthorized access to an account, or alteration thereof we reserve the right to discontinue the website at any time.

c. We will not be held liable for network, internet, computer, hardware, or software program malfunctions, failure, delays, or difficulties with the Site at any time.

11. Limitation of Liability

a. In no event shall we be liable to you or any third party for consequential, indirect, incidental, special, exemplary, punitive, or enhanced damages, lost profits or revenues or diminution in value, arising out of, or relating to, and/or in connection with any breach of these terms, regardless of (a) whether such damages were foreseeable, (b) whether or not we were advised of the possibility of such damages, and (c) the legal or equitable theory (contract, tort or otherwise) upon which the claim is based.

b. Our sole and entire maximum liability, for any reason, and your sole and exclusive remedy for any cause whatsoever, shall be limited to the actual amount paid by you for the products and services you have ordered through our site.

c. The limitation of liability set forth in Section 9(b) shall not apply to (i) liability resulting from our gross negligence or willful misconduct and (ii) death or bodily injury resulting from our acts or omissions.

12. Goods Not for Export

You represent and warrant that all purchases are intended for final delivery to locations within the U.S.

13. License/Site Access/Prohibited Uses

philoro USA, Inc. grants you a limited license to access and make personal use of the Site. We do not allow you to download (other than page caching) or modify the Site, or any portion of it, except with our express written consent. This license does not include any resale or commercial use of the Site or its contents; any collection and use of any content, including, but not limited to, products, descriptions, or prices; any derivative use of the Site or its contents; any downloading or copying of account information for the benefit of another merchant; or any use of data mining, spiders, robots, or similar data gathering and extraction tools, as such activities are strictly prohibited. The content of the Site, the Site as a whole, and the software are intended solely for personal, non-commercial use by you and other users of the Site. The content of our marketing or promotional materials and social media is also intended solely for personal, non-commercial use by you.  You may not: (a) modify or create any derivative work based on our content or use our content, in whole or in part, for any commercial purpose or for any public display, performance, sale, rental, outsourcing or other commercial exploitation; (b) remove or alter any copyright, trademark or other proprietary notices from our content; (c) transfer our content to another person; or (d) reproduce our content, the Site or the software, in whole or in part, except as expressly provided herein. You agree to prevent any unauthorized copying of our content, the Site, or our software. philoro USA reserves all rights not expressly granted herein.

14. Force Majeure

We will not be liable or responsible to you, nor be deemed to have defaulted or breached these Terms, for any failure or delay in our performance under these Terms when and to the extent such failure or delay is caused by or results from acts or circumstances beyond our reasonable control, including, without limitation, acts of God, flood, fire, earthquake, explosion, governmental actions, war, invasion or hostilities (whether war is declared or not), terrorist threats or acts, riot or other civil unrest, national emergency, revolution, insurrection, epidemic, lockouts, strikes or other labor disputes (whether or not relating to our workforce), or restraints or delays affecting carriers or inability or delay in obtaining supplies of adequate or suitable materials, materials or telecommunication breakdown or power outage.

15. Governing Law and Jurisdiction

All matters arising out of or relating to these Terms are governed by and construed in accordance with the internal laws of the State of New York without giving effect to any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than those of the State of New York.

16. Waiver of Jury Trials and Binding Arbitration; Time Limit for Claims

a. You and philoro USA, Inc. are agreeing to give up any rights to litigate claims in a court or before a jury. Other rights that you would have if you went to court may also be unavailable or may be limited in arbitration.

Any claim, dispute, or controversy (whether in contract, tort or otherwise, whether pre-existing, present or future, and including statutory, consumer protection, common law, intentional tort, injunctive and equitable claims) between you and us arising from or relating in any way to your purchase of product or services through the site, will be resolved exclusively and finally by binding arbitration in New York, NY.

b. The arbitration will be administered by the American Arbitration Association ("AAA") under its Commercial Arbitration Rules and Mediation Procedures ("Commercial Rules").   Claims may be brought only in a person’s individual capacity, and not as a plaintiff or class member in any purported class or representative proceeding. The arbitrator will have exclusive authority to resolve any dispute relating to arbitrability and/or enforceability of this arbitration provision, including any unconscionability challenge or any other challenge that the arbitration provision or the agreement is void, voidable or otherwise invalid. The arbitrator will be empowered to grant whatever relief would be available in court under law or in equity. Any award of the arbitrator(s) will be final and binding on each of the parties and may be entered as a judgment in any court of competent jurisdiction.

c. Any legal or equitable claim or demand that either party may have against the other, including but not limited to those involving (a) the making, execution, performance, interpretation, applicability, validity, or enforceability of this Agreement and (b) the making, execution, performance, or validity of any transaction between You and us, is barred if not commenced within two (2) years from either the date of the interaction giving rise to the claim or demand or the first date upon which the claim or demand could have been made, whichever is sooner. 

If any provision of this arbitration agreement is found unenforceable, the unenforceable provision will be severed, and the remaining arbitration terms will be enforced.

17. Assignment

You will not assign any of your rights or delegate any of your obligations under these Terms without our prior written consent. Any purported assignment or delegation in violation of this Section 16 is null and void. No assignment or delegation relieves you of any of your obligations under these Terms.

18. No Waivers

The failure by us to enforce any right or provision of these Terms will not constitute a waiver of future enforcement of that right or provision. The waiver of any right or provision will be effective only if in writing and signed by a duly authorized representative of philoro USA, Inc.

19. No Third-Party Beneficiaries

These Terms do not and are not intended to confer any rights or remedies upon any person or entity other than you.

20. Notices

a. To You. We may provide any notice to you under these Terms by: (i) sending a message to the email address you provide or (ii) by posting to the Site. Notices sent by email will be effective when we send the email and notices we provide by posting will be effective upon posting. It is your responsibility to keep your email address current.

b. To Us. To give us notice under these Terms, you must contact us as follows: (i) by email to [email protected]; or (ii) by personal delivery, overnight courier or registered or certified mail to philoro USA, Inc., 1330 Avenue of the Americas, Suite 34C, New York, New York 10019. We may update the adresses for notices to us by posting a notice on the Site. Notices provided by email or personal delivery will be effective immediately. Notices provided by overnight courier will be effective one business day after they are sent. Notices provided by registered or certified mail will be effective three business days after they are sent.

21. Legal Age/Refusal of Orders

By placing an order for products or services from this Site, you affirm that you are of legal age to enter into this agreement, and you accept and are bound by these terms and conditions. You affirm that if you place an order on behalf of an organization or company, you have the legal authority to bind any such organization or company to these terms.

You may not order or obtain products or services from this Site if you (i) do not agree to these terms, (ii) are not the older of at least 18 years of age or (b) legal age to form a binding contract with philoro USA, Inc. or (iii) are prohibited from accessing or using this Site or any of this Site’s contents, products or services by applicable law.

We reserve the right at our discretion to refuse orders from any person whom we believe may be prevented under the laws of any jurisdiction from transacting for the services or whom we believe that philoro USA, Inc. and its affiliated companies may not supply under the law of that jurisdiction, whether or not such law or impediment actually exists or might be enforceable or otherwise have extra-territorial effect.

22. Severability

If any provision of these Terms is invalid, illegal, void or unenforceable, then that provision will be deemed severed from these Terms and will not affect the validity or enforceability of the remaining provisions of these Terms.

23. Entire Agreement

The Order Confirmation, these Terms, our Site Terms of Use, and our Privacy Policy will be deemed the final and integrated agreement between you and us on the matters contained in these Terms.