BULLION BOX SA – TERMS AND CONDITIONS
Bullion Box SA a division of Cashout Gold
Registration Number: 2015/285098/07
IMPORTANT NOTICE
Our services are offered exclusively within the Republic of South Africa. By accessing or using this website and/or opening a Bullion Box Account, you agree to be bound by these Terms and Conditions.
TERMS AND CONDITIONS OF SALE AND VAULTING
- GENERAL PROVISIONS & ACCOUNT REGISTRATION
1.1 Bullion Box SA a division of Cashout Gold (Pty) ltd (“we”, “us”, “our”) operates a platform for the sale, allocation, and safe custody of fractional physical scrap gold.
1.2 By registering an account, placing an order, or electing to vault items with us, you (“the Customer”, “you”) agree to be bound by these Terms and Conditions.
1.3 Bullion Box SA a division of Cashout Gold (Pty) ltd is a registered High-Value Goods Dealer under the Financial Intelligence Centre Act (FICA) of South Africa. Customers are required to submit identification and verification documents in compliance with FICA regulations prior to physical dispatch or buyback payout releases.
- PRODUCT NATURE & OWNERSHIP
2.1 Physical Metal Allocations: Products sold under this program consist of allocated physical scrap gold in mass weight increments of 0.5 grams or 1 gram across specified purity grades (9-carat / 37.5% ).
2.2 Direct Beneficial Ownership: Upon receipt of full payment for any order, full and unencumbered beneficial title to the specific mass and purity grade of physical scrap metal passes immediately to the Customer.
2.3 Non-Financial Product Declaration: All purchases represent direct physical commodity transactions. Products do not constitute financial instruments, collective investment schemes, securities, or yield-bearing assets under the Financial Advisory and Intermediary Services Act (FAIS). Bullion Box SA does not provide financial advice, portfolio management, or guaranteed financial returns.
- VAULTING & SAFE CUSTODY SERVICES
3.1 Safe Custody Allocation: All purchased scrap gold is held in safe custody within secure, audited, and fully insured vault facilities managed on behalf of Bullion Box SA.
3.2 Private Account Dashboard: Purchases, total accumulated mass, purity grades, and available balances are tracked and reflected on the Customer’s private online account dashboard for record-keeping purposes.
3.3 Custody Costs: Vaulting and insurance within the facility are provided as part of the service, subject to any administrative or maintenance fees published on our platform from time to time.
- PHYSICAL DELIVERY THRESHOLDS, DISPATCH & SURPLUSES
4.1 Deferred Physical Delivery Election: In accordance with Section 49 of the Consumer Protection Act (CPA), the Customer expressly acknowledges and elects that physical shipping or collection does not occur at the immediate point of purchase.
4.2 Minimum Delivery Thresholds: Physical delivery or collection may only be requested once the Customer’s accumulated vaulted balance reaches the gold equivalent of a coin for the respective purity grade:
- 20.74g of 9-carat gold for 1/4 krugerrand
- 41.47 of 9-carat gold for 1/2 krugerrand
- 82.94g of 9-carat gold for 1 ounce krugerrand
By completing a purchase, you expressly elect and agree that physical delivery of individual fractional units (e.g., BULL, FALCON) is impractical, and you authorize Bullion Box (or its nominated vaulting partner) to hold physical custody of the corresponding allocated gold on your behalf in a secure vault facility until the minimum physical delivery threshold has been reached in accordance with our Terms and Conditions.
4.3 Full Threshold Milestone Dispatch & Surplus Retention: Physical delivery is processed strictly in exact milestone threshold increments. Any excess mass accumulated above a milestone threshold (e.g., remaining from a total balance of 9-carat) will remain securely vaulted in the Customer’s dashboard balance toward their next delivery milestone or available for buyback.
4.4 Delivery Fulfillment Lead Time: Upon reaching the required minimum threshold and submitting a formal request for physical dispatch, a mandatory fulfillment and processing period of up to thirty (30) business days applies prior to delivery or collection release. This window accounts for operational lead times required to refine scrap metal, process trade settlements (including standard 7-day holding and settlement periods), and procure verified fine bullion or legal tender coins.
4.5 Shipping & Transit: Insured courier shipping is arranged upon request once the threshold is met and fulfillment is completed. Delivery fees and applicable courier transit insurance fees will be quoted at the time of the dispatch request.
- BUYBACK & LIQUIDITY SERVICE
5.1 Customers may elect to cash out all or part of their vaulted balance—including surplus grams below the physical delivery threshold via our online buyback service.
5.2 Buyback payout values are calculated based on the prevailing market spot price for fine gold at the time of execution, less our standard processing, refining, and administrative fees.
- CANCELLATIONS & CONSUMER PROTECTION
6.1 Fixed Commodity Sales: In accordance with Section 42(2)(d) of the Consumer Protection Act (CPA), statutory cooling-off periods and cancellation rights do not apply to direct purchases of physical metals whose prices fluctuate on open commodity markets beyond the control of the supplier.
6.2 All completed physical allocations are final and non-refundable. Customers seeking liquidity may utilize our standard physical buyback service under Section 5.
- LIMITATION OF LIABILITY
7.1 Bullion Box SA maintains full physical insurance over all vaulted metals. In the event of physical loss, claims are limited to the fair market value of the Customer’s documented fine gold balance.
7.2 Bullion Box SA is not liable for indirect loss, platform downtime, or dispatch delays resulting from incomplete FICA verification documents provided by the Customer.
