Please read the following terms and conditions before registering on, accessing or using the website www.soonchandi.com ("this Website") or any similar platform (www.soonchadi.com) (hereinafter collectively called the Platform). This Website is owned and operated by Nepal Investment Ventures Private Limited (NIVPL).
We, NIVPL provide the Platform features to you, the User/Member/Registered Member/Customer subject to your acceptance of the following Terms and Conditions of Access and Use, constituting an agreement between us ("Agreement").
“Product” shall mean gold/silver in the form of bars/coins/jewellery or any other form as maybe introduced by NIVPL. If you continue to use the Platform or communicate with us, you will be deemed to have accepted these Terms and Conditions of Access and Use.
In addition, when you use any current or future NIVPL service or products, you will also be subject to the guidelines, terms and agreements applicable to such service or business ("Specific Terms"). If the Terms and Conditions of Access and Use are expressly inconsistent with such Specific Terms, the Specific Terms will prevail.
NIVPL may revise these Terms and Conditions of Access and Use and Specific Terms from time to time and at any time, without notice to you. If you do not agree to be bound by these Terms and Conditions of Access and Use, as modified from time to time, you should leave the Platform immediately.
You acknowledge that the disclaimers and exclusions of liability in these Terms and Conditions represent a fair and reasonable allocation of the risks and benefits of the Agreement between you and us, taking all the relevant factors into consideration.
You agree that these disclaimers and limitations shall be enforceable to the fullest extent permitted by applicable law. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Platform or these Terms and Conditions must be filed within one (1) month after such claim or cause of action arose or be forever barred.
All content on the Platform is the property of NIVPL or its content suppliers and is protected by international copyright laws.
You may not reproduce or exploit any part of the Platform without written approval from NIVPL.
The Platform and all related content/services are provided "as is" and "as available" without warranties of any kind.
NIVPL disclaims all warranties including implied warranties of merchantability and fitness for a particular purpose.
NIVPL shall not be liable for damages arising from unauthorized use of payment instruments or from any part of the Platform content or services.
All disputes will be resolved first by arbitration in Kathmandu, conducted by an independent arbitrator appointed by NIVPL.
Arbitration will be individual, not collective or representative.
By communicating electronically, you consent to receive communications from us electronically.
These communications satisfy all legal requirements for being in writing.
You are responsible for providing and maintaining all necessary equipment to access the Platform.
You agree to provide accurate payment information and to pay all applicable charges and taxes.
This Agreement is governed by the laws of Nepal and under the exclusive jurisdiction of courts in Kathmandu, Nepal.
You agree to indemnify and hold NIVPL harmless against any claims arising from your use of the Platform or your breach of these terms.
You confirm you have read and agree to these Terms independently and are not relying on external representations.
NIVPL is not liable for direct, indirect, incidental, or consequential damages from use of the Platform.
The Platform may contain links to third parties. NIVPL is not responsible for their content or services.
One or more patents may apply to the Platform and services provided.
NIVPL values your privacy and collects only necessary personal data.
Your information is used for service operations and may be shared only when legally required or with your consent.
The Customer agrees and authorizes NIVPL to use his/her KYC for the purchase of any Products/Services offered / facilitated by NIVPL through the Platform or its branches from time to time without requiring any further consent of the respective customer w.r.t such usage
NIVPL attempts to be as accurate as possible with respect to its product and services. However, NIVPL does not warrant that product or service descriptions or other content of this Platform is accurate, complete, reliable, current, or error-free. If a product offered by NIVPL is not as described, your sole remedy is to return it in unused condition for a replacement under the provisions of our Replacement Policy.
The photographs and impressions displayed on the platform are for reference only and are not to scale. The size, colour, finish, luster, weight and other visual parameters of the actual product may differ to an extent from the photographs and impressions, information displayed on the Platform. The Products shall be considered to have a defect in quality if they have an inherent material or manufacturing defect. Minor deviations from the image shown and information displayed on the Platform shall not qualify as a defect. NIVPL shall not be liable for any action on this account.
You may post reviews, comments, photos, and other content and submit suggestions, ideas, comments, questions, or other information to the Platform, so long as the content is not illegal, obscene, threatening, defamatory, invasive of privacy, infringing of intellectual property rights, or otherwise injurious to third parties or objectionable and does not consist of or contain software viruses, political campaigning, commercial solicitation, chain letters, mass mailings, or any form of spam. You may not use a false e-mail address or mobile number, impersonate any person or entity, or otherwise mislead as to the origin of a card or other content. NIVPL does not regularly review posted content, but reserves the right (but has no obligation) to remove or edit such content, at its sole discretion.
If you do post content or submit material, and unless we indicate otherwise, you grant NIVPL a nonexclusive, royalty-free, perpetual, irrevocable, and fully sub-licensable right to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, and display such content throughout the world in any media. You grant NIVPL and its sub-licensees the right to use the name that you submit in connection with such content, if they choose.
You represent and warrant that:
NIVPL has the right but not the obligation to monitor and edit or remove any activity or content. NIVPL takes no responsibility and assumes no liability for any content posted by you or any third party.
Please review our other policies posted on this site. These policies also govern your visit to the Platform. We reserve the right to make changes to our site, policies, and these Terms and Conditions of Access and Use at any time. If any of these Terms and Conditions of Access and Use is deemed invalid, void, or for any reason unenforceable, that condition shall be deemed severable and shall be modified so as to give effect to the economic intent of such impugned provision, and shall not affect the validity and enforceability of the remaining Terms and Conditions of Access and Use.
Although the Platform is accessible worldwide, not all products or services discussed or referenced on the Platform are available to all persons or in all geographic locations or jurisdictions. The Platform reserves the right to limit the provision of any product or service to any person, geographic area or jurisdiction it so desires, in its sole discretion and to limit the quantities of any such product or service that it provides. Any offer for any product or service made on the Platform is void where prohibited.
If you use this site, you are responsible for maintaining the confidentiality of your account and password and for restricting access to your computer, and you agree to accept responsibility for all activities that occur under your account or password. NIVPL does not offer services or sell products to parties under the age of 18 years, unless sponsored by a legal guardian. NIVPL reserves the right to refuse service, terminate accounts, remove or edit content, or cancel orders and instructions at its sole discretion.
You may use the Platform only if you are a Nepali citizen, residing in Nepal, and are eligible to enter into contracts under Nepali law. Non-Nepali citizens and non-resident Nepali cannot participate on the Platform at present.
In consideration of your use of the Platform, you agree to:
In addition, if required you will fill and sign all forms and documents which form part of your account opening kit, and supply us with all the relevant legal documents and financial information which law requires us to maintain. You warrant and represent that all information that you supply to us is accurate and truthful. You also expressly authorize NIVPL to obtain reports concerning your credit standing and business conduct.
You can open an NIVPL Account with us by entering your mobile number and verifying the same with the OTP sent to your mobile number.
Notwithstanding the foregoing, we may provide you with access to some parts of the Platform without you registering as a user. In that case, your identification is based on other means of identification that we deem appropriate. You warrant and represent that all information provided for this other means of identification is accurate and truthful. You further agree that such information may be collected and disclosed to us and used in accordance with these Terms and Conditions of Access and Use.
If you provide any information that is untrue, inaccurate, not current or incomplete, or NIVPL has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, NIVPL has the right to suspend or terminate your account and refuse any and all current or future use of the Platform (or any portion thereof) without any liability to you.
Upon completing the registration process with the Platform, the system will create a unique customer id for you. You are responsible for maintaining the confidentiality of the account, and are fully responsible for all activities that occur under your account. You agree to:
NIVPL reserves the right to discontinue, in whole or in part, any portion of the Platform services or programs with or without notice to the Registered Member. This discontinuation may relate to all Registered Members, certain groups of Registered Members, or to certain individual Registered Members.
You agree that NIVPL, in its sole discretion, may terminate your password, Account or your use of the Platform. NIVPL may terminate your Account and remove any content within the Platform for any reason, including, without limitation, if NIVPL, in its sole opinion, believes that you have violated or acted inconsistently with the letter or spirit of these Terms and Conditions of Access and Use. NIVPL may also, in its sole discretion and at any time, discontinue the Platform, or any part thereof, without notice.
You may also request NIVPL to terminate your account with us by sending an email to the customer help desk from your registered email id. You agree that any termination of your access to the Platform under any provision of these Terms and Conditions of Access and Use may be effected without prior notice, and acknowledge and agree that NIVPL may immediately deactivate or delete your account and all related information and files in your account and/or bar any further access to such files or to the Platform. Further, you agree that NIVPL shall not be liable to you or any third-party for any termination of your access to the Service.
However, on such termination, NIVPL shall, based on request from the customer, deliver the Product lying in the vaults in the form of coins and/or bars, sell the fractional parts and return the net amount of money standing to the credit of your Account.
NIVPL may publish research and opinions on the Platform, for your information. You may not rely on any such information for forming your investment decisions. You acknowledge that NIVPL or the Platform and its officers, directors, employees, agents and affiliates will have no liability with respect to transactions in or for your Account and your investment decisions.
The Registered Member may transfer an amount to NIVPL (“Customer Advance”) to buy any product or service on the Platform and may withdraw the same from your account as and when you require. By clicking on the Deposit tab on the Platform, you can transfer such Customer Advance to NIVPL and the same will reflect on your Account immediately. In case of payments made by using offline methods like RTGS, NEFT etc., the Account will be credited within 48 hours of receipt of such Customer Advance amount by NIVPL. You may place a request for withdrawal of a specific amount from the Customer Advance amount lying with NIVPL and NIVPL shall transfer such amount to your bank account within seven working days from the date of receipt of such withdrawal request.
You may please note that NIVPL shall voluntarily refund the Customer Advance amount lying with NIVPL for a period of 365 days in your bank account on or before the completion of such period (“Customer Advance Refund Date”). In case NIVPL is unable to refund such Advance amount to you due to non-availability of valid bank account details on the Customer Advance Refund Date, NIVPL shall not be liable for violation of any applicable laws/acts for keeping such Customer Advance Refund Amount beyond such 365 days period.
Further, NIVPL hereby expressly states that it shall consider the Customer Advance amount lying with NIVPL (due to non-availability of valid bank account details) while calculating its income after completion of five (05) years from the date on which such Advance amount was received from the respective User. However, you may update/register your valid bank account details with NIVPL even after the completion of such five (05) years period and thereafter request for withdrawal of the Advance Amount lying with NIVPL. However, NIVPL has the right to deduct charges for generating such withdrawal request as per its own discretion.
Operations on the Platform shall be conducted on an automated basis. Registered Members will be required to connect to the Platform over the Internet. Operations on the Platform shall be allowed through suitable internet-connected devices of a Registered Member. Each Registered Member shall login their respective NIVPL Account by entering their respective mobile number. A Registered Member shall have a non-exclusive permission to use the Platform in the ordinary course of business.
A Registered Member shall not have any title, rights or interest with respect to the Platform, its facilities, software and the information provided by NIVPL and the Platform. The permission to use the Platform shall be subject to payment of such charges as NIVPL and the Platform may prescribe from time to time.
A Registered Member shall not, by herself/himself or by through any other person(s), directly or indirectly:
The Platform may, at the decision of NIVPL, cease operations in Product (Selected denominations of Gold and Silver as specified by the Platform) on the system for such an amount of time and for such reasons as it may deem fit in the best interests of the Registered Members and the overall markets. Orders, if any, in violation of an operation cease, will be rejected by the Platform.
Details of transactions conducted by Registered Members would be updated with the back-office systems of NIVPL. Registered Members can access the reports of their transactions over the Platform. NIVPL may record such additional information about the buying and selling conducted on the Platform as it may consider relevant or necessary for its own use.
NIVPL may appoint Intermediaries and Distributors who shall assist us in distributing our products to you. NIVPL shall communicate all the transaction details to you directly by means of emails, sms and any other medium. and it is your responsibility to ensure that you receive this communication. When you visit the Platform or send emails to us, you are communicating with us electronically. You consent to receive communications from us electronically. We may communicate with you by one or more letters, e-mail, SMS or by posting notices on the Platform. You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy all legal requirements that such communications be in writing.
NIVPL shall not be responsible to you in the event of default or any wrongful, dishonest, criminal, fraudulent act or wilful misconduct or gross negligence on the part of these Intermediaries. However, you shall immediately inform NIVPL on occurrence of such an event through e-mails/telephone/fax or any other convenient means. The activities of the Intermediaries and its personnel/ representative(s) shall not be construed to be activities of NIVPL.
In case of inability of NIVPL to make deliveries of coins, bars and jewellery product due to reasons beyond its control, NIVPL may require that the deliveries be effectuated through specific modes, including through local agents / jewellers. In such a case, you agree to bear any additional costs and fees necessary for the delivery to be complete.
The Customer should take care not to share their login credentials, mobile wallet details, personal pin or OTP (“Payment Information”) with any third party intentionally or unintentionally. NIVPL never solicits Payment Information over a call or otherwise. NIVPL and/or the relevant Payment Gateway Partner(s) or NIVPL Partners shall not be liable for any fraud due to the sharing of such details.
In the event that an individual’s Payment Information and/or payment instrument is fraudulently utilised to purchase Product(s) on the Platform (“Fraudulent Transaction”) from NIVPL, then NIVPL may share relevant information of such transaction if the victim approaches NIVPL via proper channels including NIVPL’s customer support number and email, along with supporting documentation from the relevant public authority or Cyber Cell.
In the event that NIVPL and/or the NIVPL Partner or Payment Gateway Partner(s) have flagged any transaction or Customer’s Account as suspicious as per their internal guidelines, or where it is found that a Customer has utilised Payment Information or a Payment Instrument in an unauthorised or fraudulent manner to purchase Product(s) or undertake any other transaction on the Platform (“Fraudulent User”), NIVPL and/or the Payment Gateway Partner(s) shall be entitled to:
In the event of a Fraudulent Transaction as aforesaid, NIVPL shall make a reasonable effort to assist the victim in recovering their funds, subject to supporting evidence and documentation being provided upon request. NIVPL shall be entitled to transfer the victim’s funds, less any payment gateway charges that are not refunded to the relevant Payment Gateway Partner(s).
However, it is clarified that NIVPL shall not be obligated to reverse any transaction where the Fraudulent User has already sold the Product(s) purchased through the Fraudulent Transaction, and received the funds against such sale; or where the Fraudulent User has chosen to take delivery of the Product(s) so purchased. In this event, NIVPL shall, to the best of its ability, provide any information on the Fraudulent User, including the bank account or mobile wallet account to which funds have been settled, or the physical address to which the Product(s) has been delivered, to the victim or the relevant authorities.
NIVPL may, at its discretion, suspend any Customer’s Account, if there appears to be a fraudulent or suspicious activity in the Customer’s Account. If NIVPL is of the opinion that any Customer is involved in any unlawful activity or the Customer’s Account is used for any unlawful purpose, NIVPL shall have the right to take all actions available to it, including black-listing or blocking such Customer from using the Services on its Platform or blocking the said Customer’s access to the Services through the Platform or intimating the relevant authorities of such unlawful activities.
NIVPL shall not be held liable/responsible, in any manner whatsoever, for any loss/liability arising out of or relating to any technical failure/issue in Platform and/or acts/omission not attributable to it.
The Customer shall inform immediately, in any case no later than 10 (Ten) Business Days of the transaction, of any irregularities or discrepancies that may exist in the Customer Account, failing which it shall be deemed that there is no error or discrepancy in the said Account. All records maintained by NIVPL, in electronic or documentary form of the instructions of the Customer and such other details (including, but not limited to payments made or received) pursuant to the Terms and Conditions, shall as against the Customer, be deemed to be conclusive evidence of such instructions.
Through the Platform, NIVPL shall facilitate buy and sell of Gold and Silver (Product). All such buy and sell transactions are final and non-reversible.
NIVPL shall provide buy/sell quotes for the prices of Product, which shall be linked, based on a formula, to the prices of gold and silver in the spot market. You may buy any quantity of Product through the Platform, subject to policies framed in this regard by NIVPL. NIVPL shall issue an invoice with Product (as the case may be) purchased by you. The Product purchased will be delivered to and stored with a custodian in a vault on your behalf and at your request by default. The cost of insurance of the Product will be borne by NIVPL.
You shall have the option to (a) sell gold / silver from your Platform account back to NIVPL at the prices shown on the Platform at the time of sale, or (b) request for the delivery of the gold/silver in the form of coins and bars online from us or (c) request for purchase of Jewellery under Offline Redemption Policy (d) transfer the gold/silver to another account or (e) Lease the gold that is accumulated in the Platform account
The market prices of Product shown on the Platform would be an invitation to offer to all eligible Account holders. An order legitimately placed by an eligible Account holder would constitute an offer for purchase or sale of the Gold or Silver, as the case may be. NIVPL may accept or reject such an offer, at its discretion.
Though orders would usually be attended to within seconds, certain orders, at NIVPL's discretion, may be subject to manual review and entry, which may cause delays in the processing of your orders. You also accept that you will receive the price at which your order executes in our systems, which may be different from the price at which Gold or Silver is trading at when you enter your order into our system. You acknowledge that you cannot modify an order once placed and that orders may get executed at a price significantly unfavorable to you, depending upon market fluctuations.
The common parameters with respect to buying / selling are as follows:
Following functions can be performed by the Registered member:
A brokerage will be charged to Registered Members for any buy and sell done by them. For each buy and sell conducted by a Registered Member, an e-invoice will be generated in the name of the Member. All taxes, duties, levies etcetera, as applicable, will be borne by the concerned Registered Member. NIVPL shall not be responsible for such statutory taxes.
You will be provided with free storage for Gold/Silver purchased from the Platform for a period of 5 years, or for such period as more particularly stipulated by NIVPL in this regard from time to time at its sole discretion and notified to Customers on the Platform (“Free Storage Period”).
After the expiry of the Free Storage Period, NIVPL shall be entitled to levy storage charges for such Gold/Silver at such rate as would be specified on the Platform, and which may be revised from time to time by NIVPL. The charges would be levied by deducting the Customer Advance Balance at the end of each month by a percentage amount at the specified rate. You are advised to periodically check the Platform to understand these storage charges.
In the event that NIVPL is not able to deduct the storage charges because your Customer Advance Balance is too low, then NIVPL shall be entitled to sell such portion of Gold/Silver stored with the custodian in the designated vault that is necessary or required to recover the unpaid storage charges in question.
While reasonable efforts will be made to offer you a competitive price for your Gold/Silver, there is no guarantee that the price offered to you will be close to or comparable with other prices available in the market.
In order to ensure smooth and efficient operations, NIVPL may appoint one or more agents (including a Commission agent) on your behalf, from time to time. If required, you agree to ratify such appointment(s) retrospectively. All agents shall have the right to terminate their appointment at any time, without prior notice to you.
The Commission agent appointed by NIVPL on your behalf shall be appointed for a limited purpose of representing you and acting on your behalf - to take deliveries/constructive deliveries, make and receive payments for trades done by you on the Platform. Your acceptance of these Terms and Conditions of Access and Use shall form consideration for appointment of the Commission Agent.
All payments from and to you shall be appropriated through the Commission agent as and when required. Notwithstanding the above mechanism, all statutory liability (including GST and other applicable taxes) shall always be to your account, and you shall indemnify the Commission Agent for any losses suffered for acting as your agent.
The Platform offers services for users who wish to request for the delivery of the gold and silver bought by the users and lying in the vaults. The Platform displays the articles that are available for delivery along with the making and delivery charges for each article. Some items may appear slightly larger or smaller than actual size due to screen defaults and photography techniques. Sometimes the items may be represented larger than the actual size in order to clearly show details or smaller than the actual size in order to show the entire item. The Company shall not be liable for any legal action on this account. All the details regarding the product shall be clearly displayed on the Platform.
This facility shall be available to all registered users of the Platform. Any registered user who wishes to request delivery of the gold and silver from the Platform can choose from the selection of Jewellery and Coins and Bars available on the Platform and add the item to the shopping cart.
Infrequently, data may be inaccurately displayed on the Platform due to system errors. NIVPL reserves the right to correct any and all errors when they do occur and NIVPL shall not honour inaccurate or erroneous prices. The delivery charges on the Platform are also subject to change without notice. For any order the delivery charges on the day the order is confirmed prevails. The delivery charges of the products listed on the Platform are fixed and not negotiable.
Delivery shall be made by the Company / courier agent at your doorstep. All items shall be delivered directly to such person and under any circumstances whatsoever, the Member cannot change the recipient details after the order is processed. The Member has the option to change the shipping address, before the product is actually shipped. In the event the Member wishes to change the shipping address, he / she has to log-in to his / her user account on the Platform and click on the "Change Shipping Address" button next to the shipping address and change the address or can request the helpdesk via email. However, the Shipping Address cannot be changed once the order is processed. The recipient of the products is obliged to produce identity proof and/or address proof or such other documents to verify and establish as being bonafide recipient at the time of delivery to ensure safe delivery of the products.
Recipient accepting delivery should carefully examine the package delivered and shall not accept deliveries where the packaging has been tampered with. The recipient receiving the delivery also has the option to open the package and check its contents prior to accepting the delivery or signing the delivery receipt. They shall not accept deliveries, where they find that the box is empty or the contents are damaged or the contents are not in accordance with the order placed.
The recipient, upon signing the delivery receipt, acknowledges the receipt of the product in terms of the order placed with the Company. The Company is not liable to the Customer / recipient for any refund / replacement, under any circumstance, for any subsequent complaints with respect to such deliveries
If the recipient is not available at the time of delivery, the Company / courier agent shall try and deliver the item thrice before returning the same to NIVPL. All costs for re-shipment and handling in the case of non-delivery to the Customer shall be chargeable to the Customer.
Customers shall have the option of using their Digital Gold/Silver accumulated in their account to purchase jewellery exclusively through the Empanelled Jeweller associated with NIVPL, i.e. through retail stores or platforms offered by Empanelled Jeweller.
NIVPL shall be making the payment to such Empanelled Jeweller on your behalf only to the extent of the Sell-back value of the Digital Gold/Silver used for purchase of jewellery from the Empanelled Jeweller.
You will be sent an OTP by NIVPL to verify the transaction and confirm that You wish to proceed with the transfer of accumulated Gold/Silver for purchase of the jewellery from the Empanelled Jeweller. Communication of the OTP to the Empanelled Jeweller shall thereafter allow NIVPL to debit your account balance to the extent required for the purchase of your chosen jewellery offered by Empanelled Jeweller.
Any additional charges for the jewellery product selected shall be borne by You. NIVPL shall bear no liability with respect to the balance payments that are due from You to the Empanelled Jeweller.
In no period of time, NIVPL will give any guarantee towards the balance payment that is payable by You towards the jewellery purchased from Empanelled Jewellers.
Gold/Silver rate as applicable in the Empanelled Jewellers stores or platforms will be applicable for the purchase of jewellery.
Once a transaction has been deemed to be final and an invoice is generated for the Offline Redemption transaction, you shall not be entitled to cancel or request for a refund, unless specifically allowed by NIVPL.
NIVPL shall bear no liability with respect to quality, purity, make, etc of jewellery purchased by You from the Empanelled Jeweller under Offline Redemption Scheme.
Once the Offline Redemption transaction is deemed to be final, any disputes with respect to the jewellery purchased from Empanelled Jeweller shall be resolved directly with the Empanelled Jeweller.
For the purpose of enabling You to earn additional gold as interest on the unutilized gold that is accumulated in Your Platform Account, NIVPL facilitates leasing of Your gold subject to Your acceptance of the following terms and conditions that are applicable for leasing of gold.
You are aware that the gold accumulated on the Platform shall be leased by NIVPL with Auspicious Gold (“Jeweller”) and as such upon giving consent for leasing of gold, it shall be deemed to mean that You accept and irrevocably agree to allow and authorize NIVPL to lease gold that is being accumulated in Your Platform Account (“Leased Gold”).
The terms and conditions for leasing of gold shall be as follows:
You acknowledge that by agreeing to the Terms and Conditions, NIVPL grants you a non-exclusive, non-transferable license to use the Platform for its intended purposes and in compliance with these Terms and Conditions.
In the event you receive a damaged/defective article or an article that does not comply with the specifications as per your original order, you are required to get in touch with the customer service team within 3 business days from the date of receipt of such delivery.
Upon receiving your complaint, NIVPL shall verify the authenticity and the nature of the complaint. If NIVPL is convinced that the complaint is genuine, NIVPL shall provide a free replacement subject to the product being sealed and returned in the same tamper-proof blister packaging in which it was delivered to the customer. However, in the event of frivolous and unjustified complaints regarding the quality and content of the products, NIVPL reserves the right to pursue necessary legal actions against you, and you will be solely liable for all costs incurred by NIVPL in this regard.
Before accepting shipment of any product, kindly ensure that the product’s packaging is not damaged or tampered. If you observe that the package is damaged or tampered, you are requested to refuse to accept delivery and inform NIVPL at the earliest. The return process of the product may be restricted by NIVPL depending on the nature and category of the product.
It shall be the responsibility of the user to ensure safe delivery of the defective/damaged product to NIVPL’s custody. Until such time that the receipt is acknowledged as received by NIVPL, the risk of loss of the said product shall remain with the concerned Registered Member. NIVPL shall have the right to replace the returned product with a product that is similar in composition and equal in market value on the date of replacement.
Any refunds due by NIVPL to the customer for non-availability of articles shall be credited to the customer’s bank account only.
Any gold/silver lying in the vault and the customer advance is non-transferable unless specifically allowed by NIVPL. However, in case of death or insanity, NIVPL shall transfer such gold/silver and advance balance to your legal heir(s) after the required due diligence, and your legal heir(s) shall be regarded as the Registered User thereafter.
You are required to take delivery of your gold/silver within such maximum period as shall be specified for this purpose by NIVPL from time to time on the platform (“Maximum Storage Period”), which is currently limited to 10 years from the time of purchase of gold/silver.
You may provide such an address at any time during the Maximum Storage Period. In the event that no valid address has been provided by you during the Maximum Storage Period, then NIVPL shall for a period of 1 year commencing from the date of expiry of the Maximum Storage Period (such period being the “Grace Period”) attempt at least once to contact you using the contact information provided by you to obtain either (i) an address to which you would require the gold/silver in question to be delivered or (ii) your bank account details into which sale proceeds of the gold/silver shall be deposited.
In the event that NIVPL has not been able to contact you during the applicable Grace Period using the contact information provided by you or where you shall, during the Grace Period, either fail to:
Then upon expiry of the applicable Grace Period for the gold/silver in question, NIVPL shall purchase such gold/silver with the purchase price being the applicable prevailing price displayed on the platform for the purchase of gold/silver from you.
The purchase proceeds realized from such sale (“Final Sale Proceeds”) after deducting any amounts payable to NIVPL as storage charges for storage of such gold/silver after the Free Storage Period, shall be deposited into a separate bank account held by NIVPL as a custodian on your behalf.
In the event that you shall, during a period of 3 years commencing from the date of expiry of the applicable Grace Period (such period being the “Final Claim Period”), notify NIVPL that you are claiming the applicable Final Sale Proceeds, NIVPL shall issue suitable instructions to transfer the Final Sale Proceeds to such bank account as you shall notify for this purpose. In the event that you shall not claim your Final Sale Proceeds within the Final Claim Period, then the Final Sale Proceeds shall be dealt by NIVPL as it deems fit at its sole discretion.
Please note that to claim the Final Sale Proceeds you will be required to provide details of a valid bank account, and the Final Sale Proceeds will not be transferred in the absence of such details. At no time will the Final Sale Proceeds be paid to you in cash.
Systematic Gold Purchase (henceforth referred to as "SGP") is a disciplined accumulation of Gold/Silver. The SGP enables the member to buy gold and silver of a certain fixed amount every month and accumulate Gold/Silver at periodic intervals at a "Configured Price".
The Configured Price for SGP shall be calculated by the platform on every business day and shall be displayed on the platform before 1 pm, which shall be final and binding for everyone. A business day means any day other than Saturday or a day declared as holiday by the Nepal government or a day on which normal business could not be transacted due to storms, floods, strikes, riots, or any other events as NIVPL may specify from time to time.
The member can start their SGP with the minimum amount of Rs. 1500 per month and can invest in multiples of Rs. 500 thereafter.
The member gets an option to buy additional quantities of gold and silver in the existing SGP and the said quantity shall be added to the SGP quantity for the tenure. The member can choose the duration of this SGP, which can range from 2 years to 50 years.
The member gets an option to choose the SGP date cycle from the four options viz. 10th/25th of every month. E.g., if the member submits the SGP application on 7th October and selects the SGP cycle date as 10th of each month, then the SGP will initiate on 10th October. However, if they choose the SGP cycle date as 15th of each month, then the SGP start date will be 25th.
The frequency of buying is once per month. So, if the member chooses the SGP amount to be Rs. 1500 per month in SGP, Rs. 1500 is utilized for purchasing the Gold/Silver.
The Registered Member can request for termination of their existing SGP by contacting the customer help desk. SGP will be terminated only upon the completion of the current SGP cycle month. E.g., if the member has selected the 5th of every month as his SGP cycle date and his SGP is active, and the member decides to exit the SGP on the 10th of the month, the cycle will continue till the 4th of next month and then terminate.
At the end of the SGP tenure or on SGP termination, the member may sell the gold and silver at the market price displayed on the platform. Alternatively, the member can request for termination of their account with us, in which case the gold and silver shall get sold at the market rate and the proceeds shall be remitted to the member's bank account.
You may not sell Gold/Silver under SGP, but you can request the delivery of the gold and silver accumulated during the tenure of the SGP. Alternatively, you may sell the gold and silver under the SGP.
In case you miss your monthly SGP installment, you will be given a grace period of 60 days. Within the grace period, if you do not transfer sufficient funds in your account, then your SGP may be treated as ‘defaulted’ and your SGP may be irreversibly terminated.
The SGP is neither a financial product nor a deposit scheme but a disciplined method of accumulating Gold/Silver. NIVPL offers no investment advice or any assured returns while promoting the SGP.
Delivery shall be made by the Company/courier agent at your doorstep. All items shall be delivered directly to such person, and under any circumstances whatsoever, the Customer cannot change the recipient details after the order is processed. The Customer has the option to change the shipping address before the product is actually shipped. In the event the Customer wishes to change the shipping address, he/she has to log in to his/her user account on the platform and click on the "Change Shipping Address" button next to the shipping address and change the address or can request the helpdesk via email. However, the shipping address cannot be changed once the order is processed.
Recipient accepting delivery should carefully examine the package delivered and shall not accept deliveries where the packaging has been tampered with. The recipient receiving the delivery also has the option to open the package and check its contents prior to accepting the delivery or signing the delivery receipt. They shall not accept deliveries where they find that the box is empty or the contents are damaged or the contents are not in accordance with the order placed.
The recipient, upon signing the delivery receipt, acknowledges the receipt of the product in terms of the order placed with the Company. The Company is not liable to the Customer/recipient for any refund/replacement, under any circumstance, for any subsequent complaints with respect to such deliveries.
If the recipient is not available at the time of delivery, the Company/courier agent will make two more attempts to deliver the product within the next two working days. If the recipient is still unavailable, the package will be returned to the Company and the Customer will be contacted for instructions.
Your privacy is important to us. Our Privacy Policy governs how we collect, store, use, and share information. By using the platform, you agree to the collection and use of information in accordance with this policy. For further details, you may visit our Privacy Policy page.
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Subhashree Complex
5th floor
Kathmandu Nepal
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