Terms of Use
These Terms of Use ("Terms") govern your access to and use of the TrustGold platform, operated by [● legal entity name], with its registered office at [● address], Lucknow, Uttar Pradesh ("TrustGold", "we", "us"). By creating an account or using the platform you accept these Terms.
1. Definitions
- Gold Account — the account created on the platform through which you buy, hold, sell, lease, gift or redeem gold.
- Customer Gold — the gold corresponding to your balance, held in safe custody on your behalf.
- Vault Custodian — the regulated partner that stores the physical gold.
- Trustee — the independent trustee that acts for customers and holds a charge over the Customer Gold.
- Customer Request — a sale, delivery, gift or redemption instruction you place on the platform.
- Force Majeure Event — any event beyond our reasonable control, including act of God, fire, flood, strike, civil disturbance, network or banking failure, or government action.
2. Eligibility
You must be at least 18 years old, a resident of India and competent to contract under the Indian Contract Act, 1872. You confirm that the information you provide is accurate and that you transact on your own behalf.
3. The service and purity
TrustGold lets you buy, sell, accumulate through a systematic plan (SIP), lease, gift and redeem 24K gold of 99.95 fineness. Gold corresponding to your balance is held with a regulated Vault Custodian and is intended to be backed on a 1:1 basis.
4. Buy and sell prices
Displayed prices are indicative and apply to fractional grams. The price to buy gold is higher than the price at which we buy it back from you; this difference (the "spread") reflects payment-gateway, trustee, insurance and custodian costs. A Goods and Services Tax of 3% applies to purchases and is not charged on sales. Prices are quoted for a short validity window and the applicable price is the one confirmed when your order is executed.
The displayed rate is a landed, indicative price and is not an exchange or futures benchmark such as MCX, which does not factor in logistics, insurance and safekeeping. We make reasonable efforts to offer a competitive price, but do not guarantee that it will match other prices available in the market.
5. Lock-in period
Each purchase is subject to a short lock-in (typically [1–3] days, until your payment settles), during which that gold cannot be sold or redeemed. This is intended to discourage speculative trading rather than long-term saving.
6. Storage
Your gold is stored free of charge for the first [5] years. After that we may levy a nominal annual storage fee (in the region of [0.03–0.04%] of your balance), deducted in gold. If your balance is too small to cover the fee, we may sell a portion of your gold to recover the amount due. For dormant accounts, after a grace period we may sell the balance at the prevailing price and hold the proceeds for you in a designated account.
7. Custody, backing and trustee
Customer Gold is held in insured vaults with the Vault Custodian. An independent Trustee acts on behalf of customers and holds a charge over the gold backing your balance, so your interest is protected independently of us. Proceeds from certain sales may be held in an account for which the Trustee is the authorised signatory.
8. Insurance
The Vault Custodian maintains comprehensive insurance for stored gold, and the logistics partner insures gold while in transit during physical redemption.
9. KYC and verification
Use of certain features requires identity verification in line with our KYC Policy. Basic details suffice below ₹50,000 of cumulative investment; full verification (Aadhaar via DigiLocker and bank verification) is required above that threshold or before leasing. We may restrict, suspend or refuse service where verification is incomplete.
10. Gold leasing
Leasing is optional. Leased gold may be lent to verified jewellers operating under bank guarantees; the indicative yield (currently a fixed 6% per annum) is paid in gold weight and is not guaranteed. Leased gold is subject to a settlement window (currently T+2) before it returns to your vaulted balance, and carries counterparty and market risk.
11. Redemption
You may redeem eligible balances for physical 24K coins or bars, subject to minimum quantities, applicable minting and delivery charges, and insured logistics handled by specialist partners.
12. Payments, refunds and payment security
Payments are processed through approved payment service providers. Because gold is purchased at a live market price, executed purchases are generally non-refundable; failed, duplicate or unauthorised payments are reversed under the relevant provider's rules. Never share your UPI PIN, OTP or wallet credentials with anyone — we will never ask you for them.
13. Regulatory status
Digital gold is not a collective investment scheme, deposit, security or unit of a mutual fund, and is not currently regulated by SEBI or the Reserve Bank of India. No deposit-guarantee or investor-protection scheme applies to it.
14. Risk disclosure
The price of gold fluctuates and the value of your holding can fall as well as rise. Past performance is not indicative of future returns.
15. Acceptable use
You must not use the platform for any unlawful purpose, including money laundering or fraud, and must not create multiple or fake accounts, attempt to manipulate prices, or interfere with the platform's operation.
16. Intellectual property
All content, trademarks and software on the platform belong to TrustGold or its licensors and may not be used without permission.
17. Limitation of liability
To the maximum extent permitted by law, TrustGold is not liable for indirect or consequential losses, or for losses arising from price movements, third-party providers or events beyond our reasonable control. You agree to indemnify us against claims arising from your misuse of the platform.
18. Force majeure
We are not liable for any delay or failure to perform caused by a Force Majeure Event.
19. Suspension and termination
We may suspend or terminate access where these Terms or applicable law are breached, or where required by a regulator or court. You may close your account after settling any open positions.
20. Governing law and disputes
These Terms are governed by the laws of India. Disputes are subject to [arbitration seated at / the courts of] Lucknow, Uttar Pradesh, without prejudice to any applicable consumer-protection forum.
21. Changes and grievances
We may update these Terms and will post the revised version with a new "last updated" date. Grievances may be addressed to our Grievance Officer at [● name, email, phone].