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  • General Terms and Conditions

- General Terms and Conditions -

1. Introduction

This document makes up the General Terms and Conditions for all LinGOLD Ltd. (hereinafter known as "LinGOLD") services and products,

These General Terms and Conditions (hereinafter known as "Terms and Conditions”) are exclusively applicable to anyone, hereinafter known as a “Member”, using LinGOLD’s website services.

These General Terms and Conditions contain all the necessary information to understand how all LinGOLD's services and products function.

  • The Company

LinGOLD Ltd. is a British Company located and registered in England.

Company Registration No: 9507526

LinGOLD Ltd. is a worldwide business operating through the website LinGOLD.com.

  • LinGOLD's Aims and Objectives

To provide a professional, high quality service to the Membership and make innovative investments in physical, visible, allocated Gold bullion and Gold coins accessible to everyone and as easy as possible.

To provide relevant, realistic and pertinent information and explanation about the advantages of investment in physical Gold

To create a long lasting and trusting relationship between LinGOLD and its Members through LinGOLD's specifically developed business model and to continually adapt through 360 degree feedback to meet the needs of the Membership.

To provide excellent customer service through the LinGOLD Team who is available to listen, assist and advise Members so that they may benefit in full from LinGOLD's services and products.

  • Acceptance and Variations

All Members acknowledge having read and completely understood these General Terms and Conditions before subscribing to products and services supplied by LinGOLD.

When creating an account, all Members must accept these General Terms and Conditions by ticking the box next to "I have read and accept LinGOLD's General Terms and Conditions of Use".

If the Member does not accept these General Terms and Conditions the Member cannot use LinGOLD’s services.

A Member has formally accepted these General Terms and Conditions once the Member has opened a Member Account.

The Member acknowledges having printed off a paper example of the General Terms and Conditions and any updates.

If a Member has any LinGOLD queries that need answering before subscribing to the services, the Member can contact LinGOLD by email, chat or telephone using the details provided in the communication section of these General Terms and Conditions or the Contact page at www.LinGOLD.com.

The General Terms and Conditions posted on LinGOLD.com are deemed to be the validated current version. LinGOLD reserves the right to update the General Terms and Conditions as necessary but undertakes to give all Members written notice by email at least one month before the effective date and to post its intentions on LinGOLD.com.

  • Data Protection

LinGOLD abides by a strict code of conduct and ethics regarding the Protection of all data belonging to the Members and the Company.  LinGOLD's Confidentiality & Privacy Policy can be read by clicking here.

Information is encrypted and stored on secure private servers solely for the purpose of due diligence regarding transactions, Member identification, communication and to comply with anti-money laundering and anti-terrorist international legislation.

Information is never disclosed to a third party or partners for any reason.

The only exception is to comply with Legal Authorities when specifically instructed to comply with an investigation and solely in accordance with the law.

2. Membership

Any person over 18 years old or legal entity may become a Member of LinGOLD.com.

Membership is completely free and without obligation to buy.

Membership is confirmed when the preliminary registration has been successfully completed, the General Terms and Conditions accepted and an email is received with details of the account.

  • Opening a Member account

There are three phases to opening a Member account:

Phase 1 - Quick start initial registration allows Members to buy immediately

Phase 2 – Due Diligence – allows Member to sell as well as buy – requires proof and confirmation of address and identity

Phase 3 – Withdrawal – to allow withdrawal of funds from the Member's LinGOLD Account by transferring funds to the Member's bank account – requires Member bank details.

All three phases must eventually be completed in full for a Member to benefit from all of LinGOLD’s services. A progress bar in the Member’s profile will indicate the percentage of registration completion and act as a reminder to Members that further information is required.

  • Phase 1 - Initial Registration - Buying only - Quick Start

Registration requires the following personal information: a valid email address, full name, country of residence, a telephone number and a currency of choice for transactions. Validation of Phase 1 confirms Membership of LinGOLD, allows Members to credit the Member's LinGOLD account and make purchases immediately. This stage of Membership is considered a “Buying” Member only. “Buying” Members cannot sell or request possession until the Member has completed Phase 2 which requires confirmation of identity and address. Initial registration will be confirmed in an email along with a reminder to complete the Member profile. A Member can remain at this phase of Membership particularly if the Member is contributing to a Pension Plan arrangement.

  • Phase 2 – Due Diligence - Selling

Completion of Phase 2 allows a Member to buy and sell Gold following confirmation of identity and address.

A Member is required to provide full address, proof of this address, valid personal identification information and provide proof of identity. All proof documents are required in the form of an electronic copy document or scan of the originals. Proof of address is a utility bill or bank statement issued within the previous 3 months. Personal Identification proof is by a valid Passport or National ID Card including a copy of both sides where appropriate and provision of the document’s official number.

A confirmation email will be sent to indicate that identification has been verified.

It is essential to fully verify Members’ identification to comply with anti-money laundering and anti-terrorist legislation.

Please note that it is a Members responsibility to ensure that the identification details and the address provided are consistent, verifiable and the same as any credit cards or bank account used with LinGOLD.

  • Phase 3 – Fund Withdrawals from a Member Account by Bank Transfers

The final phase of Membership requires Members to provide bank details in order to receive an international transfer of funds from the LinGOLD Members account. Funds will only be transferred in the currency of the Member account. A transfer fee, depending on the chosen currency, will be charged to the Member's LinGOLD account (see Tariffs). Members must also check any fees charged by the receiving bank for this service. The Member will be liable for the fees charged by the receiving bank. The bank account information only needs to be submitted when Member wishes to withdraw some or all of the funds from the Member Account.

Member accounts used for Pension Plan investments cannot complete this phase of Membership until the terms of their Pension Plan.

Contractual relations between the Member and LinGOLD are deemed effective on completion of Phase 1 of the Member Account. LinGOLD reserves the right, at any time, to accept or reject any applications. LinGOLD may check that the home address the Member has provided is correct by sending a series of letters with numerical codes required to activate continued use of the account.

  • Member Declaration

The Member agrees to ensure the accuracy of all information provided to LinGOLD. If the Member’s situation changes, as declared on the date when these General Terms and Conditions were accepted, the Member agrees to update the Member details via the website or by email and to supply any necessary supporting documents to confirm these changes.

LinGOLD cannot be held responsible if it has not been informed of a change in the Member’s situation and/or if there has been a breach in the law of the Member's country of residence.

The Member must be fully capable (or if the Member is incapable, legally represented) in all acts of civil life and for the entirety of the time his/her Member Account is open with LinGOLD

The Member is aged 18 years or more.

  • Power of Attorney

A Member can give power of attorney to a third party to run the Member's account in exactly the same way as the Member would run the account.

However, only the Member can close a Member Account or denounce the General Terms and Conditions.

The third party must give proof of identity and address. The third party must date and sign the power of attorney form issued and return it to LinGOLD by electronic means.

LinGOLD reserves the right to refuse any third party without having to explain the decision.

The power of attorney remains valid until LinGOLD receives notification (recorded letter) to the contrary. It is the Member's responsibility to notify the third party that the power of attorney has been suspended and immediately take all available measures to deny the third party access to the Member account (change username and password, blocking, renewing numerical codes, etc.)

Power of Attorney ends if the Member and owner of the account dies.

Power of Attorney must be free of charge.

  • Use of the Member Account

All Members are responsible for transactions carried out from the Member's Account, whether carried out by the Member or by a third party. The Member must therefore protect the Member's identification details.

The Member agrees to reserve use of the identification details uniquely for the Member's own use except if power of attorney has been granted.

Fraudulent use of an account by a non-Member (or non-representative of the Member) is considered a serious violation of the Member's privacy and entitles LinGOLD to take all measures necessary against the usurper as stipulated in these General Terms and Conditions.

LinGOLD cannot be held responsible for any fraudulent use of identification details. For a person or persons who have received power of attorney from a Member, the legal representative or third party will be equally responsible for the use of identification details and for keeping the same confidential. LinGOLD cannot be held responsible if it receives instructions from a party who no longer has power of attorney if it has not received a letter from the Member informing LinGOLD that power of attorney has been revoked.

If identification details are lost or used fraudulently, the Member must inform LinGOLD. The Member can block access to the Member's Account at any time by simply emailing, messaging or telephoning LinGOLD's customer service team and by following up with a registered letter including proof of delivery within 48 hours from the time of the call.

LinGOLD will send out new identification details.

3. Gold Products

  • Gold Bullion

All bullion which the Member buys from LinGOLD is from the recognised professional market and is of “Good Delivery” standard. All bullion is held as weighed, numbered bars in a form acceptable to the professional bullion market. Each individual item for sale has a unique reference number, an individual certificate of ownership, a certificate of authenticity and is visible by digital photograph. Weights of bullion are partitioned quantities of whole bars that are uniquely referenced as an exact part of the bar for ownership by one Member. All Members can verify exactly which part of every bar the Member owns using the reconstituted bar function.

Gold bullion which Members buy via LinGOLD remains in the vault where it was placed when was acquired by LinGOLD. All Gold bullion is stored in LinGOLD's state of the art private Swiss vaults.

Gold bars constituteinvestment Gold being not less than 99.5% purity and of a weight accepted by the bullion market.

Gold bullion is not available for personal possession. An equivalence of bullion can be arranged in Gold coins which can then be taken into personal possession in accordance with details within these General Terms & Conditions. Members may contact an adviser for further details.

A Member may request to buy a whole bar. The Member can choose to store this in LinGOLD's system as a whole entity or partitioned into weights of 1g, 10g or 100g at the time of purchase. There is no additional charge for this service. The decision to partition is final and irreversible.

  • Gold Coins

LinGOLD has a range of bullion and semi-numismatic coins available.

LinGOLD only stores Gold coins from the professional market in its vaults. In each of the vaults, LinGOLD respects regulations applied by the “investment gold” market.

Gold coins which Members buy via LinGOLD remain in the vault where they were placed when they were acquired by LinGOLD.

Gold coins are kept in sealed cases and individually referenced and photgraphed, recto and verso. The Gold coins are then placed in containers before being placed in the vault. To retain the maximum resale value possible, the Gold coins are never removed from their individually sealed cases.

  • LinGOLD Savings Plan

A Member registers for the LinGOLD Savings Plan by confirming the Member has read the terms of the LSP and joining the plan via the specific web page.

A minimum purchase of Gold or Silver must be made each calendar month from the date of registration on the basis of the weight of gold and/or silver held in the vaults. The deadline for any given month is midnight (24h00) of the first day of the following month.

All Gold bought in the LinGOLD Savings Plan is stored free of charge in our Swiss vaults provided the terms of the agreement are upheld.

Failure to purchase the minimum quantity of Gold per calendar month will result in storage charges being applied to all quantities of Gold stored under the Plan.

LinGOLD will do everything to avoid Members forgetting by issuing a reminder email every month to Members who have not purchased the minimum quantity. The LinGOLD Team may also contact Members by other means to advise them of the due date.

The LinGOLD Savings Planis exclusively for purchase of Gold bullion.

4. Services and Procedures

LinGOLD provides the Members with a system for buying and selling Gold and Gold coins.

LinGOLD's Members can buy and sell Gold and Gold coins which are physically deposited in a vault according to the arrangements described in these General Terms and Conditions.

LinGOLD provides information about the official daily price of Gold and Gold coins so that Members can fix the price of sales orders.

LinGOLD provides photographs of each item of gold bullion purchased along with a unique reference number and a Certificate of Authenticity.

LinGOLD provides photographs of the obverse and reverse of coins as well as microscopic details so that the Member can check the unique character and authenticity of the coin along with the quality.

Only Gold and Gold coins from the professional Gold market are put up for sale on LinGOLD. The exact origin of each coin before entering LinGOLD's system is provided. However, LinGOLD keeps the identity of purchaser and seller members confidential on the system.

  • Access to services

Services can be accessed via LinGOLD.com’s website, telephone, chat or by email.

LinGOLD reserves the right to limit the use of certain services depending on the method of communication used.

Member’s instructions may be recorded. Recordings (computer and telephone) used by LinGOLD constitute evidence of such instructions and the justification for carrying out the corresponding operations on the Member account. The recording will act as evidence in case of a dispute between the two parties and may be used for staff training.

LinGOLD can at any time and for any instruction, request a document signed by the Member.

The Member acknowledges that repeatedly providing the secure login details and/or the registration of instructions constitutes having the same value as a written document. By providing this information the Member can be identified and this constitutes proof of the Member's consent for operations to be carried out (purchase or sales orders, transfers of funds, etc.) and the attribution of these operations to the Member.

As part of the development of online services and products, it is also agreed between LinGOLD and the Member that the repeated entering of secure login details by the Member will serve as an electronic signature in particular for confirming online subscriptions to products and services offered by LinGOLD.

LinGOLD provides information to the Member via the website, by email and may also contact them on their mobile phone or home phone.

The Member is responsible for communicating the Member's exact contact details to LinGOLD and for updating them (which can be done via the website, email or the telephone system).

LinGOLD is entitled to rely on the accuracy of details supplied by the Member.

The Member acknowledges that if the Member's contact details are not regularly updated, the effectiveness of some of LinGOLD's security features will be compromised. LinGOLD cannot be held liable if there is a loss of any kind as a result of a failure by the Member to update the Member's details.

  • Recommendation

Given the nature and technicality of services provided by LinGOLD, Members are advised to consult the brochure and the guide for beginners "How and why to invest in gold coins" (which are downloadable from the LinGOLD.com website) before first use of services and to read other informative works recommended by the website.

  • Available Gold

In the sales area of the website, Gold bullion and Gold coins which are already present in a vault are considered to be immediately available and for sale (hereinafter known as "Available Gold").

Sales advertisements are produced by LinGOLD according to the key properties of the Available Gold.

Members can purchase Available Gold according to the principles listed in the Buy section of the website.

Payment will be made using credit in the Member’s account, with immediate or deferred confirmation from LinGOLD of the Member’s ownership of the items purchased depending on the availability. The Ownership Certificate of any item purchased provides unequivocal evidence of ownership and is updated after a transaction and available via a Member's profile.

  • Gold on order

The Member can acquire Gold or Gold coins which are not already present in LinGOLD’s system (hereinafter named "Gold on Order").

The Member has the possibility to place a purchase order for Gold on Order using the “Open order” function and then following the same method as for Available Coins to make payment against that order.

The Member will pay for the total order placed and 100% of the value of Gold on Order is blocked in the Member's account once ordered.

Members will be given an estimated time limit for the availability of the Gold. If the Gold is still not available once this time limit has passed, the acquiring Member can decide to receive a refund, change the type of Gold or get a new time limit.

As part of a purchase of Gold on Order, the Member acquires a type of Gold or Gold coin (and not a precise Gold coin).

Gold and Gold Coins are uniquely acquired by LinGOLD from the professional gold market.

  • Right of withdrawal

As part of distance selling carried out through LinGOLD and in accordance with Consumer Protection (Distance Selling) Regulations, the Member purchasing the goods does not have the right to withdraw as the price of Gold or Gold Coins for sale on the website is subject to changes in the financial market.

  • Order processing

Each Member assumes responsibility to trade after having read and understood how LinGOLD operates.

The Member understands that the Member may make sales or purchase orders through LinGOLD's system for the quantities, prices and vaults available to them.

The Member accepts that these orders are submitted via the Internet to LinGOLD's IT servers to be carried out.

  • Confirmation of an order

LinGOLD will only accept purchase orders for available Gold or Gold on Order if the Member has sufficient funds in his account to immediately pay for the total price of the acquisition.

LinGOLD will only accept purchase orders if the item for sale is stored in LinGOLD's vaults and is available for the Member at the time of the sale.

LinGOLD will confirm Gold on Order purchases as described above and once the items have been procured.

The Member is free to set his sale prices but LinGOLD reserves the right to suspend a transaction if the purchase or sales orders do not correspond with market prices at the time of the transaction. LinGOLD will inform the Member concerned and will request final confirmation for the terms of the transaction.

If one or more of the conditions above are not met, the order will be refused.

  • Carrying out an order

Orders carried out by Members via LinGOLD can be at a fixed price, or a price according to a threshold.

  • Withdrawing an order

A Member can at any time, submit a request to withdraw part of an order made via LinGOLD which has not already been carried out. Once received, LinGOLD must respond by withdrawing the order in question so that it is not carried out by a reciprocal order received thereafter.

The Member understands and accepts that when another Member has made a reciprocal order allowing the Member’s order to be carried out and which has reached LinGOLD before the withdrawal request, the order will be carried out for the corresponding part. In this situation the part of the order which has been carried out will no longer be able to be withdrawn. However, the rest of the order which has not been carried out will be able to be withdrawn.

LinGOLD can, at its discretion, withdraw all or part of a sales or purchase order for Gold or Gold coins on the website if no reciprocal order has been initiated.

  • Notification

LinGOLD confirms Member's orders have been carried out and/or the parts of orders carried out as soon as possible after the order has been completed.

The completion of an order, following the carrying out of transfers or the cancellation of an order where it has only partially been carried out, will be notified to the Member by LinGOLD in a formal document showing the full amounts transferred once the original order has been carried out.

  • Delivery

Delivery of Gold refers to the transfer of ownership from the selling Member to the buying Member and takes place without the physical movement of the Gold items from the vault. This is a standard term in the professional Gold markets and indicates that ownership of Gold has changed but the Gold remains within the security of a verifiable, professional storage, and thus source of Gold.

  • Compensation and payment

The Member authorises LinGOLD to consider an order as an immediate payment instruction if the order will be carried out (whether all or only a part of the order is carried out.)

LinGOLD strives to ensure the capacity for payment of all orders which have been carried out, ensures that for each acquisition the selling Member is able to deliver the goods to the purchasing Member in the quantities purchased and ensures that for each sale the purchasing Member is able to pay the total sum of money for the item on sale.

LinGOLD, having valued the item for sale prior to its storage, will do the utmost to ensure the quality and conformity of the item for sale.

A payment for a transaction carried out through LinGOLD will take place instantly at the time of the transfer.

The purchaser receives the item they have purchased and the seller is credited with the corresponding amount of money, net of commission. In the same way, the purchaser is debited for the amount of money corresponding to the sale, net of commission.

The seller delivers the item for sale through LinGOLD who ensures the transfer of ownership.

Following the transaction, ownership deeds are made available to the purchasing Member and a sales form is made available to the selling Member.

The handover to the purchasing Member is always linked with a simultaneous "reciprocal" handover by the selling Member. No changes occur in the vault following instantaneous payment.

LinGOLD strives to ensure that payment takes place at the same time as the item for sale is transferred.

  • Management Fees

LinGOLD enables a purchasing Member to buy one or more items or set of items from another Member. Once a transaction has been confirmed electronically it is firm and binding, unless otherwise agreed between the purchaser and the seller along with the acceptance for payment of new costs.

The buying and selling Member will each pay LinGOLD a sum representing a small percentage of the official value of items on the day of the sale. Fees are listed on the Tariffs page and in the Brochure posted on the website.

Items will not be considered sold unless the purchasing Member has accepted the transaction and paid associated costs.

LinGOLD will provide the Member with information including order confirmation, notification that orders have been carried out, account statements, which can be contested if necessary within 15 days from the date the email was sent. After 15 days the information will be deemed to have been accepted.

  • Possession - Transfer of Gold coins outside LinGOLD’s system

Possession refers to the physical acquisition of Gold by releasing the Gold from its secure vault storage to a person or entity outside the verifiable, professional trade.

LinGOLD does not offer possession by external delivery and strongly advises against this as it reduces the value of the investment, adds cost, is subject to increasing scrutiny and regulation by Customs authorities, is restricted by certain couriers and postal services, requires sufficient insurance and adds an elevated risk of loss or theft.

LinGOLD's privately owned Swiss vaults offer the best place to store Gold securely and it ensures that member's products are ready for resale via the site at any time.

LinGOLD's vaults are audited regularly by ALS (precious metals experts) to reassure members that 100% of the member's Gold is present.  Click here to view the latest audit certificate.

Members can arrange to visit the vault in Geneva and should contact LinGOLD for details.

  • Transferring Gold between Members

Members may transfer gold to another Member by request and there is a commission of 2% of the gold or gold coin value to pay.

  • Recommend a Friend

LinGOLD allows a Member (hereinafter named the "Sponsor Member") with Gold or Gold Coins in storage to recruit new users for the LinGOLD’s website with a view to creating new Members. The Sponsor Member will receive a percentage of the revenue generated (on sales and purchase commissions) by new Members (hereinafter named the "Prospect Member"). The value of the percentage and payments take place according to details published on the LinGOLD’s website in the recommend a friend section.

Profits from the current month are credited as rewards to the account on the 1st day of the following month. Rewards are shown as a numerical amount in the Members currency. Amounts credited are exclusively to be used as automatic discounts on the purchase of Gold items or services on LinGOLD.com. Reward credits are reset to zero on the 31st of December of each year.

The Sponsor Member receives a percentage of transactions by their own Prospect Members that they have directly recruited. There is therefore one reward level.

LinGOLD reserves the right to cancel the rights of Sponsor Members to receive a percentage of the revenue if they use LinGOLD to set up a pyramid sales scheme or any sales model punishable by law.

The ‘recommend a friend scheme’ is exclusively reserved to the first account opened by a Prospect Member.

Accounts whose owners are under guardianship, curatorship or judicial protection are excluded.

The Sponsor Member may recommend unlimited Prospect Members, however, they may only contact people who agree to receive emails from them as part of the recommend a friend program. The sending of unsolicited emails by Members from LinGOLD's system is prohibited. LinGOLD reserves the right to cancel Sponsor Members rights to receive a percentage of revenue if this regulation is not followed.

Employees of LinGOLD do not qualify for the ‘recommend a friend scheme’ either as a Sponsor or Prospect Member.

LinGOLD reserves the right to change or terminate the ‘recommend a friend scheme’ by disseminating information on the website in the recommend a friend section.

5. Storage

  • Storage Service

LinGOLD provides its Members with a storage service in state of the art private vaults located in Switzerland (hereinafter named "the vault") with an excellent reputation and security offering physical storage of Gold and Gold coins purchased and sold through the system.

The storage service offered by LinGOLD is not a subletting service of bank vaults but a private storage service providing the highest level of security to its Members for storing Gold bullion and Gold coins in number, quality and integrity.

  • Storage Arrangements

The Member accepts that when the Member purchases Gold bullion or Gold coins through LinGOLD's system, the acquired gold is delivered by the seller to the buyer whilst physically remaining in the vault, to become the buyer's full property, following the instructions exclusively provided by LinGOLD.

LinGOLD guarantees that the Gold bullion and Gold coins owned by Members exists and that it is stored in the vault.

The Member shall pay a fee for the storage service. Rates are available on the Tariffs page and in the brochure posted on the Website.

The storage service is automatically activated as soon as the Member owns a first item of Gold except if the Member has subscribed to the LinGold Savings Plan.

The Member will not have direct access to the vault. However a Member can request to visit the vault and the Member's Gold. This must be arranged in advance with a minimum of 7 days notice given. The visit must be supervised by authorised personnel from the LinGOLD Team and only one person at a time is allowed into the secured zone. There is an administration charge for this service and the fee is available on demand from LinGOLD.

The vault may be checked by auditors at the Members cost (quotation by arrangement). This must be arranged at least 7 days in advance and under the supervision of authorised personnel from the LinGOLD Team. Reports may be made public but the names of owners must be kept anonymous and therefore only the Pseudo codes can be visible.

  • Insurance and Protection against theft

LinGOLD has insurance for the vault.

LinGOLD is responsible for checking that Members’ Gold and Gold coins are correctly protected against theft and damage according to standards accepted in Switzerland where the vault is located, the cost of which is included in the fees that the Member pays to LinGOLD for storing the coins.

LinGOLD has selected private vaults offering the highest systems of security which have not been breached since they were opened.

  • Payment for the storage

The cost of storage is calculated monthly based on the maximum weight of the Gold or coins stored in the previous month (see the Tariffs page and brochure). If no Gold or coins were stored the previous month, no fees will be charged in the current month.

The Member must ensure that there is sufficient credit in the Member account for making regular payments of storage costs.

Please note that storage charges are calculated per calendar month and this effectively means the deadline is 24H00 (Midnight) on the last day of the month.

Any sums paid in advance for the storage service are acquired by LinGOLD as a lump sum payment, without prejudice to any other sums to which the Member would be indebted under the application of these General Terms and Conditions

If payment is not made for the storage service, the Member accepts that LinGOLD may, fifteen days after sending a final reminder email, hold the Member's Gold or coins as a guarantee until such time as all outstanding charges are met. LinGOLD will make every effort to avoid any such circumstance by regularly contacting a Member to resolve the issue.

As a last resort and in the event that a Member fails to contact LinGOLD to address the outstanding charges for a period of not less than six months, LinGOLD may use part or all of the Gold assets to cover the outstanding debt. LinGOLD will deem a Member's account void when the outstanding debt is equivalent to the assets held. At such a time LinGOLD may sell the assets to recover outstanding charges.

6. Taxation

  • General

Taxes are decided by the authorities in the Member's country of residence.

It is each individual Member's responsibility to ensure compliance with the taxation laws applicable within the Member's jurisdiction.

Each Member is also responsible for the direct or indirect payment of any taxes due to the Tax Authorities governing the Member's specified address or residence.

Each Member is responsible for becoming familiar with the tax regime applied (or which may subsequently be applied) when buying, selling or storing gold coins and bullion.

Specifically, Members should ensure compliance with rules regarding the gain in capital value from investing in Gold (often referred to as Capital Gains Tax).

LinGOLD can provide records of transactions that will help Members account for funds.

LinGOLD recommends that Members seek advice from the statutory Tax Authority of their residence to clarify rules of taxation.

LinGOLD will endeavour to provide Members with useful guidance, direction and feedback regarding any taxation rules and potential benefits of which LinGOLD is aware in a particular country.  This advice is provided without obligation on LinGOLD's part and the Member is ultimately responsible for the Member's tax position.

LinGOLD will inform Members (by country) of any advice of which they are aware that may be useful.

Due to the worldwide nature of LinGOLD's business there is no common rule of taxation that applies to all Members.

Members acknowledge that the act of buying, selling and storing Gold bullion and Gold coins may be subject to specific regulations within the jurisdiction of the Member's Tax Authority and for which the Member must demonstrate compliance.

  • VAT Exemption

Investment Gold sold in Europe is exempt from VAT (Value Added Tax). All LinGOLD products are considered as Investment Gold and therefore transactions on LinGOLD.com will be VAT free (if applicable dependent on the Member's residence).

  • What is investment gold?

Investment Gold is:

(a) Gold of a purity not less than 995 thousandths that is in the form of a bar, or a wafer, of a weight accepted by the bullion markets;

(b) a Gold coin minted after 1800 that:

• is of a purity of not less than 900 thousandths;

• is, or has been, legal tender in its country of origin; and

• is of a description of coin that is normally sold at a price that does not exceed 180% of the open market value of the Gold contained in the coin.


The following supplies are exempt:

(a) a supply of investment Gold;

(b) a supply which confers the right to take possession of investment Gold.

(c) a supply of services by an agent which consists of attempting to bring about a supply within (a) or (b) above for a named principal, whether or not the agent is successful.

(d) Gold in the form of a bar, ingot or wafer weighing more than one gram whose purity is equal to or greater than 995 thousandths, accounted for or not by title deeds.

7. Security

  • Individual

LinGOLD undertakes to maintain Member anonymity in the public domain and protect Member's personal information as stated in the section on Data Protection.

  • System

The LinGOLD Operating Platform and Back-System are run on private servers and data is encrypted. LinGOLD has and will always take steps to maximise System Security and minimise risk.

  • Transfer Payments

LinGOLD uses the world renowned PayPal secure system for transfers made by Debit Card, Credit Card or an existing PayPal account. Over 231 Million people worldwide regularly use their PayPal Account for secure online transactions. Interbank transfers in and out of LinGOLD's bank are undertaken through the SWIFT system protected by banking security systems. Member’s identity is indicated by their Public Pseudo and all transfers are verified and confirmed by email. Access to transferred funds on the site is strictly limited to the Member account which requires a secure login. Withdrawals from a Member Account can only be made once identity and addresshave been completely verified.

  • Site

The LinGOLD site is a secure site and individual Member accounts are only accessible to an individual Member who has successfully followed the secure login procedure. Robust and comprehensive internet security measures are in place to protect the integrity of the site and operating systems from any external interference.

  • Protection of personal data

LinGOLD has a file containing personal data about all Members to ensure the services run correctly.

The collection of personal data enables LinGOLD to adopt an individual style of management for the Members. Through completed forms and collected data, Members must give their express consent for the creation of this file, in accordance with the Data Protection Laws.

LinGOLD takes all measures possible to protect data of a personal nature.

  • Cookies and IP address

For technical considerations, in particular to make it easier for Members to navigate the website and take advantage of promotional offers, Cookies could be installed on the Member's device by the Website. The Member is informed that they can oppose their implementation by following the procedure indicated in the browser. However, use of the site could, in this situation be altered, if not impossible.

As part of the protection of Member access, LinGOLD reserves the right to register Member's IP addresses when they use the website LinGOLD.com and any related services.

  • Newsletters

As a result of registration, each Member will receive newsletters sent by the Website. These newsletters contain important and vital information on how to use LinGOLD.com. However, in order to respect the private life of the Member, the Member can ask to no longer receive these newsletters by changing the settings in the Member account. The Member is aware that the Member may be deprived of an important source of information.

8. Financial

  • Currency

LinGOLD's official currency of reference is the Euro which is necessary for accounting practice and audits.

However, due to the international nature of the business LinGOLD offers the opportunity for transactions in US Dollars, British Pounds Sterling, Euros or Swiss Francs.

The currency of transaction is Member specific.

A Member will choose a preferred currency during Phase 1 of registration and this currency will be the default currency for the Member Account.

All transactions of a Member account will be carried out in the chosen currency.

A Member may use additional currencies by opening a separate and new account in that currency. This practice is necessary to comply with money-laundering financial rules.

All prices, transactions and charges will be displayed in a Members chosen currency by default.

  • Payments

All payments for goods and services on LinGOLD.com must be made from the Member's account. Members may add funds to the account at any time. Members may fund the account instantly or by a method incurring a delay.

Payments can only be made when there are sufficient funds in a Member's account to cover the Total Amount due.

Please note that all payments made from a Member account will be in the currency chosen at registration.

  • Funding a LinGOLD Account.

Members may choose any of the methods below to fund the account.

Instant – Members may use the PayPal facility to fund the account. An existing PayPal account may be used or a Debit or Credit Card. This method allows instant funding of a Member Account. Please note that PayPal transactions charges apply.

Non-instant – Members may submit a bank transfer from the Member's bank to the designated LinGOLD Account using the form and information provided. There is no charge for transferring funds into the account using this method. This method is not instantaneous and Members should allow for a delay of 2 to 6 working days (variable) depending on bank and location. Transfers will be processed by the SWIFT system.

  • Joint Account for Member's Credit

LinGOLD Ltd. operates bank accounts with Lloyd’s Bank  in the UK.

LinGOLD has separate accounts in US Dollars, Pounds Sterling, Euros and Swiss Francs to provide inward transfers free of charge in a Member's chosen currency.

LinGOLD takes responsibility for directly placing funds provided by Members into a separate account (joint credit account). This account is exclusively dedicated to money deposits not already invested by Members.

LinGOLD is authorised to manage money deposited in the joint bank account on behalf of its Members and for the following purposes only:

a) For purchasing gold from another Member. In this situation, the Member’s money is not transferred from one account to another. Instead ownership of the money is transferred to the selling Member in LinGold’s records whilst ownership of the gold is transferred to the purchasing Member.

b) To transfer a sum of money to its owner within the strict limits of money available.

c) To pay LinGOLD for services provided and other charges or taxes as stipulated in these General Terms and Conditions.

LinGOLD agrees to permanently maintain sufficient funds in the joint bank account to be able to pay back the outstanding balance of all its Members.

Members deposits held in these accounts correspond to the funds shown in their LinGOLD.com account.

The deposits in these accounts belong to the individual Members who have deposited them.

The balance of this account does not form any part of LinGOLD.com assets and is not used to for credit facilities or loans to or with any third parties.

Member account deposits do not form any or part of the operating capital or Current Account of LinGOLD Ltd.

LinGOLD operates its own business accounts separately from these Member Deposit Accounts.

LinGOLD maintains strict internal procedures of audit and accounting to ensure excellent financial propriety at all times.

  • Withdrawals

Members can only withdraw funds from the Member account when the Membership profile has been completed, verification of identity, address and bank details have been confirmed.

LinGOLD has the right to deduct charges arising from the transfer and/or any outstanding storage charges.

LinGOLD charges a fixed fee for withdrawal transfers and details can be found on the tariffs page.

Members are responsible for checking any costs imposed by the Member's receiving bank and undertake to settle these amounts by direct arrangement with the bank. LinGOLD is neither liable nor responsible for payment of charges incurred by a Member's receiving bank.

Members are free to withdraw funds at any time providing they have complied with the conditions previously stated.

  • Overdrawn Member Account

Member accounts that become overdrawn will incur interest charges on the negative balance. LinGOLD will remind Members before this occurs but it is ultimately the responsibility of each Member to keep the account in credit to cover ongoing storage or other charges.

  • Account operating incident

All operations requiring special handling, particularly when they involve a Member account operating incident, may be charged, the cost of which will be provided on request.

9. Communication

  • Official Language

The official language of LinGOLD.com is English and all communication, written or verbal, will be in English including; contact between Members and LinGOLD, Members who wish to make an informal or formal complaint.

The resolution of any dispute will take place in English and will be communicated to the Member in English.

  • Contacting LinGOLD

Members may contact LinGOLD by email, post, telephone or the Chat facility. LinGOLD staff will reply to all communications received subject to our hours of operation.

  • Please note that all communications and messages passed through the system are recorded to ensure the quality of service, to be used for training purposes and for the security of the system and transactions.

  • Please quote just your public Pseudo to identify yourself when contacting us and do not disclose your identification number or PIN.

LinGOLD contact details are also available via the contact page.

Members may contact LinGOLD by any of the following

by email: info@lingold.com

by the chat line: leave a message

by phone: TEL: +44 (0)203 318 5612

by post:

LINGOLD Ltd.      

16c Sandown Road, Lake,

Isle of Wight

United Kingdom

  • Complaints

Members may address a formal or informal complaint to LinGOLD by any of the means above. Please address the complaint to the Customer Relations Department and LinGOLD will deal with all incidents without prejudice in a professional manner and in keeping with strict internal guidelines. The aim is to reply with the minimum delay possible and in line with administrative operating hours. LinGOLD's Customer Satisfaction target is 100%.

  • Member’s written communication and content

Members may contact LinGOLD with criticism, comments, submit suggestions, ideas, questions or any other information so long as the content is not illegal, obscene, abusive, threatening, libellous, contravening intellectual property rights, injurious to third parties and does not consist of or contain computer viruses, political activism, commercial solicitations, mass mailing, chains or any other form of "spam". The Member must not use a false email address, impersonate any other person or entity or lie about the contents origins.

If the Member sends content to LinGOLD, unless otherwise stipulated by the Member, the Member gives LinGOLD, as well as any associated companies, for the legal term of protection applicable, the non-exclusive and free right to reproduce, change, adapt, publish, translate, distribute, sublicense and display such content anywhere in the world on the Website and any other materials.

  • Request for information

The Member may submit requests for information about the Member's account from LinGOLD's Customer Service team through the Website, by email or by telephone.

LinGOLD keeps account information for ten years. LinGOLD charges the Member for requested information according to conditions regarding rates (available on request) which will be in effect.

The Member declares and guarantees that the Member is the owner or owns the necessary rights to any content sent to the Website. The Member agrees to indemnify LinGOLD if any action or claims are made by a third party against LinGOLD since this action would be a result of the foundation or origin of content that the Member has supplied to the Website.

LinGOLD reserves the right to remove or edit any content at its discretion.

10. Administration

  • Ownership Records

LinGOLD keeps a copy of ownership records.

LinGOLD will only make changes to the records when valid instructions are carried out in compliance with these General Terms and Conditions.

  • Operating hours of the Website and official time zone

LinGOLD is an international Website open 24 hours a day and 7 days a week. The official time zone is Central European Time (CET) which is GMT +1 hour, where there is also a one hour daylight savings time change.

Members may place orders any time of the day any day of the week.

LinGOLD's administration hours are 09h00 - 17h30 CET Monday to Friday. Orders will be checked and validated during these hours excluding National and Bank Holidays.

A Chat facility will be available on line to help and advise Members during these hours.

LinGOLD reserves the right to change or adapt these operating hours. In this case, information about the changes will be sent to Members or posted on the website.

LinGOLD reserves the right to suspend all or part of its website services for a time in order to carry out urgent technical work. In this case, information will be sent to Members by email.

  • Validation

All sales transactions will be validated on a daily basis and in accordance with our operating hours.

  • Extra products or extra services

Any Member wishing to obtain an extra product or service must make a request to the LinGOLD customer service team via the website, by post or telephone. The request to subscribe to a product or an extra service will be considered to be effective after an ad-hoc document has been validated or after the subscription has been carried out via the website. LinGOLD reserves the right, at any time, to accept or refuse a request to subscribe to a product or service without having to justify the decision unless required to by law.

  • Extra costs

LinGOLD reserves the right to charge for time and materials used by the internal administration team for services which could have easily been supplied via the Website. The standard hourly cost for this service is the equivalent of €50 per hour or part of an hour used plus any materials.

11. Correction of errors

  • Error in the trading system

Neither LinGOLD nor its Members have the right to take advantage of any system failures.

LinGOLD’s system has been designed to protect all Members from obvious commercial errors by freezing orders made at prices which are considerably different to market prices at the time. In this situation, LinGOLD reserves the right to cancel an order.

  • Correction of accounting errors

If there is an administrative error, LinGOLD is entitled to make necessary changes to the account records of Members concerned.

  • Error in the security system

In the event of a security error, Members and LinGOLD accept that any reasonable corrections can be carried out following the event to guarantee that the system is operating correctly for all Members.

  • Storage and archiving of transactions

Archiving of orders, purchase orders, invoices and any other exchanges between a Member and other Members or a Member and LinGOLD are made on a reliable and durable back up system to create a reliable copy.

12. Obligations and Responsibilities

  • LinGOLD’s obligations

LinGOLD Ltd. is a registered British Company and as such respects all regulations applicable to its services and operations including compliance with robust financial standards, due diligence, legal requirements and police record checks.

LinGOLD does not organise or carry out any auctions.

LinGOLD is not a bank or credit establishment, insurance company or financial organisation of any type whatsoever.

It is expressly agreed that LinGOLD is subject to an obligation to provide the means necessary to carry out the responsibilities listed in these General Terms and Conditions.

LinGOLD will strive to provide all the care currently in use to guarantee that the website and services run correctly.

  • LinGOLD’s responsibilities

LinGOLD cannot be held responsible, in any way whatsoever, for the malfunctioning or defects of the website, changes in the gold market, monetary policies, bankruptcy, identity theft, liquidity risk and insurance exclusion clauses.

LinGOLD disclaims all liability for information, recommendations, misrepresentations and/or lies of any nature submitted by Members as well as any damage caused by the use of this information.

In the case of legal proceedings, the Member indemnifies LinGOLD against appeals by other Members or third parties, if the dispute originates from information, advice or photography supplied by the Member. In any event, as an information host, LinGOLD reserves the right to promptly remove without warning, information, advice, photography, supplied by the Member if it is illegal and has been reported as such.

  • Fight against money laundering and the financing of terrorism

It is the obligation of LinGOLD, under the Terrorism and Money Laundering Regulations, to fight against money laundering and the financing of terrorism:

to declare, in accordance with the Law, the amounts and transactions which could come from drug trafficking, fraud against financial interests, corruption or organised crime or which could be participating in the financing of terrorism, or transactions where the identity of the payer or payee is doubtful;

to ask the Member when transactions appear to be unusual as a result of their terms, the unit or total value or the unique nature in comparison with previous transactions carried out by the Member; this information concerns the origin and destination of the sums involved as well as economic proof of the transaction and the identity of the person who benefits.

As a result, LinGOLD may have to refuse some transactions.

As part of this framework, and when LinGOLD deems it to be necessary, the origin of funds and economic proof clarifying any transaction as well as any other related documents could be requested from the Member.

13. Disclaimer

  • Force Majeure

LinGOLD and any third parties involved in providing the service, will not be held responsible for any failure and/or delay in performing the service due to the occurrence of a force majeure usually recognised by the British Court of Justice as well as any causes beyond the control of LinGOLD such as acts of sabotage, network failures, coding errors in electronic files, limitations of software used or the inability to obtain telecommunications services or government action.

The situation of a force majeure suspends the obligations contained in these General Terms and Conditions for the entire duration of the situation. However, if the force majeure lasts more than thirty consecutive days, then either one or the other party has the right to automatic termination, fourteen days after sending a recorded letter with proof of receipt giving notification of this termination.

Due to the specific nature of the services it offers, LinGOLD agrees however, in the situation of a force majeure, to implement the means necessary to protect goods which have been entrusted to them and make it easier for them to be made available to their owners.

In the situation of a serious national or international crisis, a board of twenty of the most active Members will be assembled to help LinGOLD make the best decisions to ensure the service continues operating and the integrity and the best value of the goods stored by LinGOLD for all its Members.

It is thus possible that if there is a serious national or international crisis, LinGOLD, after consulting with the board of Members, will decide to change the physical location and nature of Gold coin storage owned by its Members. This type of transfer could result in a one off fee negotiated with the Member board and which would then be communicated to all Members or published on the Website.

  • Intellectual property rights

LinGOLD is the owner of all intellectual property rights of the Website and related components including its structure, its brand in particular all texts, comments, advice, recommendations, works, programs, illustrations and images reproduced. With the exception of making copies for private use, the Member is forbidden from copying.

14. Definitions

  • IP address

An IP address (Internet Protocol) is the number which identifies each computer connected to the Internet.

  • LinGOLD

The company supplying the services offered through the website www.LinGold.com or by any other means suitable for the fulfilment of its services.

  • Management Fees

An amount of money received by LinGOLD in return for acting as an agent between the seller or purchaser Members. The method of calculation is shown on the tariffs page and in the brochure posted on the website.

  • Member account

This is represented by a public pseudonym (Pseudo) and identification number supplied by LinGOLD. The account includes all information provided by the Member, activities the Member carries out on the website, access to website services which the Member is authorised to access and activities carried out by other Members concerning the Member.

  • Account credit

The section of the Member's account where the Member can find out the financial situation with LinGOLD and carry out transactions related to services which have been ordered.

  • Cookie

A cookie is defined by the HTTP communication protocol as a flow of information sent by an HTTP server to an HTTP client, which the HTTP client returns each time the same HTTP server is accessed.

Cookies are small text files stored by the web browser on a website visitor's device. Cookies store information about the visitor or their way of using a website.

  • Secure login details

A Member’s secure login details consist of a 6 letter public pseudonym and a 10 digit identification number which are automatically and randomly generated during Member registration. Each Member then selects a secret Personal Identification Number (PIN) consisting of four digits which is not known to LinGOLD. These Member secure login details are designed to protect the security & integrity of a Member account, the LinGOLD operating system and the identity of Members which remains anonymous in the public area of the site.

  • Storage costs

An amount of money requested from a Member as a lump sum or monthly payment for storage services. The calculation method is listed on the tariffs page of the web site and included in the LinGOLD brochure which can be downloaded from the Website.

  • Management cost

A lump sum of money paid to LinGOLD depending on the nature of the service ordered by the Member. Details will be provided upon request.

  • Storage

LinGOLD’s gold storage service, which provides storage in secure vaults for LinGOLD Members.

  • The Website or the LinGOLD website

The website www.lingold.com and its other versions or annexes (blog etc.), not including websites directed to by hypertext links which are for information purposes only.

  • Member

Any person or legal entity, over 18 years of age, who regularly uses LinGOLD and the website and who may be identified by a secure login to the Member account.

  • My Account

Section of Member's account displaying the available credit and reward credit

  • My Profile

Details of Member account only available to an individual Member once logged in securely.

  • My Purchases Vault

Lists items currently selected for purchase

  • User

Any person whether they are a Member or not, who accesses the website www.lingold.com via the Internet or any other communications method.

  • Sponsor Member

Any Member who provides LinGOLD with the details of a third party, person or legal entity who might be interested in LinGOLD’s products and services.

  • Prospective Member

Any person or legal entity that has never been a Member of LinGOLD whose details have been supplied to LinGOLD by the Sponsor Member.

  • Rewards Credit

Part of the Member's account that is credited by revenue generated from referrals and/or possible discount coupons received by the Member. This account is shown adjacent to the Member's actual account of transferred funds. This account may only be used for discounting purchases carried out on the Website. Credit in the Member's rewards account can be used as payment or part payment for purchases, storage or services on LinGOLD.com The rewards account is reset to zero on the 31st of December each year.