General terms and conditions

IDENTIFICATION AND CONTACT DETAILS

Company name: Legyen Aranyad s. r. o.
Registered office: 943 01 Štúrovo, Jesenského 49/23
Company ID (IČO): 44 746 989 | Tax ID (DIČ): 2022819018
Commercial Register: District Court Nitra, Section Sro, File No. 24421/N
IBAN: SK17 0900 0000 0002 4301 0596
BIC/SWIFT: GIBASKBX
Email: info@legyenaranyad.eu | Tel.: +36 70 945 2299
Website: legyenaranyad.eu

1. BASIC PROVISIONS

1.1. These General Terms and Conditions (hereinafter the “GTC”) govern certain mutual rights and obligations arising from the legal relationship between Legyen Aranyad s. r. o. (registered office: 943 01 Štúrovo, Jesenského 49/23, company registration number/IČO: 44 746 989, tax identification number/DIČ: 2022819018, registered in the Commercial Register of the District Court Nitra, Section Sro, File No. 24421/N; hereinafter the “Service Provider”) and the Customer in connection with the purchase of investment gold—gold coins (hereinafter “gold” or “investment gold”). The contractual relationship is established under a commission agreement (where the buyer is a business) or a consumer commission agreement for the purchase of gold (where the buyer is a consumer) (hereinafter the “Agreement”).

1.2. A Customer is a person who intends to purchase or store investment gold through the Service Provider (hereinafter the “Customer”). Every Customer must undergo registration and identity verification. Registration is a condition of purchasing investment gold. The Service Provider does not sell gold to unregistered or unidentified persons. Registration is performed manually through the Service Provider’s sales representative and Back Office. Before entering into the Agreement, the Service Provider verifies the Customer’s identity on the basis of the identity documents presented and in accordance with the applicable legislation (in particular the legislation on the prevention of money laundering and terrorist financing). If identification is successful and there is no statutory impediment, the Service Provider approves the Customer’s registration in its internal system and prepares a draft Agreement. Only a Customer registered and identified in this manner may enter into a Commission Agreement or Consumer Commission Agreement.

1.3. The Service Provider may also enter into an Agreement containing individual pricing terms with a particular Customer.

1.4. The fineness of the gold is specified in the Agreement (24 carat, 999.9/1000 fineness), while its type may change during performance (for example, to a product from another manufacturer holding LBMA Good Delivery accreditation).

1.5. The Service Provider and the Customer enter into an Agreement under which the Service Provider purchases investment gold from its contracted wholesaler operating in the Czech Republic in its own name but for the Customer’s account. The purchased gold immediately becomes the Customer’s sole property and, depending on the Customer’s request, is either delivered or remains securely and separately stored, with valuables insurance, in the safe at the Service Provider’s registered office until the Customer makes a further decision. At the Customer’s request, the Service Provider arranges the sale of the gold to the wholesaler free of charge. The Service Provider stores gold purchased from it free of charge at the Customer’s request.

1.6. Every purchased gold bar or coin is 24 carat, of 999.9/1000 fineness, and has LBMA Good Delivery accreditation.

1.7. The Service Provider acts with the Customer’s interests in mind at all times and endeavours to secure the most favourable price for the Customer both when purchasing the gold and when selling it to the wholesaler.

2. FORMATION OF THE AGREEMENT AND COMMUNICATION

2.1. Administration relating to the Agreement and communication between the parties take place primarily by electronic means, through the legyenaranyad.eu website and by email, to which the Customer expressly consents.

2.2. The final price of investment gold is the current world-market (wholesale) gold price plus a 10% commercial margin. The price changes throughout the day, so the price is fixed for the Customer at the time of the order. This price applies if the Customer’s payment is credited to the Service Provider’s account between 10:00 and 14:00 on that day. If payment is received after 14:00, the world-market gold price on the next business day applies, plus the 10% margin. The Customer may obtain up-to-date prices from the Service Provider’s sales representative at any time. The representative explains the terms and collects the documents required for the purchase. The representative then prepares the Agreement and forwards it to the Back Office, which registers it in the system, assigns it a unique identification number (which will be used as the variable symbol/reference on the payment order), and submits it to the Service Provider’s representative for signature. Once signed, the Back Office sends the Agreement to the Customer. The Customer then pays the purchase price. The Agreement is concluded when the purchase price is credited to the Service Provider’s account.

2.3. The Service Provider does not operate an automated online ordering system. Gold is ordered through direct communication between the Customer and the Service Provider’s sales representative. Based on the Customer’s requirements and the documents presented, the representative prepares a draft Agreement and forwards it to the Service Provider’s Back Office for processing. The Back Office checks the documents, registers the Agreement in the system, assigns the unique identification number (Agreement number/variable symbol), and submits it to the Service Provider’s managing director for approval and signature. Following approval, the Back Office sends the completed Agreement to the Customer.

2.4. The contractual relationship is validly and effectively established when the Customer pays the purchase price stated in the Agreement and that amount is credited to the Service Provider’s account (with the variable symbol/reference corresponding to the Agreement number stated on the payment order). The Customer must verify the information in the Agreement before making payment. By paying the purchase price, the Customer also confirms acceptance of these GTC and the privacy notice published on the legyenaranyad.eu website.

2.5. The Service Provider reserves the right—while immediately refunding any amount already paid by the Customer—to refuse to perform an agreement or order where it is required to do so under legislation on the prevention of money laundering and terrorist financing (AML legislation).

2.6. The Agreement may contain provisions that differ from these GTC. Such differing arrangements take precedence over the GTC. The provisions of the GTC form an integral part of the Agreement.

3. PURCHASING GOLD AS SAVINGS

3.1. In addition to placing a one-off order, the Customer may, for the purpose of ongoing gold savings, freely determine a target amount to be used for purchasing gold and reach that target by paying it progressively, through monthly payments or another regular payment schedule made available by the Service Provider. In this case, the parties enter into a gold savings agreement under a mandate agreement. For ongoing gold savings, the Customer is not obliged to make payments pledged in advance for future periods; the Customer may make payments without any time limit until reaching the target amount they have set. The Customer may also declare that they do not wish to make any further payments, and such a declaration constitutes termination of the gold savings agreement. In that case, the Service Provider purchases gold for the Customer only up to the value of the portion of payments actually made that is allocated to purchasing gold.

4. ORDERING, IDENTIFICATION, AND RECEIPT OF GOLD

4.1. Orders are processed between 10:00 and 14:00 on every business day. If the Customer’s payment is credited to the Service Provider’s account between 10:00 and 14:00 on a business day, the Service Provider makes every effort to purchase the gold that day or, in exceptional cases, on the next business day. If payment is received after 14:00, the Service Provider purchases the gold on the next business day at the price offered by the Service Provider on that next business day. Upon receipt of payment, the Service Provider promptly arranges the purchase of the appropriate quantity of gold according to the current market price. The Service Provider sends the Customer confirmation of when the gold was purchased, together with a detailed statement prepared for the minute of purchase. Unless otherwise agreed, the Service Provider refunds any overpayment within 5 days to the account from which the payment was received. The Service Provider fulfils Customer orders in the sequence of their Agreement numbers. Only where the Service Provider is unable to purchase the gold on that day will it purchase the gold on the next business day at the price offered on that next day.

4.2. In the case of Agreements containing a gold savings agreement, the Service Provider purchases gold progressively, in each case on the first business day after the end of the month, using the payments allocated to the purchase. Accordingly, the current world-market (wholesale) gold price on the first business day following the savings month applies in this case as well.

4.3. If the Customer specifies the denomination and type of gold they wish to purchase, the Service Provider sends an individual quotation based on that request; Section 2 governs the formation of the Agreement.

4.4. Any amount remaining after the Service Provider purchases the gold, from which no further gold can be purchased because of the smallest available weight, is either refunded to the Customer in accordance with the choice stated in the Agreement or, in the case of savings agreements under Section 3.1., applied to the next purchase. If the Customer later wishes to change this choice, they must notify the Service Provider by email at info@legyenaranyad.eu.

4.5. The Service Provider safeguards the gold by placing it in the safe at the Service Provider’s premises at 5 Szent István Street, Štúrovo.

4.6. The Customer may request delivery of the gold they own, primarily to the address specified in the Agreement. Delivery may also be requested to another address in Slovakia. In the case of regular payments under Section 3.1., delivery takes place once at least 20 grams of gold has been accumulated. The Service Provider always endeavours to make delivery as soon as possible. The Service Provider makes delivery as follows:

a) Within Štúrovo, to the address specified by the Customer, regardless of quantity—free of charge.
b) Outside Štúrovo but within Slovakia, at the Customer’s request, for a fee of EUR 50 for every 100 km or part thereof. The Service Provider may decide on an individual basis—particularly in view of the value of the order—to make personal delivery free of charge.
c) The Customer may also collect the gold in person at a place and time agreed in advance.
d) The Service Provider sends smaller consignments by post. For postal delivery, the Customer bears the shipping and insurance costs.

4.7. Upon receipt, the Customer must immediately verify that the performance conforms in terms of form (shape), fineness, and weight, and check the quantity, mechanical condition, and integrity of the gold’s packaging. A Certificate of Receipt of Investment Gold (Potvrdenie o prevzatí) is completed when the gold is received. The Customer must record any defect or damage identified upon receipt on the certificate of receipt and, at the same time, report it to the Service Provider in writing within 24 hours of receipt. If the Customer refuses to accept the gold, they must inform the Service Provider of the reasons within 24 hours at the latest. If the original packaging is damaged or there is another defect that the Customer should have noticed upon receipt, the Customer may accept the gold at their own risk; in that case, however, they may not assert any warranty or other claim against the Service Provider.

4.8. The Agreement is fully performed and terminates upon delivery and receipt of the gold or, in the case of savings agreements under Section 3.1., when gold corresponding to the full target amount has been successfully purchased and no objection under Section 4.7. has arisen during delivery. Where the gold is kept/stored, the Agreement is performed and terminates when storage ends and the Customer takes possession of the purchased gold.

4.9. Gold is generally handed over at the Service Provider’s premises in Štúrovo. The Customer acknowledges that the Service Provider hands over gold subject to strict security measures. Only one person receiving the gold may be present at the Service Provider’s premises at any one time, without any accompanying person; after that person enters, the Service Provider locks the premises and ensures compliance with security standards. The Service Provider reopens the premises only after the Customer has taken possession of the gold. From the moment the Customer leaves the Service Provider’s premises, the Customer is responsible for all handling of the gold. The Service Provider’s premises are monitored by CCTV in compliance with its internal rules governing the operation of the CCTV system.

5. THE SERVICE PROVIDER’S MARGIN AND COSTS

5.1. The Service Provider’s margin is 10% of the purchase price of the gold to be purchased. Under the VAT Act, the sale of investment gold is exempt from VAT. The margin includes the Service Provider’s storage costs and the costs of any sale to the wholesaler. The Customer bears the costs of return transport and delivery in accordance with Sections 4.6. and 6.1. where delivery was not free of charge. The Customer bears the fees charged by financial and other service providers in connection with their payments, such as transaction tax or bank currency-conversion charges. The margin constitutes the Service Provider’s commission.

5.2. The amount intended for purchasing gold when the Agreement is concluded, as well as all payments and disbursements relating to the Agreement, are settled and recorded in euros, irrespective of the currency of the transfer. The Service Provider accepts payment in euros and Hungarian forints; an amount paid in forints is converted into euros. The Service Provider permits payment exclusively by bank transfer; cash payments are not accepted.

5.3. In the case of gold savings referred to in Section 3.1., the intermediary fee is calculated on the basis of the total target amount intended for purchasing gold as stated on the agreement form and is paid by allocating 50% of each payment made by the Customer to that purpose until the fee has been paid in full.

6. SALE OF THE CUSTOMER’S OWN GOLD AND SUCCESSION

6.1. If the Customer wishes to sell gold they own and purchased from the Service Provider to the wholesaler, the Service Provider arranges the sale free of charge upon request. The Service Provider charges no separate fee for arranging the sale to the wholesaler. The conditions set out in Section 4.6. apply to return transport and any related charge.

6.2. Any transfer or passing (by inheritance) to another person of the Customer’s ownership of stored gold or other contractual rights must be reported using the form provided by the Service Provider. If the succession is reported by the successor, they must present documentary proof of it (for example, an agreement or certificate of inheritance). The successor may be required to provide further declarations and information in accordance with the provisions of anti-money-laundering legislation and data-protection rules.

7. DATA PROTECTION (GDPR)

7.1. The controller is Legyen Aranyad s. r. o. (registered office: 943 01 Štúrovo, Jesenského 49/23, IČO: 44 746 989, registered in the Commercial Register of the District Court Nitra, Section Sro, File No. 24421/N). It processes the Customer’s personal data in accordance with Regulation (EU) 2016/679 of the European Parliament and of the Council (GDPR) and the Slovak Data Protection Act (Act No. 18/2018 Coll.).

7.2. The controller processes personal data for the following purposes:

a) Performance of the Agreement: Processing contact, billing, and delivery details (first name, surname, address, email address, and telephone number) is essential for processing the order, fixing the investment-gold price, issuing the invoice, and delivering/handing over the goods to the Customer.
b) Compliance with legal obligations: Data is processed for bookkeeping, compliance with tax legislation, and fulfilment of anti-money-laundering (AML) obligations (including verification of the Customer’s identity at the statutory thresholds).
c) Legitimate interests: Data is processed to protect property and to resolve any complaints and legal disputes.
d) The Customer’s consent: Where the Customer gives voluntary consent, the Controller processes the email address for marketing purposes (sending newsletters, gold-price summaries, and news). This consent may be withdrawn at any time.

7.3. Recipients of data: The Customer’s personal data is disclosed only to vetted organisations where this is essential for the performance of the Agreement or compliance with legal obligations. These include, in particular: - Providers of accounting, auditing, and legal services, - Haulage companies and postal and courier services providing insured transport of valuables, - IT service providers, hosting providers, and operators of gold-price-fixing systems, - Competent public bodies and authorities (for example, the Financial Intelligence Unit and the tax authority) where disclosure is required of the Controller by law.

7.4. Data-retention period: The Customer’s personal data is retained for as long as necessary to fulfil the purpose of processing. Data in sale and purchase agreements and invoices must be retained for 10 years under tax and accounting rules. Data processed under AML legislation is retained for the period prescribed by law (generally 5–10 years after completion of the transaction). Data processed for marketing purposes is retained until the Customer withdraws consent.

7.5. Rights of the Customer (data subject): The Customer is entitled to request access to their personal data from the Service Provider and may request its rectification, erasure (the right to be forgotten), or the restriction of its processing; object to processing; and exercise the right to data portability. The Customer is also entitled to lodge a complaint with the Office for Personal Data Protection of the Slovak Republic (Úrad na ochranu osobných údajov SR) if they believe that their data is being processed unlawfully.

7.6. Principles of data processing: Detailed and comprehensive information on the processing and security of personal data and the exercise of rights is contained in the Privacy Notice (Informačné memorandum) of Legyen Aranyad s. r. o., which is continuously available on the Service Provider’s website. By entering into the Agreement, the Customer confirms that they have read and accept the processing of personal data to the extent specified in these GTC and on the Service Provider’s website.

8. USE OF COOKIES

8.1. Use of cookies:

Purpose of processing: The Controller uses cookies and similar technologies on its website to ensure that the website functions properly, personalise content, analyse traffic, and measure the effectiveness of marketing campaigns.
Necessary cookies: The use of necessary (technical) cookies is essential to the operation of the website’s basic functions, in particular to guarantee the stability and security of the indicative gold prices and to handle contact forms securely. These cookies are processed without the Customer’s consent because they are necessary for the website to function properly.
Analytics and marketing cookies: The use of analytics and marketing cookies (including conversion tracking and remarketing) is subject to the Customer’s voluntary and informed consent, which may be given through the cookie banner when first visiting the website. The Customer may withdraw, amend, or restrict this consent at any time.
Managing cookies: Disabling necessary cookies may, however, cause the website to malfunction, particularly when displaying indicative prices and exchange rates.

9. FINAL PROVISIONS

9.1. The Service Provider may amend or supplement the wording of these GTC. Amended or supplemented GTC apply only to Agreements concluded after the amendment.

9.2. The GTC are published on the legyenaranyad.eu website.

9.3. Legal relationships established by the Agreement are governed by the law of the Slovak Republic, even where the legal relationship contains an international element—for example, where the Customer is a foreign national. The law of the Slovak Republic applies, and the competent courts of the Slovak Republic have jurisdiction, for the resolution of disputes.

9.4. If any provision of the GTC is or becomes invalid or ineffective, the invalid/ineffective provision is replaced by the lawful provision that comes closest to the meaning and purpose of the invalid provision. The invalidity or ineffectiveness of any provision does not affect the validity of the remaining provisions.