Terms and Conditions
Terms and Conditions
Updated: Apr 18, 2019
1. Definitions and Interpretation:
For the purpose of these Terms and Conditions, the following terms shall have the meanings specified below, unless otherwise indicated:
“Agreement” or “Terms and Conditions” shall mean these terms and conditions that shall govern the relationship between Kitco and the Customer with respect to the Online Gift Store, except as otherwise specifically provided for, and as same may be amended from time to time, without notice;
“Customer” shall mean a customer who enters into a transaction with Kitco for the purchase of physical Silver Gift Products and is in compliance with these Terms and Conditions between the Customer and Kitco;
“Customer Purchase Transaction” shall mean any sale operation whereby Kitco sells physical Silver Gift Products to its Customer;
“Kitco” shall mean Kitco (Asia) Limited and Taiwan Kitco Precious Metal Company Limited;
“Online Gift Store” shall mean and refer to Kitco’s Online Gift Store, available at https://kitcoasiagift.com ;
In these Terms and Conditions, unless inconsistent with the context, words denoting person include corporation and firm, words denoting masculine gender include feminine gender, and words denoting singular number include plural number and vice versa.
The Section headings herein are inserted for convenience only and for reference, and in no way define, limit or describe the scope of these Terms and Conditions or the intent of any provision thereof.
The following Terms and Conditions shall govern all transactions between the Customer, whose shipping location is either in Hong Kong or in Taiwan, and Kitco which are placed via
- Kitco’s Online Gift Store
- Kitco’s service hotline
- Kitco’s Retail Store
Customers wishing to purchase from Kitco must create an account with Kitco on the Online Gift Store and must provide a valid telephone number and electronic mail address. The Customer acknowledges that Kitco relies on the veracity of all information provided by the Customer when opening an account. By agreeing to these Terms and Conditions, the Customer warrants that all information provided is true and accurate.
3.1. Acceptable Methods of Payment
Kitco accepts cash payments (Hong Kong store: the upper limit is HKD 30,000; Taiwan store: the upper limit is TWD 200,000) and bank wire for in-store purchases. For online transactions, Kitco accepts payments via PAYPAL only.
Note that for any single transaction, payment can be made by only one method. Multiple bank wires will not be accepted as payment for a single order.
Kitco may refuse payments or funds (in any form whatsoever, including, without limitation, cheques, bank drafts, money orders or bank wires) received from an individual or from an entity that is not the named account owner. Furthermore, Kitco may request additional documentation before such payment are applied to Customer’s Kitco account.
Customers can obtain PAYPAL payment information at the end of the online ordering process. Once the transaction has been submitted and the payment is settled, the Customer will receive an order confirmation by email.
3.3 Bank Wires or International Bank Wires
Bank Wires or International Bank Wires may be subject to correspondent bank fees that are deducted while a wire is in transit. As Kitco’s bank is simply the recipient bank, it is impossible to determine the fees that may be deducted by any correspondent banks. The Customer should confirm with their banking institution the exact amount that may need to be included in the wire to cover all fees that may be deducted. Kitco highly recommends that all relevant Customers to include an additional amount on their bank wire to accommodate any fees that may be charged by a correspondent bank.
Customers may also request confirmation of any correspondent bank fees upon initiation of a bank wire. Kitco suggests Customers contact their banking institution for further clarification.
3.4. Completing a Customer Transaction
A Customer Purchase Transaction is completed when payment is received in full and Kitco performs its principal obligation.
For Customer Purchase Transactions of physical Silver Gift Products, Kitco's principal obligation is presumed to have been performed if Kitco attempted to deliver the physical Silver Gift Products but was prevented from doing so by the actions or negligence of the Customer, or when Kitco consents to the Customer taking possession of the physical Silver Gift Products.
Legal ownership of the physical Silver Gift Products will be considered transferred from Kitco to the Customer once the transaction is completed.
4. Transaction Cancellations
Transactions may be cancelled at the Customer’s request, provided payment has not been received in full. Customers must submit all requests for cancellation by telephone or in person only. Goods sold upon pick-up or delivery are not returnable nor refundable.
5.1. Shipping Fees
Under normal circumstances, no shipping fees will be required. If the customer requests Kitco to arrange delivery to a remote area, additional fees may apply.
5.2. Taxes and Duties
All products quoted on Kitco Online Gift Store are exclusive of sales tax. According to the law in Taiwan, 5% Value-added Tax and 4/10000 of Trade Promotion Service Charges will be applied on Silver Gift Products.
6. Transfer and Use of Personal Information
For avoidance of doubt, Customer hereby consents and authorizes Kitco to transfer said personal information and to its use by Kitco’s parent company affiliated companies or subsidiaries pursuant to the terms of this Agreement.
Kitco has not offered or given and will not provide any advice in connection with any transaction and has not offered or given any opinion with respect to the suitability of any transaction made or which might be made by the Customer.
The Customer warrants that Kitco has not offered or given any advice to Customer in connection with the products and services offered by Kitco. In addition, Kitco has not given Customer any opinion with respect to the suitability of any of its products for Customer.
8. Kitco’s Rights
Kitco hereby reserves the following rights and the Customer acknowledges and agrees to the following:
- Kitco may adjust retail prices at any time without prior notice.
- Kitco may withdraw or limit the products or services provided by telephone, in person and on Kitco’s Online Gift Store, or may suspend the availability of Kitco’s Online Gift Store, or suspend the booking of transactions submitted to Kitco, without notice at any time.
- Kitco may cancel or reject any order at any time.
- Kitco may place limits on the amounts that may be offered for sale in any twenty-four (24) hour period.
- Kitco may terminate this Agreement at its sole discretion and may freeze an account or close an account at any time for any reason including but not limited to the abuse of policy, criminal activity, circumvention of Kitco’s web security services, and any other violation of these Terms and Conditions.
9. Limitation of Liability
Kitco hereby reserves the following rights and the Customer acknowledges and agrees to the following:
9.1. Capital Gains/Income Taxes
Kitco does not report any Customer transactions to the government authority unless it is required by law or court order; however, the purchase of Silver Gift Products may be considered reportable as taxable income in the relevant jurisdiction. It is the Customer's responsibility to contact a financial advisor for further information. Kitco will not be held liable for any capital gains or tax implications due to the purchase of Silver Gift Products by the Customer in the relevant jurisdiction.
9.2. Technical Issues
9.2.1. Electronic Order Entry Risk Disclosure and Disclaimer
Kitco specifically disclaims any liability or responsibility for orders placed via the Kitco online order entry system, for any losses, or direct, indirect, consequential or incidental damages, which the Customer may recognize or incur as a result of the use of the Kitco online order entry system. Further, Kitco specifically disclaims any liability for the interruption, cancellation or other termination of the Kitco online order entry system.
All orders placed through the order entry system are taken on a reasonable efforts basis. Kitco shall not be responsible for errors, negligence or inability to execute orders. Nor shall Kitco be responsible for any delays in the transmission, delivery or execution of Customer's order due to breakdown or failure of transmission or communication facilities, or to any other cause or causes beyond Kitco's reasonable control or anticipation.
9.2.3. Possible System Failure
Order entry systems have been designed to provide an efficient and dependable method for entering orders. Commercial internet service providers are not 100% reliable and a failure by one or more of these providers may affect internet based order entry. The Customer acknowledges that the order entry system is a mechanical system and as such may be subject to failure beyond the control of Kitco.
9.3. Internet Security
Kitco adheres to the tight security measures to ensure Customer data is protected against theft, loss, and corruption, and against the misuse and alteration of any Customer data stored on Kitco’s servers. However, when a Customer accesses their account via a public or unsecured computer terminal or if a Customer chooses to share their account username and password (“Electronic Identification Information”), Kitco cannot guarantee the security of account data.
Sensitive communication between the Customer and Kitco’s Online Gift Store is always protected via encryption while in transit, using the SSL encryption standard. However, the Customer should be aware that Kitco has no control over the privacy of Customer e-mail communications with us. We highly recommend that Customers not include private and sensitive information in e-mails to Kitco, including, but not limited to, account numbers, balances, passwords, Electronic Identification Information, etc. Kitco will not be held liable for any damages suffered by Customers should they transmit confidential or sensitive information to Kitco through e-mail.
Information provided on Kitco’s website is not intended to provide legal, accounting, or tax advice, and should not be relied upon in that regard. Kitco is not responsible in any manner for direct, indirect, special or consequential damages howsoever caused, arising out of the use of its website.
Except as otherwise expressly provided, Kitco shall not be liable for any loss or damage, whether direct or indirect, resulting from the transactions contemplated by these Terms and Conditions.
Kitco shall not be liable under any circumstances whatsoever for special, incidental, consequential, indirect or punitive losses or damages (including lost profits or lost savings), whether or not caused by the fault or neglect of Kitco and whether or not Kitco had knowledge that such losses or damages might be incurred.
The limitations and exclusions in this Section shall apply to all claims of whatsoever nature, kind and description, whether arising from breach of contract, delay or non-delivery of services, negligence or otherwise.
9.5. Force Majeure
Kitco shall not be liable for any failure to perform its obligations hereunder due to fire, computer viruses, network failure, computer hardware failure, explosion, flood, lightning, act of terrorism, war, rebellion, riot, sabotage, orders or requests of any government or any other authority, legislative changes, strikes, lockouts or other labour disputes, or events or circumstances beyond its reasonable control, but Kitco shall use commercially reasonable endeavors to minimize dangers or losses to the Customer as a consequence of such events.
10. Customer Obligation and Liability
10.1. Compliance and Due Diligence
The Customer is responsible for complying with all laws of the jurisdiction from which the Customer accesses the Kitco Website or receives the services described herein, and the Customer shall at all times be solely responsible for obtaining any authorizations required by any authoritative body in such jurisdiction.
The Customer has carried out reasonable due diligence to ensure that the purchase Silver Gift Products as provided under these Terms and Conditions is not contrary to any laws or regulations of the Customer’s governing jurisdiction, and that the acceptance of these Terms and Conditions by the Customer and the entering into of a Customer Purchase Transaction is not contrary to any federal, provincial, state, special administrative region, city, or any other law or regulation applicable to the Customer.
10.2. Protection of Electronic Identification Information
It is the Customer’s obligation to ensure that its Electronic Identification Information is kept secret. The Customer agrees to keep their Electronic Identification Information and all components thereof secret and safe to prevent unauthorized use.
If a Customer believes that any transaction or balance recorded in their account is incorrect, the Customer must contact Kitco immediately to notify Kitco of suspected unauthorized use of Customer’s Electronic Identification Information. Customers are responsible for ensuring the accuracy of the information displayed in their account, howsoever accessed. Kitco will not be held liable should a Customer fail to disclose any unauthorized use of Electronic Identification Information and Customer’s Kitco accounts.
10.4. Customer Liability
Kitco will be under no obligation to confirm the actual identity or authority of any user of the Electronic Identification Information or any component thereof.
The Customer will not be responsible for any unauthorized use of Electronic Identification Information occurring after notifying Kitco of the suspected unauthorized use as indicated in sub-section 10.3 above.
11. Intellectual Property, Trademarks, Logos
All of the intellectual property rights including without limitation trademarks, service marks, trade names, copyright and other rights used or embodied in this website are and will remain the sole property of Kitco (or its suppliers where applicable).
All information and material supplied by Kitco, constitutes part of Kitco's confidential and proprietary information and no Customer participating in any of its programs may reproduce, copy or disclose such information without the prior written consent of Kitco.
No party accessing this website may attempt to tamper with, modify, reverse engineer, gain unauthorized access to, or in any way alter any software used in Kitco’s programs or comprising Kitco’s website.
12.1. Changes to Terms and Conditions
Kitco reserves the right to amend these Terms and Conditions, any applicable fees and charges, or any services, rights or obligations provided for herein at its sole discretion, at any time, without prior notice to the Customer, unless it is related to the collection, processing and utilization of customer personal data. Acceptance of these Terms and Conditions is limited to the acknowledged transaction and is not applicable to any future transactions. The Customer will be responsible for accepting the Terms and Conditions for every subsequent transaction.
12.2. Applicable Law
Applicable law and jurisdiction of this agreement shall be determined by the delivery region of the transaction. This Agreement shall be governed by and construed in accordance with the laws applicable in Hong Kong or Taiwan. The Parties hereby irrevocably submit to the non-exclusive jurisdiction of the Courts of Hong Kong and Taipei, Taiwan in respect of all matters or disputes arising from the Agreement, except as otherwise specifically stated herein.
12.3. Binding Effect
This Agreement is binding upon the parties hereto and their respective successors, heirs, legal representative and permitted assigns, unless it is related to the collection, processing and utilization of customer personal data.
In the event that any provision in this Agreement is determined to be invalid, illegal, or unenforceable, such determination shall not affect the validity and enforceability of any other remaining provisions of this Agreement.
The parties hereto have expressly required that this agreement and all deeds, documents or notices relating thereto be executed in the English language. Should there be a Chinese translation and there be any discrepancy between the English version and Chinese version, the English version shall prevail.
Kitco Online Gift Store Terms & Conditions-v3.0
This document contains confidential and proprietary information of Kitco (Asia) Limited and Taiwan Kitco Precious Metal Company Limited