Payment and Cancellation Policy
Most of our customers are very satisfied with the products that they receive. Sometimes, however, you may find that the products that you receive are circulated (previously owned) or seem to have some reddish or whitish spots on them. Most of these spots and marks are just residues of chemicals used in the manufacturing process by the Mints or Refiners. Often, they can be polished off with a soft cloth. Even if they are hard to clean off, they do not impact the value of the coin/bar because they are not impurities but just superficial marks.
Your coins/bars are no less valuable because they have these marks. The value of precious metal bullion coins and bars depends primarily on their metal content and not on their appearance. Minor blemishes and regular wear and tear do not deplete the value of precious metal bullion coins and bars. Your coin/bar will fetch its full market price whenever you resell it.
Despite this, if you are still unsatisfied with your products and would like to have them exchanged, please call +65 6223 0185 within three business days of receiving the products. Our customer service representative will be happy to process your exchange. Please note, however, that:
· A like-for-like exchange can only be done if the products that you bought are in stock.
· If the product that you bought is unavailable, you might be offered a similar product in exchange.
· If the product that you are offered in exchange is more expensive than the original products that you bought, you will be charged the difference.
· We cannot guarantee that the products that you are sent in exchange will be uncirculated.
· You must send your original products to IPM in their original packaging by any shipping method of your choice, at your own cost.
· IPM will charge you at the usual applicable rate for shipping products in exchange.
Our products come directly from the refiners and hence are guaranteed genuine. Products once sold, cannot be returned under any circumstances. IPM can only offer to exchange your products. We do not offer refunds, but we can buy back your products from you at the prevailing market price at any time.
For information on selling products back to IPM, see our “Selling precious metal bullion products FAQs”.
If the client cancels an invoice, there are Cancellation Charges which consist of the following…
1. S$40 or 5% of Order Total (whichever is higher)
2. Market Loss charge on order cancellation (per order basis) calculated based on the selling price difference between the order date and time and the cancellation confirmation received from client.
When you cancel a purchase, in addition to paying an administrative fee, you may have to reimburse IPM for any market loss we sustain as a result of the cancellation of your purchase. If there is no change or an increase in price from the time you make your purchase to the time it is cancelled, you will be charged only the administrative fee.
However, if we do sustain a market loss (i.e. if the price of the precious metals you were purchasing falls below the price at which you agreed to purchase them), you will be charged as illustrated by the following examples.
| Gold Example | Unit price of your transaction | Unit price at the time of cancellation | Quantity | Loss or gain (unit price difference multiplied by quantity) | Market loss / repayment to IPM |
| Example 1 | $ 1,200.00 | $ 1,130.00 | 10 oz | ($1,130 – $ 1,200) x 10 = – $700 | $ 700.00 |
| Example 2 | $ 1,200.00 | $ 1,240.00 | 10 oz | ($1,240 – $ 1,200) x 10 = + $400 | $ 0.00 |
If your purchase is cancelled at your request before the payment deadline, the market loss will be calculated using the relevant IPM live spot price that prevails at the time when you request the cancellation.
IPM will issue multiple payment reminders before cancelling your purchase. If your purchase is cancelled due to non-payment, the market loss will be calculated using the last available price fixing published by the London Bullion Market Association (the London PM Fix) on the day that the payment deadline expires.
Any market loss repayment and administrative fees that you owe may be charged to your credit card or deducted from your cash balance held with us. We will send you an email to notify you of the charge.
Your payment must be received by IPM no later than two business days from the date on which a price is confirmed for your purchase.
If we do not receive your payment by this deadline, IPM may deem your purchase to be cancelled and you may be liable for market loss repayments and other fees, as described in our T&C (Terms and Conditions).
If you expect your payment to be delayed, please call +65 6223 0185 to have this fact noted on your account. We will obviously make a special circumstance on late payments if you inform us before deadline.