These Funding & Payment Terms form part of the Indigo Precious Metals General Terms of Use & Trade and govern the funding, payment, settlement, and verification of all amounts payable to Indigo Precious Metals Pte. Ltd. (the “Company”).

These Funding & Payment Terms must be read together with all other applicable terms issued by the Company, including the General Terms of Use & Trade, any applicable Vaulting Service Agreement, and any applicable Bullion Savings Program terms, as amended from time to time. (collectively, the “Terms”).

In the event of any inconsistency between these Funding & Payment Terms and the General Terms of Use & Trade, the General Terms of Use & Trade shall prevail.

1. For physical bullion orders, full payment or, where permitted by the Company, the required deposit must be received within one (1) Business Day from the date of Price Lock, unless otherwise agreed by the Company in writing.
2. Where the Company permits payment by deposit, the deposit may be required to secure a Price Lock and guarantee execution. The transaction price shall only be fixed when the Company confirms Price Lock in accordance with the General Terms of Use & Trade.
3. Where the Company has agreed to accept a deposit and deferred balance payment, the balance of the purchase price must be received within two (2) Business Days from the date of Price Lock, unless otherwise agreed by the Company in writing.
4. Funds Not Received: If the balance settlement funds are not received within the required period, the Company reserves the right, at its sole discretion, to:
   1. cancel the order, particularly where the relevant products are no longer available;
   2. issue a revised quotation based on prevailing market prices;
   3. apply any rights, remedies, fees, losses, costs, or charges available to it under the Terms; and/or
   4. treat the matter as a default under the applicable Terms.
5. Payment may also be made in cash in Singapore dollars (SGD) upon collection at the Company’s office in Singapore, subject to:
   1. prior notice being given to and accepted by the Company; and
   2. compliance with all applicable laws, regulations, reporting obligations, and internal compliance requirements of the Company.
   3. The Company may impose cash payment limits from time to time in accordance with its internal compliance requirements.
6. Any request for an extension of time for payment must be made to the Company by telephone or email, and any extension shall be granted strictly at the Company’s sole discretion and only if confirmed in writing.

1. Storage fees are charged quarterly in arrears and must be paid within five (5) Business Days from the date of the Company’s invoice, unless otherwise agreed in writing or stated in the applicable storage or vaulting agreement.
2. Where Customer metals are withdrawn, transferred, or sold in full, the Company may issue a final storage invoice covering all storage fees and related charges accrued up to and including the date of withdrawal, transfer, or sale.
3. All storage fees remain payable in full notwithstanding any pending withdrawal, transfer instruction, or sale process, unless otherwise expressly agreed by the Company in writing.

The Company may, at its sole discretion, accept payment by any of the following methods:

1. bank transfer in currencies accepted by the Company from time to time;
2. electronic funds transfer;
3. personal cheque in Singapore Dollars (SGD), United States Dollars (USD), or Euros (EUR), subject to clearance and only where drawn on a Singapore bank account acceptable to the Company;
4. cash payment in Singapore Dollars (SGD), subject to applicable legal, regulatory, reporting, and internal compliance requirements; and
5. such other payment methods as the Company may approve from time to time.

The Company reserves the right, at its sole discretion, to refuse, reject, limit, suspend, or impose conditions on any payment method at any time, without prior notice.

The Company may impose administrative, processing, convenience or other applicable fees in respect of certain payment methods, including without limitation payments made by credit card, debit card or cryptocurrency-related settlement channels. Any such fees shall be charged in accordance with the Company’s applicable Schedule of Charges, as updated from time to time on the Company’s Website or otherwise notified to the Customer.

The Company does not accept direct cryptocurrency payments and does not accept, hold, custody, convert, exchange or transfer cryptocurrency for Customers. Where the Company permits cryptocurrency-related settlement, such settlement must be facilitated through a third-party service provider approved by the Company and shall be subject to the third-party service provider’s terms, conditions, compliance checks, fees, exchange rates, processing times and approval requirements. The Customer must contact the Company in advance and obtain the Company’s approval before making any cryptocurrency-related settlement arrangement.

All sums payable by the Customer to the Company shall be paid in full, free and clear, and without any set-off, counterclaim, withholding, deduction, or reduction of any kind, whether in respect of taxes, duties, fees, charges, or otherwise, except where such withholding or deduction is required by applicable law.

All banking charges, transfer fees, intermediary charges, payment processing charges, and any other related costs incurred in connection with the payment of funds to the Company, whether in Singapore or abroad, shall be borne solely by the Customer and may be deducted from the Customer account, charged to the Customer separately, or otherwise recovered by the Company.

Such charges include, without limitation:

1. all fees charged by the Company’s receiving banks in connection with transfers of SGD, USD, EUR, or any other currency;
2. all remittance, wiring, handling, and related fees charged by the remitting bank and the receiving bank;
3. all fees charged by any intermediary or correspondent bank; and
4. all fees charged by any payment processor, payment gateway, or third-party payment service provider.

Customers must include the relevant invoice or order reference when making payment. The Company shall not be responsible for delays caused by incorrect or missing payment references.

Customer must ensure that all funds paid to the Company originate from a bank account or payment facility acceptable to the Company and consistent with the name and capacity in which the Customer account is maintained with the Company.

Accordingly:

1. if the Customer hold a personal account, the Customer must fund their cash balance or settle any order from a personal bank account or payment facility registered in the Customer own name;
2. if the Customer hold a joint account, the Customer must fund their cash balance or settle any order from a joint bank account, or from a personal bank account or payment facility registered in the name of any one or more of the joint account holders; and
3. if the Customer hold a corporate, business, trust, retirement, or other non-personal account, the Customer must fund their cash balance or settle any order from a bank account or payment facility registered in the name of the relevant entity, trust, structure, or account holder, as applicable, and in such manner as the Company may approve.

The Company reserves the right, at its sole discretion and without liability to the Customer, to refuse, reject, return, freeze, or place a hold on any funds received where the Company is not satisfied as to the source, legitimacy, ownership, compliance status, or purpose of such funds, or where the payment does not comply with these Terms, applicable law, or the Company’s internal compliance requirements.

 In such circumstances, the Company may also suspend, cancel, refuse, or unwind any related order, transaction, settlement, or account funding request.

Where the Company has any concern, doubt, or compliance requirement in relation to the source of funds or any payment made or proposed to be made, the Company may request such information, documents, or evidence as it considers necessary, including but not limited to source of funds, source of wealth, account ownership, and supporting payment records. The Customer agrees to provide all such information promptly upon request.

All payments are subject to verification, clearance, and acceptance by the Company. The Company may, at its sole discretion, decline to accept any payment, delay crediting any funds, suspend processing, or place any transaction on hold pending completion of such checks, verifications, or compliance reviews as the Company considers necessary.

No payment shall be treated as received, credited, settled, or available for use unless and until the relevant funds have been irrevocably received by the Company in cleared funds and to the Company’s satisfaction.

The Company may apply, allocate, withhold, or ring-fence any funds received from the Customer toward any order, invoice, storage fees, charges, liabilities, or other sums due to the Company, in such order and manner as the Company considers appropriate, unless otherwise required by applicable law.

Where any payment is reversed, recalled, dishonoured, charged back, disputed, clawed back, or otherwise fails to clear after provisional receipt, the Company may, without liability to the Customer:

1. reverse any corresponding credit to the Customer account;
2. suspend or cancel any related order, storage instruction, withdrawal, settlement, or transaction;
3. recover any shortfall, cost, fee, or loss from the Customer; and
4. exercise any other rights available to it under these Terms.

Where funds are paid by credit card, debit card, or any card-linked payment channel for the purposes of store credit, invoice deposit, or full invoice settlement, and any refund is approved by the Company, the Company shall not be liable to refund any card processing fees, merchant service fees, gateway charges, foreign exchange costs, reversal charges, or any other third-party transaction costs incurred in receiving, processing, clearing, or reversing such payment.

 In such circumstances, the Company shall only be liable to refund the net amount actually received by and retained by the Company after deduction of non-refundable third-party card processing, merchant acquiring, gateway, reversal, and related transaction costs actually incurred.

Any refund approved by the Company shall be made only to the original remitting account, card, or payment method, unless the Company determines otherwise for compliance, operational, or legal reasons. The Company may require additional verification, documentation, and processing time before any refund is made.

Without prejudice to any other rights of the Company, the Company may refuse, freeze, return, or retain funds, and may suspend, decline, or cancel any order or transaction, where required for compliance with applicable law, regulation, internal risk controls, sanctions screening, AML/CFT/CPF checks, or payment verification requirements. Regulated precious-metals dealers in Singapore are required to maintain AML/CFT/CPF controls, including in relation to suspicious transactions and designated cash transactions.
Payments from third-party accounts, including accounts held by family members, friends, related parties, companies, or any person other than the Customer, may be rejected and returned. Where such payment is returned, the Company may, where permitted by applicable law and compliance requirements, deduct a fixed processing and administrative fee of S$50, together with any bank charges, card processing fees, foreign exchange costs, reversal charges, or other third-party costs incurred.
As a registered dealer under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 for AML/CFT purposes, the Company is required to maintain AML/CFT/CPF controls, including in relation to suspicious transactions and designated cash transactions.

The Customer shall be responsible for, and shall indemnify the Company against, all losses, liabilities, costs, bank charges, processor charges, penalties, expenses, and administrative costs incurred by the Company arising out of any failed payment, dishonoured payment, recalled transfer, chargeback, fraud concern, compliance issue, or cancellation by the Customer.

The Company may require the Customer to provide such information, evidence, and supporting documents as it considers necessary in connection with any payment, refund, reversal, or verification process, including documents relating to identity, account ownership, source of funds, source of wealth, and payment authority. The Customer must provide such information promptly upon request.

The Where any payment is refunded, returned, rejected, reversed, or otherwise required to be sent back to the Customer or remitting party for any reason, including but not limited to third-party payments, failed verification, duplicate payments, cancelled orders, customer requests, or payment errors, the Company may, where permitted by applicable law and compliance requirements, deduct a fixed processing and administrative fee of S$50 from the amount to be refunded or returned.

This fee is in addition to any non-refundable bank charges, card processing fees, merchant service fees, gateway charges, foreign exchange costs, reversal charges, or other third-party transaction costs incurred by the Company.

The Company may waive the fixed processing and administrative fee at its sole discretion.

Without prejudice to any other rights or remedies available to the Company under these Terms or at law, the Customer shall be deemed to be in default if:

1. the Customer fail to make any payment, deposit, top-up, or settlement amount due to the Company within the applicable time period;
2. any payment made by the Customer is reversed, dishonoured, recalled, clawed back, disputed, or otherwise fails to clear;
3. the Customer fail to provide any information, documentation, or verification requested by the Company within the required time;
4. the Customer seek to cancel, withdraw from, or repudiate any confirmed order, transaction, or price-fixed trade without the Company’s prior written agreement; or
5. the Company reasonably determines that it cannot proceed with the relevant transaction due to the Customer breach of these Terms, compliance concerns, or any act or omission on the Customer part.

Time shall be of the essence in respect of all payment and settlement obligations owed by the Customer to the Company.

If any sum due from the Customer is not paid in full by the due date, the Company may, at its sole discretion and without liability to the Customer:

1. suspend or cancel the relevant order, transaction, account activity, storage instruction, or withdrawal request;
2. refuse to release, deliver, transfer, or make available any products or assets;
3. apply any cash balance, credit balance, or other monies held by the Company on the Customer behalf toward the outstanding amount; and/or
4. recover from the Customer all losses, costs, charges, expenses, and liabilities incurred by the Company as a result of the late payment.

Where the Customer have confirmed an order, accepted a quotation, paid a deposit, or otherwise committed to a transaction on a price-fixed basis, any attempt to cancel, withdraw, vary, repudiate, or fail to complete that transaction may be treated by the Company as a default.

 In such circumstances, the Company shall be entitled to apply the cancellation charge set out in the General Terms of Use & Trade, together with any other rights and remedies available to the Company under the applicable Terms.

Any deposit paid by the Customer may be retained, applied, or set off by the Company against any cancellation charge, unpaid amount, reasonable cost, charge, liability or expense arising from the Customer’s default, cancellation, or failure to complete the transaction, to the extent not already recovered under the General Terms of Use & Trade or any other applicable Terms. To the extent any balance remains after such application, the Company may refund the excess, subject to compliance checks, deductions, and any other outstanding amounts owed to the Company.

If the Customer fail to settle within the required timeframe, the Company may, at its sole discretion:

1. cancel the transaction;
2. issue a new quotation based on prevailing market prices;
3. require a new deposit or revised settlement terms; or
4. decline to proceed further with the transaction.
   
   

The Company shall have no obligation to release, transfer, deliver, or make available any products, metals, proceeds, or assets to the Customer unless and until all sums due to the Company have been fully paid in cleared funds and all compliance requirements have been satisfied.

The Company may, subject to applicable law, the General Terms of Use & Trade, and any applicable separate vaulting or BSP agreement, set off or apply any monies, credit balances, deposits, refunds or other payment balances held for the Customer against any amount due, owing or incurred by the Customer to the Company under the Terms.

The Customer shall reimburse and indemnify the Company for all reasonable losses, costs, charges and expenses suffered or incurred by the Company arising out of or in connection with the Customer’s default, late payment, failed payment, cancellation, repudiation or breach of the Terms, to the extent such losses, costs, charges and expenses are not already recovered under the General Terms of Use & Trade or any other applicable Terms.

Any indulgence, extension of time, waiver, or accommodation granted by the Company in relation to any payment obligation, default, or cancellation shall be entirely at the Company’s discretion, may be withdrawn at any time, and shall not constitute a waiver of any of the Company’s rights.