Please read the following terms and conditions before accessing or using the services offered by Augmont Goldtech Private Limited (Formerly Augmont Precious Metals Private Limited) ("Augmont” or "us") on the website located at https://jify.co/ (“Website”) and “JIFY” mobile application available on Apple AppStore and Google Play Store (“App”). Where the context so requires, the term “Platform” refers to the portion of the Website and the App that makes available to you the products and services provided by Augmont.
Augmont provides the Platform features to you, the user, subject to your acceptance of the following Terms and Conditions of Access and Use ("Terms”), constituting an agreement between us ("Agreement"). If you continue to use the Platform or communicate with us, you will be deemed to have accepted these Terms.
Please read these Terms carefully. Augmont may revise these Terms from time to time and at any time, without notice to you. If you do not agree to be bound by these Terms, as modified from time to time, you should leave the Platform immediately. The section titles in these Terms are for convenience only and have no legal effect.
Digital gold products and services and offers /features thereto are serviced and governed by Augmont at its sole discretion. Jify is merely acting as a facilitator for sale/purchase of Augmont's products and services through its Website and App. Jify does not endorse or certify Augmont's products and services and shall not be responsible or liable in any manner. The users are requested to conduct their own due diligence before buying / selling Augmont's products and services through the Website and App.
ACCEPTANCE OF DISCLAIMERS AND EXCLUSIONS
You acknowledge that the disclaimers and exclusions of liability set forth in these Terms represent a fair and reasonable allocation of the risks and benefits of the Agreement between you and us, taking all relevant factors into consideration. You agree that these disclaimers and limitations shall be enforceable to the fullest extent permitted by applicable law. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Platform or these Terms must be filed within one (1) year after such claim or cause of action arose or be forever barred.
These Terms shall be read in conjunction with the Business Rules of Augmont and of the Platform. Augmont may revise these Business Rules from time to time and at any time, without notice to you.
The Platform shall facilitate purchase and sale of Gold and Silver with each of its specific users (such users are referred to as “Registered Members”). Bullion can be bought and sold online using the Platform’s buying / selling option. Registered Member can buy / sell any quantity of gold and silver on the Platform. The value of Bullion is in INR terms and excludes GST and other applicable taxes. Both Buy and Sell prices of Bullion will be quoted exclusive of GST. Augmont shall raise e-invoices for the Bullion sold. Augmont shall provide buy / sell rates of Bullion. Registered Members shall have the option to either sell the Bullion to Augmont at the prevailing market prices or allow the custodian to store the bullion in the designated vaults or to request for the delivery of the Gold/Silver bought in the form of coins and bars online with us.
All content included on the Platform such as text, graphics, logos, button icons, images, audio clips, digital downloads, data compilations, and software, is the property of Augmont/Jify or its content suppliers and is protected by international copyright laws. All software used on this site is the property of Augmont/Jify or its software suppliers and is protected by international copyright laws. The content of the Platform cannot be copied, reproduced, republished, uploaded, posted, transmitted or distributed for any non-personal use without the prior written approval of Augmont/Jify.
Graphics, logos, page headers, button icons, scripts, and service names contained in or features on the Platform are trademarks, or trade dress of Augmont/Jify. Augmont/Jify's trademarks may not be used in connection with any other product or service, in any manner that is likely to cause confusion, disparage or discredit regarding Augmont/Jify and its products and services. All trademarks not owned by Augmont/Jify that appear on this site are the property of their respective owners, who may or may not be affiliated with, connected to, or sponsored by Augmont/Jify.
DISCLAIMER OF WARRANTIES
The Platform and all information, content, materials, products (including software) and services included on or otherwise made available to you through the Platform are provided by Augmont/Jify an "as is" and "as available" basis, unless otherwise specified in writing. Augmont/Jify makes no representations or warranties of any kind, express or implied, as to the operation of this Platform or the information, content, materials, products (including software) or services included on or otherwise made available to you through this Platform, unless otherwise specified in writing. You expressly agree that your use of this Platform is at your sole risk. To the full extent permissible by applicable law, Augmont/Jify disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability and fitness for a particular purpose. Augmont/Jify does not warrant that this Platform, information, content, materials, products (including software) or services included on or otherwise made available to you through this Platform, their servers, or electronic communications sent from Augmont/Jify are free of viruses or other harmful components. Augmont/Jify will not be liable for any damages of any kind arising from the use of this site or from any information, content, materials, products (including software) or services included on or otherwise made available to you through this Platform, including, but not limited to direct, indirect, incidental, punitive, and consequential damages, unless otherwise specified expressly in writing.
Any dispute or claim relating in any way to your visit to the Platform or to products or services sold or distributed by Augmont/Jify through the Platform will be resolved first by arbitration. The Indian Arbitration and Conciliation Act of 1996 applies to this agreement. To begin an arbitration proceeding, you must send a letter requesting arbitration and describing your claim in detail to our address available on the Platform. The arbitration will be conducted in Mumbai by an independent arbitrator appointed by Augmont/Jify. The costs of arbitration proceedings will be borne by the party so instructed by the arbitrator, on merits of the case. We each agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated or representative action.
When you visit the Platform or send emails to us, you are communicating with us electronically. You consent to receive communications from us electronically. We may communicate with you by one or more of letters, e-mail, SMS or by posting notices on the Platform. You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy all legal requirements that such communications be in writing.
You shall procure and maintain all communication and other equipment necessary to access the Platform and the costs of any such equipment and communication connections or use, including any applicable taxes, shall be borne solely by you. You are responsible for operating your own equipment used to access the Platform.
FINANCIAL TRANSACTIONS AND TAXES
If you wish to make any financial transactions on the Platform, including paying for products or services, you may be asked for payment information. You agree that all information you provide is accurate, complete and current and that you will pay all charges owed, including any applicable taxes. You agree that you are solely responsible for any personal income reporting and tax payments required of you by applicable government authorities.
GOVERNING LAW AND JURISDICTION
By visiting the Platform, you agree to be bound by the applicable Indian laws and State laws, including those pertaining to taxation. This Agreement has been executed and delivered in India, and its interpretations, validity and performance shall be construed and enforced in accordance with the laws of the Republic of India, without regard to principles of conflict of laws, and shall be subject to the exclusive jurisdiction of courts at Mumbai, India.
You agree to indemnify, defend and hold Augmont/Jify harmless from all claims, damages and expenses (including attorney's fees) made by any third party arising out of your content, your use of the Platform, your connection to the Platform, your violation of this Agreement, these Terms or business policies, and the development, operation, maintenance, use and contents of this Platform.
You acknowledge that you have read these Terms and agree to them in entirety. You understand that we may at any time (directly or indirectly) solicit member referrals on terms that may differ from those contained in this Terms. You have independently evaluated the desirability of associating with the Platform or of participating in its programs or of availing its services and/or products, and are not relying on any representation, guarantee or statements other than as set forth in this Terms.
LICENSE AND SITE ACCESS
Augmont/Jify grants you a limited license to access and make personal use of this Platform and not to download (other than page caching) or modify it, or any portion of it, except with express written consent of Augmont/Jify. This license does not include any resale or commercial use of this Platform or its contents; any collection and use of any product listings, descriptions, or prices; any derivative use of this site or its contents; any downloading or copying of account information for the benefit of another merchant; or any use of data mining, robots, or similar data gathering and extraction tools. This Platform or any portion of this Platform may not be reproduced, duplicated, copied, sold, resold, visited, or otherwise exploited for any commercial purpose without express written consent of Augmont/Jify. You may not frame or utilize framing techniques to enclose any trademark, logo, or other proprietary information (including images, text, page layout, or form) of Augmont/Jify without its express written consent. You may not use any Meta tags or any other "hidden text" utilizing Augmont/Jify's name or trademarks without the express written consent of Augmont/Jify. Any unauthorized use terminates the permission or license granted by Augmont/Jify. You are granted a limited, revocable, and nonexclusive right to create a hyperlink to the Platform so long as the link does not portray Augmont/Jify, or its products or services in a false, misleading, derogatory, or otherwise offensive matter. You may not use any Augmont/Jify logo or other proprietary graphic or trademark as part of the link without express written permission.
LIMITATION OF LIABILITY
You expressly agree that use of the Platform is at your sole risk. While we will take all reasonable precautions to ensure uninterrupted and error-free operations, your access and use of the Platform is at your sole risk. The service is provided on an "as is" and "as available" basis. We/Jify and our licensors, suppliers, vendors, parent, holding, subsidiary and related companies, affiliates, officers, agents and employees expressly disclaim all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement. In no event shall Augmont/Jify be liable for any direct, indirect, incidental, special, punitive, consequential damages, or any damages whatsoever, including, but not limited to, damages for loss of profits, goodwill, use, data, or other intangible losses resulting from:
For your convenience, the Platform may provide links to the sites of affiliated companies and certain other businesses, which may not be in our control. You acknowledge that Augmont/Jify does not endorse these linked sites (even if they pop up in a frame) or any links contained in these linked sites. We are not responsible for examining or evaluating, and we do not warrant the offerings of, any of these businesses or individuals or the content of their website. Augmont/Jify does not assume any responsibility or liability for the actions, product, and content of all these and any other third parties. You should carefully review their privacy statements and other conditions of use.
One or more patents owned by Augmont/Jify may apply to the Platform and to the features and services accessible via the Platform. Portions of the Platform may operate under license of one or more patents.
Except where noted otherwise, the prices displayed for products on the Platform represents the value of the respective product. For certain transactions, you shall bear fees and charges in addition to payment for prices displayed on the Platform. Such additional fees and charges shall be as stated on the Platform. Please pay attention to the details of your transactions, because your total price for a transaction may include taxes, fees and shipping costs, which you are responsible for paying. With respect to services provided or products sold by Augmont, we cannot confirm the cost of a service or the price of a product until you order. Despite our best efforts, a small number of the items in our catalogue may be mispriced. If an item's correct price is higher than our stated price, we will, at our discretion, either contact you for instructions before shipping or cancel your order and notify you of such cancellation.
The Platform is strongly committed to your right to privacy and to keeping your information secure. We collect your personal information on a need-to-know basis. Personal information includes, but is not limited to, first and last name, physical address, e-mail address, phone number, birth date, and any other information that itself identifies or when tied to the above information, may identify you as a specific individual. Additionally, Augmont may require you to provide additional information and documents for meeting its Know-Your-Client guidelines. The Platform does not collect personally identifiable information about you except when you specifically and knowingly provide it. Augmont uses your personally identifiable information also to operate the Platform and offer its services and to inform you of new features, services, and products from Augmont.
Augmont may carefully select other companies to send you information about their products or services which are related to the Platform but are not necessary to its operation (an "Extended Service"). You would be provided the option to decline the Extended Service.
Augmont may disclose your personal information if required to do so by law or in the good-faith belief that such action is necessary: (a) to conform to the edicts of law or comply with legal process served on Augmont; (ii) to protect and defend the rights or property (including intellectual property) of Augmont and/or of the Platform or (iii) to act under exigent circumstances (as Augmont may, in its sole decision decide) to protect the personal safety of users of the Platform, Augmont, or the public.
The Platform may have features which provide for users to disclose their identities and communicate with other users. Your use of such features and disclosure of any personal details (e.g. e-mail address, mobile numbers) by you through these features are at your sole risk, and Augmont accepts no responsibility for the same.
Augmont attempts to be as accurate as possible. However, Augmont does not warrant that product descriptions or other content of this site is accurate, complete, reliable, current, or error-free. If a product offered by Augmont is not as described, your sole remedy is to return it in unused condition for a replacement under the provisions of our Replacement Policy.
RETURNS, REPLACEMENT AND TITLE
Augmont does not take title to returned items until the item arrives at our designated address. For more information about our returns and replacement, please see our Replacement Policy.
SITE POLICIES, MODIFICATION, AND SEVERABILITY
Please review the other policies posted on this Platform. These policies also govern your visit to the Platform. We/Jify reserve the right to make changes to the Platform, policies, and these Terms at any time. If any of these Terms is deemed invalid, void, or for any reason unenforceable, that condition shall be deemed severable and shall be modified so as to give effect to the economic intent of such impugned provision, and shall not affect the validity and enforceability of the remaining Terms.
Augmont/Jify reserves the right to discontinue, in whole or in part, any portion of the Platform services or programs with or without notice. This discontinuation may relate to all users, certain groups of users, or to certain individual users.
This Agreement and the license rights granted hereunder shall remain in full force and effect unless terminated or cancelled for any of the following reasons: (a) immediately by Augmont/Jify for any unauthorized access or use by you; (b) immediately by Augmont/Jify if you assign or transfer (or attempt to do so) any rights granted to you under this Agreement; (c) immediately, if you violate any of the other terms and conditions of Terms. Termination or cancellation of this Agreement shall not affect any right or relief to which Augmont/Jify may be entitled at law or in equity. Upon termination of this Agreement, all rights granted to you will terminate and return to Augmont/Jify.
VOID WHERE PROHIBITED
Although the Platform is accessible worldwide, not all products or services discussed or referenced on the Platform are available to all persons or in all geographic locations or jurisdictions. The Platform reserves the right to limit the provision of any product or service to any person, geographic area or jurisdiction it so desires, in its sole discretion and to limit the quantities of any such product or service that it provides. Any offer for any product or service made on the Platform is void where prohibited.
If you use this Platform, you are responsible for maintaining the confidentiality of your account and password and for restricting access to your computer, and you agree to accept responsibility for all activities that occur under your account or password. Augmont does not offer services or sell products to parties under the age of 18 years. Augmont reserves the right to refuse service, terminate accounts, remove or edit content, or cancel orders and instructions at its sole discretion.
You may use the Platform only if you are an Indian citizen, residing in India, and are eligible to enter into contracts under Indian law. Non-Indian citizens and non-resident Indians cannot participate on the Platform at present.
YOUR REGISTRATION OBLIGATIONS
In consideration of your use of the Platform, you agree to:
In addition, if required, you fill and sign all forms and documents which form part of your account opening kit, and supply us with all the relevant legal documents and financial information which law requires us to maintain. You warrant and represent that all information that you supply to us is accurate and truthful. You also expressly authorize Augmont to obtain reports concerning your credit standing and business conduct.
You can open an Augmont account with us by entering your mobile number and verifying the same with after verifying your OTP sent to your mobile number.
Notwithstanding the foregoing, we may provide you with access to some parts of the Platform without you registering as a user. In that case, your identification is based on other means of identification that we deem appropriate. You warrant and represent that all information provided for this other means of identification is accurate and truthful. You further agree that such information may be collected and disclosed to us and used in accordance with these Terms.
DISAPPROVAL OF APPLICATION
If you provide any information that is untrue, inaccurate, not current or incomplete, or Augmont has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Augmont has the right to suspend or terminate your account and refuse any and all current or future use of the Platform (or any portion thereof) without any liability to you.
Upon completing the registration process with the Platform, the system will create unique customer id for you. You are responsible for maintaining the confidentiality of account, and are fully responsible for all activities that occur under your account. You agree to (a) immediately notify Augmont/Jify of any unauthorized use of your password or account or any other breach of security, and (b) ensure that you exit from your account at the end of each session.
TERMINATION OF ACCOUNT
You agree that Augmont, in its sole discretion, may terminate your password, Account or your use of the Platform. Augmont may terminate your Account and remove any content within the Platform for any reason, including, without limitation, if Augmont, in its sole opinion, believes that you have violated or acted inconsistently with the letter or spirit of these Terms. Augmont may also, in its sole discretion and at any time, discontinue the Platform, or any part thereof, without notice. You may also request Augmont to terminate your account with us by sending an email to the customer help desk from your registered email id. You agree that any termination of your access to the Platform under any provision of these Terms may be effected without prior notice, and acknowledge and agree that Augmont may immediately deactivate or delete your account and all related information and files in your account and/or bar any further access to such files or to the Platform. Further, you agree that Augmont shall not be liable to you or any third-party for any termination of your access to the Service. However, on such termination, Augmont shall, based on request from the customer, deliver the bullion lying in the vaults in the form of coins and/or bars, sell the fractional parts and return the net amount of money standing to the credit of your Account.
Augmont may publish research and opinions on the Platform, for your information. You may not rely on any such information for forming your investment decisions. You acknowledge that Augmont or the Platform and its officers, directors, employees, agents and affiliates will have no liability with respect to transactions in or for your Account and your investment decisions.
CONTROL & REPORTING SYSTEMS
Augmont may appoint Intermediaries and Distributors who shall assist us in distributing our products to you. Augmont shall communicate all the transaction details to you directly by means of emails, sms and any other medium. and it is your responsibility to ensure that you receive this communication. When you visit the Platform or send e-mails to us, you are communicating with us electronically. You consent to receive communications from us electronically. We may communicate with you by one or more of letters, e-mail, SMS or by posting notices on the Platform. You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy all legal requirements that such communications be in writing. Augmont shall not be responsible to you in the event of default or any wrongful, dishonest, criminal, fraudulent act or wilful misconduct or gross negligence on the part of these Intermediaries. However, you shall immediately inform Augmont on occurrence of such an event through e-mails/telephone/fax or any other convenient means. The activities of the Intermediaries and its personnel/ representative(s) shall not be construed to be activities of Augmont.
In case of inability of Augmont to make deliveries of coins, bars and jewelery bullion due to reasons beyond its control, Augmont may require that the deliveries be effectuated through specific modes, including through local agents / jewelers. In such a case, you agree to bear any additional costs and fees necessary for the delivery to be complete.
TERMS & CONDITIONS FOR DIGIGOLD
Through the Platform, Augmont shall facilitate buy and sell of Gold and Silver (Bullion). All such buy and sell transactions are final and non-reversible. Augmont shall provide buy/sell quotes for the prices of Bullion, which shall be linked, based on a formula, to the prices of gold and silver in the spot market. You may buy any quantity of Bullion through the Platform, subject to policies framed in this regard by Augmont. Augmont shall issue an invoice with Bullion (as the case may be) purchased by you. The Bullion purchased will be delivered to and stored with a custodian in a vault on your behalf and at your request by default. The cost of insurance of Bullion will be borne by Augmont. You shall have the option to (a) sell gold / silver from your Platform account back to Augmont at the prices shown on the Platform at the time of sale, or (b) request for the delivery of the gold/silver in the form of coins and bars online from us, or (c) transfer the gold/silver to another account.
PLACEMENT OF ORDERS
The market prices of bullion shown on the Platform would be an invitation to offer to all eligible Account holders. An order legitimately placed by an eligible Account holder would constitute an offer for purchase or sale of the Gold or Silver, as the case may be. Augmont may accept or reject such an offer, at its discretion. Though orders would usually be attended to within seconds, certain orders, at Augmont's discretion, may be subject to manual review and entry, which may cause delays in the processing of your orders. You also accept that you will receive the price at which your order executes in our systems, which may be different from the price at which Gold or Silver is trading at when you enter your order into our system. You acknowledge that you cannot modify an order once placed and that orders may get executed at a price significantly unfavorable to you, depending upon market fluctuations.
BUYING / SELLING
The common parameters with respect to buying / selling are as follows:
Buying / selling Functions. Following functions can be performed by the Registered member:
TAXES, BROKERAGE AND OTHER CHARGES
No brokerage will be charged to Registered Members for any buy and sell done by them. For each buy and sell conducted by a Registered Member, an e-invoice will be generated in the name of the Registered Member. All taxes, duties, levies etcetera, as applicable, will be borne by the concerned Registered Member. Augmont shall not be responsible for such statutory taxes.
In order to ensure smooth and efficient operations, Augmont may appoint one or more agents (including a Commission agent) on your behalf, from time to time. If required, you agree to ratify such appointment(s) retrospectively. All agents shall have the right to terminate their appointment at any time, without prior notice to you. The Commission agent appointed by Augmont on your behalf shall be appointed for a limited purpose of representing you and acting on your behalf – to take deliveries/constructive deliveries, make and receive payments for trades done by you on the Platform. Your acceptance of these Terms shall form consideration for appointment of the Commission Agent. All payments from and to you shall be appropriated through the Commission agent as and when required. Notwithstanding the above mechanism, all statutory liability (including GST and other applicable taxes) shall always be to your account, and you shall indemnify the Commission Agent for any losses suffered for acting as your agent.
The Platform offers services for users who wish to request for the delivery of the gold and silver bought by the users and lying in the vaults. The Platform displays the articles that are available for delivery along with the making and delivery charges for each article. Some items may appear slightly larger or smaller than actual size due to screen defaults and photography techniques. Sometimes the items may be represented larger than the actual size in order to clearly show details or smaller than the actual size in order to show the entire item. Augmont shall not be liable for any legal action on this account. All the details regarding the product shall be clearly displayed on the Platform. This facility shall be available to all Registered Members of the Platform. Any Registered Member who wishes to request delivery of the gold and silver from the Platform can choose from the selection of Jewellery and Coins and Bars available on the Platform and add the item to the shopping cart.
Product. Infrequently, data may be inaccurately displayed on the Platform due to system errors. Augmont reserves the right to correct any and all errors when they do occur and Augmont shall not honour inaccurate or erroneous prices. The delivery charges on the Platform are also subject to change without notice. For any order the delivery charges on the day the order is confirmed prevails. The delivery charges of the products listed on the Platform are fixed and not negotiable.
Delivery. Delivery shall be made by the Company / courier agent at your doorstep. All items shall be delivered directly to such person and under any circumstances whatsoever, the Registered Member cannot change the recipient details after the order is processed. The Registered Member has the option to change the shipping address, before the product is actually shipped. In the event the Registered Member wishes to change the shipping address, he / she has to log-in to his / her user account on the Platform and click on the "Change Shipping Address" button next to the shipping address and change the address or can request the helpdesk via email. However the Shipping Address cannot be changed once the order is processed.
Recipient accepting delivery should carefully examine the package delivered and shall not accept deliveries where the packaging has been tampered with. The recipient receiving the delivery also has the option to open the package and check its contents prior to accepting the delivery or signing the delivery receipt. They shall not accept deliveries, where they find that the box is empty or the contents are damaged or the contents are not in accordance to the order placed.
The recipient, upon signing the delivery receipt, acknowledges the receipt of the product in terms of the order placed with Augmont. Augmont is not liable to the Customer / recipient for any refund / replacement, under any circumstance, for any subsequent complaints with respect to such deliveries. If the recipient is not available at the time of delivery, the Company / courier agent shall try and deliver the item thrice before returning the same to Augmont. All costs for re-shipment and handling in the case of non-delivery to the Customer shall be chargeable to the Customer.
Return & Replacement Policy. In the event you receive a damaged / defective article or an article that does not comply with the specifications as per your original order, you are required to get in touch with the customer service team within 3 business days from the date of receipt of such delivery.
Upon receiving your complaint, Augmont shall verify the authenticity and the nature of the complaint. If Augmont is convinced that the complaint is genuine, Augmont shall provide a free replacement subject to the Product being sealed and is returned in the same tamper proof blister packaging in which it was delivered to the Customer. However, in the event of frivolous and unjustified complaints regarding the quality and content of the products, Augmont reserves the right to pursue necessary legal actions against you and you will be solely liable for all costs incurred by Augmont in this regard.
The following rules will apply regarding replacement of articles delivered to the Registered Members:
While Augmont shall try to replace a returned piece with a close substitute, Augmont shall have the right to replace the returned piece with any piece which is similar in composition and equal in market value on the date of replacement (although not necessarily similar in shape or in design) with the returned piece.
Before accepting shipment of any product, kindly ensure that the product’s packaging is not damaged or tampered. If you observe that the package is damaged or tampered, request you to refuse to accept delivery and inform Augmont at the earliest. The return process of the product may be restricted by Augmont depending on the nature and category of the product.
Refunds. Any refunds due by Augmont to the user for non-availability of articles shall be credited to the Registered Member’s bank account (as per the details provided to Augmont/Jify).
TRANSFER THROUGH SUCCESSION
Any gold / silver lying in vault is non-transferrable unless specifically allowed by Augmont. However, in case of death or insanity, Augmont shall transfer such gold / silver, and advance balance to your legal heir(s) after the required due diligence and your legal heir(s) shall be regarded as the Registered User thereafter.