Terms & Conditions
GENERAL TERMS AND CONDITIONS
BULLION AND PRECIOUS-METAL PRODUCTS
Effective date: 19 July 2026
1. Definitions
In these Terms and Conditions:
“AML/CTF Laws” means the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), the Anti-Money Laundering and Counter-Terrorism Financing Rules, and any other applicable regulations, instruments, sanctions requirements, directions or legally binding requirements administered or enforced by AUSTRAC or another competent authority.
“Business Day” means a day other than a Saturday, Sunday or public holiday in Western Australia.
“Cash” means physical currency in the form of banknotes or coins, whether Australian or foreign currency.
“Cleared Funds” means funds that have been irrevocably credited to and are available for use in Swan Bullion’s nominated bank account.
“Customer Due Diligence” or “CDD” includes Know Your Customer or KYC identification and verification, beneficial-owner verification, sanctions and politically exposed person screening, source-of-funds or source-of-wealth enquiries, ongoing customer monitoring and enhanced customer due diligence, where applicable.
“Customer”, “you” or “your” means the individual, company, trustee, partnership, self-managed superannuation fund or other entity placing an Order with Swan Bullion.
“Order” means a request submitted by a Customer to purchase Products from Swan Bullion.
“Order Confirmation” means the Order and Contract Confirmation issued by Swan Bullion setting out the Products, quantities, agreed prices and other applicable transaction details.
“Premises” means Swan Bullion’s retail premises identified on its Website or in the applicable Order Confirmation.
“Products” means bullion, precious metals, numismatic or collectable products, coins, bars, rounds and any other related goods offered for sale by Swan Bullion.
“Swan Bullion”, “we”, “us” or “our” means the entity identified as the supplier in the applicable Order Confirmation and trading as Swan Bullion Company.
“Website” means the website operated by Swan Bullion through which Orders may be submitted.
2. Application of These Terms
2.1 These Terms and Conditions apply to every Order placed with Swan Bullion, whether the Order is placed online through the Website or in person at the Premises.
2.2 These Terms and Conditions, together with the applicable Order Confirmation, constitute the agreement between Swan Bullion and the Customer in relation to an Order.
2.3 Any oral representation, understanding, statement or agreement that is not expressly incorporated into these Terms and Conditions or the applicable Order Confirmation is excluded.
2.4 Any additional, inconsistent or contrary term contained in a Customer’s purchase order, order form, correspondence or other document will not apply unless expressly accepted in writing and signed by an authorised representative of Swan Bullion.
2.5 Swan Bullion’s failure to object to any additional or inconsistent term does not constitute acceptance of that term or a waiver of these Terms and Conditions.
2.6 If there is an inconsistency between an Order Confirmation and these Terms and Conditions, the Order Confirmation will prevail only in relation to the specific commercial details of that Order, including the Products, quantities, agreed price, delivery method and expressly agreed payment arrangements. These Terms and Conditions will otherwise continue to apply.
2.7 Swan Bullion may reject an Order before it has been accepted, including where there is a pricing, inventory, verification, payment, compliance, technical or administrative issue.
3. No Financial or Professional Advice
3.1 Swan Bullion does not provide financial, legal, investment, taxation or other professional advice.
3.2 Any information provided through the Website, at the Premises, in marketing materials or in communications with Customers is provided for general informational purposes only.
3.3 Information provided by Swan Bullion must not be relied upon as a substitute for independent professional advice or as the sole basis for an investment, financial, taxation or legal decision.
3.4 Customers are responsible for obtaining their own independent financial, legal, investment and taxation advice before placing an Order or making any decision concerning precious metals or related Products.
3.5 Swan Bullion does not represent or guarantee that a Product is suitable for a Customer’s personal circumstances, investment objectives or financial needs.
4. Order Channels and Transaction Limits
4.1 Orders with a total value of up to and including AUD 50,000 may be placed:
a. online through the Website; or
b. in person at the Premises.
4.2 Orders with a total value exceeding AUD 50,000 must be placed in person at the Premises.
4.3 Swan Bullion does not accept Orders by telephone. A telephone enquiry, price discussion or other telephone communication:
a. does not constitute the placement or acceptance of an Order;
b. does not create a binding contract;
c. does not fix or lock in a metal price; and
d. does not oblige Swan Bullion to supply any Products.
4.4 The Customer is responsible for ensuring that all information provided in connection with an Order is complete, accurate and current.
4.5 A person placing an Order on behalf of a company, trust, partnership, self-managed superannuation fund or other entity represents and warrants that they are authorised to act for and bind that entity.
4.6 Acceptance and performance of an Order are subject to:
a. product availability;
b. successful payment verification;
c. completion of any required Customer Due Diligence;
d. fraud-prevention and sanctions checks;
e. compliance with Swan Bullion’s internal policies; and
f. compliance with applicable law.
5. Pricing
5.1 Prices displayed on the Website may be updated periodically or in real time. Displayed prices are indicative only until the Order is accepted and the applicable price is fixed in accordance with section 6.
5.2 A displayed, advertised or quoted price does not, by itself, constitute a binding offer by Swan Bullion to sell Products at that price.
5.3 The final price applicable to an accepted Order will be recorded in the Order Confirmation.
5.4 The price of a Product generally comprises:
a. the value of the Product’s precious-metal content, calculated using Swan Bullion’s applicable spot price; and
b. any applicable manufacturing, fabrication, product, numismatic, collectable or other premium.
5.5 Swan Bullion may require full or partial payment in Cleared Funds before accepting an Order or fixing the applicable metal price.
5.6 Swan Bullion may reject, cancel or correct an Order affected by an obvious pricing, inventory, data-entry, Website, computer, system or administrative error.
5.7 Where Swan Bullion cancels an Order because of an error for which the Customer is not responsible:
a. any amount paid for the Order will be refunded;
b. the Customer will not be treated as being in default; and
c. the Market Loss Policy in section 14 will not apply.
5.8 Swan Bullion is not responsible for any action taken by a person in reliance on an indicative Website price before the Order has been accepted and the price confirmed, except to the extent that such liability cannot lawfully be excluded.
6. Formation of a Binding Contract
6.1 An Order submitted by a Customer constitutes an offer to purchase the Products. A legally binding contract is formed only when:
a. the Customer has submitted or confirmed the Order;
b. any required identity verification or Customer Due Diligence has been completed to Swan Bullion’s reasonable satisfaction;
c. any deposit or advance payment required under section 7 has been received as Cleared Funds;
d. Swan Bullion has accepted the Order; and
e. Swan Bullion has issued an Order Confirmation.
6.2 For an eligible online Order that is not subject to a deposit or advance-payment requirement, the Customer submits the Order by:
a. reviewing the Order details;
b. accepting these Terms and Conditions; and
c. selecting the final “Submit Order” button.
Subject to clause 6.1, the contract is formed when the Website issues the Order Confirmation.
6.3 Where an online Order exceeds AUD 20,000 but does not exceed AUD 50,000, or is otherwise subject to a deposit or advance-payment requirement, submission of the Order constitutes a request to purchase only. The Order will not be accepted, and the metal price will not be fixed, until:
a. the required verification has been completed;
b. the required deposit or advance payment has been received as Cleared Funds; and
c. Swan Bullion has issued the Order Confirmation.
6.4 For an Order placed in person, the contract is formed when:
a. the Customer confirms the Order;
b. any required verification has been completed;
c. any required deposit or advance payment has been received as Cleared Funds;
d. Swan Bullion accepts the Order; and
e. Swan Bullion provides the Customer with an Order Confirmation.
6.5 An Order Confirmation may be provided by email, through the Customer’s online account, in printed form or by another agreed electronic method.
6.6 Once a binding contract has been formed:
a. the applicable metal price is fixed;
b. Swan Bullion may purchase, reserve or allocate the relevant metal or Products for the Customer;
c. the Customer assumes the risk of any subsequent movement in the market price;
d. subsequent market movements do not alter the amount payable by the Customer; and
e. the Customer is legally obligated to pay for and complete the Order in accordance with these Terms and Conditions.
6.7 Failure by the Customer to open, read or retain the Order Confirmation does not invalidate an otherwise binding contract.
6.8 All bullion sales are final, subject to any right or remedy that cannot lawfully be excluded.
7. Deposits and Advance Payment
7.1 An Order with a total value exceeding AUD 20,000 requires a deposit equal to 10% of the total Order value.
7.2 The deposit must be received as Cleared Funds before Swan Bullion accepts the Order and fixes the applicable metal price.
7.3 An Order with a total value of AUD 100,000 or more requires full payment in Cleared Funds before Swan Bullion accepts the Order and fixes the applicable metal price.
7.4 As Orders exceeding AUD 50,000 cannot be placed online, Orders with a total value of AUD 100,000 or more must be placed in person.
7.5 Swan Bullion may require a deposit or advance payment for an Order of any value where Swan Bullion reasonably considers this appropriate, including because of:
a. the nature, value or availability of the Products;
b. the Products being specially ordered, acquired or manufactured for the Customer;
c. the Customer’s previous transaction or payment history;
d. prevailing or unusually volatile market conditions; or
e. other reasonable commercial, compliance or risk considerations.
7.6 Any deposit paid will be applied towards the total amount payable for the relevant Order.
7.7 If Swan Bullion declines an Order before acceptance for reasons not caused by a Customer default, any deposit received will be returned to the Customer, subject to any legal requirement that prevents or delays the return of funds.
7.8 Payment of a deposit does not limit the Customer’s obligation to pay:
a. the remaining balance of the Order;
b. any amount arising under the Market Loss Policy in section 14; or
c. any other amount properly payable under these Terms and Conditions.
8. Payment Obligations
8.1 Unless full payment is required before acceptance under section 7, the remaining balance of an Order must be received in full within two Business Days after the date of the Order Confirmation.
8.2 A different payment deadline will apply only where alternative payment arrangements have been expressly agreed to in writing by Swan Bullion.
8.3 Payment is not considered received until it has been received by Swan Bullion as Cleared Funds.
8.4 The Customer must allow sufficient time for the applicable payment method and banking system to process and clear the payment before the payment deadline.
8.5 All electronic payments must:
a. be made in the currency specified in the Order Confirmation;
b. originate from a bank account or payment facility held in the name of the verified Customer;
c. include the applicable Order or quote number as the payment reference; and
d. comply with the payment instructions contained in the Order Confirmation.
8.6 Swan Bullion may refuse or return a payment received from a third party or from an account or payment facility that does not match the verified Customer’s name.
8.7 Swan Bullion will not release, dispatch or deliver Products until:
a. the total amount payable has been received as Cleared Funds;
b. all required verification has been completed; and
c. any applicable compliance hold has been removed.
8.8 Swan Bullion is not responsible for delays caused by the Customer’s bank, financial institution or payment provider, or by the Customer’s failure to include the correct payment reference, except to the extent that such liability cannot lawfully be excluded.
8.9 Failure to pay an accepted Order by the applicable deadline constitutes a Customer default and may result in the consequences set out in section 14.
9. Payment Methods
9.1 Direct Bank Deposit or Electronic Transfer
Payment may be made by direct bank deposit or electronic funds transfer to Swan Bullion’s nominated bank account.
Payments made by direct bank deposit or electronic transfer may require up to two Business Days to clear.
The Customer must quote the applicable Order number when making payment so that the funds can be correctly identified and allocated.
9.2 Credit Card
Credit-card payment may be accepted for eligible Orders with a total value of less than AUD 5,000, where that payment method is offered online or in person.
The credit card must:
a. be valid and current;
b. be held in the verified Customer’s name; and
c. satisfy any identity, security or payment-verification requirements imposed by Swan Bullion or its payment provider.
Credit-card payments will generally be processed immediately.
A credit-card surcharge of up to 2% of the transaction value may apply. Any surcharge will be disclosed before payment and will not exceed Swan Bullion’s applicable cost of accepting that payment method or the maximum amount permitted by applicable law and card-scheme rules. [1]
9.3 Cash
Cash may be accepted only for eligible in-person transactions at the Premises and is subject to:
a. identity verification;
b. the additional requirements in section 10;
c. any applicable security or transaction limit; and
d. applicable reporting and record-keeping obligations.
Cash must not be sent to Swan Bullion by post, courier or any other delivery method.
9.4 Other Payment Methods
Any other payment method may be used only where it is expressly offered or approved by Swan Bullion.
9.5 Payment Verification
Swan Bullion may withhold acceptance, price fixing, dispatch, delivery or collection while payment, identity or fraud-prevention verification is being completed.
10. Customer Identification, KYC and AML/CTF Compliance
10.1 Compliance Obligations
Swan Bullion is committed to maintaining secure trading practices and complying with the AML/CTF Laws and other applicable financial-crime, fraud-prevention, sanctions and regulatory requirements.
Swan Bullion may conduct Customer Due Diligence before accepting or completing an Order and at any time during its business relationship with a Customer.
Customer Due Diligence assists Swan Bullion to:
a. confirm the identity of Customers and persons acting on their behalf;
b. protect Customers and their accounts from fraudulent or unauthorised use;
c. identify and manage money-laundering, terrorism-financing, proliferation-financing, fraud and sanctions risks;
d. detect suspicious, unusual or potentially unlawful activity; and
e. satisfy applicable identification, monitoring, reporting and record-keeping obligations.
10.2 Online Verification Requirements
A Customer placing an online Order with a total value of AUD 5,000 or more must successfully complete Swan Bullion’s online identity-verification process. [2]
Required verification must ordinarily be completed before:
a. the Order is accepted;
b. the applicable metal price is fixed;
c. payment is allocated to the Order;
d. Products are dispatched, delivered or made available for collection; or
e. the Customer is given access to related account or trading features.
10.3 In-Store Identification Requirements
A Customer making an in-store purchase with a total value of AUD 5,000 or more must provide valid and current government-issued photographic identification before the purchase can be accepted or completed.
Acceptable identification may include:
a. an Australian driver’s licence;
b. an Australian or foreign passport;
c. an Australian proof-of-age or photographic identification card; or
d. another identification document accepted by Swan Bullion.
Swan Bullion may also require proof of the Customer’s current residential address.
Where a person is purchasing on behalf of a company, trust, partnership, self-managed superannuation fund or other entity, Swan Bullion may require identification or verification of:
a. the person placing the Order;
b. the entity;
c. directors, trustees, partners or authorised representatives;
d. persons exercising control over the entity; and
e. ultimate beneficial owners.
10.4 Verification Below the Stated Thresholds
The AUD 5,000 threshold does not limit Swan Bullion’s right or obligation to request verification or additional Customer Due Diligence for an Order or account of any value.
Swan Bullion may select an account or transaction for verification:
a. randomly through its systems or compliance processes;
b. as part of periodic or ongoing Customer Due Diligence;
c. because of account usage or transaction patterns;
d. because of a payment, delivery, identity or security issue;
e. where information previously provided is incomplete, expired, inconsistent or requires updating;
f. because of a fraud-prevention, sanctions, regulatory or risk-management trigger; or
g. where enhanced Customer Due Diligence is required.
Swan Bullion may require a Customer to repeat or update verification even where the Customer has previously been verified.
Selection for verification does not necessarily indicate that Swan Bullion suspects the Customer of unlawful activity.
10.5 Cash Payments of AUD 10,000 or More
Where an Order is paid wholly or partly using Cash and the amount of Cash involved in a transaction is AUD 10,000 or more, or the foreign-currency equivalent, the Customer must provide additional identification and transaction information before the payment or transaction can be accepted or completed. The transaction may also be subject to reporting to AUSTRAC. [3]
Additional information or documentation may include:
a. further photographic identification;
b. proof of the Customer’s residential address;
c. the Customer’s occupation, employer or principal business activity;
d. the purpose and intended nature of the transaction;
e. evidence of the source of the funds used for the purchase;
f. evidence of the Customer’s source of wealth;
g. details of any person on whose behalf the Customer is acting;
h. details of any third party providing or contributing funds;
i. beneficial-ownership or control information; and
j. any other information reasonably required to satisfy Customer Due Diligence, transaction-reporting or record-keeping obligations.
Swan Bullion may refuse to accept Cash until all required checks have been completed to its reasonable satisfaction.
10.6 Linked or Structured Transactions
A Customer must not divide, split or structure an Order or payment for the purpose of avoiding:
a. an identity-verification requirement;
b. a Customer Due Diligence requirement;
c. a Cash transaction threshold;
d. a reporting obligation; or
e. another requirement under these Terms and Conditions or applicable law.
Swan Bullion may consider separate Orders, payments or transactions together when assessing whether activity appears linked, related or deliberately structured.
Separate transactions that appear designed to avoid verification or reporting thresholds may result in:
a. additional verification;
b. enhanced Customer Due Diligence;
c. rejection or suspension of an Order;
d. restriction of the Customer’s account; or
e. a report to an appropriate authority where required or authorised by law.
10.7 Information That May Be Requested
As part of Customer Due Diligence, Swan Bullion may request and verify information including:
a. full legal name;
b. date and place of birth;
c. residential and postal address;
d. telephone number and email address;
e. government-issued identification details;
f. citizenship, residency or taxation information;
g. occupation, employer or business activities;
h. the purpose and intended nature of an account or transaction;
i. source-of-funds or source-of-wealth information;
j. company, trust, partnership or self-managed superannuation fund documents;
k. beneficial-ownership and control information;
l. information about persons authorised to act for the Customer; and
m. any further information reasonably required by Swan Bullion’s AML/CTF program or applicable law.
Swan Bullion may take reasonable steps to verify information against government, commercial, public or third-party databases and verification services.
10.8 Third-Party Verification Provider
Swan Bullion currently uses Shufti Pro, a third-party identity-verification provider, to assist with online verification. Swan Bullion may appoint a different suitably qualified provider from time to time.
Depending on the verification required, a Customer may be asked to:
a. upload a valid photographic identification document, such as a driver’s licence or passport;
b. complete a facial or biometric verification check;
c. provide proof of residential address;
d. provide entity, trust or beneficial-ownership documents; or
e. provide additional information or repeat the process where a document has expired or verification cannot be completed.
A third-party verification provider may also present the Customer with its own privacy notice, collection notice or verification terms.
10.9 Privacy and Biometric Information
Personal information collected for Customer Due Diligence will be handled in accordance with:
a. Swan Bullion’s Privacy Policy;
b. applicable privacy and data-protection laws;
c. the AML/CTF Laws; and
d. any collection notice presented during the verification process.
Information may be used or disclosed for purposes including:
a. identity and document verification;
b. account administration;
c. processing and completing Orders;
d. fraud detection and prevention;
e. sanctions and politically exposed person screening;
f. transaction monitoring;
g. compliance with reporting and record-keeping obligations;
h. responding to lawful requests from regulators, courts or law-enforcement agencies; and
i. obtaining services from identity-verification, technology, payment, compliance, storage or professional service providers.
Where facial or biometric information is collected for automated verification, Swan Bullion or its verification provider will provide an applicable privacy or collection notice and obtain any consent required by law. Biometric information used for automated verification may be treated as sensitive information under applicable privacy law. [4]
Swan Bullion and its service providers will take reasonable steps to protect verification information against misuse, interference, loss and unauthorised access, modification or disclosure.
Information may be retained for the period required by applicable law, Swan Bullion’s AML/CTF program and legitimate record-keeping requirements.
10.10 Customer Responsibilities
The Customer must:
a. provide complete, accurate, current and truthful information;
b. provide original, certified or otherwise acceptable documents when requested;
c. ensure documents are valid, legible and have not been altered;
d. promptly notify Swan Bullion of any material change to information previously provided;
e. disclose when acting for another person or entity;
f. provide beneficial-ownership and control information when requested; and
g. reasonably cooperate with further Customer Due Diligence enquiries.
The Customer must not provide false, misleading, fraudulent, altered or stolen identification or documentation.
10.11 Verification Not Completed
Where required verification has not been completed to Swan Bullion’s reasonable satisfaction, Swan Bullion may:
a. decline to accept an Order;
b. decline to fix or confirm the applicable metal price;
c. delay or suspend processing of an Order;
d. withhold dispatch, delivery or collection of Products;
e. refuse or return a payment where legally permissible;
f. restrict or suspend access to the Customer’s account;
g. require an alternative payment or delivery method;
h. cancel an Order where legally permitted; or
i. restrict, suspend or close the Customer’s account and decline future Orders.
Except to the extent that liability cannot lawfully be excluded, Swan Bullion is not responsible for a delay caused by the Customer’s failure to provide requested information or complete required verification.
Completion of verification does not guarantee that an Order will be accepted or that an account will remain available.
Where verification is requested after a binding contract has been formed, the Customer remains obligated to complete the Order unless Swan Bullion cancels the Order or applicable law provides otherwise.
A failure to complete required verification after a binding contract has been formed may constitute a Customer default under section 14.
10.12 Regulatory Reports and Disclosures
Swan Bullion may make any report, notification or disclosure required or authorised under the AML/CTF Laws or another applicable law, including reports or disclosures to:
a. AUSTRAC;
b. law-enforcement agencies;
c. regulatory authorities;
d. courts or tribunals;
e. government agencies; or
f. other persons where disclosure is required or authorised by law.
Swan Bullion may be legally prohibited from informing the Customer that a report has been made, information has been requested by an authority, or particular activity is being reviewed.
Swan Bullion may therefore be unable to provide a detailed explanation for a verification request, account restriction, transaction delay or decision not to proceed.
11. Goods and Services Tax
11.1 GST will be charged where required by applicable law.
11.2 The GST treatment of a Product depends on whether the Product satisfies the statutory definition of precious metal and on the nature of the supply. Where applicable law treats a supply as GST-free or input taxed, GST will not be added to the Product price. Products that do not satisfy the applicable precious-metal requirements may be subject to GST. [5]
11.3 Numismatic, collectable or other specialised Products may be subject to GST even where other bullion Products are not.
11.4 For Products delivered within Australia, GST may apply to freight, insurance and other taxable services.
11.5 Where Products are sold for export, GST may not be charged where the requirements for a GST-free export are satisfied.
11.6 If Products intended for export are not exported within the period required by applicable law, GST may become payable.
11.7 The Customer must provide any documents or information reasonably required by Swan Bullion to determine the GST treatment of an Order.
11.8 Unless expressly stated otherwise, displayed prices include GST where GST is applicable.
12. Dispatch, Delivery and Collection
12.1 Swan Bullion will use reasonable efforts to dispatch an Order within three Business Days after:
a. full payment has been received as Cleared Funds;
b. all required verification has been completed; and
c. any compliance or security hold has been removed.
12.2 Any dispatch, delivery or collection timeframe provided by Swan Bullion is an estimate only and does not constitute a guaranteed date.
12.3 Delays may occur because of:
a. periods of high demand;
b. product or metal shortages;
c. market disruption or volatility;
d. payment, identity or compliance verification;
e. transport, security or insurance delays;
f. supplier or carrier delays;
g. technical or administrative issues; or
h. circumstances outside Swan Bullion’s reasonable control.
12.4 To the maximum extent permitted by law, Swan Bullion is not liable for loss arising from a delay caused by circumstances outside its reasonable control.
12.5 The Customer is responsible for providing a complete and accurate delivery address and for notifying Swan Bullion of any error before dispatch.
12.6 Swan Bullion may require identification, an Order Confirmation, proof of payment or written authority before releasing Products for collection.
12.7 A delay in dispatch, delivery or collection does not entitle the Customer to cancel an Order unless:
a. Swan Bullion agrees in writing; or
b. the Customer has a right to cancel that cannot lawfully be excluded.
13. Final Sales, Returns and Refused Deliveries
13.1 Because precious-metal prices may fluctuate, bullion Products cannot be returned, exchanged or cancelled merely because of:
a. a change of mind;
b. a change in the market price;
c. a change in the Customer’s personal or financial circumstances; or
d. the Customer deciding that the Products are no longer required.
13.2 Nothing in these Terms and Conditions excludes, restricts or modifies any consumer guarantee, right or remedy that cannot lawfully be excluded, restricted or modified. Consumer guarantees may continue to apply where a Product is faulty, unsafe, does not match its description or otherwise fails to comply with applicable law. [6]
13.3 A return will not be accepted unless:
a. Swan Bullion has authorised the return; or
b. the Customer is exercising a right that cannot lawfully be excluded.
13.4 Where a shipment is returned or cannot be delivered because the Customer:
a. refuses to accept delivery;
b. is unavailable to accept delivery;
c. provides an incorrect or incomplete delivery address;
d. fails to collect the shipment; or
e. otherwise fails to take delivery,
the shipment will not be treated as an authorised return or cancellation.
13.5 The Customer will be responsible for any reasonable storage, insurance, handling, return-freight, redelivery or other costs arising from a failed or refused delivery.
13.6 Swan Bullion may withhold redelivery until all outstanding amounts and applicable delivery-related costs have been paid as Cleared Funds.
14. Customer Default, Cancellation and Market Loss
14.1 Customer Default
A Customer will be in default where, after a binding contract has been formed, the Customer:
a. fails to pay the required deposit or balance by the applicable deadline;
b. attempts to cancel, withdraw from or repudiate the Order without Swan Bullion’s written agreement;
c. reverses, recalls, disputes or initiates a chargeback in relation to a payment without lawful justification;
d. refuses or fails to take delivery of the Products;
e. provides materially false or misleading information;
f. fails to complete required Customer Due Diligence;
g. breaches the prohibition against structuring transactions; or
h. otherwise fails to complete the transaction in accordance with these Terms and Conditions.
14.2 Swan Bullion’s Rights Following Default
If the Customer defaults, Swan Bullion may, to the extent permitted by law:
a. cancel the Order;
b. terminate the contract;
c. sell, liquidate, reallocate or otherwise deal with metal or Products acquired, reserved or allocated in connection with the Order;
d. apply any deposit or other amount paid towards amounts owing;
e. recover the resulting Market Loss and applicable fees;
f. withhold any other Order or Product pending payment;
g. restrict, suspend or close the Customer’s account; and
h. decline to accept future Orders.
14.3 Market-Price Difference
Because the applicable metal price is fixed when an Order is accepted, the Customer is responsible for a market loss arising from the Customer’s default.
Where the relevant metal price falls between the time the Order price was fixed and the time the Order is cancelled, liquidated or otherwise closed, the Customer must pay the difference between:
a. the metal component value fixed for the Order; and
b. the metal component value at the time the Order is cancelled, liquidated or closed.
The applicable spot prices may be determined by reference to:
a. Swan Bullion’s timestamped pricing records;
b. the price recorded in the Order Confirmation; and
c. the market price recorded at the time of cancellation or liquidation.
14.4 No Credit for Market Increase
Where the relevant metal price increases after the Order price was fixed, the Customer will not be entitled to receive the benefit of that increase or any corresponding credit.
An exception will apply only where:
a. the Order has previously been paid in full and Swan Bullion expressly agrees in writing to provide a credit; or
b. a credit is otherwise required by law.
14.5 Restocking Fee
A restocking fee equal to 25% of the sale price may apply where:
a. a Product was specially ordered, acquired or manufactured for the Customer; or
b. the Order includes a numismatic, collectable or other specialised Product.
14.6 Cancellation and Administration Fee
A cancellation and administration fee equal to the greater of:
a. AUD 99; or
b. 1% of the total Order value
may apply to cover administrative and accounting costs associated with the Customer’s default or cancellation.
14.7 Additional Costs
The Customer must reimburse Swan Bullion for any other loss, expense or cost reasonably incurred as a result of the Customer’s default and recoverable under applicable law, including:
a. banking or payment-processing charges;
b. storage and insurance costs;
c. transport and handling costs;
d. debt-recovery costs; and
e. legal costs.
14.8 Application of Deposits and Payments
Swan Bullion may apply any deposit or other amount paid by the Customer towards:
a. the Market Loss;
b. restocking, cancellation and administration fees;
c. other recoverable costs; and
d. any remaining amount owing under the Order.
The Customer remains liable for any outstanding balance after those amounts have been applied.
Any surplus remaining after all properly recoverable amounts have been deducted will be returned to the Customer, subject to applicable law.
14.9 Invoicing and Recovery
Swan Bullion may issue an invoice for any amount payable under this section.
If the invoice is not paid by its due date, Swan Bullion may:
a. refer the debt to a debt-collection agency;
b. commence legal or other recovery proceedings; and
c. disclose information concerning the unpaid debt to an authorised credit-reporting body or other service provider, but only where permitted by applicable privacy and credit-reporting laws.
14.10 Account Restrictions
Failure to pay for an Order or any amount arising under this section may result in the Customer’s account being limited, restricted, suspended or closed.
Swan Bullion may also require full advance payment or impose additional conditions before accepting a future Order.
14.11 No Double Recovery
Swan Bullion will not recover the same loss or cost more than once.
Its rights under this section are cumulative but do not permit Swan Bullion to recover more than the amounts properly payable under the contract and applicable law.
14.12 Cancellation Not Caused by Customer Default
The Market Loss Policy and default fees will not apply where Swan Bullion cancels an Order solely because:
a. Swan Bullion is unable to supply the Products;
b. Swan Bullion has made a pricing, inventory or administrative error;
c. Swan Bullion elects not to proceed for its own commercial reasons; or
d. another circumstance occurs for which the Customer is not responsible.
This clause does not prevent Swan Bullion from complying with legal restrictions on returning or releasing funds.
15. Limitation of Liability
15.1 Nothing in these Terms and Conditions excludes, restricts or modifies:
a. any consumer guarantee, right or remedy under applicable law; or
b. any liability that cannot lawfully be excluded, restricted or modified.
15.2 Subject to clause 15.1 and to the maximum extent permitted by law, Swan Bullion’s total aggregate liability arising from or in connection with a particular Order is limited to the amount paid by the Customer for that Order.
15.3 To the maximum extent permitted by law, Swan Bullion will not be liable for any indirect, incidental, special, punitive or consequential loss, including:
a. loss of profit or revenue;
b. loss of business or business opportunity;
c. loss of reputation or goodwill;
d. loss arising from an investment decision;
e. increased costs incurred by the Customer; or
f. loss arising from delayed dispatch or delivery.
15.4 To the maximum extent permitted by law, Swan Bullion is not liable for a delay or failure caused by a bank, payment provider, carrier, insurer, supplier, verification provider or other third party outside Swan Bullion’s reasonable control.
15.5 Swan Bullion is not responsible for an investment, financial or commercial decision made in reliance on:
a. indicative pricing information;
b. Website content;
c. market commentary;
d. general information supplied by Swan Bullion; or
e. material that does not constitute an express term of the applicable Order.
16. Changes to These Terms
16.1 Swan Bullion may amend these Terms and Conditions from time to time.
16.2 An amendment will apply prospectively from the date on which the amended Terms and Conditions are published or otherwise notified to Customers.
16.3 The version of the Terms and Conditions accepted by the Customer when an Order is submitted will apply to that Order unless:
a. the parties expressly agree otherwise in writing; or
b. a change is required by applicable law.
16.4 Swan Bullion will not retrospectively vary the agreed price or material commercial terms of an accepted Order except where:
a. correcting an obvious error in accordance with section 5;
b. required by applicable law; or
c. agreed with the Customer.
17. General Provisions
17.1 A failure or delay by Swan Bullion to exercise a right under these Terms and Conditions does not constitute a waiver of that right.
17.2 A waiver is effective only where it is expressly given in writing by an authorised representative of Swan Bullion.
17.3 If any provision of these Terms and Conditions is found to be invalid, unlawful or unenforceable, the provision will be read down to the minimum extent necessary. If it cannot be read down, it will be severed and the remaining provisions will continue in effect.
17.4 The Customer agrees that electronic records, electronic acceptance, Website transaction logs, payment records and electronically issued Order Confirmations may be used as evidence of the Order and the agreement between the parties.
17.5 A notice or communication may be provided to the Customer using the email address, postal address, telephone number or online account associated with the Customer’s account or Order.
17.6 The Customer is responsible for maintaining current contact information and for reviewing notices sent to the nominated email address or online account.
17.7 Headings are included for convenience only and do not affect interpretation.
17.8 A reference to “including” or “includes” means “including without limitation”.
17.9 Words in the singular include the plural and words in the plural include the singular where the context permits.
17.10 Subject to any mandatory law that applies, these Terms and Conditions are governed by the laws of Western Australia.
17.11 The parties submit to the non-exclusive jurisdiction of the courts of Western Australia and any courts entitled to hear appeals from those courts.
18. Bank Details
Unless different payment details are specified in the applicable Order Confirmation, payments must be made in Australian dollars to:
Bank: Commonwealth Bank
BSB: 066 156
Account Number: 1033 8210
Account Name: Swan Bullion Company
The applicable Order number must be quoted as the payment reference.
Payment in another currency will not be accepted into this account unless Swan Bullion has provided prior written approval.
If payment instructions received by the Customer differ from those contained in the Order Confirmation or these Terms and Conditions, the Customer should independently verify the payment instructions directly with Swan Bullion before transferring funds.
