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After you have confirmed your Order, you are responsible for any market exposure associated with that Order. If we can cancel your Order in accordance with this User Agreement, including, without limitation, as a result of your non-payment for an Order, you must pay us any market loss associated with that Order and a cancellation fee of $35. The market loss is the difference, if any, between the spot price of the precious metal at the time when an Order is cancelled less than the spot price of the subject precious metal at the time when the Order was confirmed. You must make such payment within 5 business days after the cancellation of the Order and, if you do not make such make such payment, we have all of the rights and the remedies available to us at law or otherwise.
Any market gain associated with a cancelled Order will belong to us and not to you.
Bullion.com: The term “Bullion.com” applies to Bullion.com, LLC.
Market Loss/Market Gain: The term “Market Loss” is when the difference between the metal spot price on a Sales Order when the order is confirmed, and when the order is cancelled is greater than the original confirmed order. This also applies to a Purchase Order, when the cancelled order metal spot price is greater than the original confirmed purchase order price. The term “Market Gain” is when the opposite(s) occur.
Order: The term “Order” applies to a confirmed Sales or Purchase Order with Bullion.com, whether online or by telephone.
Purchase Order: The term “Purchase Order” applies to a confirmed order of a customer selling products to Bullion.com, LLC.
User Agreement: “User Agreement” applies to our Terms and Conditions located here.
Sales Order: The term “Sales Order” applies to a confirmed order of a customer buying a product from Bullion.com, Inc. whether online or by telephone.