Gold Factory Limited

Service Terms and Conditions

By sending an item of property to Gold Factory Limited, you agree to be bound by the following terms and conditions ("Service Agreement"):

Gold Factory Limited ("we", "us", "our") is the UK's first Pawnbroker specialising in 22ct and 24ct gold jewellery and lending to people via the internet. Our company registration number is 03910743; our registered office is at Gold Factory Limited, 149 The Broadway, SOUTHALL, Middlesex, UB1 1LP.

1. We lend fixed sums of money on a secured basis at a fixed interest rate over a fixed period of time. Any loan is subject to approving your application and you signing a formal credit agreement online at www.gold-factory.co.uk. The credit agreement contains other information that we are obliged to supply to you, including the duration of the loan, the applicable %APR, how to cancel the loan, how to repay the loan early, the total amount you have to repay, and any charges that may be payable under the credit agreement if you are in default.

2. We can also arrange for shipping the item of your own property that you wish to use as security for your loan ("Your Property"). You warrant and represent that you have good and marketable title to Your Property, free of all encumbrances of any kind, and you are not under the age of 18 years.

3. By choosing Gold Factory Limited's shipping service, you are authorising us to act for you in appointing on your behalf a shipping agent to ship Your Property to and from our premises for the purposes of further appraisal by our valuers in accordance with the terms of this Service Agreement.

4. Gold Factory Limited provides basic packaging for your items which comprises a padded envelope and Royal Mail Special Delivery tamper proof bag. It is your responsibility to ensure that your items are securely and appropriately packaged, including the use of additional and/or item specific packaging. Gold Factory Limited cannot be held responsible for damage to items sent in inappropriate packaging.

5. Our nominee to act as your shipping agent for Your Property is Royal Mail. It is your sole responsibility to take out insurance with Royal Mail. You agree that you are doing this at your own risk, and that you will have no claim on us for any amount if any goods are lost, damaged or devalued in any way in the course of the Royal Mail Special Delivery Service.

6. It is your responsibility to obtain and retain a receipt for shipping from the shipping agent. This receipt should include a unique tracking code. This receipt is required for any insurance claim. You must also ensure that you can produce photograph(s) of Your Property as well as at least one document per item which will prove ownership and the current replacement value of Your Property. Please note that it is your responsibility to keep safe all documentation relating to Your Property that would be useful in support of an insurance claim, including, but not limited to any purchase receipts, shipping receipts, certificates, valuations, insurance documents or photos. Please note the following clause [from the Royal Mail's insurance claim processes] : "Royal Mail needs to ensure that unwarranted claims are not made and as such it retains the right to request further information from the claimant and to refuse claims that it suspects are unwarranted".

7. Subject to the terms of Clause 4 above, you agree that we are not liable in any way if Royal Mail or Northern Maritime Underwriters Ltd refuses any insurance claims in relation to Your Property.

8. Should any insurance claim arise out of any loss or damage suffered in shipping Your Property back to you, the replacement value(s) claimed will be according to our valuation of Your Property as described in Clause 9 below, whether you accept any loan offer or not.

9. On receiving Your Property from you, we inspect the item(s), and compare Your Property to the original description supplied by you, in order to confirm that they match. We value Your Property in good faith, according to accepted industry standards and prevailing market rates, and on the assumption that the description provided by you is completely accurate. Should Your Property vary from the original description in a manner which affects the valuation, we may, in our absolute discretion, decline to make an offer or make an offer to you that is higher or lower than the initial indication given to you for any reason, including but not limited to any difference in the actual quality of Your Property compared with our understanding of your original description or changes in the market for such item(s). Any offer that we make to you is subject to us being able to formally identify you, and you signing a formal credit agreement online at www.gold-factory.co.uk.

10. You are responsible for any telecommunications charges, digital television subscription or other network charges for the time you spend accessing www.gold-factory.co.uk or calling us.

11. The laws of the United Kingdom (and English law in particular) are taken as the basis for the establishment of relations with you prior to the conclusion of the distance credit agreement, and govern the shipping terms and the credit agreement. We and you submit to the non-exclusive jurisdiction of the English courts, unless you live in Scotland, Northern Ireland, the Channel Islands or the Isle of Man, in which case you will be entitled to commence legal proceedings in your local courts.

12. This document, the shipping terms and any credit agreement are in the English language. We undertake to communicate with you in English during the duration of the loan application process and any loan you enter into. The information contained in this Pre-contract disclosure is only valid in respect of the proposed loan application and during the term of any ensuing loan.

13. If you want to make a complaint about the lending process, shipping or the loan you can email goldfactory@tiscali.co.uk, with brief details of your complaint and your account number. Our Customer Service staff will acknowledge your complaint by email within 1 business day. They will investigate and send you an initial response, having had access to an officer with the authority to settle the complaint (including, where appropriate, an offer of redress). Where appropriate, the member of staff investigating the complaint will not be any staff member who was directly involved in the subject matter of the complaint. This should take no longer than five business days, but most complaints may well be resolved by close of business on the business day after the complaint is received. If the complaint is not resolved by close of business on the business day after the complaint is received, we will send you a copy of this complaints handling procedure. If you are not satisfied by our response, you must contact the Customer Services Manager, who will respond by email within a further five business days. If you are not satisfied with the response from the Customer Services Manager, you can email goldfactory@tiscali.co.uk, enclosing the responses already given to you. Your email will then be referred to the Managing Director, who will respond by email within a final five business days. If within four weeks after receiving a complaint, we will send you either a final response or a response which explains why we are not in a position to resolve the complaint and indicates when we will make further contact. Complaints about the lending process or the loan that we cannot settle within 8 weeks after the date of complaint may ultimately be referred to the Financial Ombudsman Service. We will give you the details of that service if and when you are entitled to any such referral or otherwise at your request.

14. While we will provide you with information that we have to help you in any dispute or claim that you may have with your shipping agent, we cannot be held liable for any failure in the agent's performance of its obligations to you.

15. To make a general enquiry concerning consumer credit licensing matters, please telephone the Office of Fair Trading on 020 7211 8608 between 9am and 5pm Monday to Friday. To search the public register of consumer credit licences, please either telephone or visit the Office of Fair Trading between 9.30am and 4pm at: Office of Fair Trading, Consumer Credit Licensing Bureau, Craven House, 40 Uxbridge Road, Ealing, London W5 2BS.

16. If any part of this Service Agreement that is not fundamental is found to be illegal or unenforceable, such finding will not affect the validity or enforceability of the remainder of the Service Agreement.

17. You agree that all documents that we are entitled to send you electronically may be delivered to you at the latest email address you gave us, or in writing via any account that we set up for you that is accessible via www.gold-factory.co.uk.