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Account Terms of Service

By registering for a User Account (defined below) or using our Services (defined below), you expressly agree to these Account Terms of Service (these “Terms of Service”). We reserve the right, in our sole discretion, to change, modify, add to, remove, or otherwise alter these Terms of Service at any time. Notification of changes or modifications will be given electronically and on this page. You should check these Terms of Service periodically for changes. Using your User Account or our Services subsequent to any change or modification shall serve as your acknowledgement and acceptance of the altered term(s). You expressly agree that notification given in this manner is sufficient for all purposes and you expressly waive your right to challenge the Terms of Use based on subsequent modification or deficient notice of the same. If you do not agree to these Terms of Service, you should not use our Services and, if applicable, you should cancel your User Account.

These Terms of Service apply to any User Account or Services provided by Anthem Vault Inc. or its affiliates (collectively, “we,” “us,” “our,” or “Anthem Vault”) via this website and any other website that we may own or operate currently or in the future (collectively, the “Website”).

Privacy

We take the private nature of your personal information very seriously. You hereby acknowledge and consent to the use of your personal information in accordance with our official Privacy Policy.

Signing Up

A person must create a User Account prior to using our services of buying, selling, and storing selected precious metals (“Metals”, and collectively the “Services”). A User Account is created when a person (a “User”) registers for an account via the Website and the person is approved to use our Services by us (“User Account”). The information you provide to create a User Account must be complete and accurate.

We reserve the right, in or sole and unfettered discretion, to deny, reject or remove any user name that may be viewed as offensive, is protected by trademark, impersonates someone else or for any other reason whatsoever, or for no reason whatsoever.

It is your responsibility to ensure that your user name and password (together “Login Credentials”) remain confidential and secure at all times. You are responsible for any and all transactions made on your User Account and any charges or fees incurred on your account.

Notices regarding your User Account will be sent to you at the e-mail address you provide during registration and will not be sent by regular mail. This will be the sole and exclusive means of notification to you. The personal information provided for your User Account must be updated promptly upon any change in the information. You expressly waive any claims against us for failure to notify you of changes to your account or of any other material developments concerning your account due to an incorrect or outdated e-mail address in our records. In the event we mail a paper document to you at any time, such mailing shall not constitute a waiver of your agreement to receive notices exclusively by electronic mail.

Code of Conduct

While using the Website and/or any of our Services, you agree to abide by the following code of conduct:

• You shall not collect or attempt to collect personal information or data on any other user of the Services.
• You shall not permit any third parties to use the Services via your User Account.
• You shall abide by all applicable rules, laws, and regulations as they apply to your use of the Website and/or Services.
• You shall not interfere with, access, or in any other way tamper with a User Account owned by another person.

Limitations on Use

Access to a User Account and our Services is limited to registered users and is not transferable to any third party. Only one individual may access a User Account at a given time using the Login Credentials for that User Account.

Subject to the terms and conditions stated herein, you are granted a non-exclusive, personal license to use the Website and Services. We reserve all rights and shall at all times remain the sole owner of any and all licenses to and in the Website, our Services, software associated with or used in or by the Website, and all content of the Website. We have the sole and unfettered right to alter the terms or use of your non-exclusive license at any time, and to terminate your license with or without cause. In addition to all other restrictions articulated herein, your non-exclusive limited license does not grant you the right to publish or otherwise post written, video, audio, visual or any other category of content on the Website. Publication of content contributed by users shall be at and remain in our sole and absolute discretion.

Security

It is your responsibility to maintain adequate security on your computer to protect the Login Credentials of your User Account. This includes, but is not limited to, using a quality anti-virus program, maintaining security updates on all software programs, and avoiding sites that present security risks to your computer.

You agree that implementing and installing appropriate security programs and software to protect your account, personal information, and the contents of the Website is solely your responsibility and you shall be solely responsible for covering the costs for any losses that may occur as a result of your failure to do so.

Purchases

A purchase order is “locked-in” after the user agrees to the terms of the order and the order is submitted for processing by clicking on the “submit” button in your User Account. Orders may be paid for by funds on account sent via bank wire, or proceeds from the sale of Metals held with us. Purchase orders will generally be filled within 5 business days after being submitted by clicking the “submit” button. We make no guarantee that orders submitted to us will be filled. If an order cannot be filled, a complete refund will be made to you.

Buy Backs

Metals purchased via your User Account may be sold back to Anthem Vault, by selecting this option in your User Account. A buy-back order is final when you click the “submit” button and confirm your acceptance of the order details from your User Account. Proceeds from the buy-back, less applicable fees, will be deposited to your designated account within 5 business days of placing your order. The funds may be deposited directly to your bank account via bank wire as specified by you through the selections you make in your User Account. Anthem Vault cannot anticipate all contingencies in the open market, or its ability to buy back Metals from Users, and therefore makes no guarantee of the price at which it can buy back Metals or the availability of such buy-back services.

Storage

By creating your User Account, you expressly authorize us to arrange for and to store, insure, and transport your Metals on your behalf as may be required. You assume all risks associated with the fluctuation in the value of your Metal holdings.

The specific quantity of Metals owned by you will be indicated in your User Account and a corresponding quantity of Metals will be physically vaulted by Anthem Vault for you. Anthem Vault stores the Metals owned by its Users in bars as an aggregated total of all Metals owned by its Users. Each User owns a fractional undivided interest in the aggregate Metals stored in our vault in accordance with the purchases made by each of them, excluding any Metals separately owned by us. In other words, the Metals owned by one user is not uniquely identifiable as specific pieces of Metals but is a fractional part of the Metals stored by Anthem Vault.

The Metals in storage for the Users are at all times owned by the Users and not by Anthem Vault.

Anthem Vault holds no claim to the Metals stored in our vault except for (1) the portion, if any, that is directly owned by us and not by Users and (2), with respect to Metals stored for a User, only to the extent of a lien to secure payment of fees for Services that are owed to us. By storing your Metals with Anthem Vault, you hereby grant Anthem Vault a security interest in your Metals to recover any fees, charges, or other amounts that become due to Anthem Vault from you as a result of fees for Services. If you should place any lien, pledge, obligation or encumbrance of any kind on the Metals you own through your User Account, you agree that such lien, pledge, obligation or encumbrance will be subordinate to the lien of our security interest as described in the preceding sentence. You agree to take any and all steps necessary to effect this lien priority.

Anthem Vault causes its third-party nonbank vault operator to maintain insurance against losses from theft or caused by fire, lightning, cyclone, tornado, windstorm, earthquake, flood, or explosion on all Metals stored, in an amount equal to at least 100% of its value.

You may take physical possession of the Metals you own by logging into your User Account and submitting a request, for the same to us. Upon contacting you and verifying your request we will deliver physical possession of the Metals to you either personally at the verified address listed for your User Account, at the bar storage location itself, or to an account in your name at a U.S.-based professional precious Metals storage facility less any and all fees or charges due to Anthem Vault and any fees or charges associated with the delivery of your Metals, including, but not limited to, delivery fees charged by us and/or any third-party delivery companies. All Metals delivered will meet the Anthem Vault Chain of Integrity standard.

We will not purchase or vault any Metals that are or have been removed from Anthem Vault’s Chain of Integrity. All metal stored by Anthem Vault is stored as metal bars from qualified manufacturers that have a recorded chain of integrity.

Fees

You authorize us to assess fees to your User Account based on usage of the following services:

• Storage Fees: A Storage Fee will be charged for the secured holding and insurance of the Metals and an administrative fee charged by us for procuring these services on your behalf.
• Bank Wire Fees: A Bank Wire Fee will be charged for wiring funds from your User Account which fees are described more particularly on the “Fees” page of the Website.
• Other Fees: Anthem Vault reserves the right to charge other fees to your account for specific services which fees and services are described more particularly on the “Fees” page of the Website. The schedule of fees on the “Fees” page of the Website is incorporated here by reference and made a part of these Terms of Service.

Storage Fees will not be changed without first giving you 30 days notice. All other fees are subject to change effective immediately upon any change being posted to the “Fees” page of the Website. Bank Wire Fees are disclosed and require your consent at the time of processing such transactions via your User Account. Confirming the order or funds transfer through your User Account will constitute acceptance of these fees at the time of completing the transaction.

Acknowledgement of Risk

By using our Services or the Website, you are expressly acknowledging and accepting that owning Metals comes with inherent risks. We strongly recommend that you consult with a financial advisor before buying any Metals. You also expressly understand and agree that past performance is not indicative of future performance. We make no guarantees, projections, or recommendations with respect to future market prices. Precious metals are not FDIC insured and may lose value.

Termination

Anthem Vault reserves the right to terminate your User Account at its sole discretion for any reason whatsoever, or no reason at all. If we terminate your User Account, you will have 30 days (or any time period otherwise prescribed by law) to either take delivery of your Metals, as provided herein, or sell your Metals and close your account. The cost of delivery of possession to you would be charged to you or against your User Account. If you fail to do either of the foregoing within 90 days of the notice of termination, we reserve the right to liquidate your User Account and return the proceeds to you, less applicable fees. All checks issued pursuant to this section shall be mailed to the physical address provided by you at the time you set up your User Account, or at the time you provided any updates or changes thereto.

Abandonment

If your account is inactive for a period exceeding 7 years (or any shorter time period otherwise prescribed by law) your User Account will be deemed abandoned. An account is “inactive” if, during the applicable time period, the user does not: 1) log into their User Account; or 2) communicate with us in writing by e-mail or regular mail regarding the User Account. We will make reasonable efforts to contact the User of an inactive account at the e-mail and mail address provided by them, and any other efforts required by law, before treating their account as abandoned. We will handle any accounts deemed abandoned due to inactivity in accordance with applicable laws governing abandoned property and, where no such laws apply, we reserve the right to liquidate or maintain the account, at our sole discretion, and charge a monthly administrative fee of 2% of the total value of the account as of the date the account was deemed abandoned, where permitted by law.

Right of Set Off and Application of Assets

We reserve the right, at our sole discretion and without prior notice, to set off any fees that may be owed by you to us or any damages we may sustain as a result of your breach of these Terms of Service, against any funds held in your User Account. This right of set off shall apply to each account as against all other accounts owned by the same user. In other words and by way of example, fees owed on one account may be set off from the funds of another account owned by the same person.

In addition, as provided under “Storage” above, you have granted to Anthem Vault a security interest in the Metals stored with Anthem Vault, to secure payment of fees, charges and other amounts. Accordingly, Anthem Vault has all rights of a secured creditor to sell the Metals in your account to the extent needed to cover accrued and unpaid fees, charges and other amounts.

Any exercise of our rights pursuant to the foregoing paragraphs shall not in any way preclude us from pursuing any and all other legal, equitable, or other remedies against you.

Limitation of Liability

Anthem Vault causes its third-party nonbank vault operator to maintain insurance against losses from theft or caused by fire, lightning, cyclone, tornado, windstorm, earthquake, flood, or explosion on all Metals stored, in an amount equal to at least 100% of its value. Anthem Vault agrees to assume the liability for the loss, damage or destruction of any Metals stored by its vault operator on any one day up to the aggregate amount, for all Users, of $40,000,000. Anthem Vault’s liability, to this limit, shall commence when the Metals are received into the possession of the facility maintained by Anthem Vault and its third-party nonbank vault operator, located at its facility in Salt Lake City, Utah, and shall continue until the Metals have been delivered to a carrier or to the U.S. Postal Service for delivery to or at the direction of the applicable User.

Notwithstanding the foregoing, in no case shall Anthem Vault be liable for loss, damage or destruction of Metals or for non-performance or delays of service, damage, liability, or expense directly or indirectly caused by or contributed to by or arising from: (i) any chemical, biological, or electromagnetic weapon; (ii) the use or operation, as a means for inflicting harm, of any computer, computer system, computer software, computer software program, malicious code, computer virus or process or any other electronic system; (iii) ionizing radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel; (iv) the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof; (v) any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter, or (vi) the radioactive, toxic, explosive or other hazardous or contaminating properties of any radioactive matter. The exclusion in this sub-clause (vi) does not extend to radioactive isotopes, other than nuclear fuel, when such isotopes are being prepared, carried, stored, or used for commercial, agricultural, medical, scientific or other similar peaceful purposes.

Anthem Vault shall not be liable for loss, damage or destruction of Precious Metals or for non-performance or delays of service, liability, cost or expense directly or indirectly caused by, resulting from or in connection with any act of terrorism or any action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism. An act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear.

Subject to the terms of this Agreement, in the event of loss, damage or destruction of any Metals, as determined and proved pursuant to the reasonable procedures of Anthem Vault and its agents, Anthem Vault will pay User (i) the market value of the Metals lost, damaged or destroyed as determined by the second London fixing for the respective Metal on the Business Day following the date of the loss and/or (ii) the face value of any Coin lost, damaged or destroyed. Upon payment to you of a claim by or on behalf of Anthem Vault, you hereby agree to and do hereby assign to Anthem Vault all of your right, title and interest in the Metals rights of recovery against third parties that are the subject of a claim and to execute any documents necessary to perfect such assignment upon request by Anthem Vault, its agent or insurers.

Anthem Vault shall not be liable under any circumstances whatsoever for special, incidental, consequential, indirect or punitive losses or damages (including lost profits or lost savings), whether or not caused by the fault or neglect of Anthem Vault and whether or not Anthem Vault had knowledge that such losses or damages might be incurred.

Anthem Vault shall not be liable for non-performance or delays of service caused by strikes, lockouts or other labor disturbances, riots, authority of law, acts of God or means beyond the control of Anthem Vault, its third-party nonbank vault operator or the third-party nonbank vaulting facility; provided, however, subject to the conditions, limitations and exclusions set forth in these Terms of Service, Anthem Vault shall be liable for the loss, damage or destruction of any Metals received into its possession or the possession of its third-party nonbank vault operator pursuant to Anthem Vault’s arrangement with its third-party nonbank vault operator, at any time not to exceed the maximum amount stated above in these Terms of Service.

Governing Law and Choice of Forum

These Terms of Service shall be governed by and construed in accordance with the laws of the State of Texas. You agree that any action at law or in equity arising out of or relating to your use of the Website or the Terms of Service shall be filed only in the state or federal courts located in Travis County, Texas and you hereby consent and submit to the personal jurisdiction of such courts for the purposes of litigating any such action.

Resolution of Disputes

Prior to the initiation of any legal action arising from these Terms of Service or your use of the Website, you agree to mediate the dispute as provided below. The mediation shall be held in Travis County, Texas. The mediator shall be selected by you from a list of three qualified mediators provided by us, from which you shall be entitled to select one. At least 5 days prior to the commencement of the mediation, you agree to deposit the sum of $5,000.00 to be held in escrow by the mediator until the mediation is complete. Upon completion of the mediation, regardless of the result, the mediator shall return to you the $5,000.00 deposit, minus one half of the expenses charged by the mediator for the mediation. In the event the mediation does not result in an amicable resolution of your claims, then you are free to file suit in a court as provided herein.

The prevailing party in any such action shall be entitled to receive its, his, or her reasonable attorneys’ fees and costs from the non-prevailing party. The conditions set forth herein shall be mandatory and shall act as a pre-requisite to filing any lawsuit or other legal action. If the conditions precedent are not met prior to your filing a lawsuit, then you consent and stipulate to a dismissal of your action and agree not to re-file until such time as all conditions precedent have been satisfied. Nothing in this paragraph shall serve as an express or implied waiver of the applicable statute of limitations and shall not be used by you as a defense to an untimely assertion of your claims.

Miscellaneous

These Terms of Service constitute the entire agreement between you and us as it pertains to your use of the Website, use of the Services, and use of your User Account and supersede any prior agreements between you and us. These Terms of Service shall be read and interpreted in conjunction with our Privacy Policy and Terms of Use. Where there is any conflict between the terms of these documents, the Terms of Service will supersede all others.

We will not be liable for any failure to perform any obligation under these Terms of Service as the result of an event beyond our control, including, but not limited to, any act of God, terrorism, war, political insurgence, insurrection, riot, civil unrest, act of civil or military authority, uprising, earthquake, flood, or any other natural or man-made eventuality outside our control.

The failure of you or us to insist on strict performance or to exercise any right or remedy hereunder shall not constitute a waiver thereof and shall not cause a diminution of the obligations under these Terms of Service. No waiver shall be effective unless it is expressly stated in writing, signed by the waiving party.

If one or more provisions of these Terms of Service are held to be unenforceable under applicable law, such provision shall be excluded and the balance of the Terms of Service shall be interpreted as if such provision were so excluded and shall be otherwise enforceable in accordance with its terms.

Modification of These Terms and Conditions

Anthem Vault may, in its sole discretion, modify these Terms and Conditions at any time without notice to you. Your continued use of the Service after modification of these Terms and Conditions constitutes your acceptance of those modifications.

UPDATE: Pursuant to the notice sent to all clients on October 5, 2020, please note that Anthem Vault will no longer charge storage fees for any account with holdings below a value of $25 for as long as the value remains below $25. In addition, we now have a policy of contacting clients falling below minimum purchase requirements with a long period of inactivity.