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Terms & Conditions


Client Service Agreement:

Master Terms and Conditions


Puregold.Sg pte Ltd, Puregold Singapore Pte Ltd, Puregold.sg UK Limited and Puregold Inc Ltd

(“us”, “we” or "PGPAY")


(“you”, or the "Client")

By accessing or using https://pg-pay.com/ (this “Website”) or our mobile application (collectively “the Platforms”), including browsing our Website, downloading our mobile application, and / or signing up for an account with PGPAY and registering as a member of Puregold Group of Companies, understand and agree to comply with these Master Terms and Conditions. These Master Terms and Conditions shall govern your access to and use of the Platform, and our services offered via the Platform or otherwise by us and any other software provided by us in connection with any of the foregoing (collectively, the “Services”). 


Part 1 – Scope of the Agreement

1.1     These Master Terms and Conditions are intended to govern the purchase or sale of physical gold between PGPAY and the Client from time to time and govern the contracts for the Services offered by PGPAY to the Client.

1.2     This Platform is operated by Puregold.Sg pte Ltd, Puregold Singapore Pte Ltd, Puregold.sg UK Limited and Puregold Inc Ltd, and is made available to you to in order to provide information about our products and services and enable you to purchase these products and services from us via the Platform.


Part 2 – Representations and Warranties

2.1     To access certain features of the Platform, you must provide us with certain mandatory and voluntary information as required for a successful registration or completion of due diligence checks. By registering an account with us and using the Platform, you confirm that:

(a)         you have the requisite authority to enter into this Agreement and to carry out its obligations with respect to each purchase or sale of physical gold entered into with PGPAY;

(b)         you are 18 years old and above. We may ask for proof of your identity before you can register for an account with us.


Part 3 – Services Offered by PGPAY

3.1     PGPAY offers the following services as part of the physical gold buying and selling process:

(1)    For the purchase or sale of physical gold, the following payment methods are accepted:

(a)    International Wire Transfers for payment of physical gold; and or payment like (Credit Cards (Visa & Master), (AliPay & WechatPay), (China Union Pay) and others form of payment).

(b)    Physical Gold Bullion Sale for immediate delivery;

(c)    Local & International Confirmation of Funds of fund arrival sent as an email receipt; and

(d)    Foreign Currency Drafts for payment of physical gold;

(2)    storage of physical gold with our partner; and

(3)    physical gold used as a form of payment to third party.

3.2     The Client may provide instructions to PGPAY in accordance with the procedures described in Part 4 in order to utilise any of the Services.

3.3     PGPAY may modify or discontinue the available Services from time to time. Where PGPAY modifies or discontinues any of the Services at its sole discretion, it shall not be liable to the Client for any damages resulting from such modification or discontinuation of the Services.


Part 4 – Process of Trades and Settlement (the purchase of physical gold from PG.Pay and sale of gold back to PG.Pay)

4.1     The following procedures will apply to all Services provided pursuant to this Agreement:

a.      When trading on the PGPAY (Buying & Selling) platform, a Transaction Confirmation will set out the applicable Exchange Rate, the necessary deposit and the monies required to be paid by the Client in order to effect the transaction.

b.      The Transaction Confirmation will set out any applicable fees for the Services payable to PGPAY by the Client related to such transaction.

c.      The rate that will be applicable to the purchase of gold bullion on PGPAY system will be 2% above the spot price of gold (London Bullion Market Association LBMA Spot Price) at the time the transaction is confirmed and executed.

d.      The gold purchased from PGPAY shall be derived from investment precious metal (“IPM”). You acknowledge that each IPM may be shared amongst multiple clients. By purchasing gold, consent is hereby given to PGPAY to melt the IPM and store the quantity which was bought in a third party secured facility.

e.      The rate that will be applicable to the sale of gold bullion on the PGPAY Platform will be 0.5% below the spot price of gold (London Bullion Market Association LBMA) at the time the transaction is confirmed and executed.

f.       In order for each transaction to be final, you must authorise and accept each transaction as set out in the Transaction Confirmation.

g.      PGPAY reserves the right to correct any quoting error in the rate to be applicable to each transaction should an obvious error or mistake have occurred. In the event of an error in stipulating the applicable rate for a transaction, the error shall be corrected by PGPAY with reference to the fair market value of the currency at the time that the error occurred, as determined by PGPAY acting fairly and reasonably in the circumstances.

h.      You may make payment to PGPAY via credit cards, cash deposit, bank draft, certified cheque, and wire transfer or by the Client authorising PGPAY to debit its account with the Client’s Bank or other Financial Institution.

i.        Any deposits you provide to PGPAY will either be applied by PGPAY in its sole discretion against any settlement amounts which are payable by you, or against any other amounts you owe PGPAY, or the deposit shall be returned to you.

j.        PGPAY will hold such funds on your behalf pursuant to the terms of your instructions and the Transaction Confirmation until the Settlement Date or other closing date.

k.      PGPAY will use commercially reasonable efforts to process transactions on the day in which they are authorised however, PGPAY cannot guarantee that this will always be possible. Furthermore PGPAY cannot be responsible for the time it takes other financial institutions to process transactions.

Non-Refund Clause

l.        By authorising the Transaction Confirmation, you acknowledge that changes to the transaction will not be applicable. PGPAY will not be obligated to provide or allow for any cancellation, refund, unauthorised transaction, or any other form of reversal under any circumstances or amendment transactions.

m.      The provision of their services are completed once a Buyer makes the purchase, regardless of whether the Buyer opts for physical delivery or for Puregold to store their purchase.

n.        Gold stored on behalf of customers can be retrieved at any time, without any restriction, subject to the 7-day delivery timeframe. Buyer should write in to support@pg-pay.com to opt for physical delivery / self-collection in store. We offer shipping within Singapore and internationally on all orders. You may expect to receive your order within 5 - 8 business days via overseas shipping / self-collection in store. High volume of orders during peak / festive seasons may result in slight delay in shipment.


Part 5 – Risk Disclosure

5.1     The Client acknowledges the following risks associated with trading gold bullion:

a.      Price Fluctuation – The price and value of gold bullion may fluctuate and may fall and losses may occur, rather than gains, as a result of buying and selling gold bullion.

b.      Loss of PGPAY Platform Account Password - PGPAY will not be responsible for the safe keeping of the you PGPAY Platform password. You agree to fully indemnify and hold the PGPAY, its agents and employees and content providers harmless from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including but not limited to attorney’s fees) arising from the loss of your account password.

c.      Suspension or Restriction of Trading - Market conditions and/or the operation of regulations may render it impossible to effect certain transactions or liquidate positions. In such cases, you may face a higher risk of loss.

d.      Commission, Fees, Interest and Other Charges – You should be clear as to all commissions, fees, interest and charges imposed by and the banks which PGPAY transacts with and understand that all these charges may affect the client’s final net profit or loss.

e.      Foreign Exchange Risk - Foreign currencies which are used to buy and sell bullion are subject to fluctuations in exchange rates which may give rise to capital gains or losses.

f.       Political, Economic and Social Developments - The Bullion market is influenced by the political, economic and social developments in foreign jurisdictions, which may be uncertain and may increase the risk of buying and selling bullion.

g.      Force Majeure - PGPAY will not be responsible for any delay or failure to comply with our obligations under these terms of sale if the delay or failure arises from any cause which was beyond our reasonable control. This does not affect any of your statutory rights.


Part 6 – Data/Record Keeping

6.1     The Client acknowledges and agrees that PGPAY will retain a record of all information provided by the Client. PGPAY will record and track the Client’s use of PGPAY’s Services. The Client acknowledges and agrees that PGPAY shall be entitled to use this information for its own internal business purposes.


Part 7 – Confidential Information and Privacy

7.1     PGPAY will take all commercially reasonable precautions in order to ensure that the information provided to PGPAY by the Client will be kept private and confidential. PGPAY will collect, use and disclose the Client’s personal and confidential information in accordance with PGPAY’s own privacy policies.

7.2     PGPAY may disclose the Client’s personal or confidential information to PGPAY’s employees, agents, officers or to its affiliates in the course of providing its Services. PGPAY may also disclose the Client’s personal or confidential information to any third party service provider, governmental body or agency necessary in order to provide the Services or in order to comply with all applicable legislation or other legal requirements.


Part 8 – Consent to Credit Checks

8.1     The Client will agree to provide PGPAY with all necessary banking information which PGPAY reasonably requires in order to provide the Services described herein.

8.2     In addition the Client hereby authorises and consents to PGPAY:

a.      Contacting the Client’s Bank in order to verify the Client’s identity, account information and any other information which PGPAY reasonably requires from the Client’s Bank, and

b.      Obtaining a credit report on the Client from a recognised third party provider to verify relevant information about the Client including its payment history for the purpose of establishing settlement terms for the Client’s transactions.


Part 9 – Anti-Money/Laundering

9.1     In accordance with MAS Notice SFA03AA-N01 (Notice on Prevention of Money Laundering and Countering the Financing of Terrorism), the Client agrees that PGPAY may refuse to accept instructions from the Client for any Services or complete any transaction where PGPAY suspects that:

a.      The transaction may breach any law or regulation of the jurisdictions to which the transaction applies; or

b.      The transaction may directly or indirectly involve the proceeds of unlawful conduct.

9.2     The Client agrees to cooperate with PGPAY and to provide all information which PGPAY reasonably requires in order to ensure that all legislation has been complied with by PGPAY relating to money-laundering and the transmission of funds from the proceeds of crime. Any failure by the Client to cooperate pursuant to this Part 9 and to provide the necessary information will constitute an Event of Default as described in Part 11 of these Master Terms and Conditions.

9.3     The Client acknowledges that, from time to time, law enforcement agencies and other regulatory bodies may inspect or investigate certain transactions carried out on the Client’s behalf. The Client understands that PGPAY may be required to disclose (and the Client consents to such disclosure) certain information regarding the Client or transactions to which the Client is a party pursuant to such inspections or investigations, and notwithstanding Part 7 above.


Part 10 – Governing law and Jurisdiction

10.1     These Master Terms and Conditions, its subject matter, and any other disputes or claims in connection therewith, shall be governed by and construed in accordance with the laws of Singapore. In the event of any such disputes or claims in connection with these Master Terms and Conditions, the Parties irrevocably submit to the non-exclusive jurisdiction of the courts of Singapore


Part 11 – Termination

11.1     PGPAY may terminate this Agreement at any time without notice.

11.2     The Client may terminate this Agreement at any time by providing notice to PGPAY.

11.3     Provided no Event of Default has occurred, all transactions which were entered into prior to the termination of this Agreement shall be carried out to completion and this Agreement shall not terminate until all obligations of the Parties pursuant to such transactions have been fully completed.

11.4     The following shall constitute an “Event of Default” under the terms of this Agreement:

a.      If the Client does not perform on time any of its obligations under this Agreement including, without limitation, those obligations in Part 9 hereof;

b.      If the Client makes a misrepresentation in any of the representations and warranties found in Part 2 of these Master Terms and Conditions, or if the Client makes a statement to PGPAY which is untrue or misleading in any material respect;

c.      If the Client becomes bankrupt or insolvent or commits an act of bankruptcy.

11.5     In the event there is an Event of Default by the Client, then PGPAY may, at its option, either withhold all further Services from the Client and/or terminate this Agreement immediately and the Parties shall be relieved of any further obligations under this Agreement, including obligations pursuant to any transactions which were entered into prior to the occurrence of the Event of Default. PGPAY may terminate this Agreement by providing written notice to the other Party.

11.6     All rights and obligations pursuant to Parts 7 and 8 of this Agreement shall survive the termination of this Agreement and shall continue indefinitely.


Part 12 – Indemnity/Limitation of Liability

12.1     To the extent which is permitted by applicable laws, PGPAY shall not be liable to the Client for any losses or damages that it suffers under this Agreement except for those damages and losses which are directly attributable to the gross negligence or intentional misconduct of PGPAY, its officers or employees.

12.2     PGPAY’s liability to the Client shall at all times be limited to the value of the transaction which the claim arises from. PGPAY will not be liable to the Client for any economic losses or damages suffered by the Client. Any liability of PGPAY to pay for lost profits, punitive damages, or special damages is hereby excluded.

12.3     PGPAY will use all commercially reasonable efforts to ensure that payment of monies as directed by the Client shall take place in a timely fashion. However PGPAY will not be liable for any losses or damages suffered by the Client as a result of delays in the monies being received by the designated Payee.

12.4     The Client acknowledges and agrees that the representations and warranties provided by the Client herein will be relied upon by PGPAY for the purpose of determining the eligibility of the Client to utilize the Services. The Client agrees to indemnify and hold harmless PGPAY and its respective officers, directors, employees, security holders and agents from and against any losses, damages or liabilities due to or arising out of a breach of any representation or warranty of the Client herein or in any other document provided by the Client to PGPAY.


Part 13 – Prevalence of Agreement

13.1     This Agreement shall prevail over any agreement and/or any documents (and its clauses) to the extent of any inconsistencies that may arise between this Agreement and any other document.

13.2     The Contracts (Rights of Third Parties) Act 2001 of Singapore shall not under any circumstances apply to this Agreement and any person who is not a party to this Agreement (whether or not such person shall be named, referred to, or otherwise identified, or form part of a class of persons so named, referred to or identified, in this Agreement) shall have no right whatsoever under the Contracts (Rights of Third Parties) Act to enforce this Agreement or any of its terms other than stated in paragraph 10 above.

13.3     This Agreement sets forth the entire agreement and understanding of the Parties with respect to the subject matter contained herein and supersedes all prior discussions and agreement, whether written or oral, relating to the subject matter herein


Part 14 – Amendments to Master Terms and Conditions

14.1     Puregold.Sg pte Ltd, Puregold Singapore Pte Ltd, Puregold.sg UK Limited and Puregold Inc Ltd reserves the right, at our sole and absolute discretion, to modify these Master Terms and Conditions from time to time so that our Services and policies are accurately reflected. While we will use our reasonable endeavours to notify you of any material changes to these Master Terms and Conditions by email, you agree and acknowledge that it shall be your responsibility to review the Master Terms and Conditions regularly. By continuing to use the Platform following the effective date of any modifications to these Master Terms and Conditions, you shall be deemed to have accepted such modification. If you do not agree to any modifications, you must not use the Platform.


Part 15 - Our Legal address follow

Head Office
Puregold.Sg Pte Ltd
No 6 Tagore Drive, #B1-08,Tagore Building, Singapore 787623.

Puregold.sg UK Limited
71-75, Shelton Street, Covent Garden, London, United Kingdom, WC2H 9JQ