Terms and Conditions of Currency Exchange

Please read carefully these terms and conditions of Tavex Exchange Limited, Reg. No 15570589

1. Terms
2. Information about us and how to contact us
3. Our contract with you
4. How we will use your personal information
5. Our currency exchange services
6. Exchange rates and payment
7. Delivery of currency
8. Your rights to end the contract
9. Our rights to end the contract
10. Your rights in respect of defective or incorrect currency – consumer
11. Your rights in respect of defective or incorrect currency – business customers
12. Our responsibility for loss or damage
13. Other important terms
14. Intellectual property rights
15. Changes to these terms

1. THESE TERMS

1.1 What these terms cover. These are the terms and conditions on which we provide currency exchange services to you. They apply to all transactions completed in-person at our office and to orders placed online and fulfilled by postal delivery.

1.2 Why you should read them. Please read these terms carefully before you submit your order to us. These terms tell you who we are, how we will provide the currency exchange service to you, how you and we may change or end the contract, what to do if there is a problem and other important information. If you think there is a mistake in these terms, please contact us using the details at clause 2.2.

1.3 Are you a business customer or a consumer? In some areas you will have different rights under these terms depending on whether you are a business or a consumer. You are a consumer if:

• You are an individual.
• You are using our currency exchange service wholly or mainly for your personal use (not for use in connection with your trade, business, craft or profession).

1.4 Business customers. If you are a business customer, these terms constitute the entire agreement between us in relation to your transaction. You acknowledge that you have not relied on any statement, promise, representation, assurance or warranty made or given by or on behalf of us which is not set out in these terms.

2. INFORMATION ABOUT US AND HOW TO CONTACT US

2.1 Who we are. We are registered with HM Revenue & Customs as a Money Service Business (MSB), registration number XEML00000197427. We are Tavex Exchange Limited, a company registered in England and Wales. Our company registration number is 15570589 and our registered office is at 110 Hatton Garden, London, EC1N 8LY.

2.2 How to contact us. You can contact us by telephoning us at +44 (0)20 4541 4145 or by writing to us at tavex@tavex.uk or by visiting us in person at 110 Hatton Garden, London, EC1N 8LY during our opening hours.

2.3 How we may contact you. If we have to contact you we will do so by telephone or by writing to you at the email address or postal address you provided to us in your order.

2.4 “Writing” includes emails. When we use the words “writing” or “written” in these terms, this includes emails.

3. OUR CONTRACT WITH YOU

3.1 Placing an in-office order. When you visit our office, our staff will confirm the available exchange rate and the total amount payable. The contract comes into existence when we accept your payment and hand over the exchanged currency.

3.2 Placing an online order. All orders placed on our website constitute an offer to buy at the quoted rate. On placing an order you will automatically receive an invoice with payment details and instructions. Payment must be made within one hour of placing the order.

3.3 Acceptance of online orders. Our acceptance of your online order will take place when we dispatch the goods, at which point a contract will come into existence between you and us. Acceptance is subject to availability. We reserve the right to reject any order at our discretion, even after payment has been received.

3.4 If we cannot accept your order. If we are unable to accept your order, we will inform you in writing and will not charge you, or will refund you in full any sums already paid. This may be because currency is unavailable, because we have identified an error in the rate or description, or because we cannot meet a delivery deadline you have specified.

3.5 Cancellation. Due to the fluctuating nature of the currency exchange market, once payment has been made or handed over, it will not be possible for you to amend or cancel your order. Please see clause 8 for further details.

4. HOW WE WILL USE YOUR PERSONAL INFORMATION

4.1 Personal data. By placing an order, you agree to provide us with the personal information necessary to complete your transaction, including evidence of your identity, your residential address, proof of funds, and any other details reasonably required to carry out identification, fraud and anti-money laundering checks. Your data is protected in accordance with the UK General Data Protection Regulation and the Data Protection Act 2018. Your data may be shared with third-party compliance providers for fraud and anti-money laundering purposes. Your personal data will never be shared or sold to third parties for marketing activities.

5. OUR CURRENCY EXCHANGE SERVICES

5.1 Services offered. We provide currency exchange services through two channels:

Offline (In-Office) Service

Customers may visit our office at 110 Hatton Garden, London, EC1N 8LY during opening hours to exchange currency face-to-face. The following payment methods are accepted in person:

• Cash-to-cash: You pay with cash and receive the exchanged currency in cash.
• Card-to-cash: You pay by debit or credit card (VISA or Mastercard) and receive the exchanged currency in cash.
• Transfer-to-cash: You pay by bank transfer and collect the exchanged currency in cash from our office. Transfer payment must be received and confirmed before currency will be released.

Online Service (Postal Delivery)

Customers may place orders online via our website. Currency is then dispatched to the customer’s nominated UK address by post. The following payment methods are accepted for online orders:

• Card-to-cash: You pay by debit or credit card (VISA or Mastercard) and the exchanged currency is delivered to you by post.
• Transfer-to-cash: You pay by bank transfer and the exchanged currency is delivered to you by post once payment has been received and confirmed.

5.2 UK only. Our services are available solely within the United Kingdom. We do not accept orders from or deliver to addresses outside the UK.

5.3 Minimum age requirement. You must be at least 18 years old to use our services. By entering into a transaction with us, you confirm that you are 18 years of age or older.

5.4 The client, payer and recipient must be the same person. The individual placing the order, making payment and receiving the currency must be the same person. We do not process orders on behalf of third parties.

6. EXCHANGE RATES AND PAYMENT

6.1 Exchange rates. The exchange rate applicable to your transaction will be the rate confirmed to you at the time of your order, either by our staff in-office or displayed on our website. Exchange rates are subject to change without notice due to market fluctuations. A rate quoted to you is valid only for the duration specified at the time of quotation.

6.2 Price errors. Despite our best efforts, it is possible that an exchange rate may be quoted in error. We will normally verify rates before accepting your order. If the correct rate at the time of your order is more favourable to you than our quoted rate, we will charge the more favourable rate. If the correct rate is less favourable and the discrepancy is obvious and could reasonably have been recognised by you, we may cancel the contract and refund any sums paid.

6.3 Payment deadlines. For online orders, payment must be made within one hour of placing your order. We will not dispatch currency until payment has been received in full and confirmed.

6.4 Invoice queries. If you believe an invoice is incorrect, please contact us promptly using the details at clause 2.2.

7. DELIVERY OF CURRENCY

In-Office Collection

7.1 Face-to-face collection. When you use our in-office service, currency is handed to you directly at our office upon completion of your transaction and verification of identity where required.

Postal Delivery (Online Orders)

7.2 Dispatch. We will normally dispatch online orders within 24 to 48 hours of receiving and confirming your payment. If we are aware of any delay or unavailability, we will contact you as soon as possible.

7.3 Delivery costs. Delivery costs will be as displayed on our website when you place your order, or as communicated to you prior to completing the order.

7.4 Delays outside our control. If dispatch or delivery is delayed by events outside our control (including but not limited to postal service disruptions, industrial action, severe weather, Government orders or regulations, or carrier delays), we will contact you as soon as possible and take steps to minimise the effect of the delay. If there is a risk of substantial delay, you may contact us to end the contract and receive a full refund for currency not yet delivered.

7.5 Failed delivery. If no one is available at your address to accept delivery, the postal service will leave a notification. If you do not arrange re-delivery or collection, we will contact you for further instructions. We may charge reasonable storage costs for currency held pending re-dispatch. If we are unable to contact you or arrange delivery, we may end the contract in accordance with clause 9.

7.6 Late delivery. If you are a consumer and we miss the agreed delivery deadline, you may treat the contract as ended if:

(a) we have refused to deliver; or

(b) delivery within the agreed deadline was essential and you informed us of this at the time of the order.

7.7 Risk and ownership. Risk in the currency passes to you when it is delivered to the address you provided.

7.8 Insurance in transit. All postal consignments of currency are fully insured by us whilst in transit to you.

7.9 Required information. We may need information from you (such as identity verification) before we can dispatch your order. If you do not provide this within a reasonable time, or provide incomplete or incorrect information, we may suspend or cancel your order, or make a reasonable additional charge to cover extra work required. We will not be responsible for late or non-delivery caused by your failure to provide required information in time.

8. YOUR RIGHTS TO END THE CONTRACT

8.1 Faulty or misdescribed currency. If the currency you receive is not as described, you may have a legal right to a refund. See clause 10 if you are a consumer and clause 11 if you are a business.

8.2 Ending the contract for our fault. If you are ending a contract for any of the reasons below, the contract will end immediately and we will refund you in full for any currency not yet provided. You may also be entitled to compensation. The reasons are:

(a) We have told you about an upcoming change to the service or these terms which you do not agree to;

(b) We have told you about a material error in the exchange rate or description of your order and you do not wish to proceed;

(c) There is a substantial risk of delay caused by events outside our control;

(d) We have suspended the service for technical reasons for more than 7 days.

8.3 Cancellation rights for online consumers. The Consumer Contracts Regulations 2013 would ordinarily give you the right to cancel online purchases within 14 days. However, currency exchange transactions are exempt from this right because they are subject to fluctuations in the financial market. Once payment has been made, you will not be able to amend or cancel your order.

8.4 Refund method and timing. Where you are entitled to a refund, we will refund you by the same method you used for payment, including delivery costs where applicable, within 7 days of the date we agree the refund is due.

9. OUR RIGHTS TO END THE CONTRACT

9.1 We may end the contract if you break it. We may end the contract if:

(a) You do not make payment when it is due;

(b) You do not provide information we reasonably require within a reasonable time (for example, identity verification for anti-money laundering purposes);

(c) You do not collect your currency from our office within an agreed timeframe, or you do not make yourself available to receive a postal delivery.

9.2 Compensation if you break the contract. If we end the contract in the circumstances above, we will refund any money you have paid in advance for currency not yet provided, but we may deduct or charge reasonable compensation for the net costs we have incurred as a result of your breach.

10. YOUR RIGHTS IN RESPECT OF DEFECTIVE OR INCORRECT CURRENCY – CONSUMERS

10.1 Our legal duty. If you are a consumer, we are under a legal duty to supply currency in conformity with your order. Nothing in these terms affects your statutory legal rights.

Summary of your key legal rights: The Consumer Rights Act 2015 says goods must be as described and of satisfactory quality. If you receive the wrong currency or an incorrect amount:

(a) within 30 days – you can request an immediate refund or replacement;

(b) within 6 months – if replacement is not possible, you are entitled to a full refund. For further information visit www.citizensadvice.org.uk or call 03454 04 05 06.

10.2 Returning currency. If you wish to exercise your right to reject currency, you must either return it in person to our office, send it back to us by post (we will cover the cost of postage and insurance), or allow us to arrange collection. Please contact us using the details at clause 2.2.

11. YOUR RIGHTS IN RESPECT OF DEFECTIVE OR INCORRECT CURRENCY – BUSINESS CUSTOMERS

11.1 Warranty. If you are a business customer, we warrant that on delivery the currency shall conform in all material respects with your order.

11.2 Remedy. Subject to clause 11.3, if you give us written notice within a reasonable time of discovering a non-conformity, and give us a reasonable opportunity to examine the matter, we will at our option refund or replace the amount in question.

11.3 Exclusions. We will not be liable for non-conformity if:

(a) you have handled the currency in a way that caused or contributed to the discrepancy;

(b) you have failed to follow our instructions; or

(c) the discrepancy arises from information supplied by you.

12. OUR RESPONSIBILITY FOR LOSS OR DAMAGE

12.1 Nothing in these terms limits our liability for: death or personal injury caused by our negligence; fraud or fraudulent misrepresentation; breach of terms implied by the Sale of Goods Act 1979 or Supply of Goods and Services Act 1982; defective products under the Consumer Protection Act 1987; or any matter where limitation would be unlawful.

12.2 Excluded losses. Subject to clause 12.1, we shall not be liable to you for any loss of profit or any indirect or consequential loss arising in connection with our contract with you.

12.3 Liability cap. Subject to clause 12.1, our total liability to you for all losses arising in connection with any contract between us shall be limited to the total sums paid by you under that contract.

13. OTHER IMPORTANT TERMS

13.1 Third party rights. This contract is between you and us. No other person shall have any rights under it.

13.2 Severability. If any court or authority decides that any part of these terms is unlawful, the remaining terms will continue in full force and effect.

13.3 Minimum age requirement. You must be at least 18 years old to use our services. By entering into a transaction with us, you confirm that you are 18 years of age or older.

13.4 Delay in enforcement. If we do not immediately enforce any right we have under these terms, that does not waive our ability to enforce it at a later date.

13.5 Governing law. Any dispute or claim arising out of or in connection with a contract between us shall be governed by and construed in accordance with the law of England and Wales, and the courts of England and Wales shall have exclusive jurisdiction.

13.6 Compliance and legal obligations. All transactions are subject to applicable laws and regulations, including but not limited to anti-money laundering, counter-terrorist financing, and sanctions requirements. We reserve the right to refuse, delay, or cancel any transaction where necessary to comply with our legal or regulatory obligations. This clause applies to all customers, whether acting as consumers or businesses.

14. INTELLECTUAL PROPERTY RIGHTS

14.1 All logos, texts, images and software that appear on our website belong to Tavex Exchange Limited. This material is protected as intellectual property. Any use of these materials without the authorisation of Tavex Exchange Limited is prohibited. We will take all available steps to protect and enforce our intellectual property rights.

15. CHANGES TO THESE TERMS

15.1 We reserve the right to amend these terms at any time. Updated terms will be published on our website at www.tavexbullion.co.uk and will take effect immediately upon publication. It is your responsibility to review these terms before placing each order. Your continued use of our services after any amendment constitutes your acceptance of the updated terms.

Tavex Exchange Limited | 110 Hatton Garden, London, EC1N 8LY  |  +44 (0)20 4541 4145  |  tavex@tavex.uk

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