Terms of Purchase
This page sets out the legal terms and conditions (the Terms) which apply when we purchase from you any gold, silver, platinum, palladium, brass, copper or other precious metal or base metal goods (including UK coins, bars and medallions) or jewellery products or any other similar goods you wish to sell to us and which we are interested in purchasing (Goods).
If you are looking to purchase any products from us, please refer to our Terms of Sale. If you are looking to purchase digital bullion from us through our metal accounts, please refer to our Metal Account Terms. If you are looking to purchase vaulted storage services in respect of bullion grade precious metal products from us, please refer to our Terms of Storage.
These Terms will apply to the purchase of Goods by us from you and any contract between us and you for the purchase of Goods by us from you (Contract). Please read these Terms carefully and make sure that you understand them before delivering any Goods to us for sale. By delivering any Goods to our Showroom (defined below) for sale, you agree to be bound by these Terms and the other documents expressly referred to in them.
These Terms and any Contract between us are only in the English language. Please note we may not necessarily keep a copy of your Contract and we may amend these Terms from time to time. Each time you deliver Goods to us for sale, please check these Terms to ensure you understand the terms which will apply at that time and ensure that you keep a hard copy of such Terms for your future reference.
1. Information About Us
We are Chard (1964) Limited, a company registered in England and Wales under company number 1378220 and with our registered office at 32-36 Harrowside, Blackpool, FY4 1LY. In these Terms, we refer to ourselves as “Chards”, “we”, “us”. Our VAT number is GB 157 0712 74. We have been trading as a coin and bullion dealer since 1964 and operate the website www.chards.co.uk (the Website). To contact us, please telephone +44 (0)1253 343081, or send us an email to [email protected] or write to us at the address above. You can also contact us via our Website.
2.1 To sell Goods to us, you need to inform us of the Goods you wish to sell to us by delivering the Goods to our showroom (Showroom) in accordance with clause 3. You must complete our Sell to Chards Form (available to download from the Website here or our BIS Form (available to download from the Website here) and include this with your Goods.
2.2 On receipt of Goods from you, we shall weigh and inspect the Goods to check they conform to the Goods specified in the Sell to Chards Form or the BIS Form or as otherwise described by you (Inspection) and to determine the price we are willing to pay for the Goods (the Price).
2.3 If the Goods have been delivered in person and you remain present for the Inspection, the Inspection will be conducted in front of you where possible. If this is not possible or where you are not present for the Inspection (including where the Goods have been sent by post to us) the Inspection will be conducted under a camera and will be filmed.
2.4 In some cases, it may not be possible to conduct the Inspection at the time you arrive at the Showroom due to unavailability of a specialist valuer or otherwise. In particular, jewellery products may need to be left with us for later Inspection. You shall ordinarily be given the option to leave the Goods with us for Inspection at a later date, unless we are unable or unwilling to store the Goods on your behalf.
2.5 If precious metal Goods are not hallmarked, then you must pay a fee (as set by us from time to time) for Inspection if the Goods turn out not to be made of the precious metal described. Such fee shall be deducted from the Price payable by us or (if you decide not to sell the Goods) must be paid to us in cash or via the Website prior to us returning the Goods to you in accordance with clause 7.1.
2.6 If expressly requested by you, we may conduct acid testing as part of the Inspection process. You acknowledge and accept that such acid testing may damage the Goods causing a reduction in the value of the Goods. In no circumstances shall we be liable for any loss or damage to the Goods whatsoever caused by acid testing undertaken at your request.
2.7 We may be required to clean the Goods during the Inspection (particularly jewellery products and coins). You acknowledge and accept that such cleaning may damage the Goods causing a reduction in value to the Goods, in particular by loosening the stone settings in jewellery products. In no circumstances shall we be liable for any loss or damage to the Goods whatsoever caused by us cleaning the Goods for the purpose of Inspection.
2.8 If, following Inspection we determine that the Goods are not genuine, we shall notify you in writing or verbally. The Goods shall be returned to you or may be collected by you in accordance with clauses 7.1 and 7.2.
3.1 In order to sell Goods to us, you must shall deliver the Goods to the Showroom:
(a) by hand;
(b)via a delivery service; or
(c) in tamper proof packaging which has been issued by us to you in accordance with clause 3.3 (Chards Packaging) (where applicable), in which case we shall arrange for the Goods to be collected from you.
If you are using a delivery service, we strongly recommend that Goods are delivered by courier or Royal Mail Special Delivery and that Goods of a value of £2,500 or more are only brought into the Showroom in person or (if the value of the Goods is less than £20,000) delivered in Chards Packaging as per clause 3.3 below.
3.2 You must ensure that the Goods are properly packed and secured in such manner as to enable them to reach the Showroom in good condition.
3.3 If you wish to use Chards Packaging you need to inform us via telephone and provide a description of the Goods and address for collection of the Goods. The Chards Packaging shall only be available for bullion Goods and other Goods at our discretion. We both shall agree a date and time for collection of the Goods, as confirmed in the BIS Form issued to you. We shall send to you the Chards Packaging in accordance with the procedure set out in the BIS Form. Goods which are delivered in Chards Packaging shall be insured by us on your behalf, up to a maximum value of £20,000 per parcel, in accordance with clause 3.8.
3.4 Unless agreed otherwise, you shall be responsible for the cost of delivery of the Goods to the Showroom. Where you use Chards Packaging, you shall be liable to pay us a fee to cover the cost of insurance of the Goods during transit, which fee shall be calculated by reference to the value of the Goods (as determined by us from the description of the Goods provided by you) as specified on the Website (the Packaging Cost). If our courier is unable to collect the Goods from the agreed address at the agreed time and date, you shall be liable to pay us an additional fee (the amount of the fee shall be determined by us and added to the Packaging Cost). If we issue a confirmation that we are prepared to purchase the Inspected Goods from you (Purchase Confirmation) and you accept such Purchase Confirmation in accordance with clause 4.5, the Packaging Cost shall be deducted from the Price. In all other cases, you must pay the Packaging Cost to us in full prior to return of the Goods to you in accordance with clause 7.1.
3.5 If the Goods are being delivered via a delivery service, you shall ensure that each delivery of the Goods is accompanied by:
(a) a Sell to Chards Form or a covering letter specifying your details, the type and quantity of Goods you are seeking to sell, and your payment details;
(b) a delivery note which specifies: (i) any special storage or handling instructions; (ii) if the Goods are being delivered by instalments and if so, the outstanding balance of Goods remaining to be delivered; and (iii) whether you require us to return any packaging material to you. The return of any such packaging material will be at your cost.
3.6 Where the Goods are jewellery products, you may be asked on delivery to provide proof of ownership in the form of a receipt or an insurance valuation for the Goods.
3.7 Where you use a delivery service, delivery of the Goods shall occur when a Chards' staff member signs to accept delivery of the Goods at the Showroom. If you choose to use standard postal delivery or another non-signed for service, it shall be your responsibility to prove the Goods have been received by us. If you deliver the Goods in person, delivery of the Goods shall occur upon your handing over the Goods to us at the Showroom and us issuing you with a receipt for delivery (Delivery Receipt). No Delivery Receipt will be issued if you are not required to leave the Goods with us for Inspection. Where you use Chards Packaging, delivery of the Goods shall occur on collection of the Goods by our courier from the agreed address.
3.8 Where you use Chards Packaging, we will purchase insurance to cover loss of Goods during transit to the value of the Goods (which value shall be based on the metal value of the Goods as determined by us from your description of the Goods) up to a maximum value of £20,000 per parcel. Our liability in respect of any loss of Goods during transit will be limited to any amounts received from the insurer under such insurance, and we shall pass on any sums received to you. This insurance does not cover any damage to the Goods caused during transit.
3.9 We accept no liability whatsoever:
(a) for any damage to the Goods which occurs during transit to the Showroom (regardless of the delivery method chosen by you pursuant to clause 3.1); or
(b) for any Goods which are lost or stolen during transit to the Showroom where: (i) you use a delivery service, or (ii) you send Goods to us using Chards Packaging which have a value of more than £20,000 per parcel.
4.1 Following an Inspection, we shall inform you whether we wish to purchase any Goods which have been inspected by us pursuant to clause 2.2 (Inspected Goods) and if so, the Price we are willing to pay for the Goods. Nothing in these Terms shall impose an obligation on us to issue a Purchase Confirmation and/or to purchase any Goods from you, nor an obligation on you to accept any Purchase Confirmation.
4.2 If we wish to issue a Purchase Confirmation, we shall inform you in writing, or (if orally) shall confirm in writing within two business days (being days other than a Saturday, Sunday or public holiday when banks in London are open for business (Business Day)). in the form of a purchase order form specifying the type and quantity of the Inspected Goods we wish to purchase, together with the Price and the relevant purchase order number. We both shall use the relevant purchase order number in all subsequent correspondence relating to the Purchase Confirmation.
4.3 Each Purchase Confirmation constitutes an offer by us to purchase Goods in accordance with these Terms and shall remain valid and capable of acceptance for 48 hours only (the Acceptance Period).
4.4 If you do not accept a Purchase Confirmation within the Acceptance Period, we may at our discretion issue a revised Purchase Confirmation for the Goods and amend the Price and/or charge an admin fee for issuing a new Purchase Confirmation, and such Purchase Confirmation shall remain valid and capable of acceptance for the Acceptance Period. If we do not issue a revised Purchase Confirmation, the Goods shall be returned to you or may be collected by you in accordance with clauses 7.1 and 7.2.
4.5 Each Purchase Confirmation shall be deemed to be accepted on the earlier of: (a) you issuing a written or verbal acceptance of the Purchase Confirmation; and (b) you doing any act consistent with accepting the Purchase Confirmation. At the point of acceptance, a Contract shall be formed between you and us.
4.6 We may at any time prior to acceptance of a Purchase Confirmation by you amend or cancel the Purchase Confirmation by informing you, without liability to you.
4.7 Once a Purchase Confirmation has been accepted by you (including orally over the telephone or in person), it cannot be cancelled or amended without the prior consent of you and us. The Goods may be resold by us as soon as you have accepted a Purchase Confirmation.
4.8 We shall inform you in writing or verbally if we decide not to issue a Purchase Confirmation and you shall inform us in writing or verbally if you decide not to accept a Purchase Confirmation or otherwise withdraw the offer to sell the Goods. In each case, the Goods shall be returned to or collected by you in accordance with clause 7.1 below.
5.1 The Price payable for the Goods shall be determined by us in our absolute discretion.
5.2 The price of bullion Goods (coins, bars and medallions made of precious metals) shall be based on the weight of the Goods and calculated using the applicable UK rate. The rate shall be set according to the live UK rate for the relevant metal at the time when we open the parcel containing the Goods on the day of receipt. Our determination of the weight of the Goods (using our equipment), the time of opening the parcel and the applicable UK rate shall be conclusive. The price of other precious metal Goods and base metal Goods shall be determined by market value (as assessed by us in our sole opinion).
5.3 In respect of jewellery Goods, the price we are willing to pay for the Goods shall be based on the type of gemstone and precious metal within the jewellery. Goods which are not hallmarked shall be subject to a lower rate than that offered for hallmarked Goods.
5.4 You may telephone us in advance of delivery of the Goods to us or, if you are using Chards Packaging, the date when the Goods are collected by our courier, and obtain a fixed rate for bullion Goods based on the live UK rate at the time of such telephone call or date of collection (as applicable). We will honour this rate upon receipt of the Goods, provided the Goods are as described by you and: (i) are received by us within 24 hours of the rate being fixed by telephone or (ii) if you are using Chards Packaging, the Goods are collected by our courier on the agreed date. If the Goods are not received within such period or, if you are using Chards Packaging, our courier is not able to collect the Goods on the agreed date, we may elect, in our sole discretion, to use the fixed rate or the live rate at the time of opening the parcel on the day of receipt. If you re-negotiate the rate following agreement of a fixed rate, we may, in our sole discretion, charge you an admin fee for such rate alteration. Irrespective of a fixed rate, the Price will be determined on the weight of the Inspected Goods.
5.5 The Price (including for bullion based on the applicable UK rate) will be reduced if the Goods are (in our sole opinion) marked, damaged or worn or are not as described.
5.6 We shall inform you of the Price at the time of issuing the Purchase Confirmation.
5.7 Unless agreed otherwise, the Price excludes any amounts in respect of value added tax (VAT), which we shall additionally be liable to pay to you at the prevailing rate, subject to the receipt of a valid VAT invoice from you. No additional charges shall be payable by us unless agreed in writing with you. In particular, we shall not be liable to reimburse you for any sums paid by you in respect of insurance, packaging and/or delivery.
6.1 You may elect to receive payment for the Goods: (i) by bank transfer or CHAPS transfer to the bank account specified by you in writing; (ii) by cheque addressed to you; or (iii) in cash. These payment methods are subject to the following Terms:
(a) We may in our sole discretion decline to make payment by CHAPS without reason;
(b) Payment by CHAPS will incur a £20 fee which shall be deducted from the Price;
(c) If you request payment in cash, you must provide photographic personal identification notwithstanding the price payable for the Goods and attend the Showroom in person to receive the cash on such date and time directed by us; and
(d) Payment in cash may be subject to a fee, in our sole discretion, which shall be a percentage of the Price.
6.2 Regardless of the payment method requested by you, if the Price is over £5,000, we will require you to provide certain identification information. You can do this on our Website, via the telephone or in person in our Showroom during opening hours. This information we may require includes your full name and address, company name (if applicable), proof of address, email address, telephone number and date of birth. Further details are set out on our Website here. We are required to obtain this information to comply with our legal obligations (including those relating to anti-money laundering), to protect against fraud and to reduce credit risk. We may also use this information to contact you concerning your Contract from time to time.
6.4 We shall inform you at the time of issuing the Purchase Confirmation when payment for the Goods shall be made.
6.5 We may in our sole discretion make payment in instalments. We shall inform you at the time of issuing the Purchase Confirmation whether payment is to be made in instalments, specifying the number of instalments to be made and the respective payment dates.
6.6 If we mistakenly pay you more than the Price for the Goods (due to a human error, system malfunction or otherwise), you shall immediately refund to us (using the same payment method) such overpayment upon becoming aware of the same (whether notified by us or otherwise).
6.7 We may, without limiting any other rights or remedies we may have, set off any amounts owed to us by you whatsoever against any amounts payable by us to you pursuant to a Contract.
7.1 If we inform you following Inspection that the Goods are not genuine or not as described, or we otherwise decide not to issue a Purchase Confirmation, or you decide not to sell the Goods to us (either by choosing not to accept a Purchase Confirmation or by failing to decline or accept a Purchase Confirmation within the Acceptance Period), you shall pay us a fee (to be determined by us in our sole discretion) for the cost of returning the Goods to you (Return Cost). The Return Cost must be paid by you in full via the Website before we will return the Goods. The Return Cost includes the cost of insurance, packaging and delivery, and shall be calculated by reference to the value of the Goods as determined by us, as such costs are specified on the Website. We shall arrange for the Goods to be insured up to the value of the Goods (subject to a maximum insurance value of £20,000 per parcel). If you disagree with our valuation of the Goods, you are strongly advised to collect the Goods from the Showroom as soon as possible or arrange your own insurance for the Goods during transit.
7.2 Alternatively, you may collect the Goods from the Showroom within five Business Days. If collecting the Goods, you must bring proof of postage or the Delivery Receipt (as applicable).
7.3 If you fail to pay the Return Cost (and/or other outstanding sums, including the Packaging Cost) or fail to collect the Goods within 28 days, we shall store the Goods for a maximum period of 6 months, at your cost. If the Goods are still in our possession following this 6-month period, we shall be entitled, without liability to you, to dispose of the Goods (including by selling the Goods to a third party).
Title and Risk
8.1 Where you use a delivery service or deliver the Goods in person, risk in the Goods shall remain with you until completion of delivery to us in accordance with clause 3.7 above. If you deliver the Goods by hand and you are not required to leave the Goods with us for Inspection, risk in the Goods shall remain with you whilst at the Showroom. Where you use Chards Packaging, risk in the Goods shall remain with you until we receive the Goods from our courier.
8.2 In respect of any Goods that are not genuine, or which we do not wish to purchase, or which you choose not to sell to us (either by choosing not to accept a Purchase Confirmation or by failing to decline or accept a Purchase Confirmation within the Acceptance Period) risk in those Goods shall transfer back to you upon the earliest of: (i) receipt of the Goods by you; (ii) you collecting the Goods; (iii) five Business Days following us informing you that we do not wish to issue a Purchase Confirmation or you informing us that you do not wish to accept the Purchase Confirmation (as applicable); or (iv) five Business Days after the Acceptance Period has lapsed.
8.3 For so long as the Goods are held at our risk and until title in the Goods has transferred to us, we shall maintain in force, with a reputable insurance company, appropriate insurance up to the value of the Price for such Goods (as determined by us in our sole discretion (or if applicable, our insurer’s determination)). Such insurance shall cover loss of or damage to the Goods as a result of accidental damage, fire or theft whilst stored at the Showroom.
8.4 If the Goods are lost or damaged during delivery from us back to you, we shall submit a claim to the courier service or the insurer and shall pass on any sums received by us to you, but otherwise we accept no liability whatsoever for any such loss or damage.
8.5 Title to the Goods shall transfer to us as soon as you accept a Purchase Confirmation for the Goods (including over the telephone).
8.6 If the Goods have not been purchased by us, but remain in our possession following the 6-month period referred to in clause 7.3, title to the Goods shall immediately transfer to us at the end of such 6-month period.
8.7 We recommend you also obtain your own insurance: (i) to cover the risk of damage during transit to the Showroom (irrespective of the delivery method chosen by you pursuant to clause 3.1); (ii) to cover the risk of loss during transit to the Showroom where you are using a delivery service, or Chards Packaging for Goods which have a value of more than £20,000 per parcel, or in the event that you disagree with our valuation of the Goods based on the description of the Goods provided by you; (iii) to cover the risk of loss or damage to the Goods whilst at the Showroom in the event that you disagree with our valuation of the Goods determined during the Inspection; and (iv) to cover the risk of loss or damage during transit to you where the Goods being returned to you have a value of more than £20,000 per parcel or in the event that you disagree with our valuation of the Goods.
You hereby warrant, represent and undertake that in respect of any Goods delivered to us for sale:
(a) you have full legal and beneficial title to and are entitled to sell the Goods;
(b) the Goods do not and use of them shall not infringe the intellectual property rights, moral rights or other proprietary rights of any third party; and
(c) on delivery, and for a period of 12 months after delivery, the Goods shall: (i) conform with your description of them; (ii) be free from material defects in design, material and workmanship; (iii) be of satisfactory quality (within the meaning of the Sale of Goods Act 1979, as amended); and (iv) comply with all applicable statutory and regulatory requirements.
10. Our Liability to You
10.1 Nothing in these Terms shall limit or exclude Chards’ liability for death or personal injury caused by negligence, fraud or fraudulent misrepresentation and for any other liability if and to the extent that such liability cannot be limited or excluded by law.
10.2 Subject to clause 10.1 above, Chards’ total aggregate liability to you in respect of all losses however arising under or in connection with these Terms, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall in no circumstances exceed the Price of the Goods, or (if no Inspection has taken place) the value determined by Chards based on the description of the Goods provided by you prior to delivery of the Goods.
11. Events Outside Our Control
11.1 We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under these Terms that is caused by an Event Outside Our Control. An Event Outside Our Control is defined below in clause 11.2.
11.2 An Event Outside Our Control means any act or event beyond our reasonable control, including without limitation strikes, lock-outs or other industrial action (but not by our own staff), civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, lockdown, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or pandemic or other natural disaster, compliance with any applicable laws or regulations or any law or action taken by a governmental or public authority, failure of or non-performance by a supplier, interruption or failure of a utility service or transport network or failure of public or private telecommunications networks or impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport.
11.3 If an Event Outside Our Control takes place that affects the performance of our obligations under these Terms, we will contact you as soon as reasonably possible to notify you and our obligations under these Terms will be suspended and the time for performance of our obligations will be extended for the duration of the Event Outside Our Control.
11.4 Due to the uncertainties caused by the ongoing COVID-19 pandemic, our Showroom may be required to close depending on local lockdown restrictions imposed by the UK Government from time to time and it may not be possible to allow you to visit the Showroom (for example to deliver or collect the Goods) when such restrictions are in force. There may also be delays with the postal networks and courier services which are outside of our control.
Please contact us if you wish to address any aspect of our customer service. We are very keen to hear your concerns and to resolve any issues promptly.
13. Communications Between Us
13.1 Any notices we have to send to you shall be sent in writing via your online account on our Website or by email or pre-paid post using the contact details you have provided to us in connection with the Purchase Confirmation. Alternatively, we may contact you by telephone where our notice does not need to be in writing.
14. Other Important Terms
14.1 Any words following the terms "including", "in particular" or any similar expression shall be construed as illustrative and shall not limit the sense of the words preceding those terms. The headings in these Terms are for ease of reference only and shall not affect their interpretation.
14.2 These Terms are drafted in the English language and such version shall prevail over any translations of these Terms.
14.3 To the extent of any conflict between the provisions of these Terms and any document referred to in them, these Terms shall take precedence.
14.4 We may transfer our rights and obligations under a Contract to another organisation, but this will not affect your rights or the obligations owed to you under the Contract. You may only transfer your rights or your obligations under a Contract to another person if we agree in writing.
14.5 Each Contract shall be binding upon you and us, and each party’s respective personal representatives, successors and permitted assigns. No other person shall have any rights to enforce any of its terms, whether under the Contracts (Rights of Third Parties Act) 1999 or otherwise.
14.6 Each clause of these Terms operates separately. If any court or relevant authority decides that any of them are unlawful or unenforceable, the remaining clauses will remain in full force and effect.
14.7 The rights and remedies provided under these Terms are in addition to, and not exclusive of, each other and any rights or remedies available under applicable law.
14.8 If we fail to insist that you perform any of your obligations under a Contract, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you and will not mean that you do not have to comply with those obligations. If we do waive a default by you, we will only do so in writing, and that will not mean that we will automatically waive any later default by you.
14.9 These Terms, any Contract and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with English law. We both agree that the courts of England and Wales shall have exclusive jurisdiction to settle any such dispute or claim (including non-contractual disputes or claims).
15. Purchase Process
We have summarised the process for selling Goods to us on our Website. You can read this summary here. Please note that the summary is not a replacement for reading and understanding these Terms. If you have any questions, please do contact us. In the event of any conflict between a provision of these Terms and the summary on our Website, the provision in these Terms shall take precedence.
These Terms were last updated in December 2020.