TERMS & CONDITIONS

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  1. Agreement
    1. This agreement sets out the terms and conditions (Terms) of use of your Nauggets customer account with Nauggets Pte Ltd / UEN 202141030Z (Nauggets Pte), a company based in Singapore. In this agreement all references to the words "you" or "your" or "Nauggets Customer" means the person who has registered or activated the account or uses the customer account with Nauggets Pte. Any references to the words "we", "us" or "our", means Nauggets Pte.
    2. By using the website, mobile application and any services provided by us (together called “Services”), you agree to be governed and to be bound by these Terms.
    3. We may change all or part of these Terms at any time without prior notice to you. If we do, the new Terms will be posted on our website or made available through the app. Your subsequent or continued use of the Services will constitute your acceptance of any changes. If you object to any changes to these Terms, you must stop using the Services.
    4. You may only use the Services if, and you represent and warrant that:
      1. you are 18 years or older; and
      2. you are a resident of one of the following countries (together, the Countries):

      Australia, Singapore, India, United States of America, United Kingdom and EU.

    5. You must use the Services in accordance with these Terms and all applicable laws, rules and regulations including, without limitation, copyright laws.
    6. Any information provided on our website and apps is general information only and does not take into account your objectives, financial situation or needs. Before deciding to purchase any gold offered over our Services, we recommend you seek independent advice and ensure you fully understand the risks involved and carefully consider your objectives, financial situation, needs, and investment experience. There are also risks associated with online trading including, but not limited to, hardware and/or software failures, and disruptions to communication systems and internet connectivity.
  2. Using the Services
    1. We grant you a limited, non-exclusive, non-transferable, revocable licence to use the Services to buy, sell and send gold, subject to these Terms. The licence is effective until terminated by you or us. Your rights under these Terms will terminate if you fail to comply with any of these Terms. Upon termination of the licence, you must stop using the Services.
    2. While we use reasonable endeavours to ensure that the Services are available continuously, we do not make any representations or warranties that your access will be uninterrupted, timely, secure or error-free. Your access to the Services may be suspended without notice in the case of system or network failure, maintenance or repair or any reason beyond our reasonable control.
    3. Except as expressly provided otherwise in these Terms, we reserve the right to update, change or discontinue any feature of the Services at any time and without prior notice to you. We also reserve the right to withdraw any aspect of the Services.
    4. You will not use the Services for any unlawful purpose or in a fraudulent, misleading, deceptive, inappropriate or unlawful manner, and we may immediately terminate your access to any of the Services if you do so.
  3. Account establishment and ID verification
    1. In order to use the Services you must register and open an account with Nauggets (Nauggets Account) on the website or app.
    2. When you open a Nauggets Account as a Nauggets Customer, you must either be:
      1. opening the account personally in your own name and on your own personal behalf; or
      2. opening the account as the representative of a third party entity, in accordance with clause 3.3.
    3. If you wish to open a Nauggets Account (Third Party Account) as the representative (Authorised Representative) on behalf of a company, trust or partnership (Third Party Entity), you acknowledge and agree that:
      1. in all cases you must be duly authorised on behalf of the Third Party Entity duly registered and in good standing under applicable law, to open and operate the Nauggets Account in accordance with all relevant terms and conditions, including without limitation these Terms;
      2. at the time of registering the Third Party Account, you must provide us with the corporate details, information and give the undertakings set out in the Third Party Account Form;
      3. in all cases you must from time to time and promptly upon request provide us such information we require in order to comply with all relevant laws and regulations, including without limitation our obligations under anti-money laundering laws (AML);
      4. the bank account you connect to the Nauggets Account must be in the name of the Third Party Entity and can only be changed with our prior written approval;
      5. all gold in your Nauggets Account is owned by the Third Party Entity and not you personally;
      6. you must notify before or as soon as possible after:
        1. there is any change to any of the information you have provided us, such as a change of name or address;
        2. you cease for any reason to be an authorised representative of the Third Party Entity, including without limitation where you cease to be a director, trustee or partner of the Third Party Entity, as relevant;
        3. the Third Party Entity is wound up, deregistered or becomes insolvent;
        4. any of the information you have provided becomes materially untrue.
      7. you warrant that all information you provide us is true at the time it is provided.
    4. In order to approve your registration and open your Nauggets Account, you must provide us with at least your full name, email ID and phone number which will give you a basic account with limited features. To access more features, you will be asked to provide additional information including your date of birth, residential address, identification and address proofs and other information as requested on the website or mobile application.
    5. Based on your initial and ongoing usage of the system, you consent to us or our independent service provider using methods to try to verify your identity, including to enable us to comply with AML. To assist with this, we or our independent service provider may:
      1. require certain documents such as a valid driver’s licence, passport or other document or information that assists us to identify you, such as a recent photograph (ID Documents);
      2. use the ID Documents as part of normal identify verification processes, such as, without limitation, checking the veracity of the ID Documents, facial recognition reconciliation between the recent photograph and the ID Documents, extracting relevant metadata and screening against datasets for sanctions, AML and other regulatory compliance.
    6. You consent to the identification measures described above, and acknowledge that any personal information will be handled in accordance with our privacy policy.
  4. Password and security
    1. When you open a Nauggets Account you must select a username and password (Login Details). Your Login Details will enable you to access your Nauggets Account and to provide us with instructions in relation to your account.
    2. You authorise us to carry out all instructions given to us when your Login Details are used. We will not be liable to you for any loss or claim arising out of our relying on electronic instructions provided to us using your Login Details.
    3. You are responsible for your Login Details and you must keep them secure and confidential. You must notify us immediately if you suspect that another person has obtained and used your Login Details without your authorisation. Until you notify us and we confirm receipt of that notice, we will not be liable to you for any loss or claim arising out of any unauthorised use of your Login Details.
    4. If you lose or forget your Login Details, we will request personal identification information from you to retrieve or reset your Login Details.
    5. You must exercise safe security practices when accessing and conducting transactions on your Nauggets Account. This includes signing out of your Nauggets Account after use and not allowing your browser to store your password. You must also maintain any security measures we recommend, for example virus scanning, downloading anti-spyware software and any similar measures to maintain the security of your Nauggets Account.
  5. Communications
    1. Communications between you and us may be conducted by mail, telephone, online or by any other electronic means that we offer, and instructions that you give to us in any such manner is a valid instruction. You agree that all communications, including by telephone, may be recorded and kept by us as a record of your instructions.
    2. You are responsible for the accuracy of your instructions. If you discover any errors in your instructions, you must notify us promptly. Once you notify us, we will use reasonable endeavours to correct the transaction. You understand that certain instructions, once sent, may be final and irrevocable so that it may not be possible to retrieve funds or gold sent in error. We will not be liable for any funds or gold sent in error as a result of your incorrect instructions.
  6. Buying, selling and sending gold
    1. When you buy, sell, send or otherwise acquire or hold gold through our Services (Gold Transactions), you enter into a legally binding contract with Nauggets Limited CN 12624431 London England, our related company, or any other company as appropriate for users from a particular jurisdiction (Nauggets Vault). You must ensure that you comply with your obligations to Nauggets Vault and we will procure that Nauggets Vault will comply with its obligations to you. To avoid doubt, Nauggets Pte is not a party to the Gold Transactions or acting as agent for either you or Nauggets Vault in relation to your contract with Nauggets Vault.
    2. Fees in respect of the Services and Gold Transactions are described in clause 7.
    3. Buying Gold

    4. In order to buy gold you must have a currency balance in your Nauggets Account. You can then enter your order to buy gold from Nauggets Vault using the Services 24 hours per day, 7 days per week, 365 days per year. When you initiate a buy order, the order is automatically processed and your corresponding currency balance is exchanged for the amount of gold and at the price shown in your order.
    5. You may fund your Nauggets Account to buy gold using the Services by the payment methods as advised in our website or app from time to time. Funds received in your Nauggets Account from you via any of the payment methods listed on our website or apps are treated as confirmed balances that you can use to place firm gold purchase orders subject to the provisions contained in this Agreement.
    6. As further described in clause 6.17, in addition to other payment methods, you may buy gold and associated services by exchanging your Nauggets Rewards.
    7. You agree that the principal purpose for funding your Nauggets Account is to pay for gold purchased from Nauggets Vault. You further agree that the currency value shown in your Nauggets Account not used to pay for your gold purchases from Nauggets Vault may be backed by Nauggets Vault into the equivalent value of hedged gold bullion.
    8. Funds received in your Nauggets Account
      1. can only be used to:
        1. buy gold for you under a buy order you have placed in the Nauggets system;
        2. pay our Fees;
        3. meet any other liability that you owe to us or Nauggets Vault; or
        4. pay your share of bank fees and charges payable to the bank from the Nauggets Account;
      2. your money cannot be used to pay for the liabilities of Nauggets Pte or Nauggets Vault which are unrelated to your Nauggets Account or of any other Nauggets customer;
      3. any interest earned on your money will be kept by Nauggets Pte and can be used for its own purposes; and
      4. Nauggets Vault and Nauggets Pte will not be liable for the insolvency, acts or omissions of the bank with which the Nauggets Account is held.
    9. You understand that you will only obtain legal title to the gold that you buy once the gold purchased from Nauggets Vault has been settled from the funds in your Nauggets Account. It is only at that point in time that the Gold Transaction is completed.
    10. You understand that you will carry the risk of any change in the price of gold from the time you initiate your buy order until the time you may decide to sell and your sell order is processed.
    11. You understand that you may not be able to buy gold from Nauggets Vault without validly verifying your identity in accordance with clause 3.5.
    12. Selling gold

    13. You can choose to sell gold back to Nauggets Vault via the website or app, or by making a purchase using a Nauggets Mastercard as set out in clause 10 of these Terms. Sell transactions are completed at the time of your instructions using the Nauggets app or website.
    14. You may only receive the proceeds of a Gold Transaction to sell gold that is processed by Nauggets Vault to a bank account held in your name in your country of residence. Your proceeds will be net of any Fees and other charges.
    15. You understand that you will not be able to sell gold with a value: (a) of less than SGD14.00 (Fourteen Singapore dollars) at any time, or (b) without validly verifying your identity in accordance with clause 3.5 as may be required.
    16. Sending gold

    17. You can send gold to other registered Nauggets customers. Send transactions are completed at the time of your instruction using the Nauggets app or website. The amount of gold that you instruct us to send to the recipient at the time of your instructions will be recorded in their Nauggets Account.
    18. If the recipient is not a registered Nauggets customer, they will receive an email with instructions on how to register with Nauggets. Once the recipient registers with Nauggets, their Nauggets Account will record the amount of gold that you sent to them. If the recipient does not register within 30 calendar days of the send transaction, the transaction is automatically cancelled and your Nauggets Account will reflect the cancellation of the transaction.
    19. You understand that you may not be able to send gold without validly verifying your identity in accordance with clause 3.5.
    20. Nauggets Rewards

    21. Gold purchased from Nauggets Vault and stored for you in any of its safe custody vaults earns you rewards (Nauggets Rewards) up to a rate of 5.0% per 1 gram of gold purchased per annum in Naugget Points. The Nauggets Rewards accrue daily until you sell or send your gold. They can be exchanged for gold, subject to a minimum purchase of 1 milligram in each exchange transaction.
    22. Except as otherwise provided in the relevant terms or this Agreement, Nauggets Rewards will not expire as long as you maintain an active Nauggets Account.
    23. Transaction Volume Restrictions

    24. Transaction Volume means the aggregate sum of the value in Singapore Dollars or equivalent amount in your local currency of all sell, send and receive transactions, but excluding all buy transactions ( Transaction Volume ).
    25. You understand that we may change transaction limits, from time to time, on the amount or value of gold that you may buy, sell or send and on the total value of gold you may hold in your Nauggets Account at any point in time, in order to comply with anti-money laundering and other laws (and in any case we may suspend your Nauggets Account or any purported transaction in order to comply with the relevant laws, including our anti-money laundering laws and our anti-money laundering policies).
  7. Fees
    1. As further described in this clause and on the website and/or app, fees may apply to your use of the Services and on Gold Transactions.
    2. Nauggets Vault may earn a margin on buy and sell transactions and this margin is included in the gold price that is quoted to you on our website or app referred to as the Nauggets Bid or Offer Price (NBOP).
    3. Transaction fees may also be charged for buy and sell transactions through the Services. The transaction fees are set out in the Fee Schedule located on our website or app, as updated from time to time. When you send gold, there may instead be a reasonable fee for such send transactions deducted in units of Nauggets (defined in clause 8.1).
    4. Depending on the payment method you choose, the payment provider may levy processing charges.
    5. Unless otherwise stated on our website or app, fees provided under these Terms are inclusive of Singapore goods and services tax (GST), which is currently 7%.
  8. Nauggets and gold quality
    1. The gold holdings in your Nauggets Account are denominated in grams.
    2. We ensure that all gold that you buy with us is investment grade gold (meaning at least 99.5% pure) and is refined/minted by a refiner that is accredited by the London Bullion Markets Association or is a certified member of the Responsible Jewellery Council.
  9. Accounting and ownership records
    1. We adhere to standard gold industry accounting practices, which means that we record your account balance based on 100% fine gold content. The fine gold content of a gold bar is its weight multiplied by its purity. For example, the fine gold content of a one-kilogram bar that is 99.99% pure is 999.9 grams.
    2. We keep the master copy of ownership records. Duplicates of our records are stored at two or more widely separated data storage sites.
  10. Nauggets Mastercard

    Coming Soon

  11. Gold storage and bailment
    1. You authorise Nauggets Vault to arrange for the storage of your gold. Nauggets Vault will enter into a storage agreement with one or more vault operators (a Vault Operator).
    2. Nauggets Vault will pay the fees to cover the costs of insurance for your gold stored at one or more designated Vaults of its Vault Operator for as long as you remain our customer. From time to time there may be other incidental charges such as storage.
    3. You hereby authorise Nauggets Vault to act as bailee on your behalf and to provide instructions to the Vault Operator in such capacity. This means that Nauggets Vault will hold your gold for safekeeping with the Vault Operator, but you (as bailor) will retain legal title to the gold. Nauggets Vault will remain bailee of your gold until such time you decide to sell or send your gold. When you send gold and the transaction is completed, Nauggets Vault will become bailee on the recipient's behalf.
    4. Our Vault Operator Brink's Global Services are responsible for the storage, insurance and safekeeping of your gold. Nauggets Pte and Nauggets Vault have no responsibility or liability relating to the gold storage by the Vault Operator.
  12. Privacy
    1. We are committed to complying with our privacy obligations. All personal information we collect from you will be handled by us in compliance with the Personal Data Protection Act.
    2. For more detail on how we collect, use and disclose personal information, please refer to our privacy policy on our website. By using the Services, you acknowledge and agree that you have read and accepted our privacy policy.
  13. Intellectual property and confidentiality
    1. Our Services are protected by intellectual property laws and embody our valuable confidential information and that of our licensors. We and our licensors own all rights, title and interest in respect of the Services including all intellectual property rights. We reserve all rights other than those granted to you under these Terms. Except as permitted by non-excludable laws, you must not reverse engineer, decompile, disassemble, or extract any element of the Services or otherwise seek to discover any source code, algorithms, methods or techniques embodied in the Services. You must not modify, transfer, distribute, pledge, sublicense, rent, lease, or create derivative works based on the Services, including its user interfaces.
    2. All information and material that we supply to you, excluding your Nauggets Account balance and other information specific to your Nauggets Account, constitutes part of our confidential information, except where such information or material is in the public domain through no fault of yours. You must not disclose any such confidential information for any purpose without our prior written consent or except as required by law, court order or any regulatory authority.
  14. Liability
    1. YOUR USE OF THE NAUGGETS APP AND SERVICES ARE AT YOUR OWN RISK. TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE SERVICES AND CONTENT ARE PROVIDED "AS IS," WITHOUT WARRANTY OF ANY KIND. WITHOUT LIMITING THE FOREGOING, NAUGGETS PTE AND NAUGGETS VAULT EXPLICITLY DISCLAIM ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUIET ENJOYMENT, OR NON-INFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE. NAUGGETS PTE AND NAUGGETS VAULT MAKES NO WARRANTY THAT THE SERVICES WILL MEET YOUR REQUIREMENTS OR BE AVAILABLE ON AN UNINTERRUPTED, SECURE, OR ERROR -FREE BASIS, AND WE MAKE NO WARRANTY REGARDING THE QUALITY, ACCURACY, TIMELINESS, TRUTHFULNESS, COMPLETENESS, OR RELIABILITY OF ANY CONTENT.
    2. To the fullest extent permitted by law, we (including our directors, officers, employees, agents, contractors and related companies) will not be liable to you for any liability, loss or cost incurred directly or indirectly whether under contract, negligence or other tort, equity or otherwise arising under or in connection with the Services or these Terms.
    3. You are responsible for your use of the Services including, without limitation, the use of any information provided through the Services. We are not responsible for any errors that occur due to systems or infrastructure beyond our control, including your mobile device hardware, software (including compatibility) or any mobile or wi-fi network.
    4. A "non-excludable condition" is a guarantee, condition or warranty which is provided under non-excludable laws, the exclusion of which from a contract would contravene any law or cause any part of these Terms to be void. Despite any other provision of these Terms, nothing in these Terms excludes, restricts or modifies a non-excludable condition. Our liability to you for a non-excludable condition is limited (at our option) to:
      1. supplying the Services again; orsupplying the Services again; or
      2. the payment of the cost of having the Services supplied again.
    5. Subject to any non-excludable conditions, we exclude all warranties or conditions in relation to the Services implied by law.
    6. TO THE EXTENT PERMITTED BY APPLICABLE LAW, NEITHER US, NOR OUR RELATED ENTITIES, ASSOCIATES OR ANY OTHER PARTY INVOLVED IN CREATING, PRODUCING, OR DELIVERING THE SERVICES OR CONTENT (INCLUDING WITHOUT LIMITATION NAUGGETS VAULT) WILL BE LIABLE TO YOU FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, EXEMPLARY, OR CONSEQUENTIAL DAMAGES, INCLUDING LOST PROFITS, LOSS OF DATA, OR GOODWILL, SERVICE INTERRUPTION, COMPUTER DAMAGE, OR SYSTEM FAILURE OR THE COST OF SUBSTITUTE SERVICES, ARISING OUT OF OR IN CONNECTION WITH THESE TERMS, OR FROM THE USE OF OR INABILITY TO USE THE SERVICES. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, SO THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.
    7. IN NO EVENT WILL THE TOTAL LIABILITY OF NAUGGETS PTE, NOR OUR RELATED ENTITIES, ASSOCIATES OR ANY OTHER PARTY INVOLVED IN CREATING, PRODUCING, OR DELIVERING THE SERVICES OR CONTENT ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES OR CONTENT EXCEED ONE SINGAPORE DOLLAR (SGD 1.00). THE EXCLUSIONS AND LIMITATIONS OF DAMAGES SET FORTH ABOVE ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN NAUGGETS AND YOU.
    8. Nauggets Vault

    9. You accept that use of the Services does not create any contract of sale between you and us. If you enter into a Gold Transaction, any contract of sale is between you and Nauggets Vault. Similarly, any bailment arrangement is between you and Nauggets Vault.
    10. If Nauggets Vault breaches any obligation to you, you are responsible for enforcing any rights that you may have against Nauggets Vault.
    11. In no event will we (including our directors, officers, employees, agents, contractors or related companies) be liable to you for any liability, loss or cost suffered directly or indirectly whether under contract, negligence or other tort, equity or otherwise arising under or in connection with any buy or sell transactions or bailment arrangements with Nauggets Vault.
    12. We hold the protections in this clause 14 on trust for the benefit of our directors, officers, employees, agents, contractors and related companies.
  15. Conduct, General Prohibitions and Our Enforcement Rights
    1. You agree that you are responsible for your own conduct while using the Services, and for any consequences thereof. By way of example, and not as a limitation, you agree that when using the Services and Content, you will not:
      1. violate, or encourage any conduct that would violate, any applicable law or regulation or would give rise to civil liability;
      2. trespass, or in any manner attempt to gain or gain access to any property or location where you do not have a right or permission to be;
      3. impersonate or misrepresent your affiliation with another person or entity;
      4. submit fake, falsified, misleading, or inappropriate data submissions, edits, or removals;
      5. use any unauthorised third-party software (e.g. bots, mods, hacks, and scripts) to modify or automate operation or attempt to circumvent any restriction in the Service including restrictions on your location. If you do, Nauggets Pte has the power to suspend or terminate your access to some or all of the Services and apply additional remedies as described below;
      6. transmit any viruses, worms, defects, Trojan horses, or any items of a destructive nature;
      7. use, display, mirror, or frame the Services or any individual element within the Services or other proprietary information of Nauggets Pte or Nauggets Vault, or the layout and design of any page or form contained on a page, without Nauggets Pte’s express prior written consent;
      8. use or register anywhere in the world any domain name, social media handle, trade name, trade mark, branding, logo or other source identifier of Nauggets, Nauggets Pte or Nauggets Vault, or that may be confused with the same, without Nauggets Pte’s express prior written consent;
      9. use other proprietary information, or the layout and design of any page or form contained on a page, without Naugget’s express prior written consent;
      10. access, tamper with, or use non-public areas of the Services, Nauggets Pte’s computer systems, or the technical delivery systems of Nauggets Pte’s providers;
      11. attempt to probe, scan, or test the vulnerability of any Nauggets Pte’s system or network or breach any security or authentication measures;
      12. avoid, bypass, remove, deactivate, impair, descramble, or otherwise circumvent any technological measure implemented by Nauggets Pte or any of Nauggets Pte’s providers or any other third party (including another user) to protect the Services;
      13. attempt to access or search the Services or Content, or download Content from the Services through the use of any technology or means other than those provided by Nauggets Pte or other generally available third-party web browsers (including, without limitation, automation software, bots, spiders, crawlers, data-mining tools, or hacks, tools, agents, engines, or devices of any kind);
      14. interfere with, or attempt to interfere with, the access of any user, host, or network, including, without limitation, sending a virus, overloading, flooding, spamming, or mail-bombing the Services;
      15. take any action that imposes, or may impose, an unreasonable or disproportionately large load on the Services or Nauggets Pte’s infrastructure;
      16. use the Services or Content, or any portion thereof, for any commercial purpose or for the benefit of any third party or in a manner not permitted by these Terms, including but not limited to (a) gathering Gold for sale outside the Naugget’s App, or (b) sell, resell, rent, or lease the App or your Nauggets Account;
      17. violate any applicable law or regulation; or
      18. encourage or enable any other individual to do any of the foregoing.
    2. Although we are not obligated to monitor access to or use of the Services, we have the right to do so for the purpose of operating the Services, to ensure compliance with these Terms, and to comply with applicable law or other legal requirements. If we, at our sole discretion, consider any use of the Service to be objectionable or in violation of these Terms, we reserve the right, but are not obligated, to remove or disable any user's access to the Service. We have the right at our sole discretion to investigate violations of these Terms or conduct that affects the Services. We may also consult and cooperate with law enforcement authorities to assist in the prosecution of users who violate the law.

  16. Account suspension, termination or cancellation
    1. We may immediately suspend, terminate or cancel your Nauggets Account and refuse to provide the Services to you if:
      1. we are required to do so by order of a court or regulatory authority, or otherwise required by law;
      2. we suspect your Nauggets Account is being used for an unlawful purpose or in a fraudulent, misleading, deceptive, inappropriate or unlawful manner;
      3. we become insolvent or wind up or decide to discontinue the Service for any reason (Wind Up Event); or
      4. you are otherwise in breach of any of these Terms.
    2. We may, at our discretion, terminate this agreement by giving you at least 14 days' written or electronic notice.
    3. You may cancel your Nauggets Account at any time by selling or sending the balance of your gold in your Nauggets Account in accordance with these Terms and by contacting us at customers@nauggets.com.
    4. If any transaction is pending at the time your Nauggets Account is suspended, terminated or cancelled, the transaction will be cancelled and/or refunded as appropriate.
    5. If your Nauggets Account or this Agreement is suspended, terminated or cancelled:
      1. you remain liable for any amounts owing to us and we are entitled to set off such amounts against the value of any gold in your Nauggets Account;
      2. unless otherwise required by law and subject to clause 6.13, we will at your option buy the amount you have in gold at the NBOP or allow you to send the gold to another registered Nauggets customer;
      3. if because of clause 6.12 you are unable to sell the gold and you choose not to send the gold to another registered Nauggets customer, at the end of 30 days you will forfeit the gold in your Nauggets Account (i.e. where it is less than a value of SGD 14.00);
      4. with respect to your agreement with Nauggets Vault, you must cease to hold any gold with Nauggets Vault within 30 days and that agreement shall automatically terminate on the earlier of the date that we buy back the gold in your Nauggets Account, the gold is forfeited or you send the gold to another registered Nauggets customer under this clause 16.5. If you fail to take any action within the 30 days, we shall buy back the gold at applicable rates and transfer the proceeds net of any amounts owing; and
      5. to avoid doubt, at the end of this Agreement for any reason you are not entitled to receive the physical gold remaining in your Nauggets Account, but instead it must be either sent, bought or forfeited as described above.
      6. If a technical problem occurs, we may temporarily suspend access to your Nauggets Account until the problem is solved.
    6. If a technical problem occurs, we may temporarily suspend access to your Nauggets Account until the problem is solved.
  17. Additional Terms for App Store Apps
    1. If you accessed or downloaded the Nauggets App from the Apple Store, then you agree to use the App only: (a) on a compatible and fully working Apple-branded product or device that runs iOS (Apple's proprietary operating system software); and (b) as permitted by the "Usage Rules" set forth in the Apple Store Terms of Service.
    2. If you accessed or downloaded the Nauggets App from any app store or distribution platform (like the Apple App Store or Google Play Store) (each, an " App Provider"), then you acknowledge and agree that:
      1. These Terms are concluded between you and Nauggets Pte, and not with App Provider, and that, as between us and the App Provider, Nauggets Pte is solely responsible for the Nauggets App. App Provider has no obligation to furnish any maintenance and support services with respect to the Nauggets App.
      2. In the event of any failure of the Nauggets App to conform to any applicable warranty, you may notify App Provider, and App Provider will refund the purchase price for the Nauggets App to you (if applicable) and, to the maximum extent permitted by applicable law, App Provider will have no other warranty obligation whatsoever with respect to the App. Any other claims, losses, liabilities, damages, costs, or expenses attributable to any failure of an App to conform to any warranty will be the sole responsibility of Nauggets Pte. App Provider is not responsible for addressing any claims you have or any claims of any third party relating to the App or your possession and use of the Nauggets App, including but not limited to: (i) product liability claims; (ii) any claim that the Nauggets App fails to conform to any applicable legal or regulatory requirement; and (iii) claims arising under consumer protection or similar legislation.
      3. In the event of any third-party claim that the App or your possession and use of the Nauggets App infringes that third party's intellectual property rights, Nauggets Pte will be solely responsible for the investigation, defence, settlement, and discharge of any such intellectual property infringement claim to the extent required by these Terms.
      4. App Provider and its subsidiaries are third-party beneficiaries of these Terms as related to your license of the Nauggets App, and that, upon your acceptance of the terms and conditions of these Terms, App Provider will have the right (and will be deemed to have accepted the right) to enforce these Terms as related to your license of the Nauggets App against you as a third-party beneficiary thereof.
      5. You must also comply with all applicable third-party terms of service when using the Nauggets App.
      6. You agree to comply with all Singapore laws and regulations to ensure that neither the Nauggets App nor any technical data related thereto nor any direct product thereof is exported or re-exported directly or indirectly in violation of, or used for any purposes prohibited by, such laws and regulations. By using the Nauggets App, you represent and warrant that: (i) you are not located in a country that is subject to a Government embargo, or that has been designated as a "terrorist supporting" country; and (ii) you are not listed on any list of prohibited or restricted parties.
  18. Death or incapacity
    1. If you die or become incapacitated, we will take instructions in respect of your Nauggets Account from your legal personal representative , subject to their providing us sufficient proof of their authority to act on your behalf.
  19. General
    1. These Terms constitute the entire agreement between you and us and supersede and extinguish all previous agreements, arrangements and understandings, whether written or oral, relating to its subject matter.
    2. Nauggets Pte and you acknowledge and agree that in entering into these Terms, each of us does not rely on any undertaking, promise, assurance, statement, representation, warranty or understanding (whether in writing or not) of any person (whether party to this agreement or not) relating to the subject matter of this agreement, other than as expressly set out in these Terms.
    3. We may assign the agreement embodied in these Terms without your prior consent. You may not assign this agreement.
    4. No waiver of any term of this agreement will be deemed a further or continuing waiver of that term or any other term. No failure to assert any right under this agreement will constitute a waiver of that right.
    5. If any provision of this agreement is deemed invalid by a court of competent jurisdiction, the invalidity of that provision will not affect the validity of the remaining provisions of the agreement, which will remain in full force and effect.
    6. Any dispute with Nauggets Vault should be directed to Nauggets Vault. We are in no way responsible in relation to any such dispute.
    7. The Terms constituting this agreement are governed by the laws of Singapore. The parties submit to the exclusive jurisdiction of the courts of Singapore.