Jump to content


GOLD BULLION live 'Offer' prices -non performance HELP!!


graham 877
 Share

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 2327 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

I recently made a purchase ONLINE, live, gold bullion.

 

 

I have used the regulated company & site many times before.

 

 

pressing the CONFIRM button .

it requires acceptance etc, that clearly states the order cannot be CANCELLED and payment is immediate by debit card.

 

 

it is VERY clear that this contract is exempt Regulations 2013 regulation distance and off-premises because of LIVE fluctuating prices.

PRICES ARE FIXED upon confirming, which I did, and is a in STOCK items.

 

I receive the confirmation of ORDER , and acceptance of order also confirmation of receipt of payment ALL 3 By email.

 

However the fluctuating OFFER price was a lot lot lower than usual

.But the gold markets where very volatile (e.g. in 1min GOLD price fell 5% Lower, though I did not know this , till later,)

but I made the decision to purchase. and I was very very happy.

 

Please could you advise me if the well established bullion online regulated trading company,

can now, cancel my order. and just refund my payment.

 

 

Briefly citing it was an live OFFER price ' error ' due to technical /software glitch.

and stated I am taking advantage of them.

and if I continue the argument they will hand my case to their solicitors.

 

please advise, many thanks

 

graham young

Link to post
Share on other sites

I recently made a purchase ONLINE, live, gold bullion.

 

 

I have used the regulated company & site many times before.

 

 

pressing the CONFIRM button .

it requires acceptance etc, that clearly states the order cannot be CANCELLED and payment is immediate by debit card.

 

 

it is VERY clear that this contract is exempt Regulations 2013 regulation distance and off-premises because of LIVE fluctuating prices.

PRICES ARE FIXED upon confirming, which I did, and is a in STOCK items.

 

I receive the confirmation of ORDER , and acceptance of order also confirmation of receipt of payment ALL 3 By email.

 

However the fluctuating OFFER price was a lot lot lower than usual

.But the gold markets where very volatile (e.g. in 1min GOLD price fell 5% Lower, though I did not know this , till later,)

but I made the decision to purchase. and I was very very happy.

 

Please could you advise me if the well established bullion online regulated trading company,

can now, cancel my order. and just refund my payment.

 

 

Briefly citing it was an live OFFER price ' error ' due to technical /software glitch.

and stated I am taking advantage of them.

and if I continue the argument they will hand my case to their solicitors.

 

please advise, many thanks

 

graham young

 

"However the fluctuating OFFER price was a lot lot lower than usual " : a "lot lot" enough that it would have been LIKELY that it was an error?

 

What do their terms & conditions say regarding any error they might make in pricing?

Link to post
Share on other sites

Hi

I agree, a good read of the terms and conditions will tell you what is what.

 

It comes across that YOU cannot cancel but I bet the company can.

 

As with other companies, the contract isn't complete until the item reaches you or has been dispatched.

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

Please help CAG. Order this ebook. Now available on Amazon. Please click HERE

Link to post
Share on other sites

As with other companies, the contract isn't complete until the item reaches you or has been dispatched.

 

If this is like stokes & share dealing, there are no "goods" to ship. Everything is held in a central location and the horse trading goes on around it and nothing leaves the vaults.

 

In this situation, once conformation of the 'buy' or 'sell' transaction has been received, I would argue thath that is the point where the contract has been accepted by both parties.

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

No... you can't eat my brain just yet. I need it a little while longer.

Link to post
Share on other sites

If this is like stokes & share dealing, there are no "goods" to ship. Everything is held in a central location and the horse trading goes on around it and nothing leaves the vaults.

 

In this situation, once conformation of the 'buy' or 'sell' transaction has been received, I would argue thath that is the point where the contract has been accepted by both parties.

 

the sale was done with free insured delivery, the market suffered a ' flash crash' at the time. the contract can only be cancelled under externe circumstances, EG criminal activity, fraud. etc. and the contract ends when delivered and signed for.

Link to post
Share on other sites

]The company been in contact and asked me to keep this confidential and without prejudice, and offered a"small amount of silver' for the innocence caused.

 

the QUESTION IS, would they be offering anything if they where not liable.

Edited by graham 877
addition
Link to post
Share on other sites

If this is like stokes & share dealing, there are no "goods" to ship. Everything is held in a central location and the horse trading goes on around it and nothing leaves the vaults.

 

In this situation, once conformation of the 'buy' or 'sell' transaction has been received, I would argue thath that is the point where the contract has been accepted by both parties.

 

i have left an update UNDER MR P, thanks

Link to post
Share on other sites

the sale was done with free insured delivery, the market suffered a ' flash crash' at the time. the contract can only be cancelled under externe circumstances, EG criminal activity, fraud. etc. and the contract ends when delivered and signed for

 

 

The company been in contact and asked me to keep this confidential and without prejudice, and offered a"small amount of silver' for the innocence caused.

 

the QUESTION IS, would they be offering anything if they where not liable.

Link to post
Share on other sites

the sale was done with free insured delivery, the market suffered a ' flash crash' at the time. the contract can only be cancelled under externe circumstances, EG criminal activity, fraud. etc. and the contract ends when delivered and signed for.

 

It is irrelevant when the contract ends : unless you mean that is the point at which the contract is _formed_ : in which case they can cancel before it is "delivered & signed for".

 

Again, what do the T's and C's say?.

 

the QUESTION IS, would they be offering anything if they where not liable.

 

It might be that they feel there is a small chance they may have liability, and rather than risk it they are making an offer.

Or, they may feel an offer is better than the hassle of a potential court case

Or, they may feel it is worth making an offer in the name of goodwill,

Or they may be making an offer in order to "keep quiet" that they had a computer glitch.

 

I don't think you can read into it "they are making an offer, so they must think I could win a case for the whole value".

Link to post
Share on other sites

T & C cancellation says

 

5 - Cancellation

 

The right to cancel under Regulation 13 of the Consumer Protection (Distance Selling) Regulations 2000 does not apply because the price of all goods that we sell is dependent upon fluctuations in the financial markets that are beyond our control.

 

ALSO It does not say a contract is formed at delivery any where

 

 

also says under

OUR liability

We cannot be held responsible for our products once ownership has been passed to the customer.

 

 

under ORDERS it says

 

3 – Orders

 

Orders can be placed through the website or by calling us on our Freephone numbers shown on the website.

 

Once you have placed an order cancellation is NOT possible under the distance selling regulations due to the fluctuating nature of the precious metals market. We will pursue payment for all orders placed.

Link to post
Share on other sites

T & C cancellation says

 

5 - Cancellation

 

The right to cancel under Regulation 13 of the Consumer Protection (Distance Selling) Regulations 2000 does not apply because the price of all goods that we sell is dependent upon fluctuations in the financial markets that are beyond our control.

 

ALSO It does not say a contract is formed at delivery any where

 

 

also says under

OUR liability

We cannot be held responsible for our products once ownership has been passed to the customer.

 

 

under ORDERS it says

 

3 – Orders

 

Orders can be placed through the website or by calling us on our Freephone numbers shown on the website.

 

Once you have placed an order cancellation is NOT possible under the distance selling regulations due to the fluctuating nature of the precious metals market. We will pursue payment for all orders placed.

 

Does it say either / both of:

1) The point at which the contract is formed,

2) Their (rather than your) right to cancel?

Link to post
Share on other sites

The way I see it. If I ordered 100 gold coins and really only wanted 10 but my computer's decimal point was not working properly a "technical glitch' as they say , and submitted instant payment like I did in this case. like they did not realise there was problem . would I be able to cancel contract. surely the contract as to be fair.

 

according to the 'exempt regulation' Cancelation of contract, is only possible in exceptional circumstances EG criminal activity or fraud suspicious or otherwise.

Link to post
Share on other sites

The way I see it. If I ordered 100 gold coins and really only wanted 10 but my computer's decimal point was not working properly a "technical glitch' as they say , and submitted instant payment like I did in this case. like they did not realise there was problem . would I be able to cancel contract. surely the contract as to be fair.

 

according to the 'exempt regulation' Cancelation of contract, is only possible in exceptional circumstances EG criminal activity or fraud suspicious or otherwise.

 

Since you keep avoiding providing the requested information that will allow a reliable answer to be provided for you ....

1) do you have that info or not?

a) The point at which the contract is formed,

b) Their (rather than your) right to cancel

2) If you have that info are you withholding it in the hope that you'll just be given the answer you want to hear?

Link to post
Share on other sites

The T &C say nothing else about cancellation

 

5 - Cancellation

 

The right to cancel under Regulation 13 of the Consumer Protection (Distance Selling) Regulations 2000 does not apply because the price of all goods that we sell is dependent upon fluctuations in the financial markets that are beyond our control.

 

The other parts where the formed i think, is

 

2 – Delivery

 

You will be required to provide a delivery address at time of order. The delivery address MUST match the cardholder’s address which has been used to make online card payment. Under no circumstances can the goods be delivered to any other address when paid by card. Goods will then be dispatched to this address once payment has been verified. You will be responsible to ensure their safe receipt at the address provided. We do not deliver to PO Box addresses.

 

We cannot be held responsible for delays to the postal system which may affect delivery of your goods.

 

Ownership of goods passes to the customer once full payment is received and a signature has been accepted at the address provided by the client at the time of order.

 

AND here: ( I have omitted name of company)

 

 

By using this website and/or entering into dealings with us you agree to accept the following Terms & Conditions. We reserve the right to update and change the website and these terms without prior warning or notice. These Terms & Conditions do not affect your statutory rights. These terms and any contract entered into in consequence of your use of our website are subject to English law and the sole jurisdiction of the courts of England & Wales. In order to use our service you must be 18 years of age or over.

 

 

3 – Orders

 

Orders can be placed through the website or by calling us on our Freephone numbers shown on the website.

 

Once you have placed an order cancellation is NOT possible under the distance selling regulations due to the fluctuating nature of the precious metals market. We will pursue payment for all orders placed.

 

 

 

>>>>>>>>>>>

I did receive a ' confirmation of order' , a "confirmation of acceptance ' and 'receipt of payment' a few hours after using website.

Edited by graham 877
Addition
Link to post
Share on other sites

The T &C say nothing else about cancellation

 

5 - Cancellation

 

The right to cancel under Regulation 13 of the Consumer Protection (Distance Selling) Regulations 2000 does not apply because the price of all goods that we sell is dependent upon fluctuations in the financial markets that are beyond our control.

 

The other parts where the formed i think, is

 

2 – Delivery

 

You will be required to provide a delivery address at time of order. The delivery address MUST match the cardholder’s address which has been used to make online card payment. Under no circumstances can the goods be delivered to any other address when paid by card. Goods will then be dispatched to this address once payment has been verified. You will be responsible to ensure their safe receipt at the address provided. We do not deliver to PO Box addresses.

 

We cannot be held responsible for delays to the postal system which may affect delivery of your goods.

 

Ownership of goods passes to the customer once full payment is received and a signature has been accepted at the address provided by the client at the time of order.

 

AND here: ( I have omitted name of company)

 

 

By using this website and/or entering into dealings with us you agree to accept the following Terms & Conditions. We reserve the right to update and change the website and these terms without prior warning or notice. These Terms & Conditions do not affect your statutory rights. These terms and any contract entered into in consequence of your use of our website are subject to English law and the sole jurisdiction of the courts of England & Wales. In order to use our service you must be 18 years of age or over.

 

 

3 – Orders

 

Orders can be placed through the website or by calling us on our Freephone numbers shown on the website.

 

Once you have placed an order cancellation is NOT possible under the distance selling regulations due to the fluctuating nature of the precious metals market. We will pursue payment for all orders placed.

 

 

 

>>>>>>>>>>>

I did receive a ' confirmation of order' , a "confirmation of acceptance ' and 'receipt of payment' a few hours after using website.

 

Is this the same one that in "1 - - Prices & Payment", it says:

Prices stated on the website are “live” and they will be fixed at the time you order for any values less than £15000.00. The prices are based on the current trading price of gold which is shown on the website. Multiple orders placed at a similar time may be subject to changes in the price due to market fluctuations and stock availability decided during trading hours. We reserve the right to cancel any order even after payment received

 

and at the end of "2 - Delivery", says:

Failure to deliver an order on our part will result in a full refund of the original amount paid or goods as a replacement. No liability will be accepted by us for any price fluctuation in those circumstances

 

If so, you have your answer.

If not, can we have a link to their T's & C's?.

Link to post
Share on other sites

OK thats the answer .I don't want to expose the name of company at present Thanks,

 

Incidentally, the website JUST now is showing prices again at prices that are INCORRECT again !!!! at Many MANY times difference Eg silver at 495 GBP per 1 oz and usual price is (9.00 per oz) GOLD at 80% lower than todays price

 

another technical glitch ?

Link to post
Share on other sites

MANY Thanks for your time ,

 

 

I did not want to give out the name of the company at this stage and their name is in the T & C s .the value however is 8000 GBP .

 

However the regulator, as just, eventually, replied also ,

After seeing the full T & Cs, They now have requested copies the 3 emails confirming acceptance etc .and any other correspondence so for, luckily I also screenshot the prices. as well .They state

[copy/paste]bullion industry cannot to conduct business to the standards, that I allege.

 

also

 

[copy/paste]It now requires further investigation, to consider any possible breach in regulations

 

and

 

[copy/paste]we request make you not any contact, pending their enquires

 

 

Thanks again . I am going to leave it in their hands now, thanks everyone.

 

graham877

Link to post
Share on other sites

Their get out of jail card is they can claim that they didnt have the stock at the time of purchase and can then refund the money as per their T&C's.

I would be complaining to Trading Standards as it was not a glitch on the computer but a deliberate refusal to honour your purchase contract. You might not get any joy but they will have their cards marked should it become a common problem.

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...