Monthly Medallion Club Terms and Conditions:

Your Monthly Medallion Club (“MMC”) subscription and membership terms and conditions as set-out below must be read in conjunction with the standard DCX Bullion Terms and Conditions, as well as the Shipping and Delivery, Return, Refund and Cancellation policies, available on the DCX Bullion website.

1. Monthly Medallion Club (“MMC”) Membership
1.1. Details of the MMC packages, cost and benefits are set out on our website. You may subscribe to MMC Membership at any time.
1.2. Apart from your cancellation right, termination of MMC Membership will be regulated by this contract set out in paragraph 8 below.
1.3. You may not transfer your MMC Membership to any other person.
1.4. We reserve the right to modify the MMC Membership rules or system and to change the terms and conditions of this agreement at any time, without notice. Your continued use of the MMC Membership after such modifications shall be deemed an acceptance by you to be bound by the terms of the modified agreement. The terms that apply to you are those posted here on our website on the day you join as a member.

2. Definitions
In this agreement:

“DCX Bullion” means the company as defined in our Standard Terms and Conditions published on the DCX Bullion website.

“Member” means, you as the purchasing client and subscription member of the MMC services.

“Membership
Package” means the package option to purchase one or more one ounce Silver or Gold medallions through monthly instalment down-payments, as set-out on our website under the MMC package options, and as updated from time to time.

“Member Statement” means a DCX Bullion generated monthly statement of account indicating the Member’s allocated bullion, Silver, Gold or Platinum in grams accumulating towards a full one ounce, as well as any full product, one ounce medallion, available for delivery or vaulting, delivery fees, membership fees and any admin or handling fees applicable.

“Product” means a one ounce physical Silver, Gold or Platinum medallion purchased per the selected Membership Package.

“Payment” means your monthly instalment down-payment towards one or more full one ounce physical Silver, Gold or Platinum medallions as per the MMC package selected.

“Standard Terms
and Conditions” means the Standard Terms and Conditions as published and set-out on the DCX Bullion website and read in conjunction with our Privacy and Refund Policies, as published on our website and including any changes, updates or additions that may be made to the Terms and Conditions and policies from time to time. You can review the most current version of the Terms and Conditions at any time on the DCX Bullion website.

3. The Purchase
3.1. This agreement relates to the purchase by you the Member from DCX Bullion of one or more one ounce physical Silver, Gold and/or Platinum medallions or portions thereof as per the selected MMC package(s), on the basis that the Member makes payment for the Product by way of a debit order and in instalments over a period of time, until the accumulated payments are sufficient to allocate one or more physical Silver, Gold and/or Platinum medallions to the Member.
3.2. The price paid for the Product or portion thereof will be determined by the market price as per the DCX Bullion daily pricelock on the day of the debit order instalment payment made by the Member. The amount of bullion, Silver, Gold or Platinum in grams accumulating towards a full ounce, will be allocated to the Member on their Member Statement for the month.
3.3. Once the Member has accumulated sufficient grams of bullion, one or more full ounce Silver, Gold and/or Platinum medallions are allocated to the Member and the Member has the choice to either have the Product delivered or vaulted with DCX Bullion.
3.4. MMC members have a choice of having their Product (Bullion medallions) that are of an accumulated value of no more than R3,000, delivered with the Postnet-to-Postnet Services or with secure courier delivery services, and the delivery and insurance charges will be deducted from the Member’s instalment payment (Purchase) made during the month of delivery.
3.5. For MMC members’ Product (Bullion medallions) of an accumulated value exceeding R3,000 the Product will be delivered with secure courier delivery services and delivery and insurance charges will be deducted from the Member’s instalment payment (Purchase) made during the month of delivery.
3.6. Vaulting with the DCX Bullion Fidelity High Security Vaulting services is free of charge to all MMC members, including insurance for bullion values up to R1 million.
3.7. The parties acknowledge that this agreement constitutes the delayed or postponed delivery of the Product on the basis that the Member only receives one or more physical Silver, Gold and / or Platinum medallions either delivered or vaulted after the Member has made payment in full for the cost of the one or more one ounce medallions as accumulated over monthly instalments.
3.8. The Member does purchase and own portions of the full Product in instalments and can liquidate these accumulated portions, indicated in grams on the Member’s Statement at any time at the spot price for the specific bullion product on the day of request for liquidation made to DCX Bullion.
3.9. An administration and handling fee will be charged on Liquidation request to facilitate the process and will be for the Member’s account.
3.10. The Member cannot request bullion denominations smaller than 1 ounce medallions to be delivered or vaulted in their name. No other products but 1 ounce medallions in either Silver, Gold or Platinum as per the selected Membership Package can be purchased through the MMC programme.
3.11. A Membership fee of 5% of the total Membership Package cost will be charged and is included in the monthly purchases / instalments made by the Member and indicated on the Member’s Monthly Statement.
3.12. All delivery and insurance fees for Product requested to be delivered is for the Member’s account and will be deducted from the Membership Package instalment purchase made in the month of delivery and indicated on the Member’s Monthly Statement.
3.13. No credit has been extended to the Member, DCX Bullion agreeing to sell Silver, Gold and/or Platinum medallions in instalments to the Member and retaining stock of the Product until the Member has paid the amount required for the full Product, being a one ounce Silver, Gold or Platinum medallion and multiples of it as per the selected Membership Package. The parties further acknowledge that the legal relationship between them is comparable to a sale of the Product on a lay-by system with certain added benefits being offered by DCX Bullion in the form of free Vaulting and Insurance for vaulted products as detailed on our website, as well as purchasing bullion at market indicated prices over a period of time, stacking bullion for affordable monthly instalments.
3.14. DCX Bullion will maintain a record of all payments made and bullion grams allocated, including membership fees and any additional applicable charges on a monthly bases in the Member’s Monthly Statement to be emailed to the Member 7 days after the monthly debit purchase has been processed, to ensure a full and detailed accounting between the parties.
3.15. DCX Bullion warrants that it, in conjunction with its Manufacturing Partner, shall at all times hold sufficient stock of the Product as per Member purchases.
3.16. Risk in the product shall pass from DCX Bullion to the Member at the time of physical delivery to the Member and not before. Until then the risk in the product remains with DCX Bullion and is covered under the DCX Bullion and Fidelity Vaulting and Insurance agreement.

4. Payments and Product Allocation
4.1. The Member undertakes to pay DCX Bullion the monthly amounts as per the selected Membership Package set out in the application form on the 1st of every month, until the Member gives notice of termination of the agreement as per paragraph 7 below.
4.2. After the Membership fee deduction, and any other delivery or administration fees if applicable, the amount paid will be allocated to the bullion Product as per the selected Membership Package and according to the market price for a one ounce medallion on the day as indicated on the DCX Bullion Pricelock.
4.3. Once the Member’s accumulation equates to one or more full ounces of Silver, Gold or Platinum medallions, the physical medallions will be delivered or vaulted as per the Member’s request. Unless otherwise agreed DCX Bullion shall nominate the carrier/transporter/courier of the Product to the Member and the cost thereof together with any other expenses (insurance, packaging, etc.) that may be incurred by DCX Bullion shall be for the account of the Member and deducted from that month’s Membership instalment made.
4.4. Member’s electing to vault their Product will receive the Vaulting, Insurance and Transport to the Vault Services at no additional cost.
4.5. A Member shall not be entitled to add parties to this agreement or divide the agreement into parts or request that amounts paid in terms of this membership agreement be allocated towards any other contract in order to purchase the product or for any other purpose. All payments received by DCX Bullion on the account shall be recorded as a payment received for and in the name of the Member irrespective of the party making the payment on behalf of the Member.

5. Debit Orders
5.1. The Member undertakes to make payment of the amounts due for the Product as per the Membership Package chosen by the Member by way of debit order on the Member’s bank account, debit or credit card.
5.2. In order to achieve same, the Member undertakes to do all things and sign all documents necessary, to ensure that this is achieved.
5.3. Unless otherwise agreed all such recurring transactions take place on the first day of each month. If a debit order transaction is declined, DCX Bullion will re-present the debit order to the Member’s bankers for payment and each time this becomes necessary (including the first occasion of such debit default) a R50-00 administration fee will immediately be levied against the Member’s account on any unpaid or declined debit order.
5.4. The Member warrants that all information supplied is true and correct.
5.5. It is the Member’s responsibility to ensure that DCX Bullion has the most up to date contact and billing information of and for the Member at all times.

6. Security of your credit card, debit card and/or account details
We take care to make Our Website safe for you to use.
6.1. Card payments are not processed through pages controlled by us. We use one or more online payment service providers who will encrypt your card or bank account details in a secure environment.
6.2. If you have asked us to remember your card details in readiness for your next purchase or subscription, we will securely store your payment details on our systems. These details will be fully encrypted and only used to process your automatic monthly payments if applicable, or other transactions which you have initiated.

7. Fees and Charges
7.1. A Membership fee of 5% of the total Membership Package cost as described in 3.11 above is included in the monthly instalment.
7.2. On request for delivery all delivery and insurance charges will be for the Member’s account and deducted from that month’s instalment amount.
7.3. An administration fee of R 50-00 will be charged to the Member each time any debit order is not met and has to be represented for payment, including any actual bank charges as charged by DCX Bullion’s bankers or financial institution on any transactions between it and the Member.
7.4. An administration fee of R100 will be charged to process any requests for liquidation.
7.5. A cancellation fee of R150 will be charged to process any requests for Membership Termination and can be deducted from any funds allocated to bullion on the Member’s membership.

8. Termination of Agreement
8.1. A Member can terminate their MMC membership at any time by giving written notice to DCX Bullion one calendar month in advance of their required termination date.
8.2. DCX Bullion will terminate the membership and cancel the Member’s Debit order on receipt of the written termination request for termination in the following month.
8.3. A cancellation fee as per clause 6.5 above will be applicable to any Membership termination.
8.4. In the instance of terminating your MMC Membership:
8.4.1 We will deliver to you all accumulated one ounce medallions, either Silver, Gold or Platinum medallions as per your Membership package.
8.4.2 The delivery fee will be for your account and can be deducted from any funds you have available on your Membership number through your monthly membership fees.
8.4.3 Any funds allocated to bullion will be refunded to you at the spot price of the bullion on the day of receipt of your membership termination notice to us, after the deduction of a cancellation fee of R150 and any applicable delivery fees, and will be paid into the bank account provided by you, within 7 (seven) working days after termination of your membership.

9. Acceptance of Agreement
9.1. By signing the application form the Member accepts The DCX Bullion Monthly Medallion Club Terms & Conditions; and
9.2. DCX Bullion Standard Terms and Conditions as set forth herein and agrees to be bound to the arrangements recorded herein.
9.3. DCX Bullion shall not be liable or deemed to be in default for any delay or failure in performance under this Agreement resulting directly or indirectly from acts of God, civil or military authority, and acts of public enemy, war, riots, civil disturbances, insurrections, accidents, fire, explosions, earthquakes, floods, the elements, strikes, labour disputes or any cause beyond DCX Bullion’s reasonable control