By accessing the platforms, services, and trading desks of Royal Group Commodities ("the Company"), the entity ("the Client") agrees to be bound by these Institutional Terms of Service. These terms constitute a legally binding agreement between the Client and the Company.
1. Scope of Services
Royal Group Commodities provides institutional-grade trading, sourcing, and logistical services for precious metals and commodities. Our services include but are not limited to:
- Physical bullion procurement and refining logistics.
- Over-the-counter (OTC) trading facilities for institutional partners.
- Secure vaulting and custodial coordination services.
- Market advisory and compliance reporting for bulk transactions.
The Company reserves the right to modify or terminate any aspect of the services provided, subject to existing contractual obligations with institutional clients.
2. User Obligations
Clients are required to maintain the highest standards of corporate integrity and compliance. This includes:
- KYC/AML Compliance: Providing accurate, up-to-date documentation regarding ultimate beneficial ownership (UBO).
- Source of Funds: Ensuring all funds used for transactions are derived from legitimate legal sources in accordance with UAE federal laws.
- Platform Integrity: Protecting access credentials and notifying the Company immediately of any suspected security breaches.
- Reporting: Adhering to jurisdictional reporting requirements as mandated by the SAIF Zone and UAE central regulatory bodies.
Institutional Notice
All transactions are subject to rigorous due diligence. Royal Group Commodities strictly adheres to the LBMA Responsible Sourcing Guidance and DMCC Rules for Risk Based Due Diligence.
3. Liability Disclaimers
The Company provides market data and execution services on an "as-is" and "as-available" basis.
- Market Risk: The Company shall not be liable for losses resulting from market volatility, fluctuations in commodity prices, or currency exchange rates.
- Execution Delay: The Company is not responsible for losses caused by technical failures, network latency, or force majeure events beyond its reasonable control.
- Limitation of Liability: In no event shall the Company's total aggregate liability exceed the total fees paid by the Client to the Company in the six (6) months preceding the claim.
4. Governing Law
These Terms of Service and any non-contractual obligations arising out of or in connection with them shall be governed by and construed in accordance with the laws of the Sharjah Airport International Free Zone (SAIF Zone) and the federal laws of the United Arab Emirates (UAE).
The application of the United Nations Convention on Contracts for the International Sale of Goods is hereby expressly excluded.
5. Dispute Resolution
Any dispute arising out of or in connection with this agreement, including any question regarding its existence, validity, or termination, shall be referred to and finally resolved by:
- Mediation: Parties agree to attempt to resolve the dispute through good-faith mediation within thirty (30) days of notice.
- Arbitration: Failing mediation, the dispute shall be referred to arbitration under the Arbitration Rules of the Dubai International Arbitration Centre (DIAC).
- Language: The language of the arbitration shall be English.
- Seat: The seat of arbitration shall be Sharjah, UAE.
Last Updated: March 15, 2024
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