General terms and conditions

The following General Terms and Conditions (hereinafter "GTC") serve to clearly regulate the mutual relationships between customers and BB WERTMETALL AG, registered office in Lenzburg, business address (Service Center): Grenchenstrasse 5 b, CH-2504 Biel / Bienne (hereinafter "BB Wertmetall AG").

1.1 These GTC apply to all business relationships between BB Wertmetall AG and its customers. The subject matter of the business activity includes in particular the purchase, sale, brokering and custody of the precious metals silver and gold, which are referred to below, and in forms and publications, as "valuable metals".

1.2 For individual types of business and products, the other basic documents of BB Wertmetall AG apply in addition, namely the terms of order, delivery and payment, the contractual terms for collective custody and the data protection information for contracts, as well as product-specific special terms (namely for the products S-Deposito, G-Deposito and Haggai-Konstantplan). Existing special terms take precedence over these GTC, unless they have a merely supplementary effect. The Haggai-Wertkauf, including the security deposit, is fully governed by Parts I to IV of the basic documents; there are no special terms for it.

1.3 A "private customer" (consumer) within the meaning of these GTC and the other parts of these basic documents is any natural person who concludes a legal transaction for purposes that cannot be attributed predominantly to either their commercial or their self-employed professional activity.

A "business customer" (entrepreneur) is any legal entity under private or public law and any partnership with legal capacity – irrespective of whether it operates commercially, for non-profit purposes or exclusively for asset management, in particular also associations, foundations, cooperatives as well as holding and other companies –, and also any natural person who, when concluding the legal transaction, is acting in the exercise of their commercial or self-employed professional activity. Mandatory statutory provisions that are linked to a different definition of consumer remain reserved.

1.4 All references to persons apply equally to all persons. For reasons of better readability, the simultaneous use of several linguistic forms is dispensed with.

2.1 The customer service of BB Wertmetall AG can be reached as follows: Email: service@bb-wertmetall.ch
Telephone: 0041 (0)62 892 48 48
Post: BB Wertmetall AG
Grenchenstrasse 5 b, CH-2504 Biel / Bienne Website: https://bb-wertmetall.ch/
Availability: Monday to Friday 8:30 a.m. to 12:00 noon
1:00 p.m. to 5:30 p.m.
Subject to any changes, in accordance with https://bb-wertmetall.ch/#kontakt.

3.1 The signature or authorised-signatory arrangement notified to BB Wertmetall AG in writing applies exclusively in relation to it and until written revocation addressed to it, notwithstanding any commercial register entries and publications to the contrary.

3.2 The damage resulting from failure to detect defects in identification and forgeries is borne by the customer, to the extent permitted by law.

3.3 The customer bears any damage arising from a lack of legal capacity of their own person or of third parties.

4.1 Notices from BB Wertmetall AG are deemed to have been given when they have been sent to the postal or email address most recently provided by the customer. The customer consents to information being sent to their email address instead of their postal address. The date of the copies or dispatch lists held by BB Wertmetall AG, as well as publication on the website, is presumed to be the time of dispatch.

4.2 Complaints by the customer regarding the execution or non-execution of orders of any kind, or objections to invoices and other notices, must be raised in writing or by email immediately after receipt of the relevant notice, but no later than within 10 days; otherwise the execution or non-execution and the corresponding statements, account closings, settlements, notices and communications are deemed approved. The deemed approval presupposes that BB Wertmetall AG has specifically drawn attention to this legal consequence and the time limit in the respective notice or communication. The customer may also request correction of incorrect statements or settlements after the time limit has expired; in this case the burden of proof for the inaccuracy lies with the customer.

4.3 If an expected notice is not received, the objection must be made as soon as the notice should have reached the customer in the ordinary course of business and normal postal delivery. In the case of a late complaint, the customer bears the resulting damage.

5.1 The damage arising from the use of post, telephone, the internet or email, in particular from loss, delay, misunderstandings, corruption or duplicate copies, is borne by the customer, unless BB Wertmetall AG is guilty of gross negligence.

5.2 If damage arises as a result of non-execution or defective execution of orders, BB Wertmetall AG is liable only for loss of interest, unless it was made aware in the individual case of the imminent risk of greater damage. Any further liability is excluded to the extent permitted by law.

6.1 BB Wertmetall AG accepts goods made of valuable metals that it has traded for collective custody. The detailed provisions are set out in the contractual terms for collective custody (Part III of these basic documents).

6.2 If the depositor receives goods back from collective custody, they must report any complaints immediately. The confirmation of receipt releases BB Wertmetall AG from any liability to the extent permitted by law.

7.1 With regard to data protection, the data protection information for contracts (Part IV of these basic documents) and the privacy policy on the website of BB Wertmetall AG (https://bb-wertmetall.ch/datenschutz/) apply. The customer confirms that these documents have been made accessible to them and that they have taken note of them.

8.1 BB Wertmetall AG reserves the right, in the context of outsourcing business areas, to have services performed by third parties, in particular in the areas of electronic data processing, identification, electronic signature, customer service, logistics and the safekeeping of assets, including by its subsidiary BB Wertmetall GmbH, Arno-Nitzsche-Strasse 45A, DE-04277 Leipzig, and by PXL Vision AG, Zurich (online identification and qualified electronic signature, https://pxl-vision.com).

8.2 BB Wertmetall AG and BB Wertmetall GmbH cooperate closely in handling customer relationships, in particular in identification, electronic signature, customer service, contract administration, logistics and newsletter dispatch, and transmit to each other the customer data required for this purpose. BB Wertmetall AG also carries out online identification and the qualified electronic signature (QES) for BB Wertmetall GmbH and its customers. Details are governed by the data protection information for contracts.

9.1 BB Wertmetall AG may terminate existing business relationships with immediate effect for good cause; any claims then become immediately due for payment.

9.2 Good cause exists in particular if
a) the customer does not pay an invoice despite a reminder with the setting of a reasonable grace period;
b) the customer does not comply with their obligations to cooperate under the Anti-Money Laundering Act or further contractual obligations to cooperate and provide information despite a written request with a reasonable grace period, in particular does not provide the required forms, proof of identity or proof of origin, or information provided by the customer proves to be incorrect;
c) the continuation of the business relationship becomes impermissible or unreasonable for BB Wertmetall AG on the basis of statutory or official requirements, in particular anti-money laundering or sanctions legislation;
d) the customer does not provide cooperation, a declaration or information required for the proper performance or processing of a contract despite two written requests, each with a reasonable grace period and reference to the consequence of termination, and the performance of the contract is thereby rendered impossible or unreasonably difficult; or
e) the customer permanently disrupts the relationship of trust through their conduct, in particular by repeatedly insulting or threatening employees of BB Wertmetall AG or by publicly disparaging BB Wertmetall AG or its employees through untrue or defamatory statements of fact, such that continuation cannot reasonably be expected of BB Wertmetall AG in good faith. Objective criticism, in particular in public reviews, remains open to the customer.

9.3 Mandatory statutory requirements, in particular those of the Anti-Money Laundering Act, remain reserved. Processing is governed by the respective contractual and special terms; a waiver by BB Wertmetall AG of an ordinary right of termination in special terms is not affected by this clause.

10.1 In all business dealings with BB Wertmetall AG, Saturdays are treated as equivalent to a state-recognised public holiday.

10.2 German public holidays are also treated, in all business dealings with BB Wertmetall AG, as equivalent to a state-recognised Swiss public holiday.

11.1 BB Wertmetall AG reserves the right to amend these GTC and the other basic documents at any time with effect for the future in the case of continuing obligations, if
a) the amendment serves to ensure compliance with applicable law, in particular if the applicable legal situation changes,
b) the amendment serves to implement mandatory court or official decisions,
c) entirely new services or service elements as well as technical or organisational processes require a description in the basic documents or
d) the amendment is merely advantageous for the customers.

11.2 BB Wertmetall AG will notify the customer of amended basic documents at least six weeks before they come into force, at the email address provided by the customer. If the customer does not object within six weeks of receipt of the notification, the amended basic documents are deemed accepted. With the notification, BB Wertmetall AG will inform the customer of the consequences of failing to object.

12.1 For special types of business, special agreements between BB Wertmetall AG and the customer may also apply in addition to these basic documents.

13.1 Should individual provisions of these GTC or the other basic documents be or become invalid, the remaining content and its validity shall remain unaffected. The contracting parties shall replace the invalid provision with a valid provision that comes as close as possible to the intended economic purpose of the invalid provision. The same applies to any gaps in the provisions.

13.2 The basic documents are drawn up in German and may be translated into other languages. Only the German version is legally binding; versions in other languages are for information purposes.

14.1 All legal relationships of the customer with BB Wertmetall AG are governed by Swiss substantive law, excluding the conflict-of-laws rules and the United Nations Convention on Contracts for the International Sale of Goods (Vienna Convention).

14.2 Mandatory provisions for the protection of consumers of the state in which the consumer has their habitual residence remain reserved, to the extent that they are applicable by law.

15.1 The place of jurisdiction is determined in accordance with the mandatory statutory provisions, in particular the mandatory places of jurisdiction for consumers (including the Lugano Convention). Where these do not apply, the exclusive place of jurisdiction for all types of proceedings is Lenzburg, Switzerland; Lenzburg is at the same time the place of performance and the place of debt enforcement for customers not domiciled or based in Switzerland. However, BB Wertmetall AG also has the right to take action against the customer before the competent court or authority at their place of domicile or registered office or before any other competent court.

PART II OF THE BASIC DOCUMENTS (as of 09/2026)

BB WERTMETALL AG (hereinafter "BB Wertmetall AG") offers its customers the opportunity to buy and sell valuable metals. The following terms of order, delivery and payment govern these transactions.

1.1 These terms of order, delivery and payment apply to sale, purchase and brokering offers of BB Wertmetall AG. Existing product-specific special terms (namely for the products S-Deposito, G-Deposito and Haggai-Konstantplan) take precedence over these terms, unless they have a merely supplementary effect; special contractual agreements remain reserved. Otherwise, the General Terms and Conditions (GTC) and the data protection information for contracts apply.

2.1 The sale and purchase offers of BB Wertmetall AG are non-binding and subject to change. The customer (buyer or seller) declares their purchase or sale in text form (letter, email) or via an electronic application process. A contract is concluded only when BB Wertmetall AG sends the customer a declaration of acceptance; the order confirmation or the delivery of the invoice or credit note counts as a declaration of acceptance.

2.2 Ordered items are owed as defined by type; should an item no longer be available, an item of equivalent quality and price will be delivered.

2.3 A sale request for silver and gold products may also be executed by BB Wertmetall AG by brokering to third parties. To that extent, a greater delay before execution is permissible.

2.4 Application documents may be signed by hand or by means of a qualified electronic signature (QES). The QES is equivalent to a handwritten signature (Art. 14 para. 2bis CO). Online identification and the QES are handled via the identification service provider PXL Vision AG, Zurich (https://pxl-vision.com); the identification component used is certified in accordance with the eIDAS Regulation, the Swiss ZertES and the standard ETSI TS 119 461. The QES is issued by a recognised provider of certification services within the meaning of ZertES or a qualified trust service provider (QTSP), who is disclosed to the customer in the course of the signing process; the terms of use of PXL Vision AG additionally apply to the use of the identification web app. For electronic signing, a separate signature page may be used, with which all documents listed in the application package are signed together; in this case the QES applies to the entire application package.

3.1 As a financial intermediary within the meaning of Art. 2 para. 3 of the Swiss Anti-Money Laundering Act, BB Wertmetall AG is subject to its relevant provisions. The customer is legally obliged to submit all necessary information and documents, in particular form A (establishment of the beneficial owners), for companies form K, as well as identification of all relevant persons (certified copy of ID, passport or driving licence, online identification via the service provider PXL Vision, ID certification by a notary or authority, identification at a financial intermediary or identification at the Service Center of BB Wertmetall AG). One-off purchases of medals (Haggai-Wertkauf) below CHF 15,000 per year are excluded.

3.2 From an investment framework or total investment across all products of BB Wertmetall AG of CHF 100,000 or more, in the case of politically exposed persons (PEP) or persons close to them, and in the case of connections to sanctioned countries, form E (clarification for business relationships with increased risk) must additionally be submitted.

3.3 When BB Wertmetall AG purchases goods, the customer is obliged to provide identification regardless of the transaction amount, unless BB Wertmetall AG already holds valid identification of the customer.

3.4 Until all necessary information and documents are available in full and correct, orders may not be processed.

4.1 Incoming payments for purchases are processed and executed by BB Wertmetall AG as quickly as possible; a delay of up to two trading days is permissible. Trading days are Monday to Friday; no trading takes place on public holidays in Switzerland and Germany. The regular trading deadline for the Haggai-Wertkauf (silver and gold medals) is 12:00 noon. For products with special terms (namely S-Deposito, G-Deposito and Haggai-Konstantplan), the regular trading deadlines result from the respective special terms.

4.2 For technical or organisational reasons, deviating trading deadlines and a postponement of up to two trading days compared to the original trading deadline are permissible.

5.1 Sale: The prices valid at the time of conclusion of the contract for sales transactions in CHF, EUR or USD, including the applicable statutory value added tax, are deemed agreed, unless a different agreement has been made.

5.2 Purchase / brokering: The prices valid at the time of conclusion of the contract for purchase or brokering transactions in CHF, EUR or USD are deemed agreed, unless a different agreement has been made.

5.3 Shipping and packaging costs, including insurance, taxes, duties, fees and customs charges, are borne by the customer in the case of purchase, sale and brokering.

6.1 The invoice amount is due and payable without deduction immediately upon the customer's receipt of the declaration of acceptance (order confirmation) or upon receipt of the invoice.

6.2 Payments are made by bank transfer, in Switzerland also by QR bill, or by set-off against due claims of the customer arising from barter trading with BB Wertmetall AG. Payments by credit card, cash or cheque are in principle not accepted, and direct debit is not offered; deviating agreements and special promotions remain reserved. Payments are deemed made only when BB Wertmetall AG can dispose of the amount without loss in its bank account.

6.3 If the customer does not pay an invoice for the purchase of silver or gold medals (Haggai-Wertkauf) within 5 value days of the due date, they are in default without a reminder. If the customer does not pay despite a reminder with the setting of a reasonable grace period, BB Wertmetall AG is entitled, after an unsuccessful reminder, to cancel the invoice and withdraw from the contract, even if the goods have already been delivered. In this case, the customer must reimburse BB Wertmetall AG for any price loss – that is, the difference between the price agreed on the trading deadline of the sale and the lower buy-back price applicable on the day of cancellation for the valuable metals concerned – as well as the expenses incurred, including reminder and cancellation fees. The customer remains entitled to prove that no damage or substantially less damage has occurred; the assertion of proven further damage, in particular lost profit, remains reserved.

6.4 In purchase transactions, the buy-back price becomes due after receipt and positive inspection of the goods, in particular as regards authenticity and recyclable condition. BB Wertmetall AG transfers the buy-back price to the account specified by the customer within 10 working days after completion of the inspection. If the inspection is negative, BB Wertmetall AG is entitled to withdraw from the contract or to offer a new purchase price; in this case the goods sent are returned to the customer, and the shipping costs are borne by the customer.

6.5 BB Wertmetall AG buys back silver and gold medals from the production of BB Wertmetall at the published buy-back conditions "Sale" only if they are resaleable pieces of the current minting and if BB Wertmetall AG has sufficient new purchase orders on the trading deadline. A delayed execution and a division of the buy-back quantity into partial executions on different trading deadlines are permissible. In other cases, BB Wertmetall AG submits an individual buy-back offer to the customer.

6.6 The customer may set off against claims of BB Wertmetall AG only with undisputed or legally established counterclaims; the set-off provided for contractually within the framework of barter trading (clause 6.2) remains reserved. The customer has a right of retention only to the extent that their claims arise from the same contractual relationship.

6.7 If BB Wertmetall AG becomes aware of circumstances that call the customer's creditworthiness into question, it is entitled to make the entire remaining debt immediately due and to withhold goods not yet delivered, or to demand immediate payment if a different method of payment was agreed.

7.1 The delivery dates stated in the order confirmation are non-binding guide values. Binding delivery dates must be agreed separately in writing. BB Wertmetall AG is entitled to make partial deliveries and partial performances at any time.

7.2 BB Wertmetall AG delivers only after receipt of the customer's payment (payment in advance), even if a delivery date has been agreed.

7.3 Immediately after payment by the customer, ownership of the purchased goods is transferred to the customer, irrespective of where the goods are located at that time.

7.4 Risk passes to the customer upon handover of the delivered item. If the customer refuses acceptance, the goods are deemed handed over at the time of refusal. If dispatch is delayed by more than 14 days at the customer's request, benefit and risk pass to the customer upon notification that the goods are ready for dispatch.

7.5 Handover may be replaced by BB Wertmetall AG keeping the goods in collective custody for the buyer. In this case, the acquisition of ownership is completed with the storage of the goods in a Swiss customs-free warehouse or Swiss high-security warehouse and the book transfer to the customer's depot. The contractual terms for collective custody apply.

7.6 Delivery is made fully insured via the post or a valuables transport company. The customer must be present at the delivery address all day on the day of delivery, since, for security reasons, an exact delivery time is not agreed. The same applies accordingly to the collection of goods (purchase).

7.7 If a delivery of goods fails for reasons for which the customer is responsible, the customer bears, to a reasonable extent, the costs incurred through dispatch and return as well as further delivery attempts.

7.8 The place of performance for purchased goods is the respective current business seat of BB Wertmetall AG or of the third parties commissioned by it. Papers belonging to the goods must be transmitted with them. The customer undertakes, insofar as BB Wertmetall AG does not have the goods collected itself, to send the goods adequately insured and in such a way that BB Wertmetall AG must acknowledge receipt. The sender bears the burden of proof for receipt of the consignment. The carrying out of the valuables transport has no effect on the place of performance.

8.1 Consumers (private customers) are entitled to the right of withdrawal in accordance with the legal system mandatorily applicable to them. For custody and depot contracts, BB Wertmetall AG grants these customers a right of withdrawal of 14 days from conclusion of the contract. The details are set out in the withdrawal notice in the respective application; the model withdrawal form is available at https://bb-wertmetall.ch/widerruf/.

8.2 Exclusion from withdrawal: There is no right of withdrawal, either in Switzerland or in the European Union, for contracts for the supply of goods whose price depends on fluctuations on the financial market, e.g. the commodity and foreign exchange markets, and over which the entrepreneur has no influence. With regard to the valuable metals sold by BB Wertmetall AG, there is therefore no right of withdrawal, irrespective of the customer's place of residence.

9.1 The customer and BB Wertmetall AG agree that neither BB Wertmetall AG nor the intermediary business partner carries out asset management on behalf of, in the name of or for the account of the customer. The purchase or sale of valuable metals is a commercial transaction. No performance promises regarding price development are owed.

9.2 The prices of valuable metals are subject to market-related fluctuations. Historical price developments are not a reliable indicator of future developments.

10.1 If compliance with deadlines or the execution of transactions is attributable to force majeure or to events that significantly impair the orderly business operations of BB Wertmetall AG, its suppliers or relevant service providers – such as state restrictions, mobilisation, war, riots, terrorist attacks, natural forces, strikes, lockouts, lockdowns, pandemics, border closures, large-scale power outages, internet outages or hacker attacks –, the deadlines are extended appropriately; sales are made as quickly as possible at the best possible prices after the existing options have been clarified. In such special situations, the price realised for the customer may deviate significantly from the published price, although BB Wertmetall AG endeavours to realise the best possible price. In the cases mentioned, there is no liability claim against BB Wertmetall AG.

10.2 BB Wertmetall AG falls into default of delivery only if no delivery has been made on the agreed delivery date and a written reminder has expired without success for more than 4 weeks. If delivery deadlines cannot be met due to bottlenecks on the international commodity markets or production and minting bottlenecks, this period is extended accordingly; BB Wertmetall AG informs the customer of such delays as quickly as possible. The default of delivery does not affect the prices agreed with the customer; these apply as agreed.

11.1 BB Wertmetall AG assures that the fineness and fine weight of the valuable metal products correspond to the information on the products or their packaging. Customary, permissible-under-quality-standards or minor deviations in dimensions, surface finish, minting design and the like are not defects. For goods defined by type, there is no entitlement to particular vintages, minting designs or packaging variants.

11.2 If the defect already existed at the time of handover of the item and the article was defined only by type, the customer is entitled – where still possible – to replacement delivery; if replacement delivery is not possible, the defective goods are taken back against reimbursement of the purchase price. Consequential damage is not reimbursed.

11.3 The customer bears the burden of proof for the defectiveness at the time of transfer of risk, for the material defect itself, for the time at which the defect was discovered and for the timeliness of the notice of defect. Obvious defects must be notified in writing within 10 days of receipt of the delivery, other defects immediately after discovery; otherwise they are deemed approved. Warranty claims for material defects become time-barred after 2 years from delivery of the goods.

11.4 Descriptions of properties by employees or sales partners – including in the course of preliminary discussions and information – do not entail any declaration of warranty or assurance of a property by BB Wertmetall AG.

12.1 If BB Wertmetall AG performs first, the delivered goods remain the property of BB Wertmetall AG until full payment of the purchase price and of all existing claims arising from the business relationship with the customer.

12.2 The customer is obliged to cooperate in measures required to protect the property of BB Wertmetall AG; in particular, upon conclusion of the contract they authorise BB Wertmetall AG to enter and register the retention of title in public registers at the customer's expense in accordance with the relevant national laws and to complete all related formalities.

13.1 To the extent permitted by law, the liability of BB Wertmetall AG for damage caused by slight negligence is excluded. Liability for the slightly negligent breach of contractual obligations whose fulfilment is essential for the proper performance of the contract remains reserved. Liability for intent and gross negligence as well as for personal injury remains reserved. BB Wertmetall AG accepts no liability for damage resulting from force majeure.

14.1 The General Terms and Conditions apply in addition, in particular their clauses 13 to 15 (final provisions, applicable law, place of performance and place of jurisdiction). The applicability of the Vienna Convention on the International Sale of Goods (CISG) is excluded.