GIGR definition
GIGR shall deliver the Precious Metals specified in Customer’s order to a suitable delivery service for delivery to Customer no more than twenty-eight (28) days after “GIGR” verifies that the Purchase Funds provided are backed by good funds, and the order confirmation is available(Please note that it may take 12 business days to verify bank checks.)
GIGR shall have no responsibility or liability for any damage or loss resulting from the client(s) dealings with that ▇▇▇ custodian. Client understands that “GIGR” does not recommend that clients invest more than thirty percent (30%) of their retirement portfolio into precious metals. It is the client(s) who is responsible for deciding the proper amount of precious metals they would like to acquire in their ▇▇▇ Account. “GIGR” takes no responsibility on the decided amount to invest into the ▇▇▇ account. Tax laws are very complex and may change at any time. The client takes the responsibility and agrees to consult with their tax advisor in regard to any questions on purchases of precious metals whether inside of an ▇▇▇ or outside of an ▇▇▇ account. “GIGR” employees a r e not tax advisors, and are not authorized to provide tax advice to the customer(s).
GIGR s sales representatives are commissioned salespersons – i.e., their salary is based, at least in part, on the amount and profit margin of the Precious Metals they sell. In addition, from time to time, “GIGR”’s sales representatives may receive other compensation tied to sales activity – e.g., sales contests; bonuses tied to the sale of certain denominations/types or grades of Precious Metals. “GIGR”’s sales representatives are not licensed and their knowledge of Precious Metals and the Precious Metals marketplace varies markedly. The client also authorizes “GIGR” to contact the customer in reference to a signed agreement regardless of whether any of their phone numbers are on a “Do Not Call List”, unless the client notifies “GIGR”.
More Definitions of GIGR
GIGR represents and warrants that, upon the delivery of Purchase Funds, and subject to the other terms and restrictions set forth in this Agreement, “GIGR” will cause the order to be delivered to Customer, in the denomination/type and grade of Precious Metals specified in Customer’s order, as classified and/or graded by one of the following independent grading services: Professional Coin Grading Service, Inc.(“PCGS”), Numismatic Guaranty Corporation of America(NGC), or any other independent grading service of similar standing. The only representation and warranty that Customer may rely upon in purchasing Precious Metals from or selling Precious Metals to “GIGR” is the representation set forth in the specified order confirmation. Neither “GIGR”, nor any of its officers, agents, employees, sales representatives, or other representatives are authorized to make any other representations or warranties concerning any Precious Metals that “GIGR” is selling or purchasing under this agreement.
GIGR nor the client shall be liable for any failure or delay in its or their performance under this Transaction Agreement due to any cause beyond its or their respective reasonable control, including acts of war, terrorism, acts of God, earthquake, flood, embargo, riot, sabotage, labor shortage or dispute, governmental act or failure of the Internet including, but not limited to, any disruption, failure and/or error in or of “GIGR”’s internal computer systems, or any disruption, failure and/or error in or of any third-party Internet service providers as “GIGR” may use from time to time.
GIGR may charge a shipping and handling fee for any transaction related in any way to this agreement, which will be disclosed atthe time of the purchase.
GIGR is not a grading service. “GIGR” does not independently assess the Precious Metals it purchases for re-sale, but relies upon the opinions and assessments of independent grading services such as Professional Coin Grading Service, Inc.(PCGS), Numismatic Guaranty Corporation of America(“NGC”). Grading is a subjective process and it is not uncommon for grading services, or individual examiners within the same grading service, to reach different conclusions regarding the appropriate grade for a particular Precious Metal. Moreover, grading standards are constantly evolving. “GIGR” does not guarantee that the Precious Metals it sells will achieve the same grades in the future. “GIGR” does guarantee that the precious metals or other items it sells are genuine. If Customer refuses to accept delivery of the Precious Metals ordered or fails to make payment when due, “GIGR”, in its sole discretion, may cancel the transaction and resell such Precious Metals on a wholesale basis. If the proceeds from such resale are less than the contract price with Customer, “GIGR” shall be entitled to recover from Customer the difference between the resale price and Customer’s contract price, plus any incidental damages occasioned by Customer’s breach. If the proceeds from such resale are more than the contract price with Customer, “GIGR” shall be entitled to keep the excess amount as liquidated damages – actual damages being too speculative to calculate at this juncture.
GIGR s classification of Precious Metals is only an opinion and may change over time (e.g., if additional quantities of the Precious Metal are discovered). In addition, given the subjective nature of the classification process, other dealers or investors may classify the same coin differently. “GIGR”'s prices and spreads are based on its classification determination. Currently at the time this agreement was submitted for Customer’s signature, “GIGR”’s Spread on bullion (i.e., coins and bars that generally move in tandem with the spot price for the relevant commodity) was generally between two percent and ten percent (2% to 10%), and, “GIGR”’s Spread on semi-Numismatic and Numismatic coins and bars was generally between six percent and nineteen and three quarter percent (6 to 19.75%), and a typical spread was approximately nineteen and one three quarter percent (19.75%). These numbers are only approximations, and represent a general range and a typical transaction. The actual Spread on any particular transaction could have been any amount within those ranges (or even possibly outside those ranges). For example, if a bullion coin or bar was quoted by “GIGR” at $250, and included a ten percent (10%) spread, “GIGR”’s cost for the bullion coin or bar would be $225. Similarly, if “GIGR” quoted a Numismatic coin or bar at $250, and included a nineteen and three quarter percent (19.75%) spread, “GIGR”’s cost for that coin would be approximately $201.
GIGR s prices and spreads are based on its classification determination. Currently at the time this agreement was submitted for Customer’s signature, “GIGR”’s Spread on bullion (i.e., coins and bars that generally move in tandem with the spot price for the relevant commodity) was generally between two percent and ten percent (2% to 10%), and, “GIGR”’s Spread on semi-Numismatic and Numismatic coins and bars was generally between six percent and nineteen and three quarter percent (6 to 19.75%), and a typical spread was approximately nineteen and one three quarter percent (19.75%). These numbers are only approximations, and represent a general range and a typical transaction. The actual Spread on any particular transaction could have been any amount within those ranges (or even possibly outside those ranges). For example, if a bullion coin or bar was quoted by “GIGR” at $250, and included a ten percent (10%) spread, “GIGR”’s cost for the bullion coin or bar would be $225. Similarly, if “GIGR” quoted a Numismatic coin or bar at $250, and included a nineteen and three quarter percent (19.75%) spread, “GIGR”’s cost for that coin would be approximately $201.
GIGR is a seller and purchaser of Precious Metals. While “GIGR” is always prepared to compare and contrast the different Precious Metals that are available for purchase or that “GIGR” is willing to purchase, Customer acknowledges and agrees that (a) no fiduciary relationship exists between “GIGR” and Customer, (b) the decision to purchase or sell Precious Metals, and which Precious Metals to purchase or sell, are the Customer’s decision alone, and (c) purchases or sales are made subject to Customer’s own prudence and judgment. In “GIGR”’s opinion, Precious Metals should be considered a long-term investment. Customer should be prepared to hold any Precious Metals purchased – whether from “GIGR” or elsewhere – for at least a three to five year period, and preferably five to ten years, to maximize the potential for gains. In “GIGR”’s opinion, Customer should only invest capital that can be held for at least this period of time. However, Precious Metals, like all investments, carry capital risk. Precious Metals may appreciate, depreciate, or stay the same depending on a variety of factors. “GIGR” cannot guarantee, and makes no representation, that the Precious Metals will appreciate at all or appreciate sufficiently to make Customer a profit at the expiration of this or any other period of time. In “GIGR”’s opinion, Customer should not invest more than thirty percent (30%) of Customer’s available investment funds in Precious Metals. Moreover, Precious Metals do not yield income and thus are not an appropriate investment vehicle for investors seeking current or future income. The success of an investment in Precious Metals is dependent, in part, upon extrinsic economic forces including but not limited to supply, demand, international monetary conditions, and inflation or the expectation of inflation. The impact of these forces on the values of Precious Metals in general or any particular Precious Metal cannot be predicted. Customer acknowledges that the Precious Metals market can be volatile and that Precious Metal prices may rise or fall over time. Customer further acknowledges that past performance is no guarantee of future performance. “GIGR” does not provide tax, investment, or legal advice or advisory services, and no one associated with “GIGR” is authorized to provide any such advice or services. Any written or oral statements by “GIGR”, its officers, agents, sales representatives, or other representatives relating to future events or the attributes of certain...