Terms & Conditions

Please Read Carefully — This Agreement controls the terms under which the Bullion Accumulator is operated by PM Accumulator Sdn Bhd

IN CONSIDERATION of the following terms and conditions, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

  1. Definitions.
    Seller” shall be the PM Accumulator Sdn Bhd (Company no: 988177-U), its directors or officers (hereinafter “PMA”, “We”, “Us” or “Our”) that are duly authorized to buy and sell physical Bullion.

    Bullion” shall be the commodity of pure SILVER in physical form that PMA shall now or may hereafter offer for sale to buyers in its ordinary course of business.

    Business Days” shall be the normal work days Monday through Friday inclusive, except weekends and public holidays.

    Buyer” shall mean the person buying the Bullion from the Seller.

    Member” shall mean a Buyer that has agreed to join the membership Programme known as MSA My Silver Accumulator or MGA My Gold Accumulator as defined herein (collectively referred to as the Programmes)

    “MSA” My Silver Accumulator is a membership Programme that buys physical silver based on monthly standing instructions from the Buyer.

    “MGA” My Gold Accumulator is a membership Programme that buys physical gold based on monthly standing instructions from the Buyer.

  2. Bullion Market Price and Availability Change Constantly / PMA Sets Bullion Sale Price. The parties agree that the Bullion we offer for sale are commodities traded on various world markets, and that the market price and availability of such types of bullion change constantly with supply and demand. PMA alone shall set the bullion sale and purchase price for all bullion that we offer.
  3. Bullion Trading by Website (bullionx.my) or In-Person Sales at PMA’s Office Only.  All bullion trading done by us shall be done only by website or in-person sales at PMA’s office.  We do not accept or conduct any bullion transactions through any other means other than by website or in-person sales at our office.
  4. Minimum Order Sizes. We may set various minimum order sizes for bullion products to achieve economies of scale, minimize shipping and handling charges, or for other business purposes.  All website orders must comply with the minimum order size.
  5. Placement of Order Creates a Binding Agreement. The parties agree that PMA are a reputable bullion dealer in the bullion market with the substantial need to maintain our good name and competitive position.  The parties agree that your placement of a bullion order with us creates a binding legally enforceable agreement in which you agree to purchase your ordered bullion subject to such limits to order that may be imposed by PMA from time to time.  You shall not cancel any order before making payment in full.
  6. E-mail and Regular Mail Order Confirmation and Invoice / Buyer to Allow E-mails from PMA. After you’ve placed your website order, we will send you a note confirming your order and an invoice via e-mail or regular mail.  PMA reserves the right to reject such orders that does not comply with the terms and conditions herein without having to assign any reason thereto. Failure by you to receive any of these does NOT invalidate or otherwise cancel your order with us and you are still obligated to pay for your bullion order in full and on time. You shall take all steps necessary, including updating address books and adjusting spam or junk-mail filters, to ensure that you can timely receive all e-mails from us, complete with any attachments, in furtherance of this Agreement.
  7. Credit Card Payment. We may accept your credit card payment for Easy Payment Plan to purchase bullion in a specific webpage within our website. Purchase of bullion through credit card payment will not fall under the Monthly Accumulation Plan (both MSA and MGA), and therefore will not be entitled the 1/12 bonus for cumulative purchase of all bullion within the 12 months cycle. Purchase through credit card payment may require stringent scrutiny from the acquiring bank, and therefore it may be subject to unexpected long delay or outright rejection. The Buyer is responsible to verify with their credit card issuing bank for any issues pertaining to the credit card transaction.
  8. Recording of Order. You consent and agree that we may keep an audio or other recording of your order to verify the terms of your purchase, aid in training, auditing or quality control, comply with any laws as now exist or may hereafter exist, or for any other reason reasonably related to the business of dealing in bullion.
  9. Payment / Holding Times. Payment shall be in Ringgit Malaysia (RM) only.  Once you have placed your order with PMA, you are obligated to pay PMA in full by Bank Telegraphic Transfer / 24 Hour Hold— Any payment made by bank wire transfer must be received within three (3) business days of placing your order.  Once received by us, there is a 24 hour (one business day) hold on your order while your bank wire transfer clears the banking system.  Credit cards are NOT accepted, except for Easy Payment Plan purchase within a specific webpage in our website, and the purchase is not part of the MSA or MGA Programmes.In the case of MSA or MGA Programmes, payment by bank wire must be made within 3 working days after the date of our monthly invoice send through email.
  10. Payment to PMA.  To PMA’s banking account with Maybank Account no: 512763601016.
  11. Shipping Time / Shipping Charges / Order Confirmation.  Our policy is to ship orders promptly AFTERyou have properly paid us.  However, reductions in inventory resulting from an increased demand for certain bullion products and other reasons may occasionally delay shipping.  If we are unable to ship your order within the delivery time represented to you at the time of purchase, we will inform you prior to the expiration of that period of time that we are unable to meet the delivery date, and you may buy-back your order and obtain a full payment at the prevailing market price at the time of liquidation (see also paragraph 12, Order Liquidation Policy).Nominal shipping charges by POS LAJU (or equivalent) shall apply for shipping within the MALAYSIA, and the Buyer shall at all times bear all risks for the shipment. Delivery by POS LAJU will usually take one to two working days for major cities and towns.In the Monthly Accumulation Programmes (both MSA and MGA), Buyer shall select his preferred shipping option via in our website which may include self-collection on the 10th.working days every month at Safe Deposit Box Sdn Bhd,C312 & C313, Centre Wing, Metropolitan Square, Damansara Perdana, 47820 Petaling Jaya, Selangor.
  12. Order Liquidation Policy.  As Buyer, when you place your telephone order, you enter into a binding contractual agreement with PMA and you are required to remit payment in full based on the prevailing market purchase price agreed upon at the time your order was placed.  Should you choose to buy-back your order prior to the date of delivery, PMA will liquidate your position based on the prevailing market purchase price at the time of buy-back. You will be liable for any difference in the event of market loss.  If the prevailing market price of the items has gone up since your order, PMA will pay you the higher prevailing market price for your items less our usual administrative costs.  However, in the event we are unable to ship your order by the date promised, we will contact you and give you the option of buying back your order based on the spot market price at that time or agreeing to wait an additional period of time for your order, which shall not be more than 30 days.
    1. Liquidation of Your Order. “Liquidation” shall mean converting your bullion order into cash, and it may be done in one of two following ways:

      1. Voluntary Liquidation of Your Order (aka “Buy-Back” of Your Order).  At any time after you have fully paid for your order, even if it is before you’ve received delivery of your bullion, you can sell your order back to us at buyback price as stipulated in our website: bullion.my and we shall use our best efforts basis to re-purchase the same from you.
        As required by law, we hereby state in clear terms as follows: WE ARE NOT OBLIGED IN LAW AND WE DO NOT AT ANY TIME GUARANTEE THAT WE WILL BUY BACK ALL ORDERS.
      2. Involuntary Liquidation of Your Order for Non-Payment.  If you fail to make payment in full and on time as stated herein, we shall be entitled at our discretion proceed to cancel and liquidate your bullion order at any time after the 11th business day after your order date.  We will send you an invoice on liquidation charges depending on how the market has changed since you placed your order. Market loss or gain is calculated as the difference between your original purchase price, and the bullion London Fix closing price on the 11th business day after your order date.
        1. If the bullion market has gone up since you placed your order:  You pay PMA a sum of RM75.00 as agreed cancellation fee and you will not benefit from any gain in the market; OR
        2. If the bullion market has gone down since you placed your order:  You pay PMA a sum of  RM75.00 as cancellation fee plus  a further sum equivalent to the market loss on your order computed at the closing price for your bullion on the London Metals Market Fixing for the 11th business day after you have placed your order.
  13. In the Monthly Accumulation Programme for MSA or MGA, monthly invoice for the monthly silver purchase/subscription will be sent to Member at the beginning of the month, and payment is due within 3 working days from date of Invoice (Payment Due Date). If payment is not made within ten (10) days of the Payment Due Date, the membership of Member will be deemed cancelled for failing to fulfil the terms and conditions of the Monthly Accumulation Programme for MSA or MGA and similarly the Member will not be entitled to the one twelfth (1/12) silver bonus accumulated up to that month of cancellation in the 12 months’ cycle period.
  14. Reservations of Right:In addition to the other rights hereunder, we reserve the following rights unto ourselves:
    1. Right to Refuse Service to Anyone. PMA operates a strict membership screening process and we reserve the right to decline to sell/transact with anyone without having to assign any reason whatsoever.
    2. Right to Correct Erroneous Orders. We reserve the right to correct any order for obvious errors or computer-related problems.  We will make a good faith effort to notify you of any correction of your order.
    3. Right to Cancel Any Pending Sales. We reserve the right to cancel any pending sale at any time for any reason.  If we exercise this right, we shall cancel your order, including delivery of your bullion, and we shall notify you and refund you all monies you may have paid to us on your order, less any costs and fees associated with cancelling your order.
    4. Right to change Bullion Terms of Sale. We reserve the right to change this Agreement at any time without notice.
    5. Right to Accept or Reject Any Late or Defective Payment After Market Comparison.  We reserve the right to either, (1) accept any late or defective payment, including liquidation payments, after a market comparison to determine what is most advantageous for us, or (2) reject any such late or other defective payment, including liquidation payments, that do not comply with the terms of this Agreement.
    6. Right to Withhold Shipment for Unpaid Multiple Orders / Right of Offset.  In the event you place multiple orders with us and pay for one or more orders, but fail to properly pay for other orders, we reserve the right to withhold shipment on any paid orders, until the unpaid orders have been resolved to our satisfaction, including the Right of Offset. The “Right of Offset”, shall mean our right to apply any customer’s paid order’s proceeds and product against any of that customer’s other unpaid order’s proceeds and product.  If the customer shall thereafter have a net balance owed to us, we may thereafter at our discretion liquidate the remaining net balance owed as provided herein.  If the customer shall have a net balance remaining for shipment, then we shall ship the remaining portion of the order as provided herein.
  15. Monthly Accumulation Programme (“MAP”) for MSA or MGA.  Subject to our final approval, you may request to participate in our Monthly Accumulation Programme (hereinafter “MAP”) whereby on the same day each month you may automatically purchase either a pre-determined quantity of your chosen bullion product(s).  The following provisions apply to our MAP:
    1. Fixed-Quantity MAP.  Under the Fixed-Quantity MAP, you designate the specific monthly quantity of your chosen bullion product that you want us to buy for you on our chosen day each month.  We will automatically purchase that quantity of designated bullion products for you on that same working day each month that we have set.  We will send you an e-mail with your invoice attached following your day of purchase.  You warrant and agree that under this Programme you understand each of the following:  (1) That bullion market prices fluctuate constantly; (2) That our premiums on bullion products are based on bullion market prices, thus as bullion market prices fluctuate so do our premiums for bullion products; (3) That you will pay the premium we have set [as indicated on our bullion website] for your particular bullion product that exists as of the date of your monthly purchase; and (4) That under the Fixed-Quantity MAP, the monthly quantity you purchase will not vary from month-to-month, if you do not make changes in the prior month (subject to minimum of 1oz); but both the per-unit price, and the total price you pay will vary from month-to-month.
    2. MAP Member to Provide All Necessary Information.  You agree to provide us all information necessary for us to make your designated purchases for you, which includes immediately notifying us of any changes in your information.  At a minimum, this necessary information shall include the following: (1) Your name, shipping address, current telephone number(s), e-mail address(es); (2) The specific bullion product you want us to purchase for you each month; (3) In the case of a Fixed-Quantity MAP, the specific quantity of designated bullion product you want us to buy for you each month.
    3. Standard-Size Units & Quantities.  All MAP bullion products shall be in standard commercial sizes only, as shown in our website. PMA reserves the right to cancel or refuse any orders or impose pre-payment conditions to orders where the amount is deemed excessive or “too large”.
    4. MAP Bullion Pricing.  All MAP bullion pricing shall include a premium set solely by PMA, and shall be based on the end of the day (afternoon, if applicable) London Fix posted by the London Bullion Market Association, and the exchange rate will be based on Maybank’s consumer’s exchange rate.
    5. MAP Confirming E-mail / MAP Invoices.  Within one business day after MAP member’s monthly instalment date, we shall send MAP member an e-mail confirming MAP member’s monthly purchase, which shall include an attached invoice showing MAP member’s purchase for that month.  Such invoice shall be in the same manner as PMA normally invoices all other customers.  If for any reason MAP member should not receive their confirming e-mail or invoice, upon a telephone call or e-mail to us of such, we shall re-send such confirming e-mail or invoice to MAP member.  Entry (or monthly purchase thereafter) into our MAP is not dependent upon your receipt of any confirming e-mail or invoice.
    6. Payment.  Each MAP member agrees to make each monthly payment in full and on time as provided elsewhere in this Agreement, and that any monthly order that is not paid on time shall be involuntarily liquidated and result in the member being removed from the MAP Programme after 11days from the payment due date.
    7. Changes to MAP / Termination.  No changes to any member’s MAP shall be effective unless in writing.  PMA may terminate any MAP member with a valid reason such as member immediately upon written notice to the MAP member’s address or e-mail address last known to PMA.  Any MAP member may terminate their MAP participation only upon written notice to PMA provided at least seven (7) calendar days prior to that member’s next monthly instalment date and subject to the Member settling all outstanding sums due to PMA.
    8. Member’s Warranties.  In addition to other warranties provided herein, each MAP member warrants to PMA that he/she has full power and authority to enter into our MAP and intends to be fully bound by the terms hereto.  Each MAP member further warrants and agrees to execute any document necessary to confirm such authority immediately upon request by PMA, or its authorized agents and representatives.
  16. Computation of Time. Unless some other time counting mechanism is expressly stated herein, the first day for computing the time period shall be the first business day after the respective transaction.  If the last day shall fall on a weekend or federal holiday, or any day the London Metals Market Fixing is closed, then the last day shall be moved forward in time to the first day that is not a weekend, federal holiday or any day the London Metals Market Fixing is closed.
  17. Controlling Laws. This Agreement shall be construed under the laws of the Malaysia.
  18. Limitation of Liability. Our liability for any bullion sale shall not exceed the amount actually paid by you for the bullion, less the fair market value of such bullion.  We shall not be liable for indirect, incidental, additional, punitive, exemplary or consequential damages, even if we have been advised of the possibility of such damages.  We shall not be liable for any delays or failures in the transmission, receipt or execution of orders, payments, deliveries or information due to the incapacity or failure of computer or communications equipment or facilities which are outside our control.
  19. Force Majeure. Any prevention, delay or stoppage in our performance of any term hereto due to strikes, lockouts, labour disputes, acts of God, inability to obtain labour or materials or reasonable substitutes therefore, governmental restrictions, regulations or controls, the suspension by commodity exchanges in the trading of gold, silver, platinum or palladium futures contracts or the delivery of the commodities underlying such contracts, or the failure or delay of vendors,  enemy or hostile governmental action, riot, civil commotion, fire or other casualty, and other causes beyond our control, shall excuse our performance, and extend our performance of our duties and responsibilities hereunder, for a period equal to any such prevention, delay or stoppage.
  20. Complete Agreement. This Agreement constitutes the complete and final expression of the agreement between the parties relating to the sale of bullion, and supersedes all prior or contemporaneous contracts, agreements, understandings and representations of the parties, either oral or written, relating to the sale of bullion.
  21. Costs / Attorney Fees.  If either party shall retain an attorney to enforce their rights hereunder, the prevailing party shall be entitled to recover all reasonable costs, expenses and attorney fees.
  23. Assignment.  We may assign or transfer any of our rights, duties and responsibilities hereunder, or any interest therein, without notice to you to any entity controlled by us.  You may assign or transfer any of your rights, duties and responsibilities only upon prior written notice to us, and provided that you shall not be relieved of any liability under this Agreement pursuant to such assignment or transfer.
  24. Written Modification / Waiver of Terms.  We reserve the right to modify or amend the terms of this Agreement at any time without notice.  You shall not modify or amend the terms of this Agreement except by prior written agreement with us.
  25. Binding Effect.  Each and every provision of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, personal representatives, successors and assigns, subject at all times to all provisions and restrictions elsewhere in this Agreement.  Except as expressly provided herein, nothing in this Agreement is intended to confer on any person, other that the parties hereto and their respective heirs, personal representatives, successors and assigns, any rights or remedies under or by reason of this Agreement.
  26. Plural / Singular and Gender.  Unless some other meaning and intent are clearly apparent from the context herein, the plural shall include the singular, and the singular shall include the plural; and masculine, feminine and neuter words shall be used interchangeably.
  27. Captions.  The captions shown in this Agreement are for convenience or reference purposes only, and shall not, in any manner, be utilized to construe the scope or intent of any provision hereof.
  28. Invalid Provisions.  If any provision of this Agreement, or the applicability of any such provision to a specific situation, shall be held invalid or unenforceable by a Court or adjudicating body of competent jurisdiction, such provision shall be modified to the minimum extent necessary to preserve the intent and spirit of this Agreement, and to make it or its application valid and enforceable, and the validity and enforceability of all other provisions of this Agreement and all other applications of any such provision shall not be affected thereby.
  29. Time of Essence.Time is of the essence in this Agreement.