Terms of Use

These Terms of Use ("Terms" / "Agreement") govern your access to and use of the Goldcart mobile application, website, and related services (collectively, the "Platform") operated by Goldcart Private Limited.

By registering, accessing, or using the Platform or any services offered by Goldcart Private Limited ("Goldcart", "Company", "we", "our", "us"), you agree to be bound by these Terms. If you do not agree, please do not access or use the Platform.

This document is an electronic record in terms of the Information Technology Act, 2000 and applicable rules thereunder, and does not require physical or digital signature.

1. Definitions

Unless the context otherwise requires:

• "User" / "You" / "Your" means any natural or legal person who accesses or uses the Platform, including registered and guest users.
• "Digital Gold Services" means services relating to purchase, sale, storage, and delivery of gold or silver facilitated through the Platform.
• "Business Partners" means banks, bullion providers, payment gateways, logistics partners, and other third parties engaged by Goldcart to deliver services.
• "Customer Gold" means the quantity of gold purchased by you through the Platform and stored on your behalf with the Custodian.
• "Account" means the user account created by you on the Platform, including any sub-accounts related to your profile.
• "Force Majeure Event" has the meaning given in Section 17 below.
• "Custodian" means the entity appointed by the Bullion Provider to hold and safekeep Customer Gold in secure vaults.
• "KYC" means Know Your Customer documentation as required under applicable Indian law.
• "Platform Services" means the technology intermediary and payment facilitation services provided by Goldcart.

2. Eligibility

By using the Platform, you represent and warrant that:

• You are at least 18 years of age and are competent to contract under Indian law, including the Indian Contract Act, 1872.
• You are an Indian citizen and currently resident in India, unless Goldcart expressly permits otherwise.
• You are using the Platform on your own behalf and not on behalf of any person without valid authorization.
• The information and documents provided by you (including KYC and Officially Valid Documents) are true, accurate, current, and complete.
• You are not impersonating any person or entity, or falsely stating your age or affiliation with any person or entity.
• You are not registered under the Goods and Services Tax Act, 2017. If your GST registration status changes, you must notify Goldcart immediately.
• You have the legal ability to purchase and sell gold and are capable of being bound by these Terms.
• If necessary, you shall seek independent tax advice. These Terms do not constitute investment or tax advice.

If you are the parent or guardian of a child under 18 years of age who is registering on the Platform, you agree to these Terms on their behalf and are responsible for their use of the Platform.

Goldcart reserves the right to terminate or suspend your access to the Platform if any eligibility condition is not met or ceases to be met.

3. Registration and Account

To use the services, you must register and create an Account on the Platform and provide accurate, current, and complete information. In this context:

• You are responsible for maintaining the confidentiality of your login credentials and for all activities that occur under your Account.
• You agree not to allow others to use your Account and you are fully responsible for all activities that occur under your Account.
• You agree to promptly update your KYC, contact details, and any other information whenever there is a change.
• By providing your personal information, you consent to receive all information, communication, and intimations from Goldcart electronically.
• You shall immediately notify Goldcart of any unauthorized use or breach of your password or Account, and ensure you exit your Account at the end of each session.
• Goldcart may also ask you for certain financial information, including billing address, bank account details, credit or debit card details, or other payment instrument details for processing payments.

If Goldcart believes any information provided by you is untrue, inaccurate, outdated, or incomplete, Goldcart reserves the right to suspend or terminate your Account.

The Company reserves the right to refuse service, terminate accounts, remove or edit content, or cancel orders at its sole discretion.

4. Nature of Services and Role of Goldcart

Goldcart provides a technology Platform that facilitates access to Digital Gold Services offered in partnership with Business Partners (Bullion Providers).

• Through the Platform, Users may place orders to buy, sell, store, or request delivery of gold products as enabled by Goldcart and its Business Partners.
• The underlying bullion and related services (vaulting, insurance, delivery, etc.) are provided by the respective Bullion Provider(s), not by Goldcart directly.
• In addition to these Terms, Users may be bound by the terms and conditions of the Bullion Provider(s) accessed through the Platform.
• Goldcart does not provide investment, tax, financial, or legal advice. You are solely responsible for your investment and transaction decisions.

You hereby agree and acknowledge that the data and information provided on the Platform does not constitute advice of any nature whatsoever and shall not be relied upon while making any savings or investment decisions.

5. KYC and Verification

Users may be required to provide KYC documentation and other information as mandated by applicable law or Business Partner requirements.

• You shall upload a clear picture of your PAN Card, except where e-PAN is provided. Goldcart will verify the PAN details submitted by you.
• Goldcart and/or its Business Partners may, at their discretion, request additional documents or information for verification or compliance purposes.
• For purchases above applicable regulatory thresholds, additional KYC including Aadhaar, biometric details, or video verification may be required.
• You consent to Goldcart and its partners using, sharing, and verifying your KYC data for compliance, fraud prevention, and service provision purposes.

6. Authorization

You hereby voluntarily and irrevocably authorize Goldcart to act as your limited agent for:

• Facilitating purchase, sale, storage, redemption, transfer, or delivery of Customer Gold through Bullion Providers and Custodians.
• Interacting with and entering into arrangements with Bullion Providers, custodians, or third-party service providers on your behalf.
• Managing any unclaimed balances or dormant Customer Gold in accordance with applicable law and contractual terms.
• Taking such actions as may be reasonably necessary to process your instructions and transaction requests.
• Addressing unclaimed digital gold assets or balances reflected in your account on the Platform and liquidating or transferring them as required by law.

All actions taken by Goldcart under this authorization shall be binding on you and shall be deemed to have been done with your express consent and authority.

7. License and Restrictions on Use

Goldcart grants you a limited, non-exclusive, non-transferable, revocable license to use the Platform for personal, non-commercial purposes in accordance with these Terms.

You agree that you will not:

• Copy, modify, distribute, sell, resell, or otherwise exploit any content or portion of the Platform, without prior written consent from Goldcart.
• Use the Platform in any way that may damage, disable, overburden, or impair it or interfere with other users' access to or use of the Platform.
• Publish or redistribute real-time gold prices or other proprietary information from the Platform in any form or media.
• Attempt to gain unauthorized access to any systems, data, or networks related to the Platform.
• Defame, abuse, harass, threaten, or otherwise violate the legal rights of others.
• Upload or distribute files that contain viruses, corrupted files, or any other similar software or programs that may damage the operation of the Platform.
• Engage in any activity that interferes with or disrupts access to the Platform or the servers connected to it.
• Probe, scan, or test the vulnerability of the Platform or any network connected to the Platform, or breach any security or authentication measures.
• Falsify or delete any author attributions, legal or other proprietary notices, or labels of origin or source of software or other material.
• Use the Platform for any purpose that is unlawful or prohibited by these Terms, or to solicit the performance of any illegal activity.

8. Placing Orders and Transactions

Prices displayed on the Platform are indicative buy/sell quotes linked to prevailing bullion market rates and are subject to change without notice.

• Orders are on a pre-payment basis with applicable GST. Upon successful payment and KYC verification (where applicable), your order will be processed and gold allocated to your Account.
• Gold purchased through the Platform shall be stored with the Custodian in a vault on your behalf. All such gold is your property from the time of purchase.
• Title in relation to Customer Gold shall be deemed to have passed to you upon such relevant portion of the payment being made to the Bullion Provider.
• Goldcart and/or the Bullion Provider may, at their sole discretion, delay, reject, suspend, or cancel any order in case of technical errors, regulatory requirements, fraud concerns, or other valid reasons.
• Goldcart may prescribe minimum and maximum transaction limits (per transaction/day/week/month), which may be changed from time to time.
• Once a Customer Order is placed, you are not entitled to cancel such order; however, such order shall remain subject to terms and conditions of the Bullion Provider.

9. Storage, Insurance, and Delivery

9.1 Storage

• Customer Gold is stored in secure vaults operated by the Bullion Provider or its appointed Custodian.
• Free storage is provided for a period of 5 (five) years from the date of purchase, or for such other period as specified by the applicable Bullion Provider terms.
• Storage charges will be levied by deducting the gold balance at the end of each month by a percentage of your gold holding, as may be prescribed from time to time.
• In the event Goldcart or the Bullion Provider is unable to deduct storage charges because your gold balance is insufficient, the outstanding storage charges shall be settled before any future withdrawal, delivery, or redemption.
• Goldcart is not responsible for physical safekeeping of Customer Gold; this is handled by the Bullion Provider and Custodian.

9.2 Insurance

• The Bullion Provider is required to maintain appropriate insurance coverage for Customer Gold stored in vaults.
• Insurance may cover specified risks (e.g., fire, lightning, theft, cyclone, earthquake, flood) but may not cover all possible events.
• In insured events, claims will be handled by or through the Bullion Provider/Custodian. In case of an insured loss, the Bullion Provider shall replenish Customer Gold to the extent of insurance proceeds received.

9.3 Delivery

• You may request physical delivery of eligible quantities of Customer Gold to a valid Indian address (excluding certain states/regions as may be communicated), subject to minimum delivery quantities and applicable delivery charges.
• Deliveries are made only to the registered address of the customer. Identity and address verification may be required at the time of delivery.
• You are required to inspect the package carefully upon receipt and must refuse delivery if the package is tampered, unsealed, or damaged. Once accepted, no claims for deficiency can be entertained.
• Once delivery has been accepted and the delivery receipt signed, Goldcart and the Bullion Provider shall have no further liability in respect of such delivered gold.
• If delivery fails due to your unavailability or incorrect address, delivery will be attempted at least once more. If delivery continues to fail, the gold may be returned to vault storage.

9.4 Unclaimed Gold – Maximum Storage Period

• You are required to take delivery of your Customer Gold within the Maximum Storage Period as specified by the applicable Bullion Provider terms.
• If no valid address is provided by you within the Maximum Storage Period, Goldcart and/or the Bullion Provider will attempt to contact you during a Grace Period.
• If you cannot be contacted or fail to take delivery during the Grace Period, the Bullion Provider shall sell the unclaimed Customer Gold at the prevailing market rate ("Final Sale Proceeds").
• You may claim the Final Sale Proceeds within a period of 3 (three) years from the expiry of the Grace Period ("Final Claim Period").
• If unclaimed within the Final Claim Period, the Final Sale Proceeds shall be transferred to the Prime Minister's National Relief Fund or any other fund as may be designated under applicable law.

10. Pricing, Payments, and Taxes

• Gold prices on the Platform are derived using reference rates or formulas linked to prevailing bullion market rates and may differ from prices on other platforms.
• As a purchaser, it is your responsibility to compare the prices and take appropriate decisions after performing your own due diligence.
• Payment methods available may include UPI, net banking, cards, or other instruments via payment gateways. Goldcart is not liable for payment failures due to reasons attributable to your bank or payment provider.
• All applicable taxes, duties, levies, or cess (including GST at 3%) on purchase, sale, storage, or delivery of gold shall be borne by you and will be reflected in your invoice/transaction summary.
• Goldcart and its partners are not responsible for your personal tax filings or liabilities; you should consult an independent tax advisor.
• You agree and acknowledge that you are not a GST Registered Dealer.
• You agree that TDS shall not be applicable if you undertake financial transactions on the Platform.
• The transactions on the Platform will be completed only after successful transfer of money to the Bullion Provider's account.
• Unclaimed rewards or credits will expire after 90 (ninety) days from the date of credit, unless otherwise specified.

11. Returns, Refunds, Cancellations, and Auto-Invest

11.1 Cancellation

Once a payment has been successfully processed and a transaction confirmed, it is final and cannot be cancelled. All sales of Customer Gold are processed at the live sell price at the time of placing the sell order.

11.2 Refund Policy

Once an order for purchase or sale has been confirmed by you, refunds or cancellation are not possible. However:

• In case of a transaction failure, rejection, or cancellation by Goldcart or the Bullion Provider after money has been debited from your account, the amount will be refunded to your source account within 5–7 working days, subject to bank processing times.
• In the event of a withdrawal failure where sale proceeds are not credited to your bank account within the expected time, contact Goldcart support with your transaction details.
• Once delivery has been taken and accepted by you, returns and refunds are not possible. All products are sold on an "as is" basis and final sale.

11.3 Coupons and Discounts

On use of any coupon or discount made available on the Platform or through any authorised third party, such coupon or discount amount/benefit may not be refundable or transferable and may have specific expiry dates or conditions.

11.4 Auto-Invest / Recurring Mandates

If the Platform offers recurring or "auto-invest" features, you may pause or cancel such mandates through the Platform settings or by contacting customer support. Goldcart is not liable for transactions already processed before cancellation is effective.

12. Offers and Rewards

• Goldcart may run promotional offers, discounts, coupons, or reward programs from time to time.
• Each offer may be subject to additional terms (eligibility, validity, usage limits), which will be communicated at the time of the offer.
• Offers are not combinable with other promotions unless expressly stated. Each coupon can only be applied once per user per transaction.
• Goldcart may modify or withdraw any offer at any time without prior notice, and its decision shall be final and binding.
• Unclaimed rewards shall expire after 90 (ninety) days from the date of credit.

13. Intellectual Property

All rights, title, and interest in and to the Platform, including content, design, text, graphics, logos, trademarks, software, and technology, are owned by or licensed to Goldcart.

• You are allowed to use such material only for your personal, non-commercial use and must not copy, download, reproduce, publish, or distribute it without prior written consent from Goldcart.
• The trademarks, logos, and service marks displayed on the Platform are the property of Goldcart and/or their respective owners and may not be used without permission.
• You understand and accept that all information, except your personal information and other data submitted by you, available on the Platform, shall be treated as property of Goldcart.
• If you become aware of any infringement of Goldcart's intellectual property rights, you shall report it immediately to Goldcart.

14. Termination and Suspension

Goldcart may, at its sole discretion, suspend or terminate your Account or access to all or part of the Platform, with or without notice, if:

• You breach these Terms, applicable laws, or partner terms;
• Required by law, regulation, or a competent authority;
• There is suspected fraud, security risk, or misuse;
• You have infringed, breached, violated, abused, or unethically manipulated or exploited any term of these Terms.

You may close your Account by following the in-app process or contacting support through your registered email. Closing your Account does not extinguish any obligations already incurred.

These Terms will survive indefinitely unless and until Goldcart chooses to terminate or modify them.

15. Limitation of Liability

To the maximum extent permitted by law:

• Goldcart (including its directors, officers, employees, and affiliates) shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of the Platform or services.
• Goldcart's aggregate liability, if any, arising from any claim relating to a transaction shall not exceed the transaction value of the specific order giving rise to the claim.
• Gold prices are market-driven and volatile; no returns or performance are guaranteed by Goldcart.
• Goldcart shall not be responsible for any delay or inability to use the Platform or related functionalities arising due to technical failures, scheduled maintenance, or events beyond its control.
• The Platform and Content are provided on an "as is" basis without warranty of any kind, express, implied, or statutory, including warranties of merchantability, fitness for a particular purpose, or non-infringement.

Goldcart does not guarantee any returns on any transaction. You shall be solely responsible for undertaking proper due diligence before making any investment or transaction decision.

16. Indemnity

You agree to indemnify and hold harmless Goldcart, its directors, officers, employees, and affiliates from and against any claims, losses, liabilities, damages, costs, and expenses (including legal fees) arising from:

• Your breach of these Terms or any applicable law;
• Your violation of any rights of a third party, including intellectual property rights;
• Your misuse of the Platform or services;
• Any misrepresentation with respect to the data or information provided by you.

In no event shall Goldcart, its affiliates, their respective directors, officers, partners, consultants, or employees be liable for damages of any kind that result from the use of, or the inability to use, the Platform or the materials available on the Platform.

17. Force Majeure

Goldcart and/or its Business Partners shall not be liable for any failure or delay in performance of obligations to the extent caused by events beyond their reasonable control, including:

• Acts of God, war, riots, strikes, fire, flood, pandemic, epidemic, civil commotion;
• Governmental actions, changes in law or regulation;
• Failures of networks, systems, telecommunications, or power;
• Computer hacking, unauthorized access to computer data and storage devices, computer crashes, or system failures;
• Any other event beyond their reasonable control that could not have been prevented by reasonable precautions.

During such events, obligations shall be suspended to the extent affected and for the duration of the event. Goldcart will take reasonable steps to resume performance as soon as practicable.

18. Change in Law

If any change in applicable laws, regulations, regulatory guidance, or governmental policies materially affects Goldcart's ability to provide any service or part thereof, Goldcart may modify, suspend, or discontinue such service to the extent required to comply with the changed law, without liability to you.

Notwithstanding the foregoing, Goldcart shall take reasonable efforts, subject to applicable law and business viability, to minimize disruption to services caused by regulatory changes.

19. Assignment

You may not assign or transfer your rights or obligations under these Terms to any third party without Goldcart's prior written consent. Goldcart may freely assign or transfer its rights and obligations, including in connection with a merger, acquisition, or sale of assets, upon notice to you.

20. Governing Law and Jurisdiction

These Terms shall be governed by and construed in accordance with the laws of India, without reference to its conflict of laws principles.

Subject to any mandatory dispute-resolution process, the courts at Salem shall have exclusive jurisdiction to settle any disputes arising out of or in connection with these Terms.

To the fullest extent permitted by applicable law, any dispute, differences, or claim arising out of or in connection with these Terms, including its validity, shall first be attempted to be resolved by mutual negotiation. If unresolved within 30 days, the matter shall be referred to binding arbitration under the Arbitration and Conciliation Act, 1996, with a sole arbitrator to be mutually appointed.

21. Communications

You hereby expressly agree to receive communications (including transactional messages) by way of SMS, email, WhatsApp, or push notifications from Goldcart or its partners in relation to your Account and services.

• You understand that such communications are upon your request and authorization, are transactional in nature, and shall not be construed as unsolicited commercial communications.
• You may unsubscribe/opt out from receiving non-transactional and marketing communications through email or account settings.
• Transactional communications related to your account security, orders, and services are mandatory and cannot be opted out of.

22. Confidentiality

All communications between you and Goldcart, and all confidential information given to or received by you in the course of using the Platform, shall be kept confidential. You shall not disclose such information to any third party without prior written consent from Goldcart, except as required by law.

This confidentiality obligation shall survive the termination of these Terms and the User Account of the concerned user.

23. Your Obligations and Responsibilities

While accessing the Platform, you shall comply with these Terms and any special warnings or instructions given by Goldcart for access to or use of the Platform or a Service.

You further represent and warrant that:

• Payment for purchase of Services is made from your own bank account (primary holder's bank account in the case of joint accounts) and is not from any third party or unlawful source.
• Before making any purchase, you shall seek independent financial planning, legal, accounting, tax, or other professional advice as may be relevant and appropriate to your individual circumstances.
• You will not sell, trade, or otherwise transfer your registered Account to another party, or impersonate any person or entity.
• You agree and confirm that you solely, to the exclusion of Goldcart, are liable for all liabilities incurred or that may be incurred by you as a result of or in connection with your transactions made through the Platform.

24. Disclaimers

The Platform and services are provided on an "as is", "as available" basis without warranties of any kind. Goldcart expressly disclaims all warranties, express, implied, or statutory.

• Goldcart does not warrant that the services will be uninterrupted, timely, secure, or error-free, or that any defects will be corrected.
• Any content or material downloaded or obtained through the Platform is at your own risk, and you are solely responsible for any damage to your device or loss of data that results from downloading or obtaining such material.
• The Platform may be under constant upgrades, and some functions and features may not be fully operational during the upgrade period.
• Goldcart may periodically add or remove features and functionalities, increase or decrease limits to the extent legally permissible.

25. Grievance Redressal

Goldcart is committed to resolving all disputes in a fair, effective, and cost-efficient manner through its Grievance Redressal Mechanism. If you are aggrieved by any service, act, or omission of Goldcart, please write to the Grievance Officer.

Grievance Officer Name: [Name to be inserted]

Email: goldcartapp@gmail.com

Working Hours: Monday to Friday, 10:00 a.m. – 6:00 p.m. IST, excluding public holidays

• The Grievance Officer will acknowledge your complaint within 24 (twenty-four) hours of receipt and aim to resolve it within 15 (fifteen) working days.
• Every grievance will be assigned a complaint or ticket number which can be used to track the status of the grievance.
• Redressal or closure of a grievance may take up to 1 (one) month from the date of receipt of the complaint.
• If you are dissatisfied with the grievance redressal mechanism, the dispute will be resolved through arbitration as described in Section 20.

26. General Provisions

Notice: All notices from Goldcart will be served by email to your registered email address or by general notification on the Platform.

Severability: If any provision of these Terms is found to be unenforceable by a court of competent jurisdiction, it shall be deemed modified to the minimum extent necessary to make it enforceable, and the remaining provisions shall continue in full force and effect.

Waiver: Any failure by Goldcart to enforce or exercise any provision of these Terms, or any related right, shall not constitute a waiver of that right or provision.

Entire Agreement: These Terms, together with the Privacy Policy and any other terms incorporated by reference, constitute the entire agreement between you and Goldcart with respect to the use of the Platform and Services.

27. Contact Us

For any queries, complaints, or requests, you may contact:

Goldcart Private Limited
183/30, First Floor, First Agraharam,
Near Vasavi Mahal, Salem – 636001, Tamilnadu.

Phone: +91 916 11 916 77

Email: goldcartapp@gmail.com

This document is last updated as of [Date to be inserted]. Goldcart reserves the right to modify these Terms at any time. Continued use of the Platform after any changes constitutes your acceptance of the revised Terms.