These "terms" and "Conditions of Use" ("Terms") constitute an electronic record within the meaning of the applicable laws. This electronic record is generated by a computer system and does not require any physical or digital signatures. These Terms shall be in addition to and not in derogation to any other terms as stipulated from time to time. By using this facility on the Motilal Oswal Platform, you are agreeing to and accept these Terms.

  1. In these Terms, references to "you", or "Customer" shall mean the counterparty who transacts using the Motilal Oswal “Platform”, being a natural person, buying Gold, redeeming Gold in the form of redeemable products, selling back gold to MMTC-PAMP. “Platform” shall mean, and include, the platforms (website, mobile apps, others) of Motilal Oswal Communications, that the Customer accesses for the transactions, including all contents, services and technology offered through the Platform. "Service Providers" mean independent third party service providers, and references to the “Seller”, "MMTC-PAMP", "we", "us" and "our" shall mean MMTC-PAMP India Private Limited. . “Transfer” refers to a facility to transfer Gold from a gold account to gold account of another Customer(s).
  2. We reserve the right to change these Terms at any time. Such changes will be effective when posted on the Platform and shall be deemed to be notified to the Customer accordingly. Notwithstanding anything contrary, Customer shall be responsible for regularly reviewing the Terms, including amendments thereto as may be posted on the Platform and shall be deemed to have accepted the amended Terms by continuing the use of Platform.
  3. MMTC-PAMP shall be entitled to collect and store relevant information and documents provided by the Customer to the Platform for KYC purposes, For cumulative lifetime purchases of Rs. 50,000/- and above and subsequently from time to time. Further, as and when required by MMTC-PAMP / Motilal Oswal, the Customer will be required to provide additional documents for fulfilling the KYC requirements. You authorize MMTC-PAMP and Motilal Oswal to make such enquiries as they may feel necessary to satisfy themselves about the validity of your identity. You undertake to update us and Motilal Oswal in case of change of your existing information or verification documents provided by you.
  4. You shall be responsible for the correctness of information to MMTC-PAMP / Motilal Oswal from time to time. If you have reasons to believe that there is an error in the information furnished to MMTC-PAMP / Motilal Oswal you shall immediately advice the MMTC-PAMP / Motilal Oswal in writing and forthwith provide correct / updated information.
  5. We reserve the right to terminate any Gold account, with or without notice to you, in the event the KYC documents / information are found to be incorrect or authenticity of the documents / information is found to be doubtful. You hereby undertake to indemnify and keep indemnified MMTC-PAMP and Motilal Oswal against any and all losses, claims, liabilities costs etc. which arise out of or relating to your failure to identify yourself and validate your account promptly and / or due to incorrect KYC documents / information.
  6. You can offer to buy Gold worth Rs. 1.00 (Rupee One Only) and above incremental value thereof at the live purchase price of Gold of 999.9 purity displayed on the Platform.
  7. Payment will be accepted only through your ledger with Motilal Oswal.
  8. At the time of redemption, the Customer can select redeemable product for redemption from catalogue of redeemable products. These redeemable products will be hosted on the Platform. The list of redeemable products may be altered, changed and amended by MMTC-PAMP from time to time at its sole discretion.
  9. At the time of redemption in physical deliverable product form, the Customer will pay additional manufacturing and delivery charges and applicable taxes on the same. The redeemable product selected from the catalogue for delivery shall be subject to availability of stock with the MMTC-PAMP.
  10. In case delivery doesn’t happen in three attempts by the logistic partner then coin shall go back to MMTC-PAMP and customer will get the refund of making charges after debiting the return and delivery charges.
  11. For each confirmed purchase of Gold by the Customer , MMTC-PAMP India will be the custodian of the metal, till (a)) sell-back by the Customer, (b) redemption by the Customer, or (c) expiry of Custody Period,. For the purpose of this clause, ‘Custody Period’ shall mean a period of 5 years from each separate purchase of Gold by the Customer. The Gold purchased by you or transferred to your Gold account will be allocated and stored in a highly advanced and secured vault of MMTC-PAMP, with full insurance cover. If you redeem your gold after the Custody Period, additional charges will be levied.
  12. The Customer will have the option of redeeming and asking for physical delivery of the full or part of the accumulated gold holding, in the form of redeemable products starting from 1 (One) gm and above. The residual fractional gold remaining, upon redemption / Transfer by you of the entire gold holding, can be sold back by you to us at the live sell-back price of gold of 999.9 purity and the corresponding amount against the residual fractional gold sold by you will be credited in your Motilal Oswal wallet instantly.
  13. The Customer cannot buy and redeem Gold on the same day.
  14. You need to pay the applicable making and delivery charges from your Motilal Oswal ledger.
  15. Once the redemption has been initiated by you and payment received then your gold grams will be debited accordingly from your Gold account.
  16. MMTC-PAMP may also, from time to time in future, offer/permit the Customer to sell-back its gold in fraction to MMTC-PAMP at prevailing live sell-back price of gold of 999.9 purity, during the offer period as may be announced / permitted by MMTC-PAMP. The money against the fractional gold sold by a Customer would be credited to the customer’s ledger with Motilal Oswal.
  17. Live purchase price of Gold will be displayed on the Platform and is subject to change from time to time. At the time you make request for redemption / sell-back, the value of Gold / quantity of Gold to be redeemed / sold back will be displayed based on live sell-back price of Gold. The live purchase price of Gold and live sell-back price of Gold may vary and also may be be different from that available in the open market and/or in any other retail outlet. Your offer may be rejected irrespective of whether an item has been earmarked/wish listed by a Customer. In such an event if you still wish to offer to purchase Gold or sell-back residual fractional Gold, you may make another offer at the changed price. MMTC-PAMP disclaims any and all claims and/or liabilities arising from such non acceptance of offer or revision in prices.
  18. While availing any of the payment method/s available on the Platform, MMTC-PAMP will not be responsible or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to the Customer due to:
    1. Lack of authorization for any transaction/s,
    2. Exceeding the preset limit mutually agreed by and between the Customer and Motilal oswal.
    3. Any payment issues arising out of the transaction,
    4. Temporarily discontinuation of invitation to offer; and / or
    5. Decline of transaction for any reason(s) whatsoever.
  19. MMTC-PAMP may, at its discretion, prescribe maximum individual/cumulative limits for Customers to accumulate gold or transfer Gold through this scheme from time to time, and reserves the right to refuse to accept order exceeding such limit.
  20. At any point of time on any day MMTC-PAMP may temporarily discontinue the invitation to offer for any reason whatsoever.
  21. MMTC-PAMP will, at its discretion, close down gold account of Customers, if (a) they are inactive accounts; (b) their Custody Period has expired; and / or (c) if MMTC-PAMP decides to discontinue the scheme. In such an event, Customers will be required to redeem and / or sell-back their gold holdings within the notified period. In the event the Customer chooses not to respond, then (i) in case of expiry of Custody Period, MMTC-PAMP reserves the right to repurchase the gold holding of the Customer at the then prevalent live sell-back price, after deducting applicable charges and taxes, (ii) in case of Inactive GAP account, MMTC-PAMP reserves the right to repurchase the gold holding of the Customer, on the expiry of Custody Period, at the then prevalent live sell-back price, (iii) in case of discontinuation of scheme by MMTC-PAMP, MMTC-PAMP reserves the right to repurchase the gold holding of the Customer, on the expiry of Custody Period, at the then prevalent live sell-back price. For the purpose of this Clause 'Inactive Account' shall mean an account in which there has not been any transaction for a period of 18 (Eighteen) months or more.
  22. All the proceedings of such forced buy back by MMTC- PAMP shall be kept in a dedicated GAP account and Customer or its successors can claim it after providing sufficient proofs (Id, relationship etc).
  23. The Customer falling outside the deliverable Pin codes will not have the option for placing the order for the physical delivery and can only sell back or transfer.
  24. All redeemable products selected for delivery by Customer for redemption, shall be delivered within India as per instructions of the Customer, through us / our logistics partners, provided the delivery address falls within the deliverable Pin codes / serviceable area, as notified and updated by MMTC-PAMP, from time to time. All deliveries where applicable will be made on a best efforts basis, and whisle MMTC-PAMP will endeavor to deliver the Products on the dates intimated, the MMTC-PAMP disclaims any claims or liabilities arising from any delay in this regard.
  25. The logistics partner of MMTC-PAMP will make a maximum of three attempts to deliver your order. After three attempts gold coin will be delivered back to MMTC-PAMP and customer will need to put the fresh request for the redemption.
  26. MMTC-PAMP / its logistics partner will make a maximum of three attempts to deliver your order. After three attempts gold coin will be delivered back to MMTC-PAMP and customer will need to put the fresh request for the redemption.
  27. MMTC-PAMP shall not be liable / responsible, in any manner whatsoever, for any loss / liability arising out of or relating to any technical failure / issue in Platform and / or acts / omission not attributable to MMTC-PAMP.
  28. Nothwithstanding anything contrary contained herein, the service, the interface and API work, and their respective information, pricing and data, and availability are subject at any time and from time to time to human, mechanical , typographic, or other errors, oversights, mistakes, limitations, delays, service interruptions, without limitation, as may be due in whole or in part to, related to or arising out of (i) computer hardware and software, telecommunication and operating systems, databases, or business processes and procedures, (ii) problems inherent in, or which may be associated with, the use of the internet and electronic communications including, without limitation, force majeure event government / regulatory actions, orders, notifications etc. and / or and acts and omissions of third parties etc. affecting or impacting the service, the interface or the API work, its information and data, or such communications. Customer acknowledges and agrees that MMTC PAMP is not responsible or liable whatsoever for delays, failures, or other loss due to, caused by or resulting from any such problems, in whole or in part. If your gold account is over credited or wrongfully credited / debited, then MMTC PAMP has right to reverse / cancel without notice or require cancellation / reversal of such transaction at its sole discretion and debit / credit the gold to / from your gold account, as the case may be. MMTC-PAMP shall not be liable for any wrong transfer of gold by you to another account (including but not limited to transfer to a different user / customer etc.) and the gold grams shall not be reversed to you in case of an erroneous transfer and / or in case the transferee has already transacted the gold transferred.
  29. Upon MMTC-PAMP confirming the purchase. redemption, sale-back of Gold, the order / request of Customer to purchase / redemption / sale-back , as the case may be, shall be binding on the Customer and cannot be cancelled.
  30. The Customer shall inform immediately, in any case no later than [15] days of the transaction, of any irregularities or discrepancies that may exist in his/her gold account, failing which it shall be deemed that there is no error or discrepancies in the account. All records maintained by MMTC-PAMP, in electronic or documentary form of the instructions of the Customer and such other details (including, but not limited to payments made or received) pursuant to the Terms, shall as against the Customer, be deemed to be conclusive evidence of such instructions.
  31. The Customer understands and acknowledges that any purchase, redemption or sale-back will be on instructions received by the Customer, and the Customer will not violate any applicable laws or regulations for the time being in force in or outside India. The Customer shall be solely responsible for complying with applicable laws in respect of purchase, redemption, , sale-back including but not limited to the Prevention of Money Laundering Act, 2002, the Prohibitions of Benami Property Transactions Act, 1998, Income Tax Act, 1961 etc including amendment thereof. Customer also agrees and undertakes that he /she will not open any account in the name of any minor. MMTC-PAMP will not be liable in any manner in this regard.
  32. The Customer feedbacks pertaining to products shall be deemed to be non-confidential and non-compensatory in nature. MMTC-PAMP reserves the right, at its sole discretion to use such information and such use shall be entirely unrestricted. The Customer hereby irrevocably authorizes MMTC-PAMP to disclose, exchange, share or part with all the information relating to the Customer's details and payment history information and all information pertaining to transaction and undertakes not to hold MMTC-PAMP /its affiliates/the other group companies of MMTC-PAMP group and their agents liable for use of the aforesaid information.
  33. In the event of termination / expiry of MMTC-PAMP's arrangement with MOSL or otherwise at any point of time, MMTC-PAMP reserves the right to migrate your Gold account to an alternative platform and continue with Gold account on such alternative platform (as decided by MMTC-PAMP). MMTC-PAMP shall also be entitled to notify the Customer for redemption of the products within the time lines as specified in the notice sent by MMTC-PAMP in this regard.
  34. These Terms shall be governed by and interpreted and construed in accordance with the laws of India. The courts in New Delhi shall have exclusive jurisdiction in respect of any matters arising therefrom.
  35. In the event any dispute arises out of or in connection with the Terms herein, including the validity hereof, the parties hereto shall endeavor to settle such dispute amicably in the first instance. The attempt to bring about an amicable settlement shall be treated as having failed as soon as one of the parties hereto, after reasonable attempts, which shall continue for not less than 15 (Fifteen) calendar days, gives a notice to this effect, to the other party in writing.
  36. Waiver : Any failure or delay by MMTC-PAMP to enforce or exercise any provision of these Terms, or any related right, shall not constitute a waiver by MMTC-PAMP of that provision or right. The exercise of one or more of a MMTC-PAMP's rights hereunder shall not be a waiver of, or preclude the exercise of, any rights or remedies available to MMTC-PAMP under these Terms or in law or at equity. Any waiver of any provision shall only be effective if made in writing and executed by a duly authorized officer of MMTC-PAMP.
  37. Force Majeure : If performance under these Terms by MMTC-PAMP is prevented, restricted, delayed or interfered with by reason of labor disputes, strikes, acts of God, floods, lightning, severe weather, shortages of materials, rationing, inducement of any virus, Trojan or other disruptive mechanisms, any event of hacking or illegal usage of the Platform, utility or communication failures, earthquakes, war, revolution, acts of terrorism, civil commotion, acts of public enemies, blockade, embargo or any law, order, proclamation, regulation, ordinance, demand or requirement having legal effect of any government or any judicial authority or representative of any such government, or any other act whatsoever, whether similar or dissimilar to those referred to in this clause, which are beyond the reasonable control of the MMTC-PAMP and could not have been prevented by reasonable precautions then the MMTC-PAMP shall in to be excused and discharged from such performance to the extent of and during the period of such force majeure event, and such non-performance shall, in no manner whosoever, amount to a breach by the MMTC-PAMP of its obligations herein.
  38. Absence of relationship : You represent and warrant to MMTC-PAMP that you have sufficient experience and knowledge to make informed decisions to purchase/ redeem/ / sale-back Gold/Redeemable Products. You acknowledge that you are making all of your own decisions in connection with purchases or redemption or sale-back and that you have not relied on any information made available by MMTC-PAMP, and that MMTC-PAMP is not making any recommendation with respect to such purchases/redemption/sale-back/ of Gold/Redeemable Products. No relationship other than seller-purchase, including, without limitation, any agent-principal relationship, any advisor-advisee relationship, any employee-employer relationship, any franchisee-franchisor relationship, any joint venture relationship or any partnership relationship, exists between you and MMTC-PAMP.
  39. 36. You acknowledge that MMTC-PAMP is not providing / dealing in / offering any investment product and does not offer any guarantee / assured returns. You further acknowledge that value of Gold / Product may go up and down depending on various factors and forces.
  40. Electronic Order Risks : Order entry systems have been designed to provide an efficient and dependable method for entering orders. Commercial internet service providers are not 100% reliable and a failure by one or more of these providers may affect internet-based order entry. You acknowledge that the order entry system is an electronic mechanical system and as such may be subject to failure beyond the control of MMTC-PAMP. Therefore, MMTC-PAMP shall not be responsible for errors, negligence, inability to execute orders, delays in transmission, delivery or execution of order due to breakdown or failure of transmission or communication facilities, or to any other cause beyond MMTC-PAMP's control or anticipation. You acknowledge that pricing or typographical errors may occur and that therefore, in the event that a product is listed at an incorrect price or with incorrect information due to an error in pricing or product information, MMTC-PAMP reserves the right, at our sole discretion, to refuse or cancel or reject any orders placed for the products. Furthermore, MMTC-PAMP reserves the right to deny refuse or cancel or reject any orders placed in case of market volatility and/ or unusual circumstances or conditions. This includes, without limitation, unexpected unavailability of product/Gold.
  41. Customer responsibility for taxes, tariffs and duties : You acknowledge that you are solely responsible for all taxes, tariffs and duties that may be incurred as a result of purchase/redemption/ of Gold/Redeemable Products. MMTC-PAMP will only collect taxes, tariffs and duties on transactions to the extent explicitly required by law. It is your responsibility to be aware and properly address any taxes, tariffs and duties to which you may be subject by any local, state and/ or federal governments. If you have any questions about taxes, tariffs and duties, you should consult a tax or other professional about your unique circumstances. MMTC-PAMP does not represent to provide advice or recommendations about your specific taxes, tariffs and duties and any statements made by us are only for the purpose of raising issues for you to discuss with your tax or other professional.
  42. Indemnification : Customer hereby agrees to indemnify and keep MMTC-PAMP indemnified from and against all actions, claims, demands, proceedings, losses, damages, personal injury, costs, charges and expenses, directly or indirectly, whatsoever ('Losses') which MMTC-PAMP or its employees, agents, workers or representative may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of: (i) the usage of the Platform by the Customer; (ii) by reason of MMTC-PAMP 's acting in good faith and taking or refusing to take or omitting to take action on the Customer's instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of the Customer; (iii) breach or noncompliance of the Terms and relating to the gold account; and/or (iv) fraud or dishonesty relating to any transaction by the Customer. Without prejudice to the foregoing, MMTC-PAMP shall be under no liability whatsoever to the Customer in respect of any loss or damage arising directly or indirectly out of:
    1. Effecting transaction based on instructions received from Customers,
    2. The instruction of a Customer to transfer Gold from his / her gold account to another gold account,
    3. The exercise by MMTC-PAMP of its right to terminate / exercise the facility/services provided on the Platform,
    4. Any injury to the credit, character and reputation of the Customer due to use of facility/ services on the Platform,
    5. Any misstatement, misrepresentation, error or omission in any details disclosed by MMTC-PAMP if receives any process, summons, order, injunction, execution distrait, levy lien, information or notice which MMTC-PAMP in good faith believes/ calls into question the Customer’s ability, or the ability of someone purporting to be authorised by the Customer, to make the transfer, MMTC-PAMP may, at its option and without liability to the Customer or such other person, decline to allow the Customer to obtain any portion of his gold/ product, or may handover such gold/product over to an appropriate authority and take any other steps required by applicable law.
  43. Disclaimers and limits of liability : MMTC-PAMP does not make any representations, recommendations, projections, warranties or guarantees of any kind, either expressed or implied, as to the performance of its Gold/Redeemable Products with respect to future prices or any return on investment. MMTC-PAMP will not be liable for any Loss or damage caused by reliance on information obtained in any of our newsletters, literature, reports, e-mail correspondence, website, or any other communication from MMTC-PAMP. MMTC-PAMP will not be liable to any Customer for any Losses caused by or relating to deposit of Gold to gold account of any other Customer. MMTC-PAMP explicitly urges to all its Customers to inspect the package for any damage or tamper before receiving or signing for receipt. If you find any tampering, do not accept the parcel and return the same. MMTC-PAMP will not be liable for any loss or damage caused if the Customer accepts the parcel despite of it being damaged or tampered. The duty to verify the parcel for any damages or tampering is of the Customer and if the Customer accepts the parcel and later comes to know of any damage or tampering, MMTC-PAMP shall not be liable for any loss or damage to Customer. If such loss is later reported and approved by logistics partner and Insurance Company, the limit of liability shall be restricted to the amount paid by the logistic partner for such loss or damage in transit as per their terms and conditions and the same shall be binding upon the Customer.
  44. You acknowledge that MMTC-PAMP will not be liable to you or any other person as a result of your access or use of Gold/Redeemable Product for indirect, consequential, special, incidental, punitive, or exemplary damages, including, without limitation, lost profits, lost savings and lost revenues (collectively, the "excluded damages"), whether or not characterized in negligence, tort, contract, or other theory of liability, even if MMTC-PAMP has been advised of the possibility of or could have foreseen any of the excluded damages, and irrespective of any failure of an essential purpose of a limited remedy. In no event will MMTC-PAMP or any of its directors, employees, agents' total liability to you for all damages, losses, liabilities and causes of action under these Terms and the facility/ services provided by MMTC-PAMP collectively exceed total amount paid by you, if any, for access to that particular products or services. The foregoing limitation of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.
  45. Appointment of Security Trustee
    1. You hereby acknowledge and agree that in order to ensure that Your Customer Orders/Customer Requests are fulfilled in all circumstances, a first and exclusive charge on the Customer Gold by way of hypothecation will be created in favour of IDBI Trusteeship Services Limited or any successor Person (“Security Trustee”)
    2. ii. 44.2 By accepting these Terms, You further agree to accede to the terms for such arrangement with the Security Trustee (i.e., a security trustee agreement) and for creation of the charge over the Customer Gold by way of a deed of hypothecation or the like (collectively, “Security Trustee Agreements”). By clicking on “I Accept”, You acknowledge that You will accede to the Security Trustee Agreements (upon such date) as if You had been named as an original party to the same and had executed each of such Security Trustee Agreements; and will be bound by all the terms and conditions of the Security Trustee Agreements.
    3. All existing customers need to tick “I Accept “ at the appropriate place on the Motilal Oswal Financial Servies website as well as the app agreeing to the creation of the first and exclusive charge on the purchased Gold i.e. Customer Gold already kept with our Safe Keeper/ Custodian by way of hypothecation created in favour of IDBI Trusteeship Services through the deed of hypothecation or the like (collectively,“Security Trustee Agreements”).
    4. In the event of any expenses or charges remaining payable to any customer be guided by the respective SOP’s and terms and conditions of the platform.
    5. By way of these Terms, You authorize the Security Trustee to act on your behalf.
  46. Safe Keeping/Vaulting of Gold
    1. Gold purchased by You corresponding to the Customer Order shall be stored with a custodian i.e MMTC-PAMP in a vault on Your behalf (“Vault Keeper”).
    2. To ensure that the Customer Gold stored in such vault is adequately protected, necessary insurance policy/ies has been obtained by the Vault Keeper, where the cost of insurance to safe keep the same will be borne by the Vault Keeper. Pursuant to such insurance policy/ies, for any loss or damage to the Customer Gold stored in the vault, You further authorize the Security Trustee to act as Your beneficiary under the insurance policy/ies and to take all steps necessary to protect Your interests.
    3. The Vault Keeper has taken the necessary insurance policy/ies, in case of occurrence of an insurable event.
    4. Maintenance of the purity of the Gold as per Customer Order will be the responsibility of the MMTC-PAMP along with the Delivery of Gold to the Customer as per his /her last reported address on request for delivery.