Terms & Conditions
These following Terms and Conditions (the Terms) provide the basis on which we (Global Bullion & Vault Ltd) agree to enter into an agreement (the Contract) in providing you (the Named renter/s), the use of Safe Deposit Box (the Box) as stated in the Application form you will sign, for the time period and conditions that may be attached with the application form. We may change our Terms and Conditions and we will let you know immediately of any such changes.
1. Renting the safe deposit box
- You need to provide us with a valid photographic identification document and a document to prove your address, such documents where utility bills should not be older than 3 months.
- Upon successful verification and your accepting our Terms and Conditions, we will offer you safe deposit box for your use in line with the Terms.
- We offer Safe Deposit Box rental service on non-custodial basis and should not be taken as substitution to adequately and appropriately insuring your valuables.
- You must inform us immediately if you move to a new house and provide us with your updated address or inform us any change in your circumstances that may affect the contract with us.
2. What you cannot store
You do not need to disclose your contents inside your box and you acknowledge that we are not aware of what you intend to store, however, you cannot and should not store the following things:
- Anything that constitutes the Proceeds of Crime.
- Any biodegradable substances like plants or animals or substances made thereof.
- Any harmful chemicals which may be corrosive or poisonous.
- Anything inflammable or explosive.
- Weapons of any sort.
- Anything that is immoral, offensive, or indecent.
- Illegal drugs.
- Or, any substances deemed illegal by the UK law.
3. Accessing your safe deposit box
- You can access your safe deposit box as many times as you reasonably need during our opening hours.
- Only you and another named person can access your box.
- You will require your RFID card and your physical key each time to access the secure area and safe deposit box inside the Vault.
- You will need to go through your biometric identity verification every time you access your box.
- We reserve the right to refuse your access to your box if your payment is due or your behaviour is abusive or suspicious. You also accept that you will comply our reasonable instructions in using your box and will not cause anything that may affect other customers adversely or cause damage to our premises and properties or that to of any third parties.
- You should not make copies of your keys.
- While you can use your safe deposit box according to the Terms mentioned here, this by no means give you right of ownership or partnership of the box or the premises you access.
- It is your sole responsibility to ensure your box is locked properly after every time you use it.
4. Keys and RFID cards
- We will issue two RFID cards and two mechanical keys to you per box upon your successful registration. We do not keep copies of your keys or cards.
- All the cards and keys remain our property all the time.
- If your card/s and/or key/s are lost or stolen you should inform us immediately.
- If you lose your card, we will charge £12 plus VAT to issue per card.
- If you lose your key, we will charge you for all the necessary cost involved for cutting open your locker and the replacement for new one. This can cost £350 plus VAT or higher. We will require you to be present together with independent witness when that is being done. This cost can cost you £350 plus VAT or higher.
- We will issue you new keys in above circumstance only once you have paid all the associated costs.
- It is therefore your sole responsibility to keep your cards and keys safe and, in good condition to avoid unnecessary expenses.
- We will upon you renting a box shall arrange complementary “All Risk” insurance cover of £10,000 per box for the first year of your rental period. Noble Insurance Services Ltd is the brokerage company which shall facilitate the insurance cover under their trade name Noble Security Box. All the claims will be dealt by Noble Insurance Services Ltd. Please see our Boxes and Prices section together with insurance section for detail.
- When you accept the complementary insurance cover you accept that you are happy for us to share your detail with Noble Insurance Services Ltd and they can contact you in relation to their insurance products. They shall contact you directly from the second year onwards to discuss the insurance cover that you may wish to keep and continue, increase or decrease the cover amount and continue for the insurance premium or discontinue.
- You can top-up your insurance cover for an additional premium up to £500,000 per box.
- Wear cover is available as an extra protection for additional premium. Please see our insurance section for detail.
- It is your sole responsibility to decide if you would need additional insurance cover on top of the free cover that comes with your box.
- It is your sole responsibility to read and understand insurance policy and contact Noble Insurance Services Ltd immediately for any queries.
- Our safe deposit box service alone should not be taken as a substitute for a proper and adequate insurance cover.
- All charges are set out in our Boxes and Prices section.
- We keep the right to change the charges without prior notice, however we try to inform you well in advance.
- We will charge you additional administrative charge whenever your activity will result in abnormal usage of our resources and time, for instance administrative burden resulting from late rental payment.
- The late fees of £10 per month would be applicable.
7. If customer dies or becomes mentally incapacitated
- In the unfortunate event of your death or you become mentally incapable during your Contract with us, we are not obliged to allow access to any person claiming to have right over the estate in your box unless a grant of probate is produced or any document that legally and lawfully proves his/her claim.
- In the event the second named renter dies, you must inform us and provide a copy of death certificate. We will then amend our record.
- Any charge due arising from the time consumed by such circumstances must be paid by the rightful beneficiary before we allow access to the box.
- If you are under long term contract with us, you must give us prior notice at least one month ahead in written.
- If you terminate contract earlier you must pay us nominal administrative charge and the outstanding insurance premium for the rest of the contract or £30, whichever is higher. We will not charge you the actual outstanding rental charge of the box.
- You must return us 2 RFID cards and 2 keys in good condition which we are issued to you when you took contract. If the cards or the keys are damaged to a point where their functions are impaired or they are missing, you must pay us the charge accordingly as mentioned above under point 4.
- Upon successful termination of your contract, you must make sure and satisfy yourself that you have taken out all your contents.
9. Our obligation and rights
- We are obliged to provide you the service as set out in this Terms for the period of your contract unless you breach the Terms or any payment is due.
- We will take any necessary action appropriate as required to meet our obligation in prevention of fraud, money laundering and terrorist activity.
- If we receive court order or similar notice or instruction from the authority then we are obliged to let the relevant authority access your box, which may require opening your box forcefully if you do not cooperate.
- Any delay or failure on our part in exercising any of our rights shall not affect or waive any of our rights.
- While we make our utmost effort in providing you the service in uninterrupted and smooth manner, we cannot guarantee the same in the events and acts, beyond our control and influence; like riots, lockdowns, natural disasters, strikes of any sort, malicious damage, in the line of compliance with government order or law, accidents, failure of utility service and any such situation we do not have control over.
- The contract is not transferable.
- You take and accept full responsibility for all the acts of the second named renter in your box if you have one.
11. Limitation of our Liability
This point sets out our entire financial liability if we breach our terms or are negligent in providing you the service as per the Terms.
- We will not be liable for any losses you may suffer (whether direct, indirect, monetary, consequential), if we breach our Terms, except for those losses which are a reasonably foreseeable consequence of our breach. Such financial liability will be capped at twice the charges you have paid in the last twelve months.
- However, none of above limitations shall exclude our liability from; death or personal injury resulting from negligence; or any damage or liability to you as a result of our fraud; or any other liabilities which cannot be lawfully limited or excluded under British law.
12. Agreement as a whole
This Terms, together with our price list from our website and from any other valid source from us shall form whole agreement between us and you and supersedes any previous agreements or understandings.
- Any notices you want to or need to serve us under the Contract shall be in written form, and shall be delivered personally, or sent by prepaid first-class, recorded delivery or by commercial courier to the other party.
- Any notices delivered personally at relevant address or by any of other routes mentioned above shall be considered duly received, once they are received according to the standard time frame and ways they are intended to, by the respective routes type used for. All notices needed to be served under the contract shall not be considered validly served if sent by e-mail.
14. Law and Jurisdiction
All parties involved in the Contract agree that any dispute or claim arising out of, or in connection to the Contract shall be governed by the English Law.
15. If you do not pay our fees/charges
- If you fail to pay our fees on your due date, we will charge you late fees of £10 and we may restrict your access to your safe deposit box until all dues are paid.
- If you do not pay your total outstanding fees within 30 days of your due date, we will write you to make any such payments within another 30 days.
- If you still do not pay our fees in those 60 days, we will terminate your contract. We then in presence of an independent witness, use our locksmith to cut open your box and take possession of your contents. Such possession will be sold to recover our outstanding fees together with all charges of locksmith, new lock and keys, and fees of the independent witness if applicable.