Terms and Conditions
Please Read These Terms Carefully
1. Overview
Guduata Security & Safe Keeping Group ("we," "us," or "the Company") provides a secure storage service for valuable items such as gold, diamonds, and luxury goods. This service includes the establishment of a Storage Account (the "Account"), where customers can deposit their valuables for safekeeping.
These Terms and Conditions, along with the General Provisions outlined in other Agreements (the "Agreement"), govern our service. In case of any conflict, these Terms and Conditions shall prevail.
Definitions
"Valuables" refers to high-value items, including but not limited to:
- Gold
- Diamonds
- Rare art
- Luxury watches
- Other precious goods accepted by the Company
2. IMPLEMENTATION
Once we receive the necessary information from you, we will establish and maintain a Storage Account in your name. The Company will securely store any valuables you deposit or that we collect on your behalf, ensuring that they are safely held in the Storage Account. The Company will manage the security and protection of these valuables according to the provisions outlined in these Terms and Conditions.
3. DELIVERY AND RETURN OF VALUABLES
Guduata Security & Safe Keeping Group ("the Company") shall accept delivery of valuables, such as gold, diamonds, rare art, and luxury goods, that are acceptable for storage under our safekeeping service. Any valuables currently held by the Company for the Customer under any previous agreements will be deemed to have been deposited under these Terms and Conditions. The Company will not be responsible for
- verifying the authenticity, condition, or alterations of the valuables delivered,
- inspecting the items, or
- providing advice regarding the purchase, sale, retention, or disposition of the valuables.
The Company's role is strictly to provide secure storage, and it is the Customer's responsibility to manage and stay informed about their assets
The Customer authorizes the Company to use sub-custodians, such as trusted third-party security providers or facilities, to hold and manage the valuables in accordance with these Terms and Conditions. The use of sub-custodians will not alter the Company's responsibilities, and the Customer agrees that the Company shall not be held liable for any loss or damages arising from the actions or inactions of these sub-custodians.
With respect to the registration of valuables, the Company is authorized to register the items in its own name or the name of its sub-custodian unless the Customer provides alternative, acceptable instructions for registration.
4. CUSTOMER INSTRUCTIONS
All instructions provided by the Customer to Guduata Security & Safe Keeping Group ("the Company") regarding the safekeeping of valuables must be submitted in writing (including email) or through other identified means that are recognized as authorized by the Customer. The Company is relieved from liability for acting on any direction, whether oral or written, received in good faith and believed by the Company to be authentic. Verbal instructions, if provided, must be promptly confirmed in writing by the Customer. In cases where verbal instructions are not followed up with written confirmation, the Customer agrees to hold the Company harmless for any losses or issues arising from the Company acting on those verbal instructions in good faith.
If the Customer chooses to send instructions using one of the communication channels provided by the Company, the Company is authorized to act upon those instructions, provided that they follow the agreed-upon security procedures and methods for verification. These channels include any methods mutually agreed upon by the Customer and the Company, ensuring secure and reliable communication.
In the event that conflicting instructions are received regarding the same item or transaction, the Company will make reasonable efforts to resolve the conflict. However, the Company may rely on the first instruction it receives and is held harmless from any consequences, including losses, that may occur as a result of following the first received instruction.
5. DUTIES OF GUDUATA SECURITY & SAFE KEEPING
Titles to all valuables held in safekeeping with Guduata Security & Safe Keeping Group ("the Company") will remain in the Customer's name at all times. The Company will always adhere to the specific instructions provided by the Customer regarding the management, handling, and protection of their items. If the Customer requests the pledging or temporary release of any valuables, the written consent of the pledgee must be provided before such items are released. In the absence of written consent, the Company will substitute the pledged items with other valuables of equivalent value from the Customer's account and will issue new documentation to the pledgee.
6.COLLECTION AND RETURN OF VALUABLES
The Company is authorized to collect and return valuables as per the Customer's instructions. This includes retrieving valuables from storage, transferring them, or delivering them to the designated recipient, as required by the Customer. Any proceeds from the sale or redemption of such items will be credited to the Customer's designated account. While the Company will make every effort to ensure that items are collected and returned according to the Customer's wishes, it will not be held responsible for delays or failures caused by the Customer's actions, third-party providers, or external factors beyond the Company's control. The Company is also not liable for any defaults or failures to deliver from other parties involved in the transaction, including buyers, sellers, or agents.
7. STORAGES FESS AND LIABILITY
Guduata Security & Safe Keeping Group ("the Company") charges a storage fee for the safekeeping of valuables, which will be clearly outlined and agreed upon with the Customer. The Customer agrees to pay all applicable fees as specified in their chosen storage plan. These fees will be charged to the Customer's account on a periodic basis unless other payment arrangements are made in writing.
The Company is not responsible for any failure to store or protect items due to external factors such as natural disasters, theft, or damage caused by events outside the Company's control. The Customer agrees to indemnify and hold the Company harmless from any losses resulting from circumstances beyond our direct control. All storage fees will be clearly communicated in advance, and any changes to these fees will be agreed upon with the Customer in writing.
8. POWER OF ATTORNEY FOR VALUABLES MANAGEMENT
In addition to other rights granted to the Company, Guduata Security & Safe Keeping Group is authorized and empowered to execute any necessary documents, including certificates of ownership or other instruments, on behalf of the Customer. This authority enables the Company to fulfill its obligations regarding the safekeeping of valuables and to comply with any regulations that may apply, ensuring seamless management and protection of the Customer's assets.
9. ACCOUNT STATEMENTS
Guduata Security & Safe Keeping Group ("the Company") will provide the Customer with monthly statements that summarize the valuables stored in their account. These statements will be sent at the end of each month and will detail the items currently held in safekeeping, including any updates or changes to the inventory. The statement will also include any relevant service charges or adjustments to the account.
Customers are encouraged to review their statements promptly upon receipt to ensure the accuracy of the information provided. Should there be any discrepancies or issues with the items listed, the Customer should contact the Company immediately for clarification. Statements will be delivered via the communication method agreed upon by both parties.
10. RESPONSIBILITY FOR VALUABLES AND INSURANCE
Unless otherwise agreed upon in writing between the Customer and the Company, Guduata Security & Safe Keeping is not responsible for providing advice or guidance related to the buying, selling, or investment of the valuables stored with us. This includes, but is not limited to, the purchase, retention, sale, or disposal of any items in safekeeping.
The Company's role is strictly to safeguard and securely store the Customer's valuables in accordance with the agreed terms. We do not offer investment advice or manage the investment decisions related to the Customer's assets. In addition, the Company is not responsible for managing or investing any funds or cash proceeds from the sale of stored items, nor is it responsible for ensuring that the Customer's investments comply with specific goals or requirements. The Company's duties are ministerial in nature and limited to providing secure storage and related services, as expressly stated in these Terms and Conditions. Nothing in these Terms and Conditions or the services provided shall impose fiduciary responsibilities on the Company.
Customers are encouraged to review their statements promptly upon receipt to ensure the accuracy of the information provided. Should there be any discrepancies or issues with the items listed, the Customer should contact the Company immediately for clarification. Statements will be delivered via the communication method agreed upon by both parties.
11. DUTIES AFTER TERMINATION OF SERVICE
In the event of termination of the service, Guduata Security & Safe Keeping Group will return all valuables that remain in our custody to the Customer, following the Customer's instructions provided in accordance with Section 4 (Customer Instructions) above. Upon receiving clear instructions, the Company will securely deliver the Customer's valuables to the designated address or location as agreed
The Company will not be liable for any delays or issues in the return process if the Customer fails to provide timely or accurate instructions. Furthermore, the Customer remains responsible for any fees or outstanding charges related to the storage services up until the termination of the agreement.
12. INDEMNIFICATION
The Customer agrees to indemnify, defend, and hold harmless Guduata Security & Safe Keeping Group ("the Company"), its employees, agents, directors, and affiliates from and against any and all claims, liabilities, damages, losses, costs, and expenses (including legal fees) that may arise out of or in connection with the Customer's use of the Company's services. This indemnification extends to all actions or omissions of the Customer, including but not limited to the delivery, storage, or retrieval of valuables.
The Customer acknowledges and accepts full responsibility for ensuring that all items stored with the Company are legally owned by them or that they have the necessary authorization to store those items. The Company is not liable for any loss or damage to the items that may result from any illegal or improper actions taken by the Customer in relation to those items. For instance, if the Customer stores items that are obtained through unlawful means or fail to properly declare the nature of the items being stored, the Customer will hold the Company harmless from any legal or financial repercussions that arise from such actions.
Furthermore, the Customer agrees to indemnify the Company against any claims, damages, or losses arising from the failure to follow the storage procedures or to provide accurate information regarding the items stored. This includes any failure to notify the Company of changes to the stored items, or failure to comply with the storage plan and security measures put in place. In cases where the Customer authorizes a third party to access or retrieve their items, the Customer will still be held responsible for ensuring that all actions are in compliance with the terms of the agreement. Any dispute arising from third-party actions will also be the responsibility of the Customer.
In the event of any third-party claims related to the Customer's stored valuables, including disputes regarding ownership or damage, the Customer agrees to fully cover any costs incurred by the Company as a result of these claims. This indemnification covers not only the direct damages but also the Company's legal defense costs, even if the claim is unfounded or ultimately dismissed.
The Customer also agrees to indemnify the Company for any costs or losses associated with legal, governmental, or regulatory actions resulting from the Customer's failure to adhere to the applicable laws and regulations in the handling or storage of their valuables.
In all cases, the indemnification obligations outlined in this section will survive the termination of the storage agreement, ensuring that the Company remains protected from any claims, losses, or legal actions that may arise after the conclusion of the service. This provision is essential to maintaining the integrity and smooth operation of the service and helps ensure that the Company can continue to provide secure storage with confidence.