TERMS AND CONDITIONS

1.     Introduction and Legal Framework

G D and M is a trademark owned by Kemet Precious Metal L.L.C (the "Company") is a licensed entity incorporated under the laws of the Kingdom of Bahrain. The Company is a regulated Designated Non-Financial Business and Profession (DNFBP) subject to the oversight of the Ministry of Industry and Commerce (MOIC) and the Financial Intelligence Directorate (FID).

2.     Eligibility and Legal Capacity

In accordance with the Bahraini Civil Code, users must be at least 21 Gregorian years of age to enter into binding contracts. By using this Platform, you warrant that you are of full legal age and possess the legal capacity to conduct financial transactions.

3.     Licensing and Official Hallmarking Compliance

The Company warrants that all gold and diamond products offered for sale are certified and hallmarked in full compliance with the Decree-Law No. (19) of 2013 regarding the Control of Precious Metals. All items bear the Official Hallmark of the Kingdom of Bahrain issued by the Jewellery Testing and Hallmarking Directorate.

4.     Mandatory Account Registration (KYC & AML)

In compliance with Decree-Law No. (4) of 2001 (Anti-Money Laundering Law), account registration is mandatory. Customers shall not be permitted to conduct any sales or transactions without an active verified account.

4.1  Mandatory Account Creation

In compliance with Decree-Law No. (4) of 2001 (Anti-Money Laundering Law), account registration is mandatory. Customers shall not be permitted to conduct any sales or transactions without an active verified account.

4.2  Required Registration Data

To comply with DNFBP regulations in the Kingdom of Bahrain, the account creation process must mandatorily include the collection of the following:

1.   Full Legal Name (as per the identity document).

2.   Date of Birth and Nationality

3.   Current Occupation or nature of business.

4.   Identification Type: We strictly accept only a valid Bahraini CPR (National ID) for residents or a valid Passport for non-residents.

5.   Identification Document Expiry Date.

6.   Verification and Reporting: The Company reserves the right to verify the authenticity of the uploaded documents.

5.     Mandatory Account Registration (KYC & AML)

Per Decree-Law No. (4) of 2001 (Anti-Money Laundering Law), account registration is mandatory. Users must provide a valid Bahraini CPR (National ID) or a Passport with a valid residency visa (for expatriates). Guest checkouts are strictly prohibited.

6.     Mandatory Banking Channels (USD 15,000 Threshold)

In accordance with Central Bank of Bahrain (CBB) and MOIC directives, payments for any transactions exceeding USD 15,000 (or its equivalent in BHD) must be executed exclusively through official banking channels (Bank Transfer or Direct Deposit). The Company is strictly prohibited from accepting cash for values exceeding this threshold.

7.     Value Added Tax (VAT) Treatment

In accordance with the Decree-Law No. (48) of 2018 regarding VAT:

·        Investment Gold: Pure gold/silver of 99% purity or higher is subject to 0% VAT (Zero-Rated).

·        Jewelry: Standard VAT of 10% applies to non-investment items as per the National Bureau for Revenue (NBR) standards for 2026.

8.     Real-Time Pricing and Market Volatility

Prices are linked to international spot markets and fluctuate in real-time. gold and diamond is exempt from the standard return rights under the Consumer Protection Law because its value is dependent on financial market fluctuations beyond the Company’s control.

9.     Returns, Refunds, and Order Cancellations

9.1  Returns and Exchanges Policy

Due to the nature of our products (precious metals and gemstones) and their direct link

to global market price fluctuations, GD&M operates under a strict No Return, No Exchange policy:

·        Final Sale: Once a transaction is completed and the item has been dispatched or taken from the premises, it is considered a final sale. Items cannot be returned for a refund or exchanged for other pieces if the item is free from manufacturing defects.

·        Exceptions for Manufacturing Defects: In accordance with Bahrain Law No. 35 of 2012 (Consumer Protection Law), returns or exchanges will only be entertained if a technical manufacturing defect is identified or if the item does not match the legal fineness (karat) or specifications stated on the invoice.

·        Conditions for Defective Claims:

o  Claims must be made within 15 days of the purchase date.

o  The item must undergo a technical inspection by our workshop to ensure it has not been subjected to misuse, accidental damage, or third-party alterations.

o  The original invoice and authenticity certificates must be presented.

·        Deductions: In any exceptional case where a refund is authorized by management, please note that making charges (labor fees), shipping costs, and government taxes/VAT are strictly non-refundable. Only the net value of the gold/precious stones will be considered.

9.2  Buy-Back & Gold Investment 

In accordance with Bahraini trade standards for precious metals:

·        Gold Jewellery Buy-Back: We offer cash buy-back at the prevailing market rate. Standard deductions include 100% of making charges and a 4% processing fee from the benchmark gold rate.

·        Diamond & Gemstone Buy-Back: Buy-back is typically valued at 80-85% of the prevailing diamond market price and 100% of the gold value at the time of transaction.

·        Identity Verification: Per Bahrain Financial Intelligence Unit (FIU) regulations, customers must provide a valid CPR (Smart Card) or Passport for all buy-back transactions. 

9.3  Refunds & Cancellations

• No Cancellation Policy: Once an order is confirmed by the customer (either through payment, deposit, or final confirmation), it cannot be canceled, amended, or revoked under any circumstances.
• Immediate Commitment: Confirmation of the order constitutes a binding legal agreement to purchase. Since gold prices are fixed at the moment of order confirmation based on the prevailing global market rates, the customer is fully liable for the total order value.
• Custom and Standard Items: This policy applies equally to all items, including standard stock, customized pieces, and investment gold.

10.  User Guarantees and Ultimate Beneficial Ownership (UBO)

The User guarantees that they are the Ultimate Beneficial Owner of the purchased goods and that funds are derived from lawful sources.

11.  Anti-Commercial Fraud and Quality Assurance

In accordance with Bahraini Law, the Company prohibits the sale of counterfeit or adulterated metals. Any attempt to return fraudulent gold or diamond will be referred to the Public Prosecution.

12.  Enforcement of Terms and AML Audits

The Company reserves the right to verify documentation and conduct Enhanced Due Diligence (EDD) to satisfy the requirements of the Ministry of Industry and Commerce (MOIC) and FID audits.

13.  Company Responsibilities

The Company is responsible for platform security, hallmark integrity, and ensuring data processing complies with the Personal Data Protection Law (30/2018).

14.  Intellectual Property and Software

The Platform and its pricing algorithms are protected by Bahraini Intellectual Property laws. Unauthorized scraping or "bot" usage is strictly prohibited.

15.  Limitation of Liability and Remedies

The Company’s liability is limited to the actual amount paid by the User. Consequential losses or losses due to gold price drops after purchase are expressly excluded.

16.  Manifest Pricing Errors

In the event of a technical glitch showing a price significantly different from the 2026 market rate, the Company reserves the right to cancel the order and provide a full refund.

17.  Disclaimer

17.1        Market Price Fluctuation