Precious Metals Investment Terms and Disclosures

Terms:

STORAGE AND DELIVERY OF PRECIOUS METALS: All precious metals are stored at a specialized depository selected by you. I understand and agree there are numerous depositories that specialize in storage and safekeeping of precious metals. I understand that New Direction Trust Company (“NDTCO”) is not and cannot be held responsible for the actions of these depositories and hereby release and hold harmless NDTCO from any damages that I may incur with respect to my choice of depository and any activities or lack of activities on the part of said depository.

I understand a full year is collected and paid to the depository at the time of the transaction. Broker/Dealers deliver directly to the depository, which will forward confirmation of receipt. NDTCO relies on the accuracy of delivery details and holdings reports provided by the depository to update the individual account holdings. NDTCO makes a reasonable effort to update metals delivery status; however, it is the customer’s responsibility to monitor account assets, including follow up with the Broker/Dealer with specific transaction details and/or delivery inquiries.

DEPOSITORY FEES: NDTCO does not assess the depository fees. Additional fees may apply beyond the annual storage fee, such as handling charges, shipping fees, armored car delivery or personal pick up. I acknowledge that I have elected to store my self-directed precious metals investment with my existing depository. The storage fee will be payable at the time of investment. An additional fee will be assessed and collected by NDTCO. Storage fees may be paid via NDTCO’s client portal from cash in the account or by credit card.

I acknowledge that by submitting this request I will contact my dealer of choice and agree upon a selling and buying price for my metals. I will submit an invoice, which will list all final prices. I also understand that my Precious Metals Dealer listed on this form may contact NDTCO to receive information regarding this investment and current holdings to complete the exchange. 

I understand that NDTCO is not responsible for contacting the dealer and establishing a selling or buying price. 

I understand NDTCO is not responsible for Market Condition Variances.  I understand that I have agreed and instructed NDTCO to follow the transaction directions which I provide, as confirmed by this form.

I further understand that some transactions that I may direct or instruct NDTCO to complete, especially commodities such as precious metals, that may be dependent upon the operation of global markets and entities, there could be fluctuations in price and condition of said investments from the time that I issue a Buy or Sell Direction Letter to NDTCO and the time when the transaction can actually be completed and recorded in my Account.

Arbitration of Claims—ARBITRATION OF DISPUTES. PLEASE READ THIS ARBITRATION PROVISION CAREFULLY. IT PROVIDES THAT ANY CONTROVERSY OR DISPUTE BE RESOLVED BY BINDING ARBITRATION. ARBITRATION REPLACES THE RIGHT TO GO TO THE COURT, INCLUDING THE RIGHT TO A JURY AND THE RIGHT TO PARTICPATE IN A CLASS ACTION OR SIMILAR PROCEEDING.

Agreement to Arbitrate. The depositor and NDTCO and/or NDIRA agree that either the depositor or NDTCO and/or NDIRA may, without the other party’s consent, require that any claims between them be submitted to mandatory, binding arbitration.

Claims Subject to Arbitration included but are not limited to: Any controversy arising out of or relating to this agreement or the breach thereof, or to the IRA or any transactions authorized by the depositor and/or their agent as well as any claim that may arise regarding your Custodial Assets.

Arbitration location, finality, procedures, waiver of jury trial, class action or any representative action. The depositor agrees that Arbitration will occur in Johnson County, Kansas according to the commercial rules of the American Arbitration Association. The depositor agrees that Arbitration is final and binding on both parties. The depositor and NDTCO and/or NDIRA are voluntarily waving their right to seek remedies in court, including their right to a jury trial. Claims made as part of a class action or other representative action, and the arbitration of such Claims must proceed on an individual, non-class, and non-representative, basis. If the depositor or NDTCO and/NDIRA require arbitration of a particular Claim, neither party nor any other person, may pursue the Claim in any litigation, whether as a class action, private attorney general action, or other representative action. Pre-arbitration discovery is limited than and different from court proceedings. If any portion of this arbitration provision is deemed invalid or unenforceable, the remaining portions will nevertheless remain in force.

LIMITATION ON LIABILITY; WAIVER OF PUNITIVE DAMAGES. IN NO EVENT SHALL ANY PARTY HAVE A REMEDY OF, OR BE LIABLE TO THE OTHER FOR, (1) INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES OR (2) PUNITIVE OR EXEMPLARY DAMAGES. THE SAME OF THE PARTIES HEREBY EXPRESSLY WAIVES ANY RIGHT OR CLAIM TO PUNITIVE OR EXEMPLARY DAMAGES THEY MAY HAVE OR WHICH MAY ARISE IN THE FUTURE IN CONNECTION WITH ANY SUCH PROCEEDING, CLAIM OR CONTROVERSY, WHETHER THE SAME IS RESOLVED BY ARBITRATION, MEDIATION, JUDICIALLY OR OTHERWISE.

I understand there are numerous depositories that specialize in storage and safekeeping of precious metals. I understand NDTCO is not and cannot be held responsible for the actions of these depositories. I hereby release and hold harmless NDTCO from any damages that I may incur with respect to my choice of depository and any activities or lack of activities on the part of said depository.