Terms and Conditions

Our Terms and Conditions


Please read these terms carefully before you submit your items to us. These terms tell you who we are and the service that we provide.

These terms, together with our privacy policy and website user and acceptable use polices govern our relationship with you.

  1. Who we are and how to contact us

    1.2     We are Bofaco Limited, trading as GoldMonkeys.Co.Uk, a company registered in England and Wales.  Our registration number is 10711138.  Our registered office is at Kemp House, 160 City Road, London, United Kingdom, EC1V 2NX.

    1.3     You can contact us by telephoning our customer service team at 0800 688 9230 or by writing to us at the above address or emailing us at hello@goldmonkeys.co.uk or via our website at http://goldmonkeys.co.uk/contact

    1.4     If we have to contact you we will do so by telephone or by writing to you at the email address or postal address you provided to us in your order.

  1. Eligibility

2.1     You must be at least 18 years of age and be resident in the UK in order to sell gold or sell silver items to us.

2.2     You must be the legal owner of all gold, jewellery and other property sold or attempted to be sold to us.

2.3     You must be acting on your own behalf and not as the agent or representative of another person.

2.4     We will ask you to sign a declaration which is contained in the gold selling pack we send out to you, but even if you don’t do this, you are still bound by these criteria and by the rest of the terms and conditions.

2.5     We may request that you provide documentation or other proof that complies with the requirements in these terms and conditions, such as proof of address and identity.  If you fail to do so, then we will not be bound to provide our services to you and we reserve the right to charge you the cost of returning your items back to you.

2.6     In the event that we discover that the items sent to us are stolen, damaged or are not fully owned by you, we have the option without prejudice to any other rights and remedies we may have to rescind the contract and, if we choose to exercise this right, we will notify you by telephone and/or by e-mail as soon as possible upon discovery by us. In this case, if an offer has been accepted by you, payment will not fall due. If we have already made payment, you must refund us the full purchase price paid within 7 days of receipt of notice from us.

  1. Illegal activity

3.1     You guarantee all of the following:

  1. that no items sent to us are the result of illegal activity in the UK or any other country;
  2. that any transaction initiated by you will not cause us to be in violation of any anti-money laundering, anti-terrorism, or other applicable law of any country;

III.      you agree not to send any hazardous material to us.

  1. Posting items to us

4.1     When you enter your details on our website, we will send you a free gold selling pack (“Pack”) which contains:

  • A customer information form for you to complete and sign
  • A Royal Mail Special Delivery envelope, as well as some protective packaging, for you to send the items to us
  • A reference to these Terms and Conditions on our website.

4.2     All items must be sent to us in the Royal Mail Special Delivery envelope enclosed in the Pack we send you. If you use this envelope, your goods are automatically insured for up to £500.  If you believe your goods are worth more, then you should purchase additional insurance at the Post Office before you post them.  If we buy your items and if you send us proof of purchase, we will refund any extra insurance you pay.

4.3     Please place your items inside the soft packaging we provide, to avoid any damage to the goods or to the envelope.

4.4     In each Pack there is an information form – you must fill this in accurately and completely, and sign the declaration at the end. If we receive forms which are incomplete, or packages which have been opened or otherwise tampered with, we reserve the right to reject the forms and return the items to you.  We will charge you the cost of return in this instance.

4.5     We can usually identify you as the sender of any items from the unique code on the Special Delivery envelope enclosed in the Pack. However, if you fail to enclose a customer information form, and we can’t identify you from the Special Delivery envelope, then you explicitly agree to our keeping your items for 28 days and thereafter, if we still haven’t heard from you, we will send them for refining and donate any proceeds to a local charity of our choice and you agree that we will have no liability to you in regards to these items whether in contract, tort (including negligence), breach of statutory duty, fiduciary duty or otherwise, for any loss of profit, or any direct or indirect or consequential loss, or any other loss arising as a result of our disposing of the items.

  1. Valuation, offer and acceptance

5.1     Any valuation given on the website is indicative only based on the information given by you, and will not be binding upon us. We reserve the right to amend or withdraw the valuation at any time without liability to you.

5.2     You understand that, in order to determine the value of the metal you send us, we may place acids on the gold, silver, platinum or other items, or scratch away the surface so as to test beneath any plate. This usually leaves permanent staining and/or deep scratches. We also reserve the right to remove any gemstones; these do not usually have any intrinsic value but if they do, we will reflect that in our offer to you. You understand that we are not liable for any damage caused in this way or any resulting decrease in the value of the items if you choose not to accept our offer for them.

5.3     After evaluating your items, we will contact you to confirm the initial valuation given, or provide a revised valuation where (i) the item does not fully comply with the information provided during the valuation process; (ii) the condition is such that it has a substantial impact on the value of the item; (iii) other relevant factors not disclosed affect the valuation; and/or (iv) for any other reason.

5.4     We will try to make contact with you using the telephone phone number you provide, either via a phone call or (if you provide a mobile phone number) via text.

5.5     If we fail to make contact initially, we will send you an email or text with a number to call. When we make you an offer, it will be valid for 24 hours, given the volatility of gold and other precious metals.

5.6     A contract will only be formed once you have accepted our formal offer.

5.7     We reserve the right to record all calls made and may use these recordings as evidence in any dispute.

5.8     If you accept our offer:

5.8.1  We will immediately send your gold, silver or platinum to be melted down and discard any items of no value (such as small jewellery stones of no value) unless you specifically request otherwise and pay any applicable administrative charges to return these items to you.

5.8.2  After you have accepted our offer, we will arrange payment details with you. We will pay by one of the following payment methods, no later than the next working day after you accept our offer:

  • Bank Transfer to your UK Bank Account. We can pay straight into the account of your choice in the UK, with funds leaving our account the next working day after you agree to our offer. There is no charge for this service. We will send you a payment receipt confirming the money has been transferred.
  • We can send a cheque the next working day after you have agreed to our offer – at no charge to you. We will only send cheques made payable to the person named on, and to the address stated on the identification form.
  • We can pay an account allocated to the email address specified in your original order.

5.9     If you reject our offer:

5.9.1  If you choose not to accept our offer, we will return the item(s) to you, at no cost, by Royal Mail Recorded Delivery, insured up to £50. If you would like the item(s) insured for more than £50, please let us know before we post the item and you can pay for the additional insurance.

5.9.2  If, after 7 days, we have been unable to contact you, we will return the items to the name and address provided by Royal Mail. We will retain proof of postage but will not insure the items and will bear no liability if they are lost.

  1. Mistakes in offers made

We use our best endeavours to ensure that we communicate our offer to you correctly, but it is always possible that, despite our best efforts, some errors may occur.  If you accept the offer where the error is obvious and unmistakable and could reasonably have been recognised by you as a mistake, we will not be bound by the offer.

  1. Our rights to end the contract

7.1     We may end the contract if you break it, for example if:

(a)      you do not, within a reasonable time of us asking for it, provide us with information that is necessary for us to make payment to you;

(b)      you do not, within a reasonable time, allow us to deliver back items to you;

(c)      you send to us items that have no precious metals value;

7.2     You must compensate us if you break the contract. If we end the contract in the situations set out above, or elsewhere in these terms and conditions, unless a specific sum is stated, then we shall charge you reasonable compensation for the net costs we will incur as a result of your breaking the contract.

  1. Other important terms

8.1     You agree that we are not liable in any way if Royal Mail refuses any insurance claims in relation to your items.

8.2     If you send us goods that do not contain precious metals, we will notify you of that fact and there we reserve the right to charge a £20 administration fee to return those goods to you.  If we request payment, then such payment will be due within 28 days of our notification to you and, if it is not made, we will dispose of the items as we see fit. In any event, you agree that we will have no liability to you in regards to these items whether in contract, tort (including negligence), breach of statutory duty, bailment, unjust enrichment or fiduciary duty or otherwise, for any loss of profit, or any direct, indirect or consequential loss, or any other loss arising as a result of our disposing of the items.

8.3     You agree to indemnify us against any and all liability, claims, suits, losses, costs and legal fees caused by, arising out of, or resulting from any breach or claimed breach by you of these terms and conditions, including claims brought by third parties.

8.4     We are not responsible for delays outside our control. If any of our obligations under these terms and conditions is delayed by an event outside our control, then we will use our best endeavours to contact you and to take steps minimise the effect of the delay. Provided we do this we will not be liable for delays caused by the event.

8.5     We may transfer our rights and obligations under these terms to another organisation without notification to you.

8.6     You may only transfer your rights or your obligations under these terms to another person if we agree to this in writing.

8.7     This contract is between you and us. No other person shall have any rights to enforce any of its terms.

8.8     If a court finds part of this contract illegal, the rest will continue in force. Each of the paragraphs of these terms operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.

8.9     Even if we delay in enforcing this contract, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under these terms, or if we delay in taking steps against you in respect of your breaking this contract, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date. For example, if you miss a payment and we do not chase you but we continue to provide the products, we can still require you to make the payment at a later date.

8.10    These terms are governed by English law and you can bring legal proceedings in respect of our services in the English courts.

8.11    Alternative dispute resolution. Alternative dispute resolution (ADR) is a process where an independent body considers the facts of a dispute and seeks to resolve it, without you having to go to court. If you are not happy with how we have handled any complaint, you may want to contact an ADR however, as we are not presently members of any ADR scheme, we reserve the right not to participate in the ADR that you have chosen. In addition, please note that disputes may be submitted for online resolution to the European Commission Online Dispute Resolution platform.

9. Best Price Guarantee

We guarantee to beat any offer for your scrap gold (by at least £1) so long as it is from a comparable gold buyer (ie one who offers free insured postage, and the ability for you to lock in your selling price) and is made in writing, addressed to you and specifying the weight and quality of your gold and silver. Our Guarantee also includes the £10 extra we give to first time customers for all items returned within 48 hours.

10. Refer a Friend Scheme

10.1 We may provide you with a unique code which you can give to friends and family for them to enter on our website. If any individual residing at a different address to you sells us more than 20g of gold, we shall give you £20 by bank transfer or cheque.

10.2 There is no limit on the number of people who customers can refer.