Terms of Advisory Plan

2. Orders for products or services An order for a product or service refers to provision of a product or service to a primary member or his/her associates would own, such as a 1kg gold bullion bar. The rates for such a product would have been discussed or communicated with the primary member, via any of InProved’s website or digital platforms, or through other correspondences and meetings, and these would be set out from time to time and be communicated to the primary member.

2.1. Payment The payment for an order must be sent (initiated) within one banking day from the order placement for all payment methods except for online Credit/Debit card payments where the payment must be made within 24 hours and except for cryptocurrencies where the payment must be sent (initiated) within 20 minutes. If an order is placed during a non-banking day, the payment must be initiated the next banking day. In the case of a bank transfer, the Transaction Date/Time stamp, which is obtained when placing the order, should, if possible, be marked in the message field of the bank transfer form used for transmitting payment to the recipient/beneficiary, InProved. For e.g, “Transaction initiated DD/MM/YYYY HH:MM SGT”.

2.2. Payment When purchasing from InProved’s location in Singapore, only the following payment methods are used: Paynow, FAST, Telegraphic Transfer, Credit and Debit card payment and cryptocurrency. InProved does not accept letter of credits, banker’s guarantees, e-checks and Billpay for its Singapore location.

2.3. Funds The funds must reach InProved within four (4) banking days of placing the order. InProved reserves the right to demand payment sooner than the above-mentioned time frame. In such cases, the primary member will be contacted after placing the order. All bank charges are fully borne by the primary member.

2.4. Incomplete transfer of funds If the payment is not initiated or completed within the stipulated timeframe, InProved reserves the right to cancel the order whereupon the primary member warrants to immediately pay InProved an administrative fee of S$60. In addition, the primary member warrants to pay InProved any negative difference in price for the products ordered from the time the order was placed to the time when the order was canceled, as well as any other costs incurred when processing the aborted order including but not limited to costs for sending out reminders, collection fees, legal fees and court fees. The invoice for an aborted order, if not paid, may be handed over to a collection agency or to a court for collection. The primary member agrees and understands that if the primary member has unsettled invoices, such as outstanding invoices for products or cancellation fees, any funds paid to InProved will be allocated towards the unsettled outstanding debts first starting with the earliest outstanding debt. As precious metals orders are binding without exception, InProved reserves the right to use all and/or any of the funds paid in by the primary member towards fulfilling previous orders regardless of whether the transaction status has been changed to “aborted” or not or towards the administrative fees charged or towards the charges for any negative difference in price for the products placed under the aborted transactions. If only partial funds for an order have been received, InProved will remind the primary member to settle the outstanding owed amount. If full payment has not been received within twenty-eight (28) days of the order placement, InProved reserves the right to abort the transaction, and the primary member warrants to pay InProved an administrative fee of S$60 and credit any remainder to the primary member’s InProved cash account.

2.5. Full responsibility The primary member bears full responsibility for Crypto transfer. The primary member acknowledges that the primary member bears the full responsibility to send funds, including cryptocurrency funds, to the correct account number or cryptocurrency address as designated by InProved on the order confirmation. For Bitcoin Cash, the primary member acknowledges that InProved only accepts and sends coins from the Node chain and does not accept or send coins from the Bitcoin ABC chain or Bitcoin Cash SV chain.

2.6. Right to return funds The primary member acknowledges that InProved reserves the right to return the funds, if possible, and/or terminate the order if there are doubts over the owner, identity or origins of the funds. InProved reserves the right to conduct Customer Due Diligence (CDD) or Enhanced Customer Due Diligence (ECDD) on the primary member in accordance with the regulatory regime for precious metals dealers in Singapore. The CDD or ECDD may include requests for information verifying the primary member’s identity by obtaining information about NRIC number, passport number, occupation, nationality, address, date of birth and contact number. The primary member may be required to show proof of identifying information which InProved may copy. The CDD or ECDD may also include requests for information to establish the beneficial owner of funds or metals, questions and verification about income level, source of wealth and source of funds and whether the primary member is indeed the individual, entity or representative of the entity behind the purchase. Where InProved has not received adequate information for the conduct of CDD or ECDD as the case may be, or deems that it is unable to complete CDD or ECDD satisfactorily with the information made available to InProved, InProved reserves the right to cancel the order, place the order on hold, or terminate any and all transactions with the primary whereupon the primary member shall release InProved from all liabilities flowing from any consequential refusal to, delay in, or cancellation of transaction with the primary member. InProved will not be responsible for any losses due to insufficient/unclear transaction or identification details provided by the primary member.

The primary member acknowledges that any unclaimed funds of unknown origin accrue to InProved following a period of five years from the funds received by InProved.

2.7. Cash/NETS/Card Payment For orders placed with InProved Singapore, the primary member may choose to meet InProved’s authorized representatives to place an order for cash, NETS or card payment or may choose to place an order online with cash, NETS or card payment as payment method. In the case where the primary wishes to meet InProved’s authorized representative, the primary member must make an appointment via InProved contact us page, appointment is mandatory.

InProved reserves the right to conduct CDD or ECDD on a primary member paying cash generally and specifically in a case where the amount is above SGD 20,000 or equivalent in foreign currency. The CDD or ECDD may include requests for information verifying the primary member’s identity by obtaining information about NRIC number, passport number, occupation, nationality, address, date of birth and contact number. The primary member may be required to show proof of identifying information which InProved may copy. The CDD or ECDD may also include requests for information to establish the beneficial owner of funds or metals, questions and verification about income level, source of wealth and source of funds and whether the primary member is indeed the individual, entity or representative of the entity behind the purchase. If no supporting information is provided, InProved reserves the right to cancel the order or place the order on hold. If InProved is unable to obtain the primary member’s identifying information, after requesting for it, the primary member understands that regulations may prohibit InProved from completing the transaction and that InProved may have to terminate any other transaction entered into with the primary member.

InProved reserves the right to change the payment method, from cash or card payment to payment via bank account. InProved will in such a case notify the primary member and may give the primary member a grace period to be able to transfer or deposit the funds to any of InProved’s bank accounts.

2.8. Cheque Payment For orders placed with InProved Singapore, a primary member may choose to place an order in the shop or online using cheque as payment option. In the case where cheque is requested as a payment method, the primary member is required to send or hand over the cheque to InProved within one banking day from the order placement day.

All cheques must clear with the funds irrevocably available in InProved’s account before any delivery is initiated.

2.9. Cryptocurrency Payment Where a primary member makes a payment to InProved in cryptocurrency for an order or commits to receiving payment from InProved in cryptocurrency, the primary member hereby gives consent to InProved to hedge the transaction on a best-effort basis (referred to as “Leg 1”). In the event that any part of the cryptocurrency or fiat amount needs to be returned due to the termination, cancellation, or modification of an order, or for any other reason, InProved retains the right to unwind the hedged cryptocurrency or fiat amount from Leg 1 on a best-effort basis (referred to as “Leg 2”). The primary acknowledges and agrees to bear any loss that may result from a price fluctuation between Leg 1 and Leg 2.