Terms of use for CoinZA

1. Acceptance of these terms

By creating an account, placing a bid, buying an item or otherwise using coinza.co.za, you agree to these Terms of Use and to our Privacy Policy. If you do not agree, please do not use the platform.

• Age: You confirm that you are at least 18 years old.
• Accuracy: You confirm that the details you register with, including your ID information, are true and correct.
• Law: You will use the platform in compliance with all applicable South African law, including FICA requirements for precious-metal purchases.

2. Buying and reservations

• Cart: Adding an item to your cart does not reserve it. Cart items are released and relisted automatically after 24 hours.
• Checkout: Checkout reserves your items for 3 days while payment is made. If payment is not received and approved within that window, the items are relisted automatically.
• EFT payments: EFT orders receive an invoice with a unique reference. Payments are matched manually against that reference before an order is confirmed.
• Wallet: Wallet balances are prepaid credit with Coinza, usable only on the platform. Wallet top-ups are credited once the corresponding EFT is received and approved.

3. Auctions

• Registration: You must agree to the auction terms and register to bid on each auction item. Registration closes 15 minutes before an auction ends.
• Bids: Bids rise in stated increments and are binding offers to purchase.
• Extension rule: Any bid placed in the final 2 minutes extends the auction by 2 minutes, repeatedly, until 2 minutes pass without a new bid.
• Settlement: The winning bidder pays from their wallet, or by EFT invoice within 3 days. Unpaid auction wins may be relisted and the underbidder approached.

4. Storage and delivery

• Vault storage: Purchased items may be stored with Coinza free for the first month, after which a monthly fee per item applies, updated automatically each month.
• Delivery: Delivery is by the options shown at checkout (for example PostNet, Pudo locker or insured courier to your door) at the fees shown. Dispatch happens only after payment, including any storage fees due, has been received and approved.
• Risk: Deliveries are insured in transit. Risk in an item passes to you on delivery, or on collection from the chosen branch or locker.

5. Pricing and VAT

• VAT: Where VAT applies to an item, the selling price shown is inclusive of VAT. Certain items, such as qualifying gold Krugerrands, are VAT exempt and are marked accordingly on their invoices.
• Spot-linked prices: Bullion and precious-metal prices track the live metal price plus a stated premium and may change without notice until checkout reserves the item.

6. Cancellations and returns

If an item is materially not as described, contact us within 7 days of delivery and we will make it right, by replacement, correction or refund. Items correctly described and graded are not returnable because of ordinary market movement in metal or collectable values.

7. Accounts and conduct

• Security: You are responsible for your login details and for activity on your account.
• Misuse: We may suspend or close accounts used for fraud, bid manipulation, abuse of staff, or breach of these terms.

8. Limitation of liability

To the maximum extent permitted by law, Coinza is not liable for indirect, incidental or consequential loss arising from your use of the platform, including loss attributed to market movement in the value of items bought or sold. The platform is provided as is and as available.

9. Changes to these terms

We may update these terms from time to time. The current version is always available on this page, and continued use of the platform after an update constitutes acceptance.