On Spot Silver, LLC

1. Acceptance of Terms

By accessing or using this website and placing an order with On Spot Silver, LLC (“Company,” “we,” “our,” or “us”), you agree to be bound by these Terms of Service and our Privacy Policy.

If you do not agree, you must not use our services.

2. Eligibility

You represent and warrant that you:

  • Are at least 18 years of age
  • Have the legal capacity to enter into a binding contract
  • Will provide accurate, current, and complete information

We reserve the right to refuse service at our discretion.

3. Nature of Bullion Products

All products sold, including gold, silver, and other precious metals:

  • Are commodity-based assets
  • Priced based on live spot market conditions
  • Subject to rapid and unpredictable price volatility

Prices may change at any time without notice until an order is confirmed.

4. Order Formation & Binding Agreement

An order becomes a binding contract when:

  • You complete checkout, and
  • We issue an order confirmation

At that point:

  • Pricing is locked
  • The transaction is final and non-cancelable, except where required by law

We reserve the right to cancel or refuse any order due to:

  • Pricing or system errors
  • Suspected fraud
  • Compliance or legal concerns

5. Pricing & Payment Terms

Price Lock

Prices are locked at the moment of order confirmation.

Accepted Payment Methods

We may accept:

  • Bank wire / ACH
  • Credit or debit cards
  • Other approved payment methods

Payment Authorization

You represent that:

  • You are authorized to use the payment method
  • All payment information is accurate

Payment Deadline

Failure to submit payment within the required timeframe may result in:

  • Order cancellation
  • Market loss liability
  • Additional fees

6. Pricing Errors & Spot Price Feed Disclaimer ⚠️

We strive to ensure all pricing is accurate; however, errors may occur due to:

  • Third-party pricing feeds or API failures
  • Delays in spot price updates
  • System malfunctions or technical issues
  • Human or listing errors

Right to Cancel

We reserve the right to:

  • Cancel any order affected by pricing errors
  • Refuse to honor incorrect pricing
  • Void transactions containing material inaccuracies

This applies even if the order has been confirmed or payment received.

Refunds for Pricing Errors

If canceled:

  • A full refund will be issued
  • We are not liable for market gains, losses, or missed opportunities

Definition of Error

Includes:

  • Prices significantly below market value
  • Incorrect spot calculations
  • Technical display errors

No Obligation to Honor

You acknowledge that:

  • Bullion pricing is market-driven
  • Errors may occur
  • We are not obligated to honor incorrect prices

7. Cancellations & Market Loss Policy

Due to volatility:

  • All sales are final
  • Orders cannot be canceled without penalty

If you fail to complete payment:

  • You are responsible for market losses
  • Fees may apply
  • We may pursue collections or legal action

8. Shipping, Delivery & Risk of Loss

Shipping

Orders ship after cleared payment.

Risk Transfer

Risk transfers to the customer upon delivery to the carrier unless required otherwise by law. All orders will be insured for purchase price during shipping.

Delivery

  • Signature WILL be required
  • Customers must report issues promptly

We are not responsible for carrier delays.

9. Returns & Refunds

All bullion sales are final.

Exceptions only for:

  • Incorrect shipments
  • Verified defects

10. Identity Verification & Fraud Prevention

We may:

  • Request identification
  • Verify transactions
  • Delay or cancel suspicious orders

11. IRS Reporting & Legal Compliance

We comply with all applicable laws including IRS regulations, BSA, and AML laws.

Form 8300

We report cash transactions over $10,000 and related transactions.

Anti-Structuring

We prohibit attempts to evade reporting and may report suspicious activity.

1099-B

Certain transactions may be reported where required.

12. Anti-Money Laundering (AML) & Fraud Prevention

On Spot Silver, LLC is committed to preventing fraud, money laundering, and other illegal activities. We comply with all applicable laws and regulations, including the Bank Secrecy Act (BSA) and anti-money laundering (AML) requirements.

Monitoring & Review

All transactions are subject to review and monitoring for:

  • Suspicious activity
  • Unusual purchasing patterns
  • High-risk payment behavior
  • Potential fraud or identity theft

We reserve the right to investigate any transaction at our sole discretion.

Identity Verification

To comply with legal obligations and reduce fraud, we may require:

  • Government-issued identification
  • Proof of address
  • Payment method verification
  • Additional documentation

Orders may be delayed, canceled, or refused if verification cannot be completed.

Refusal or Cancellation of Transactions

We reserve the right to:

  • Refuse service to any individual or entity
  • Cancel or delay orders suspected of fraud or illegal activity
  • Limit transaction amounts or payment methods

These actions may be taken without prior notice where permitted by law.

Reporting Obligations

We may report transactions or customer information to appropriate authorities if required by law or if we suspect:

  • Money laundering
  • Fraudulent activity
  • Attempts to evade reporting requirements

This includes compliance with:

  • IRS reporting requirements (including Form 8300)
  • Federal and state law enforcement requests

Prohibited Activities

You agree not to use our services for:

  • Money laundering or structuring transactions
  • Fraudulent purchases or payment methods
  • Acting on behalf of undisclosed third parties
  • Any illegal or unauthorized purpose

Cooperation with Authorities

We reserve the right to:

  • Cooperate fully with law enforcement and regulatory agencies
  • Provide records and transaction data as required

No Liability for Compliance Actions

We are not liable for:

  • Delays or cancellations due to compliance reviews
  • Refusal of transactions for legal or risk-related reasons
  • Any losses resulting from such actions

13. Tax Disclaimer

You are responsible for:

  • Sales/use tax
  • Capital gains tax
  • Any applicable duties or fees

Precious metals may be classified as collectibles.

We do not provide tax or legal advice.

14. Card Payments, Chargebacks & Processor Compliance

Authorization

You authorize all charges and confirm payment validity.

High-Risk Acknowledgment

You understand bullion transactions are:

  • Irreversible
  • Market-dependent
  • Final once confirmed

Fraud Prevention

We may verify identity and cancel high-risk transactions.

No Chargebacks

You agree not to initiate disputes except for:

  • Unauthorized transactions
  • Failure to deliver

Chargeback Liability

Improper disputes make you liable for:

  • Full transaction amount
  • Market losses
  • Fees and legal costs

Evidence Submission

We may submit transaction and verification data in disputes.

Account Restrictions

We may suspend accounts and refuse service.

15. Checkout Agreement

Required Acknowledgment

At checkout, you must agree to the following:

☐ By placing this order, I confirm that I have read and agree to the Terms of Service. I understand that precious metals prices are volatile and are locked at the time of purchase. All sales are final, and cancellations may result in market loss liability. I agree not to initiate chargebacks except in cases of unauthorized transactions or failure to deliver.

Binding Effect

By completing checkout:

  • You enter a legally binding agreement
  • You accept all transaction risks
  • You agree to all Terms

Record of Acceptance

We may store:

  • Timestamp
  • IP address
  • Terms version
  • Order details

16. Privacy

Your use of our services is governed by our Privacy Policy.

17. Limitation of Liability

To the fullest extent permitted:

  • We are not liable for market losses
  • We are not liable for indirect damages
  • Liability is limited to the purchase amount

18. Indemnification

You agree to indemnify and hold harmless On Spot Silver, LLC from claims arising from:

  • Breach of Terms
  • Misuse of services
  • Violations of law

19. Force Majeure

We are not liable for events beyond our control, including:

  • Market disruptions
  • Shipping delays
  • Natural disasters
  • Government actions

20. Governing Law

These Terms are governed by the laws of North Carolina, USA.

21. Modifications

We may update these Terms at any time. Changes will be posted on this page.

22. Contact Information

On Spot Silver, LLC
Email: info@onspotsilver.com