Terms of Use

01Acceptance and binding agreement

These Terms of Use (“Terms”) form a legally binding agreement between you and Tracemetal Private Limited, a company incorporated under the Companies Act, 2013 (CIN U32111KA2024PTC187918) (“Tracemetal”, “we”, “us” or “our”).

These Terms are an electronic record under the Information Technology Act, 2000 and the rules made under it, and do not require a physical or digital signature. By accessing or using our website, submitting a valuation request, or engaging our services, you confirm that you have read, understood and agree to be bound by these Terms and our Privacy Policy. If you do not agree, do not use the website or our services.

02Definitions

• Services means facilitating the closure of your gold loan with a Lender, the purchase of the released gold by Tracemetal, related valuation, testing and documentation, and referrals, as described on the website.
• Lender means any bank, non-banking financial company, co-operative bank, pawnbroker or other person with whom your gold is pledged.
• Gold means gold jewellery, ornaments, coins, bars or other articles offered by you for release and sale.
• Transaction Documents means the Gold Release & Sale Agreement, authority letter, declaration of ownership, valuation report, purchase invoice and any other document signed by you for a transaction.
• Purchase Price means the price payable by Tracemetal for the Gold, determined under section 8.

03Eligibility

You may use the Services only if you:

• are at least 18 years of age and competent to contract under the Indian Contract Act, 1872;
• are a resident of India holding a valid PAN and an officially valid document for identity and address;
• are the lawful and absolute owner of the Gold, or are duly authorised in writing by its owner; and
• are not barred from receiving services or entering into contracts under any applicable law.

Where you act on behalf of a firm, company or other entity, you confirm that you are authorised to bind it, and these Terms apply to that entity.

04Nature of our business

Tracemetal is a buyer of gold. We help you close an existing gold loan and then purchase the released Gold from you. Tracemetal is not a bank or a non-banking financial company. We do not grant loans, accept deposits, or provide investment, tax or financial advice.

Any amount we pay to your Lender is paid solely as part of the consideration for the purchase of your Gold, on your instruction and on your behalf. It is not a loan to you. Where we refer you to a Lender for a gold loan takeover, the loan is a contract solely between you and that Lender, and Tracemetal is not responsible for its terms or performance.

05Website information and estimates

Gold rates, percentages, examples and calculator results on the website are indicative only. They do not constitute an offer, quotation or commitment to buy at any price. Gold prices change continuously. The actual Purchase Price is determined only under section 8 and recorded in the Transaction Documents.

We try to keep website information accurate and current but do not warrant that it is complete, error-free or suitable for any purpose. We may change, suspend or withdraw any part of the website or Services at any time without notice.

06Your representations and warranties

Each time you request or use the Services, you represent and warrant to Tracemetal, and these warranties survive completion of the transaction, that:

• you are the lawful and absolute owner of the Gold, with full right to pledge, release and sell it, and the Gold is free from any charge, lien, claim or encumbrance other than the pledge disclosed to us;
• the Gold is not stolen, smuggled, counterfeit, spurious or plated, and is not the proceeds of any crime or of any activity prohibited under the Prevention of Money-Laundering Act, 2002 or any other law;
• no person, including any family member, co-owner, heir or creditor, has any right or claim over the Gold that could affect our title;
• all information and documents you provide, including KYC documents, pledge receipts, loan statements and bank details, are true, complete, current and not misleading; and
• you have not concealed any fact that would reasonably affect our decision to release or purchase the Gold.

07KYC, anti-money laundering and payments

We comply with the Prevention of Money-Laundering Act, 2002 and the rules made under it, the Income-tax Act, 1961, the Goods and Services Tax laws and other applicable laws. Accordingly:

• You must provide your PAN, an officially valid document, a photograph and bank account details, and permit us to verify them through authorised sources. We may seek additional information on the source of the Gold or funds.
• All payments, including payment to your Lender and payment of any balance to you, are made only through banking channels to accounts verified in your name or the Lender's name. We do not make or accept cash payments beyond limits permitted by law, including section 269ST of the Income-tax Act, 1961, and we do not make payments to third parties.
• We may refuse, suspend or cancel any transaction, and retain records and report transactions to the Financial Intelligence Unit – India, tax authorities or law enforcement agencies, where we are required or reasonably believe it necessary under law. We are not liable to you for any such action taken in good faith.

08Release, testing and Purchase Price

Offer. Based on the pledge details you share, we may give you an indicative written offer. The offer is subject to verification, testing and these Terms, and remains valid only for the period stated on it.

Loan closure. On signing the Transaction Documents, you irrevocably authorise Tracemetal to pay the outstanding dues directly to your Lender and to receive the released Gold. You will co-operate with the Lender and Tracemetal to complete the release. We are not responsible for delays, charges or errors by the Lender.

Testing. The Gold is weighed and tested in your presence using calibrated equipment, which may include a precision scale, X-ray fluorescence (XRF) analyser, touchstone and acid tests. The testing may be recorded on camera. Where results are doubtful or the lot is large, you agree that we may carry out further tests, including core testing or fire assay at an accredited laboratory, and, with your written consent, cutting or melting a sample. Stones, wax, lac, solder, hooks and other non-gold material are deducted from the weight.

Purchase Price. The Purchase Price is calculated as the net weight of the Gold, multiplied by its tested purity, multiplied by the applicable gold rate, multiplied by the purchase percentage in our rate card on the date of the transaction. The Purchase Price, the amount paid to the Lender, our service fee and the balance payable to you are recorded in the valuation report signed by you.

Title and risk. Title to and risk in the Gold pass to Tracemetal when you sign the valuation report and the Purchase Price is applied towards payment to your Lender and to you. Until then, the Gold remains at your risk except while it is in our physical custody.

09Spurious, impure or misrepresented gold

If, at any time before or after completion, the Gold is found to be spurious, plated, hollow, filled, of lower purity than represented, stolen, encumbered or otherwise in breach of section 6, then, without prejudice to our other rights:

• we may withhold any balance payable to you, re-price the Gold based on its actual value, or cancel the purchase;
• you must, within 7 days of our written demand, repay all amounts paid by us to your Lender and to you, together with testing, handling and legal costs and interest at 18% per annum from the date of payment until repayment, less the actual value (if any) of the Gold retained by us;
• we may present any security cheque or enforce any guarantee furnished by you; and
• we may report the matter to the police and other authorities and initiate civil and criminal proceedings, including under the Bharatiya Nyaya Sanhita, 2023 and the Negotiable Instruments Act, 1881.

10Cancellation

You may cancel a request at no cost at any time before Tracemetal pays your Lender. Once Tracemetal has paid your Lender, the transaction cannot be cancelled unilaterally by you.

If, after we have paid your Lender, you fail or refuse to hand over the released Gold or to complete the sale, you must immediately repay the full amount paid by us, together with our costs and interest at 18% per annum from the date of payment until repayment. We may take all lawful steps to recover this amount.

11Fees and taxes

Our service fee is stated in the offer and the valuation report. Goods and Services Tax, tax deducted or collected at source, stamp duty and other levies apply as required by law. We issue documentation for every transaction as required under applicable tax laws. You are responsible for any tax payable by you on the sale of your Gold, including capital gains tax.

12Acceptable use of the website

You agree not to:

• provide false information, impersonate any person, or submit a request on behalf of another person without authority;
• use the website for any unlawful, fraudulent or misleading purpose;
• attempt to gain unauthorised access to, interfere with, or disrupt the website, its servers or networks, or introduce malware;
• scrape, copy, frame or reproduce any part of the website by automated or other means without our written permission; or
• use the website in breach of the Information Technology Act, 2000 or any other applicable law.

13Intellectual property

The Tracemetal name, logo, asterisk mark, website design, text, graphics and software are owned by or licensed to Tracemetal and are protected under the Trade Marks Act, 1999, the Copyright Act, 1957 and other laws. You may view the website for personal, non-commercial use only. No other right or licence is granted.

14Communications and electronic records

By submitting your contact details, you consent to Tracemetal contacting you by phone call, SMS, WhatsApp or email about your request and transaction, even if your number is registered on the National Customer Preference Register. You may opt out of promotional messages at any time. Service and transactional messages will continue while a request or transaction is active.

You agree that Transaction Documents, notices and records may be executed, delivered and maintained in electronic form, and that such electronic records and signatures are valid and admissible under the Information Technology Act, 2000 and the Bharatiya Sakshya Adhiniyam, 2023.

15Third parties

Lenders, refiners, laboratories, payment providers and websites linked from our website are independent third parties. Tracemetal does not control and is not responsible for their services, content, charges or privacy practices.

16Disclaimer

To the maximum extent permitted by law, the website and its content are provided on an “as is” and “as available” basis, without warranties of any kind, express or implied, including warranties of accuracy, availability, merchantability or fitness for a particular purpose. We do not warrant that the website will be uninterrupted, secure or free of errors or harmful components.

17Limitation of liability

To the maximum extent permitted by law, Tracemetal, its directors, employees and agents shall not be liable for any indirect, incidental, special, consequential or punitive loss, or for any loss of profit, opportunity, goodwill or data, arising from or in connection with the website or the Services.

Tracemetal's total aggregate liability arising from or in connection with any transaction shall not exceed the service fee received by Tracemetal for that transaction, and for use of the website without a transaction, shall not exceed ₹10,000.

Nothing in these Terms excludes or limits liability that cannot be excluded or limited under applicable law, including liability for fraud, or your rights as a consumer under the Consumer Protection Act, 2019.

18Indemnity

You shall indemnify and hold harmless Tracemetal, its directors, employees and agents from and against all losses, damages, claims, penalties, costs and expenses, including reasonable legal fees, arising from (a) any breach of these Terms or the Transaction Documents, (b) any inaccuracy in your representations or warranties, (c) any claim by a third party to the Gold, or (d) your violation of any law or the rights of any person.

19Force majeure

Tracemetal is not liable for any delay or failure to perform caused by events beyond its reasonable control, including acts of God, floods, fire, epidemics, strikes, riots, war, acts of government or regulators, bank or Lender system failures, failure of the internet or payment systems, or sharp disruptions in bullion markets.

20Suspension and termination

We may suspend or terminate your access to the website or Services, or decline any request, at our discretion, including where we suspect fraud, a breach of these Terms or a violation of law. Sections 6, 9, 10, 11, 17, 18, 22 and 23 survive termination and completion of any transaction.

21Grievance redressal

In accordance with the Consumer Protection Act, 2019, the Consumer Protection (E-Commerce) Rules, 2020, the Information Technology Act, 2000 and the Digital Personal Data Protection Act, 2023, we have appointed a Grievance Officer. Please contact:

We will acknowledge your complaint within 48 hours and resolve it within 30 days of receipt. Please include your name, mobile number, transaction or request details and a description of the issue. If you are not satisfied with our resolution, you may approach the National Consumer Helpline (1915 or consumerhelpline.gov.in) or the appropriate Consumer Disputes Redressal Commission.

22Governing law and dispute resolution

These Terms and all transactions are governed by the laws of India.

Any dispute arising out of or in connection with these Terms or the Services shall first be referred to our Grievance Officer. If it is not resolved within 30 days, it shall be finally resolved by arbitration by a sole arbitrator appointed by Tracemetal, under the Arbitration and Conciliation Act, 1996. The seat and venue of arbitration shall be the city in which Tracemetal's registered office is situated, and the proceedings shall be in English. Subject to the above, the courts at that city shall have exclusive jurisdiction.

Nothing in this section prevents you from approaching a Consumer Disputes Redressal Commission under the Consumer Protection Act, 2019, where you are a consumer, or prevents Tracemetal from seeking urgent interim relief or initiating criminal proceedings before a competent court or authority.

23General

• Entire agreement. These Terms, the Privacy Policy and the Transaction Documents form the entire agreement between you and Tracemetal. If there is a conflict, the signed Transaction Documents prevail for that transaction.
• Changes. We may amend these Terms by posting the updated version on this page with a new “last updated” date. Changes apply from that date and do not affect transactions already completed.
• Severability. If any provision is held invalid or unenforceable, the remaining provisions continue in full force.
• No waiver. Failure or delay in exercising any right is not a waiver of that right.
• Assignment. You may not assign your rights or obligations without our written consent. We may assign ours to an affiliate or successor.
• Language. These Terms are written in English. Any translation is for convenience, and the English version prevails.
• Notices. We may give notices to the mobile number, email or address you provided. You may give notices to the Grievance Officer at the details in section 21.