Bullion Purchase Terms & Conditions

1. ORDERING

Opening an account is free and easy, and you, the person opening the account (“you” or “the Customer”) can place your first order immediately. Orders can be placed online with Canadian PMX 24 hours a day, 7 days a week.

When you place an order with Canadian PMX, you have entered into a binding agreement to purchase goods that cannot be altered or revoked by you. Customer orders are normally accepted, but are subject to acceptance or rejection by Canadian PMX in its discretion as stated in Article 2. Canadian PMX will usually notify you of its acceptance of your order within 1 hour after it has been placed. For orders placed outside of retail store hours or on weekends, you will receive acceptance of your order with 24-48 hours.

Regardless of changes to the precious metals market, the prices set out in your Order Confirmation are locked. Your purchase is now your investment, the fluctuating value of which is entirely your responsibility. All payments to Canadian PMX are subject to time-sensitive conditions, as detailed below.

2. RIGHT OF REFUSAL

Notwithstanding anything else in these terms and conditions, and in particular in paragraph 1, Canadian PMX reserves the right to refuse or cancel any order, whether accepted or not, in which there is a price error due to computer-related errors, if there is unusual volatility in the precious metals market prior to order confirmation, if you do not comply with the payment provisions set out in these Terms and Conditions, or that is deemed by Canadian PMX to be suspicious, of substantial risk to Canadian PMX regardless of price or payment method, or which may contravene any Canadian legislation or regulation or policy.

3. DEPOSITS

Orders placed on CanadianPMX.com do not require a deposit, however, your credit card information is required and held in a tokenized state by our 3rd party Payment Card Industry compliant payment provider when selecting the following payment types; Personal/Business Cheque, Electronic Bill Payment, Bank Wire, In-Store Payment and Bank Draft to ’lock in’ your order. Payment funds for orders not paid by Interac Online, PayPal or Credit Card must be initiated within 24 hours of receiving your Order Confirmation. If payment has not been initiated within 24 hours of receiving your Order Confirmation, your credit card will be charged a $100 cancellation fee plus any market loss, according to our Market Loss Policy (see Article 16).

4. PAYMENT OPTIONS FOR ONLINE ORDERS

Canadian PMX does not accept direct bank deposits as a method of payment. Banks often recommend direct deposits instead of wire transfers as a faster and cheaper payment option. However, this method does not include details of the depositor or the type of funds deposited. Please advise your bank of our policy in order to avoid delays.

Canadian PMX accepts payments by cash, Interac Online, credit card, personal or business cheque, bank draft, electronic bill payment or bank wire transfer. Each form of payment is subject to the following terms and limitations for each payment type.

  • In Store Payments (Cash or Debit) – We accept cash or debit as payment for orders of any size. Orders that have been booked online that will be paid in store must be completed within two business days of your Order Confirmation. Payment must be made in person at our Richmond Hill store during our posted retail store operating hours (Monday through Saturday). Single cash transactions of $10,000 or greater, or multiple smaller transactions in cash within a 24 hour period that total $10,000 or more, will require you to provide one piece of valid government issued photo identification. You will also be required to complete our ‘Large Cash Transaction Report’ in compliance with all federal FINTRAC guidelines. FINTRAC guidelines do not apply to amounts spent using debit cards. Please note; orders paid for in person by cash are not guaranteed to be available next day unless we have sent you a specific Pick-Up Confirmation. https://canadianpmx.com/payment-methods/#inStorePayment
  • Interac Online – We accept online debit payments for orders up to $50,000. Prior to attempting a payment by debit card, please contact your banking institution to confirm your transaction limit to avoid delays. Many debit card accounts will decline transactions over $500 unless specific arrangements have been made through your bank. Most financial institutions will be able to accommodate large debit transactions if arranged in advance. Please note that you will be redirected to the Interac Online payment portal to complete your transaction. Once completed, you will be redirected back to CanadianPMX.com to complete your order. https://canadianpmx.com/payment-methods/#interac
  • PayPal – We accept PayPal as payment for orders of any size. Please note that Canadian PMX can only accept orders that are shipping to PayPal Verified shipping addresses. In order to purchase items through Canadian PMX using PayPal, you are required to create a PayPal account. When selecting PayPal as your method of payment, you will be redirected to the PayPal website where you will be prompted to log in to your PayPal account and process the payment. After your payment has been processed, you will be redirected back to Canadian PMX to finalize your order. If you do not currently have a PayPal account, you will be required to create one at the checkout process. https://canadianpmx.com/payment-methods/#paypal
  • Credit Card – We accept VISA, MasterCard and American Express credit card payments for orders up to $5,000. Canadian PMX currently does not accept Pre-Paid Credit Cards or Credit Card Cheques as a method of payment. Items purchased by credit card do not receive the 4% discount (or Cash Price). Orders paid by this method will only be shipped to the verified billing address matching the credit card information.Verified by VISA, MasterCard SecureCode and American Express SafeKey – these programs are in place to help make shopping online more secure. For more information, please contact your credit card provider. Please note that Canadian PMX is not involved in the authentication / verification process and is at the sole discretion of your credit card provider. Please be advised that Canadian PMX reserves the right to request additional Government Issued Photo Identification when a potential fraudulent transaction is under investigation. https://canadianpmx.com/payment-methods/#creditCard
  • Electronic Bill Payment – We accept Electronic Bill Payment through Canadian financial institutions for payments up to $10,000. Orders paid by this method will be held for up to 10 business days prior to processing to allow for full clearance of the payment through the banking system. To complete a payment via your financial institution’s Electronic Bill Payment system, please set up Canadian PMX Corp. as your bill payee. Click here to view participating banks and full payment instructions. https://canadianpmx.com/payment-methods/#billPayment
  • Personal and Business Cheques – Will be accepted for purchases up to $5,000. Your cheque must be postmarked within one business day of the time of your Order Confirmation and must be received by Canadian PMX within five business days of receipt of your Order Confirmation. Orders paid by this method may be held for up to 30 calendar days prior to processing to allow for full clearance of the cheque through the banking system. Canadian PMX will only accept cheques from Canadian financial institutions which have pre-printed account information. Please ensure all cheques are made out to the following: “Canadian PMX Corp.” https://canadianpmx.com/payment-methods/#cheque
  • Bank Drafts – Issued by Canadian and United States financial institutions are accepted for payments up to $100,000. Your draft must be postmarked within two business days of the time of your Order Confirmation and must be received by Canadian PMX within five business days of receipt of your Order Confirmation. Orders paid by bank draft issued by a Canadian financial institution are subject to a five business day holding period prior to processing to allow for full clearance of the draft through the banking system. Orders paid by bank draft issued by a United States financial institution or a Credit Union are subject to a 10 day holding period prior to processing to allow for full clearance of the draft through the banking system. Please ensure all bank drafts are made out to the following: “Canadian PMX Corp.” https://canadianpmx.com/payment-methods/#bankDraft
  • Bank Wire Transfers – Is our preferred form of payment and provide for the fastest processing and delivery of your order. There is no maximum value for wire transfer payments. Wire transfers issued by a Canadian financial institution must be completed within one business day of receipt of your Order Confirmation. Wire transfers issued by a United States financial institution must be completed within two business days of receipt of your Order Confirmation. Once your payment by wire transfer has been confirmed there is no holding period and your order will be processed immediately. Click here for bank wire transfer information. https://canadianpmx.com/payment-methods/#bankWire

Summary of Payment Options

Purchase level Payment Options
$1 – $5,000 In Store Payment (Cash or Interac), Interac Online, PayPal, Credit Card, Electronic Bill Payment, Personal or Business Cheque, Bank Draft, Wire Transfer.
$1 – $9,999.99 In Store Payment (Cash or Interac), Interac Online, PayPal, Electronic Bill Payment, Bank Draft, Wire Transfer.
$10,000 – $50,000 In Store Payment (Cash – id required or Interac), Interac Online, PayPal, Bank Draft, Wire Transfer.
$50,000.01 – $100,000 In Store Payment (Cash – id required or Interac), PayPal, Bank Draft, Wire Transfer.
$100,000.01+ Please call for assistance.

5. IN STORE PURCHASE OR PICK-UP

You are welcome to visit our Richmond Hill store during our posted business hours to purchase any in-stock merchandise or to place an order for pick-up or delivery. Please note that our standard holding periods for personal cheques, business cheques and bank drafts still apply for purchases of in-stock merchandise, as detailed above. Canadian PMX will only release bullion upon receipt of full, cleared payment.

When picking up orders in-store, you will need to bring your Pick-Up Confirmation and provide one piece of government issued photo identification before Canadian PMX can release your merchandise. There are no additional fees for in-store pickups.

6. HOLDING PERIOD

Payment Type Hold Period
In Store Payment, Interac Online, Credit Card No Hold Required
PayPal 24-48 Hours
Bank Wire Transfer Canadian Financial Institution – 1 Business Day
United States Financial Institution – 2 Business Days
Bank Draft Canadian Financial Institution – 5 Business Days
United States Financial Institution – 10 Business Days
Electronic Bill Payment 10 Business Days
Personal or Business Cheque $1 – $100 – 7 Calendar Days
$101 – $1,000 – 14 Calendar Days
$1,001 – $2,500 – 21 Calendar Days
$2,501 – $5,000 – 28 Calendar Days

7. NON-PAYMENTS AND CANCELLATIONS

If we do not receive your payment within the period of time stated above, or if your mailed payment is postmarked more than one business day from the time of your order, Canadian PMX has the right to cancel your order. At this stage your credit card will be charged a cancellation fee in a minimum, non-negotiable amount of $100 plus any applicable market loss according to our Market Loss Policy (see Article 8 below).

Should we be unable to collect your full cancellation fee, your account with Canadian PMX will be suspended until the full fee is collected. Should we be unable to collect the cancellation fee we reserve the right to take additional measures to collect the cancellation fee, including sending your account to a collections agency or the right to offset if applicable (see below).

Any payments that we have received for cancelled orders will be refunded by cheque and sent by regular mail at our cost.

8. MARKET LOSS POLICY

If your purchase is cancelled and the value of your purchase is lower at the time of cancellation, the full difference between Canadian PMX’s current selling price and the original price of your order will be added to the $100 minimum Cancellation Fee. Should the value of the items you have ordered be greater, any increase in value will not be credited to your account and will remain the property of Canadian PMX. Canadian PMX reserves the right, at our sole discretion, to honour orders for which we have received a late payment, if doing so is more advantageous to Canadian PMX.

Examples

Original Order Value At Cancellation Difference Minimum Fee Total Cancellation Fee
$1000 $1000 $0 $100 $100
$10000 $9000 -$1000 $100 $1100
$2500 $2700 $200 $100 $100

9. RIGHT TO WITHHOLD SHIPMENT FOR UNPAID MULTIPLE ORDERS (RIGHT TO OFFSET)

If you have placed multiple orders with us and properly paid for one or more orders, but fail to properly pay for any others without contacting Canadian PMX, we have the right to withhold shipment on any paid orders, until the unpaid orders have been resolved to our satisfaction, including the right to offset.

The right to offset means our right to apply the value of any customer’s paid merchandise against any of that customer’s other unpaid merchandise. If the customer then has a net balance owing to us, we shall cancel the balance of the items in the order and apply our standard cancellation fee of $100, plus any market loss on the balance of the unpaid merchandise.

10. SHIPPING POLICY

Canadian PMX offers Free Shipping on all orders over $500 within Canada (fully insured).

All orders placed with Canadian PMX are shipped fully insured by Purolator (within Canada) or FedEx/UPS (to the United States). Based on location, Canadian PMX also has the right to ship orders fully insured via Canada Post or United States Postal Service. For large orders or orders being shipped to commercial residences, customers may request shipment via Brinks at an additional cost. The shipping and insurance fees are calculated individually for each order. All shipments will require an adult signature upon delivery.

 Customers may also ship orders to courier pickup locations, where your signature will be required upon pick up. We will not accept responsibility for lost or damaged shipments if you have instructed your package to be left without a signature, or if you have made arrangements for your package to be left with a neighbor, building superintendent or other party.

*Please note; once the shipment is signed for at the customers’ listed shipping address, the package will then be considered fully delivered and is no longer the responsibility of Canadian PMX Corp.

Canadian PMX will not ship any order to a Post Office Box. Orders will only be shipped to the verified address associated with your credit card when paying by credit card. All other payment types will be shipped to the shipping address provided by the customer.

Your order will be processed and shipped typically within 1-3 business days of your payment being cleared by Canadian PMX. Within Canada you can expect delivery within 1 – 2 business days for gold, lightweight packages, and low-value silver orders. Heavy silver shipments (100 oz or more), will be delivered within 2 – 5 business days.

Canadian PMX is unable to provide tracking numbers on bullion shipments due to insurance obligations, unless the package has not been received after a period of 21 business days from the shipment date whereas then the package will be under further investigation

Please note – our shipping department does not ship orders on Fridays to avoid packages sitting in courier warehouses over weekends and/or holidays.

11. SAVE ON SHIPPING

Orders with Canadian PMX can be picked up in person, free of charge at our Richmond Hill location. Select ‘Pickup In-Store’ as your preferred delivery method when finalizing your order and we will contact you with a Pick-Up confirmation, typically within 1-3 business days of receiving your cleared payment. A copy of your Pick-Up confirmation and photo identification will be required before Canadian PMX can release your merchandise.

12. SELLING TO CANADIAN PMX

Canadian PMX is always purchasing precious metals in almost any form. Bullion can be brought in to our Richmond Hill retail store for evaluation, to sell or you may sell to us by locking in your price over the phone with our trading department.

13. IN-STORE SALE

Our purchasing staff can accommodate your sale of precious metals in any amount. Our purchase rates are based on volume and condition of the material being offered. Full payment will be offered at the time of sale by cheque, cash, or another method as detailed below at your request. Valid government issued photo identification is required in order to complete any sale to Canadian PMX within our retail store.

14. SALE BY PHONE

In order to book a price by phone you must first have an account in good standing with Canadian PMX. Furthermore, the items you wish to sell must have a minimum weight of 1 troy ounce per type of item offered for gold or platinum and 50 troy ounces for silver.

When you call our trading department you will be need to provide a valid credit card number in order to lock your price. At your request, a Purchase Confirmation detailing items, terms and shipping instructions will be sent to you. You will have a maximum of five business days to ensure that your merchandise is received by Canadian PMX.

Goods must be shipped to the following address within 1-2 business days:

Canadian PMX Corp., Department B
10355 Yonge Street
Richmond Hill, Ontario
L4C 3C1

15. PAYMENT FOR PURCHASES BY CANADIAN PMX

Once we have received your package, it will be opened under security cameras. All products will be verified through precious metals testing. Once this is completed, we will contact you to confirm payment details. Canadian PMX will pay 100% of our offered price by cheque. Cheques are delivered by regular mail at our expense. Overnight delivery of cheques, if requested, will incur a flat $25 administrative fee within Canada, $35 for the United States.

Should you wish to be paid by another method, the following terms apply.

Cash – Cash is offered as a payment option for in-store sales only. Cash payments of less than $10,000 will be paid immediately in full. Cash payments in excess of $10,000 will be incur an administrative handling fee of $10 per $1,000 above $10,000.

Bank Draft – Payments made by bank draft will incur a flat administrative fee of $45. Bank draft payments for in-store sales can be picked up in-store on the business day following the transaction, or will be sent by regular mail at our own expense.

Wire Transfer – Payments made by wire transfer will incur a flat administrative fee of $65 for transfers within Canada and the United States. International wire transfers will be subject to a variable fee to be determined at the time of payment. Wire transfer payments for in-store sales will be processed the following business day.

16. FAILURE TO COMPLETE YOUR SALE

When you offer to sell your precious metals to Canadian PMX and we accept and send you a Purchase Confirmation, you have entered into a binding agreement as set out in our Purchase Confirmation that cannot be altered by you. Regardless of changes to the precious metals market, the prices and quantities detailed in your Purchase Confirmation are locked. We have in good faith made commitments to our wholesale network on your behalf, and failure to complete your transaction leaves us having to make up the deficit of your goods. Failure to complete the sale can occur through misrepresentation of the goods being offered to Canadian PMX, or failure to send the goods within the allotted timeframe.

It is your responsibility to ensure that all items sent for sale are of the material, weight, denomination, date, finish and quality represented by you to Canadian PMX. All shipments received by Canadian PMX will be opened under recorded video surveillance and checked for authenticity, quality and accuracy. Any discrepancies between the goods detailed in your Purchase Confirmation and those received, according to the aforementioned criteria, may result in your sale being cancelled with all associated cancellation fees, as detailed below. Any goods not purchased by Canadian PMX will be returned to the owner at the owner’s expense.

Should the items that you agreed to sell not be received by Canadian PMX within five business days of your Purchase Confirmation, your sale will be cancelled. At this stage your credit card will be charged a cancellation fee in a minimum, non-negotiable amount of $100 plus any applicable market loss according to our Market Loss Policy. In this case, the loss would be to Canadian PMX in the event that the value of the merchandise detailed in your Purchase Confirmation has increased from the time of your confirmation and the time of cancellation.

17. EXCUSABLE DELAYS

Notwithstanding any other provision of these Terms and Conditions, if the supply of any deliverables or services or the performance of any other obligation by Canadian PMX is prevented, delayed, interfered with or interrupted by reason of fire, casualty, explosion, accident, strike, lockout, labour unrest, labour dispute, delay of common carrier, inability to obtain materials or services, transportation, power, fuel, labour or any other essential commodity or service, the enactment, issuance or application of any law, local by-law, regulation or executive, administrative or judicial order, any local or national emergency, acts (including delay or failure to act) of any governmental authority (de jure or de facto), inability to obtain or delay in obtaining required instructions, information, materials or services, or any other cause or causes (whether of the foregoing nature or not) beyond the reasonable control of Canadian PMX, such prevention, delay, interference or interruption shall be deemed not to be default under these Terms and Conditions, and the time or times for such performance or supply shall be extended by the period or periods same is so prevented, delayed, interfered with or interrupted. The foregoing shall apply even though any of such causes exists at the time of execution of these Terms and Conditions or occurs after performance of Canadian PMX’s obligations is delayed for other causes.

Canadian PMX is not required to change its usual business practices or methods or to assume or incur other than its usual costs or expenses in order to mitigate, avoid or eliminate any cause referred to above, or to reduce the period of any resulting delay.

18. LIMITATION OF LIABILITY

Canadian PMX shall not be liable or responsible for any use of, inability to use or failure of the services provided by Canadian PMX pursuant to these Terms and Conditions, and in particular shall not be liable for any losses or direct, indirect, consequential or incidental damages{including without limitation loss of profit or revenue}which may be realized or incurred by you, as a result of or incidental to the use of the services provided hereunder, and whether arising from breach of contract. negligence, tort or otherwise. Customer hereby indemnifies and saves harmless Canadian PMX from and against all claims, liabilities losses or costs suffered or incurred by any third parties caused by, arising out of or related to the Customer’s use of, inability to use or failure of the services contemplated by these Terms and Conditions.

19. RIGHT TO CHANGE OF TERMS

Canadian PMX reserves the right to change these Terms and Conditions at any time without notice.

20. ONTARIO, CANADA LAW

These Terms and Conditions and any transaction entered into pursuant hereto, shall be governed by and interpreted in accordance with the laws of the province of Ontario, Canada and the federal laws of Canada applicable therein.