Terms & Conditions.

01Our Services

Subject to the eligibility and verification requirements set out in these Terms, users may access the following Services through the App:

• buying and selling gold and silver holdings backed by corresponding physical gold or silver maintained on a pooled basis at prices quoted through the App;
• holding and tracking gold and silver holdings stored through SIMODI GOLD’s custody arrangements;
• adding funds to and withdrawing available funds from their SIMODI GOLD Wallet using the payment methods made available through the App;
• transferring or gifting gold and silver holdings to other SIMODI GOLD users;
• accessing SIMODI Mart, an in-App feature through which users may purchase available physical gold and silver products; and
• where available, redeeming eligible gold and silver holdings through SIMODI Mart for physical products for delivery within the UAE;

Certain Services, products, payment methods and redemption options may be subject to eligibility requirements, verification, availability, transaction limits, fees and any additional terms disclosed through the App. Further details relating to each Service are set out in the relevant sections of these Terms.

02Eligibility and User Representations

Users must be at least 18 years old, and have the legal capacity to enter into and be bound by these Terms and satisfy the applicable account registration and verification requirements. By creating an account and using the Services, the user represents and warrants that:

• all registration information provided by the user is true, accurate, current and complete, and will be kept up to date;
• the user will maintain only one personal SIMODI GOLD account;
• the user is opening and using the account on their own behalf and will not allow another person to use the account on their behalf;
• funds used to fund any transaction are the user’s own lawful funds and are not derived from unlawful activity.

If a user provides information that is untrue, inaccurate, not current, or incomplete, SIMODI GOLD may restrict, suspend or terminate the user’s account and refuse current or future use of the Services in accordance with these Terms.

03Gold and Silver Holdings, Backing and Custody

The products available through SIMODI GOLD may include gold and silver holdings, storage, sale, purchase, tracking, redemption, gifting, promotional features, and related operational services. Unless otherwise stated in the App, one SIMODI Gold unit represents one gram of 999 purity physical gold within the relevant pooled gold holding, and one SIMODI Silver unit represents one gram of 999 purity physical silver within the relevant pooled silver holding. Customers may purchase and hold fractional quantities of such units. When a customer purchases gold or silver through the App, the quantity purchased is recorded in the customer’s account within the relevant pooled physical metal holding.

SIMODI GOLD maintains physical gold and silver reserves corresponding to customer metal holdings on a one-to-one basis. Such reserves are subject to ongoing reconciliation, audit and transaction-processing controls. The physical gold and silver corresponding to customer holdings maintained on a pooled basis are not intended to be lent, pledged, leased, borrowed against, or rehypothecated by SIMODI GOLD, except where expressly disclosed, legally permitted, and separately agreed with the user.

Customer holdings are maintained on a pooled basis. The quantity of gold or silver purchased by each customer is separately recorded in the customer’s account and represents that customer’s corresponding quantity within the relevant pooled physical metal holding. Unless expressly stated otherwise, a customer’s holding is not linked to or represented by any specific bar, coin, serial number or other individually identified piece of metal. The pooled customer holdings are backed by corresponding physical metal held through SIMODI GOLD’s appointed vault arrangement. Customers may request physical redemption of their holdings subject to applicable minimum quantities, product availability and delivery requirements.

Balances and metal quantities shown in the App are platform records of the customer’s gold or silver holdings and related account balances. They are not bank deposits, e-money, stored-value balances, securities, fund units, debt instruments, profit-sharing interests, guaranteed repayment obligations, or insured deposits unless expressly required by applicable law. SIMODI GOLD does not guarantee profit, capital protection, liquidity, redemption timelines, price stability, future performance, or continuous availability of any service.

Shariah principles. SIMODI GOLD aims to structure its gold and silver services in a manner consistent with Shariah principles relating to physical ownership and exchange of precious metals, including principles commonly associated with Bay’ al-Sarf: physical backing, clear records identifying each customer’s corresponding quantity within the relevant pooled physical metal holding, no interest, no yield, no dividend, no guaranteed return, no speculative leverage, no metal lending, and transfer of ownership of the relevant quantity within the pooled physical metal holding only after confirmed payment and transaction acceptance. Where SIMODI GOLD obtains a Shariah compliance certificate from an independent Shariah advisory or supervisory body, it will make that certificate available to users on request and, where practicable, through the App or Website. Users acknowledge that Shariah interpretations may differ between scholars, institutions, jurisdictions, and regulators.

No advice. SIMODI GOLD provides execution, storage, tracking, redemption, and operational services on a non-advisory basis and does not provide financial, investment, legal, tax, accounting, regulatory, estate-planning, or Shariah advice. Information provided through the App, Website, marketing material, pricing pages, customer support, or notifications is general information only.

04Account Registration and Verification

To use the Services, users must create an account and complete SIMODI GOLD’s registration and verification requirements. SIMODI GOLD may require information and documents including the user’s full legal name, date of birth, nationality, residential address, phone number, email address, identity documents, proof of address, selfie or biometric verification where required, bank or payment details, and, where required, source of funds and source of wealth information, and where corporate or legal-entity onboarding is made available, applicable corporate and beneficial-ownership documentation.

Users must promptly update their account information if any information provided becomes inaccurate, incomplete, outdated, or misleading.

SIMODI GOLD may request additional information or documents where reasonably required for identity verification, compliance, fraud prevention or other lawful purposes. Users may also be required to complete additional or repeated verification during their relationship with SIMODI GOLD.

If a user fails to provide requested information, or if information provided is incomplete, inaccurate or cannot be verified, SIMODI GOLD may refuse or delay account activation, restrict or suspend the account, or delay or reject a transaction or redemption request, in accordance with these Terms and applicable law.

SIMODI GOLD may also restrict or freeze funds or assets, make reports to competent authorities, or take any other action where required or permitted by applicable law.

05Compliance and Screening

SIMODI GOLD carries out customer due diligence, sanctions screening, transaction monitoring, fraud prevention and other compliance checks in accordance with applicable UAE laws and regulations.

SIMODI GOLD may screen users and, where applicable, persons or transactions connected with their account against sanctions, politically exposed person, adverse media, fraud and other relevant risk databases. Users may be required to provide additional information or documents and cooperate with compliance reviews carried out by SIMODI GOLD.

SIMODI GOLD may delay, reject, restrict, freeze or otherwise take action in relation to an account or transaction where required or permitted by applicable law, including where activity is suspected to be unlawful or cannot be satisfactorily verified. SIMODI GOLD may also make reports or disclosures to competent authorities where required or permitted by applicable law.

06Buying, Selling and Pricing

Prices, rates, charts and other market information displayed on the App or Website are indicative only. A transaction becomes binding only when SIMODI GOLD accepts it and issues a successful confirmation. Quotes may expire or change before confirmation due to market movements, liquidity, data feeds or technical or operational conditions.

SIMODI GOLD may reject or delay a purchase or sale request where reasonably necessary for legal or compliance, payment, fraud or security, market or liquidity, system or operational reasons.

A purchase is completed only when payment has been accepted and SIMODI GOLD confirms the transaction, at which point the relevant gold or silver quantity will be recorded in the user’s account as the user’s corresponding quantity within the relevant pooled physical metal holding. Pending or reversed payments do not create an entitlement to gold or silver. Displayed prices may include market price, spread, service fees, storage fees, taxes, payment fees, currency conversion, and bank charges.

Users may request to sell eligible holdings recorded in their account subject to applicable minimum or maximum quantities, market availability, account status and compliance checks. Sale proceeds will be credited to the user’s SIMODI GOLD Wallet. Users may then request withdrawal of available Wallet funds to an approved bank account held in the verified user’s name, subject to applicable compliance checks and processing requirements.

If SIMODI GOLD reasonably believes that a quote, price, fee, metal quantity, exchange rate, account balance, transaction, redemption value, or calculation contains or is based on a system error, feed error, or other obvious mistake, SIMODI GOLD may cancel, reverse, or correct the affected transaction and any resulting account balance or record, where legally permitted, acting reasonably and notifying the user. SIMODI GOLD may also restrict the account where a user knowingly exploits or attempts to exploit such an error.

07Payments, Deposits, Withdrawals and Chargebacks

SIMODI GOLD may accept payment through bank transfer, debit card, credit card, or other payment method made available through the App from time to time. Payments must come from accounts, cards, or other payment methods held in the verified user’s name unless SIMODI GOLD approves otherwise; SIMODI GOLD does not normally accept third-party payments and may reject, return, freeze, hold, investigate, or report suspicious, mismatched, or irregular payments.

Sale proceeds will be credited to the user’s SIMODI GOLD Wallet. Withdrawals of available Wallet funds will be processed to the approved bank account saved in the user’s account, subject to applicable compliance and verification requirements. Deposits, withdrawals, refunds, and sale proceeds may be delayed due to bank processing, payment-provider review, compliance checks, sanctions screening, fraud checks, or third-party provider delays outside SIMODI GOLD’s reasonable control.

If a user initiates a chargeback, card dispute, payment reversal, or similar process, SIMODI GOLD may take reasonable steps to investigate and respond to the dispute, including temporarily restricting affected transactions or withdrawals where necessary. Where a payment is reversed or an amount becomes due to SIMODI GOLD, SIMODI GOLD may recover or set off amounts owed and applicable fees, subject to applicable law.

This Section should be read together with the SIMODI GOLD Refund Policy.

08Physical Redemption and Delivery

Users may request physical redemption of gold or silver where available. Where a redemption request is accepted, the applicable quantity will be deducted from the user’s pooled gold or silver holding and applied towards the physical product selected for redemption. Physical delivery is currently available only to eligible addresses within the United Arab Emirates, with available delivery options disclosed through the App at the time of the request. Redemption may be provided in bars, coins, minted products, or other approved formats, subject to minimum and maximum quantities, product availability, vault availability, fabrication, minting, insurance, applicable tax, logistics, compliance, and security requirements.

Users are responsible for providing accurate delivery information, being available to receive the delivery, completing any required identity verification and paying applicable delivery charges, fees and taxes. If delivery fails because the user provides inaccurate information, is unavailable, fails identity checks, refuses delivery, or does not cooperate, SIMODI GOLD may cancel the delivery request, charge applicable re-delivery or storage fees, return the item to custody, or sell or re-credit the metal to the user’s account, as applicable. This Section applies together with the SIMODI GOLD Refund Policy.

09Gifts, Transfers and Promotions

SIMODI GOLD may allow users to transfer or gift eligible gold or silver holdings to another verified SIMODI GOLD user, subject to applicable limits, fees, recipient verification and compliance, fraud and security checks. Once a transfer or gift is completed, the relevant quantity will be deducted from the sender’s holding and recorded in the recipient’s account as part of the recipient’s corresponding quantity within the relevant pooled physical metal holding. SIMODI GOLD may delay or reject a transfer or gift where reasonably necessary for compliance, fraud, security or operational reasons.

SIMODI GOLD may also offer referrals, rewards, discounts, promotional credits or other promotional features from time to time. Promotional features are discretionary and may be subject to separate terms, eligibility criteria, expiry dates, minimum purchases, redemption restrictions, and fraud controls, which will be made available through the App or otherwise communicated to the user before participation in the relevant promotion.

Promotional credits, where offered, have no cash value and cannot be withdrawn unless the applicable promotional terms expressly provide otherwise. SIMODI GOLD may modify, suspend, cancel, reverse, expire, or withdraw promotions where permitted by applicable law, including where abuse, fraud, error, duplicate accounts, or misuse is suspected.

10Storage, Custody, Insurance, Audits and Proof of Reserves

SIMODI GOLD arranges secure storage of physical gold and silver corresponding to customer holdings maintained on a pooled basis through its appointed third-party vault operators or other secure custody arrangements. SIMODI GOLD may arrange or maintain insurance or other liability coverage in respect of metals held in custody, subject to policy terms, exclusions, deductibles, limits, and applicable law; such coverage may not cover all losses, events, or circumstances. Users acknowledge that custody involves vault risk, logistics risk, insurance exclusions, third-party provider risk, audit timing risk, operational risk, and force majeure risk.

SIMODI GOLD may conduct periodic internal reconciliations and independent third-party audits, confirmations, attestations, or proof-of-reserve reports of gold and silver reserves, and may publish summary audit or reserve attestation reports from time to time while protecting sensitive vault, security, customer, and operational information.

11Fees, Charges, Spreads and Taxes

SIMODI GOLD may charge buy spreads, sell spreads, storage fees, redemption fees, minting or fabrication fees, delivery fees, insurance fees, currency conversion fees, payment processing fees, bank transfer fees, failed-payment or chargeback fees, transfer fees, and other fees, each as disclosed through the App, applicable transaction quote or the SIMODI GOLD Pricing and Fees Policy. Where a fee relates to a specific transaction, the applicable fee will be disclosed before the user confirms the transaction.

Users are responsible for all applicable taxes, duties, levies, and other statutory charges arising from use of the Services; SIMODI GOLD does not provide tax advice. The current fee schedule is set out in the SIMODI GOLD Pricing and Fees Policy (see the Fee Schedule).

12Prohibited Activities and User Responsibilities

Users agree to provide accurate information, keep credentials secure, use only lawful funds, comply with applicable law, cooperate with SIMODI GOLD’s checks, and notify SIMODI GOLD immediately of unauthorised access or suspicious activity. Users must not access or use the Services through automated or non-human means, including bots, scripts or scraping tools, without SIMODI GOLD’s prior written approval. Users must not use the Services for any illegal or unauthorised purpose or in any manner that violates applicable law or regulation. Users must also not use the Services for fraud, money laundering, terrorist financing, proliferation financing, sanctions evasion, tax evasion, illegal trade, market abuse, false documentation, unauthorised access, abusive promotions, duplicate accounts, reverse engineering, or interference with platform operations.

SIMODI GOLD may rely on any instruction submitted through the user’s authenticated account, subject to any additional security, verification or compliance checks that SIMODI GOLD considers necessary. Users are responsible for account activity resulting from the use of their own credentials, devices, or negligence, except to the extent prohibited by applicable law.

13Account Suspension, Restriction, Closure, Termination and Set-off

SIMODI GOLD may suspend, freeze, restrict, block, close, or terminate an account, reject orders, refuse withdrawals, delay redemption, or withhold settlement where reasonably necessary for legal, compliance, sanctions, fraud, security, tax, payment, investigation, customer protection or operational reasons, including where the user breaches these Terms, fails to complete required KYC or ongoing due diligence, provides false or misleading information, has a failed or disputed payment, is subject to a sanctions match, or where SIMODI GOLD reasonably suspects fraud, suspicious or unlawful activity. SIMODI GOLD may take such action without prior notice where required or permitted by law or where immediate action is reasonably necessary.

Users may request closure of their account after all pending transactions, fees, claims and other outstanding obligations have been settled. SIMODI GOLD may require the user to sell, transfer or redeem any remaining eligible holdings before the account is closed. Suspension, closure or termination does not affect accrued rights or the user’s lawful ownership of eligible gold or silver holdings. Any sale, transfer, redemption or release of such holdings remains subject to applicable law, compliance requirements and settlement of outstanding obligations.

SIMODI GOLD may set off amounts owed by the user against amounts otherwise payable to the user, to the extent permitted by applicable law.

14Death, Incapacity, Legacy and Inactivity Management

SIMODI GOLD may allow users to nominate or update a beneficiary in relation to eligible gold or silver holdings, subject to feature availability, identity verification, and applicable law. A beneficiary nomination is an administrative record only and does not by itself create an automatic right to ownership, access, transfer, or release of assets contrary to applicable law, inheritance rules, or court orders.

An account may be treated as inactive after six months without a customer-initiated login or transaction and may be treated as dormant after twelve months without customer-initiated activity or successful login. SIMODI GOLD may send one or more notifications through push notification, SMS, or email before treating an account as dormant.

If SIMODI GOLD is notified of a user’s death or incapacity, it may freeze or restrict the account until it receives documents it reasonably requires, which may include a death certificate, proof of relationship, identification of the claimant, probate or succession documents, guardianship documents, powers of attorney, court orders, or letters of administration and may act on instructions from a competent court, executor, administrator, guardian or other person recognised under applicable law. SIMODI GOLD may refuse, delay, or restrict the release of assets where documentation is incomplete, disputed, unverifiable, or where there is a competing claim, sanctions concern, or other compliance issue. Any release, transfer, or restriction under this Section will be carried out in accordance with applicable UAE inheritance and succession law, and SIMODI GOLD’s internal compliance procedures. Users are responsible for keeping beneficiary and next-of-kin details up to date.

15Technology, Third-Party Providers and Intellectual Property

SIMODI GOLD does not guarantee that the App, Website, systems, or communication channels will be uninterrupted, error-free, or immune from cyberattack. The Services may be unavailable or disrupted due to maintenance, upgrades, system or technical issues, cyber incidents, third-party outages or other circumstances outside SIMODI GOLD’s reasonable control. Users must not use bots, scripts, scraping tools, or other automated methods to access the platform without prior written approval.

SIMODI GOLD may use banks, payment processors, KYC/AML vendors, sanctions-screening vendors, vault operators, insurers, logistics companies, mints, refiners, cloud providers, and other service providers. The availability and performance of certain Services may depend on such third-party providers, and SIMODI GOLD does not guarantee the uninterrupted availability or performance of third-party services.

All intellectual property rights in the SIMODI GOLD App, Website, logo, brand, trade names, trademarks, software, designs, content, databases, and platform materials belong to SIMODI GOLD or its licensors and are protected under applicable copyright, trademark, and related laws. Subject to compliance with these Terms, SIMODI GOLD grants users a limited, non-exclusive, non-transferable, revocable licence to access the Services and to download or print content for personal, non-commercial use only. Users may not copy, reproduce, distribute, modify, resell, scrape, reverse engineer, decompile, or commercially exploit SIMODI GOLD’s intellectual property, and any breach of this Section is a material breach entitling SIMODI GOLD to terminate the user’s access immediately.

16Submissions and Feedback

By sending SIMODI GOLD any comment, suggestion, idea, or other feedback about the Services (“Submissions”), the user agrees that SIMODI GOLD may use and share such Submissions for any lawful purpose without compensation or acknowledgment. The user confirms that any Submission will not be illegal, harassing, defamatory, obscene, or misleading, and that the user has the necessary rights to submit it.

17Data Protection, Communications and Electronic Acceptance

Users should read the SIMODI GOLD Privacy Policy, which explains how SIMODI GOLD collects, uses, shares, retains and otherwise processes personal data. SIMODI GOLD processes personal data in accordance with the SIMODI GOLD Privacy Policy, which is incorporated into these Terms by reference. SIMODI GOLD may communicate with users through the App, Website, email, SMS, phone, push notification, or other approved method. SIMODI GOLD may retain records of communications for customer support, security, compliance, and dispute-resolution purposes in accordance with the Privacy Policy and applicable law.

Users agree that electronic acceptance through the App or Website, including selecting an acceptance button, checking a box, entering a verification code or otherwise providing valid electronic acceptance, may be used to enter into these Terms, place orders or provide other instructions electronically. SIMODI GOLD may retain electronic records of such acceptance, orders and instructions. Where SIMODI GOLD sends marketing SMS communications, users may opt out of non-essential SMS by contacting SIMODI GOLD support; transactional and security-related messages may continue regardless of marketing preferences.

18Limitation of Liability and Indemnity

To the maximum extent permitted by law, SIMODI GOLD, its directors, officers, employees, shareholders, affiliates, agents, and service providers are not liable for loss of profit, loss of opportunity, market losses, indirect or consequential losses, or punitive damages arising from use of the Services, except losses directly and solely caused by SIMODI GOLD’s proven fraud or gross negligence. Where liability cannot be excluded, SIMODI GOLD’s total liability is limited to the lower of: (a) the value of the user’s eligible metal balance affected by the relevant event; (b) the fees paid by the user to SIMODI GOLD for the affected service in the preceding six months; or (c) the maximum amount permitted under applicable law. Nothing in these Terms excludes liability that cannot lawfully be excluded, including liability for death or personal injury caused by negligence, or for fraud.

Users agree to indemnify and hold harmless SIMODI GOLD and its directors, officers, employees, and service providers from claims, losses, and costs arising from a user’s breach of these Terms, violation of law, misuse of the platform, or provision of false information, except to the extent such claims arise from SIMODI GOLD’s own breach, fraud, or gross negligence.

19Force Majeure

SIMODI GOLD is not liable for delay or failure to perform caused by events beyond its reasonable control, including war, civil unrest, terrorism, natural disaster, pandemic, cyberattack, banking or payment-network failure, sanctions, government restriction, customs delay, logistics disruption, vault closure, or gold or silver supply disruption. During such an event, SIMODI GOLD may suspend, delay, modify, cancel, reverse, restrict, or refuse services, orders, withdrawals, redemptions, deliveries, payments, or App access as reasonably necessary, and will restore normal service when reasonably practicable after the relevant disruption has ceased or its effects have been resolved.

20Complaints Handling and Dispute Resolution

If a user has a complaint, claim, or dispute arising out of or in connection with these Terms or the Services (a “Dispute”), the user should first submit a written complaint to customersupport@simodigold.com, including the user’s name, registered contact details, account or transaction reference, a description of the issue, and any supporting documents. SIMODI GOLD will acknowledge the complaint and aim to provide a substantive response within thirty (30) calendar days of receipt. Where SIMODI GOLD cannot respond within that period due to complexity, third-party response times, or circumstances beyond its reasonable control, it will notify the user of the delay and the expected timeframe where reasonably practicable, and will continue to process the complaint as soon as reasonably possible.

If a user is not satisfied with SIMODI GOLD’s response, the user may escalate the matter to the relevant competent UAE authority, without prejudice to the user’s right to pursue court proceedings.

Court jurisdiction. Where a Dispute is not resolved internally, the competent courts of Dubai, United Arab Emirates shall have jurisdiction, and the parties irrevocably submit to that jurisdiction.

Regulatory action preserved. Nothing in this Section prevents SIMODI GOLD from complying with a regulatory directive, court order, or law enforcement request, or from freezing, restricting, or reporting accounts in accordance with applicable AML/CFT or sanctions laws.

21Governing Law

These Terms are governed by and interpreted in accordance with the applicable federal laws of the United Arab Emirates and, where applicable, the laws in force in the Emirate of Dubai. If any provision of these Terms conflicts with applicable UAE federal law, the applicable UAE law prevails to the extent of that conflict.

22General Provisions

These Terms, together with the policies and any other terms, transaction confirmations, product-specific disclosures or documents expressly incorporated by reference, constitute the entire agreement between the user and SIMODI GOLD in relation to the Services governed by these Terms. If any provision is held invalid or unenforceable, the remaining provisions remain in full force. SIMODI GOLD’s failure to enforce a right or provision is not a waiver of that right. Users may not assign or transfer their rights or obligations under these Terms without SIMODI GOLD’s prior written consent; SIMODI GOLD may assign or transfer its rights and obligations to an affiliate, successor, or purchaser where permitted by law. These Terms may be provided in English and other languages; the English version prevails in case of inconsistency, unless applicable law requires otherwise. Clauses relating to fees, data retention, confidentiality, intellectual property, liability, indemnity, set-off, dispute resolution, and governing law survive termination of these Terms.

23Contact Us

For general enquiries, customer support and complaints, users may contact SIMODI GOLD FZCO:

Compliance-related communications may be sent to compliance@simodigold.com.