“EZgold”

shall have the meaning and description as described to it under clause 2 below;

“EZgold Accounts”

means the Digital Wallet maintained by Customers to hold physically backed Bullion, measured in troy ounces (ozt) in EZgold for the purpose of facilitating the trading and/or transfer of Bullion between End User(s);

“End User”

means the existing Customers who may inter alia trade and/or transfer Bullion between the End Users, using EZgold Services;

“Bullion”

means gold or any other precious metals which EZgold /MG Metal Limited may stipulate from time to time and in accordance with the quality, quantity and other specifications as EZgold may stipulate from time to time;

“Bullion Rates”

means the real-time “buy” and “sell” prices of Bullion (as the case may be) as published by EZgold from time to time;

“Credit Card Processing Fee”

means a fee payable by End User(s) upon the top-up of their EZgold Accounts through the use of a credit card, calculated at the rate of 3.8% of the Buy amount.;

“Customers”

means all persons registered as members of EZgold for the purposes of trading in Bullion, pursuant to these Terms and Conditions;

“Delivery Charges”

means the cost of delivering (mode of delivery to be decided at the sole discretion of MG Metals Limited) physical Bullion to destination(s) specified by End User upon Redemption the cost of which will be determined solely by MG Metal Limited from time to time;

“Digital Wallet”

means a digital system utilised by EZgold that inter alia securely stores the End User’s Bullion data and/or funds and/or information (including but not limited to information on the EZgold Account(s)); means the secure on-line market for the trading and/or transferring of Bullion, owned and operated by MG Metals Limited in Hong Kong SAR;

"Exchange”

means the secure on-line market owned and operated by MG Metals Limited in Hong Kong known as the "EZgold" for:

a.    the trading of Bullion on the Trading Platform;

b.    the purchase of Bullion from the Retail Store;

c.    and any other services offered by EZgold/MG Metals Limited  and the Service Providers

“Minimum Sell Amount”

means USD 10.00 calculated in accordance with the “sell” Bullion Rates;

“Minimum Buy Amount”

means USD 10.00 calculated in accordance with the “buy” Bullion Rates;

“Minimum Transfer Amount”

means 0.01 ozt;

“Redemption Premium”

means the application of a premium fee cost over the “buy” Bullion Rate as may be determined solely by EZgold from time to time at the date of Redemption (as defined below);

“Redemption Denomination”

means the Redemption (as defined below) of physical Bullion (through the use of EZgold) which shall only be made in the following metric denominations by deducting the ozt equivalent for gold: (i) 50g (1.608 ozt); or (ii) 1,000 g (32.1507 ozt) or (iii) 1 tael (1.215 ozt) or (iv) 5 tael (6.076 ozt) or 1g (0.0321ozt) or 3 g (0.0964ozt).

For the avoidance of doubt, each denomination will carry a different premium cost which is subject to change by the respective refineries (including but not limited to gold and/or other precious metals refineries);

“EZgold Accounts”

means the Customer’s cash account(s) maintained with EZgold;

“EZgold Website”

means the official website of EZgold at  www.EZgold.com.hk.

“Transaction Fee”

means a transaction fee payable by End User(s) from their EZgold Accounts to EZgold, calculated at the rate of 3.5% for buy and 3.5% for sell of gold (subject to a minimum fee of USD 0.15 per transaction) amount (as the case may be) as may be determined and varied by EZgold in its sole discretion from time to time on such transaction fee;

“Transfer Fee”

means a transfer fee per Transfer (as defined below) payable by the transferor End User(s) from their EZgold Accounts to EZgold, calculated at the rate of 2% (subject to a minimum fee of USD 0.15 per transaction) as may be determined, varied and/or waived by EZgold in its sole discretion from time to time multiplied by the weight of the Allocated Bullion (in grams) to be transferred multiplied by the “sell” Bullion Rate of the Allocated Bullion (as determined by EZgold at the point of Transfer) being transferred from one (1) EZgold Account to another EZgold Account

“Trading Hour”

From 08:05 a.m. till 03:00 a.m. Monday to Friday (Hong Kong Time)

“USD”

means the lawful currency of the United States of America

2.1   “Buy”

End Users shall have the option to top-up their EZgold Account(s), (subject to the Minimum Buy Amount, and imposition of Transaction Fee) using funds from their EZgold Accounts or credit cards (subject to the imposition of Credit Card Processing Fee), by which Bullion shall be allocated in accordance with inter alia clauses 3.5, and 3.6 below;

2.2.  “Sell”

End Users shall have the option to sell their Bullion to EZgold for cash (subject to the Minimum Sell Amount and imposition of Transaction Fee) to be immediately credited back into the End Users’ EZgold Accounts, in accordance with the “sell” Bullion Rates at that material time; and

2.3.  “Transfer”

End Users shall have the option to instantly transfer Bullion to other End Users (subject to the Minimum Transfer Amount and imposition of the Transfer Fee);

2.4.  “Redemption”

End Users shall have the option to redeem physical Bullion in accordance with the Redemption Denomination (Redemption Premium and Delivery Charges are chargeable).

1.     Joining Fees

There shall be no joining fees chargeable in connection with the use of EZgold.

2.     Maintenance Fees

There shall be no maintenance fees chargeable in connection with the use of EZgold.

3.     Minimum Account Balance

End User’s EZgold Account(s) will not be permitted to have a negative balance at any time. Therefore, End User will not be able to make a transaction by using End User’s EZgold Account(s) unless End User has sufficient funds in End User’s EZgold Account(s).

4.     Available Balance

End Users shall be allocated with Bullion based on the Buy amount and calculated in accordance with the “buy” Bullion Rates at that material time, the Bullion of which shall be credited into the End User’s EZgold Account (“Allocated Bullion”).

5.     Custody, Care and Control

Notwithstanding anything contained herein, EZgold shall at all times

(i)  have custody, care and control of the Allocated Bullion; and

(ii) be empowered and have the sole discretion to pledge, create a lien over and/or charge the Allocated Bullion to third parties, unless and until such Allocated Bullion have been redeemed in accordance with clause 2.4 above. EZgold acts as a facilitator to help End User transfer funds from their EZgold Account to their EZgold Account(s) in connection with the use of EZgold Services from their EZgold Account(s).

6.     Reasonable Endeavours

At the request of End User(s), EZgold will use reasonable endeavours but is not bound to, and subject to market conditions (such market conditions shall include but not be limited to market liquidity), perform and complete any such request for EZgold Services (“Service Obligations”).

7.     No Interest Payable

End User will not be paid or earn interest on the amount and/or

Allocated Bullion in End User’s EZgold Account(s). The opening of the EZgold Account(s) does not establish, and is not linked to, a deposit account.

8.     Use of EZgold Account    Funds

the EZGOLD Account(s) can be used only for the amount of money and/or amount of Allocated Bullion into the account. If End User attempts to use the EZgoldD Account(s) to Sell, or for a Transfer, Redemption, or transaction amount that is greater than the same in the EZgold Account(s), the End User’s transaction will be declined.

9      No Cash Transactions

the EZgold Account does not permit any type of cash transactions. Except oth