Terms of Service

East African Gold Exchange ("the Platform", "we", "us", or "our") is a digital marketplace that connects gold suppliers, primarily from the Democratic Republic of Congo and East Africa, with international buyers. Our platform facilitates secure, transparent, and compliant gold trading transactions.

The Platform provides tools for listing gold products, submitting purchase requests, conducting verified transactions, and accessing market intelligence. All users must comply with applicable laws and regulations in their respective jurisdictions.

Eligibility Criteria:

• Must be at least 18 years old or the legal age of majority in your jurisdiction
• Must have legal capacity to enter into binding agreements
• Must not be prohibited from using the platform under applicable laws
• Business entities must be legally registered and in good standing

Account Responsibilities:

• Provide accurate, current, and complete information during registration
• Maintain the security of your account credentials
• Notify us immediately of any unauthorized use of your account
• Accept responsibility for all activities under your account

Supplier Obligations:

• Provide accurate descriptions of gold products including purity, weight, and origin
• Maintain valid licenses and certifications for gold trading
• Comply with all applicable mining and export regulations
• Submit to verification processes as required by the platform

Buyer Obligations:

• Provide proof of funds and legal capacity to purchase gold
• Comply with import regulations in their jurisdiction
• Complete due diligence on suppliers and products
• Honor committed purchase agreements

Prohibited Activities:

• Trading in conflict minerals or illegally sourced gold
• Fraudulent misrepresentation of products or credentials
• Manipulation of market prices or trading volumes
• Circumventing platform fees or security measures

Transaction Fees:

• Suppliers: 2.5% commission on successful transactions
• Buyers: 1.5% transaction fee on purchases
• Premium memberships available with reduced fees

Payment Processing:

• All payments processed through secure, verified channels
• Escrow services available for large transactions
• Payment terms subject to verification and compliance checks
• Refunds processed according to our refund policy

All users must undergo identity verification and comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. We reserve the right to request additional documentation and suspend accounts pending verification.

Required Documentation:

• Government-issued identification
• Business registration documents (for entities)
• Mining licenses and permits (for suppliers)
• Import/export licenses (as applicable)
• Financial statements and bank references

Our Rights:

• Modify or discontinue services with reasonable notice
• Suspend or terminate accounts for violations of these terms
• Monitor transactions for compliance and security
• Update fees and terms with advance notice

Liability Limitations:

• Platform acts as intermediary; not party to transactions
• Users responsible for due diligence on counterparties
• Platform not liable for acts or omissions of users
• Maximum liability limited to fees paid to the platform

Your privacy is important to us. Our collection, use, and protection of your personal data is governed by our Privacy Policy, which forms part of these terms. By using the platform, you consent to the processing of your data as described in our Privacy Policy.

We implement industry-standard security measures to protect your data and transactions. However, no system is completely secure, and you acknowledge the inherent risks of internet-based services.

Internal Resolution:

• Platform provides mediation services for transaction disputes
• Users must first attempt resolution through platform tools
• Escalation to external arbitration available for unresolved disputes

Governing Law:

These terms are governed by the laws of Kenya. Any disputes not resolved through arbitration shall be subject to the exclusive jurisdiction of Kenyan courts.

Either party may terminate the user agreement at any time. Upon termination:

• Access to the platform will be suspended
• Pending transactions will be completed according to their terms
• Data retention will follow our Privacy Policy
• Outstanding fees remain payable