Terms and Conditions 

1.     Introduction and Legal Framework
Welcome to GD&M Trading FZE (hereinafter referred to as the "Company", "we", "us", or "our"). The Company is a duly licensed entity incorporated under the laws of the United Arab Emirates, specializing in the trade of precious metals and stones.

1.1  Regulatory Status
In accordance with Federal Decree-Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations, the Company is classified as a Designated Non-Financial Business and Profession (DNFBP). As such, we operate under the enhanced regulatory supervision of the UAE Ministry of Economy and the Financial Intelligence Unit (FIU)

1.2  Acceptance of Terms
By accessing this website, creating an account, or engaging in any transaction, you (the "User" or "Customer") acknowledge that you have read, understood, and irrevocably agreed to be bound by these Terms and Conditions. These Terms govern all sales, purchases, and services provided through this Platform.

1.3  Eligibility
Our services are strictly intended for individuals and entities who meet the legal requirements for high-value commodity trading in the UAE. By using this Platform, you represent that you possess the legal authority to enter into these Terms and that you are compliant with all applicable Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols as detailed herein.

2.     Licensing and Precious Metals Trading Compliance
The Company represents and warrants that all gold and diamonds offered for sale through its website is duly certified and hallmarked in full compliance with the provisions of Federal Law No. (11) of 2015. The Company further confirms that it holds a valid commercial license issued by the Government of Dubai, Department of Economy and Tourism (DET) and is duly registered with the Ministry of Economy.

3.     Account Registration and KYC Compliance:

3.1  Mandatory Account Creation
In compliance with UAE Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) laws, account registration is mandatory. No user shall be permitted to initiate, conduct, or complete any purchase, sale, or transaction on this Platform without maintaining an active, verified account. Guest checkouts are strictly prohibited for transactions involving precious metals and stones.

3.2  Know Your Customer (KYC) Requirements
To fulfill our obligations under Cabinet Decision No. (10) of 2019, users must complete a Customer Due Diligence (CDD) process. During account creation, you must provide accurate, current, and complete information, including:
•  Full Legal Name (as appearing on your identity document);
•  Date of Birth and Nationality;
•  Current Occupation or nature of business;
•  Identification Details: You must specify the type of identification provided. We strictly accept only a valid Passport or a valid UAE/GCC National ID (Emirates ID);
•  Document Expiry Date: The provided identification must be valid at the time of the transaction.

3.3  Mandatory Document Upload
Users are required to upload a clear, high-resolution digital copy of their valid Passport or UAE/GCC Residence ID. Failure to provide legible documentation or providing expired documents will result in the immediate rejection of the account application or the suspension of transaction privileges.

3.4  Verification and Reporting
By creating an account, you acknowledge that we may verify your identity against international Sanctions Lists and file necessary reports, such as a Dealers in Precious Metals and Stones Report (DPMSR), via the UAE FIU goAML portal as required by law.

 
4       Transparency and Product Specifications

4.1  Accuracy of Information
In accordance with Federal Decree-Law No. (5) of 2023, the Company is committed to providing full transparency for all listed gold and diamond products. Each product page shall clearly display:
Physical Specifications: Exact weight, purity (karat), and fineness.
Provenance: Country of origin and the recognized Hallmarking Authority or refinery stamp.
Pricing: The total price, inclusive of all applicable fees, premiums, and taxes (including VAT where applicable), as per the Ministry of Economy Consumer Protection standards.

4.2  Real-Time Market Volatility
Users acknowledge that gold, silver, and other precious metals are commodities subject to international spot market fluctuations. Consequently:
-        Prices displayed on the Platform are linked to live market data and may update frequently.
-        The final price of a product is only locked at the moment of Order Confirmation.
-        The Company reserves the right to cancel orders in the event of manifest pricing errors caused by technical malfunctions or extreme market volatility.

5        Returns, Refunds, and Order Cancellations
5.1  Final Sale Policy (Market Volatility)
In accordance with UAE consumer law exceptions for commodities, all purchases of gold and diamonds are final and non-returnable. Because the value of these products is determined by continuous fluctuations in the international gold and silver spot markets, which the Company cannot control, the standard "cooling-off" period or right to return goods does not apply.
5.2  Product Discrepancy & Manufacturing Defects
Returns will only be considered if the delivered product significantly differs from the weight, purity, or fineness specified in the Order Confirmation, or if the product possesses a verifiable manufacturing defect.
·        Notification: Any discrepancy must be reported to our Customer Support Team within 24 hours of delivery.
·        Verification: Products must be returned in their original, untampered packaging (including assay cards/certificates).
5.3  Order Cancellations
·        By the User: Once an order is confirmed and the price is "locked," it cannot be canceled by the user due to the immediate hedging of the metal.
·        By the Company: We reserve the right to cancel any transaction if the KYC documentation provided in Section 2 is found to be fraudulent, or if a technical error results in an incorrect market price being displayed.
5.4  Buy-Back Policy
While sales are final, the Company may offer a Buy-Back option based on the prevailing market spot price at the time of the request, subject to a purity assay and applicable "spread" fees.
6       Value Added Tax (VAT) Treatment 
6.1  Investment Precious Metals (Zero-Rated)
Pursuant to Federal Decree-Law No. (8) of 2017 (as amended) and its Executive Regulations, the supply of Investment Precious Metals is subject to VAT at a 0% rate (Zero-Rated). To qualify for this rate, the product must meet the following criteria:
·        Purity: The metal (Gold, Silver, or Platinum) must be at least 99% pure.
·        Form: The product must be in a form accepted for trade on international gold markets.
·        Documentation: A valid Purity Certificate must accompany the transaction to substantiate the zero-rating. 
6.2  Non-Investment Metals and Jewelry (Standard-Rated)
Products that do not meet the 99% purity threshold, including most jewelry, decorative items, and retail gold coins below investment grade, are subject to the Standard VAT Rate of 5%. The taxable amount includes both the metal value and any associated design or "making" charges. 
6.3  2026 Compliance Updates: Reverse Charge Mechanism (RCM)
Effective January 1, 2026, for business-to-business (B2B) transactions between VAT-registered entities:
1.      Self-Invoicing: The requirement for the buyer to issue a "self-invoice" for RCM transactions has been abolished.
2.      Documentation: Both parties must instead maintain robust supporting documentation (contracts, delivery notes, and payment evidence) as required under the updated Federal Decree-Law No. (17) of 2025.
3.      Declaration: Registered business customers must provide a written declaration confirming their VAT registration status and their intent to use the goods for resale or processing. 
6.4  Tourist Tax Refunds
Eligible tourists may claim a refund of the 5% VAT paid on standard-rated purchases (jewelry) at the point of exit, provided the purchase was made through a retailer registered in the Tax Refund for Tourists Scheme and the goods are exported within 90 days. 
 
7       Anti-Commercial Fraud and Quality Assurance
7.1  Commitment to Authenticity
In accordance with Federal Law by Decree No. (42) of 2023, the Company strictly prohibits the sale, display, or promotion of any counterfeit, adulterated, or "spoilt" goods. Every gold and diamond product sold on this Platform is guaranteed to be authentic and compliant with the purity, weight, and fineness standards declared in the product description.
7.2  Prohibition of Deceptive Practices
The Company adheres to the definition of Commercial Fraud as defined by UAE law, which includes any act of deceiving the customer by:
·       Altering or changing the commodity’s nature, weight, or origin;
·       Providing false or misleading commercial data;
·       Misrepresenting the hallmarking authority or the source of the metal.
7.3  Right to Recall and Inspection
Mandatory Recall: Pursuant to Article (5) of Decree-Law No. (42) of 2023, if any product is discovered to be non-compliant or fraudulent, the Company is obligated to immediately recall the goods from the market and notify the Ministry of Economy (MoE).
Government Oversight: Users acknowledge that all products are subject to inspection by the Dubai Corporation for Consumer Protection and Fair Trade or other relevant local and federal authorities to ensure market integrity.
7.4  Penalties for Violation
The Company reminds all third-party suppliers and partners that committing or attempting to commit commercial fraud in the UAE can result in imprisonment for up to two years and/or fines ranging from AED 50,000 to AED 250,000, which may increase to AED 1,000,000 for aggravated offenses involving health and safety or fraudulent measures/weights.
 
8       Waiver and Disclaimer of Liability

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