1. Introduction and Legal Framework
Welcome to G D and 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 Organizations, 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
8.1 No Investment Advice
The Company is a retailer and wholesaler of physical precious metals. All content provided on this Platform is for informational purposes only and does not constitute financial, legal, or investment advice. By using this Platform, you acknowledge that you are making independent decisions and that the Company is not acting as a financial advisor or fiduciary.
8.2 Market Risk Disclaimer
Purchasing precious metals involves risk. The value of gold and diamonds fluctuates based on global market conditions. The Company disclaims any liability for financial losses resulting from changes in the spot price of commodities between the time of purchase and delivery, or any subsequent decrease in the value of the goods.
8.3 Technical & Pricing Disclaimer
While we strive for 100% accuracy, the Company does not warrant that the Platform will be error-free. In the event of a manifest error in pricing (e.g., a technical "glitch" displaying a price significantly below market value), the Company reserves the right to:
• Cancel the affected order;
• Refuse the transaction;
• Issue a full refund without further liability.
8.4 Limitation of Liability
To the maximum extent permitted under UAE Federal Law, the Company shall not be liable for any indirect, incidental, or consequential damages, including but not limited to loss of profits or loss of data. Our total liability for any claim arising out of a transaction shall not exceed the total amount paid by the customer for the specific product in dispute.
8.5 Non-Waiver
The failure of the Company to exercise or enforce any right or provision of these Terms & Conditions shall not constitute a waiver of such right or provision. Any waiver of a breach of these Terms must be in writing and signed by an authorized representative of the Company.
8.6 Force Majeure
The Company shall not be held liable for any delay or failure to perform its obligations (including delivery) due to circumstances beyond its reasonable control, such as acts of God, war, civil unrest, global logistics disruptions, or changes in Ministry of Economy regulations.
9 User Guarantees and Authority
To align with Federal Decree-Law No. (20) of 2018 and the 2025/2026 UAE Civil Code updates, this section ensures that the customer takes full legal responsibility for their identity and the legitimacy of their funds.
10 User Representations, Guarantees, and Authority
By creating an account and transacting on this Platform, the User represents and warrants the following:
10.1 Legal Capacity and Authority
The User guarantees that they are at least 18 years of age (as per the UAE Civil Transactions Law of 2025) and possess the full legal capacity to enter into binding contracts. If acting on behalf of a legal entity, the User warrants they have the explicit corporate authority to bind said entity to these Terms.
10.2 Authenticity of Information
The User guarantees that all personal details and identification documents provided during the KYC process (Section 2) are authentic, valid, and belong to the User. Any attempt to use "stolen identities" or expired documents will be treated as Commercial Fraud and reported to the Dubai Police and the Ministry of Economy.
10.3 Legitimacy of Funds (AML/CFT Guarantee)
In compliance with the UAE Anti-Money Laundering Framework, the User solemnly guarantees that:
• The funds used for any purchase are derived from lawful sources and are not linked to any criminal activity.
• The User is not subject to any international or local sanctions, including the UAE Local Terrorist List.
• The transaction is not being conducted for the purpose of Money Laundering or Terrorism Financing.
In accordance with applicable Anti-Money Laundering (AML) regulations, the Customer agrees that payments for any transactions exceeding USD 15,000 (or its equivalent in local currency) must be executed exclusively through official banking channels (e.g., Bank Transfer or Direct Bank Deposit). The Company is strictly prohibited from accepting cash payments exceeding this threshold.
10.4 Ultimate Beneficial Ownership (UBO)
The User guarantees they are acting on their own behalf as the Ultimate Beneficial Owner of the purchased assets. If the User is acting as an agent for a third party, they must disclose this immediately; failure to do so constitutes a material breach of these Terms.
10.5 Indemnification
The User agrees to indemnify and hold the Company harmless against any losses, fines, or legal costs incurred due to a breach of these guarantees, particularly if such breach leads to regulatory penalties imposed on the Company by the Central Bank of the UAE or the Ministry of Economy.
11 Enforcement of Terms and Obligations
11.1 Right of Audit and Verification
The Company reserves the right to verify any information provided by the User at any time. In accordance with Ministry of Economy AML/CFT regulations, we may request additional documentation or proof of the Source of Funds for high-value transactions (exceeding USD 15,000). Failure to comply with an audit request will result in an immediate freeze of the account and any pending transactions.
11.2 Reporting Obligations
The User acknowledges that the Company is legally bound to report any suspicious transactions (STRs) or activities (SARs) to the UAE Financial Intelligence Unit (goAML) without notifying the User ("Anti-Tipping Off" rule). The Company shall not be liable for any damages or losses resulting from such mandatory legal disclosures.
11.3 Remedial Actions
In the event of a breach of these Terms, the Company may, at its sole discretion:
Issue a formal warning;
• Temporarily suspend or permanently terminate the User's access;
• Reverse or cancel any transaction linked to fraudulent activity;
• Coordinate with the Dubai Corporation for Consumer Protection to initiate legal action.
12 Our Responsibilities (Company Obligations)
12.1 Product Integrity
As a licensed dealer in precious metals, our primary obligation is to ensure that all gold and diamonds products meet the exact fineness and purity standards advertised. We are responsible for the safe custody of products until the point of "Transfer of Risk" (typically upon delivery to the User or their authorized agent).
12.2 Data Security & Confidentiality
Under the UAE Personal Data Protection Law (Federal Decree-Law No. 45 of 2021), we are responsible for implementing high-level encryption and security measures to protect your sensitive KYC documents (Passports/Emirates IDs). We will not sell or share your data with third parties for marketing purposes.
12.3 Regulatory Compliance
The Company is responsible for maintaining active registration with the Ministry of Economy as a DNFBP and ensuring that all operational processes—including pricing transparency and hallmarking—adhere to UAE Federal Law.
12.4 Pricing Accuracy
While market volatility exists, the Company is responsible for providing real-time pricing updates to the best of its technical ability and ensuring that the final "Checkout Price" is honored once an order is confirmed, barring technical manifest errors.
13 Intellectual Property, Software, and Technical Requirements
13.1 Ownership of Content and Copyright
All content displayed on this Platform, including but not limited to text, graphics, logos, button icons, images, gold and diamond product photography, digital downloads, data compilations, and the "look and feel" of the website, is the exclusive property of the Company or its content suppliers. This material is protected by UAE Copyright Law and international treaty provisions. The compilation of all content on this site is the exclusive property of the Company.
13.2 Trademark Protection
The Company’s name, brand, and logos are registered trademarks. Their unauthorized use in connection with any product or service that is not the Company's, or in any manner that is likely to cause confusion among customers or disparages the Company, is strictly prohibited under Federal Decree-Law No. (36) of 2021 on Trademarks.
13.3 Software License and Restrictions
The Company grants the User a limited, non-exclusive, non-transferable, and revocable license to access and use the Platform for personal, non-commercial gold and diamond trading. You are strictly prohibited from:
Reverse Engineering: Attempting to extract the source code of the website or mobile application.
Automated Scraping: Using "bots," "spiders," or "crawlers" to monitor or copy our live market pricing data.
Interference: Introducing viruses, trojans, or logic bombs that could disrupt our goAML reporting systems or trade execution.
13.4 Required Equipment and Connectivity
To ensure the security of high-value transactions and KYC uploads, the User is responsible for:
• Hardware: Maintaining a device (computer or smartphone) capable of running modern, secure web browsers.
• Internet Access: Ensuring a stable internet connection. The Company is not liable for "price slippage" or failed orders caused by the User's slow connectivity or local network failures.
• Security Updates: Keeping your operating system and browser updated to prevent unauthorized access to your trading account.
13.5 Third-Party Links
The Platform may contain links to third-party sites (e.g., gold price charts or Ministry of Economy portals). The Company does not own or control these services and assumes no responsibility for their content, privacy policies, or software integrity.
14 Limitation of Liability and Remedies
14.1 Maximum Aggregate Liability
To the fullest extent permitted by UAE Federal Law, the total aggregate liability of the Company, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, arising out of or in connection with any transaction shall be strictly limited to the total amount paid by the User for the specific product or order that is the subject of the claim.
14.2 Exclusion of Consequential Losses
The Company shall not, under any circumstances, be liable to the User for:
• Loss of Profit: Any potential gains lost due to market price fluctuations between the time of order and delivery.
• Opportunity Costs: Losses arising from the inability to sell the metal at a specific market peak.
• Indirect Damages: Any incidental, special, or consequential damages, even if the Company was advised of the possibility of such losses.
14.3 Market "Force Majeure" and Price Errors
The User acknowledges that the Company relies on external data feeds for live spot prices. The Company shall not be held liable for:
• Feed Disruptions: Temporary loss of live pricing causing the platform to be unavailable.
• Manifest Pricing Errors: In the event of an obvious pricing error (e.g., gold listed at a silver price), the Company’s sole liability is limited to refunding the original purchase price and canceling the order.
14.4 Exclusive Remedies
If a product fails to meet the guaranteed purity or weight specified in Section 4, the User’s sole and exclusive remedy shall be, at the Company’s discretion:
• The replacement of the product with a compliant item; or
• A full refund of the purchase price upon the return of the original item in its untampered state.
14.5 Statutory Rights
Nothing in these Terms shall limit or exclude the Company’s liability for death or personal injury caused by its negligence, or for fraud or fraudulent misrepresentation, as mandated by the UAE Ministry of Economy Consumer Protection Regulations.
15 Successors and Assigns
15.1 Binding Effect
This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors, permitted assigns, heirs, executors, and legal representatives.
15.2 Assignment by the Company
The Company may, at any time and without the User's prior consent, assign, transfer, or subcontract its rights and obligations under these Terms to any third party, including in the event of a merger, acquisition, or sale of assets. In such an event, the User’s data will continue to be handled in accordance with our Privacy Policy and the UAE Data Protection Law.
15.3 Restrictions on User Assignment
The User may not assign, transfer, or sublicense any of their rights or obligations under these Terms—including the ownership of the account—to any other person or entity without the express written consent of the Company. Any unauthorized attempt to transfer an account will be deemed a breach of the KYC and AML protocols mandated by the Ministry of Economy.
15.4 Legal Heirs and Estate
In the event of the User’s death or legal incapacity, the Company shall only recognize the authority of a legal heir or executor who provides a valid Succession Certificate or Grant of Probate issued or attested by the Dubai Courts or the relevant UAE judicial authority. The Company reserves the right to freeze the account until such documentation is verified.
16 Changes and Upgrades
16.1 Right to Modify Terms
The Company reserves the right, at its sole discretion, to modify, update, or replace any part of these Terms & Conditions at any time. Such changes are typically made to reflect legislative amendments (e.g., updates to Federal Decree-Law No. (20) of 2018), changes in market conditions, or enhancements to our platform's security.
16.2 Notification of Material Changes
For significant changes that affect your legal rights or KYC obligations, we will provide notice through:
• An announcement on the Platform's homepage;
• An email sent to the address associated with your account; or
• A mandatory "Acceptance" prompt upon your next login.
Continued use of the Platform after such changes constitutes your irrevocable acceptance of the revised Terms.
16.3 Software and Platform Upgrades
The Company may periodically perform "Upgrades" to the Platform to improve security, integrate new goAML reporting features, or update live pricing engines.
• Maintenance Windows: We reserve the right to suspend access for scheduled maintenance.
• Mandatory Updates: If we release a mobile application update, you may be required to install the latest version to continue transacting, ensuring your device remains compliant with UAE Cybersecurity standards.
16.4 Retrospective Regulatory Changes
If a new law or a directive from the UAE Financial Intelligence Unit (FIU) requires an immediate change to how we handle your data or transactions, that change will apply immediately and may override existing contractual provisions herein.
17 Confidentiality
17.1 Protected Information
Both parties agree to maintain the strict confidentiality of all "Confidential Information" exchanged during the business relationship. This includes, but is not limited to, private pricing agreements, trade secrets, platform security protocols, and the User’s personal KYC documentation (Passports and Emirates IDs).
17.2 Company’s Non-Disclosure Obligation
The Company shall not disclose the User’s identity or transaction history to any third party, except:
• To employees or service providers (e.g., couriers or insurers) who require the information to complete the transaction;
• When required by the UAE Financial Intelligence Unit (FIU) or the Ministry of Economy for regulatory auditing;
• To comply with a valid court order from the Dubai Courts.
17.3 Statutory Exception (Anti-Tipping Off)
Pursuant to Article (25) of Federal Decree-Law No. (20) of 2018, the Company is legally prohibited from informing the User if their information has been shared with authorities regarding a Suspicious Transaction Report (STR). Such a disclosure by the Company would constitute a criminal offense. The User acknowledges that this statutory requirement overrides any private confidentiality agreement.
17.4 User’s Confidentiality Obligation
The User must maintain the confidentiality of their account credentials (username and password). Any transaction conducted using the User’s credentials shall be deemed to have been authorized by the User. The User shall immediately notify the Company’s Compliance Officer of any suspected unauthorized access.
17.5 Survival of Clause
The obligations of confidentiality shall survive the termination of this Agreement for a period of five (5) years, consistent with the mandatory Data Retention period for DNFBPs.
18 Miscellaneous Provisions
18.1 Entire Agreement
These Terms and Conditions, along with our Privacy Policy and Cookie Policy, constitute the entire agreement between the User and the Company regarding the use of this Platform. This agreement supersedes all prior communications, representations, or agreements, whether oral or written, concerning the subject matter herein.
18.2 Severability
If any provision of these Terms is held to be invalid, illegal, or unenforceable by the Dubai Courts, such provision shall be modified to the minimum extent necessary to make it enforceable. If modification is not possible, the provision shall be severed, and the validity and enforceability of the remaining provisions shall not be affected.
18.3 Relationship of the Parties
Nothing in these Terms shall be construed as creating a partnership, joint venture, agency, or employment relationship between the User and the Company. The User acts as an independent purchaser and is not authorized to bind the Company to any external obligations.
18.4 Language and Interpretation
In accordance with UAE legal standards, while these Terms may be provided in multiple languages for convenience, the Arabic version shall prevail in the event of any discrepancy or conflict in interpretation during proceedings before the Ministry of Economy or the UAE Judiciary.
18.5 No Third-Party Rights
These Terms are for the sole benefit of the User and the Company. No third party shall have any right to enforce any of the provisions herein under the UAE Civil Transactions Law.
18.6 Headings
The section headings used in these Terms are for convenience only and shall not have any legal or contractual effect on the interpretation of the clauses.
19. Applicable Law and Jurisdiction
19.1 Applicable Law
These Terms and Conditions, and any non-contractual obligations arising out of or in connection with them, shall be governed by and construed in accordance with the Federal Laws of the United Arab Emirates (including the Civil Transactions Law effective 2026) and the local laws of the Emirate of Dubai.
19.2 Jurisdiction
The parties irrevocably agree that the Courts of Dubai (Onshore) shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these Terms.
19.3 Mandatory Amicable Settlement
In accordance with Dubai Law No. (9) of 2025, the parties agree that before initiating litigation, any dispute must first be referred to the Centre for Amicable Settlement of Disputes (CASD) in Dubai. If no settlement is reached within the statutory period, the dispute may then be referred to the competent Dubai Court.
19.4 Language of Proceedings
The official language of the Dubai Courts is Arabic. Any documents submitted in English must be translated into Arabic by a translator licensed by the UAE Ministry of Justice.
1. Introduction and Legal Framework
G D and M is a trademark under the umbrella of Gemeva (the "Company") is a licensed entity incorporated under the laws of the Kingdom of Bahrain. The Company is a regulated Designated Non-Financial Business and Profession (DNFBP) subject to the oversight of the Ministry of Industry and Commerce (MOIC) and the Financial Intelligence Directorate (FID).
2. Eligibility and Legal Capacity
In accordance with the Bahraini Civil Code, users must be at least 21 Gregorian years of age to enter into binding contracts. By using this Platform, you warrant that you are of full legal age and possess the legal capacity to conduct financial transactions.
3. Licensing and Official Hallmarking Compliance
The Company warrants that all gold and diamond products offered for sale are certified and hallmarked in full compliance with the Decree-Law No. (19) of 2013 regarding the Control of Precious Metals. All items bear the Official Hallmark of the Kingdom of Bahrain issued by the Jewelry Testing and Hallmarking Directorate.
4. Mandatory Account Registration (KYC & AML)
In compliance with Decree-Law No. (4) of 2001 (Anti-Money Laundering Law), account registration is mandatory. Customers shall not be permitted to conduct any sales or transactions without an active verified account.
4.1 Mandatory Account Creation
In compliance with Decree-Law No. (4) of 2001 (Anti-Money Laundering Law), account registration is mandatory. Customers shall not be permitted to conduct any sales or transactions without an active verified account.
4.2 Required Registration Data
To comply with DNFBP regulations in the Kingdom of Bahrain, the account creation process must mandatorily include the collection of the following:
1. Full Legal Name (as per the identity document).
2. Date of Birth and Nationality
3. Current Occupation or nature of business.
4. Identification Type: We strictly accept only a valid Bahraini CPR (National ID) for residents or a valid Passport for non-residents.
5. Identification Document Expiry Date.
6. Verification and Reporting: The Company reserves the right to verify the authenticity of the uploaded documents.
5. Mandatory Account Registration (KYC & AML)
Per Decree-Law No. (4) of 2001 (Anti-Money Laundering Law), account registration is mandatory. Users must provide a valid Bahraini CPR (National ID) or a Passport with a valid residency visa (for expatriates). Guest checkouts are strictly prohibited.
6. Mandatory Banking Channels (USD 15,000 Threshold)
In accordance with Central Bank of Bahrain (CBB) and MOIC directives, payments for any transactions exceeding USD 15,000 (or its equivalent in BHD) must be executed exclusively through official banking channels (Bank Transfer or Direct Deposit). The Company is strictly prohibited from accepting cash for values exceeding this threshold.
7. Value Added Tax (VAT) Treatment
In accordance with the Decree-Law No. (48) of 2018 regarding VAT:
• Investment Gold: Pure gold/silver of 99% purity or higher is subject to 0% VAT (Zero-Rated).
• Jewelry: Standard VAT of 10% applies to non-investment items as per the National Bureau for Revenue (NBR) standards for 2026.
8. Real-Time Pricing and Market Volatility
Prices are linked to international spot markets and fluctuate in real-time. gold and diamond is exempt from the standard return rights under the Consumer Protection Law because its value is dependent on financial market fluctuations beyond the Company’s control.
9. Returns, Refunds, and Order Cancellations
9.1 Returns and Exchanges Policy
Due to the nature of our products (precious metals and gemstones) and their direct link
to global market price fluctuations, GD&M operates under a strict No Return, No Exchange policy:
• Final Sale: Once a transaction is completed and the item has been dispatched or taken from the premises, it is considered a final sale. Items cannot be returned for a refund or exchanged for other pieces if the item is free from manufacturing defects.
• Exceptions for Manufacturing Defects: In accordance with Bahrain Law No. 35 of 2012 (Consumer Protection Law), returns or exchanges will only be entertained if a technical manufacturing defect is identified or if the item does not match the legal fineness (karat) or specifications stated on the invoice.
• Conditions for Defective Claims:
o Claims must be made within 15 days of the purchase date.
o The item must undergo a technical inspection by our workshop to ensure it has not been subjected to misuse, accidental damage, or third-party alterations.
o The original invoice and authenticity certificates must be presented.
• Deductions: In any exceptional case where a refund is authorized by management, please note that making charges (labor fees), shipping costs, and government taxes/VAT are strictly non-refundable. Only the net value of the gold/precious stones will be considered.
9.2 Buy-Back & Gold Investment
In accordance with Bahraini trade standards for precious metals:
• Gold Jewellery Buy-Back: We offer cash buy-back at the prevailing market rate. Standard deductions include 100% of making charges and a 4% processing fee from the benchmark gold rate.
• Diamond & Gemstone Buy-Back: Buy-back is typically valued at 80-85% of the prevailing diamond market price and 100% of the gold value at the time of transaction.
• Identity Verification: Per Bahrain Financial Intelligence Unit (FIU) regulations, customers must provide a valid CPR (Smart Card) or Passport for all buy-back transactions.
9.3 Refunds & Cancellations
• No Cancellation Policy: Once an order is confirmed by the customer (either through payment, deposit, or final confirmation), it cannot be canceled, amended, or revoked under any circumstances.
• Immediate Commitment: Confirmation of the order constitutes a binding legal agreement to purchase. Since gold prices are fixed at the moment of order confirmation based on the prevailing global market rates, the customer is fully liable for the total order value.
• Custom and Standard Items: This policy applies equally to all items, including standard stock, customized pieces, and investment gold.
10. User Guarantees and Ultimate Beneficial Ownership (UBO)
The User guarantees that they are the Ultimate Beneficial Owner of the purchased goods and that funds are derived from lawful sources.
11. Anti-Commercial Fraud and Quality Assurance
In accordance with Bahraini Law, the Company prohibits the sale of counterfeit or adulterated metals. Any attempt to return fraudulent gold or diamond will be referred to the Public Prosecution.
12. Enforcement of Terms and AML Audits
The Company reserves the right to verify documentation and conduct Enhanced Due Diligence (EDD) to satisfy the requirements of the Ministry of Industry and Commerce (MOIC) and FID audits.
13. Company Responsibilities
The Company is responsible for platform security, hallmark integrity, and ensuring data processing complies with the Personal Data Protection Law (30/2018).
14. Intellectual Property and Software
The Platform and its pricing algorithms are protected by Bahraini Intellectual Property laws. Unauthorized scraping or "bot" usage is strictly prohibited.
15. Limitation of Liability and Remedies
The Company’s liability is limited to the actual amount paid by the User. Consequential losses or losses due to gold price drops after purchase are expressly excluded.
16. Manifest Pricing Errors
In the event of a technical glitch showing a price significantly different from the 2026 market rate, the Company reserves the right to cancel the order and provide a full refund.
17. Disclaimer
17.1 Market Price Fluctuations:
Prices for gold and precious metals are based on the Global Gold Spot Price and are subject to continuous change throughout the day. GD&M is not liable for any price variations that occur between the time an item is viewed and the final order confirmation.
17.2 Investment Risk:
Information provided on this website regarding gold as an investment is for informational purposes only and does not constitute financial or professional advice. Precious metals markets are volatile; values can go down as well as up. Customers purchase gold at their own risk regarding its future market value.
17.3 Hallmark and Authenticity
All gold jewelry sold by GD&M is legally hallmarked by the Bahrain Ministry of Industry & Commerce (MOIC), ensuring its purity and authenticity. Any claims regarding purity must be supported by a certified laboratory test within the Kingdom of Bahrain.
17.4 Visual Representation
While we strive for accuracy, the actual product may vary slightly in appearance (such as color or stone brilliance) due to digital screen settings and photographic lighting. The weight of the gold mentioned is the primary basis for the transaction value.
18. Confidentiality and Data Protection
User data is protected under the Bahrain Personal Data Protection Law (PDPL). "Anti-Tipping Off" rules apply to all AML-related reporting.
19. Governing Law and Jurisdiction
These Terms are governed by the laws of the Kingdom of Bahrain. Any dispute shall be referred to the exclusive jurisdiction of the Bahraini Courts.
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