Terms & Conditions

 

1 - Introduction

1.1 This agreement is an electronic document subject to the provisions of the Egyptian law governing electronic signatures and the establishment of the Information Technology Development Authority No. 15 of 2004.
1.2 This electronic document has the same legal validity as official and customary writings and documents under the provisions of the Egyptian Evidence Law in civil and commercial matters, as well as in all international agreements and national laws in various countries, and before both national and international arbitration bodies.
1.3 The paper copy of this official electronic document serves as proof for all parties as long as it matches the original electronic document, provided that the official electronic document and electronic signature are present on the electronic platform owned by The Investment Group Dahab Masr Company (Dahab Masr).

 

2 - Definitions

2.1 "User" refers to any individual as a natural person, institution, entity, or company as a legal person, according to foreign and local definitions of natural and legal persons, who deals as a counterparty to purchase gold and silver and/or receive gold and silver and/or resell gold and silver to the Dahab Masr platform and/or store gold and silver or to any other buyer, subject to the terms and rules outlined in this agreement.
2.2 "Gold" refers to 24-karat gold with a purity of 99.99% and 999.9 fineness, as well as 21-karat gold with a purity of 87.5% and 875 fineness, provided by the Dahab Masr platform under the registered trade name "Dahab Masr" or any other trade name contracted by the platform. This includes fractional units of less than one gram stamped by the Stamping and Weights Authority.
2.3 "Silver" refers to silver with a purity of 99.9% and 999.0 fineness, provided by the Dahab Masr platform under the registered trade name "Dahab Masr" or any other trade name contracted by the platform. This includes fractional units of less than one gram stamped by the Stamping and Weights Authority.
2.4 "Golden Account" is an account electronically created on the Dahab Masr platform by the user – as defined previously – for the purpose of conducting sale or purchase transactions, or any future operations added by the platform, such as, but not limited to, leasing, pledging, securitizing, benefiting, or investing in various forms of gold and silver transactions.
2.5 "Golden Account Data" refers to the information provided by the user, who guarantees its accuracy and accepts the legal responsibility for it regarding the determination of the user’s true digital identity, thereby activating the legal effect of the Golden Account’s creation.
2.6 "User Request" refers to a purchase request, sale request, storage request, or any other legal requests available on the platform by Dahab Masr. The user request constitutes an offer to contract with all legal actions presented, provided the request is sufficiently specific and includes the determination of the quantity of gold or silver and the price, or any other data that can specify them.
2.7 "Force Majeure" refers to any event beyond the complete or partial actual control of the Dahab Masr platform, whether related to regulatory measures issued by executive, legislative, or judicial authorities, or to illegal digital acts including:
First: Unauthorized access to the Dahab Masr platform, where an individual deliberately or accidentally enters and remains without legal justification on the platform’s website, a user’s personal account, or the platform’s information system, resulting in damage, deletion, alteration, copying, or republication of the data or information.
Second: Exceeding authorized access rights, where an individual enters the Dahab Masr platform’s website, a user’s golden account, or the platform’s information system with legitimate credentials but exceeds the scope of these rights in terms of time or level of access.
Third: Unauthorized interception of information or data transmitted via the Dahab Masr platform.
Fourth: Damaging the integrity of data, information, and information systems by deliberately and without justification destroying, disabling, altering, or canceling programs, data, or stored, processed, generated, or created information in any information system related to Dahab Masr.
Fifth: Attacking the golden accounts of users by deliberately or maliciously disabling, slowing down, or compromising the integrity of the user’s golden account.
Sixth: Attacking the design of Dahab Masr’s website by deliberately or maliciously distorting, hiding, or changing its design.
Seventh: Attacking the integrity of the Dahab Masr platform by deliberately causing it to stop working, disrupting its efficiency, jamming it, or intercepting its operations.
Eighth: Fraud and illegal activities involving bank cards and electronic payment tools used on the Dahab Masr platform, including unauthorized access to card numbers, bank service data, or other electronic payment tools for illegal purposes.
Ninth: Fabricating fake websites or golden accounts for the Dahab Masr platform or users, including creating fake email addresses, websites, or golden accounts that are falsely attributed to Dahab Masr for malicious purposes.
Tenth: Laws, regulations, and executive decisions issued by the competent authorities of the Arab Republic of Egypt, given that the service provider is subject to Egyptian law, or laws, regulations, and executive decisions applicable in the user's country.

 

3 - Dahab Masr Services

3.1 The Dahab Masr platform provides electronic buying and selling services for gold and silver locally or globally, secure storage services on behalf of users, physical delivery of gold and/or silver, and all related services. It also conducts all legal actions on behalf of users, including, but not limited to, operational leasing, pledging, securitizing, benefiting, or investing in various forms of gold and/or silver, according to the features provided by the platform for future electronic transactions.
3.2 Gold or silver is offered for sale, purchase, or other legal actions listed in the previous paragraph via the Dahab Masr platform under its registered trademark. The platform facilitates electronic payment services through various payment systems by entering into separate agreements with partners, and the Dahab Masr platform is not responsible for any errors or obstacles related to payment services, which remain the sole responsibility of the contracted payment service provider chosen by the user.
3.3 The user's acceptance of the purchase and sale agreement electronically constitutes conclusive evidence of their acknowledgment and acceptance of all the terms and conditions included therein.
3.4 The Dahab Masr platform does not guarantee any returns on purchases or sales made through the platform, either directly or indirectly. The user bears full responsibility for all transactions made through the platform, including the duty to conduct due diligence and proper analysis before making any decision. The user assumes all responsibility for any resulting profit or loss without any liability on the part of the Dahab Masr platform.
3.5 The Dahab Masr platform begins providing services once the Golden Account is created and all required legal information is provided in accordance with the Know Your Customer (KYC) regulations.
3.6 The user acknowledges that they are not registered for value-added tax (VAT) or goods and services taxes in their respective country. If they are registered, they are obligated to inform the Dahab Masr platform to avoid issues with international or local double taxation, as well as to provide all necessary documentation, including registration documents, when requested by the platform.
3.7 The user acknowledges that gold and/or silver products purchased through the Dahab Masr platform are non-refundable and non-exchangeable, in accordance with Article 13 of the Egyptian Consumer Protection Law’s executive regulations.
3.8 The user acknowledges that the use of the platform and its services is at their own risk, and the company does not provide any guarantees regarding the accuracy, completeness, or availability of information and services. The user assumes all risks and costs associated with using the platform, including any loss or damage resulting from technical errors, service interruptions, or other causes beyond the company's control.
3.9 The Dahab Masr platform does not guarantee that the online order entry system will be available for use 24/7 without interruption. Internet or service provider outages, or device malfunctions, may disrupt the service or delay order processing. The Dahab Masr platform is not responsible for any losses or damages caused by such outages or delays.

 

4 - Gold and Silver Storage

4.1 The user has the right to request that Dahab Masr store the gold and/or silver with a legally licensed entity in accordance with Egyptian law, for a fee determined based on the quantity and value of the purchased gold. This will be arranged via a subsequent electronic or paper agreement between the Dahab Masr platform and the user.
4.2 Dahab Masr has the full right to withhold physical delivery of the gold and/or silver until all agreed-upon fees and reasonable expenses have been paid.
4.3 Dahab Masr may take measures to store the gold and/or silver by depositing it in vaults at Egyptian banks or licensed companies, at the user's expense.
4.4 The Dahab Masr platform or the storage party may sell the user's gold and/or silver by any available means if the user fails to claim it or pay the storage fees, provided the user is notified electronically through their Golden Account of the intent to sell.
4.5 The Dahab Masr platform or the storage party may deduct from the value of the sold gold and/or silver an amount equivalent to the storage fees.

 

5 - Creating a Golden Account and Forming the Contract

5.1 Before initiating any sale, purchase, or other legal transactions on the Dahab Masr platform, the user must create a personal Golden Account, referred to as the "Golden Account." The user must follow the electronic procedures required to create the Golden Account on the platform and submit all required information, including official documentation such as a national ID, passport, commercial registration certificate, tax registration certificate, or other necessary documents. Dahab Masr has the right to retain all documents and information provided and submit them to relevant authorities upon request. The user authorizes Dahab Masr to conduct identity verification with official authorities within or outside Egypt.
5.2 The Dahab Masr platform reserves the right to close the Golden Account if the data provided in paragraph 2.5 is found to be false, misleading, or fraudulently attributed to another person or entity. In such cases, Dahab Masr has the right to withhold or seize the user's gold and/or silver based on a temporary order issued by the arbitration body, as well as freeze the user's bank accounts to secure Dahab Masr's legal claims before the arbitration body.

 

6 - User Obligations

6.1 The user is responsible for keeping their Golden Account data confidential and assumes full responsibility for all transactions made through it. The user must notify Dahab Masr of any unauthorized use of their Golden Account data or any breach or hacking of security or encryption systems. Dahab Masr is absolved of any liability resulting from such unauthorized use or breach or failure to maintain the confidentiality of the Golden Account.

 

7 - Formation of the Contract

7.1 Any request made by the user to enter into a contract involving gold and/or silver, including any legal transactions offered by the Dahab Masr platform, such as buying, selling, or storage, constitutes an offer by the user. The offer must be directed accurately to Dahab Masr and sufficiently detailed in terms of the requested quantity and price, with a clear intention from the Dahab Masr platform to be bound by it in the event of acceptance.
7.2 The user's request to deal with gold and/or silver directed to Dahab Masr is considered an invitation to offer, unless the user has explicitly indicated otherwise.
7.3 The offer takes legal effect once the actual electronic notification reaches the Dahab Masr platform.
7.4 The user may withdraw the offer through the Golden Account, even if the offer is irrevocable, as long as the withdrawal reaches the platform before or at the time of the offer.
7.5 The user may retract the offer until the electronic contract is formed if the withdrawal reaches Dahab Masr before the platform sends acceptance to the user.
7.6 The offer cannot be withdrawn if it is deemed irrevocable due to an instantaneous change in the gold and/or silver price, driven by increased demand at the moment the offer was made.
7.7 The offer, even if irrevocable, is nullified once Dahab Masr rejects it.
7.8 Any statement or action by Dahab Masr, whether through an electronic notice or any other means of notification, indicating acceptance of the offer constitutes acceptance. Silence or inaction by the platform does not constitute acceptance.
7.9 Acceptance takes effect once the notice of acceptance reaches the user, and the offer price is considered valid as per the price displayed on the Dahab Masr platform's pricing screen at the time the acceptance notice is sent.
7.10 The user may specify a time limit for acceptance by Dahab Masr when making the offer. If acceptance is not sent within the specified time, the acceptance will not take effect.
7.11 If the user sends the offer and pays the price, provided they receive prior confirmation of the Golden Account data from Dahab Masr, acceptance is deemed valid at the moment of the offer and payment, provided that both occur without a delay exceeding two minutes.
7.12 If the response to the offer includes acceptance but contains modifications or additions, it is considered a rejection of the offer and constitutes a counteroffer.
7.13 If the response to the offer includes acceptance with supplementary or differing elements that do not result in a fundamental change to the offer, it is considered acceptance unless the user objects within four minutes. If no objection is raised, the contract is deemed to have included the terms of the offer with the amendments specified in the acceptance.
7.14 Additional or differing terms related to the price, quality, quantity, place, or delivery date of the gold, or matters concerning the responsibilities of either party, are considered to fundamentally alter the offer.
7.15 The user’s time limit for acceptance specified in the message sent to Dahab Masr begins from the moment the offer reaches Dahab Masr.
7.16 A late acceptance takes effect if Dahab Masr informs the user electronically without delay.
7.17 The user may withdraw acceptance if the withdrawal reaches Dahab Masr before or at the same time as the acceptance takes effect.
7.18 The contract is formed at the moment the offer is accepted.
7.19 An offer, declaration of acceptance, or any other expression of intent is considered valid when delivered to the other party via Dahab Masr electronically.

 

8 - Obligations of Dahab Masr

8.1 Delivery of Gold and Silver
8.1.1 Dahab Masr must deliver the gold and/or silver to the user and transfer ownership according to the agreement.
8.1.2 If Dahab Masr is not obligated to deliver the gold and/or silver to a specific location, delivery is as follows:
First: Deliver the gold and/or silver to the carrier contracted by Dahab Masr for delivery to the user, according to the address specified in the user’s offer request.
Second: If no delivery address is specified, the gold and/or silver is placed at the user's disposal at the Dahab Masr platform’s headquarters, as indicated on the platform's website.
Third: In other cases, Dahab Masr must place the gold and/or silver at the user’s disposal at the location specified in the identity documents provided by the user and recorded in the user’s Golden Account data.
8.1.3 If Dahab Masr delivers the gold and/or silver to a carrier, Dahab Masr must notify the user of the shipment through the platform, including sufficient details of the gold and/or silver, specifying its quantity, weight, and price.
8.1.4 Dahab Masr enters into separate contracts with companies transporting precious metals or others, which include terms applicable to such transportation. These contracts are considered an integral part of this agreement.
8.1.5 Dahab Masr must deliver the user’s gold and/or silver on the date specified later by the platform through a notice sent to the user on the Dahab Masr platform.

8.2 Delivery of Documents Electronically and in Paper Form

Dahab Masr is obligated to provide all documents related to the ownership of gold to the user electronically through the Dahab Masr platform, and in paper form through shipping documents via the carrier, without imposing any expenses or fees on the user for these documents only.

8.3 Gold Compliance and Third-Party Claims

8.3.1 Dahab Masr is obligated to deliver the gold and/or silver to the user in compliance with the specifications agreed upon in the offer and acceptance notices between the user and Dahab Masr, including its quantity, quality, and packaging.
8.3.2 Dahab Masr is liable for any non-compliance found at the time the risk is transferred to the user. If the user receives the gold and/or silver, they must check for compliance before signing the shipping receipt. If the gold and/or silver does not match the shipping receipt as per the agreed terms, the user must document their objection on the shipping receipt, including their signature, and follow up by sending an electronic notice to Dahab Masr at compliant@dahabmasr.com, stating the non-compliance at the time of receipt.
8.3.3 Dahab Masr is not liable for any non-compliance if the procedures outlined in paragraph 8.3.2 are not followed. Dahab Masr is released from any liability related to compliance unless these procedures are followed. The user forfeits their right to claim any defect, if any, if the procedures mentioned above are not followed.
8.3.4 If the user insists on non-compliance according to the procedures outlined in paragraph 8.3.2, Dahab Masr must supply the user with an alternative gold and/or silver, replacing the non-compliant gold and/or silver in accordance with the terms of the offer and acceptance notices. Alternatively, Dahab Masr must provide the missing gold and/or silver if the non-compliance relates to a shortage in the agreed quantity, all without imposing additional costs on the user.
8.3.5 The user has the right to inspect the gold and/or silver themselves or through another party before signing the shipping receipt. The user may also request that the gold and/or silver be sent to a gold inspection authority, and the user may collect the gold and/or silver at the authority’s address after compliance and signing the shipping receipt.
8.3.6 Dahab Masr must deliver the user’s gold free of any third-party rights or claims unless the user agrees to take the gold and/or silver with such rights or claims, which may include, but are not limited to, leasing, pledging, securitizing, or other legal actions.
8.3.7 Dahab Masr must deliver the user’s gold free of any third-party rights or claims based on industrial or intellectual property rights. However, Dahab Masr may deliver gold subject to third-party industrial or intellectual property rights provided there is a separate agreement on the use, promotion, or distribution rights in favor of the holders of these industrial or intellectual property rights. The user forfeits the right to claim a third-party right or claim if they do not notify Dahab Masr within ten days of receiving the gold.

 

8.4 Penalties for Breaching the Agreement by Dahab Masr

8.4.1 A breach of these terms by either party is considered material if it causes harm to the other party, depriving them of what they were reasonably entitled to expect, unless the breaching party could not have anticipated such an outcome.
8.4.2 The declaration of rescission of a sale or purchase does not take effect unless it is issued electronically on the Dahab Masr platform to the other party.
8.4.3 The user may rescind the sale in the event of non-delivery if delivery is a fundamental requirement based on the offer and acceptance notices and the agreed-upon time frame, as well as any additional period subsequently specified.
8.4.4 The user forfeits the right to rescind if they receive the gold and/or silver either within the agreed time or after the agreed time.
8.4.5 In the event of non-compliance with the agreed terms regarding the gold and/or silver, and if Dahab Masr remedies the defect by any means, the user may not rescind the contract or take any action that would reduce the financial rights of Dahab Masr.
8.4.6 The user may not rescind the sale or purchase or any legal action unless the non-compliance constitutes a material breach, indicating that the non-compliant gold is not gold or the silver is not silver, but another metal altogether.
8.4.7 If Dahab Masr delivers a quantity of gold and/or silver exceeding the agreed quantity in the offer and acceptance notices, the user may either accept the excess quantity or refuse it. If the user accepts the excess quantity, they must pay for it at the price specified in the offer and acceptance notices, or return it to Dahab Masr with the same specifications, failing which they will be liable for legal action, in addition to a right to compensation for Dahab Masr.

 

9 - User Obligations

9.1 The user must pay for the gold and/or silver upfront, whether they receive it or request its storage through the Dahab Masr platform.
9.2 The price of gold and silver is determined based on the price displayed on the Dahab Masr platform and announced on its website and electronic pricing screen, without reference to any other price. The user must comply with the specified price without dispute or reference to any other gold and silver pricing systems.
9.3 The user's obligation to take delivery includes all reasonable actions necessary to enable Dahab Masr to deliver the gold and silver or to collect them.
9.4 If the user refuses to accept the gold and/or silver after paying the price and matching the gold and/or silver to the terms of the offer and acceptance notices, Dahab Masr must store the gold and/or silver at its own facility and follow these steps:
First: Issue a notice offering the gold and/or silver to the user through a court bailiff, as required by the Egyptian Civil Procedure Law (Articles 487, 488), specifying the time and place for collection at the Dahab Masr headquarters as listed on the website.
Second: If the user fails to collect the gold and/or silver by the specified time, Dahab Masr may request permission from the economic court in Cairo to store the gold and/or silver at its own facilities, charging a monthly storage fee of 200 EGP per gram of gold and 150 EGP per gram of silver. These fees will be deducted from the weight of the stored gold and/or silver, and if the storage fees exceed the value of the stored gold and/or silver, the excess amount will be deducted, and ownership will transfer to Dahab Masr.
9.5 The sale agreement is automatically rescinded by an express termination condition if the user fails to fulfill their obligation to collect the gold and/or silver, and Dahab Masr has the right to claim compensation equal to the loss it has incurred and the profit it has missed. Compensation cannot exceed the value of the loss and lost profit for Dahab Masr.
9.6 Upon rescission of the sale, Dahab Masr is released from any obligations imposed by this agreement, without prejudice to any compensation owed to it.
9.7 In the event of force majeure, the obligations of Dahab Masr are suspended, and the company is exempt from any legal liability resulting from such force majeure, in accordance with the definition provided in paragraph 2.7 of these terms.

 

10 - Monitoring and Anti-Money Laundering

10.1 The second party acknowledges that the funds (cash, gold, or silver assets) used to purchase gold and/or silver assets from the first party for investment purposes are derived from legitimate sources. Specifically, the party adheres to the requirements of Article 2 of the Anti-Money Laundering Law, which prohibits laundering money obtained from crimes such as cultivating, manufacturing, importing, exporting, and trafficking in narcotics; crimes involving the hijacking of transportation and the unlawful detention of persons; crimes in which terrorism – as defined in Article 86 of the Penal Code – or its financing is involved; crimes of arms and explosives trafficking without a license; and crimes listed in Chapters 1, 2, 3, 4, 15, and 16 of the second book of the Penal Code, among others, both domestically and internationally, provided that such crimes are punishable under both Egyptian and foreign law.
10.2 The first party must verify compliance with due diligence procedures issued by the Anti-Money Laundering Unit, particularly regarding customer acceptance policies, customer identity verification, data updates, and ongoing monitoring of gold and/or silver investment transactions and the sources of invested funds. It is authorized to obtain identification data and the legal status of the second party and the true beneficiaries, whether individuals or legal entities, through accepted official or customary means, and to record these data. It is prohibited to open investment accounts, link deposits, or accept funds or deposits in anonymous names or fictitious or fake names.
10.3 The first party has the right to apply enhanced due diligence measures to the second party. The second party acknowledges and agrees to allow the first party to obtain additional information from the client, including the size of assets or properties, as well as information on the second party’s source of funds or wealth and other enhanced due diligence procedures mandated by the Anti-Money Laundering Unit.
10.4 The second party agrees and acknowledges that the first party has the right to submit reports to the Anti-Money Laundering Unit if it suspects that certain transactions involve money laundering, without any legal liability imposed on the first party.

 

12 - Governing Law

The provisions of this contract govern any disputes arising from the application or interpretation of this contract. If no provisions are applicable, commercial customs rules will be followed.

 

13 - Dispute Resolution

13.1 In the event of any dispute between the two parties, it will be resolved through negotiation, provided that confidentiality is maintained in accordance with the rules of this contract and the gold and/or silver investment transactions conducted by the first party.
13.2 If the parties are unable to reach an amicable resolution, the competent courts in Cairo will have jurisdiction over any dispute that may arise, should the implementation, interpretation, or clarification of any clause of this contract become necessary.