Terms of Use

Preamble

KARA (hereinafter the "Company") is a simplified joint-stock company with a capital of 8,000 euros, registered in the Paris Trade and Companies Register under number 995 361 474, with its registered office located at 28 rue Vivienne, 75002 Paris..

KARA is part of the Godot & Fils group and operates a mobile application that allows eligible users to buy, sell, hold, transfer, and, where this feature is available, request the physical delivery of precious metals, in particular investment gold expressed in grams through a dematerialized representation held in an account.

The website https://kara.gold/ is intended for informational and marketing purposes. Transactions may only be conducted via the mobile app or, where applicable, through any other digital channel expressly approved by the Company.

These General Terms and Conditions (the "General Terms and Conditions" or "GTC"), which set forth the terms of sale, use of services, and use of the App, are intended to define all terms applicable to the services provided by KARA, the opening and operation of the user account, transactions in precious metals, any transfers between users, ancillary services, regulatory compliance, the protection of personal data, and the respective liabilities of the parties.

Any registration, access to services, transaction, scheduled order, or request for transfer or physical delivery constitutes full, complete, express, and unreserved acceptance of these General Terms and Conditions and, where applicable, the pricing terms in effect on the date of the transaction.

The Company reserves the right to deny access to the services, suspend any account, defer any transaction, request any additional information, and, more generally, take any necessary measures to preserve the security of the platform and ensure compliance with its legal, contractual, prudential, tax, ethical, and compliance obligations.

Article 1 - Definitions

For the purposes of interpreting these General Terms and Conditions, the following terms shall have the meanings set forth below, whether used in the singular or plural:

"Application": the KARA mobile application operated by the Company, enabling access to the services and the performance of the transactions offered.

"Customer" or "User": any natural person of legal age, acting for non-professional purposes, who holds an active, validated, and non-suspended user account.

"User Account": the secure personal space opened in the Customer's name within the Application.

"Metals Accounts": the separate internal accounts opened within the Application for each precious metal offered, in which the quantities held by the Customer, expressed in grams, are recorded; these accounts are neither bank accounts, nor payment accounts, nor electronic money instruments.

"Precious Metals": refers to the metals offered via the Application on the date of the Transaction, in particular investment gold, and, where applicable, any other precious metal that the Company may decide to offer, with each metal being recorded separately in a Metals Account.

"Applicable Price": the price displayed in the Application at the time of the transaction's final confirmation; this price is the sole binding price and may include the market price, as well as costs related to procurement, structuring, storage, insurance, operations, logistics, and hedging, along with a sales margin and applicable fees

"Spot Price": any market indicator displayed for informational purposes only and is not binding.

"Transaction": any purchase, sale, transfer, conversion, physical delivery, or, more generally, any transaction involving precious metals offered in the Application.

"Storage Service": the secure custody service for precious metals corresponding to Clients' account holdings, provided directly or indirectly by the Company or by any service provider appointed by it

"Physical Delivery": the transaction whereby the Client requests the delivery of a physical product corresponding to all or part of the quantity of metal recorded in the account, subject to the technical, commercial, regulatory, and logistical conditions set by the Company

"Reference Bank Account": the bank account opened in the Client's name and validated by the Company for financial transactions related to the services

Article 2 - Scope of Application

These General Terms and Conditions govern all contractual relationships between KARA and the Customer in connection with the use of the Application, subscription to the services, and any transaction conducted digitally.

They shall prevail over any contrary stipulation made by the Customer, unless expressly agreed to in writing by the Company. The Company may further supplement these General Terms and Conditions with specific terms, fee schedules, risk disclosures, compliance policies, codes of conduct, promotional rules, informational notices, or specific operational documents.

The services are reserved for natural persons of legal age with full legal capacity. Legal entities, unauthorized agents, nominees, third-party accounts, joint accounts, unapproved trustees, and professional use are excluded, unless expressly agreed to in writing by the Company.

Full and unconditional acceptance of these Terms and Conditions is evidenced by the User's registration on the Application, use of the Application, or any direct or in connection with Kara. This acceptance is a prerequisite for any use of the Services and any Transaction.

Article 3 - Nature of Services and Absence of Banking or Investment Services

KARA offers a digital solution for accessing precious metals, particularly investment gold, with balances displayed in grams and euros based on the data available in the Application.

The User Account and the Metal Accounts do not constitute a bank account, a payment account, a refundable public deposit, a financial instrument, an investment service, an electronic money service, a securities account, or a financial instrument custody service.

The Company does not provide any investment advice, wealth management advice, tax advice, legal advice, or personalized recommendations. The Client acts under his or her sole responsibility, after assessing the suitability of the services for his or her financial, tax, and personal circumstances.

Precious metals are volatile assets whose value may fluctuate both upward and downward. No guarantee of performance, liquidity, redemption, price, preservation of value, convertibility, or continuous market availability is provided to the Client.

Article 4 - Registration and Account Opening

Access to transactions is subject to the creation of a User Account and the full completion of the identification, verification, and compliance procedures required by the Company.

The know-your-customer process may include, in particular, the collection and verification of a front-and-back copy of an ID, a video-based liveness check, proof of address, a bank identification statement, as well as any questionnaire or additional document regarding customer due diligence, risk assessment, source of funds, or financial situation deemed necessary by the Company.

KARA may grant limited access to certain interfaces prior to KYC validation, but no purchase, sale, transfer, or physical delivery transaction may be executed until the required verifications have been completed to the Company's satisfaction.

The Client guarantees the accuracy, truthfulness, completeness, and ongoing updating of the information provided. Any anomaly, inconsistency, omission, doubt, document tampering, risk of fraud, suspicion of a straw man, identity theft, or non-compliance authorizes the Company to suspend or refuse the account and transactions, without compensation.

Article 5 - Compliance, AML/CFT, Sanctions, and Ethics

The Company, in coordination with the relevant entities of the Godot & Fils group, implements measures for compliance, anti-money laundering and counter-terrorist financing, fraud prevention, adherence to economic sanctions and embargoes, as well as the detection and handling of atypical or suspicious transactions.

The Client represents that the funds used in connection with the services derive from lawful activities and are not involved, either directly or indirectly, in money laundering, terrorist financing, corruption, trafficking, tax evasion, sanctions evasion, or any other unlawful activity.

The Company may, at any time and without notice, when it deems it necessary, block, suspend, defer, refuse, or cancel a transaction, restrict access to the account, request additional supporting documents, conduct enhanced reviews, report a transaction to the competent authorities, or terminate the relationship, should any regulatory, reputational, criminal, tax, operational, or compliance risk be identified.

As part of the rollout of the Group's standards, KARA aligns its compliance framework with the ISO 37001 standards relating to anti-corruption management systems, ISO 37301 regarding compliance management systems, as well as with the requirements, best practices, and principles of traceability, due diligence, supply chain integrity, and governance expected under the LBMA standards that the Godot & Fils Group intends to obtain or maintain.

These references constitute commitments regarding governance, organization, and continuous improvement of the Group's framework; they shall not be interpreted as an immediate individual certification of the Client, an independent guarantee for the Client's benefit, or as a waiver by the Company of its powers of assessment, control, suspension, or refusal.

Article 6 - Metals, Registry, and Storage

Only the metals offered via the Application on the date of the transaction are available for purchase or sale. The Company remains free to modify at any time the list of metals, products, services, formats, thresholds, delivery options, and available features.

The metals offered are backed by one or more pooled reserves, stored and audited in one or more Helveticor vaults in Zurich, with a nominal register maintained to ensure correspondence between each user and the quantities recorded in the account.

Unless expressly stipulated otherwise, the metals corresponding to the account entries are pooled. The Client acknowledges that, prior to any actual physical delivery, they hold a personal contractual right to a specific quantity of metal as per the Company's records, without any individual physical allocation to tokens, bars, coins, or ingots specifically identified in their name.

Article 7 - Prices, Fees, and Formation of the Contract

The contractual price applicable to any transaction is the applicable Price displayed in the Application at the time of the Client's final confirmation. Any other information, simulation, notification, indicative spot price, advertisement, promotional message, editorial content, or previous screenshot has no contractual value.

Separate spreads or fees may apply depending on the nature of the transactions, including for purchases, sales, recurring purchases, expedited transfers, additional services, physical delivery, or promotional offers. These fees may be included in the displayed price or billed separately, as presented in the Application.

The Company may modify its pricing policy, minimum thresholds, maximum thresholds, fees, spreads, discounts, referral programs, limits, and execution conditions at any time. Such modifications apply to transactions concluded after they take effect.

The transaction is only finalized after the summary is displayed, the Client expressly confirms it, funds are received or effectively confirmed when required, internal controls are completed, and there are no technical issues, obvious pricing errors, suspected fraud, market anomalies, or compliance blocks. The Company reserves the right to refuse or cancel any transaction affected by a manifest error or exceptional circumstance, or where a breach is identified.

Article 8 - Payment and Designated Bank Account

Payments relating to Transactions carried out via the Application are processed exclusively through the 1POINT6 payment solution, a subsidiary of the BNP Paribas Group, acting as a payment service provider in accordance with applicable regulations.

The Customer is informed and agrees that financial flows related to Transactions (receipts, payments, and any refunds) are processed through the payment infrastructure operated by 1POINT6, within the framework of a secure technical system that complies with prudential requirements, anti-money laundering and counter-terrorism financing regulations, and, more generally, with regulations applicable to payment services.

The Total Purchase Price is due immediately upon the Customer's confirmation of the Transaction. The purchase Transaction is deemed final only after effective validation of the payment by 1POINT6 and/or by the relevant account-holding institutions. In the event of a payment refusal, incident, cancellation, or rejection by 1POINT6 or by the banking institutions, the Transaction may be automatically canceled, without compensation to the Customer.

The Company reserves the right to refuse, suspend, or cancel any Transaction, particularly in the event of suspected fraud, non-compliance with regulatory obligations, a payment incident, exceeding spending limits, a malfunction in the payment infrastructure, or a decision by 1POINT6 or partner banking institutions. The Company shall not be held liable for any decisions or malfunctions attributable to 1POINT6 or credit institutions, subject to applicable public policy provisions.

The Company may require that any payment be made from a payment card in the Customer's name and/or a bank account opened in the Customer's name and may refuse any payment from a third party, unauthorized business accounts, high-risk countries or institutions, or payment methods incompatible with its compliance obligations.

Article 9 - Purchase of Precious Metals

9.1 Initiating a Purchase

The Customer may purchase, via the Application, all or part of the Precious Metals offered by the Company, subject to compliance with the minimum and maximum thresholds and conditions displayed at the time of the Transaction, as well as all applicable compliance obligations.

The purchase request is made exclusively from the User Account accessible via the Application. The Customer specifies the amount in euros and/or the quantity in grams they wish to purchase. Before final confirmation, the Application displays: the applicable unit price, any fees, and the total amount to be debited (hereinafter the "Total Purchase Price").

9.2 Determination of the Purchase Price

The price applicable to each purchase transaction is the price displayed in the Application at the time of the Customer's final confirmation of the transaction (hereinafter the "Applicable Price").

The "spot" price of Precious Metals that may be displayed in an informational section of the Application is for informational purposes only. It constitutes a market reference price that may change in real time and shall not constitute the contractual execution price of a Transaction.

The Applicable Price is determined by the Company according to an internal methodology that takes into account, without limitation: market conditions, procurement costs, holding costs (including, in particular, storage and insurance), operating expenses, as well as a sales margin.

The Customer expressly acknowledges that the execution price of their purchase may differ from the spot price displayed for informational purposes in the Application and that the applicable Price may change at any time depending on market conditions. Due to the volatility of the Precious Metals markets, the price may change between the time of consultation and the confirmation of the Transaction; only the price confirmed upon final confirmation by the Customer is binding.

9.3 Composition of the Total Purchase Price

For each purchase Transaction, the total amount owed by the Customer (the "Total Purchase Price") includes:

the financial consideration corresponding to the quantity of Precious Metal purchased;
any applicable fees or commissions, as indicated in the Application at the time of the Transaction.

Applicable fees are clearly displayed in the App prior to the confirmation of the Transaction. The Customer acknowledges that a purchase Transaction will only be executed after explicit confirmation on their part, which constitutes acceptance of the applicable Price and associated fees.

9.4 Rounding and Display Precision

Gold quantities held by the Client and related euro amounts are calculated and stored internally with a higher decimal precision than what is displayed in the Application, on invoices, and in any other document provided to the Client.

Values presented to the Client (gold balances in grams, euro amounts, unit prices) are rounded to two (2) decimal places for readability purposes. Such rounding applies solely to display and does not alter the exact values used for the calculation and execution of Transactions.

As a result, minor discrepancies may appear between displayed amounts and the results obtained by manually applying the rounded figures shown. The contractual reference value is the exact value maintained internally by the Company. The Client acknowledges and agrees that display rounding does not constitute a contractual inaccuracy and shall not give rise to any claim on that basis.

9.5 Registration in the Metals Account and operational lag

Once the purchase Transaction has been confirmed and payment has been definitively accepted, the corresponding quantity of Precious Metals is credited to the Client's Metals Account.

Even if the Client's Metals Account in the Application is immediately credited with the amount corresponding to the validated Transaction and the debit is effectively processed on their payment method, the Client is informed that there may be a delay between this account entry and the operational allocation of the corresponding quantity of pooled Precious Metals to the Company's pooled reserve(s).

This delay may result in particular (without this list being exhaustive) from constraints related to the updating of internal records and information systems, reconciliation and control operations, supply flows, manufacturing lead times, and adjustments to the pooled inventory, logistical constraints inherent to the Precious Metals sector, as well as additional regulatory verifications required in connection with anti-money laundering, counter-terrorism financing, economic sanctions, or any other applicable legal or prudential obligation.

The Client expressly acknowledges and agrees that, during this period, the entry in the Metals Account reflects a contractual claim to a specific quantity of Precious Metals as recorded in the Company's books, but that the operational allocation of the quantity of pooled Precious Metals within the pooled inventory may occur within a variable timeframe depending on market conditions, security requirements, internal control processes, and constraints specific to the Precious Metals supply chain.

No compensation, penalty, or damages may be claimed by the Client solely due to the existence or duration of this time lag between the account entry and the operational allocation of the pooled tokens, provided that the Company carries out this allocation within a reasonable timeframe given the aforementioned constraints and in the absence of gross negligence on its part that has been duly proven.

9.6 Recurring Purchase Plan

The Client may schedule automatic purchases of Precious Metals via the Application. To this end, the Client shall define:

the amount of each purchase;
the frequency of execution (weekly or monthly);
the associated payment method.

Each Transaction executed as part of a recurring purchase plan is carried out at the Price applicable at the time of its actual execution. No price is guaranteed in advance.

In the event of a failed payment, the scheduled Transaction is not executed.

The Customer may modify or cancel a recurring purchase plan at any time via the Application.

Amount limits may be applied for security or regulatory compliance reasons. These limits may be adjusted after review of the Customer's file.

9.7 Irrevocability and Right of Refusal

Once validated by the Customer, the purchase Transaction is in principle irrevocable, subject to mandatory legal provisions and the cases of suspension, cancellation, or refusal provided for in these General Terms and Conditions, in particular for reasons of security, compliance, payment issues, or manifest error.

The Company may, at any time and at its discretion, cap, split, defer, refuse, or impose conditions on the execution of any purchase request, in particular for reasons of liquidity, security, compliance with regulatory or internal limits, anti-money laundering and counter-terrorism financing, fraud prevention, tax risk, requests from authorities, or, more generally, any legitimate reason.

No execution is guaranteed in the event of illiquidity, market anomalies, supply disruptions, extreme volatility, technical unavailability, market suspension, a decision by an authority, force majeure, or any event beyond the Company's reasonable control. In such cases, the Company's liability shall not extend beyond, where applicable, the refund of amounts received in connection with an unexecuted purchase, to the exclusion of any other compensation, penalty, or damages.

Article 10 - Sale of Precious Metals

10.1 Initiating a Sale

The Customer may, at any time, request the sale of all or part of the quantities of Precious Metals held in their Metal Accounts via the Application, provided they have a sufficient balance and comply with the limitations, limits, and conditions in effect on the date of the request.

The sale request is made exclusively from the User Account accessible via the Application. The Customer specifies the amount in euros and/or the quantity in grams that they wish to sell. Prior to final confirmation, the Application displays: the applicable unit price, any applicable fees, and the total net amount to be paid to the Customer (hereinafter the "Total Sale Price").

10.2 Determination of the Sale Price

The price applicable to each sale transaction is the one displayed in the App at the time of the Customer's final confirmation of the transaction (hereinafter the "Applicable Price").

The Customer expressly acknowledges that the execution price of their sale may differ from the spot price displayed for informational purposes in the Application and that the applicable Price may change at any time depending on market conditions. Due to the volatility of the Precious Metals markets, the price may change between the time of consultation and the confirmation of the Transaction; only the price confirmed upon final confirmation by the Customer is binding.

10.3 Composition of the Total Sale Price

For each sale Transaction, the amount paid to the Customer (the "Total Sale Price") corresponds to the proceeds from the sale of the Precious Metals, net of applicable fees or commissions.

Applicable fees are clearly displayed in the Application prior to the confirmation of the Transaction. The Customer acknowledges that a sale Transaction will only be executed after explicit confirmation on their part, thereby accepting the applicable Price and associated fees.

Once confirmed by the Customer, the Sale Transaction is in principle irrevocable, subject to mandatory legal provisions and the cases of suspension, cancellation, or refusal provided for in these General Terms and Conditions, in particular for reasons of security, compliance, payment issues, or manifest error.

10.4 Payment Terms

The Total Sale Price is paid to the Customer via bank transfer to the designated bank account, opened in their name, previously provided and verified in the Application.

The Company endeavors to process the payment as soon as possible after final validation of the Transaction, and, when technical and banking conditions permit, the transfer may be executed almost instantly.

However, the settlement time may vary depending on, among other things: interbank processing times, applicable regulatory checks (particularly those related to anti-money laundering and counter-terrorist financing - AML/CTF), any additional verifications, requirements of payment service providers, or technical constraints beyond the Company's control.

Consequently, settlement may take several business days in certain cases, without this giving rise to any liability on the part of the Company provided that it has taken reasonable measures and is acting in accordance with its legal and contractual obligations. The Company reserves the right to suspend or defer payment in the event of a legal or regulatory obligation, a blockage by a payment service provider or a banking institution, or serious doubt regarding the validity of the transaction.

10.5 Limitation, Suspension, and Refusal Powers

The Company may, at any time and at its discretion, cap, split, defer, refuse, or impose conditions on the execution of any sell order, in particular for reasons of liquidity, security, market risk, compliance with regulatory or internal limits, anti-money laundering and counter-terrorism financing, fraud prevention, tax risk, requests from authorities, or, more generally, any legitimate reason.

No execution is guaranteed in the event of illiquidity, market anomalies, supply disruptions, extreme volatility, technical unavailability, market suspension, a decision by an authority, force majeure, or any event beyond the Company's reasonable control. In such cases, the Company's liability shall not extend beyond, where applicable, the refund of amounts received in connection with an unexecuted sale, to the exclusion of any other compensation, penalty, or damages.

Article 11 - Transfers Between Users

When this feature is active, the Customer may transfer a specified quantity of precious metal held in their account to another eligible user, in accordance with the technical procedures defined in the Application.

Transfers are limited to users with an active, verified, and unrestricted account. The Company may require additional checks, set limits on amounts, restrict certain categories of recipients, or refuse a transfer for any reason related to compliance, security, fraud, or reputational risk.

Internal transfers may be capped to comply with AML/CFT requirements.

The Customer remains solely responsible for the civil and tax classification of any transfer they initiate or receive, particularly regarding customary gifts, donations, declarations, or taxes due, as KARA assumes no responsibility for providing advice or personalized tax planning in this regard.

Article 12 - Physical Delivery and In-Store Pickup

12.1 Delivery Request

The Customer may request, at any time, the physical delivery of all or part of the Precious Metals held in their Metal Accounts, subject to:

having a sufficient balance;
meeting the minimum delivery quantity (in grams) specified in the App;
requesting a quantity corresponding to a multiple of the sizes offered in the App at the time of the request.

The delivery request is made exclusively through the Personal Area accessible via the App.

At the time of the request, the Customer selects the available physical format(s) (including 1-gram coins or any other offered format) as well as the GODOT & FILS partner branch from which they wish to collect the physically delivered Precious Metals.

The applicable fees, including manufacturing costs and, where applicable, availability or delivery fees, are displayed transparently prior to final confirmation of the request. Confirmation of the request constitutes firm and irrevocable acceptance of the fees and terms of availability.

The Company reserves the right to cap, split, defer, reject, or impose conditions on any request for physical delivery, particularly based on the amount or volume involved, the Customer's profile, the frequency of requests, logistical constraints, identified risks, and applicable regulatory obligations. Requests for physical delivery involving a significant unit or aggregate amount may, in particular, be blocked, subject to a specific process, requests for additional information or supporting documents, or result in enhanced warnings and controls, particularly to limit tax, fraud, and non-compliance risks.

No execution is guaranteed in the event of illiquidity or unavailability of formats, market anomalies, supply disruptions, extreme volatility, operational closure of certain logistics channels, technical suspension of systems, failure of a service provider, administrative or judicial injunction, regulatory risk, or serious doubt regarding the validity of the transaction. In such cases, the Company may refuse, postpone, or cancel physical delivery, with no further obligation other than, where applicable, to refund to the Client the quantities debited or the amounts collected in connection with the unexecuted transaction, to the exclusion of any other compensation, penalty, or damages.

12.2 Terms of Delivery

The provision of physically delivered Precious Metals shall take place within an indicative maximum period of fourteen (14) business days from the final approval of the request, subject to:

the actual payment of applicable fees;
there being no regulatory impediments or suspicion of fraud;
and the operational constraints of the partner responsible for making the metals available.

The Customer is notified by email and/or via the App of the availability of the physically delivered Precious Metals at the branch.

12.3 In-Branch Pickup

Withdrawal takes place exclusively at the GODOT & FILS branch selected by the Customer when requesting delivery.

Upon pickup, the Customer must present:

a valid official ID;
and sign a receipt confirming receipt of the physically delivered Precious Metals.

Physical delivery may involve the provision of standard formats offered at the time of the delivery request, corresponding to the requested quantity, without there necessarily being a physical identity between the Precious Metals initially acquired and those delivered. The Customer acknowledges that they hold a contractual right to a specific quantity of Precious Metals, and not to individual tokens, coins, or bars.

12.4 Transfer of Risk

The risks associated with physically delivered Precious Metals are transferred to the Client at the time of their physical delivery at the branch, as evidenced by the signature on the delivery receipt.

It is the Client's responsibility to verify, upon withdrawal, the apparent conformity of the physically delivered Precious Metals (quantity, product type, apparent condition of seals or packaging). Any dispute regarding the condition or apparent conformity of the physically delivered Precious Metals must be raised immediately upon pickup and noted on the delivery receipt or any ad hoc document. After this point, no claim regarding the appearance or external condition will be considered, subject to any contrary mandatory legal provisions.

12.5 Miscellaneous

A request for physical delivery results in the immediate debiting or reservation of the corresponding quantities from the Client's Metals Account. It is, in principle, irrevocable after validation, unless the Company expressly decides otherwise.

For logistical, operational, security, and efficiency reasons, as well as due to the availability of formats, customs restrictions, transportation, insurance, manufacturing, supply, consolidation, or equivalent substitution, KARA may provide the Customer, upon physical delivery or any performance in kind, with metals drawn from inventories located in Paris or at any other location of the Group or an authorized partner, provided that the quantity, nature, purity, and economic value owed to the Customer are met.

The Customer expressly acknowledges and agrees that such logistical fulfillment, including from Paris, constitutes a contractually agreed method of performance, that it does not affect the validity of the transaction, that it does not constitute a novation, a breach of contract, or a failure to conform, and that it cannot, on its own, serve as grounds for any tax, civil, commercial, or indemnity claim against KARA, except in cases of proven gross negligence

Delivery times are approximate. The Company shall not be held liable for delays attributable to carriers, insurers, manufacturers, customs authorities, security incidents, force majeure, regulatory constraints, or compliance measures.

The Customer shall bear the costs, taxes, duties, formalities, risks, and obligations resulting from the delivery as of the handover to the carrier or, where required by law, as of the physical handover, depending on the applicable classification of the transaction.

Article 13 - Taxation

Any tax information presented in the Application, FAQs, certificates, marketing communications, or informational documents is of a general, informative, and non-exhaustive nature; it does not constitute tax advice, legal consultation, or a guarantee regarding the tax regime applicable to the Customer's personal situation

The Company reserves the right to implement any blocking, specific process, information collection, withholding, declaration, documentation, certification, limitation, or special treatment it deems necessary to reduce its tax, regulatory, or criminal exposure and protect its interests.

Article 14 - Right of Withdrawal

In accordance with Article L.221-28 of the French Consumer Code, the purchase of Precious Metals whose price depends on fluctuations in the financial market does not give rise to a right of withdrawal.

Precious Metals physically delivered to a branch may not be returned or exchanged by the Company, unless otherwise required by mandatory law or with the Company's express, exceptional consent. Any subsequent transaction (sale, repurchase, etc.) will be subject to a new, separate Transaction, under the terms and conditions then in effect.

Consequently, any purchase or sale transaction confirmed by the Customer is final and irrevocable, unless there is a manifest error attributable exclusively to the Company or a mandatory provision to the contrary.

Article 15 - Availability of the Application

The Application is provided "as is," subject to maintenance, updates, corrections, upgrades, or unavailability resulting from networks, third-party systems, app stores, technical service providers, external events, or regulatory requirements.

The Company does not guarantee continuous availability, freedom from errors, latency, interruptions, or vulnerabilities. It may suspend all or part of the features at any time, without compensation, for technical, commercial, regulatory, security, or operational reasons.

Article 16 - Customer Obligations

The Customer agrees to use the services in good faith, in accordance with applicable laws, these Terms and Conditions, security guidelines, and the Company's instructions.

In particular, the Customer is responsible for maintaining the confidentiality of their login credentials, securing their equipment, keeping their contact information up to date, and promptly reporting any anomalies, loss, unauthorized use, suspected fraud, change in circumstances, or event that may affect their risk profile or the execution of transactions.

The Customer shall refrain from any fraudulent, speculative, abusive, or unauthorized automated use; circumvention of limits; artificial fragmentation of transactions; manipulation; social engineering; reverse engineering; scraping; compromise of system integrity; or use of the Application for the benefit of an undeclared third party.

Article 17 - Intellectual Property

All intellectual property rights attached to the Application, the website, the interfaces, the databases, the algorithms, the trademarks, logos, graphic guidelines, content, names, commercial documents, and technical or editorial elements are reserved for the exclusive benefit of the Company, the Godot & Fils group, or their partners.

No rights other than a personal, temporary, limited, non-exclusive, and non-transferable right of use are granted to the Customer. Any unauthorized reproduction, extraction, reuse, adaptation, distribution, commercialization, or exploitation is prohibited.

Article 18 - Liability and Limitations

The Company is bound by a general obligation of means. It is liable only for direct, personal, certain, and foreseeable damages resulting from a proven fault that is exclusively attributable to it.

Subject to public policy provisions, the Company is not liable for losses related to market fluctuations, the Client's choices, the service's unsuitability for the Client's needs, delays in payment or delivery, technical unavailability, network failures, acts of third parties, decisions by authorities, security incidents, force majeure events, or tax, financial, or regulatory consequences specific to the Client's situation.

Furthermore, the Company shall not be held liable for any inability to perform resulting from a legal or regulatory obligation, a compliance review, a freeze, a sanction, an embargo, an official injunction, reasonable doubt regarding the legality of the transaction, or a measure taken in good faith to protect its interests or those of the group.

In any event, except in cases of gross negligence or fraud and unless otherwise required by mandatory provisions, the Company's total liability, for all causes combined, is capped at the amount of fees collected by KARA in connection with the disputed transaction.

Article 19 - Personal Data and GDPR

In connection with the provision of services, KARA collects and processes the Customer's personal data, including identification, contact, authentication, transaction, compliance, anti-fraud, payment, browsing, and traceability data, as well as, where necessary, copies of identification documents, proof of address, bank account details, liveness check elements, and risk scoring information.

The purposes of this processing include opening and managing the account, executing transactions, managing payments, preventing fraud, ensuring the security of the Application, complying with legal and regulatory obligations, combating money laundering and terrorist financing, complaint management, service improvement, internal statistics, operational communication, and, where permitted by law, marketing.

Data processing is based, as applicable, on the performance of the contract, compliance with legal obligations, the Company's legitimate interests, and, where required, the Customer's consent. Data may be disclosed to entities within the Godot & Fils group, technical service providers, payment service providers, KYC partners, hosting providers, carriers, insurers, advisors, auditors, administrative or judicial authorities, and more generally to any authorized recipient to the extent necessary.

The Customer has, under the conditions provided for by applicable regulations, the right to access, rectify, erase, restrict, object to, and withdraw consent where consent is the legal basis for processing, as well as the right to data portability where applicable. The Customer may also establish post-mortem directives and file a complaint with the CNIL.

Where certain rights cannot be fully exercised due to legal obligations regarding retention, evidence, security, anti-fraud measures, AML/CFT, or the defense of the Company's interests, KARA may limit the scope of such rights under the conditions permitted by applicable regulations.

Requests regarding personal data may be directed to KARA Customer Service or to any dedicated contact address provided in the App. It is recommended that you include any documentation verifying the requester's identity to ensure the secure processing of the request.

Article 20 - Referral Program

Principle

The Company may offer a referral program allowing Users to obtain promotional benefits under the terms defined in the App.

Participation in the referral program is optional and implies full and unconditional acceptance of these Terms and Conditions as well as the specific rules of the program displayed in the App.

The referral program is activated as soon as a new User uses a referral code or link during registration.

Definitions

The "Referrer" refers to a User with an active and verified User Account on the App who holds a valid referral code.

The "Referred Person" refers to any individual who has never held a User Account on the App, who uses the referral code or link during registration, and who meets all applicable eligibility requirements.

Eligibility Requirements

For the referral to be valid, the Referred Person must complete their registration and identity verification, complete the KYC process, provide proof of the source of funds if applicable, and make an initial Transaction for a minimum amount specified in the App. The specific conditions displayed in the App at the time of the referral must be met.

A single User may only be considered a Referred Person once. Any attempt at self-referral, use of multiple accounts, or fraud will result in the cancellation of the relevant benefits and may lead to the closure of the User Account, without compensation.

The public or commercial distribution of a referral code may result in suspension or exclusion from the program, without prejudice to any remedies the Company reserves the right to pursue.

Reward

The nature and amount of the reward are defined in the Application at the time of participation in the program. The reward may consist, in particular, of a credit expressed in grams of Precious Metals, a financial benefit, or any other promotional benefit determined by the Company.

The reward is only earned after verification of compliance with all program conditions. It does not constitute an acquired right until it has been definitively credited to the Referrer's Account.

Modification or Termination of the Program

The Company reserves the right to modify, suspend, or terminate the referral program at any time, without notice, subject to the rights already acquired by Users. The Company may cancel or revoke any reward obtained in violation of these Terms and Conditions or the program's specific rules.

Tax Liability

Benefits obtained through the referral program may have tax implications for the Referrer or the Referred Person. Each User remains solely responsible for complying with their tax obligations in this regard. The Company shall not be held liable for any tax consequences arising from referral benefits.

Article 21 - Performance Indicators and Visualization Tools

The Company provides the User, via the Application, with visualization tools that allow the User to view, for informational purposes only, indicators relating to changes in the value of the Precious Metals held in their Metal Accounts. These indicators may include, in particular, the current value of the Metals held, the total amount invested, the total amount recovered, and so-called "unrealized" performance expressed as an absolute value or a percentage.

The User expressly acknowledges and agrees that these indicators are provided for purely indicative and informational purposes, that they are based on data and prices that may vary at any time, and that the calculation methods used by the Company may change, particularly in the event of technical, regulatory, or methodological adjustments.

These indicators do not constitute a legally binding valuation, a guaranteed execution price, a commitment by the Company, investment advice, a personalized recommendation, a financial analysis, or an incentive to buy, sell, or hold Precious Metals.

The Company does not guarantee the absolute accuracy, completeness, or real-time updating of the displayed indicators. These may be affected by update delays, technical rounding, IT constraints, or temporary incidents beyond the Company's control.

Consequently, the Company shall not be held liable for any decision made by the User based on the performance information displayed in the Application. It is the User's sole responsibility to assess the appropriateness of their transactions and, where applicable, to conduct their own analyses or verifications.

Article 22 - Closure of the User Account

Closure at the Client's Request

The Client may request the closure of their User Account at any time via the Application or by written notice sent to customer service. Closure is subject to there being no Transactions currently in progress, no ongoing regulatory verification procedures, and the prior liquidation of all Precious Metals registered in their Metal Accounts. Available funds will be transferred to the designated bank account within a maximum of 3 months following the effective closure.

The Company may postpone the closure as long as there are outstanding obligations or ongoing regulatory audits.

Closure at the Company's Initiative

The Company may suspend or close the User Account, without compensation, particularly in the event of: a breach of these General Terms and Conditions; the provision of inaccurate or misleading information; suspicion of fraud or illegal activity; failure to comply with AML/CFT obligations; a payment incident; or a request from an administrative or judicial authority. Closure may take effect immediately when the seriousness of the circumstances warrants it. Unless prohibited by law, the Client will be notified of the decision.

In the event of closure, the Precious Metals held in the Metal Accounts will be subject to a sale transaction at the price applicable at the time of liquidation. The net proceeds will be transferred to the Client's designated bank account, after deduction of any amounts due.

Inactivity

In the event of a complete absence of Transactions for a period of twelve (12) consecutive months and provided that the balance of each of the Metal Accounts is zero, the Company may proceed with closure following a notification that has remained unanswered for thirty (30) days.

Consequences of Closure

As of the effective closure, the Client can no longer access the Services and no new Transactions may be executed. The Company retains the data necessary to comply with its legal and regulatory obligations for the applicable periods.

Death of the Client

The death of the Client results in the immediate suspension of the User Account upon receipt of proof. The Precious Metals held in the Metal Accounts are retained as part of the Storage Service pending instructions from the notary handling the estate or from duly authorized beneficiaries. The beneficiaries may request the execution of a sale transaction at the applicable price or the transfer of the corresponding quantities to a User Account opened in their name, subject to acceptance of these General Terms and Conditions. Applicable fees continue to accrue until the final settlement of the estate. In the absence of valid instructions, the Company may proceed with the sale of the Precious Metals and retain the proceeds pending their legal distribution.

Article 23 - No Guarantee as to the Value of Precious Metals

The Company does not guarantee, under any circumstances, the future value of Precious Metals, price trends, or the absence of market fluctuations. The legal warranties referred to above relate exclusively to the physical conformity of the goods delivered and not to their market value.

Article 24 - Initiation of Insolvency Proceedings

In the event that insolvency proceedings are initiated against the Company, the Clients' rights to the Precious Metals registered in their Metal Accounts constitute personal claims relating to a specific quantity of Precious Metals expressed in grams.

The terms of restitution (in kind or in value) will depend on the rules applicable to insolvency proceedings and the decisions of the proceedings' governing bodies. The Client acknowledges that the terms of restitution may depend on the decisions of the judicial authorities and the applicable procedural constraints.

The return of the Precious Metals or, where applicable, the rights pertaining thereto, shall be carried out in accordance with the rules applicable to insolvency proceedings and under the supervision of the bodies designated by the competent court.

Article 25 - Force Majeure

In accordance with Article 1218 of the Civil Code, a force majeure event is any event beyond the control of the Party concerned, which could not reasonably have been foreseen at the time the contract was concluded and whose effects cannot be avoided by appropriate measures, thereby preventing the performance of its obligation.

The following, in particular, may constitute cases of force majeure: natural disasters, fires or major accidents, wars or acts of terrorism, decisions by administrative or judicial authorities, general strikes, major and unforeseeable failures of telecommunications networks or internet infrastructure, and outages affecting technical service providers, hosting providers, payment service providers, or third-party operators on which the operation of the Application depends, provided such events are not attributable to the Company.

In the event of a force majeure event, the performance of the affected obligations shall be suspended for the duration of the impediment. The Party invoking force majeure shall notify the other Party as soon as possible and shall use its best efforts to limit the effects of the event.

If the impediment continues for more than thirty (30) days, either Party may terminate the contractual relationship without compensation, by written notice. In the event of a permanent impediment, the contract is automatically terminated in accordance with the provisions of Articles 1351 and 1351-1 of the Civil Code.

Article 26 - Modification of the General Terms and Conditions

The Company reserves the right to amend these General Terms and Conditions at any time, in particular to adapt them to changes in regulations, the Services offered, or the Application's features.

Any amendment shall be notified to the Customer by any appropriate means within 24 hours of its entry into force.

In the event of disagreement with the new General Terms and Conditions, the Customer may, prior to their effective date, either cease using the Services or request the closure of their User Account in accordance with the terms set forth herein.

In the absence of an objection or a request for closure prior to the effective date, the amended Terms and Conditions shall be deemed accepted. The Company may not suspend or close the Customer's Account solely due to the refusal of the new Terms and Conditions until after a formal notice has remained without effect and subject to compliance with applicable legal provisions.

Article 27 - Governing Law - Dispute Resolution - Mediation - Competent Jurisdiction

Governing Law

These General Terms and Conditions are governed by French law.

Prior Complaint

In the event of a dispute regarding the validity, interpretation, performance, or termination of these Terms and Conditions or a Transaction, the Customer is invited to submit a written complaint to the following address: support@kara.gold. The Company will endeavor to seek an amicable resolution as soon as possible.

Mediation - Consumer Customers

In accordance with the provisions of the French Consumer Code, the Customer acting as a consumer may, free of charge, seek the assistance of a consumer mediator to resolve the dispute amicably. In the absence of a prior amicable resolution, the consumer Customer may refer the matter to the following mediator:

Institut d'Expertise d'Arbitrage et de Médiation (IEAM) - Association under the 1901 Law - Palais du Tribunal des Activités Économiques de Paris - 1 quai de la Corse - 75004 Paris. The Customer must refer the matter to the mediator within a maximum period of one (1) year from the date of their written complaint to the Company.

In accordance with Article 14 of Regulation (EU) No. 524/2013, the European Commission also provides an online dispute resolution platform accessible at the following address: https://ec.europa.eu/consumers/odr

Competent Jurisdiction

In the event that mediation fails or for any dispute not subject to mediation: the consumer Customer may bring the matter before the competent court in accordance with the rules of the Code of Civil Procedure and the Consumer Code. If the Customer does not qualify as a consumer, express jurisdiction is assigned to the competent courts within the jurisdiction of the Paris Court of Appeal, including in cases involving multiple defendants or third-party claims.

Article 28 - Miscellaneous

Entire Agreement - No Waiver

These Terms and Conditions constitute the entire agreement between the Company and the Customer regarding the use of the Application and the execution of Transactions. They supersede and nullify any prior agreement, commitment, exchange, or communication having the same subject matter.

No forbearance, abstention, or omission on the part of the Company in exercising any right provided for herein shall be construed as a waiver of such right. Any modification or derogation from these General Terms and Conditions may only result from an express written agreement.

Partial Invalidity

If one or more provisions of these General Terms and Conditions are declared null and void, unenforceable, or invalid pursuant to a law, regulation, or final court decision, the remaining provisions shall remain in full force and effect. The affected provision shall be replaced, to the extent possible, by a valid provision reflecting the Parties' original economic intent.

Headings

The headings of the articles and sections contained in these General Terms and Conditions are included for convenience only and shall not affect their interpretation.

Evidence Agreement

Computerized records, data stored in the information systems of the Company or its technical service providers, as well as connection logs, timestamps, electronic confirmations, and Transaction records constitute admissible and enforceable evidence between the Parties.

The Customer acknowledges that the validation of a Transaction via the Application constitutes definitive consent to the transaction carried out, that the acceptance of these General Terms and Conditions by electronic means has the same probative value as a written and signed agreement, and that electronic communications (notifications, emails, confirmations) constitute evidence between the Parties. Electronic data retained by the Company or its service providers shall be deemed authentic until proven otherwise.

Terms of use