GEMSAVES GLOBAL VAULTS – TERMS AND CONDITIONS
/ we present for your consideration this formal application to apply for
the rental of a Safe Deposit Box from Gemsaves and in so doing, it is
agreed and understood that the provisions that apply will be governed
exclusively by the terms and conditions set out hereunder in this
agreement.
GEMSAVES VAULTS --SAFE DEPOSIT BOX RENTAL AGREEMENT
1. It is agreed and understood that in circumstances where we act
and sign on behalf of a Corporate client, we are authorized to do
so and the terms and conditions herein are deemed to apply in all
respects to the beneficial owner whether that owner be Private or
Corporate client.
2. I / We accept and confirm payment on demand of the sums set out
hereunder without any deductions for any reason. It is agreed that
the fee’s set our hereunder constitute the total cost to rent the
safe deposit box for the prescribed period (including Vat if
applicable) but excluding optional Insurance cover.
3. I/we accept and agree that all such fees are non- refundable and
payable in advance and I / we accept and agree to pay anyfurther
fees / penalties or costs associated with the provision of the
service that may arise from time to time subject to the terms and
conditions set out hereunder. I / we have thoroughly understood
the said terms and conditions and undertake to comply as an
inherent component of the service being provided.
4. All fees/penalties are to be paid in advance by cash/ Cheque /
credit card payment or approved On- Line Payment option and
the service provided once funds have been cleared by your
respective Bank.
5. Access to the Safe Deposit Box will be restricted to the applicant
whose name and personal details have been provided and/or
restricted to the applicants sole nominated representative,
detailsof which are set out in the Authorized Representative
Form attached for this purpose.
6. In all circumstances, the terms and conditions of usage in every
respect are deemed to apply and to be accepted by the Applicant
and by any such nominated Authorized representative and that
authorization isrestricted to a single nominated representative at
any one time.
7. Applicants and their nominated Authorized Representative are
obliged to provide copies of Passport and verifiable contact
details. Clientsrenting on behalf of a corporateentity are obliged
to also provide a Copy of Certificate of Registration and Trade
License of the Company on whose behalf the rental agreement
has been signed. Additional documents may be requested at the
absolute discretion of Gemsaves.
8. The undersigned applicant shall give Gemsaves their signature
and such signatures shall be conclusive evidence of the
applicant’s knowledge or/and assent to the terms and
conditionsmentioned herein and this shall without repetition
apply to the renewals and for realization of all fees Gemsaves
mayfrom time to time apply in accordance with the terms and
conditions of this agreement.
9. LOSS OF KEY / CARD
The locker can only be operated using the Swipe Card, 4
Digit personal Pin, Key and Biometric control. In
circumstances where the applicant has misplaced either
theCard or the Key or both, a replacement card /key or
both will be required to facilitate access. Should the
applicant lose a Swipe card / Key, Gemsaves should be
notified IMMEDIATELY in writing so that all appropriate
security precautions can be taken.
10. There are additional security precautions that will apply in
circumstances where Gemsaves deems it appropriate to
issue a replacement Card /Key or both. An application to
replace lost keys will take a minimum of 5
working days to process and replacement key’s will only be
issued upon receipt of the appropriate penalty payment, details
of which Gemsaves reserve the right to adjust at its discretion.
The current penalty fee to be applied in the event of a
replacement of Card is set at 500 USD and replacement of Locks
/ Key is set at 1000 USD
11. The applicant must never attempt to open the locker with a key
other than the one supplied by Gemsaves nor divulge the Pin
number of the Swipe card or any other details toany
unauthorized person.
12. IN THE CASE OF DEATH:
In the case of Death of the applicant only the legally appointed
executor(s) or administrator (s) of the deceased’s estate shall be
recognized by Gemsaves as having full authority to access the
Safe Deposit Box on provision of the appropriate requirement of
probate or letters of administration and upon such terms &
conditions as to indemnify Gemsaves asit may believe
appropriate in the circumstances. The liability for payment of
the hire charges, fees and penalties each or all of/onthe locker
will remain with the applicants and can be realized/enforced out
of the contents of the locker on which Gemsaves shall, by this
agreement, be deemed to retain a lien for this express purpose.
13. In the event of the death of the beneficial owner of the safe
deposit box and there is an authorized nominated individual
legally registered on the contract, that nominated individual will
continue to retain unlimited access to the safe deposit box unless
and until a legally appointed executor (S) or Administrator (s) of
the deceased beneficial owner acts to issue instructions to
remove authorization from the nominated 2
nd person.
14. In the event of the death of an applicant, and no Prior written instructions /
arrangements have been made, signed and attested too, should an
application be made by the relative or relatives of a deceased for tracing or
discovery of any testamentary writing stored in the Safe Deposit Box,
Gemsaves may at its discretion and /or in circumstances where appropriate
proof is provided to establish the relationship by court of law probate/
Succession Certificate, along with the key(s) to the Locker, , permit
inspection of the contents of the locker in the presence of witness deemed
appropriate by Gemsaves however we shall not be obligated to hand over
any contents to include any such Testament without an order from a
competent court with jurisdiction.
15. On receipt of an order from a competent court restraining access to the
applicant, Gemsaves will be obliged as an inherent componentof the
terms and conditions of this agreement to comply.
16. Gemsaves reserves the right to alter from time to time access tothe facility
and to make sort term or indeed permanent changes to the nominated
working hours without notice
17. In circumstances where it is considered critical to act without notice,
Gemsaves reserves the right to take all appropriate legal actionnecessary
to ensure compliance with regulatory requirements and In those
circumstances, Gemsaves has a clear policy to involve Local Security
Authorities to ensure a seamless and legally compliant elimination of any
perceived risk.
18. Should Gemsaves decide to change the location of its service, wereserve the
right to provide 30 days’ notice in writing to the applicant offering accessto
the new facility and to move the Safe Deposit Box intact at Gemsaves Costs
and under safeguards deemed by local security
19. It is also agreed and understood that in extraordinary
circumstances, Gemsaves must reserve the right to close the Safe
Deposit Box facility for such time as may be considered critical. In
those circumstances, every reasonable practical notice will be
provided and all efforts to facilitate access under emergency
circumstances will be facilitated where possible.
Contract Termination and / or Renewal
20. The Applicant will be notified not less than one
month before the rental period is due to expire and
terms and conditions provided to TERMINATE or renew
the contract if required. In circumstances where the
term of rental has expired and the renewal option has
not been exercised, the applicant must return the Card
and keys provided having first emptied the contents of
the Safe Deposit Box within the period of paid rental.
No contract will be considered Terminated until such
time as the safe deposit box has been confirmed empty
by the client and both keys have been returned and all
outstanding rental fees / penalties have been discharged.
Gemsaves shall have the first lien or chargeon the
contents of the locker in cases of NO RESPONSEto
Gemsaves reasonable efforts to elicit a response to
renew or terminate the contract, non- payment of
renewal fees or penalties, (each or any).
In default where all reasonable notice has been provided
advising of the non-compliance and consequences
therein, Gemsaves shall have the right to takethe
following actions at their absolute discretion without
further notice.
21. Reasonable notice deemed to be multiple notifications in
writing, text, whatsapp and calls or any combination
thereof to the contact details provided on registration
AND a minimum period of 60 days have elapsed during
which the contract has been in default.
22. If following 60 days from expiry of contract AND the
client has failed to respond and /or confirm the Box
has been emptied / Return both keys, Gemsaves
reserves the right at its absolute discretion and
without further notice to TERMINATE any Insurance
cover that may be in place.
23. If following 60 days from expiry of contract AND the client has failed to respond and /or confirm the Box has been emptied / Return both keys, Gemsaves also reserves the right atits absolute discretion to revoke all rights and privileges pending settlement of all outstanding matters.
24. Rental fees will continue to accumulate at the pro rata market rate
and an additional Penalty of 500 USD per month in default
thereafter will be applied at the absolute discretion of Gemsaves.
Clients will NOT be permitted to access their safe deposit box until
such time as all notified fee’s/ penalties applied have been
discharged in full.
25. IN ADDITION and SUPERSEDING ALL OF THE ABOVE:
Following a period of 60 days in default with no
response or agreed solution, Gemsaves, mayat its
absolute discretion be obliged to force the Safe Deposit
Box open and realize its entitlements to all outstanding
fees and any penalties that may have arisenand any
reasonable outstanding costs that have been incurred
dues, fees & penalties as applicable at that time by
public or private sale of the whole or part of the
contents of the locker.
26. Should there be any remaining deficit on outstanding
fees, Gemsaves, shall be entitled to recoverany such
fees from the applicant using any such meansas may
be legally appropriate. In circumstances where any
such actions are necessary, the applicant may notbe entitled to raise any objection thereafter to the nature and
extent of the contents in the locker or to the regularity of the
sale thereof which shall be final, conclusive and binding on the
applicant
27. The applicant is obligated to report ANY suspicious activity,
damage or incident of any kind to their Safe Deposit Box to
Gemsaves and in so doing any such notification will immediately
trigger a clearly defined policy and procedural control within
Gemsaves. It is clearly understood that the undersigned applicant/s
agrees to be governed by and to abide by all rules and
regulations/terms & conditions that Gemsaves may from time to
time adopt relative to the running of the safe deposit box facility
without prior notice.
28. Notwithstanding any insurance policy that may be put in place by
Gemsaves, there are NO circumstances in which Gemsaves has
any liability of any kind arising out of anyindirect or consequential
loss howsoever it may be incurred (whether direct or indirect)
arising out of or about the provision ofSafe Deposit Box services.
29. Notification of any Insurance claim shall be made immediately any
conditions exist that warrant such an action being taken by
completing the Insurance Claim form available from the
Management of the Safe Deposit Box center.
30. PROHIBITED ITEMS
It is agreed and understood that Gemsaves reserve theright to
comply unconditionally with all the regulatory framework
underpinning the provision of Safe Deposit Box services across her
locations and in accepting the terms and conditions of this
agreement, the applicant undertakes to unconditionally cooperate with any such demand from the appropriate authorities.
This is a premium service operated in accordance with Global Best
Practice and in strict accordance with the laws and regulations of
the Government. It is a criminal offence to use the Safe Deposit
Box for any purpose which is illegal or criminal intent.
31. It is agreed and understood that it is the exclusive responsibility of
the applicant to ensure that Nothing Discriminatory or illegal will
be kept in the Safe Deposit Box at any time. More specifically,
Applicants undertake to indemnify and prevent anything deemed
by law or accepted social norms to be illegal, offensive, immoral,
indecent, obscene, poisonous, corrosive, inflammable. The
applicant further agrees to ensure NO PROHIBITED items shall be
stored in the Safe Deposit Box at any time.
32. Prohibited items are deemed to be: Illegal or Harmful material of
ANY KIND, inflammable or explosive material, any stolen items of
any kind, any item deemed to cause offence or persons or deemed
to be immoral or obscene. Any item used in any act of violence,
crime or terrorism or any item which by its nature could cause
harm howsoever it may be caused. It is also prohibited to store
chemicals, drugs or any substance which might be obnoxious,
poisonous, corrosive, explosive or constitute a hazard or warrant
special handling. It is prohibited to store firearms of any kind,
ammunition, knives or any weapon of any kind. It is also prohibited
to store for ANY PERIOD any substance or material which may be
banned or restricted import. It is prohibited to store the proceeds
of crime, drug trafficking, prostitution or any criminal activity of
any kind otherwise considered unlawful. Should you have ANY
doubts of ANY KIND, please speak pro- actively to management to
avoid Non- Compliance.
33. All communications mandated by the terms of this agreement shall
be deemed to have been served in circumstances where
correspondence is sent to the registered contact details provided
on registration.
The terms/agreement/conditions set out above supersedes all and every prior correspondence or anyadditional written agreements
or documents.