Terms of trade Sequoyah Vaulting
Safe deposit box rental terms
1.1 The expressions used in these terms of business are defined as follows:
“Access” means the access which a renter has to a safe deposit box or vault, accessible during the company’s business hours, or at times set by the company.
“Box/Vault” means the specified safe deposit box or private vault which the renter agrees to rent from the company.
“Company” means Sequoyah Vaulting, Danish Central Business Registry no. 38 83 87 84, Østerbrogade 137, 2100 Copenhagen Ø, Denmark.
“Renter” means the person renting a safe deposit box or vault.
2.1 These terms of business (the “Terms”) apply to the Renter’s application for use of a safe deposit box or private vault.
2.2 Signature by the customer shall be deemed acceptance of the Terms.
3.1 Prior to granting the Renter access to a safe deposit box or vault, the Company requires that the Renter fill out an application form (master data) to establish the purpose of the rental and the Renter’s identity. The Renter shall also specify one or more personal representatives who may access the safe deposit box or vault in the event of the renter’s death or disappearance.
4. Use of safe deposit box or vault
4.1 The Renter may not use the safe deposit box or allow the safe deposit box to be used for the storage of liquids, illegal goods, explosives, weapons, or other objects of a dangerous nature. Stored objects shall not cause a disturbance to the Company or its other Renters. The Box shall not be used for any purpose other than the storage of valuables or other, similar belongings. Upon request, the Renter shall allow the Company to inspect the contents of the Box for the purpose of establishing compliance with this condition. Should the Company suffer damages or losses, or incur liabilities as a result of the Renter’s infringement of this condition, the Renter shall fully compensate the Company for such damage, loss, or liability.
4.2 The Vault is exclusively for the storage of precious metals in connection with a bullion account.
5. Fees and insurance
5.1 The Renter shall pay a semi-annual fee in Danish kroner (see price sheet) to rent a Box. The Company may freely change this fee provided that the Renter is given three months’ notice before the new fee takes effect. Before use of the Box, a deposit of 2500 DKK must be paid, which shall be refunded upon termination of the rental. The deposit does not accrue interest.
5.2 The Renter may only rent space in the Vault in connection with a bullion account held with the Company. The rental fee shall be set at the time the bullion account is opened.
5.3 Any damage to the Box not arising from reasonable wear and tear shall be remedied exclusively by the Company, at the Renter’s expense.
5.4 The contents of the Box are not covered by the Company’s insurance.
5.5 Precious metals stored in the Vault are covered by the Company’s insurance.
6.1 At any time, the Renter may annul the contract with the Company by giving the Company notice at least 3 months in advance of the desired date of termination.
6.2 At any time, the Company may annul the rental agreement without warning, and without providing any reason.
6.3 Immediately after the annulment, the Renter shall remove all contents from the Box, return the keys and card to the Company, and sign a document attesting that the keys and card have been returned. Until this document has been signed, the Renter shall be obligated to pay fees for the rental of the Box.
6.4 No fee or deposit shall be refunded to the Renter until the rental arrangement has been terminated.
6.5 The contents of the Vault shall be returned to the Renter, or sold and returned to the Renter’s bank account, depending on the agreement concluded between the Company and the Renter for the settlement of bullion accounts and their contents.
6.6 In the event that the Company is unable to contact the Renter or the Renter’s personal representative as specified in (the master data), and the Box or Vault rental has been terminated for more than 6 months, the Company shall appoint an executor to settle the rental agreement in accordance with Danish law.
7. Death of the Renter
7.1 In the event of the Renter’s death, the Renter’s personal representatives or other authorised persons may be granted access to the Box; subsequently, the rental agreement may be annulled after any outstanding charges have been paid, and the Box may be emptied of its contents.
7.2 The Company may, at its own discretion, without liability for losses or damages, regardless of what has occurred, and regardless of what may occur, allow any executor with a documented right to administer the estate of the deceased Renter to open the Box and inspect its contents for the purpose of preparing an inventory of the estate. This may occur at any time in the presence of a Company official. The executor may not remove any of the Box’s contents, except in accordance with the Renter’s wishes or written will/testament. The executor must be able to document such a testament/authorisation, and the Company shall retain a copy of the document.
8. Personal data
8.1 The business’s processing of personal information and other data from the Renter shall be carried out in accordance with the Renter’s instructions, and the Company shall act in accordance with applicable data protection legislation at all times.
9.1 Any dispute between the Company and the Renter arising from the Application and Terms shall be under the jurisdiction of the Danish courts.