Terms & Conditions

1. General Provisions
2. Sale of Investment Products
3. Reservation of Purchase Price for Investment Products, Precious Metal Products and Currency Exchange Rate
4. Payment Method and Delivery
5. Order Cancellation and Withdrawal from Transaction
6. Communication and Notifications
7. Legal Matters
8. Final Provisions

Definitions

Investment products are investment gold products in the form of coins or bars, and other precious metal products with the highest standard fineness.

Precious metal products are items made of precious metal with the standard fineness as specified in § 4 (2) of the Precious Metals Products Act (including jewellery, tableware, dental gold), which are not investment products and which Tavid buys from clients for purposes of resale to precious metals refineries.

Investment gold by definition:

• gold, in the form of a bar or a wafer of weights accepted by the bullion markets, of a purity equal to or greater than 995 thousandths.
• gold coins which are of a purity equal to or greater than 900 thousandths, are minted after 1800, are or have been legal tender in the country of origin, and are normally sold at a price which does not exceed the open market value of the gold contained in the coins by more than 80 %.

1. General Provisions

1.1. These general terms and conditions (hereinafter the “Terms”) govern the terms of sale of goods and provision of services offered through the online store www.tavid.ee (hereinafter the “Online Store”) operated by Tavid AS (registry code 10055700, address: Pärnu mnt 186, 11314 Tallinn, Estonia; hereinafter “Tavid”).

1.2. The Terms apply to all legal relationships between Tavid and any person (hereinafter the “Client”) arising from the purchase of products or reservation of services through the Online Store.

1.3. The products and services offered in the Online Store are divided into the following three categories:

• Sale of investment products – transactions in which Tavid sells and the Client purchases investment products made of investment gold or other precious metals;
• Reservation of purchase price for investment products and precious metal products – transactions in which the Client sells and Tavid purchases investment products or precious metal products, and the Client wishes to reserve the price of the product or unit for the transaction;
• Currency rate reservation – transactions in which the Client buys or sells currency from or to Tavid, and wishes to reserve an exchange rate for the transaction.

1.4. In accordance with the classification set out in Clause 1.3, these Terms consist of a General Part (Chapters 1 and 4–8) and a Special Part (Chapters 2 and 3). Chapter 2 governs transactions involving the sale of investment products, and Chapter 3 governs the reservation of the purchase price for investment and precious metal products, as well as currency rate reservations.

If a specific matter is regulated in the Special Part, the provisions of the Special Part shall apply. If the Special Part contains no relevant provision, the provisions of the General Part shall apply. If neither the Special nor the General Part contains an applicable provision, the matter shall be governed by the legislation of the Republic of Estonia.

2. Sale of Investment Products

2.1. Product Information and Prices

2.1.1. Tavid sells investment gold and investment products made of precious metals (including silver and platinum) through the Online Store.

2.1.2. All prices are displayed in euros (€) and include applicable value-added tax (VAT), where relevant. Pursuant to § 16 (2) point 8 of the Value-Added Tax Act (KMS), transactions involving investment gold are exempt from VAT.

2.1.3. The prices of products sold in the Online Store are updated in real time and are based on the global market price of the respective precious metal. Accordingly, prices may change even after products have been added to the shopping cart. Product prices are fixed at the moment the Client places the order by clicking the “Confirm Order” button in the Online Store shopping cart.

2.2. Order Placement and Payment Terms

2.2.1. The Online Store displays the products available for sale, including detailed descriptions and prices. The presentation of such information shall be considered an invitation to make an offer within the meaning of § 16 (3) of the Law of Obligations Act (VÕS).

2.2.2. To place an order in the Online Store, the Client must complete the following steps:

• Add the product(s) to the shopping cart;
• Log in with a Tavex ID account or enter an email address;
• Select the delivery method and payment method;
• In the case of a natural person: enter the name of the person placing the order, personal identification number, phone number, and country of residence. In the case of a legal person: enter the name of the person placing the order, the name of the legal entity, telephone number, and registration code;
• Confirm acceptance of these Terms of the Online Store; and
• Confirm the order by clicking the “Confirm Order” button.

The Client’s placement of an order through the Online Store shall be considered an offer within the meaning of § 16 (1) of the Law of Obligations Act.

3. Reservation of Purchase Price for Investment Products, Precious Metal Products and Currency Exchange Rate

3.1. Through the Online Store, Tavid offers the option to reserve:

• the price at which Tavid purchases from the Client an investment gold product (e.g. gold coin or bar) or an investment product made from another precious metal (e.g. silver coin or platinum bar);
• the unit price in euros (per gram, kilogram, or troy ounce) at which Tavid purchases from the Client a precious metal product (e.g. jewelry gold, dental gold, or table silver); and
• the exchange rate at which Tavid buys or sells currency from or to the Client.

3.2. All prices are stated in euros (€) and do not include VAT. If the transaction is subject to VAT, the VAT will be added to the repurchase price separately.

3.3. The purchase prices and exchange rates shown in the Online Store are updated in real time and are based on global market prices of the respective precious metal or currency. The product price, unit price, or exchange rate is fixed at the moment the Client submits a reservation via the Online Store.

3.4. The Online Store displays the products available for purchase, the fineness of the precious metals, the currencies being traded, detailed product descriptions, unit prices, and exchange rates. The display of such information shall be considered an invitation to make an offer within the meaning of § 16 (3) of the Law of Obligations Act (LOA).

3.5. When the Client submits a reservation via the Online Store to fix the product price, unit price, or exchange rate, such submission is considered an offer within the meaning of § 16 (1) of the Law of Obligations Act.

3.6. After the reservation is submitted, Tavid will send the Client a confirmation via email regarding the reserved product price, unit price, or exchange rate. The reservation is valid for one (1) hour from the time the confirmation is sent to the Client by Tavid.

3.7. If the Client wishes to execute the transaction based on the reserved price, the Client must visit a Tavid sales office within the validity period specified in clause 3.6. If the Client does not arrive at a Tavid office within the specified time and no agreement is made to extend the validity period, Tavid has the right to cancel the Client’s reservation.

3.8. The product prices and unit prices of precious metal products displayed and reserved in the Online Store are valid on the condition that the product and/or quantity being sold by the Client matches the conditions specified in the reservation. Specifically:

• The product must meet the indicated precious metal fineness, which will be verified by a Tavid employee through an authenticity check at the sales point.
• Investment products must be free from damage (including scratches, fingerprints, or other defects affecting commercial appearance).
• Products originally packaged by the manufacturer (especially gold bars) must remain in their original packaging.
• Products sold with certificates (especially gold bars) must include the corresponding certificates.

3.9. As part of the product authenticity verification, Tavid has the right to perform external inspections of the product, including weighing, measuring, and testing the fineness using suitable equipment or acid tests. With the Client’s prior consent—either verbal or in a reproducible written format—Tavid may mechanically process the product, including opening packaging, cutting, or deforming the product, to determine conformity with declared characteristics. If the product is not authentic or does not meet the declared specifications, particularly regarding fineness or weight, Tavid has the right to cancel the reservation and refuse to purchase the product, or to make an alternative offer to the Client.

4. Payment Methods and Delivery

4.1. Payment Methods and Execution

4.1.1. Unless otherwise stated in these Terms, the Client must make payment for the order or visit a Tavid sales office within one (1) hour of submitting the order or reservation. For orders placed on weekends or national holidays, the payment must be received in Tavid’s bank account by 10:30 AM on the next banking day at the latest.

4.1.2. When making a purchase through the Online Store, Tavid offers payment via bank link, card payment, or wire transfer based on an invoice. If the Client wishes to pay in cash, they must inform Tavid accordingly and visit a Tavid sales office to complete the payment.

4.1.3. In transactions where Tavid pays the Client for a product or currency, Tavid offers settlement either in cash or by bank transfer.

4.1.4. Tavid reserves the right to restrict available payment methods based on the type of product being sold or the transaction amount. Tavid may also apply service fees depending on the transaction type; such fees will be clearly displayed prior to order confirmation and will be distinguishable from product or service prices.

4.2. Delivery and Product Collection

4.2.1. When placing an order via the Online Store, the Client can choose between the following delivery methods:

• in-person collection at a Tavid sales office;
• delivery to an Omniva parcel machine; or
• courier delivery.

4.2.2. The cost of delivery is borne by the Client. For deliveries within the Republic of Estonia, the shipping cost is displayed in the Online Store shopping cart and added to the total order amount. The delivery cost is paid together with the order. For deliveries outside Estonia, Tavid and the Client shall agree separately on the terms of delivery.

4.2.3. If the Client chooses to collect the goods personally from a Tavid sales office, no delivery charge will apply.

4.2.4. For deliveries via parcel machine or courier service, Tavid bears the risk of accidental loss or damage to the goods during the entire transit period. The risk of accidental loss or damage transfers to the Client at the moment the goods are received by the Client or by a person acting on behalf of or under the instructions of the Client.

4.2.5. Tavid reserves the right to propose a change in the delivery method if, in Tavid’s assessment, the selected method poses an increased risk. If the Client refuses to change the delivery method, Tavid has the right to withdraw from the transaction.

4.2.6. In the case of courier delivery, the Client or person receiving the delivery must present a valid identity document upon receipt of the goods.

4.2.7. If the Client wishes to collect the order from a Tavid sales office, the order will be released only to the person who made the payment (the Client), upon presentation of a valid identity document. A third party may receive the order only on the basis of a legal right of representation or a valid power of attorney. Information regarding acceptable formats of power of attorney can be obtained from a Tavid representative.

5. Order Cancellation and Withdrawal from Transaction

5.1. Client Rights

5.1.1. The Client has the right to cancel an order before making payment, and to cancel a reservation before concluding a transaction at the reserved price. Once the Client has made payment for the order, the right to cancel the order no longer applies. If the Client voluntarily decides to withdraw from the order after payment (i.e., wishes to cancel it), the Client may sell the product back to Tavid through a separate transaction based on the price list in effect at the time or as agreed upon with Tavid.

5.1.2. The Client has the right to withdraw from a transaction on the grounds provided in the Law of Obligations Act. According to § 53(4), clause 11 of the Law of Obligations Act, the 14-day right of withdrawal under § 56(1) does not apply to contracts where the subject of the contract is a product whose price depends on fluctuations in the financial market beyond the control of the trader and which may occur within the withdrawal period. Therefore, the Client, as a consumer, does not have the right of withdrawal under § 56(1) in transactions involving precious metal products (e.g., gold and silver coins or bars) or foreign currency.

5.1.3. The withdrawal restriction mentioned in clause 5.1.2 does not apply to accessories sold by Tavid, such as gift bags, gift boxes, envelopes, or books. For these products, the consumer retains the right of withdrawal as provided in the Law of Obligations Act.

5.2. Tavid’s Rights

5.2.1. Tavid has the right to cancel the Client’s order if the Client fails to make payment within the deadline specified in these Terms.

5.2.2. Tavid has the right to cancel the Client’s reservation if the Client fails to appear at a Tavid sales office within the time frame specified in these Terms.

5.2.3. Tavid has the right to withdraw from a transaction on the grounds provided by the Law of Obligations Act. Additionally, Tavid may withdraw from a transaction at any time in the event of extraordinary circumstances. Such circumstances include, but are not limited to, the following:

• a malfunction in the IT system, resulting in incorrect product pricing or stock information displayed in the Online Store;
• an extraordinary situation in the global market causing a significant change in the price of precious metals or currency;
• disruptions in the supply chain of products or currencies outside of Tavid’s control (e.g., lost or damaged goods during transport), making it impossible to fulfill the Client’s order;
• the Client refuses to provide information required to fulfil obligations under the Money Laundering and Terrorist Financing Prevention Act or other applicable legal obligations binding on Tavid;
• the Client or a related party is subject to an international financial sanction, or the Client’s intended transaction would violate applicable trade sanctions.

5.2.4. In the event of withdrawal from the transaction, Tavid will notify the Client as soon as possible using the contact details provided by the Client. If the Client has already made payment for the order, Tavid will refund the amount to the same bank account from which the payment was received, within five (5) business days from the date of the withdrawal decision, unless otherwise agreed by the parties.

5.2.5. Tavid shall not be liable for any direct or indirect damages suffered by the Client as a result of withdrawal from the transaction, including, but not limited to, loss of profits, damages resulting from currency exchange rate fluctuations, or other property-related losses.

6. Communication and Notifications

6.1. All communication between the Client and Tavid regarding reservations, order placement, modifications, cancellations, withdrawal from transactions, or any other actions related to the transaction shall take place either by telephone or in a format that allows for written reproduction (e.g., via email, the online store’s chat window, or another electronic channel previously agreed upon with Tavid).

6.2. Tavid shall consider binding only the information and declarations of intent submitted via the following contact details:

• Telephone: +372 627 9900
• Email: tavid@tavid.ee

6.3. Tavid reserves the right to record all electronic and telephone communications to ensure the protection of rights and to provide proof of contractual obligations.

7. Legal Matters

7.1. Processing and Protection of Personal Data

7.1.1. Tavid processes the Client’s personal data in accordance with the General Data Protection Regulation (GDPR), the Personal Data Protection Act (IKS), and its established data protection terms (available at: https://tavid.ee/andmekaitse-tingimused/).

7.2. Anti-Money Laundering and Counter-Terrorism Financing

7.2.1. Tavid has the right to request from the Client any information and documents necessary to fulfill its obligations under the Money Laundering and Terrorist Financing Prevention Act (RahaPTS) and other applicable legal acts.

7.2.2. Tavid has the right to refuse to execute a transaction, to withdraw from a transaction, suspend its execution, or cancel a reservation if the Client fails to provide the required information or documents, provides incomplete data, or if circumstances arise that may indicate unlawful activity.

7.3. Intellectual Property Protection

7.3.1. All content on the website www.tavid.ee and its subpages, including texts, design, logos, trademarks, images, graphics, software, and databases, belongs to Tavid or is used by Tavid under a license and is protected by intellectual property rights. Without Tavid’s written consent, it is prohibited to copy, distribute, translate, publish, or otherwise use any content from the website.

7.4. Dispute Resolution

7.4.1. Tavid and the Client shall endeavor to resolve all disputes arising from the contract or the Terms primarily through negotiations. If no agreement is reached, the dispute shall be resolved in Harju County Court, unless otherwise stipulated by law.

8. Final Provisions

8.1. Matters not regulated in these Terms shall be governed by the legislation of the Republic of Estonia, including the Law of Obligations Act and other relevant laws and regulations.

8.2. Tavid reserves the right to unilaterally amend these Terms. Amendments to the Terms shall enter into force upon their publication on the website www.tavid.ee, unless stated otherwise. The Terms in effect at the time the order or reservation is placed shall apply to the Client. These Terms are effective as of 16 July 2025.

8.3. If any provision of these Terms is found to be invalid or void, such invalidity shall not affect the validity of the remaining provisions. The invalid provision shall, where possible, be replaced by a provision that most closely reflects the purpose and substance of the invalid one.

8.4. These Terms have been drafted in Estonian. Informative translations may be made available in other languages, but the Estonian version shall always be legally binding.

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