How do I complain?

It is up to you to decide whether you want to raise an informal complaint or a formal one. The key difference between the two is that BullionVault itself resolves informal complaints. Formal complaints are resolved by independent parties.

The informal complaints procedure is usually more accessible and responsive for you because our managers can act immediately, as they think appropriate. Consequently all complaints ordinarily start off as informal and BullionVault seeks to act favourably with every fair-minded customer with a genuine grievance.

Complaints get promoted to formal complaints when a customer is dissatisfied with our response or proposed resolution.

A formal complaint is addressed to a committee of independents which meets infrequently - and then only if formal complaints are outstanding. You will be advised when the next planned formal complaints committee meets in response to your formal complaint.

Formal complaints would ordinarily concern unresolved informal complaints arising from apparent unfairness or breaches of BullionVault Terms and Conditions by BullionVault with direct loss to a customer resulting.

Informal complaints procedure

Informal complaints can be made by emailing to the informal complaints email address on our contacts page.

Informal complaints will be acknowledged by BullionVault within 2 working days and will be the subject of management investigation and response within 1 week. A failure to reach a satisfactory resolution within 2 weeks shall entitle the complainant to raise a formal complaint on the issue at any time during the following six months, but in any event the complainant and BullionVault may continue seeking redress on an informal basis.

Formal complaints procedure

Before you make a formal complaint ...

• Have you made an informal complaint first?
• Have you suffered a direct loss?

If the answer to either of these questions is no your complaint will not ordinarily cause the formal complaint procedure to be initiated.

Formal complaints can be made by emailing to the formal complaints email address on our contacts page.

Formal complaints will be assessed and adjudicated by an independent council of BullionVault users unconnected with the shareholders or management of BullionVault but appointed because of their experience of the market and its technology.

A BullionVault representative will have an organising role and the right to represent the BullionVault position to the council, but no powers of adjudication.

The findings of the council will be posted on the BullionVault website. The council may at its discretion identify the Customer — but ordinarily will not. The council's findings will not be binding in law on either BullionVault or the Customer but its findings can be used by either party in any submission that either party might make to court.

Formal complainants will be required to post $100 (or other currency equivalent) to the BullionVault compensation fund, which will be forfeit in the event of the complaint being deemed by the council trivial or an idle nuisance. This sum will always be returned in the event of a complaint being upheld, and also returned if the complaint is ultimately rejected but deemed made seriously and with a reasonable expectation of being upheld.

Crime

Do you believe a crime has occurred on BullionVault?

In most circumstances of suspected crime it would be prudent to contact BullionVault first if you believe BullionVault management would be capable of acting to minimise the effect of any criminal activity.

Nevertheless allegations of criminal theft, or fraud, or other crimes, can be made directly to the London Metropolitan Police. There is no need for such an allegation to be preceded by a complaint to BullionVault and any such requirement would deny customers their civic right to the protection due to them under statute law via the appropriate forces of law enforcement.