GENERAL CONTRACT TERMS AND CONDITIONS for trading with precious metals

(hereinafter:“General Terms”) of MORO&KUNST d.o.o., Ljubljana

(Accessibility of the General Terms)

The General Terms complement the special provisions of the contract between the Moro company and the customer, and are a constituent part of the contract between Moro and the customer, binding for both parties, accessible to the customer at all times (24 hours a day) on the company’s Website in electronic form, or at the registered office of Moro&Kunst d.o.o. at Dunajska 156 in Ljubljana, Slovenia (on the ground floor of the WTC building) in paper form.

The General Terms shall apply as applicable at the time Moro received the customer’s order.

(Subject of the General Terms)

The General Terms apply to the sale and purchase of gold, silver, palladium, platinum and rhodium (investment in precious metals) for investment purposes.

(Placing of orders)

Customers shall always place their orders in writing, not least for reasons of transparency and verifiability, via post (order personally signed), fax or email (hereinafter: the order), or via our secure online service (our Webshop) on Moro’s Website during trading hours, i.e. between 9.00 a.m. and 4.30 p.m. Monday through Thursday, and between 9.00 a.m. and 1.00 p.m. on Friday. Products in our “Special Offer” can also be ordered outside the company’s regular opening hours, i.e. also between 4.30 a.m. and 9.00 a.m. of the following day, every day, including all annual holidays, unless otherwise provided by the company Moro.

By placing an order, the customer agrees to be informed of and consents to the General Terms.

(Conclusion of a sales contract)

The contract shall be entered into if, when and to the extent that the company Moro accepts the order.

The price applicable at the Moro company at the time of receipt of the order shall be deemed agreed (Moro explicitly points out that discrepancies in the price applicable at the time of placement of the order and that applicable at the time of receipt of the order may occur as a result of price changes on the precious metals exchange), and more specifically the price applicable on the precious metal exchange upon acceptance of the order, unless otherwise agreed between the parties in writing.

Due to price fluctuations on the precious metals exchange, Moro will contact the customer as soon as possible after receipt of the order, via phone, fax or email, etc., informing them of whether the order is accepted and the terms of the order. To ensure the agreed price, Moro will order the requested precious metals from the mint immediately after receipt of the customer’s order.For products ordered from the “Special Offer” (Article 3.1), the customer will receive a confirmation and acceptance message to their email address by 9.30 a.m. of the first working day following the placement of the order.

As prices of precious metals are subject to continuous fluctuations on the precious metals exchange over which Moro does not exert any control, the customer does not have the right to withdraw from the contract under Article 43 of the Consumer Protection Act (ZVPot) on distance contracts once Moro has accepted the order.

If the customer acts contrary to point 4.4, they shall bear responsibility for all related costs and damages incurred by Moro.

(Purchase from the Webshop)

For the purchase of precious metals from the Webshop on Moro’s Website, all provisions of these General Terms shall apply, except where otherwise stipulated for individual cases in this, point 5.

To enter the Webshop, the customer must log in with the user name and password they received upon registration.Once logged in, the customer can choose products from our Webshop and place them in the purchases basket.Before confirming their purchase, the customer must read the General Terms and tick the box to declare that they agree to them (it is not possible to confirm the purchase without ticking the relevant box).

The customer can freely add or remove products from the shopping basket until the purchase is confirmed.

By confirming the purchase (clicking the “Confirm purchase” button, etc.), the contract between the customer and Moro is entered into.By confirming their purchase, the customer agrees to the price/prices applicable at that moment as per the price listed on the Webshop as well as to the General Terms, and confirms to have been fully informed of them prior to conclusion of the contract.

(Costs of transportation and delivery)

The costs of secure transport and protection of the precious metals from the supplier’s location to the company Moro are included in the price.

Unless otherwise agreed in writing, prices shall include free delivery to Moro’s premises at the address: Dunajska 156, Ljubljana, Slovenia.The costs for delivery to an address other than that of Moro shall be borne by the customer according to the applicable price list of Slovenia’s postal service Pošta Slovenije.

(Payment of purchase price)

The purchasing party shall pay the full purchase price not later than by 11 a.m. of the working day following the day of receipt of the order unless otherwise agreed by the parties in writing.This is agreed because, due to the continuous price fluctuations on the metal exchange, Moro will in turn order the requested precious metal from the mint immediately after receipt of the customer’s order (conclusion of the contract).


The Moro company commits to transfer the purchase price received from the customer to the supplier (the mint, etc.) on the same day, but no later than in the morning of the following day so as to ensure transacting at the agreed price. Failure to do so shall oblige Moro to pay interest for each day of default pursuant to Article 41 of the Consumer Protection Act.

(Payment of purchase price by a third party)

If the purchase price is paid by a third party on behalf of the customer, the customer must submit to Moro an irrevocable and unconditional statement of the party effecting the payment (certified by a notary public at the customer’s expense if Moro so desires) that the party made the payment on behalf of the customer and that there are no reservations, limitations, etc. on the paid goods to be delivered to the customer.

In accordance with the provisions of the Prevention of Money Laundering and Terrorist Financing Act (ZPPDFT), the customer commits to present all identification data for both the person effecting the payment and the actual customer on behalf of whom the payment was made.

(Delivery period)

The customer is informed that Moro purchases precious metals from mints through the stock exchange.Depending on the market situation (e.g. increase in demand, unusual or extraordinary conditions, etc.), Moro shall therefore be entitled to an extension of the delivery period if and when justified by the aforementioned conditions or circumstances, with which the customer expressly agrees when and by placing an order.

Moro commits to notify the customer in writing of any extension of the delivery period as soon as (and if) it has in turn been notified by its suppliers.

Without prejudice to the first paragraph of this Article, the delivery period for distance contracts (contracts entered into pursuant to Article 43 of the Customer Protection Act) must not exceed 30 days from their conclusion, unless otherwise agreed by the parties.

If Moro cannot fulfil its obligations within the extended delivery period or within the period mentioned in the previous paragraph applying to distance contracts, it can unilaterally withdraw from the contract by notifying the customer and refunding all payments (nominal purchase price paid without interest) unless the customer insists, before such process is initiated, that the contract be performed.In the event of a withdrawal from the contract as mentioned herein, it shall be assumed that the contract has not been entered into and the contract process shall terminate when the statement of withdrawal is sent by registered mail.

(Refusal of an order)

Moro is in no way obligated to accept any sales or purchase order in the event of that there arises a suspicion of money laundering, doubts as to the customer’s performance of the contract, material defects, doubtful origin or provenance and similar.

(Products traded by Moro)

Moro trades exclusively in gold bars included in the Good Delivery list of the London Bullion Market Association (LBMA), and in coins included in the list of the EU Council Directive 2006/112/EC.

Specifically, Moro shall not purchase precious metals that are not classified according to the Precious Metal Articles Act or whose authenticity, quality, origin, provenance, etc. are doubtful, or gold for which there is no basis for VAT exemption.


Moro trades in coins complying with the criteria listed under Article 344(1), point 2 of the EU Council Directive 2006/112/EC.These coins have a purity of at least 900/1000, were coined after the year 1800, were once legal tender in their country of origin and are generally not bought for collection purposes.

Moro may refuse to buy medals or coins that have numismatic value.

(Purchase of other precious metals)

Moro shall purchase articles of precious metals at its own discretion.

(Protection of personal data)

With respect to the collection and processing of personal data, the provisions of the “Legal notification”, accessible on the Website shall apply.Moro distinctly commits to abide by all applicable regulations related to protection of personal data and to act accordingly.


Moro declares to have adopted a resolution of business confidentiality binding all its employees and external contractors.

(Resolution of disputes)

All relationships between Moro and its customers shall be subject to Slovene substantive law.

In the event of a dispute in any way related to the contract or the relationship between Moro and the customer, jurisdiction shall lie with either:

  1. The Permanent Court of Arbitration at the Slovene Chamber of Commerce. The dispute shall be decided by an individual arbiter in accordance with the rules of arbitration proceedings before the Permanent Court of Arbitration at the Slovene Chamber of Commerce of Commerce; the proceedings will be conducted in the Slovenian language.
    The decision of the arbitration shall be final and enforceable without delay. No appeal is admissible.
  2. The court with substantive jurisdiction in Ljubljana, Nova Gorica or Novo mesto.

The party filing the lawsuit can choose between above options 1. and 2.: whether to file the lawsuit with the Court of Arbitration or with one of the courts indicated.