SOOS GmbH, Handelskai 94 / 4 / 5th Floor, 1200 Vienna, Austria / FN 371831k Commercial Court of Vienna / Tel. +43 1 33 050 33
General Terms and Conditions (GTC) of SOOS GmbH for the Storage of Precious Metals

Version: 04/01/2026

SOOS GmbH is part of the internationally active GVS Group, a leading provider of international precious metal storage. The services of SOOS GmbH are offered worldwide, mostly via branches of the GVS Group. A list of all international locations can be viewed on the GVS websites.

Your benefits at a glance:

Our storage solutions for precious metals are among the particularly customer friendly offerings on the market. For this reason, you will find in these General Terms and Conditions numerous provisions that are deliberately designed in your favor and can only be found in this form within the GVS Group. The most important advantages for you are additionally highlighted in color in the GTC. This means you can immediately see where you receive more protection, more transparency and more flexibility than is customary in the industry.

1 Conclusion and term of contract

(1) All contracts and other legal transactions between SOOS GmbH and the customer come into existence exclusively through express or implied acceptance by SOOS GmbH. Unless otherwise agreed, the storage contract is concluded for an indefinite period. The contract can be concluded either in person at a GVS branch or by distance selling.

(2) The identity of the customer and, where applicable, of authorized persons is verified in accordance with statutory requirements.

(3) In order to strengthen the sole position of the customer as contractual partner and beneficiary and to ensure a clear, transparent allocation of all rights, claims under this storage contract may only be assigned with the prior consent of SOOS GmbH. The stored precious metal and all claims arising therefrom thus remain clearly and exclusively allocated to the respective beneficiary.

(4) SOOS GmbH provides its services to both consumers and entrepreneurs. Mandatory provisions of the Consumer Protection Act (KSchG) apply to consumers; mandatory consumer rights are not restricted by these GTC.

2 Contact and contract data

(1) Communications, notifications and legally relevant declarations within the scope of the business relationship are sent to the last email address or postal address provided by the customer. The customer must ensure regular access to his emails. Written communications are deemed received as soon as they have entered the customer’s sphere of control and knowledge can ordinarily be expected; email communications are deemed received at the latest on the second working day following dispatch, unless there are indications of delivery problems.

(2) If the customer uses the password protected customer account provided in the GVS Group’s webshop, messages transmitted to SOOS GmbH via this customer account are deemed to be written declarations of intent issued by the customer and sufficiently authenticated.

3 Written form and contract amendments

All amendments or supplements to the storage contract, in particular those affecting the storage inventory, powers of attorney, fees, customer data or other contractual agreements, must be made in writing; transmission by email or via the customer account in the webshop as well as other permanent electronic formats satisfies the written form requirement, unless mandatory law provides otherwise.

Each confirmed amendment is documented and transparently updated in the storage contract. Oral or implied amendments are excluded.

4 Duty to cooperate

Within the scope of international business relations, SOOS GmbH is subject to the respective national laws, official requirements and internal guidelines. The customer is obliged, upon request, to provide all documents and declarations required for compliance with these provisions in full and in good time.

SOOS GmbH is entitled to suspend or refuse performance until the requested documents have been received in full and successfully verified.

5 Deposit

(1) Only standardized, customary investment products (such as bars and coins) that comply with the organizational and technical requirements of the SOOS GmbH storage system are accepted for storage. The customer may present precious metals and customary investment products for storage regardless of the dealer or provider from whom they were acquired.

(2) If precious metals are purchased via the GVS Group, they can be stored directly in its custody inventory, provided they were purchased for the same location in which the storage also takes place. If the customer purchases precious metals at a location other than that of the agreed storage facility, the customer is responsible for organizing and carrying out the transport of the acquired precious metals to the storage facility. In such cases, at the customer’s request, SOOS GmbH can arrange the organization of insured transport via a specialized company.

6 Custody

(1) SOOS GmbH acts solely as a storage and administration company and ensures the secure custody of the holdings in the GVS high security storage system. The stored precious metal is recorded in SOOS GmbH’s inventory and warehouse management system directly in the customer’s name or under a customer ID that is clearly assigned to the customer. The stored precious metals thus remain the sole civil law property of the customer and are treated economically as segregated assets. They therefore never form part of SOOS GmbH’s business assets and are legally separated from its creditors. In this way, the customer’s ownership in pooled storage remains clearly allocated in legal terms and protected from access by third parties.

(2) The GVS high security storage system is designed for the joint and secure storage of large quantities of coins and bars. Homogeneous inventories are stored together in order to optimize the use of space. At the same time, each precious metal item is clearly assigned to the respective customer’s storage account in the SOOS GmbH inventory and warehouse management system at the time of storage. Item accurate storage enables detailed recording and allocation of each individual stored item at any time. This ensures that all stored items are held with high efficiency and are regularly audited. The customer remains clearly the owner of the items shown in the storage records, and his rights are fully protected. On withdrawal, the customer receives precious metals of the same type, size, quantity and from the same manufacturer as recorded in his storage inventory. Specific years of mintage and special editions are generally not taken into account for reasons of efficiency. For large volumes in corresponding denominations, SOOS GmbH may, by agreement with the customer, additionally record the serial numbers as well as the manufacturer and denomination and report them separately for the customer.

(3) Individual, physically separated storage is available on the basis of a separate agreement, is clearly labelled, and is stored and administered separately. Such individual storage is significantly more complex and therefore usually only economically relevant for items with numismatic value or particular individual value.

(4) There is no liability for value neutral, superficial changes (e.g. milk spots on silver) occurring during the custody period.

7 Powers of attorney

(1) The customer is entitled to grant third parties power of attorney to dispose of the items held under this storage contract. Unless explicitly agreed otherwise, the power of attorney includes, in particular, the right to effect storage, withdrawal and sale of the stored items. Such a power of attorney does not entitle the holder to terminate, amend or supplement this contract, nor to grant sub powers of attorney.

(2) SOOS GmbH is entitled to refuse recognition of an authorized representative if, on an objective basis, there are reasonable doubts regarding his identity, legal capacity or authority to represent.

(3) A granted power of attorney may be revoked by the customer at any time in writing. The revocation becomes effective upon receipt of the written notification by SOOS GmbH in accordance with point 2 of these GTC. Until that time, SOOS GmbH may rely on the validity of the power of attorney known to it. SOOS GmbH processes revocations without delay in the ordinary course of business and confirms deactivation of the power of attorney to the customer in writing upon request.

(4) SOOS GmbH is entitled to rely on the validity of an existing power of attorney as long as it is not aware of any revocation, restriction or the death of the principal.

(5) The customer may grant a special power of attorney that continues to be effective after his death. In this case, SOOS GmbH is not obliged to verify the continued validity of the power of attorney due to the death of the principal.

8 Delivery and withdrawal

(1) In order to ensure proper handling and completion of all required checks, any delivery, withdrawal or change of storage location of stored items requires prior appointment with SOOS GmbH. Customary quantities can be withdrawn during regular opening hours at all locations. For larger or special quantities, separate arrangements are required for security reasons.

(2) Withdrawal and delivery take place after successful verification of authorization and presentation of the required documents. In the event of outstanding claims, missing identification or security concerns, SOOS GmbH is entitled to refuse delivery.

9 Change of location and transport

(1) A change of the storage location or transfer of the stored items is possible at the customer’s request.

The organization of transport is the responsibility of the customer. All costs and risks arising in this context from the time of handover to the transport service provider are therefore borne by the customer. SOOS GmbH assumes no liability for damage occurring after handover of the precious metals to the transport service provider.

(2) It is strongly recommended that the customer commission specialized cash in transit companies for transport and take out appropriate valuables insurance. At the customer’s request, SOOS GmbH can arrange the organization of insured transport with a specialized valuables logistics company. All costs for transport, insurance and other expenses associated with withdrawal and transport are borne by the customer.

(3) In the event of force majeure that significantly impairs normal business operations, access to storage facilities or the execution of deliveries, SOOS GmbH is entitled temporarily to suspend or postpone deliveries, withdrawals or changes of location. Force majeure may include natural events, political unrest, official orders or other exceptional circumstances. In such cases, SOOS GmbH will inform the customer immediately of the situation and further procedure. Any delays or restrictions do not give rise to claims for damages.

10 Termination and withdrawal

(1) Unless otherwise agreed, the storage contract is concluded for an indefinite period. The customer may terminate the storage contract at any time without stating reasons by giving written notice. Termination becomes effective at the end of the calendar month, provided that all stored items have been completely collected, sold or stored in another vault before the contract ends.

(2) SOOS GmbH may terminate the contract by giving three months’ notice to the end of a month. Services already rendered and storage fees are calculated pro rata up to the end of the current calendar month. Each calendar month commenced counts as a full month and is charged as such.

(3) Upon termination of the contract, the obligation to pay storage fees continues until the customer has fully collected, sold or transferred the stored items. Delivery of the items takes place in accordance with point 8 Delivery, withdrawal.

11 Inventory audit and access rules

(1) SOOS GmbH commissions an independent tax advisor / auditor at least twice a year o check the physically stored items at each storage location. These regular inventory audits by independent auditors underscore the high level of transparency and security at SOOS GmbH and within the GVS Group. The auditor explicitly confirms the complete match between all jointly stored and counted inventory and the inventory recorded in all item accurate storage contracts at the location. The result of each inventory audit can be accessed online.

(2) At the customer’s request, the auditor will issue an individual confirmation of the respective storage inventory against reimbursement of costs.

(3) Access to the storage areas is reserved exclusively for authorized employees and vicarious agents of SOOS GmbH. These access rules are a key security feature and serve to provide the best possible protection for all customer holdings. Through strict access restrictions, SOOS GmbH guarantees the highest level of discretion, security and transparency in storage.

12 Fees and remuneration

(1) The storage fee is payable annually in advance and includes insurance costs. The storage fee becomes due upon the first storage and is calculated in advance for 12 months in each case. The calculation method for storage fees is set out for each storage location offered in the applicable information sheet. The information sheets containing the applicable fee structure can be viewed at any time on the GVS websites or requested at the business premises.

(2) The following parameters are decisive for the amount of the fees: type of storage, location of the vault, type of precious metal and value of the stored items. For individual storage, the fee is determined on an individual basis.

(3) SOOS GmbH informs its customers in good time of upcoming due dates for storage fees and strives, in the event of payment delays, to find a practicable solution together with the customer on a case by case basis.

If the due storage fee is not paid despite appropriate information, SOOS GmbH is entitled to charge default interest up to the legally permissible level. To secure all claims arising from the storage contract, SOOS GmbH is entitled to withhold delivery of individual or all stored items until all outstanding storage fees and costs have been paid in full.

Before exercising these rights, SOOS GmbH will take due account of the circumstances of the individual case and, where possible, contact the customer again to explore an amicable solution (e.g. amended payment terms).

13 Adjustment of fees and General Terms and Conditions

(1) Fee adjustments may occur if market conditions, insurance costs or legal requirements change significantly. Fee changes are rare and are only made to a reasonable extent. Changes are notified to the customer at least three months before they take effect on a durable medium (in particular by email) and apply from the next billing period. In the event of an increase in storage volume, value or number of stored items, storage fees are adjusted accordingly, taking into account the current price structure.

(2) Amendments to the GTC and the fee structure apply only for the future and are communicated to the customer on a durable medium (in particular by email or post). The customer is entitled to terminate the storage contract in writing up to the date on which the amendments take effect. In this case, storage fees are charged in accordance with the previous conditions until termination becomes effective. If the customer, acting as a consumer, objects to the amendments in good time, the contract continues under the previous conditions; in this case SOOS GmbH is entitled to terminate the storage contract subject to the contractual notice period.

14 Insurance

(1) SOOS GmbH maintains an all risk insurance policy for the storage of precious metals to cover physical damage and physical loss of the stored items at the respective current bullion value. The price quoted in the most recently published LBMA fixing serves as the reference. The insurance generally covers all insurable risks (all risk cover).

(2) Excluded in particular are losses resulting from war and war like events, governmental interventions as well as losses caused by nuclear, radioactive, chemical, biological or comparable hazards. Losses resulting from certain cyber events, sanctions and terrorism risks are also excluded. Price, market, interest rate or tax risks as well as other indirect or consequential losses (including loss of profit) are not covered by the insurance.

15 Liability

SOOS GmbH is liable without limitation for intent, grossly negligent breaches of duty and for claims arising from mandatory statutory liability provisions. In cases of simple negligence, SOOS GmbH is liable only for losses arising from the breach of essential contractual obligations that make proper performance of the contract possible. This liability is limited to the typically foreseeable contractual loss. Liability for consequential losses or loss of profit is excluded.

16 Exclusion of liability in the event of force majeure

There is no liability for impossibility or delay in performance in cases of force majeure, governmental intervention, strikes, cyberattacks and other comparable events, provided these are not caused by SOOS GmbH intentionally or through gross negligence.

The liability limitations in this contract do not apply to losses arising from injury to life, limb or health, nor to losses caused by intent or gross negligence on the part of SOOS GmbH or its legal representatives.

Where liability on the part of SOOS GmbH is limited or excluded as above, this also applies to the liability of its employees, subcontractors and other vicarious agents.

Apart from this, the liability provisions in point 15 remain unaffected.

17 Data protection

(1) SOOS GmbH processes the customer’s personal data in accordance with the GDPR and Austrian data protection law for the purpose of establishing, performing and terminating the storage contract and for fulfilling legal obligations.

(2) For order processing and performance of the contract, SOOS GmbH may transfer personal data to other companies of the GVS Group and to external service providers, insofar as this is necessary and these are obliged to maintain confidentiality and comply with data protection regulations.

(3) Within the scope of the statutory provisions, the customer has the right of access, rectification, erasure, restriction of processing, data portability, objection to certain processing operations and the right to lodge a complaint with a data protection supervisory authority.

(4) Furthermore, the data protection information of the GVS Group / Goldvorsorge, available under the privacy policy published on the GVS websites, applies to data processing in connection with this storage contract.

18 Place of jurisdiction and applicable law and language

(1) This contractual relationship is governed exclusively by Austrian substantive law, excluding conflict of law rules and the UN Convention on Contracts for the International Sale of Goods. The place of jurisdiction for all legal matters arising from the contractual relationship is Vienna Leopoldstadt, unless mandatory statutory consumer protection provisions provide otherwise.

(2) These General Terms and Conditions are drawn up in the German language. The English version is provided as a convenience translation only. In the event of any inconsistency, ambiguity or doubt arising from this translation, the German version shall prevail and be exclusively binding.