Himalayan Bullion Company Limited — Policy Centre

Complete Terms of Service and Customer Policies — Version 2.0, effective from 9 September 2026 Effective from 9 September 2026.

Contents#

1. Terms of Service
2. Purchase Policy
3. Accumulate Plan Terms
4. Fixed Price Plan Terms
5. Early Settlement Policy
6. Custody Agreement
7. Collection and Handover Policy
8. Sell to HBC Policy (Buy-Back)
9. HBC Credits Terms
10. Cancellations, Refunds and Remedies Policy
11. Payments Policy
12. KYC and AML Notice
13. Privacy Notice
14. Gifting Policy
15. Fees and Charges Schedule
16. Complaints and Disputes Policy
17. App and Website Terms
18. Promotions Terms
19. Company Information
20. Version History

Terms of Service

Himalayan Bullion Company Limited Version 2.0 — Effective from 9 September 2026. Replaces Terms of Sale v1 (23 September 2026) for transactions made after the effective date.

1. Who we are and what these terms cover#

1.1Himalayan Bullion Company Limited ("HBC", "we", "us") is a public limited company incorporated in Nepal in 2000. We refine silver and we sell physical silver and gold products to the public. We are a dealer in precious metals registered under Nepal's anti-money-laundering framework for that sector. Our company and tax registrations are in the Company Information notice.

1.2These Terms govern every purchase from HBC and every use of the HBC app (iOS, Android and web), the member site at member.himalayanbullion.com, and our store. The product-specific terms listed in section 2 form part of these Terms. Where a product-specific term and these Terms conflict, the product-specific term governs that product.

1.3What HBC is not. HBC is not a bank, a deposit-taker, a payment service provider, a commodity exchange, a broker, a clearing house or a collective investment scheme. HBC does not sell derivative contracts, units in a pool, or exposure to the silver price without delivery. HBC does not give investment advice. Every transaction with HBC is the sale or purchase of physical silver or gold at a price HBC sets as a dealer.

1.4By creating an account, making a guest purchase or paying HBC, you accept these Terms. You accept each product-specific term at the moment you first use that product; the app records which version you accepted, with its digest and the time.

2. The HBC policy set#

2A. Definitions#

3. Who may use HBC#

3.1You must be at least 18 years old and able to enter a binding contract under Nepalese law. You must have a Permanent Account Number (PAN) issued by Nepal's Inland Revenue Department before your first purchase.

3.2A business may buy through an authorised representative who completes KYC on the business's behalf. Verified jewellery businesses have access to additional products and exemptions set out in the Purchase Policy.

3.3HBC may decline to open an account or to transact, or may pause an account, where identity cannot be verified, where the law requires it, or where HBC reasonably suspects fraud or misuse. HBC gives its reason in writing where the law permits.

4. Your account#

4.1You may browse rates and read these Terms without an account. Buying a product outright is open to guests; plans, custody, gifting and selling to HBC require a member account.

4.2A guest purchase still requires your full name, government photo ID, PAN, mobile number and email before payment, as the KYC and AML Notice requires. A guest purchase creates a customer record; all information given is stored under the Privacy Notice. A guest may activate a member account by email after purchase.

4.3You are responsible for keeping your sign-in details, device keys and passkeys secure. Tell us at once if you believe your account has been compromised. HBC is not liable for transactions made with your credentials before you tell us.

4.4You may deactivate or delete your account under the Privacy Notice. An account holding a product in custody, an open plan or an unused credit cannot be deleted until those are collected, settled or paid out.

5. Prices#

5.1HBC publishes a selling rate and a buying rate for silver each business day, per 10 grams and per tola, in the app and in store. HBC sets its rates as a dealer, following the daily rate published by Nepal's gold and silver dealers' associations, and may update them during rate hours.

5.2Products are priced on their nominal fine-metal weight at the published rate, plus the making charge and fees for that product, plus any levy imposed by law. All are shown before you pay.

5.3A price shown on screen is indicative until you confirm payment. The rate that applies to your purchase is the rate in force when your payment intent is created; it is held for 40 minutes. If payment is not confirmed in that time, the intent lapses and a new price applies.

5.4HBC does not quote or transact outside rate hours. A rate displayed outside rate hours is information, not an offer.

5.5If a price shown is plainly wrong because of a system error, HBC may cancel the affected order within seven days of the purchase and before the product is handed over or placed in custody, and return every amount paid, with no interest. HBC will tell you within two working days of discovering the error.

6. Paying HBC#

6.1Accepted channels are set out in the Payments Policy: NPS online payment in the app; bank transfer; cheque; cash in store within the limits set by Nepal's anti-money-laundering rules; and HBC Credits. All payments must come from an account in your own name or, for a business, in the business's name.

6.2HBC does not accept money on account. Every payment is applied to a purchase, a plan or a charge. A payment that cannot be matched is returned to the paying account.

6.3Silver is never released on credit. A product is handed over or placed in custody only when it is fully paid.

7. Documents#

7.1HBC issues a purchase receipt for every payment, showing the amount, the rate, the grams bought, the product and the time. For a plan payment the receipt states that ownership of the grams described has passed to you.

7.2HBC issues a PAN bill for each finished product when the product is made and recorded to you. The PAN bill is HBC's sales record under the Income Tax Act. It documents the product; it is not the instrument by which ownership passes.

7.3HBC's sales of silver are not subject to VAT. The Skill Development Fee, a levy imposed by the Finance Act on retail sales of gold and silver (currently 0.5% of the sale value), is collected by HBC on behalf of the Government and itemised separately on every receipt. In these policies it is called "the levy".

7.4Serialised bars carry a Certificate of Authenticity and a public verification page that confirms the bar is genuine. The page shows no personal data and does not prove who owns the bar.

7.5Documents HBC has issued are permanent records. A correction is a new document linked to the original.

8. Ownership#

8.1Outright purchase. Ownership of the product passes to you when your full payment is confirmed. Where the product is a serialised bar, the specific bar is identified to you on allocation; until then you own a product of the kind and weight bought, held in HBC's segregated customer stock.

8.2Plans. Ownership of silver bought under an Accumulate or Fixed Price plan passes on each payment, gram by gram, as set out in the plan terms. The silver is held by weight in HBC's segregated customer stock until the finished product is made.

8.3Segregated customer stock is physical silver HBC holds for customers, kept apart from HBC's own stock, reconciled daily against the allocation register and purchase receipts, and verified by HBC's annual statutory audit, which includes a physical count. Each customer owns the weight recorded to them. HBC does not use, pledge, lend, sell, invest or trade customer stock, and issues no unit, share or certificate representing an interest in it. In any insolvency of HBC it is held for customers and does not form part of HBC's assets.

8.4Legal basis. A sale of goods passes ownership when the parties intend it to pass (National Civil Code 2074, sale-of-goods provisions). These Terms record that intention. The purchase receipt and HBC's allocation register are the evidence of it, and are valid electronic records under the Electronic Transactions Act 2063.

9. Collection, custody and the eight-week period#

9.1A fully paid product may be collected on a published collection day at HBC's office, or placed in HBC custody under the Custody Agreement.

9.2You have eight weeks to collect your product free of charge. For an outright purchase, an Accumulate completion or an early settlement, the eight weeks run from the date HBC tells you the product is ready; for a Fixed Price plan, from the booking date. After eight weeks, the overdue collection charge in the Fees and Charges Schedule applies until the product is collected or placed in custody. Delay never forfeits your product or gives HBC any right to sell it. Accrued charges are capped as set out in the Schedule.

9.3HBC does not deliver. A third party may collect with your signed letter of authorisation and a copy of your identification.

10. If HBC cannot supply your product#

10.1Bullion bars and coins are made by HBC. If a bar or coin you have bought is not in stock, HBC makes it and has it ready for collection no later than eight weeks after your full payment. The free collection period runs from the date it is ready. If HBC is late, no overdue charge accrues for HBC's delay.

10.2Special products (AZAYA pieces, custom orders, one-of-a-kind items) may go out of stock. If a special product you have paid for cannot be supplied, HBC offers you a comparable or better product at no extra cost. If you do not accept, HBC refunds every amount paid, including any levy, to your paying account within ten working days. The choice is yours; HBC will not substitute without your consent.

10.3HBC does not refund a bullion purchase in money for a change of mind, because the silver is yours from payment. A customer who no longer wants the product may sell it to HBC under the Sell to HBC Policy. If a bullion Target is withdrawn from the catalogue while your plan is open, HBC completes your plan into the withdrawn product or, at your choice, into the nearest equivalent product at no extra making charge.

11. Cancellation and your statutory rights#

11.1A confirmed purchase is a binding contract. It cannot be cancelled through the app. The Cancellations, Refunds and Remedies Policy sets out every case in which HBC returns money or replaces a product.

11.2Nothing in these Terms limits your rights under the Consumer Protection Act 2075, the Electronic Commerce Act 2081 or any other law of Nepal. Where the law gives you a right to return a product within a set period, or to a refund for a product that is defective, not as described or not delivered, HBC honours that right on the terms and within the exceptions the law provides.

12. Identity and the law#

12.1HBC verifies identity before your first purchase and may re-verify at any time. HBC files the reports Nepalese law requires without notice to you. HBC may pause or decline a transaction while a check is completed. The KYC and AML Notice explains what we collect and why.

13. Liability#

13.1HBC is liable for the products it sells, for the silver it holds for customers, and for its own breaches of these Terms and of the law. Nothing here excludes liability HBC cannot exclude by law.

13.2HBC is not liable for loss caused by movements in the silver price, by your failure to collect, by your sharing of credentials, or by events outside its reasonable control (including bank, payment-network or telecom failure), except where the law provides otherwise.

13.3HBC's liability for a product in custody is set out in the Custody Agreement.

14. Complaints#

14.1Complaints go to HBC's complaints desk in writing or through the app. HBC registers and acknowledges a complaint on receipt and decides it within fifteen days, as the Electronic Commerce Act requires. The Complaints and Disputes Policy sets out the process and the external bodies you may approach.

15. Changes to these terms#

15.1HBC may publish a new version. A material change is notified in the app thirty days before it takes effect and you are asked to accept it the next time you transact. A purchase, plan, custody or buy-back is governed by the version in force when you accepted it; a later version applies to it only if you accept the later version. If you do not accept a new version, your existing plans, products and Credits continue under the version you accepted, but you may not open a new transaction until you do.

15.2Every version is listed in the Version History with its effective dates and digest.

16. Law and language#

16.1These Terms are governed by the laws of Nepal. Disputes are subject to the jurisdiction of the courts of Kathmandu, without prejudice to your right to approach the consumer authorities named in the Complaints and Disputes Policy.

16.2These Terms are published in English. A Nepali translation, where published, is for convenience; the English text governs unless the law requires otherwise.

16A. General provisions#

16A.1Death or incapacity. On the death or legal incapacity of a customer, HBC deals with their silver, products, plans and Credits with the person entitled under Nepalese law, on production of the death certificate or court order and the documents HBC reasonably requires. Open plans are settled into products; Credits are refunded to the estate. No charge accrues from the date HBC is notified.

16A.2If HBC stops a service. If HBC ceases to offer plans, custody or buy-back, it gives at least ninety days' notice. Existing plans may be completed or settled, products in custody may be collected without charge during the notice period, and Credits may be refunded in full. Customer silver remains the customer's throughout.

16A.3Notices. HBC gives notices in the app and by email to your registered address. You give notices to the contacts in section 17. A notice is received on the next working day.

16A.4Severability. If any term is unenforceable, the rest continue to apply.

16A.5Entire agreement. These Terms and the policies in section 2 are the whole agreement between you and HBC. Marketing, app copy and assistant answers do not vary them.

16A.6Assignment. You may not assign your rights. HBC may transfer its obligations to a successor that assumes them in full, on notice; your ownership of silver is unaffected.

16A.7Electronic acceptance. Acceptance in the app, a signed counter declaration, or payment after being shown these Terms is a valid acceptance under the Electronic Transactions Act 2063. HBC records the version, digest and time.

17. Contact#

Himalayan Bullion Company Limited Wada No. 1, Gyaneshwor, Kathmandu Metropolitan City, Nepal Email: info@himalayanbullion.com · Telephone: +977 9700020999

Full company and regulatory details are in the Company Information notice.

Purchase Policy

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service.

This policy governs buying a product from HBC outright, in the app, on the web or in store. Plans are governed by their own terms.

1. What HBC sells#

1.1HBC Bullion. Silver coins of 10 g, 20 g, 50 g and 100 g, and serialised silver bars of 500 g and above, refined and made by HBC. Gold products where listed.

1.2AZAYA. Finished jewellery and one-of-a-kind pieces, listed individually.

1.3Granules. Silver granules by weight, sold only to verified jewellery businesses.

1.4Custom orders. Pieces made to a customer's specification, arranged in store under a separate order form.

1.5Each product listing states its nominal fine-metal weight, purity, making charge and fees. Bullion is priced on nominal weight at HBC's published rate. Fineness (999 or 9999) is a product description; the price is calculated on the stated fine-metal weight.

2. Making charges and fees#

2.1Making charges are fixed per product, as a published percentage of the metal value, in the catalogue and the Fees and Charges Schedule. Bars of 500 g and above carry no making charge. Coins carry the published making charge for their size. Staff cannot vary a making charge.

2.2Any fee (gift box, finishing, per-order charge) is shown as a separate line before you pay. Optional extras are added only at your request.

2.3A levy imposed by law on retail sales of precious metals is itemised separately at the statutory rate. Verified jewellery businesses that are exempt by law are not charged it.

3. How a purchase happens#

3.1You select a product. The app or counter shows the full price: metal, making charge, fees, levy and total. The rate is held for 40 minutes from the moment you begin payment.

3.2Your purchase is confirmed when HBC's system records your payment as received. You receive a purchase receipt and an order confirmation.

3.3Ownership of the product passes to you on confirmation. A serialised bar is identified to you on allocation; until then you own a bar of that weight held in HBC's segregated customer stock.

3.4HBC issues the PAN bill when the product is made and recorded to you.

4. Readiness and collection#

4.1Bullion is made to order where not in stock and is ready for collection no later than eight weeks after your full payment. HBC tells you when the product is ready. The eight-week free collection period runs from that notice. Collection and custody are governed by the Collection and Handover Policy and the Custody Agreement.

4.2If HBC is late, no overdue charge accrues for HBC's delay, and you may require HBC to settle your purchase into an available product of the same weight at no extra charge.

4.3Weight and purity. HBC bullion is sold by nominal fine-metal weight at the stated purity. A product is within specification if its fine-metal content is not less than the stated weight. HBC's assay is by its refinery; in a dispute either party may require an independent assay by a laboratory agreed between them, at the cost of the party found wrong.

5. Out of stock#

5.1Bullion is always made by HBC; it is not refunded for unavailability.

5.2Special products (AZAYA, custom, one-of-a-kind). If HBC cannot supply a special product you have paid for, HBC will:

(a) offer a comparable or better product at no extra cost; or (b) if you decline, refund every amount paid, including fees and levy, to the account you paid from, within ten working days.

The choice is yours. HBC does not substitute without your written consent.

6. Mistakes#

6.1If HBC supplies the wrong product, weight or purity, HBC replaces it with the correct product or, at your election, refunds the price paid. Tell HBC within seven days of collection; bring the product and the receipt.

6.2If a price was displayed wrongly because of a plain system error, HBC may cancel within seven days of the purchase and before handover or custody, and return every amount paid. HBC tells you within two working days of discovering the error.

7. Defects#

7.1HBC bullion is guaranteed to be of the weight and purity stated. A product that is defective or not as described is replaced or refunded at the price paid, as the law requires. Inspect your product at handover; the Collection and Handover Policy explains how.

8. Cancellation#

8.1A confirmed purchase is binding on both parties. It is not cancelled by a change of mind. If you no longer want the product, HBC's return route is to buy it back from you under the Sell to HBC Policy once it is made, collected or in custody.

8.2Your statutory rights under the Consumer Protection Act 2075 and the Electronic Commerce Act 2081 are not affected. See the Cancellations, Refunds and Remedies Policy.

9. Business purchases#

9.1A verified jewellery business may buy granules, may be exempt from the statutory levy, and may book a Fixed Price plan with a lower advance. Verification is completed in store with company registration, PAN and authorised-representative documents.

9.2HBC does not buy back silver from verified jewellery businesses.

10. Staff discounts and promotions#

10.1Any discount is shown on the receipt. Promotions are governed by the Promotions Terms.

Accumulate Plan Terms

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service.

1. What an Accumulate plan is#

1.1An Accumulate plan is a way to buy a large product in parts. You choose a product (your Target) and buy silver toward it in a series of separate purchases, each at HBC's selling price on the day you pay. When your silver equals the Target's weight, HBC makes the Target for you.

1.2Each payment is a complete and separate purchase of silver. It is not a deposit, a saving, an investment contract or a reservation of price.

1.3The purpose of the plan is to let a customer reach a product that carries no making charge, such as a 500 g bar, without paying for it at once.

2. Opening a plan#

2.1Accumulate is available to members who have completed KYC. You may hold up to three plans at once.

2.2You choose your Target from the eligible catalogue. Once chosen, the Target is locked. It cannot be changed; the plan can only be completed or settled early under the Early Settlement Policy. If HBC withdraws the Target from its catalogue while your plan is open, HBC completes your plan into that product or, at your choice, into the nearest equivalent product at no extra making charge.

2.3The minimum payment is NPR 100. A payment may be for any amount up to the value of the grams remaining; any excess over the grams remaining is returned to the paying account. Payments may be made during rate hours through the channels in the Payments Policy. Money not applied to silver is not accepted or held.

3. Each payment buys silver#

3.1Each payment buys the number of grams your money covers at HBC's selling price at the moment HBC confirms the payment. The selling price moves daily, so the grams bought per payment vary. HBC does not guarantee any price, average price or future value.

3.2Each payment is a contract of sale of goods under the National Civil Code 2074. Ownership of the grams bought passes to you on payment. HBC appropriates those grams to you by entering them in its allocation register at the time of payment.

3.3On each payment HBC issues a purchase receipt stating: your name and plan; the Target; the date and time; the selling price; the grams bought and their purity; the amount paid; any charge or levy; the receipt number; and the words "ownership of the silver described has passed to the customer". The purchase receipt and the register entry are your evidence of title.

3.4The selling rate shown when you begin a payment is held for 40 minutes. A payment confirmed within that time buys silver at that rate. A payment that arrives later is applied at the rate in force when HBC receives it, and the receipt shows that rate. Grams are recorded to three decimal places.

4. Where your silver is#

4.1Your silver is held by weight in HBC's segregated customer stock, kept apart from HBC's own stock, reconciled daily against the allocation register and purchase receipts, and verified by HBC's annual statutory audit, including a physical count. You own the weight recorded to you in that stock.

4.2HBC may not use, pledge, lend or sell your silver. In any insolvency of HBC, segregated customer stock is held for customers and does not form part of HBC's assets.

4.3The app shows the grams you own. It may also show what those grams would fetch at HBC's current buying rate; that figure is information about silver you own, not a balance HBC owes you, and HBC does not pay it except by buying a finished product under the Sell to HBC Policy.

5. Completion#

5.1When your silver equals the Target's weight, HBC makes the Target, records its serial number (bars) or product and weight (coins) against you, and issues the PAN bill. There is no making charge on bars of 500 g and above; coin making charges are published per product.

5.2HBC tells you when the product is ready. You may then collect it or place it in custody under the Custody Agreement. The eight-week free collection period runs from that notice.

6. Settling early#

6.1You may at any time settle your plan, or part of it, into any catalogue product your silver already covers. The Early Settlement Policy sets out how. Your silver is delivered only as finished products; HBC does not hand over unfinished metal.

6.2No gram you own is ever forfeited, rounded away or converted to cash.

7. What a plan is not#

7.1A plan is personal to you. It cannot be sold, assigned or transferred. Silver under a plan is not traded on the app, and HBC does not match buyers and sellers.

7.2HBC does not buy back silver that has not been made into a product. If you want cash, settle into a product first, then sell the product to HBC under the Sell to HBC Policy.

7.3Nothing about a plan is a guaranteed return. The price of silver can fall as well as rise.

8. Fees#

8.1There are no plan fees. Any levy imposed by law on retail precious-metal sales is charged on each payment at the statutory rate and shown on the receipt.

9. Statutory rights#

9.1Each purchase under a plan carries the rights the law gives a buyer of goods. See the Cancellations, Refunds and Remedies Policy.

Fixed Price Plan Terms

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service.

1. What a Fixed Price plan is#

1.1A Fixed Price plan is an advance-booking sale of a specific catalogue product at HBC's selling price on the booking date. You pay an advance now and the balance in one or more later payments. The price does not change.

1.2It is a sale of specific goods with payment by instalments, the ordinary way a jeweller or bullion dealer books a product for a customer. It is not a futures contract, an option, a deposit or a bet on the silver price. HBC bears the price risk of the booking as any seller who agrees a price does.

2. Opening a plan#

2.1Fixed Price is available to members who have completed KYC, for any catalogue bullion product and listed AZAYA product that is available.

2.2The advance is at least 50% and at most 90% of the full price (metal, making charge, fees and levy). A verified jewellery business may book with a lower advance as published. Each payment, including the advance, is split between metal and the other components of the price in the same proportion as the full price, and the receipt shows the split.

2.3On booking, HBC sets the booked product, or the silver to make it, aside for you. The booked product is locked and cannot be changed.

3. Payments#

3.1The balance may be paid in any number of payments of at least NPR 100, at the fixed price, at any time. There is no payment deadline.

3.2The metal portion of each payment buys silver at the fixed price in the same way as under an Accumulate plan: ownership of the grams paid for passes on payment, the grams are entered in HBC's allocation register, and a purchase receipt is issued stating the grams, the fixed price and that ownership has passed.

3.3The fixed price applies to the booked product and to the silver you have paid for toward it. It does not apply to any other product, to additional silver bought to complete a settlement, or to any later purchase.

4. Completion#

4.1When the full price has been paid, HBC makes the product, records it to you and issues the PAN bill. HBC tells you when it is ready.

5. Collection period and overdue charge#

5.1Collection within eight weeks of the booking date is free.

5.2From the ninth week, the overdue collection charge in the Fees and Charges Schedule (0.008% per day) accrues on the metal value of the silver you have paid for, until the plan is completed and the product collected or placed in custody, or the plan is settled early. You may stop the charge at any time by paying the balance or by settling early under the Early Settlement Policy. The charge is settled before release. It is never deducted from your silver, and it is capped as set out in the Schedule.

5.3Delay never forfeits your plan or your silver and gives HBC no right to sell the booked product.

6. Cancelling or not completing#

6.1You do not lose your money if you stop paying or ask to cancel. The amount you have paid has bought silver at the fixed price. That silver is delivered to you under the Early Settlement Policy as one or more finished products. The plan then closes.

6.2If you want cash, you may sell those products to HBC under the Sell to HBC Policy in a separate transaction, at HBC's buying price on that day. No part of your advance is forfeited.

6.3A Fixed Price plan cannot be cash-settled. HBC does not pay the difference between the fixed price and a later market price. A product arising from a Fixed Price plan, whether on completion or on early settlement, may be sold to HBC only after it has been made, recorded to you, and physically collected by you; the Sell to HBC Policy's three-day rule after collection then applies. A product from a Fixed Price plan may not be offered for sale from custody.

7. If the booked product becomes unavailable#

7.1Bullion is made by HBC and is not unavailable. If a booked AZAYA or special product cannot be supplied, HBC offers a comparable or better product at the fixed price, or refunds every amount paid to your paying account within ten working days. The choice is yours.

8. What a plan is not#

8.1A plan is personal to you and cannot be transferred. Nothing about a plan is a guaranteed return; the market price may be above or below your fixed price when you collect, and that is the ordinary consequence of agreeing a price in advance.

Early Settlement Policy

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service. Applies to Accumulate and Fixed Price plans.

1. What early settlement is#

1.1A customer who does not wish to complete a plan may at any time ask HBC to settle it early. Early settlement delivers the customer's silver as one or more finished products of the same metal from HBC's catalogue. It is the only way a plan ends before completion, other than a statutory remedy under the Cancellations, Refunds and Remedies Policy.

1.2Early settlement is a product-settlement arrangement between HBC and the customer. It is not a refund, a cash settlement, a buy-back or a trade. A later sale of the settled product to HBC is a separate transaction under the Sell to HBC Policy.

2. Making a request#

2.1A request is made in the app or in store. HBC prepares a written quote showing:

• the grams the customer owns and the purchase receipts supporting them;
• the products offered and their total fine-metal weight;
• any additional grams needed and their cost at the day's selling price (or, for the paid portion of a Fixed Price plan, at the fixed price);
• making charges for the products, less any making charge already paid under the plan;
• any levy;
• custody or collection terms;
• the total payable, if any;
• the quote expiry.

2.2A second authorised HBC staff member approves every quote before it is shown.

3. Nothing is forfeited#

3.1The products offered must weigh at least as much as the silver the customer owns. No grams are forfeited, rounded away or converted to cash; unfinished silver is never bought back as money.

3.2Where the owned weight does not match a product combination, the customer buys the shortfall at the day's selling price. HBC may, at its discretion, reduce or waive the shortfall price or a making charge; a concession is stated on the quote and never reduces the grams delivered.

3.3Example. A customer owns 108.400 g. The nearest eligible combination is a 100 g coin and a 10 g coin, 110.000 g. The customer buys 1.600 g at the day's selling price and pays the published coin making charges. All 108.400 g are delivered. A combination of 100.000 g is not offered, because 8.400 g would be unaccounted for. The engine shows every feasible combination and the customer chooses; the combination requiring the least additional silver is shown first.

4. Making charges already paid#

4.1Making charges paid under the plan are credited at their invoiced rupee amount against the making charges of the settlement products. Any surplus is returned as HBC Credits under the HBC Credits Terms.

5. Acceptance#

5.1A quote is not binding until the customer accepts it in writing and pays any balance. If the quote expires or prices change, HBC issues a new quote. A customer who does not accept a quote keeps their plan on its existing terms.

5.2On acceptance HBC bills the settlement products, records them against the customer, closes the plan and issues a settlement statement reconciling every gram and every rupee. The products are placed in custody or made available for collection.

6. Partial settlement#

6.1A customer may settle part of a plan into a product their silver already covers and continue the plan with the remainder, where the remaining Target is still achievable.

7. When HBC may decline#

7.1Early settlement is your right. HBC may defer a settlement only while KYC is incomplete, while the plan is the subject of an open complaint, or until a requested product is available; it then proceeds. HBC gives its reason in writing. HBC never declines a settlement in order to keep a customer in a plan.

8. Fixed Price plans#

8.1On a Fixed Price plan the paid portion is converted at the fixed price. Additional silver to complete a product is bought at the day's selling price. Any accrued overdue collection charge is settled before the products are released.

9. Selling a settled product#

9.1After settlement, the customer owns finished products and may collect them, keep them in custody or sell them to HBC under the Sell to HBC Policy. HBC will not automatically convert a plan into cash. A sale to HBC uses HBC's buying price on the day of the sale and is documented separately. Products settled from a Fixed Price plan must be physically collected before they may be sold to HBC (Fixed Price Plan Terms §6.3).

Custody Agreement

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service. Accepted when custody is activated and on each extension.

1. What custody is#

1.1Custody is HBC holding a finished product you own, on your behalf, in a secure vault. It is a bailment: HBC holds the product for you and acquires no interest in it. You remain the owner throughout.

1.2Custody is available for finished products that have been fully paid, made and recorded to you. It is not available for silver under an open plan; that silver is held in segregated customer stock under the plan terms.

2. Where your product is held#

2.1Products in custody are held in HBC Vaults. An HBC Vault is a secure vault facility operated by HBC or, under contract with HBC, by a licensed commercial bank. HBC may move a product between HBC Vaults; it remains recorded to you throughout. Vault locations are not published, for security; HBC will confirm the location of your product on request in store.

2.2Each product in custody is identified to you by serial number (bars) or by product and weight (coins) and shown in your account with its PAN bill number, its Certificate of Authenticity and HBC's ownership record.

3. Starting custody#

3.1Custody starts when you have chosen "Keep with HBC", accepted this Agreement, and paid any custody charge due. Starting custody ends the free eight-week collection period for that product.

3.2You may choose a custody period of one to twelve months and extend it before it ends.

4. Charges#

4.1The custody charge is in the Fees and Charges Schedule (0.006% per day of the product's metal value). It is currently waived under HBC's launch offer; HBC will publish an end date at least 30 days before the waiver ends, and days waived are never charged later. When charged, it is paid in advance for the period chosen. A period ended early is not refunded.

4.2If a custody period ends and you have neither collected nor extended, the overdue collection charge in the Schedule accrues from the day after the period ends until you collect or extend. It is settled before collection or sale and is never deducted from your product. Accrued charges on a product are capped at the amount stated in the Schedule; once the cap is reached, no further charge accrues and section 9 applies.

5. Insurance#

5.1Products in HBC custody are insured against loss, theft and damage under HBC's insurance policy. The insured value of each product is the lower of (a) the metal value at the price you paid and (b) the metal value at HBC's published selling rate on the date of loss. Making charges, fees and levy are not insured.

5.2Insurance is HBC's cover for its own liability to you. If your product is lost or damaged while in custody, HBC replaces it with an identical product or, where that is not possible, pays you the insured value. HBC's liability under this clause is not limited to any insurance recovery.

6. Your rights while in custody#

6.1You may at any time, within the published windows:

• collect the product under the Collection and Handover Policy;
• sell it to HBC under the Sell to HBC Policy (from the app, proceeds are paid as HBC Credits);
• gift it to another verified member under the Gifting Policy.

6.2A product in custody is not a tradeable balance and cannot be used as collateral with HBC.

7. HBC's duties#

7.1HBC keeps your product separate from its own stock, recorded to you, and does not use, pledge, lend or sell it. HBC reconciles custody holdings daily and includes them in its annual audited physical count.

8. Death of the owner#

8.1On the death of a customer, HBC releases the product to the person entitled under Nepalese succession law, on production of the death certificate and the legal documents HBC reasonably requires. Custody charges stop accruing from the date HBC is notified of the death.

9. Uncollected products#

9.1A product left in custody with charges unpaid for more than twelve months after the custody period ended is treated as uncollected. HBC will write to you at your last known address and email at least three times over a further six months. If you do not respond, HBC continues to hold the product for you. HBC will not sell it, take ownership of it or dispose of it without a court order or your written instruction. Charges stop at the cap in the Schedule; the product is released on payment of the capped charges.

10. Ending custody#

10.1Custody ends when the product is collected, sold to HBC or transferred as a gift. HBC issues a handover record or settlement document and closes the custody record.

Collection and Handover Policy

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service.

1. Where and when#

1.1Products are collected in person at HBC's office at Wada No. 1, Gyaneshwor, Kathmandu, on the published collection days and hours shown in the app. Book a slot in the app or by telephone.

1.2HBC does not deliver by post or courier.

2. Who may collect#

2.1The owner, with an original government-issued photo ID matching the KYC record.

2.2A third party, with (a) the owner's signed letter of authorisation naming the collector and the product, (b) a copy of the owner's ID, and (c) the collector's own original photo ID. HBC keeps copies.

2.3HBC may refuse release where identity cannot be verified, where the product is subject to an open complaint or legal hold, or where a charge is outstanding.

3. What happens at handover#

3.1HBC staff present the product, confirm the serial number or product and weight against the record, and weigh it in front of you on request.

3.2You inspect the product. If it is not as described, say so before signing; HBC resolves it under the Purchase Policy. Signing the handover record confirms you received the product described, not that you waive any later right for a defect that could not be seen at handover.

3.3You sign a handover acknowledgement. HBC records the time, staff member and ID presented. You receive the PAN bill and certificate if not already issued.

4. After handover#

4.1Title to the product passed to you when you paid; handover transfers possession. From handover the product is in your care.

4.2A collected product may be sold to HBC from the third day after collection, under the Sell to HBC Policy, after verification.

5. The free period and overdue charge#

5.1Each product has a free collection period of eight weeks. It runs from the date HBC tells you the product is ready (outright purchase, Accumulate completion, early settlement) or from the booking date (Fixed Price). HBC's own delay never shortens it.

5.2After the free period, the overdue collection charge in the Fees and Charges Schedule accrues per day on the product's metal value until you collect or place it in custody. It is settled before release and never deducted from the product.

5.3Delay never forfeits a product or gives HBC any right to sell it. See the Custody Agreement for long-uncollected products.

Sell to HBC Policy (Buy-Back)

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service. Accepted on each sale to HBC.

1. What this is#

1.1A customer who owns a finished HBC product may offer to sell it to HBC. If HBC accepts, HBC buys the product at its buying price on that day. This is a new sale of goods from you to HBC. It is not a refund, cancellation or reversal of your original purchase, and it does not change the original purchase in any way.

1.2HBC buys as a dealer, for its own stock, in the same way a jeweller buys back a piece it sold. It is not an exchange and does not buy or sell on behalf of anyone else.

2. What HBC buys#

2.1HBC buys only finished products that HBC itself made and sold, and that HBC's registry records as owned by you, whether by purchase or by a recorded gift: serialised bars by serial number, coins by product and weight.

2.2HBC does not buy:

• silver under an open plan that has not been made into a product (settle it first under the Early Settlement Policy);
• silver or products not sold by HBC, for anti-money-laundering reasons;
• products from verified jewellery businesses;
• products arising from a Fixed Price plan that have not yet been physically collected (Fixed Price Plan Terms §6.3);
• products whose ownership cannot be verified against HBC's records.

3. When#

3.1Offers are accepted on business days between 11:00 and 14:00. A product in custody may be offered from the app at any time; HBC acts on it in the next window at the buying rate then in force. A collected product may be offered in store from the third day after collection.

4. Price#

4.1HBC's buying rate is published each business day in the app and in store, per 10 g and per tola of fine silver, alongside the selling rate. It is 3.99% below HBC's published selling rate, as stated in the Fees and Charges Schedule. HBC's selling rate follows the daily rate published by Nepal's gold and silver dealers' associations. HBC sets both rates as a dealer.

4.2The price that applies is the buying price at the moment HBC accepts your offer. A quote shown before acceptance is indicative and lapses if the rate changes.

4.3Proceeds are the fine-metal weight of the product multiplied by the buying price. Making charges, fees, levy, custody charges and taxes paid on the original purchase are not recovered. Proceeds may be more or less than you paid.

5. Verification#

5.1A product in custody is verified against the custody and registry record. A collected product is weighed and tested in store before acceptance. A product that fails verification is returned to you unpaid.

5.2KYC must be current. HBC may ask you to confirm identity before paying.

6. Payment#

6.1In store. HBC pays by cheque in your name, issued within three working days of acceptance. At your election HBC may instead issue HBC Credits under the HBC Credits Terms, with the published credit incentive.

6.2From the app (product in custody). Proceeds are issued as HBC Credits, with the published credit incentive, on acceptance. If you want a cheque, you may refund the Credits under the HBC Credits Terms or sell in store.

6.3HBC does not pay cash. HBC's payment obligation is discharged when the cheque is issued to you; your bank's clearing time then applies.

7. Documents#

7.1HBC issues a buy-back settlement document showing the product, weight, buying price, deductions and net proceeds. Your ownership record for the product is closed and the product returns to HBC stock.

8. HBC's discretion#

8.1HBC buys back every eligible HBC product offered under this policy. HBC may decline or defer an offer only where KYC is incomplete, ownership cannot be verified, the product fails verification, the product is subject to a complaint or legal hold, or the offer is made outside rate hours. HBC gives its reason in writing.

8.2HBC does not guarantee any future buying rate. The buying rate moves with the market and may be above or below the price you paid. If HBC ever ceases buy-back as a service, the Terms of Service §16A.2 notice period applies.

10. Tax#

10.1You are responsible for any tax on the proceeds of a sale to HBC. HBC's settlement document shows the price you paid and the price HBC paid you, for your records. HBC deducts tax at source only where the law requires and shows it on the document.

9. Disputes#

9.1Any dispute about weight, verification or price is handled under the Complaints and Disputes Policy. The product is returned to you or held, at your choice, while the dispute is open.

HBC Credits Terms

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service.

1. What HBC Credits are#

1.1HBC Credits are a credit note issued by HBC, denominated in Nepalese rupees, recorded on your account. A credit note arises from a transaction with HBC; it cannot be bought.

1.2HBC Credits are not money, a deposit, a wallet, stored value or an account balance. They earn no interest. They are a trade credit arising from a sale of goods, redeemable against HBC products.

2. How Credits arise#

Credits are created only when:

(a) you sell a product to HBC and take Credits instead of a cheque (with the published credit incentive); a sale from the app of a product in custody is always paid in Credits; (b) a plan adjustment or early settlement leaves a surplus of prepaid making charges.

HBC does not accept cash, bank transfer or any other payment to create Credits. Top-ups are not available. Refunds of money HBC owes you for any other reason are paid to your paying account under the Cancellations, Refunds and Remedies Policy, not as Credits.

3. Using Credits#

3.1Credits may be spent on any HBC product or charge, in the app or in store, in whole or in part with another payment method.

3.2Credits are personal to you. They cannot be transferred, gifted, assigned or used by anyone else.

3.3Credits do not expire.

4. Cashing out Credits#

4.1You may at any time ask HBC to refund unused Credits. HBC refunds the amount less any credit incentive you received when the Credits were issued, by cheque in your name or by bank transfer to the account you pay HBC from, within five working days. There is no other charge. Where Credits arose from a buy-back, the refund therefore equals what HBC would have paid you by cheque on the day of the buy-back.

4.2A refund of Credits is the reversal of a credit note, not a withdrawal from an account. Identity is confirmed before any refund.

4.3HBC does not pay cash.

5. Adjustment and removal#

5.1HBC may adjust Credits to correct an error in their creation. HBC gives you written notice stating the reason, and a second authorised staff member approves the adjustment. Credits are never removed as a penalty.

6. Records#

6.1Every creation, use, refund and adjustment of Credits is recorded with its source transaction and shown in your account. HBC issues a receipt for each.

Cancellations, Refunds and Remedies Policy

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service.

This policy lists every situation in which HBC returns money, replaces a product or closes a transaction, and your statutory rights. It is written so that a customer or a regulator can see the rule for each case in one place.

1. The principle#

1.1When you pay HBC, your money buys silver and ownership passes to you. HBC therefore does not "refund" a bullion purchase: there is nothing to refund, because you own the silver. If you no longer want it, you may sell it to HBC at the buying price under the Sell to HBC Policy, which is a new sale.

1.2Money is returned at the amount paid only where HBC has not performed, has made an error, or the law requires it. Those cases are listed below.

2. Every case#

3. Returns and statutory rights#

3.1HBC's return route is buy-back. Silver is a commodity whose price is set by the market each day. When you buy from HBC you buy at that day's price and own the silver. If you later wish to return it, HBC buys it back at its buying price on that day under the Sell to HBC Policy. HBC does not refund the price paid for a change of mind, because that would make HBC the insurer of the silver price for every customer.

3.2Statutory rights are not affected. The Consumer Protection Act 2075 and the Electronic Commerce Act 2081 give buyers certain rights to return goods and to remedies for goods that are defective, not as described or not delivered. Where such a right applies to a product you bought from HBC, HBC honours it on the terms and within the exceptions the law provides, and pays the amount the law requires.

3.3HBC's position is this. A sale of silver at a disclosed live market price is a completed sale of a commodity whose value every buyer knows will move. The buyer owns the silver from payment and can realise its value at any time through HBC's buy-back. A right to return silver for the price paid after the market has moved would not protect the consumer against a defect or a misdescription, which is what consumer-protection law exists to do; it would transfer the market risk the buyer knowingly accepted onto HBC. HBC therefore treats a change of mind as a sale back to HBC at the buying rate, and applies the statutory return and refund provisions to defects, misdescription and non-delivery. If a competent authority or court rules otherwise on a specific case, HBC complies with that ruling.

3.4To raise a statutory claim, bring the product in its original condition, with its receipt, within the statutory period, to HBC's office, or write to help@app.himalayanbullion.com.

4. How refunds are paid#

4.1Refunds of money are paid to the account from which you paid HBC, by bank transfer, or by cheque in your name where you paid in cash. HBC does not refund in cash and does not refund to a third party's account.

4.2A refund is of the amount paid. HBC pays no interest and no compensation beyond what the law requires.

5. What HBC never does#

• Convert a refund you are entitled to into a buy-back at the buying price.
• Convert a plan into cash without first delivering your silver as product.
• Forfeit any silver you have paid for.
• Deduct a charge from your silver.
• Refuse a statutory remedy by reference to this policy.

6. Complaints#

6.1If you believe a refund or remedy has been wrongly refused, use the Complaints and Disputes Policy. The related product or plan is not closed while your complaint is open.

Payments Policy

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service.

1. How you can pay HBC#

1.1International cards are not currently accepted. HBC will announce when they are.

1.2Every payment must come from an account or wallet in your own name, or the business's name for a business customer. HBC may ask for evidence of the paying account and may return a payment from a third party.

2. When a payment counts#

2.1A payment is confirmed when HBC's system records it as received from the payment provider or bank. The rate and price that apply are those in force when your payment intent was created, held for 40 minutes.

2.2A payment that arrives after the intent has lapsed is applied at the rate in force when it arrives, and the receipt shows that rate. A plan payment is applied to the plan; an outright purchase payment that cannot be applied is returned.

3. Failed, duplicate and unmatched payments#

3.1A payment that fails at the provider is not charged to you. If money is debited but no payment is recorded, tell HBC with the provider reference; HBC traces it with NPS or your bank and applies or returns it within five working days of identification.

3.2A duplicate payment is returned to the paying account within five working days.

3.3HBC does not accept money on account. Any payment that cannot be matched to a purchase, plan or charge is returned to the paying account within five working days.

4. How HBC pays you#

4.1HBC pays by cheque in your name or, for refunds, by bank transfer to the account you paid HBC from. HBC does not pay cash. Buy-back proceeds in store are paid by cheque within three working days of acceptance; buy-backs from the app are paid in HBC Credits. Refunds are paid within the periods in the Cancellations, Refunds and Remedies Policy.

4.2HBC's payment obligation is discharged when a cheque is issued to you; your bank's clearing time then applies. HBC records the issue date.

5. Receipts#

5.1HBC issues a receipt for every payment received and every payment made, with the amount, channel, reference, date and time, and the transaction it relates to. Receipts are permanent records available in your account.

6. Reversals and chargebacks#

6.1If a payment is reversed by your bank or the provider after HBC has applied it, the price for that silver is unpaid. HBC holds the silver or product as security for the unpaid price and gives you 14 days to pay. If the price remains unpaid, HBC may rescind that sale for non-payment, cancel the grams from your allocation register and correct its records. Fraudulent chargebacks are reported.

7. Levy and charges#

7.1Any levy imposed by law on retail precious-metal sales is collected with the payment and shown on the receipt. HBC's charges are those in the Fees and Charges Schedule and no others.

KYC and AML Notice

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Informational notice forming part of the HBC Terms of Service.

1. Why HBC checks identity#

1.1HBC is a dealer in precious metals. Under the Asset (Money) Laundering Prevention Act 2064, its rules, and the Inland Revenue Department's directive for dealers in precious metals and stones, HBC is a reporting entity. It must know its customers, keep records, and report certain transactions to the Financial Information Unit of Nepal Rastra Bank.

1.2These duties are HBC's and cannot be waived by a customer. They apply to every customer, every channel and every transaction.

2. What HBC collects#

Before your first purchase:

• full legal name;
• a government-issued photo identity document (citizenship certificate, passport, national ID or driving licence), photographed or uploaded;
• Permanent Account Number (PAN);
• residential address;
• mobile number and email;
• for a business: company registration, PAN, the authorised representative's identity and authority, and the beneficial owners.

HBC may ask for the source of funds for larger transactions, and for updated documents at any time. KYC is reviewed by a second HBC staff member before it is approved. A guest purchase is subject to the same identification; the information is captured at checkout and reviewed before the product is released.

Foreign nationals may buy with a passport and a Nepal PAN. Payment and buy-back proceeds for foreign nationals are handled in Nepalese rupees in accordance with Nepal's foreign-exchange rules.

3. When HBC may pause or decline#

3.1HBC may pause or decline a purchase, plan payment, settlement, buy-back, gift or refund where:

• identity cannot be verified or documents are expired or inconsistent;
• a payment comes from an account not in your name;
• cash is offered at or above the statutory limit;
• the law requires HBC to do so.

3.2HBC gives its reason where the law permits. In some cases the law forbids HBC from explaining, and HBC will say only that it cannot proceed.

4. Cash#

4.1Cash is accepted in store only, within the limits set by law. Transactions at or above the statutory threshold must be paid through your bank account. HBC does not split a transaction to stay below a limit and will decline requests to do so.

5. Reporting#

5.1HBC files threshold transaction reports and suspicious transaction reports as the law requires. These are filed by HBC's compliance function, independently, and the law prohibits HBC from telling a customer that a report has been made. Customers are not asked about reports and should not expect to be told.

6. Why HBC buys back only its own products#

6.1HBC buys back only products it sold and recorded to the seller, so that the origin of every gram it buys is known. This is an anti-money-laundering control and is not negotiable.

7. Records#

7.1HBC keeps identity and transaction records for the period the law requires after the relationship ends, currently at least five years, and longer where a legal hold applies. These records are kept even if you delete your account. See the Privacy Notice.

8. Your part#

8.1Give HBC true and current information. Tell HBC when your details change. Pay from your own account. A customer who gives false information, uses a third party's account or attempts to structure transactions may have their account closed and may be reported.

9. Compliance contact#

9.1Questions about this notice go to info@himalayanbullion.com. HBC will not discuss individual reports.

Privacy Notice

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Replaces Privacy Policy v1.

This notice explains what personal information HBC collects, why, who processes it, how long it is kept and what you can ask us to do. It is written under the Privacy Act 2075 and the Electronic Transactions Act 2063.

1. Who is responsible#

Himalayan Bullion Company Limited, Wada No. 1, Gyaneshwor, Kathmandu. Privacy questions: info@himalayanbullion.com.

2. What we collect and why#

We do not collect biometric data; your face or fingerprint never leaves your device. Beyond what appears on the identity document you provide, we do not collect date of birth, nationality or occupation unless the law requires it.

3. Who processes it#

HBC uses service providers to run the app and its systems. Each processes only what its service needs, under contract with HBC, and may not use your data for its own purposes. The categories are:

Some providers are outside Nepal. Your data is transferred to them for the purposes above and protected by contract. By using the app you consent to these transfers; if you do not, you may transact in store. A current list of named providers is available on request from info@himalayanbullion.com.

4. Who else may receive it#

• Regulators and law enforcement: HBC discloses information to the Financial Information Unit, the Inland Revenue Department, courts and law-enforcement agencies where the law requires, without notice to you where the law prohibits notice.
• Auditors: HBC's statutory auditors see transaction records.
• No one else. HBC does not sell, rent or share your data for marketing.

5. HBC AI and automated assistance#

5.1The HBC AI assistant in the app and the assistant that answers support emails use a third-party large-language-model service. They answer from HBC's published policies and your account facts. They do not see your ID images, PAN or phone number. A human reviews any matter the assistant cannot resolve. You may ask for a human at any time.

5.2No decision about your account, KYC or a transaction is made by automated means alone.

6. How long we keep it#

7. Your rights#

You may at any time:

• see the personal information HBC holds about you (statement within 15 days);
• correct it in the app or by writing to us;
• withdraw consent to notifications, marketing or device sign-in, in the app;
• object to processing that is not required by contract or law;
• delete your account (section 8).

Write to info@himalayanbullion.com. HBC answers within fifteen days.

8. Deleting your account#

8.1Ask in the app (More → Account → Delete my account) or at member.himalayanbullion.com/delete. HBC confirms your identity, then deletes your sign-in, sessions, device keys, notification tokens, preferences and unfinished checkouts within 30 days.

8.2An account with a product in custody, an open plan, unused Credits, an open complaint or a pending gift cannot be deleted until those are resolved. HBC tells you what is outstanding.

8.3HBC keeps, in restricted storage, what the law requires it to keep: transaction, ownership and document records, KYC records for the statutory period, and your name, PAN and contact details attached to them. These are not used for any other purpose and are deleted when the legal retention period ends.

9. Security#

9.1Access to your data is controlled per staff role. ID documents are held in restricted storage with every access logged. Financial records cannot be altered once written; a correction is a new record. HBC keeps encrypted backups.

9.2If a breach affects your data, HBC tells you and the relevant authority without undue delay, and tells you what to do.

10. Marketing#

10.1HBC sends transactional messages (receipts, readiness notices, custody reminders) because the contract requires them. HBC sends rate alerts only if you set them. HBC sends marketing or broadcast messages only if you opt in, and you may opt out in the app at any time.

11. Children#

11.1HBC's services are for adults. HBC does not knowingly collect data from anyone under 18 and deletes it if found.

12. The public bar verification page#

12.1Every HBC bar carries a verification link. The page confirms the bar is genuine and whether it is in HBC custody. It shows no name, membership number, price or location. It verifies the product, not who owns it.

13. Changes#

13.1HBC publishes a new version when this notice changes, with notice in the app. Every version is in the Version History.

Gifting Policy

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service. Accepted by the sender on offer and the recipient on acceptance.

1. What a gift is#

1.1A gift is the transfer of a finished product you own and hold in HBC custody to another HBC member, for no payment or other consideration. HBC records the change of ownership and the product stays in custody for the recipient.

1.2A gift is a transfer of title to physical goods. It is not a payment, a transfer of value against money, or a trade. HBC does not permit gifts against consideration and does not operate a market between members.

2. Who may gift and receive#

2.1Sender and recipient must both be HBC members who have completed KYC. HBC verifies both before completing the transfer.

2.2Only finished products in HBC custody may be gifted: serialised bars by serial number, coins by product and weight. Silver under an open plan, HBC Credits and collected products cannot be gifted through HBC.

3. How it works#

3.1The sender selects the product in the app and names the recipient by membership number or registered email. The sender confirms that the transfer is a gift for no consideration and accepts this policy.

3.2The recipient is notified and must accept the gift, and this policy, within 14 days. Until acceptance the product remains the sender's and the sender may withdraw the offer. If not accepted in 14 days, the offer lapses.

3.3On acceptance HBC records the recipient as owner, issues a transfer confirmation to both parties, and continues custody for the recipient under the Custody Agreement, which the recipient accepts.

4. Charges#

4.1The gift transfer fee in the Fees and Charges Schedule applies (currently waived under the launch offer). Custody charges from the date of transfer are the recipient's.

5. Limits and refusals#

5.1HBC may refuse or pause a gift where KYC is incomplete for either party, the product is subject to a complaint or legal hold, the pattern of gifts suggests payment or trading, or the law requires. HBC gives its reason where the law permits.

5.2A member may make no more than twelve gifts in any twelve-month period. HBC may lower this limit by publishing the change in the Fees and Charges Schedule 30 days ahead. Gifts are recorded with sender, recipient, product and date, and the record is available to the authorities on lawful request.

6. Tax#

6.1The recipient is responsible for any tax consequence of receiving a gift. HBC issues a transfer confirmation showing the product and its metal value at the date of transfer for the recipient's records. The original PAN bill remains in the sender's name as the purchaser; HBC's registry records the recipient as owner, and that registry record is what HBC relies on for custody, collection and buy-back.

7. After the gift#

7.1The recipient owns the product outright and may collect it, keep it in custody or sell it to HBC under the Sell to HBC Policy. HBC's buy-back eligibility follows the product, which HBC sold and recorded.

Fees and Charges Schedule

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Referenced by every HBC transaction. The version in force when you transact is stamped on your receipt.

HBC charges nothing that is not on this schedule. All charges are shown before you pay.

1. Product charges#

HBC's sales of silver are not subject to VAT.

2. Plan charges#

3. Collection, custody and overdue charges#

4. Buy-back#

5. HBC Credits#

6. Gifts#

7. Payments#

8. Documents#

9. Changes#

A change to this schedule is published 30 days before it takes effect and applies only to transactions after that date. A Fixed Price plan's fixed price, and any charge frozen on a plan at booking, are not changed by a later schedule.

Complaints and Disputes Policy

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service.

1. How to complain#

1.1Write to HBC's complaints desk:

• in the app: More → Help → Make a complaint;
• by email: help@app.himalayanbullion.com;
• by letter: Complaints Desk, Himalayan Bullion Company Limited, Wada No. 1, Gyaneshwor, Kathmandu;
• in person at HBC's office.

1.2Give your membership number, the transaction or product concerned, what went wrong and what you want HBC to do. Attach receipts or photos if you have them.

2. What happens#

3. While your complaint is open#

3.1A plan, product, Credits or transaction that is the subject of your complaint is not closed, settled, sold or adjusted without your written consent while the complaint is open. Other plans and products on your account are unaffected.

3.2No overdue or custody charge accrues on the disputed item while the complaint is open. Accrual resumes from the date of HBC's decision if the complaint is not upheld; it is never applied retrospectively to the complaint period.

4. Records#

4.1HBC keeps a register of every complaint, its decision and any remedy, and reviews it quarterly to correct recurring causes.

5. External bodies#

5.1You may at any time, without first complaining to HBC, approach:

• the Department of Commerce, Supplies and Consumer Protection, under the Consumer Protection Act 2075 and the Electronic Commerce Act 2081;
• the Consumer Court or the District Court having jurisdiction;
• for anti-money-laundering concerns, the Financial Information Unit of Nepal Rastra Bank.

HBC cooperates with every such body.

6. Governing law#

6.1Nepalese law governs. The courts of Kathmandu have jurisdiction, without prejudice to your rights before the bodies above.

7. Feedback that is not a complaint#

7.1Suggestions and general questions go to help@app.himalayanbullion.com or the in-app assistant. HBC aims to answer within two working days. If you want a matter treated as a complaint, say so and it will be registered as one.

App and Website Terms

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service.

1. Scope#

1.1These terms cover the HBC app on iOS and Android, the web app at app.himalayanbullion.com, and the member site at member.himalayanbullion.com (together, the "Services").

2. What the Services are#

2.1The Services are HBC's own shop. Through them you buy physical silver from HBC, see what you own, arrange collection or custody, offer products back to HBC, and manage your account. Nothing on the Services is a market, exchange or trading platform.

2.2Rates shown are HBC's dealer prices. They are indicative until a payment is confirmed. Any chart, price history or market information shown is background information about the silver market, provided for context only; it is not advice, not an offer, and not a trading tool.

3. No advice#

3.1HBC does not give investment, financial, tax or legal advice. Nothing in the Services, including the HBC AI assistant, market commentary or any description of a product, is a recommendation to buy or sell silver or a statement about its future price. Silver can fall in value. Decide for yourself or take independent advice.

4. Your account and security#

4.1You must give true information and keep it current. One account per person. You are responsible for every action taken with your credentials, device keys and passkeys until you tell HBC they are compromised.

4.2Do not share your sign-in, let anyone else use your account, attempt to access another account, probe or interfere with the Services, or use them for anything unlawful. HBC may suspend an account for misuse.

5. Availability and changes#

5.1HBC aims to keep the Services available but does not guarantee uninterrupted access. HBC may suspend the Services for maintenance, security or legal reasons. HBC may require you to update the app to continue using it.

5.2If the Services are unavailable, you may transact in store during business hours. Your ownership, custody and plan records are unaffected by any outage.

6. Errors#

6.1If the Services display a price, quantity or record that is plainly wrong because of a system error, HBC corrects the display to match its receipts, allocation register and PAN bills, which you may inspect and dispute under the Complaints and Disputes Policy. A purchase made at a plainly wrong price may be cancelled under the Terms of Service §5.5 with every amount returned.

7. HBC AI assistant#

7.1The assistant answers questions from HBC's published policies and your account facts. It is a tool, not a person, and HBC says so in the app. Its answers do not vary HBC's policies; where an answer and a policy differ, the policy governs. You may ask for a human at any time.

8. Third-party content#

8.1The Services include content from third parties (market chart, payment pages, wallet passes). HBC does not control it and is not responsible for it beyond what the law requires.

9. Intellectual property#

9.1The Services, HBC's name, logos, product designs and content belong to HBC. You may use them only to use the Services.

10. Liability#

10.1HBC is liable for its own breaches and for the products it sells. HBC is not liable for loss from unavailability of the Services, from your device or network, or from your sharing of credentials, except where the law provides otherwise. Nothing here excludes liability that cannot be excluded by law.

11. Ending use#

11.1You may stop using the Services at any time. Your products, plans and Credits remain yours and are managed in store. Account deletion is under the Privacy Notice.

Promotions Terms

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Part of the HBC Terms of Service. Shown with each promotion.

1. General#

1.1A promotion is a discretionary benefit HBC offers for a stated period. It is not a contractual term of any product unless the promotion says so. HBC may end a promotion for new transactions by publishing an end date at least 30 days ahead. A benefit already earned is honoured.

1.2A promotion never changes the price at which silver was bought, the grams you own, or any statutory right.

1.3Any promotion, draw or offer HBC runs is governed by its own published rules, issued under this section, which state the period, eligibility, benefit, exclusions and how it is conducted. Where a promotion is a prize draw, HBC conducts it in accordance with Nepalese law and publishes its rules before entries open.

2. Current promotions#

2.1 Launch offer — fee waivers#

• The custody charge is waived for products in HBC custody.
• The gift transfer fee is waived.
• No end date has been set. HBC will publish an end date at least 30 days before the waiver ends. Days and transfers already waived are never charged later. From the end date, the Fees and Charges Schedule applies to new custody periods and transfers.

2.2 Credit incentive#

• A customer who sells a product to HBC and takes HBC Credits instead of a cheque receives the published incentive (1% of the buy-back value) as additional Credits. If the Credits are later refunded, the incentive is deducted. See HBC Credits Terms.

3. Round Up donation#

3.1At checkout you may round your payment up. The difference is donated by HBC to the charitable recipient named at checkout. The donation is voluntary, shown separately on your receipt, and is not part of the product price. It is not refundable except where the whole order is refunded.

4. Membership tiers#

4.1Membership tiers and the Apple or Google Wallet membership card recognise your history with HBC. A tier carries only the benefits published under this section. No tier benefits are currently published. A tier is not a financial product and carries no balance.

5. Future offers#

5.1Any referral, discount or other offer will be published here with its period, eligibility, benefit and exclusions before it starts.

Company Information

Himalayan Bullion Company Limited — Version 2.0, effective from 9 September 2026. Published under section 4 of the Electronic Commerce Act 2081 and shown on every HBC document and page.

1. Legal identity#

2. Addresses#

3. Contacts#

4. Platforms#

5. Regulatory position#

5.1HBC is a refiner and retailer of physical precious metals. It sells its own products to customers and buys its own products back, as a principal. It holds the registrations above.

5.2HBC does not hold, and does not require, a licence as a bank, payment service provider, payment system operator, commodity exchange, commodity broker, securities dealer or collective investment scheme, because it carries on none of those activities.

5.3Why HBC is a dealer and not an exchange. The Commodities Exchange Market Act 2074 regulates organised markets in which standardised contracts for commodities are traded between members, cleared and settled through a clearing house, with warehouse receipts standing in for goods. HBC does none of this:

• HBC is the seller in every sale and the buyer in every buy-back. No customer ever trades with another customer, and HBC does not match, broker or clear anyone's transactions.
• Every payment to HBC buys a stated weight of physical silver at a disclosed price, with ownership passing on payment. There is no contract for future delivery at a future price, no margin, no leverage, no short position and no expiry.
• HBC never pays a price difference. HBC pays money only when it buys a finished, identified physical product from its owner, at its published buying rate, after the product has been made, recorded and, where the policies require, physically collected.
• Silver bought in parts is held as physical metal in segregated customer stock, owned by the customer by weight and audited annually by physical count. HBC issues no unit, receipt, certificate or token that can be traded or that represents a share of a pool.
• HBC's buying and selling rates are a dealer's prices, set by HBC and following the daily rate published by Nepal's gold and silver dealers' associations, as every jeweller in Nepal does.

5.4Why HBC is not a bank or payment operator. HBC does not accept money on deposit or on account, pays no interest, and holds no customer funds. Every rupee paid to HBC buys silver or pays a charge the same day, or is returned. HBC Credits are credit notes arising from a sale of goods, redeemable against HBC products or refundable; they cannot be bought, topped up or transferred.

5.5HBC is audited annually by independent chartered accountants, including a physical count of silver reconciled to its ledgers. Customer silver and products in custody are included in that count.

6. Payment partner#

7. Updates#

7.1HBC updates this page within 48 hours of any change, as the Electronic Commerce Act requires.

Version History

Himalayan Bullion Company Limited — Every version of every HBC policy, with its effective period and digest. A transaction is governed by the version in force when you accepted it; your receipt shows the version.

Current versions#

Superseded versions#

Transition rule#

A plan, custody arrangement or Credits balance opened under a superseded version continues on that version unless you accept the current version in the app. Where the current version is more favourable to you (for example, the removal of any forfeiture on early settlement), HBC applies the more favourable term to existing plans from the effective date.