Gifting Policy
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.