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.