Terms & Condition

Terms & Condition Treasury - GoPay Digital Gold

A. Introduction

These terms and conditions (“Terms and Conditions”) govern the user (“User” or “You”) when accessing and using the Digital Gold transaction services (as defined below) from PT Indonesia Logam Pratama (“Treasury” or “We”) which are facilitated by GoPay (“Platform Provider”) through the integration of Treasury’s Digital Gold transaction feature (“Treasury Feature”) within the application owned by the GoPay Platform Provider (“Digital Gold Service”).

Treasury is the first physical trader of Digital Gold in Indonesia to obtain an official license from the Commodity Futures Trading Regulatory Agency of the Ministry of Trade of the Republic of Indonesia (“Bappebti”) on December 13, 2021, based on the Decree of the Head of BAPPEBTI Number 001/BAPPEBTI/P-ED/12/2021 concerning Approval as a Physical Trader of Digital Gold to PT Indonesia Logam Pratama as well as the Certificate of Approval as a Physical Trader of Digital Gold Number 001/BAPPEBTI/P-ED/12/2021. Treasury has a mission to provide convenience for the wider community to be able to invest in gold at an affordable price, anytime and anywhere.

You understand that Digital Gold buying and selling transactions are high-risk activities due to gold price fluctuations that can occur at any time. Hereby, you declare that before conducting transactions through the Digital Gold Service, you have carefully considered and understood all risks associated with such decisions. You also acknowledge that the use of this Digital Gold Service is done voluntarily, without any coercion or pressure from any party. We advise you to always conduct the necessary research and analysis before transacting through the Digital Gold Service.

These Terms and Conditions constitute a binding agreement between Us, the Platform Provider, and You regarding the use of the Digital Gold Service. By continuing to use the Digital Gold Service, you are deemed to have understood and agreed to all provisions contained therein, including but not limited to any policies applicable to the Platform Provider, these Terms and Conditions, as well as other applicable Treasury policies. We encourage you to read them carefully, as these Terms and Conditions govern your rights and obligations as well as Our responsibilities as the provider of the Digital Gold Service. We may make changes to these Terms and Conditions at any time, so We advise you to visit the Application periodically. If you do not agree with these terms, We advise you not to continue using the Digital Gold Service.

B. General

1. Before you continue using the Digital Gold Service, you must first be registered as a user of the Application and have an account on the Application, including undergoing the verification or Know-Your-Customer (“KYC”) stage conducted by the Platform Provider, in accordance with applicable terms and conditions.
2. You understand that in providing the Digital Gold Service, We collaborate with a third party, namely the Platform Provider. Therefore, you understand that in the provision of the Digital Gold Service, We only act in the capacity of a seller and/or provider of gold and do not act as the provider of the Application platform.
3. You understand and agree that the products traded through the Digital Gold Service are Digital Gold, which is pure gold with a minimum Aurum (Au) content of 99.9% in certain weights, the ownership recording of which is done digitally (electronically) (“Digital Gold”). Each purchase of Digital Gold is fully backed by physical gold stored by a third party (depository) collaborating with Treasury.
4. You understand and agree that We do not provide any guarantee that you will profit from purchasing Digital Gold. Furthermore, We are also not responsible for any losses that may occur due to gold price fluctuations and/or other factors. You are fully responsible for the investment decisions taken and are advised to perform mature evaluation and consideration before conducting Digital Gold transactions through the Digital Gold Service.
5. In conducting Digital Gold transactions through the Digital Gold Service, you can only use 1 (one) account registered on the Platform Provider’s Application. Therefore, if you are already registered in the Application, you cannot register a new account on the Application using the same data as your registered account.
6. In conducting various transactions through the Digital Gold Service, the User can only transact through 1 (one) device. Changing devices makes the previous device unusable simultaneously with the new device. The use of 2 (two) or more devices to conduct transactions within close proximity of time and/or simultaneously is qualified as a violation of these Terms and Conditions, and Treasury reserves the right to abort or cancel such transactions and put the User on Treasury’s blacklist.
7. Treasury reserves the right to cancel a User’s Digital Gold transactions or block a registered User’s account that is indicated and deemed suspicious by Treasury and not in compliance with the laws and regulations of the Republic of Indonesia, regulations of competent authorities, and these Terms and Conditions, as well as Users who have been included in Treasury’s blacklist.
8. Users can access Profit/Loss information of the Gold they own in both Rupiah currency and percentages. Users acknowledge that such Profit/Loss information is not absolute and/or fully accurate and will change at any time following the gold market price fluctuations displayed in the Treasury Feature in the Application.
9. Users are limited to conducting Gold purchase transactions and/or Gold sale transactions and/or Gold minting (printing) transactions up to 20 (twenty) transactions each per day on the Treasury Feature in the GoPay Application.
10. Users are limited to conducting Gold purchase transactions and/or Gold sale transactions with a maximum value of Rp5,000,000,000 (five billion rupiah) per day on the Treasury Feature in the GoPay Application.
11. Users can conduct gold purchase transactions and/or Gold sale transactions with a minimum value of Rp100 (one hundred rupiah) up to Rp1,000,000,000 (one billion rupiah) per transaction.

C. KYC Provisions and Process

1. To be able to conduct Digital Gold transactions through the Digital Gold Service, you understand that We will obtain your data and/or information from the Platform Provider for KYC purposes, as follows:
   • Full name (according to KTP/ID Card);
   • NIK (National Identification Number)
   • Gender
   • Place, date of birth;
   • Address
   • Occupation
   • Monthly Income.
2. In addition to the above information, for the purpose of verifying the information you submit in the context of KYC for Digital Gold transactions, if needed, you are also required to submit supporting data, including:
   • Photo of your KTP/ID Card and your selfie;
   • Taxpayer Identification Number (NPWP);
   • Family Card (Kartu Keluarga) for inheritance purposes, if relevant; and
   • Bank account data to be used for Digital Gold transactions, if relevant.
3. In processing the data and/or information as referred to in numbers 1 and 2 above, you understand and acknowledge that We obtain such data and/or information in Our capacity as a personal data processor from the Platform Provider acting as the personal data controller. Therefore, the Platform Provider is fully responsible for every process and requirement mandated in the collection and sharing of personal data based on applicable laws and regulations, including but not limited to obtaining prior consent from the User regarding the sharing of User data and/or information to Treasury.
4. The User hereby releases Treasury from any form of responsibility regarding the validity of the collection, sharing, and any processing activities carried out by the Platform Provider under applicable laws and regulations in connection with sharing User data and/or information for KYC purposes to Treasury, and that all risks and/or problems that may arise in connection therewith are the full responsibility of the Platform Provider as the personal data controller.
5. We reserve the right to reject your registration or block your registered account which is indicated and deemed suspicious by Treasury and not in compliance with the laws and regulations of the Republic of Indonesia, regulations of competent authorities, and Treasury’s terms and conditions, also if you have been included in Treasury’s blacklist.

D. Buying Digital Gold

1. Purchases of Digital Gold can be made using the payment options available on the GoPay Application.
2. The maximum total amount of Digital Gold purchases in 1 (one) day is in accordance with the amount listed in the purchase limitation notification that appears on the purchase page.
3. Digital Gold obtained by Users from purchasing Digital Gold on the Treasury Feature through the GoPay Application is categorized as organic Digital Gold.
4. Digital Gold obtained by Users free of charge from promos conducted by Treasury and/or partners and/or Treasury marketplaces is not categorized as organic Digital Gold.
5. The billing amount for the purchase of Digital Gold displayed to the User on the GoPay Application is the total payment including the price of Digital Gold, administrative fees (if applicable), and the imposition of applicable taxes based on prevailing laws and regulations.
6. The purchase price of Gold based on the invoice will be locked according to the price displayed at the time the User initiates the purchase process.
7. Digital Gold purchases must be made by entering a Transaction PIN which is confidential and only known by the User concerned. The User is responsible for the security of the Transaction PIN and the User’s account.
8. The purchase price of Digital Gold constantly changes at any time (minute) following the fluctuations of the world gold price, which can be monitored by the User through the GoPay Application.
9. Users can only make Digital Gold purchases and/or other transactions through 1 (one) device with a maximum transaction in accordance with the limits set on the GoPay Application. Treasury reserves the right to cancel transactions made by Users that do not comply with this provision. Cancellation of transactions will be carried out by canceling the entirety of the transactions made within such close proximity of time.
10. Purchased Digital Gold will be automatically recorded on Treasury’s system free of charge and without time limits according to the User’s preference and will be recorded in the User’s Platform Provider account.
11. Digital Gold that has been transacted can be: (i) sold according to the selling price applicable at the time the User wishes to sell; (ii) minted and physically collected (if available); and/or (iii) transferred to fellow Users (if available), in accordance with the applicable Terms and Conditions.

E. Selling Digital Gold

1. The minimum sell amount of Digital Gold through the GoPay Application is determined in accordance with the nominal amount listed on the display in the GoPay Application at the time the User conducts the sell transaction in the GoPay Application.
2. Money from the sell of Digital Gold will be sent to the User using a method that matches the instructions or information that appears during the sell of Digital Gold. Therefore, the User must ensure that the entered data is correct.
3. The sell of Gold must be made by entering a Transaction PIN which is confidential and only known by the User concerned. The User is responsible for the security of the Transaction PIN and the User’s account.
4. The selling price of Digital Gold constantly changes at any time (minute) following the fluctuations of the world gold price, which can be monitored by the User through the GoPay Application.
5. Users can only conduct Digital Gold sells and/or other transactions through 1 (one) device with a maximum transaction in accordance with the limits set on the GoPay Application. Treasury reserves the right to cancel transactions made by Users that do not comply with this provision. Cancellation of transactions will be carried out by canceling the entirety of the transactions made within such close proximity of time.
6. The selling price of Gold will be locked according to the price listed on the display that appears when the User initiates the sell.
7. Failure in conducting the sell of Digital Gold and/or withdrawing money from the sell of Digital Gold caused by errors and/or discrepancies in the User’s data, including but not limited to KTP/ID Card, NPWP, Family Card, or bank account data, is not the responsibility of Treasury.
8. In the event that there is a promo related to the sell of Digital Gold, the terms and conditions regarding the promo are also binding on the User.
9. Treasury has the right to cancel a User’s Gold sell or block a registered User’s account that is indicated and deemed suspicious by Treasury and not in compliance with the laws and regulations of the Republic of Indonesia, regulations of competent authorities, and applicable Terms and Conditions, as well as Users who have been included in Treasury’s blacklist.

F. Inheritance of Digital Gold

1. Digital Gold contained in the GoPay Application of a deceased User can be inherited to the User’s heirs based on information held by the Platform Provider. Therefore, in terms of inheriting Digital Gold, We will coordinate with the Platform Provider to ensure that the Digital Gold is received by the legitimate heirs of the User.
2. Heirs are parties entitled under applicable laws and regulations who are recorded in the Family Card registered by the User.
3. If the User does not register a Family Card containing the parties entitled to receive inheritance, the legitimate heirs can submit a request to Treasury by submitting an Inheritance Determination Deed issued by a competent Court and/or other inheritance determinations issued by institutions entitled to issue inheritance determinations according to applicable laws and regulations.
4. In the event that there is a will from the User, the submission of the will by the User’s heirs must still include the inheritance determination document as referred to in the provision of number 3 above.
5. For heirs who are not yet legally competent/of age under applicable laws and regulations, there must be a statement indicating a legitimate guardianship that is legally entitled to be the guardian of such heirs.
6. Treasury is not responsible for disputes that occur regarding inheritance between heirs and/or other parties; the Family Card document and inheritance determination document provided by the User or their heirs to Treasury are considered original, valid, and possess legal force. Treasury is not obligated to verify the validity and/or authenticity of the documents provided in connection with the Inheritance of Gold as contained in these Terms and Conditions.

G. Account Closure

1. Users can close their digital gold account on the GoPay Application for the Digital Gold Service at any time, which can be done through confirmation from GoPay Customer Service to be forwarded to Treasury.
2. In the event that there is remaining Gold belonging to the User in the Digital Gold Service, the User is required to sell and/or mint if relevant and/or convert and/or withdraw the Gold owned in the User’s account as well as settle all ongoing transactions in the Digital Gold Service before closing the account. If these matters have not been done, the User cannot close the account on the GoPay Application for the Digital Gold Service.
3. Users who have successfully closed their accounts cannot re-register to the GoPay Application for the Digital Gold Service using the same email and phone number as the closed User account.

H. Blocked Account

1. Treasury reserves the right to block accounts of Treasury Users who violate the laws and regulations of the Republic of Indonesia, regulations of competent authorities, these Terms and Conditions, as well as other applicable terms and conditions.
2. Treasury will deactivate the Treasury Feature accessible by the User through the GoPay Application that is to be blocked due to violations as referred to in the provision of number 1 above.
3. Treasury will send an email to the registered email address on the blocked User’s account stating that a violation has occurred, along with details of the follow-up action on the blocking.
4. In the event that there is remaining Digital Gold belonging to the User in the Digital Gold Service blocked by Treasury, Treasury will conduct an internal investigation to verify the validity of the ownership of the Digital Gold. If the Digital Gold owned is indeed valid and complies with all Terms and Conditions, Treasury will convert the remaining Digital Gold into money, according to the selling price listed on the Treasury Feature in the GoPay Application calculated as of the blocking date informed by Treasury to the User’s account.
5. Treasury reserves the right to forfeit transaction benefits in the form of Digital Gold, money, and/or other forms owned by Users who, upon investigation by the Treasury team, are found to violate the laws and regulations of the Republic of Indonesia, regulations of competent authorities, these Terms and Conditions, as well as other applicable terms and conditions.
6. The provisions for converting the remaining Digital Gold belonging to a User blocked by Treasury will be subject to the provisions of the sell of Digital Gold as referred to in these Terms and Conditions, which include but are not limited to provisions for sending money resulting from the conversion of Digital Gold.
7. In the event that the money from the conversion of Digital Gold belonging to the blocked User does not meet the minimum bank transfer provisions according to authority regulations in the banking sector, which include but are not limited to Bank Indonesia, the Financial Services Authority (OJK), and/or the provisions of each bank registered by the User as the bank used for transacting in the Digital Gold Service, the User can collect the money at a place to be determined by the Treasury team.
8. Users who have been blocked cannot re-register on the GoPay Application for the Digital Gold Service, including using the same data and information owned by the blocked User, which includes but is not limited to email data, KTP/ID Card, NPWP, or the User’s account number.
9. In the event that there is a dispute regarding the blocking of a Treasury User who violates the laws and regulations of the Republic of Indonesia, regulations of competent authorities, these Terms and Conditions, as well as all applicable terms and conditions, the dispute resolution provisions in these Terms and Conditions will apply.

I. Disclaimer

1. The Digital Gold Service is provided for User use on an “as is” and “as available” basis. Treasury makes no representations that the Digital Gold Service (including recommendations, information, or data) will: (i) be error-free; (ii) be fit for a particular purpose, regardless of whether Treasury has been advised of such purpose or not; (iii) produce certain results, or that such results will be accurate, adequate, reliable, or timely; (iv) definitely provide profits and be free from potential losses; or (v) receive or transmit information accurately, adequately, reliably, or timely. Other than the warranties expressly set forth in these Terms and Conditions, Treasury hereby excludes all implied terms, conditions, and warranties, including implied terms regarding satisfactory quality or fitness for purpose, to the extent permitted by applicable law.
2. Treasury does not guarantee that the Digital Gold Service will provide certain results. Specifically, and without limiting the foregoing provisions, no guarantee, warranty, or representation is made regarding the security and protection of the User’s system. In addition, Treasury does not represent or warrant that the Digital Gold Service will be error-free, always available, or operate without loss or damage to data or technical damage.
3. The User acknowledges that the Digital Gold Service operates online and, therefore, the Digital Gold Service and its performance depend on third-party infrastructure and services, such as hosting services, telecommunications networks, third-party systems, internet service provider networks, products and/or services provided by third parties. To the extent there is a breach of these Terms and Conditions by Treasury and such breach is caused by a default of third-party infrastructure and service providers, as well as breaches that do not constitute a breach of these Terms and Conditions, Treasury will not be liable to the User for losses suffered by the User or caused by third-party failures.

J. Waiver and Limitation of Liability

1. By using the Digital Gold Service, the User acknowledges that all Digital Gold transactions conducted through the GoPay Application are the responsibility of Treasury. Treasury is fully responsible for the validity, security, and smoothness of every Digital Gold transaction that takes place through the GoPay Application, as long as it is a Treasury Feature.
2. The Platform Provider will not be responsible for losses or problems arising from Digital Gold transactions conducted through the GoPay Application caused by systems from Treasury, including but not limited to transaction errors, inaccuracies of information, or system failures related to the Treasury Feature.
3. Treasury will not be responsible for matters relating to the GoPay Application and/or anything provided by the Platform Provider. This includes, but is not limited to, the operation of the GoPay Application, services provided, and the provision of platform features for the Treasury Feature.
4. The User understands that any payment method that can be used for the Digital Gold Service involves a third party; therefore, the User hereby releases Treasury from any liability including reimbursement of costs and compensation related to payment processing, reliability of the payment system organized by partners of Treasury, or refunds in the event that there are problems with transactions due to any cause, including due to your negligence and/or error.
5. Users are not allowed to transfer and/or grant power of attorney to other people to operate the User’s account. Treasury will not be responsible for matters in the form of fraud and/or criminal acts and/or losses arising from the transfer and/or granting of power of attorney to operate the account, and all losses will be fully borne by the User.
6. Failure in performing various transactions of the Digital Gold Service caused by errors and/or discrepancies in data from the User, including but not limited to KTP/ID Card, NPWP, Family Card, or bank account data, is not the responsibility of Treasury.
7. Treasury will not be responsible for errors arising from User negligence.
8. Any type of malware attack, data theft, and other security disruptions caused by using a device that has been jailbroken or rooted is not the responsibility of Treasury.
9. Treasury does not allow Users to use the Digital Gold Service to carry out activities and/or transactions that are not activities and/or features and/or transactions provided and/or promoted by Treasury. Treasury is not responsible for activities and/or transactions carried out by Users that are not activities and/or features and/or transactions provided by Treasury on the GoPay Application. The User hereby understands and agrees to release Treasury along with all its management, employees, and consultants from liability, including but not limited to legal and financial liability, for the misuse of activities and/or features and/or transactions carried out by such User.

K. Applicable Law and Dispute Resolution

1. These Terms and Conditions are subject to the laws of the Republic of Indonesia.
2. In the event that there is a conflict or dispute arising between You and us in connection with the Digital Gold Service, it will be resolved first by deliberation and consensus (amicably).
3. If an agreement is not reached from the settlement as referred to in number 2 above within a period of 30 (thirty) calendar days since the deliberation was conducted, then You agree that legal action to resolve the conflict or dispute will be resolved exclusively within the jurisdiction of the courts of the Republic of Indonesia, as relevant.

L. Miscellaneous

1. Users who have been included in Treasury’s blacklist are not allowed to participate in promos conducted by Treasury, the Platform Provider, or other third parties cooperating with Treasury. Treasury reserves the right to cancel transactions and/or forfeit any forms and benefits provided by Treasury owned by Users who have entered the blacklist or who are not entitled to be obtained by the User and/or obtained by the User but not in accordance with these Terms and Conditions.
2. By conducting transactions (including but not limited to purchasing, selling, transferring, and minting Gold transactions) on the Digital Gold Service, the User is deemed to have known, understood, and agreed to all Terms and Conditions, Privacy Policy, and various other provisions applicable to the Digital Gold Service; violation of one or all of these provisions grants authority to Treasury to take actions including but not limited to blocking the User’s account.
3. The User declares to know and agree not to use the Treasury Feature for money laundering activities and/or terrorism financing and/or proliferation of weapons of mass destruction and/or other unlawful acts. Treasury will not be responsible if the User uses the Digital Gold Service for activities prohibited by Treasury. In the event that Treasury finds indications of unlawful use of the Digital Gold Service, Treasury reserves the right to follow up on this by reporting it to the relevant law enforcement agencies.
4. Treasury reserves the right to follow up on all forms of fraud and/or criminal acts committed by Users and/or other parties in carrying out operations and/or transactions on the Treasury Feature in the GoPay Application to the competent law enforcement agencies.
5. If there is a provision or part of these Terms and Conditions that becomes invalid, unenforceable, or becomes void, We will adjust the provision so that it can be implemented in accordance with applicable laws and regulations, whereby other provisions of these Terms and Conditions that do not conflict will remain in full force and effect.
6. In the event that you experience problems while using the Digital Gold Service, you can contact GoPay Customer Service through the available services.