Minor Updates to our Terms of Service (S.T.A.R. Storage and S.T.A.R. Grams)

We have made a minor update to Silver Bullion’s Terms of Service to improve clarity and align the language more closely with our existing services and documentation. These updates do not affect your rights, your holdings, any fees, or how our services operate.

Below is a summary of the clarifications:

1. Clause 7.1 – Transfer on Death Instruction (Account Terms)
   We have updated Clause 7.1 to align with what is already reflected in our Transfer on Death Form. This update does not change our procedures but simply incorporates language to clarify how we handle active loan contracts when the account holder is a lender.
   
   What was added:
   “(c) Transfer the proceeds of any active Loan Contract(s) where you are the Lender upon their maturity or early repayment by the Borrower;”
   
   This ensures that all steps under the Transfer on Death instruction are fully and consistently reflected in the Terms.


2. Clause 7.2 – Precious Metals Re-Allocation (S.T.A.R. Gram Terms)
   Clause 7.2 was clarified to restate that any operational re-allocation of precious metals backing your S.T.A.R. Grams will always remain within the same quality and purity standards. This clarification simply affirms what is already practiced and described elsewhere in the Terms.
   
   What was added:
   “For clarity, where an Allocated Bar of a certain type of standardized precious metal backing a S.T.A.R. Gram is re-allocated with another Allocated Bar of the same type of standardized precious metal, such re-allocation would be considered not to have affected your holding of a specific quality and assay of a particular type of standardized precious metal as all Allocated Bars comply with the minimum purity standards set out in Clause 1.3.”
   
   There is no change to your ownership or the quality of the underlying metals.


3. Updated Definition of "Allocated Bar"
   We have revised the definition of “Allocated Bar” to explicitly affirm that fractional units of these bars are owned outright by you. This wording reinforces the existing structure and ensures clarity in how your S.T.A.R. Grams are backed by specific physical assets.
   
   Revised definition:
   “Allocated Bar” means the physical gold, silver, or platinum, fractional units of which are owned outright by you, as allocated to your S.T.A.R. Grams holdings, and stored at the Vault under a safekeeping or custody arrangement, which may be re-allocated at the sole discretion of the Company in accordance with Clauses 7.2 and 7.3. Photos and information of the allocated bars can be viewed through the S.T.A.R. Grams Explorer.


4. Removal of Nickel Gram Clauses
   We have removed clauses relating to Nickel Grams, a product which was previously included in the Terms of Service for potential future launch but was never offered. This cleanup helps streamline the document and ensures the Terms accurately reflect the services currently available.

If you have any questions, please contact us via Secure Notification or email us at [email protected].