1. Acceptance of Terms
These Terms of Service ("Terms") govern your use of the KaratShield Secure Vault website and, together with your executed Storage Agreement, the provision of storage and custody services by KaratShield Secure Vault ("KaratShield," "we," "us," or "our"). By using our website or entering into a storage relationship with us, you agree to be bound by these Terms. If you do not agree, please do not use our website or services.
2. Description of Services
KaratShield provides secure, insured physical storage for gold, silver, diamonds, fine art, and other high-value assets, along with related logistics and account services, at our facilities in Toronto, Zurich, Singapore, London, and Dubai. Specific storage terms, fees, and access rights for a given account are set out in the client's individual Storage Agreement, which takes precedence over these general Terms in the event of any conflict.
3. Eligibility and Account Opening
Storage accounts are available to individuals aged 18 or older and to duly authorized legal entities. All accounts are subject to identity verification, source-of-funds review, and other Know Your Customer (KYC) and anti-money-laundering (AML) checks in line with applicable law. KaratShield reserves the right to decline any application, or to decline any specific asset for storage, at its sole discretion, including where an asset's provenance cannot be adequately verified.
4. Fees and Payment
Storage fees are set out in each client's fee schedule and are payable by wire transfer or approved direct debit. Fees are generally calculated based on asset category, declared value, storage class, and facility, and are billed on the schedule specified in the client's Storage Agreement. Accounts with fees more than 30 days past due may be suspended, and assets may be subject to lien procedures set out in the Storage Agreement, following written notice.
5. Insurance
Assets held at KaratShield facilities are covered under our master insurance policy, underwritten by one of the world's top 10 banking institutions with capacity of up to USD 2 Billion in aggregate coverage. Coverage terms, including any per-item sub-limits, exclusions, or requirements for supplemental coverage on exceptionally high-value single items, are detailed in the client's Storage Agreement and insurance certificate. Clients are responsible for ensuring declared values are accurate and current.
6. Access to Stored Assets
Account holders may access stored assets during standard business hours (Monday–Friday, 9:00 AM–6:00 PM ET) or by pre-scheduled appointment 24 hours a day, 7 days a week. Access requires successful identity verification at each visit. Clients may designate authorized representatives in writing, subject to their own identity verification.
7. Prohibited Assets and Activities
KaratShield does not accept assets that are stolen, unlawfully obtained, subject to unresolved title disputes, or otherwise prohibited by applicable law, including sanctions regimes. We reserve the right to refuse, remove, or report any asset reasonably suspected of falling into these categories, and to cooperate with lawful requests from regulators or law enforcement.
8. Limitation of Liability
Except as expressly set out in a client's Storage Agreement and applicable insurance coverage, KaratShield's liability for loss or damage to stored assets is limited to the insured value of the affected asset as declared and accepted at the time of deposit. KaratShield is not liable for indirect, incidental, or consequential damages, including loss of profit or loss of opportunity, to the maximum extent permitted by applicable law.
9. Client Assets Held in Trust
All client assets are held in trust, individually titled, and are never commingled with KaratShield's corporate assets, used as collateral, or otherwise encumbered by KaratShield. In the event KaratShield ceases operations, stored assets remain the property of the client and are retrievable by the client or their legal estate in accordance with the applicable Storage Agreement and local law.
10. Website Use
You agree not to use this website for any unlawful purpose, to attempt unauthorized access to any part of our systems, or to interfere with the website's normal operation. Content on this website, including text, graphics, and logos, is owned by KaratShield or its licensors and may not be reproduced without permission.
11. Termination
Either party may terminate a storage relationship in accordance with the notice period specified in the applicable Storage Agreement. Upon termination, stored assets will be released to the client (or their authorized representative) following settlement of any outstanding fees and completion of standard release verification procedures.
12. Governing Law
These Terms are governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein, without regard to conflict-of-law principles, except where a client's Storage Agreement with a specific facility (Zurich, Singapore, London, or Dubai) specifies the governing law of that facility's jurisdiction.
13. Changes to These Terms
We may revise these Terms from time to time. Material changes affecting active Storage Agreements will be communicated directly to affected clients with reasonable advance notice. Continued use of our website after changes are posted constitutes acceptance of the revised Terms.
14. Contact Us
Questions about these Terms can be directed to KaratShield Secure Vault, 181 Bay St., Toronto, ON M5J 2T3, Canada, by phone at +1 647 560 0000, or by email at info@karatshieldsecurevault.com.