iGolder Account Agreement

By opening an account at iGolder means that you (the "User") accepts all the terms and conditions of this agreement.  You understand that this is the entire agreement between you and iGolder Ltd, and that the agreement does not need to be signed by either party to be effective and binding on both parties.  This contract applies to your use of iGolder Ltd payment service and any related product and services available through www.iGolder.com (referred to collectively as the "Service").  By registering for the Service, you appoint iGolder as your agent to process transactions on your behalf in accordance with your instructions, subject to the terms and restrictions of this Agreement.

 

iGolder reserves the right, at its sole discretion, to change, modify, add, or remove portions of these terms at any time and without notice.

 

Executive Summary

  • You agree to open only one iGolder account.  If you need multiple accounts, you have to contact us, and we will be happy to open you another account provided you qualify for multiple accounts.  Learn more...
  • You agree to provide genuine information about yourself, such as your photo ID and your address.  Any false information may result in your account termination.
  • You agree to not use iGolder for criminal activities, including any kind of theft, fraud or extortion.
  • You agree to not use iGolder for high-yield investment programs (HYIP), pyramid schemes, multi-level marketing (MLM), Autosurf or get-rich-quick programs.
  • You agree to not use iGolder for gambling or for receiving gambling remittance.
  • You agree to contact us and seek our approval before promoting any investment program.  At iGolder, we do not want to be involved in any investment scam.
  • You agree you are responsible of keeping the confidentiality of your login and password, and you are as well entirely responsible of any activity done under your account.

Acceptable Use

The iGolder platform is designed for individuals living in third-world countries where it is extremely difficult to obtain a merchant account.  We welcome all kind of businesses, as long as those businesses are not engaging in criminal activities.  As a rule of thumb, if a business activity is legal in your country, then you have our blessing.  Certain type of businesses, although legal, are excluded because they do not correlate with our mission of expanding the division of labor.  iGolder does not endorse any type of zero-sum game, such as gambling, multi-level marketing (MLM) or get-rich-quick programs.  We strongly believe all MLMs are pyramid schemes exploiting people's relationships and selling broken promises.

 

As an iGolder member, you also agree to not engage in any of the following activity:

  • Selling stolen material, stolen information or counterfeit items.
  • Selling broken promises, misleading or false advertising.
  • Selling spamming services, directly or indirectly.
  • Sending unsolicited email (aka spam) to sell your products and services through iGolder.

Account Termination Warning

iGolder is not in the business of terminating accounts without cause or without warning.  We won't put our nose in your business, however if we receive a high ratio of complaints from other members who purchased your product, we will give you a warning.  A warning is usually associated with a Demerit Point which increases the transfer fees.  If the ratio of complaints remains high and you make no effort to address the issue, then we will terminate your account (see below for details).

 

We want to have as many members as possible, so it is not in our interest to terminate any account.  We also promise to investigate the soundness and legitimacy of the complaints before issuing a warning. We take pride in offering a secure and reliable platform to our members, and want our members to know they can rely on iGolder as a pillar for their business.

 

Account Termination

Ultimately, iGolder reserves the right to reassess your membership eligibility if you fail to comply with our Account Agreement.  If you receive a notice of account termination, your gold will remain in your ownership for as long as you wish, however your account will no longer be allowed to receive any gold from other members.  You will retain the full right to exchange (sell) your gold with any other members until you have no more gold in your account.

 

We are personally against rewarding offenders for their criminal activities, and if we terminate an account regarding a criminal activity, we will not allow the criminal to keep his gold.  Instead, iGolder will dispose the stolen gold to compensate the victims of the crime.

 

iGolder considers all high-yield investment programs as outright fraud, and iGolder will terminate any such account without a warning.  We do not want to touch any HYIP with a ten-foot pole, and we are serious about it.  If we discover an HYIP, we will consider all participants as a violators of the account agreement with the intent to defraud iGolder.  The owner of the HYIP account will not be allowed to keep any gold, and the gold will not be returned to other members who colluded in the pyramid scheme.  Instead, iGolder will use the gold to hire more staff to track down high-yield investment programs and will issue a Demerit Point to all members who "invested" in the HYIP.  You are responsible of educating yourself about the definition of a High-Yield Investment Program, and if in doubt, feel free to contact us before participating in it.

 

Agency Relationship

You acknowledge that iGolder is not a bank and the website is a payment processing service rather than a banking service.  iGolder acts as a facilitator helping you to accept payments from, and making payments to third parties.  We simply act as your agent, based upon your directions made via our website, performing tasks on your behalf.

  • By receiving payments through the Service, you appoint iGolder as your agent to have the gold kept on your behalf in the pooled accounts until you further instruct iGolder regarding the disposal of your gold. iGolder will at all times hold your gold separate from its corporate gold, will not use your gold for its operating expenses, or for any other corporate purposes, and will not voluntarily make gold available to its creditors in the event of bankruptcy, or for any other purpose. 
  • If you received a notice that a payment has been sent to you through iGolder, but you have not registered for the Service, then iGolder will not become your agent and you will have no claim to the gold unless and until you register for the Service and acknowledge your acceptance of the payment.
  • By initiating a payment through the Service, you appoint iGolder to transfer the requested amount of gold from your account to the recipient that you designate.  During the transfer period, iGolder will hold the gold and you will not be able to transfer this gold to another recipient unless the transaction is rejected by the recipient.
  • Through the Service, you may provide instructions to redeem your gold in physical bullion.  The minimum bar size is 1,000 grams (1 Kg) and the maximum redemption fee is 5% of the weight of the bar.
  • Through the Service, you may also bring your physical gold for a gold bailment.

Knowing Our Customers

We believe knowing our customers is a good business policy to keep fraud at bay.  iGolder requires a scan of your picture ID and proof of address such as a utility bill. We strongly encourage you to read our entire Know Your Customers policy to learn our stance on the issue.

 

Money Laundering

iGolder is against any kind of money laundering.  Our Anti Money Laundering policy clearly states we will not assist our members doing any money laundering.

 

Criminal Activities

If iGolder reasonably suspects that a member is using iGolder to conceal the proceeds of crime or for any other criminal purpose, then iGolder reserves the right to freeze the account until the investigation is complete.  Therefore, you acknowledge iGolder may freeze your account and ask you a proof of legitimacy, such as providing invoices and the name of customers.  We have no desire to freeze any account nor investigating any business; however, we are determined to combat criminal activities. Criminality impoverishes the whole population, and when criminals earn a comfortable living, it invites others to join.  iGolder is strongly against rewarding crime.

 

 iGolder will also freeze an account, if ordered to do so by an order from a court or arbitration body of acceptable jurisdiction.

 

Right of Association

iGolder reserves the right to refuse service to particular individuals, at its sole discretion, with or without cause.

 

Your Privacy

Privacy is a hot topic these days, and we want you to feel totally comfortable using iGolder.  All your transactions at iGolder are private and confidential, however, in order to combat fraud, we have to record everything, from your IP address to complete transactions history.  We retain such information for five years in case of a criminal investigation.  We do not disclose any particulars or details unless compelled to do so by a court order of competent jurisdiction regarding a criminal activity, or we believe in good faith that the disclosure of personal information is necessary to prevent a criminal activity or to investigate violations of our Account Agreement.  In the case of a criminal investigation, the law enforcement agency must strictly abide by our criminal procedure rules.

 

We take great care of storing your private information.  We enforce physical access to our servers and files, encrypt all the data, and we authorize access to personal information only for those employees who require it to fulfill their job responsibilities.  For more details about how we protect your private information, feel free to read our Privacy Policy.

 

Account Security

iGolder implements various security measures to protect your account from unauthorized access.  Please remain vigilant; email spoofing and phishing attacks are the fastest growing form of consumer theft.  We do our best protecting your account, however you also have to do your part keeping your password private and confidential.

 

Fees

You agree to pay the transaction fee when receiving a gold payment from another member.  Your fee varies according to your overall reputation at iGolder, which ranges from 4% down to 0.1%.  The fee is always rounded up to the nearest milligram of gold.  Therefore the minimum fee for any transaction is 0.001 gr of gold.

 

iGolder reserves the right to assess and collect the following fees from your account:

  • Agio Fee: A monthly storage fee collected based on the average of your daily balance.
  • Administrative Fee: A fee collected for providing you a service such as resolving a dispute, mediation, address verification, identity verification for password recovery, etc.

Escheat

iGolder will not escheat inactive accounts. An inactive account with a balance shall remain dormant forever, other than continued assessment of fees, unless and until an heir presents valid documentation entitling the heir to inherit the account.

 

Exchange Rates and Gold Charts

iGolder provides free gold charts and an exchange rate calculator ( gr ) to convert the value of a national currency into a weight of gold.  You agree such services are strictly for your convenience making a gold payment.  You also agree the exchange rates fluctuate continuously, and by definition, cannot be accurate.

 

Alias Spoofing

You agree to not create an alias for collecting fraudulent payments. iGolder reserves the right to remove your alias if deemed too similar to another business alias name.

 

Member Reputation

You authorize iGolder to compute a reputation score from the feedback of your trading partners.  You also authorize iGolder to always display your Karma value next to your nickname / alias.

 

Member Reputation Transfer

You agree to never transfer nor sell your iGolder account to anyone.  iGolder has this policy to ensure the integrity of our reputation feedback system.  This is because your reputation belongs to you, and only you.  Someone purchasing your business must earn his reputation at iGolder like everyone else.  Any change in business ownership or management represents a different business to our members, as the performance of the new owner may be completely different from yours.

 

Reputation and Litigation

You agree to never sue another member regarding a negative feedback rating or a feedback comment.  iGolder provides a civilized mechanism to request the removal of a feedback rating.

 

Liability

  • Identity Theft.  You agree iGolder is not liable for any activity done by a person who uses your login and password without your proper authorization, or from any unauthorized person accessing your iGolder account through a computer left unattended.
  • System Availability.  The website iGolder.com, which is accessed by you across the Internet, might become inaccessible for periods of time. This could prevent you from executing a transaction which you would otherwise have made. This risk is not the responsibility of iGolder.
  • Force Majeure.  iGolder shall not be liable to you for any delay or failure by it to perform its obligations if such delay or failure arises from any unforeseeable causes beyond its reasonable control including, but not limited to, acts of God, floods, lightning, earthquakes, labor disputes, shortages, rationing, utility failures, war, terrorism, riot, embargoes, and actions of any government agency or subdivision thereof.
  • Insurance Exclusions.  As your property, your gold is subject to insurance exclusions imposed by insurance underwriters in line with established insurance practice regarding the physical protection of your gold.  These excluded risks are written on the insurance contract and include events like a nuclear war.  Such risks are not the responsibility of iGolder; they are risks you undertake with respect to your gold, except that no exclusion absolves iGolder in undertaking its correct duties of care in arranging the security of your property to levels considered commercially acceptable.
  • iGolder is liable only for losses caused by its negligence and/or willful misconduct.

Jurisdiction

This Account Agreement is governed by the laws of Belize as such laws are applied to agreements entered into and to be performed entirely within Belize by Belize residents.

 

Disclaimer

iGolder acts as a third party collector of feedback comments and ratings on its members. While we believe feedback comments present an accurate view of previous customer experience, past performance is not a guarantee of a similar result.  Reputation feedback and ratings on iGolder should be used only as part of a comprehensive due diligence program before purchasing goods and services

 

All information provided at iGolder.com are opinions only. It is not intended to serve as legal advice nor is it meant to be a substitute for the advice of a private attorney selected by you.

 

 

Since August 1st, 2013 iGolder is no longer accepting new accounts and balances can only be redeemed. During the past years, we have been recommending Bitcoin more than our own payment system. We believe in physical gold ownership, and developed iGolder as a mechanism for people to acquire physical gold by trading with one another.

Since iGolder has a central point of failure (our server may be raided by thugs wearing some kind of uniform), we feet it is safer for us to cease operations. The iGolder experiment has been personally rewarding as we met many gold enthusiasts and also learned about Bitcoin in the process. For those who have no idea what Bitcoin is, we recommend doing your own research. Bitcoin is far superior to iGolder in every way, both in privacy and security as our server is always vulnerable to confiscation. Bitcoin is a communication protocol with a built-in "escrow service" capable of protecting both the buyer and the seller, rendering our Safetransit completely redundant. To learn more about the Bitcoin protocol and its feature, please watch "http://www.youtube.com/watch?v=mD4L7xDNCmA (Bitcoin 2012 London: Mike Hearn).

For those having gold in their iGolder account, we will ship the physical metal to anyone having more than 1 ounce of gold, assuming the owner is willing to assume the shipping costs. For smaller quantities, we offer to settle in Bitcoin, however we will also settle with any other reasonable payment system. We will give everyone at least two full years (until 2016) to contact us to claim their gold. After that period, any unclaimed gold will go to fund an economic development project in Honduras helping local people to become entrepreneurs.

We sincerely wish you the best in life and hope to keep in contact with you.

Yours in liberty,
The iGolder Team.


Update 2014: Since we announced we no longer accept gold transfers, we have received countless emails asking to keep the free gold charts and the PGP encryption tools. We plan to keep running the domain iGolder.com for both the gold charts and the encryption tools. Better, we are developing state of the art open-source software for a secure decentralized social network with a built-in wallet. We will announce when we have a product ready for use. Stay tuned!