Terms of Service

The website thebullionnote.com and the publications, newsletters, research and related services offered through it (together, the "Service") are operated by Bullion Note, LLC, a Delaware limited liability company (the "Company," "we," "us"). By accessing the Service, subscribing to any newsletter, or purchasing any subscription, licence or research product, you agree to these Terms. If you do not agree, do not use the Service.

The Service is a financial publication. We produce and distribute written market research, analysis and commentary on gold, precious metals and related commodity markets on a regular publishing schedule.

All content is prepared and published for a general audience and is impersonal: it is produced without regard to, and without knowledge of, the investment objectives, financial situation, holdings, or particular needs of any individual subscriber or reader. Nothing in the Service is directed to, tailored for, or constitutes a recommendation to, any specific person. Your subscription creates a publisher–reader relationship only.

Nothing in the Service constitutes investment, trading, financial, legal, accounting or tax advice, or a recommendation to buy, sell, hold or otherwise transact in any asset, security, commodity, currency or financial instrument.

The Company is not, and does not hold itself out as, a registered investment adviser, commodity trading advisor, broker-dealer, financial analyst certified to advise any individual, or a dealer in precious metals, in any jurisdiction. No advisory, fiduciary, agency or client relationship is created by your use of the Service, your subscription, or any communication with us.

You are solely responsible for your own investment and business decisions. Before acting on anything you read in the Service, you should conduct your own analysis and, where appropriate, consult your own licensed financial, legal and tax advisers.

Nothing in the Service constitutes an offer to sell, or a solicitation of an offer to buy, any security, commodity interest, or other financial instrument, or an offer to buy, sell, store or broker physical precious metals, in any jurisdiction.

Markets for gold, precious metals and related instruments involve substantial risk, including the risk of significant or total loss. Prices are volatile and affected by factors that cannot be predicted. Physical metal involves additional risks including storage, transport, liquidity and counterparty risk. Past market behaviour, and past commentary, are not indicative of future results. Any opinions expressed in the Service are the author's views as at the date of publication and may change without notice.

Content in the Service draws on third-party data sources (including, without limitation, exchange, customs, industry-association and central-bank statistics) that we believe to be reliable but do not independently verify and do not control. The Service is provided "as is" and "as available." We make no warranty, express or implied, as to the accuracy, completeness, timeliness or fitness for a particular purpose of any content, and we disclaim all such warranties to the fullest extent permitted by law. We do not warrant that the Service will be uninterrupted or error-free.

Some content is free; some requires a paid subscription. Paid subscriptions are billed in advance on a recurring basis (monthly or annually, as selected at purchase) through our payment processor. Subscriptions renew automatically at the end of each billing period unless cancelled before renewal.

You may cancel at any time through your account settings or by writing to info@thebullionnote.com; cancellation takes effect at the end of the current billing period, and you retain access until then. Except where required by law, fees are non-refundable and no pro-rata refunds are given for partial periods. We may change subscription prices with notice; changes take effect at your next renewal.

We may suspend or terminate access for non-payment, chargeback abuse, or breach of these Terms.

A standard paid subscription grants a personal, non-exclusive, non-transferable licence for one named individual to access and read the content. It does not permit sharing of login credentials, redistribution, or use of the content within or on behalf of an organisation beyond the named individual.

Firms wishing to provide access to multiple users, redistribute content internally, or use content in their own materials must hold an institutional licence, agreed in writing. Commissioned research engagements are governed by a separate written engagement letter. Deliverables under any commissioned engagement consist of market analysis and research; the Company does not provide recommendations regarding any client's positions, holdings or transactions. Where an engagement letter conflicts with these Terms, the engagement letter governs for that engagement; otherwise these Terms apply.

All content in the Service, including text, analysis, data compilations, charts and design, is the property of the Company or its licensors and is protected by copyright and other intellectual-property laws. Except for the licence granted in Section 8, you may not copy, reproduce, republish, distribute, sell, scrape, systematically download, train machine-learning models on, or create derivative works from the content without our prior written consent. Brief quotation with attribution and a link, for commentary or news reporting, is permitted.

You agree not to: share or resell access; circumvent paywalls or access controls; use the Service for any unlawful purpose; misrepresent the content as advice given to you personally; or use the content to hold the Company out as your adviser, endorser or counterparty.

To the fullest extent permitted by law: (a) the Company, its members, officers and contributors shall not be liable for any indirect, incidental, consequential, special or punitive damages, or for any loss of profits, revenue, business opportunity or data, arising out of or relating to the Service or any content, even if advised of the possibility; and (b) the Company's total aggregate liability for all claims arising out of or relating to the Service shall not exceed the greater of (i) the amounts you paid to the Company for the Service in the twelve (12) months preceding the event giving rise to the claim, or (ii) one hundred U.S. dollars (US$100).

Trading and investment losses are your own. You agree that you will not hold the Company liable for any decision you make in reliance on the content.

You agree to indemnify and hold harmless the Company from claims, losses and expenses (including reasonable legal fees) arising from your breach of these Terms or your misuse of the Service or content.

We may suspend or terminate the Service, or your access to it, at any time for breach of these Terms, suspected fraud, or where required by law. Sections 2–6, 9, 11, 12 and 15 survive termination.

We may modify the Service, and may update these Terms from time to time. Material changes will be notified by email or a notice on the site, and the "Last updated" date revised. Continued use after changes take effect constitutes acceptance.

These Terms are governed by the laws of the State of Delaware, USA, without regard to conflict-of-laws principles. The state and federal courts located in Delaware shall have exclusive jurisdiction over any dispute arising out of or relating to these Terms or the Service, and each party consents to personal jurisdiction there. Nothing in this Section limits any non-waivable rights you hold as a consumer under the mandatory laws of your place of residence.

If any provision of these Terms is held unenforceable, the remainder stays in effect. These Terms, together with the Privacy Policy and any applicable engagement letter or institutional licence, are the entire agreement between you and the Company regarding the Service. We may assign these Terms in connection with a merger, acquisition or sale of assets; you may not assign them. Our failure to enforce a provision is not a waiver.

Bullion Note, LLC, a Delaware limited liability company

Email: info@thebullionnote.com