Refund during crisis?

[Chronix]

Does anyone have orders delayed that are made before the crash? 

I have and order, but of course it is delayed and I am wondering if I have a right to ask for a refund? 

Chronix

[Tattoedamat]

I can't see why not if it's a reputable dealer but the question is why. If you brought recently and been charged it would been at lowest prices in a decade. I would wait for the delivery.

If money is that tight that you need it back maybe you've over stretched?

[HawkHybrid]

probably not(specific to each contract).

the reason is that your order was made at a higher spot price.

it doesn't make sense for dealers to take a hit every time spot

goes down. depending on the model they use, it might be

argued that the delay was out of their control. (source to

order).

bairds has a deposit system specifically to stop the abuse of

cancelling orders due to spot price drops.

 

HH

[Chronix]

It's not that the money is tight, it's the anxiety of the situation. I dont know if a certain dealer can close the shop and bye-bye money. 

[daca]

34 minutes ago, Chronix said:

It's not that the money is tight, it's the anxiety of the situation. I dont know if a certain dealer can close the shop and bye-bye money. 

It all depends of the type of dealer are you taking about, serious dealers will not close down shop. They are complaining about lack of stock (to cover all the orders) not about the lack or orders (money coming in).

 

 

43 minutes ago, zhoutonged said:

Distance selling regulations don't apply to PMs for the exact reason you want a refund. I'm expect your order could be cancelled but you most probably would get a percentage refund based on current spot prices.

Indeed.

From a German dealer website

"Cancellation policy

In accordance with European law, the United Kingdom’s Financial Services’ (Distance Marketing) Regulations 2004 and the statutory rules contained in § 312g paragraph 2 No. 8 of the German Civil Code (BGB) there is no statutory right to return or cancel an order for Gold, Silver, Platinum, Palladium or Rhodium once placed due to the fact that the products are subject to price fluctuations in the financial markets that are beyond our control.

You can however enquire about a termination of your order prior to dispatch or collection. If we consent to terminating your order, you will need to compensate any possible fall in the underlying metal price and our loss in profit.

For items that are not subject to price fluctuations in the financial markets (such as coin boxes and other accessories) you have the right to cancel your order within fourteen days without giving a reason".

 

_________________________________________________

From another dealer:

"Bullion/Coin canceled orders are subject to a 5% fee plus applicable market loss.".

 

 

[Tattoedamat]

2 hours ago, Chronix said:

It's not that the money is tight, it's the anxiety of the situation. I dont know if a certain dealer can close the shop and bye-bye money. 

Put it this way if it's that sort of dealer I wouldn't have spent my hard earned with them in first place. There is a list of trusted sovereign dealers listed on here. Can think of numerous members I would also trust impeccably no matter how large the order.