Our Market Loss Policy
When purchasing from Great American Mint and Refinery, Inc., once we have confirmed your transaction, the price is locked in for you. In case of cancellation or return of product, you bear the risk of any market loss that may have occurred. Any deficit between the price at which we sold to you and the offsetting GRAMMCO spot purchase price and/or prices for the commodity, is your responsibility.
Any market gain on cancellations shall remain the property of GRAMMCO.
When selling to GRAMMCO, once we have issued a confirmation number, the price is locked in for you. Any deficit between the price at which we bought from you and the offsetting purchase price and/or prices, is your responsibility if we do not receive your items or you cancel the order. Any market gain on cancellations shall remain the property of GRAMMCO.
GRAMMCO reserves the right to secure this market risk through a credit card or down payment. GRAMMCO may put a hold on funds on your credit card or on your account to reasonably cover our Market Loss exposure. GRAMMCO may at its discretion charge the entire Market Loss and Cancellation Fee on your credit card or deduct from your account (a) upon GRAMMCO issuing a cancellation notice (b) if we do not receive your payment within the required time frame for the payment type you elected (c) if your payment is rejected by our bank for whatever reason (d) if we do not receive the merchandise you sold to us within the required timeframe.
If you are returning items to GRAMMCO, the Market Loss and Cancellation Fee will be deducted from any refund we will be issuing to you.