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<p>[QUOTE=&quot;NPCoin, post: 597125, member: 5629&quot;]From what I understand of your concerns is:&nbsp;&nbsp; 1) If Apmex takes the initiative to cancel my order, will I be responsible for their &quot;recovery fees&quot;,&nbsp; and 2) If you paid for the bullion, the payment was accepted, and the payment was processed, are you the legal owner of said bullion?</p><p><br /></p><p>Before going into any of that, you should understand that if you have any problems with any entity on the internet, through mail order, or through a brick and mortar establishment (and not just with coins), always try to verify information with the entity in question first.&nbsp; Request written clarification.&nbsp; If the entity refuses to give written clarification, then document the discussion for your records in case you need a memory jogger later for legal reasons.&nbsp; In other words, you should bring this concern directly to Apmex first.</p><p><br /></p><p>Now, getting down the the grits of your contract with them, wording is one of the two prime factors of interpreting a contract.&nbsp; The other prime factor is intent.&nbsp; It&#039;s the intent that you question here.&nbsp; The wording most clearly states:</p><p><br /></p><p><br /></p><p><br /></p><p>Note that it does not state if &quot;you cancel or return&quot; but &quot;if your items(s) <b>IS</b> cancelled or returned.&quot;&nbsp; In a contract, you must be extremely precise and exact in your wording, because the intent is not always clear.&nbsp; By wording alone, yes, you will be responsible to pay the market loss even if <b>THEY</b> initiate the cancellation.&nbsp; For public relations purposes, they very well may not implement the policy against you, but the wording keeps that door wide open.</p><p><br /></p><p>This is where intent comes into play.&nbsp; Yet, since their Market Loss Policy does not reveal intent, we need to look at other aspects of the total order contract you have with them.&nbsp; Reference their <a href="http://www.apmex.com/OrderingPolicy/Default.aspx" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.apmex.com/OrderingPolicy/Default.aspx" rel="nofollow">Order Policies and Procedures</a>.</p><p><br /></p><p>Under <i>Price Confirmations and Binding Agreement</i> they reference when buying from them.&nbsp; In this section, there is absolutely no mention of cancellation.&nbsp; This absence reserves the right of both parties to cancel the contract in accordance with whatever further terms are outlined later.&nbsp; This absence also makes the &quot;lock-in&quot; subject to any further terms outlined later in the contract.</p><p><br /></p><p>Now, we look under <i>Payment Instructions</i>.&nbsp; There are two instances in which Apmex reserves its right to cancel the order:&nbsp; 1) The payment was not received in the manner outlined (just cause), and 2) &quot;any order deemed questionable or of significant risk to APMEX regardless of payment method and price confirmation.&quot;</p><p><br /></p><p>That second right reservation is where the problem comes in.&nbsp; The phrase &quot;of significant risk&quot; is a rather arbitrary term, especially when only one party has the absolute power in determining what this phrase interprets as.&nbsp; Furthermore, realize that this contract right is regardless of payment method and price confirmation.&nbsp; Basically, you can correlate this to &quot;at any time&quot;.</p><p><br /></p><p>Now we finally come to the most important part of the contract, <i>Cancellation of Orders</i>.&nbsp; Here we find the following:</p><p><br /></p><p><br /></p><p><br /></p><p>Here we have intent clarification.&nbsp; Their intent is not to enter into an order agreement, accepting the risks of the market in doing so, just to have the order canceled.&nbsp; This is very important, because a (legal) contract (one that may be upheld as valid) must hold benefit to BOTH parties involved.&nbsp; Contracts (or clauses within contracts) that are not mutually beneficial are general found to be invalid.</p><p><br /></p><p>So, the intent of entering the agreement for Apmex may also be considered mutual to the agreeing party.&nbsp; You also do not intend to enter the contract for the purpose of having it canceled.&nbsp; As such, it could also be argued that any other clause in the contract that appears to only benefit one side of the parties may also be construed to be mutually beneficial in a court of law.</p><p><br /></p><p>Thus, I would really doubt that Apmex would in any way attempt to cancel an order, then try to make you pay for it!&nbsp; As to the question of ownership, when you perform on payment of the item, you have equitable title.&nbsp; It depends on each State whether equitable title conveys what you would normally term as &quot;ownership&quot;.&nbsp; In such States where this is not the case, Apmex could be found to have breached contract under the Universal Commercial Code, but again, this depends on your State and their implementation of the UCC.</p><p><br /></p><p>If you are investing, I would urge you to consult a local adviser in your area that you can go through a lot of this information with prior to making purchase choices.&nbsp; Remember, that most purchases you make online will come with an accompanying purchase contract.&nbsp; Even when you go to the brick and mortar stores, their policies are conspicuously posted in various places binding you to a specific contract (for returns, returned payments, etc) that you are legally bound to by entering into a purchase agreement with them.</p><p><br /></p><p>As far as your concerns overall, I believe you should not have any worries, as there is too much legal liability on the part of Apmex if they do breach your purchase contract.&nbsp; Furthermore, their reputation has not as yet revealed any such activities on their part, that I can recall, to draw any concerns at this time.&nbsp; But, again, if you are buying $1000 bags at a time, spending a bit of money on an adviser is not really a bad idea.[/QUOTE]</p><p><br /></p>

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