This Agreement is entered into between Client(s) and Bedford Investment Partners LLC, (Bedford Investment Partners ) for the purchase, sale and storage of precious metals, independently graded coins, rare currency and other products which Bedford Investment Partners offers or may offer in the future. This Agreement applies to all transactions between Bedford Investment Partners and Client entered on or after January 1st, 2013 and all products stored through Bedford Investment Partners.
 
A. PLACING AN ORDER
  1. Client may place an order with Bedford Investment Partners by telephone or in person. Client's telephonic order may be confirmed during a tape-recorded confirmation with a Client Services Representative to ensure the details of the order are correct and will include the price, quantity, method of payment and other material terms of the order (orders below $1,000 will not be subject to taped confirmation). 
  2. Bedford Investment Partners will send a written trade confirmation of each order. Client will have ten (10) calendar days from the date of the written trade confirmation to report any inaccuracies or discrepancies in the order to Client's Account Executive or Bedford Investment Partners 's Client Relations Department. If the Client does not report inaccuracies or discrepancies regarding the written trade confirmation within this time period, Client waives any objections Client may have.
  3. An order is only finalized when a signed Account Agreement is on file with Bedford Investment Partners and any required signed state addendum to the written trade confirmation is received.
 
B. DELIVERIES
  1. Bedford Investment Partners will deliver Client's order to Client's shipping address within twenty-eight (28) calendar days (or such lesser period as required by Client's state of residence) of receipt of good funds. If Client requests delayed delivery, Bedford Investment Partners will deliver Client's order to storage pending delivery to Client. See Section H ("Storage"), below.
  2. Bedford Investment Partners may charge a shipping and handling fee, including a fee for shipments to third party IRA custodians. Any such fee will be disclosed at the time of the order.
  3. All packages shipped to Client are insured (shipments may be self-insured by Bedford Investment Partners ). If a shipment is lost or damaged during transit to Client's shipping address, at Bedford Investment Partners 's option, Bedford Investment Partners will replace the items or refund Client's purchase price. Bedford Investment Partners bears the risk of loss until the shipment is delivered to Client's shipping address subject to the following: (a) Any variance in Client's order, including discrepancies or defects regarding the products delivered, must be reported to Bedford Investment Partners 's Client Relations Department within five (5) calendar days of receipt of shipment to make a claim of loss; (b) Client must retain all original packing materials intact; and (c) Client must cooperate with Bedford Investment Partners , including providing supporting declarations regarding any loss.
 
C. REFUNDS /RETURNS
  1. Bedford Investment Partners provides all first-time clients with the right to cancel their first order within seven (7) calendar days from the date of order. (This cancellation privilege does not apply to orders for 90% silver dimes or quarters, one-ounce or larger bullion bars, and one-ounce bullion coins unless Client's state of residence provides otherwise.) By way of example, if Client's first order is placed on April 1, Client may cancel the order up to and including April 8. Notice of cancellation may be provided by speaking directly with an Account Executive; calling Client Relations at 888-859-8959; via U.S. Mail at 282 Katonah Ave #201, Katonah New York 10536; facsimile at 888-831-6448; or email at compliance@Bedford Investment Partners.com. All notices of cancellation must be provided no later than the last day of the refund period. A full list of special state refund provisions is set forth at the end of this Agreement. Second and subsequent orders are final upon taped confirmation by a Bedford Investment Partners Client Services Representative and are not subject to cancellation unless Client's state of residence provides otherwise as set forth at the end of this Agreement. Other disclosures regarding special state refund provisions will be provided as required by state law.
 
D. Price Guarantee Program
  1. Bedford Investment Partners offers "price protection" on certain qualifying full-priced orders of coins and bars with Bedford Investment Partners 's Price Guarantee Program (PGP). Bedford Investment Partners 's PGP does not apply to 90% silver dimes and quarters, one-ounce and larger bullion bars, and one-ounce bullion coins although Bedford Investment Partners may periodically include such coins and bars within its Price Guarantee Program.
  2. Qualifying PGP orders will be identified during the telephonic confirmation of Client's order.
  3. Under Bedford Investment Partners 's PGP, if Bedford Investment Partners 's ask (i.e., selling) price for qualifying coins is reduced by Bedford Investment Partners within seven (7) calendar days of the date of order, Client may contact Bedford Investment Partners and request that his or her order of these coins be repriced at the lower price (subject to Section D.4 below). By way of example, if Client's qualifying order is placed on April 1, Client may reprice that order through April 8. Bedford Investment Partners may, from time to time, offer certain specials which extend the time within which Client may contact Bedford Investment Partners to request that his or her order be repriced. That extended period will be identified during the telephonic confirmation of the Client's order.
  4. Client may not exercise his or her right to reprice until Bedford Investment Partners receives payment, a signed Account Agreement has been received by Bedford Investment Partners and any required state signed written Addendum to Trade Confirmation is received.
  5. Client may only ask Bedford Investment Partners to reprice the order once during this seven-day time period. It is Client's obligation to follow price changes for their orders; Bedford Investment Partners will not contact Client about changes in prices.
  6. To reprice an order, Client must take the following steps: (1) Repricing requests must be made during Bedford Investment Partners 's regular business hours (excluding holidays); (2) Client must contact his or her Account Executive by telephone to reprice the order. If the Account Executive is not available, Client should ask for the Account Executive's backup Account Executive. If the back-up Account Executive is unavailable, Client may place the reprice request with an Account Executive Manager or Client Services Supervisor; (3) Client's repriced order must be confirmed in a confirmation by a Client Services Representative.
  7. Client will receive the selling price (the "ask" price) that is in effect at the time of repricing. The difference between the original purchase price of the order and the repriced amount must be applied, on a onetime basis, at the time of repricing to purchase additional coins carrying the same spread as the coins originally purchased. After the one-time repricing, any balance shall be extinguished.
  8. Upon repricing, Client's order is final unless the Client's state of residence provides a right to cancel.
  9. Bedford Investment Partners reserves the right to modify or discontinue its PGP program at any time, including modifying the products available for the PGP program and/or the time during which Client may reprice an order.
 
E. PAYMENTS, SECURITY AGREEMENT AND LIQUIDATIONS
  1. Client agrees to pay for all precious metals, coins, currency and other items ordered and all charges for orders, storage, delivery and other services. Client will also pay any taxes, assessments or other charges imposed by a government concerning Client's metals, coins, currency, or any sales, use or similar tax associated with delivery, now or in the future.
  2. If Bedford Investment Partners does not receive full payment in good funds for precious metals, coins or other numismatic/collectible items within five (5) calendar days of Client placing the order, Bedford Investment Partners may, but is not required to, dispose of the metals, coins or other numismatic/collectible items for Client's account, without notice unless required by law, and charge Client for any loss Bedford Investment Partners incurs. Such sales may be at a wholesale or auction price which may be below Bedford Investment Partners 's sell or buyback prices. In addition, Bedford Investment Partners shall have all other rights and remedies available under the law.
  3. CLIENT GRANTS A LIEN AND SECURITY INTEREST IN CLIENT'S PROPERTY AND FUNDS IN BEDFORD INVESTMENT PARTNERS 'S POSSESSION OR CONTROL, NOW OR IN THE FUTURE, AS COLLATERAL FOR ANY AMOUNTS OWED UNDER THIS AGREEMENT OR OTHERWISE, NOW OR IN THE FUTURE. Client agrees to execute such additional documents as may be necessary to perfect or evidence this security interest. If Client does not pay such amounts when due, Bedford Investment Partners may, but is not required to, offset these amounts against Client's funds or property or may sell any or all such property without notice as permitted by law in any public or private sale Bedford Investment Partners chooses. If the proceeds of such sale and/or the amounts offset are not sufficient to repay the amount Client owes, Client will be liable for any deficiency.
 
F. LIQUIDATIONS
  1. When Client sells precious metals, coins or numismatic/collectible items originally acquired from Bedford Investment Partners , Bedford Investment Partners will purchase the items at its current buyback price (the "bid" price). Items not stored through Bedford Investment Partners must be shipped to Bedford Investment Partners at Client's expense and verified by Bedford Investment Partners as to quantity and condition prior to liquidation. Bedford Investment Partners will charge a 1% liquidation fee on the liquidation price. The minimum liquidation fee is $25. Bedford Investment Partners will deduct all amounts owed to Bedford Investment Partners with the balance paid by company check payable to Client's account title of record. Payment will be sent within three (3) business days of liquidation to Client's account address.
  2. The law prohibits Bedford Investment Partners from guaranteeing to repurchase the items it sells, although Bedford Investment Partners has historically made buy-sell markets in bullion and rare coins it offers. Therefore, Bedford Investment Partners 's buyback policy is not a guarantee and is subject to change without notice.
 
G. ACCOUNT MATTERS
  1. Client represents that Client is of legal age and capacity to enter into this Agreement. If Client is other than an individual, Client represents that he or she is fully authorized to act on the owner's behalf.
  2. Client represents that all of Client's transactions shall be for investment or other commercial purposes and not for any personal, family, household or other consumer purposes.
  3. If this Agreement is signed by or on behalf of more than one person (including an owner by virtue of community property interest or other operation of law), Client authorizes Bedford Investment Partners to follow the instructions of any signer without notice to or consent from the others or any non-signer. If conflicting instructions are received, Bedford Investment Partners will follow the first. If one signer becomes disabled or incompetent, this Agreement survives and Bedford Investment Partners may rely on instructions of any other signer. Client will notify Bedford Investment Partners promptly of the death of any signer by providing a certified death certificate. Upon proof of death, Bedford Investment Partners will treat the account balance as belonging solely to the estate or lawful heirs. In all cases, a decedent's estate will remain fully liable for all obligations incurred up to the day of death and the estate shall be liable for all obligations incurred thereafter. Client agrees to hold Bedford Investment Partners harmless and defend against any loss, liability, cost or expense, including reasonable attorneys' fees, resulting from any action taken by Bedford Investment Partners in reliance upon this paragraph. Notwithstanding the above, Bedford Investment Partners may require such papers, additional consents, restrict activity in the account and/or retain all or part of the account balance as Bedford Investment Partners deems advisable at Bedford Investment Partners 's sole discretion.
  4. Client understands and agrees that every telephone conversation between Client and Bedford Investment Partners - whether Client places a call to Bedford Investment Partners or a Bedford Investment Partners representative calls Client - is subject to monitoring and/or recording. Client hereby agrees and consents to have Client's calls with any Bedford Investment Partners representative monitored and/or recorded without further notice or the requirement of additional consent or agreement from Client. Client consents to monitoring and/or recording of Client's telephone conversations with any Bedford Investment Partners representative by appropriate Bedford Investment Partners personnel and authorized outside third-party monitors. Client acknowledges that Client does not have a reasonable expectation of privacy during any of Client's telephone conversations with any Bedford Investment Partners representative. Client further understands and agrees, with respect to the potential monitoring and/or recording of all of Client's telephone calls, that Client expressly waives the right to assert at any time that any conversations between Client and any Bedford Investment Partners representative are or were confidential or private. Unless otherwise agreed by Bedford Investment Partners in writing, Bedford Investment Partners does not consent to the recording of telephone conversations by Client or any third party. Client understands that not all telephone lines or calls are recorded and Bedford Investment Partners does not guarantee that any recordings of any particular telephone calls will be retained or be capable of being retrieved.
 
H. STORAGE
  1. At Client's request, Bedford Investment Partners will store Client's precious metals or coins with independent depositories selected by Bedford Investment Partners . Storage is not available to Clients who reside in certain states. Bedford Investment Partners may change depositories without prior notice.
  2. Bedford Investment Partners will deliver precious metals and coins selected for storage within twenty-eight (28) calendar days of receiving payment of good funds (unless state law requires a different delivery period). Bedford Investment Partners may store Client's precious metals and/or coins on a non-segregated, bulk basis. When Client chooses to store precious metals and/or coins through Bedford Investment Partners , Client understands that absent an express written agreement to the contrary, Client is not entitled to receive from Bedford Investment Partners any specific item of precious metals and/or a specific coin. Rather, Client is entitled to receive only the same quantity, grade and type of precious metals and/or coins stored through Bedford Investment Partners as specified on Bedford Investment Partners 's written confirmation.
  3. Bedford Investment Partners will use commercially reasonable efforts to store Client's metals or coins in a way that is free from the claims of its creditors, the depositories (except as to storage charges) and the depositories' creditors.
  4. Bedford Investment Partners will, or will cause the depositories to, insure Client's metals, coins and currency against physical loss, damage or disappearance. Limitations and exclusions apply to such insurance proceeds. Bedford Investment Partners 's liability to Client for any physical loss, damage or disappearance of items held in storage shall be limited to available insurance proceeds and under no circumstances shall exceed Bedford Investment Partners 's bid price for such items at the time of loss.
  5. 5Storage fees are calculated by multiplying 0.0366 by the "ask" price of Client's holdings as of the date of the storage statement (the buyback price for holdings is less than the ask price). Storage fees are charged in advance of each six-month storage period and are payable upon receipt of the statement. The minimum storage fee is $15.00. Bedford Investment Partners may increase or decrease storage fees upon thirty (30) calendar days written notice to Client. Storage fees are non-refundable.
  6. At Client's written request, Bedford Investment Partners will ship stored metals within seven (7) business days of Client's request for delivery and payment of shipping charges and conversion fees, if applicable. (This delivery period may be extended based upon market conditions.) Stored silver and gold bullion are subject to conversion fees to convert the unallocated bullion into deliverable bars, rounds or coins (coin and bar types are subject to existing inventory). The fees for converting the product into a deliverable form is the difference between the stored bullion’s total current bid price and the deliverable product’s total current ask price. By way of example, if the stored bullion’s total current bid price equals $10,000 and the total current ask price of the deliverable bars equals $11,000, the conversion fee equals $1,000. Requested bar types and sizes are subject to availability.
  7. Client will not grant or permit to exist any lien, security interest or encumbrance of any kind by a third party on stored precious metals or coins. Client acknowledges that the ownership of precious metals or coins is non-negotiable and can be transferred only on Bedford Investment Partners 's books. Any assignment or transfer of stored metals and coins must comply with Bedford Investment Partners 's procedures regarding the transfer of accounts and applicable law.
 
I. DISCLAIMER OF WARRANTIES
  1. Grades and descriptions of coins, precious metals and currency are opinions, not statements of fact or guaranties, and are based on standards and interpretations that can and do change over time. Bedford Investment Partners uses its own good faith contemporary grading standards and interpretations to grade coins or relies upon the opinions of grading services such as Professional Coin Grading Service ("PCGS") and Numismatic Guaranty Corporation ("NGC"). Bedford Investment Partners does not guarantee that the coins it sells will achieve the same grades from Bedford Investment Partners , PCGS, NGC or any other grading service in the future. Bedford Investment Partners guarantees that the precious metals and other items it sells are genuine. BEDFORD INVESTMENT PARTNERS EXPRESSLY DISCLAIMS ANY OTHER WARRANTIES WITH RESPECT TO PRECIOUS METALS, COINS, CURRENCY AND NUMISMATIC/COLLECTIBLE ITEMS, EXPRESS OR IMPLIED, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
  2. CLIENT ACKNOWLEDGES AND AGREES THAT NO WARRANTIES OR GUARANTIES HAVE BEEN MADE TO CLIENT REGARDING ANY OF THE PRECIOUS METALS, COINS, CURRENCY OR OTHER NUMISMATIC/COLLECTIBLE ITEMS PURCHASED FROM BEDFORD INVESTMENT PARTNERS , INCLUDING BUT NOT LIMITED TO FUTURE VALUE. CLIENT AGREES TO PROMPTLY NOTIFY BEDFORD INVESTMENT PARTNERS 'S CLIENT RELATIONS DEPARTMENT IN WRITING IF ANYONE AT BEDFORD INVESTMENT PARTNERS SUGGESTS A GUARANTY OF PROFITS OR ABSENCE OF LOSSES, OR MAKES ANY STATEMENT OR REPRESENTATION THAT IS INCONSISTENT WITH THE TERMS IN THIS AGREEMENT OR COIN FACTS FOR INVESTORS AND COLLECTORS TO CONSIDER. CLIENT FURTHER ACKNOWLEDGES AND AGREES THAT CLIENT HAS CONDUCTED AND WILL CONDUCT HIS OR HER OWN RESEARCH AND ANALYSIS REGARDING PRECIOUS METALS, COINS, CURRENCY AND OTHER NUMISMATIC/COLLECTIBLE ITEMS THAT CLIENT MAY PURCHASE FROM BEDFORD INVESTMENT PARTNERS AND WILL NOT RELY UPON OR OTHERWISE CLAIM THAT ANY WARRANTIES, REPRESENTATIONS OR GUARANTIES HAVE BEEN MADE BY BEDFORD INVESTMENT PARTNERS CONCERNING THE FUTURE VALUE OF THE PRECIOUS METALS, COINS, CURRENCY OR OTHER NUMISMATIC/COLLECTIBLE ITEMS THAT CLIENT MAY PURCHASE FROM BEDFORD INVESTMENT PARTNERS.
 
J. IRAs
  1. Select bullion bars, bullion coins and proof coins may be held in Individual Retirement Accounts ("IRA"). Client is aware that, with the exception of one-ounce bullion coins and bullion bars of one ounce or larger, all bars and coins carry a spread of 1% to 28%. See Section K ("Spreads/Prices") below for an explanation of spreads.
  2. Client understands that proof coins are numismatic coins whose value may be affected by factors other than increases or decreases in spot metal prices. Client further understands that proof coins carry a numismatic premium above their precious metal content.
  3. Client understands that Bedford Investment Partners does not recommend that clients invest more than 5%-20% of their retirement assets/portfolio in precious metals. Client is solely responsible for determining the proper percentage of precious metals acquired in an IRA and will notify Bedford Investment Partners , in writing, if he or she intends to invest more than 20% of his or her retirement assets/portfolio prior to finalizing any order. 
  4. Bedford Investment Partners may provide information about companies which provide trustee and custodian services for IRAs as a convenience to its Clients. Bedford Investment Partners is independent from, and not affiliated with, any of the companies which may provide those services. It is Client's responsibility to independently select the IRA service company suitable for Client. Bedford Investment Partners shall have no liability or responsibility for any loss or damage resulting from his or her dealings with that IRA service company.
  5. Tax laws are complex and may change at any time. Client agrees to consult with his or her tax advisor about any questions regarding adding precious metals to an IRA including suitability, amounts and tax-related issues. Bedford Investment Partners employees are not authorized to and may not provide tax advice.
 
K. SPREADS/PRICES
  1. There is a price differential or "spread", between Bedford Investment Partners 's selling price (the "ask" price) and Bedford Investment Partners 's buyback price (the "bid" price). Bedford Investment Partners 's "bid" is the price it pays to Clients for a product. Bedford Investment Partners 's "ask" is the price it charges Clients for a product. The spread is calculated by subtracting the bid price from the ask price and then dividing the difference by the ask price ((Ask – Bid)/Ask).
  2. To illustrate how a spread works, consider the following example. If the spread for a coin is 28% and Bedford Investment Partners 's ask/selling price is $500 for the coin, then Bedford Investment Partners 's bid/buyback price is $360. In this example, the bid price of the coin would have to appreciate $140 ($500-$360), or 38.88%, before breaking even (excluding liquidation fees and other costs). Prices may fluctuate throughout the day depending on the product. Pricing is based on many factors including Bedford Investment Partners 's assessment of world market conditions, overhead and other considerations.
  3. Bedford Investment Partners 's current spread on 90% silver dimes and quarters, bullion bars of one ounce or larger, and one-ounce bullion coins is 13%. The bid price of a coin or bar with a 13% spread must increase approximately 15% before breaking even (this amount does not include liquidation fees and other costs). All other bars and coins have a current spread of 28%. The bid price of a coin or bar with a 28% spread must increase approximately 38.88% before breaking even (this amount does not include liquidation fees and other costs). If Bedford Investment Partners 's spreads or the percentage that a bid price must increase for the coin or bar to break even differs from these stated amounts, Bedford Investment Partners shall disclose such differences at the time of order.
  4. Coins generally have a premium above their precious metal value with bullion coins usually having the lowest premiums and semi-numismatic and numismatic coins having higher premiums. Certain exceptions may apply. Premiums may increase or decrease based upon current market conditions such as supply and demand. Changes in premiums may affect a coin's pricing beyond changes in spot prices.
  5. Bedford Investment Partners 's minimum buy/ sell/ liquidation/ delivery fee is currently $25 per transaction.
 
L. Considerations For Investors
  1. Client understands that investment in precious metals, coins and other numismatic/collectible items is speculative, unregulated and volatile and that prices may rise and fall over time. Profit can only be made if prices rise over the investment period in an amount sufficient to overcome the spread as set forth above and costs such as liquidation fees. There may still be a loss despite favorable price movement. Metals, coins and other numismatic/collectible items do not provide interest or current income.
  2. Bedford Investment Partners cannot guarantee the existence of a viable precious metals, coin market or currency market and is not obligated to repurchase any items it sells.
  3. Bedford Investment Partners generally classifies coins as bullion, semi-numismatic and numismatic. Numismatics are coins whose value is principally based upon such factors as condition, grade, scarcity and demand, rather than their precious metal content. Semi-numismatics are coins containing precious metals that generally move up and down with the spot price of the precious metal, but also contain additional value above their precious metal content. There is a premium for these coins based upon such factors as supply and demand. Bullion may come in bar or coin form. Its value is principally based upon its precious metal content plus the cost of fabrication. The value of a bullion bar or coin rises and falls with the spot price of the precious metal. Some coins may fall within more than one category depending on their specific grade or condition. Other dealers and organizations may define these terms or classify these coins differently.
  4. Client represents that he or she has read and understands Bedford Investment Partners 's risk disclosure which provides additional information about pricing as well as information about the risks of buying and selling precious metals, rare coins and rare currency. This page is updated periodically and it is Client's responsibility to remain up-to-date by requesting a copy or reviewing the most recent version at Bedford Investment Partners 's website, www.Bedford Investment Partners .com.
  5. Bedford Investment Partners employees may from time to time discuss the general direction of various financial markets. Neither Bedford Investment Partners nor its representatives can guarantee any market movement.
  6. Bedford Investment Partners employees are not licensed as investment advisors and they are not making any specific recommendations concerning stocks or any other form of investment. Bedford Investment Partners and its Account Executives are not agents for Client, have different financial interests and incentives from Client and owe no fiduciary duty to Client. Account Executives are generally commissioned salespeople whose commissions are greatest on products with a 28% spread and lowest on all other products. They may receive cash and other undisclosed compensation from Bedford Investment Partners when selling specific coin or currency products. Client will check with a licensed professional with expertise in a particular market before making a decision to buy or sell.
  7. Client understands that Bedford Investment Partners believes coins and bullion are appropriate for 5% to 20% of an investment portfolio although certain individuals or organizations might recommend a different percentage. Client will independently determine what percentage is appropriate for him or her based upon Client's individual circumstances. Client will notify Bedford Investment Partners 's Director of Client Relations in writing if Client chooses to invest more than 20% of his or her investment portfolio in precious metals and/or rare coins or currency. 
  8. What is suitable for one Client with a given financial means may not be suitable for the goals or emotional makeup of a different Client of the same means. Before Client chooses to buy or sell, Client should determine his or her ability to understand the transaction and to meet all financial commitments to be made.
  9. Bedford Investment Partners does not offer advice on the tax treatment of purchasing, selling or borrowing precious metals, rare coins and rare currency. Client must consult with his or her tax advisor regarding such matters. Bedford Investment Partners does not sell any precious metals or numismatic product which is exempt from applicable taxes.
 
M. OTHER TERMS AND CONDITIONS
  1. This Agreement is the entire agreement between Bedford Investment Partners and Client. There are no representations, oral or written, other than those herein.
  2. Bedford Investment Partners shall not be liable for any loss due to circumstances beyond Bedford Investment Partners 's direct control, or any delay or default in performing under this Agreement if such delay or default is caused by conditions beyond its control including, but not limited to, Acts of God, government restrictions or seizure, change in market conditions, wars, insurrections and/or any other cause beyond Bedford Investment Partners 's reasonable control.
  3. Bedford Investment Partners 's failure to exercise Bedford Investment Partners 's rights on one or more occasions will not be deemed a waiver of such rights at a later time.
  4. This Agreement shall inure to the benefit of, and be binding on, Client's personal representatives, beneficiaries, executors, successors and assigns. However, Client cannot assign or transfer his or her rights under this Agreement except as set forth above. Assignments in violation of this Agreement are void.
  5. If any provision of this Agreement is or becomes inconsistent with applicable law, such provision shall be severed or modified in accordance with such law. All other provisions shall remain in effect.
  6. THE FORMATION OF THIS AGREEMENT CONSTITUTES THE MAKING OF THIS CONTRACT WITHIN WESTCHESTER COUNTY, NEW YORK, REGARDLESS OF THE MANNER, TIMING OR LOCATION OF DELIVERY OF RECEIPT OF ACCEPTANCE OF THIS AGREEMENT. THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF CALIFORNIA EXCLUDING CONFLICT OF LAW PRINCIPLES. SUBJECT TO THE ARBITRATION AGREEMENT IN SECTION N, ANY LEGAL ACTION OR PROCEEDING BETWEEN CLIENT AND BEDFORD INVESTMENT PARTNERS OR WITH RESPECT TO THIS AGREEMENT OR ANY TRANSACTION HEREUNDER SHALL BE BROUGHT EXCLUSIVELY IN THE COURTS OF THE STATE OF NEW YORK LOCATED IN THE COUNTY OF WESTCHESTER, OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK AND, BY ACCEPTANCE OF THIS AGREEMENT, CLIENT AND BEDFORD INVESTMENT PARTNERS HEREBY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THESE COURTS. THE PARTIES IRREVOCABLY WAIVE ANY OBJECTION, INCLUDING ANY OBJECTION TO THE VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, THAT ANY OF THEM MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING IN SUCH JURISDICTIONS.
N. ARBITRATION AGREEMENT
  1. THE PARTIES AGREE TO ARBITRATE, IN A FINAL AND BINDING MANNER, ALL CONTROVERSIES BETWEEN CLIENT AND BEDFORD INVESTMENT PARTNERS INCLUDING ANY OF BEDFORD INVESTMENT PARTNERS 'S CURRENT OR FORMER OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS ARISING OUT OF OR RELATING IN ANY WAY TO ANY TRANSACTION WITH BEDFORD INVESTMENT PARTNERS , CLIENT'S ACCOUNT, ANY ACCOUNT THAT CLIENT CAUSES TO BE OPENED IN THE FUTURE, OR ANY SERVICE PROVIDED BY BEDFORD INVESTMENT PARTNERS , INCLUDING BUT NOT LIMITED TO TRANSACTIONS OF ANY KIND MADE ON CLIENT'S BEHALF. THE PARTIES AGREE THAT ALL CLAIMS SHALL BE BROUGHT IN THE PARTY'S INDIVIDUAL CAPACITY AND NOT AS A CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING.
  2. THE PARTIES AGREE THAT THE ARBITRATOR WILL DETERMINE ANY AND ALL DISPUTES ARISING OUT OF OR RELATING TO ANY BREACH, TERMINATION, ENFORCEMENT, INTERPRETATION OF THE ACCOUNT AGREEMENT, AS WELL AS THE SCOPE, APPLICABILITY AND VALIDITY OF THIS ARBITRATION AGREEMENT, INCLUDING ANY ALLEGATIONS THAT THE ARBITRATION AGREEMENT IS UNCONSCIONABLE OR UNENFORCEABLE IN ANY WAY.
  3. THE PARTIES AGREE THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON'S CLAIMS AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A REPRESENTATIVE OR CLASS PROCEEDING.
  4. The parties agree that any arbitration will be administered by JAMS under its Comprehensive Arbitration Rules and Procedures when the amount in controversy is greater than $250,000 and JAMS' Streamlined Arbitration Rules when the amount in controversy is less than or equal to $250,000. The arbitration proceedings shall be kept in strictest confidence. The parties agree the exclusive venue for arbitration proceedings, including any arbitration hearing, will be White Plains, New York. The parties further agree to the personal jurisdiction of the courts of the State of New York located in the County of Westchester, or of the United States of America for the Southern District of New York, to enforce these arbitration provisions described in this Agreement. Client makes this arbitration agreement on his or her behalf and on behalf of Client's heirs, administrators, executors, successors and assigns and all persons claiming a beneficial interest in Client's account.
  5. BEDFORD INVESTMENT PARTNERS 'S LIABILITY IN ALL CLAIMS WHETHER THEY SOUND IN TORT, CONTRACT, WARRANTY OR OTHERWISE SHALL NOT EXCEED THE AMOUNT ACTUALLY PAID BY THE CLIENT FOR THE ITEMS IN DISPUTE LESS THE ITEMS' FAIR MARKET VALUE AS OF THE DATE ANY ARBITRATION PROCEEDING IS COMMENCED. UNDER NO CIRCUMSTANCES SHALL BEDFORD INVESTMENT PARTNERS BE LIABLE TO ANY PERSON OR ENTITY FOR INDIRECT, INCIDENTAL, ADDITIONAL, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES EVEN IF BEDFORD INVESTMENT PARTNERS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
  6. If any party unsuccessfully resists arbitration under this Agreement or the confirmation or enforcement of an arbitration award rendered under this Agreement, then all costs, attorneys' fees, and expenses incurred by the other party or parties in compelling arbitration or confirming or enforcing the award shall be fully assessed against and paid by the other party resisting arbitration and/or confirmation or enforcement of the award. 
  7. The parties agree that any claim, arbitration, lawsuit, legal action, dispute or proceeding of any kind arising out of or relating to any transaction between Client and Bedford Investment Partners is barred unless commenced within one (1) year from the date of that transaction. The parties acknowledge that, but for this waiver, he, she or it might have a longer time period to initiate a claim under state or federal law.
  8. BY SIGNING BELOW, CLIENT CONFIRMS THAT HE OR SHE HAS READ AND UNDERSTOOD THIS SECTION REGARDING ARBITRATION AND VOLUNTARILY AGREES TO BINDING ARBITRATION. IN DOING SO, CLIENT VOLUNTARILY GIVES UP IMPORTANT CONSTITUTIONAL RIGHTS TO TRIAL BY JUDGE OR JURY, AS WELL AS RIGHTS TO APPEAL.
 
O. CONSENT TO CALL/DO NOT CALL
  1. Client expressly authorizes Bedford Investment Partners to contact Client at the telephone numbers provided in this Agreement regardless of whether these numbers are listed on any state or federal Do Not Call list. If Client requests that Bedford Investment Partners no longer contact Client, Bedford Investment Partners will promptly place Client on Bedford Investment Partners's Do Not Call list.
  2. CLIENT ACKNOWLEDGES THAT HE OR SHE HAS READ AND UNDERSTANDS ALL OF THE TERMS AND CONDITIONS OF THE ACCOUNT AGREEMENT AND SHALL BE BOUND BY THEM. THE PARTIES AGREE TO ARBITRATE ALL CLAIMS AND CONTROVERSIES AS SET FORTH IN PARAGRAPH N.
 
ACCOUNT AGREEMENT
Detach and return in enclosed envelope. Retain Agreement for your records.

CLIENT ACKNOWLEDGES THAT HE OR SHE HAS READ AND UNDERSTANDS ALL OF THE TERMS AND CONDITIONS OF THE ACCOUNT AGREEMENT AND SHALL BE BOUND BY THEM. THE PARTIES AGREE TO ARBITRATE ALL CLAIMS AND CONTROVERSIES AS SET FORTH IN SECTION N.

Client Name(s):

________________________________________________________________________

Daytime Phone: __________________Cellular Phone:___________________________

Email:__________________________________________________________________

Street Address:___________________________________________________________

City: ______________________________________________ State: ________

Zip Code: ________________


Signature of Client: ___________________________________Date: _______________


Signature of Client (for joint account)______________________ Date: ______________
 
SPECIAL STATE REFUND POLICIES
NEBRASKA, MARYLAND, LOUISIANA, KANSAS, CONNECTICUT

Bedford Investment Partners provides all first-time customers the right to a refund for the return of undamaged and unused metal or coins, provided that Bedford Investment Partners receives written notice of cancellation within seven (7) calendar days after the date you receive the merchandise. Your "receipt" of metals or coins is deemed to occur at the earliest of: (a) the date that you receive actual possession of the metals or coins; or (b) the date that you receive written confirmation that the metals or coins have been deposited on your behalf in an independent depository. Bedford Investment Partners shall, upon written notice of cancellation and receipt of the merchandise in the same condition as delivered, issue a full refund within thirty (30) calendar days from the date of cancellation or, where merchandise has been delivered, the returned merchandise is received by Bedford Investment Partners, whichever is later.

HAWAII, MISSISSIPPI, WEST VIRGINIA, ARIZONA, COLORADO, MONTANA, OKLAHOMA, UTAH, TEXAS (CREDIT CARD PURCASES ONLY), OREGON, NEVADA
Bedford Investment Partners provides you the right to receive a full refund for the return of undamaged and unused metals or coins, provided that Bedford Investment Partners receives written notice of the return within seven (7) calendar days after the date that you receive the merchandise. Your "receipt" of metals or coins is deemed to occur at the earliest of: (a) the date that you receive actual possession of the metals or coins; or (b) the date that you receive written confirmation that the metals or coins have been deposited on your behalf in an independent depository. Bedford Investment Partners shall, upon written notice of cancellation and receipt of the merchandise in the same condition as delivered, issue a full refund within thirty (30) calendar days from the date of cancellation or, where merchandise has been delivered, the returned merchandise is received by Bedford Investment Partners, whichever is later.

INDIANA, PENNSYLVANIA, VERMONT, WYOING, SOUTH DAKOTA
Bedford Investment Partners provides you the right to receive a full refund for the return of undamaged and unused metals or coins, provided that Bedford Investment Partners receives written notice of the return within ten (10) calendar days after the date that you receive the merchandise. Your "receipt" of metals or coins is deemed to occur at the earliest of: (a) the date that you receive actual possession of the metals or coins; or (b) the date that you receive written confirmation that the metals or coins have been deposited on your behalf in an independent depository. Bedford Investment Partners shall, upon written notice of cancellation and receipt of the merchandise in the same condition as delivered, issue a full refund within thirty (30) calendar days from the date of cancellation or, where merchandise has been delivered, the returned merchandise is received by Bedford Investment Partners, whichever is later.

MICHIGAN, VIRGINIA, ARKANSAS
Bedford Investment Partners provides all customers the right to a full refund provided that Bedford Investment Partners receives written notice of cancellation (see notice provided with your trade confirmation) within three (3) business days after the date that you sign the Addendum to this Trade Confirmation. Bedford Investment Partners shall, upon written notice of cancellation, issue a full refund within ten (10) calendar days from the date you send us the notice of cancellation (notice of cancellation, if given by mail, is given when it is deposited in a mailbox properly addressed and postage prepaid). If you decide to cancel, return all items shipped to you (if any) in substantially as good condition as when received to the address that appears on the form, ATTN: Operations Department.

NORTH DAKOTA
Bedford Investment Partners provides you the right to receive a full refund for the return of undamaged and unused metals or coins, provided that Bedford Investment Partners receives written notice of the return within fifteen (15) calendar days after the date that you receive the merchandise. Your "receipt" of metals or coins is deemed to occur at the earliest of: (a) the date that you receive actual possession of the metals or coins; or (b) the date that you receive written confirmation that the metals or coins have been deposited on your behalf in an independent depository. Bedford Investment Partners shall, upon written notice of cancellation and receipt of the merchandise in the same condition as delivered, issue a full refund within thirty (30) calendar days from the date of cancellation or, where merchandise has been delivered, the returned merchandise is received by Bedford Investment Partners, whichever is later. 

MAINE
Bedford Investment Partners provides all first-time customers the right to a refund, provided that Bedford Investment Partners receives written notice of cancellation within ten (10) calendar days from the date of your purchase. For second and subsequent purchases, you have the right to receive a full refund provided that Bedford Investment Partners receives written notice of the cancellation within three (3) business days after the date your trade confirmation is mailed or delivered, as above. Bedford Investment Partners shall, upon written notice of cancellation, issue a full refund within fifteen (15) calendar days from the date you send us the notice of cancellation (notice of cancellation, if given by mail, is given when it is deposited in a mailbox properly addressed and postage prepaid). If you decide to cancel, return all items shipped to you (if any) in substantially as good condition as when received to the address that appears on the form, ATTN: Operations Department.

WISCONSIN
Bedford Investment Partners provides all customers the right to a full refund provided that Bedford Investment Partners receives written notice of cancellation (see notice provided with your trade confirmation) within three (3) business days after the date that you sign the Addendum to this Trade Confirmation. Bedford Investment Partners shall, upon written notice of cancellation and receipt of the merchandise in the same condition as delivered, issue a full refund within thirty (30) calendar days from the date of cancellation or, where merchandise has been delivered, the returned merchandise is received by Bedford Investment Partners , whichever is later. (Notice of cancellation, if given by mail, is given when it is deposited in a mailbox properly addressed and postage prepaid.)

ALASKA
Bedford Investment Partners provides all customers the right to receive a full refund for the return of undamaged and unused metals or coins, provided the customer gives Bedford Investment Partners timely notice of the return within seven (7) calendar days after the date the customer receives the merchandise. Timely notice is given if the return request is made in person within the seven (7) days or if the return or request is mailed, properly addressed and postmarked, postage prepaid, within the seven (7) days. Receipt of metals or coins is deemed to occur at the earliest of: (a) the date the customer receives actual possession of the metals or coins; or (b) the date the customer receives written confirmation that the metals or coins have been deposited on the customer’s behalf in an independent depository. Bedford Investment Partners shall, upon written notice of cancellation and receipt of the merchandise in the same condition as delivered, issue a full refund within thirty (30) calendar days from the date of cancellation or, where merchandise has been delivered, the returned merchandise is received by Bedford Investment Partners , whichever is later.
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