• Report: #623874

Complaint Review: Superior Gold Group, LLC / Bruce Sands / Www.gold101.com

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  • Submitted: Fri, July 16, 2010
  • Updated: Mon, July 19, 2010

  • Reported By: Brucedonebrokeus — anywhere U.S.A.
Superior Gold Group, LLC / Bruce Sands / Www.gold101.com
100 Wilshire Boulevard Suite 950 Santa Monica,, California United States of America

Superior Gold Group, LLC / Bruce Sands / Www.gold101.com Bruce Sands Civil-Thief & Miscreant Operations Santa Monica,, California

*Consumer Comment: California Law

*Author of original report: Unfair Business Practices

*Author of original report: Contract is not consumer friendly

*Consumer Comment: which part do you object to?

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BEWARE: DO NOT SIGN -This contract hemorrhages with Escape Clause's - Here is a  Consumer Ready Version of the Superior Gold Group Contract Enlarged, Spaced, and Bold Print for ease of reading And  Consumer Interpretation - If you can intemperate it; please reply

Superior Gold Group Contract   7.5pt. to 12pt. Printer Ready



 



1. Delivery of Purchased Item(s). Upon receipt and confirmation of good funds in full payment of the purchase price Superior Gold Group, LLC (Superior) shall cause Customers order to be shipped within thirty one (31) business days after receipt of funds. This includes orders funded by check, bank wire, credit card, or certified check/money order. 



2. Lost or Items Not Received. Upon any notification by Customer and verification to Superior that the purchased item(s) forwarded to Customer have been lost, Superior in its sole discretion, shall, within ninety days of such notification, either refund to Customer the full purchase price for such lost item(s) or replace such item(s) with another item or items identical to the lost item(s). If the items are stolen, it is the responsibility of customer to immediately report the items stolen to their local authorities, and immediately file a claim with the insurance carrier. 



3. Holding Period. Rare Coins and bullion should be considered a long-term investment. Customer should be prepared to hold any item purchased for at least a three to five year period and preferably five to ten years to maximize the potential for gains. Customer should only invest capital that can be held for at least this period of time.  However, Superior makes no guarantee or representation that Customer will make a profit at the expiration of such period of time. In no event should Customer invest more in excess of twenty percent of Customers available investment capital in rare coins and bullion. Customer acknowledges that Superior renders no investment advice. 



4. Customers Financial Objectives and Financial Situation. Customer acknowledges that the decision to purchase coins, and which coins to purchase, is ultimately the Customers alone. Customer acknowledges that no fiduciary relationship exists between Superior and Customer. Superior does not guarantee the profitability of any purchase nor does Superior guarantee that any purchaser will be able to sell their coins for a profit in the future. Superior does not provide tax, investment, or legal advisory services and no one associated with Superior is authorized to render any such advice. Any written or oral statements by Superior, its principals, agents, independent contractors or representatives relating to future events are opinions only, and are not representations of fact. Superior is not liable for any damages either directly or indirectly arising from Customers purchase. Superior does not make any express or implied warranties as to the grade or description of item(s) purchased. 



5. Additional Services. Superior may from time to time provide additional services to Customer. The form of these services may vary. Such forms include reports, alerts, market evaluations and prospects. These services may be rendered via personnel from Superior or via Superiors website. Customers use or reliance on these additional services is taken at the own risk and discretion of Customer. No additional warranties or guaranties are made by Superior with regard to these additional services. 



6. Authority of Agents of Superior. No agent, employee, or representative has the authority to bind Superior in any way to any affirmation, representation, or warranty concerning any item purchased under this Agreement, or any information provided electronically to Customer. Furthermore, any affirmation, representation, or warranty made by an agent, employee, or representative of Superior shall have no binding or legal effect accept for that which is specifically included within this written Agreement. 



7. Purchase Price.  



A. Bullion. The price for bullion (coins and bars that move identically with the gold and silver spot price) includes a spread that currently averages between two and ten percent. Example: If the ask/sell price of a gold coin is four hundred dollars ($400) with a four percent spread (4%), then Superiors current market cost of the metal would be three hundred eighty-four dollars. Currently the baseline average is ten percent (10%). 



B.  Semi-Numismatic and Numismatic Coins. The spread for semi-numismatic and numismatic coins (Rare Coins) is between seventeen (17%) and one hundred percent (100%). Example: If the ask/sell price is four hundred dollars with a twenty-nine percent spread, then Superiors current market cost of the coin would be three hundred and ten dollars. Spreads may, and do fluctuate as market conditions change. Currently the baseline average is estimated at twenty nine percent (29%). 



C.  Coins / Proof Bullion placed in an individual retirement account (IRA) will carry a seventeen to thirty-four percent spread. All quotes are given as an ask price. Currently the baseline average is estimated at twenty nine percent (29%). Due to the market availability/volatility it may take several months to transfer to your custodial account. The price as contracted in the agreement will remain locked until delivery of the purchased coins/proof bullion. It may take several months for delivery of purchase to reach the depository. Regardless of when delivery takes place, the agreement remains in force as to all terms. 



8. Arbitration. Any and all controversies arising from or related to transactions between a purchaser, an agent of purchaser, a party acting on behalf of purchaser, and purchasers successors and/or assigns and Superior shall be resolved by mandatory binding arbitration in accordance with the Rules of the American Arbitration Association, conducted in Los Angeles, California and adjudicated under the laws of the State of California . To the extent not inconsistent with the Rules, service of process on purchasers residence or domiciled outside the State of California may be made by Certified Mail, Return Receipt Requested. Judgment upon the award of the arbitrator shall be entered in any court of competent jurisdiction. 



a.  Nature and Composition of Arbitration Panel. Such arbitration shall be conducted before the American Arbitration Association (AAA). The selection of Arbitrators shall be conducted in accordance with the rules set forth by AAA for selecting a three person arbitration panel. 



b.  Confidentiality. Any dispute, testimony, documents produced and outcome of the arbitration shall remain confidential. Any breach of this confidentiality agreement shall entitle the non-breaching party to be entitled to injunctive relief and/or compensatory damages from any court having competent jurisdiction or the arbitration panel. 



c.  Waiver of Right to Jury Trial. In agreeing to arbitrate, the parties understand and agree that they are both waiving their rights to a jury trial, or a trial before a judge in a public court. This waiver is for any and all causes of action or disputes arising from this agreement. 



d.  Authority of Arbitrators. The arbitrators shall have the authority to award compensatory damages, equitable relief, liquidated damages, pre-award interest, and reasonable attorneys fees and costs. The arbitrators shall not have the authority to award punitive damages. 



e.  Enforcing Arbitration. In the event a party fails to proceed with arbitration, unsuccessfully challenges the arbitrators award, or fails to comply with the arbitrators award, the other party is entitled to costs of suits including reasonable attorneys fees in order to compel arbitration or defend or enforce an award. 



f.  Inapplicability of Arbitration Clause. IF FOR ANY REASON THIS ARBITRATION CLAUSE BECOMES INAPPLICABLE, THEN EACH PARTY, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY  IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY AS TO ANY ISSUE RELATING HERETO IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER MATTER INVOLVING THE PARTIES HERETO



9.  The laws of the State of California shall govern any and all transactions and any and all disputes between Superior and its purchasers. 



10.  JURISDICTION. YOU EXPLICITLY CONSENT AND AGREE THAT JURISDICTION AND VENUE SHALL BE IN LOS ANGELES, CALIFORNIA UNDER ANY AND ALL CIRCUMSTANCES RELATING TO ANY AND ALL TYPES OF DISPUTES ARISING OUT OF THIS AGREEMENT, YOUR USE OF THIS PRODUCT, INTERACTIONS BETWEEN YOU AND SUPERIOR, OR OTHERWISE



11.  DISCLAIMER OF DAMAGES. IN NO EVENT, AND UNDER NO LEGAL THEORY,CONTRACT, TORT,OR OTHERWISE, SHALL SUPERIOR OR ITS SUBSIDIARIES OR AFFILIATES BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER, INCLUDING BUT NOT LIMITED TO DAMAGES RESULTING FROM LOSS OF PROFITS, WAGES OR BUSINESS, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES



12.  INDEMNITY TO SUPERIOR. CUSTOMER AGREES TO DEFEND, INDEMNIFY AND HOLD HARMLESS SUPERIOR FROM ANY AND ALL LIABILITIES, COSTS, AND EXPENSES INCLUDING WITHOUT LIMITATION TO ATTORNEYS FEES AND COSTS RELATED TO OR ARISING FROM: ANY UNAUTHORIZED USE OF THE PRODUCT WHETHER SOLD, PURCHASED OR OTHERWISE; AND THE USE OF THE PRODUCT BY CUSTOMER OR BY THOSE WHO HAVE ACCESS TO CUSTOMERS ACCOUNT IN A MANNER CONTRARY TO ANY LAW OR REGULATION, OR HARMFUL IN ANY WAY TO SUPERIOR OR ANY OF ITS SUBSIDIARIES OR AFFILIATES. 



13.  Web Transactions. Neither Superior or any independent provider/transmitter shall be liable in any way and you agree to indemnify and hold harmless Superior and the independent providers/transmitters for (1) any inaccuracy, error, or delay in, or omission of  (a) any information, or  (b) the transmission or delivery of information; (2) (a) any loss or damage arising from or occasioned by any such inaccuracy, error, delay or omission, (b) non-performance, (c) interruption of Information due either to any negligent act omission by Superior providers/transmitters of information or to any force majeure (i.e.: flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of the government, communications, power failure, or equipment or software malfunction) or any other cause beyond the reasonable control of Superior or the Information providers/transmitters. 



14. Volatility of Market. The success of an investment in coins is dependent, in part, upon extrinsic economic forces including supply, demand, international monetary conditions and inflation or the expectation of inflation. The impact of these forces on the values of coins cannot be predicted with any certainty. Customer acknowledges



that the coin market can be volatile and that coin prices may rise or fall over time and that past performance is no indication of future performance. Moreover, rare coins are not suitable investments for anyone seeking current income. Superior shall not be liable for loss caused directly or indirectly by an exchange or market ruling,



government restriction, or any force majeure (i.e.: flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute,  accident, action of the government, communications, power failure, or equipment or software malfunction) or any other cause beyond the reasonable control of Superior. 



15. Remedy for Customers Refusal to Perform. In the event that Customer refuses to accept delivery of the purchased item(s) or fails to make payment when due, Superior, in its sole discretion, may cancel the transaction and resell such item(s) on a wholesale basis. If the amount received by Superior upon any such resale shall be less than the contract price with Customer, Superior shall be entitled to recover from Customer the difference between the resale price and Customers contract price, together with any incidental damages occasioned by Customers breach. If the amount received by Superior upon any such resale shall be in excess of the contract price with Customer, such excess amounts shall inure solely to the benefit of Superior and Customer shall not be entitled to share in any such excess amounts. There will also be a 6% restocking fee placed on all cancelled transactions.  



16. Retirement Accounts: Superior has made every effort to comply with current federal laws in connection with Coins, which are placed in an IRA. However, Superior expressly disclaims any responsibility or obligation for any tax impact to Customer as a result of future Internal Revenue Code regulations or interpretations of current law. Customer expressly acknowledges and agrees that Customer has been advised to seek independent tax advice and that Superior has made no representations regarding the tax impact of Coins held as an investment in an IRA.  



17. Credit Card Purchases. Credit card purchases are only available for numismatic and semi-numismatic coins, not bullion. All credit card purchases are final and the purchased items may not be returned except pursuant to the provisions of Section 20 herein. Coins purchased with a credit card shall only be deliverable after thirty-one (31) days. This delivery of goods will only occur once the good funds have been distributed and verified within Superiors account. Said coins will not be sent to purchaser until this occurs.  



18. Fees. Fee rates are subject to negotiation, and any fee charged to Customer in a specific transaction may be more or less than fees charges to or by others in similar transactions or charged to Customer in prior transactions. 



NOTE: Superior applies a five percent (5%) Transaction and Processing fee on all purchases, for both cash and IRA purchases. The 5% is of the total purchase price. This fee encompasses all the transaction costs (shipping, packaging, etc.) as well as the processing of the transaction (e.g. coordination between custodians). This is a mandatory fee, and will be automatically applied to every purchase. The transaction fee will be deducted from the total amount forwarded to Superior. The remaining balance will reflect the total amount of  precious metals purchased, coupled with the ask/bid price. The detail of these fees are outlined in a separate invoice, which this agreement incorporates herein by reference.  



19. Buy-Back of Purchased Item(s). Superior is a buyer of Rare Coins and bullion at the prevailing current market value. If Customer wishes to sell such items in the future, Superior encourages Customer to offer them to Superior first. The law prohibits Superior from guaranteeing to repurchase the coins we sell. However, Superior has always made buy/sell markets in the coins we offer at the highest posted bid price on the electronic exchange. Therefore, our buy-back policy is not a guarantee and is subject to change without notice. Any risk of loss from all hazards shall be borne by Customer until any item(s) purchased by Superior are actually received by Superior.  



20. Refund Policy. A. No Refunds Except as to Counterfeit Coin(s). Superior shall not be obliged to accept returns of any coin(s) for refund other than counterfeit coins returned in their original holders within one year of purchase. In such event, Superiors liability to Customer shall be limited to refund of the purchase price or replacement of the coin(s) in Question. Superior expressly disclaims any further liability to Customer, including any liability for lost profits or consequential damages. In no event will Superior be liable for a replacement or refund of the purchase price for any coin purchased by Customer if more than one year has elapsed since the date of purchase regardless of when Customer became aware of the claim.  



B. Replacement of Numismatic Coin(s). Any Numismatic Coin may be replaced with any other Numismatic Coin of equal or greater value for any reason whatsoever within fifteen days of receipt of the Numismatic Coin by Customer; provided that the returned Numismatic Coin has not been removed from its original holder and is returned in the same condition as when it was shipped by Superior.  



C. Bullion:  ALL BULLION TRANSACTIONS ARE FINAL; UNLESS THE ITEM HAS BEEN PROVEN TO BE FALSE BY A COMPETENT AUTHORITY.  



21. Disclaimer of Express Warranties.  Superior warrants that the nature and precious metals content of the purchased item(s) are as described and are genuine, but noother express warranty is made in respect to any purchased item(s). Grades and descriptions of rare coins are opinions, not statements of fact or guarantees, and are based on standards and interpretations that can and do change over time. Superior uses contemporary grading standards and interpretations to grade coins, or relies upon the opinions of independent grading services such as the Professional Coin Grading Service, Inc., Numismatic Guaranty Corporation of America and ANACS. Superior does not guarantee that the coins it sells will achieve the same grades from Superior itself or from any independent grading service in the future.  



22. Disclaimer of Implied Warranties.  SUPERIOR EXPRESSLY DISCLAIMS ANY OTHER WARRANTIES WITH RESPECT TO THE COINS, EXPRESS OR IMPLIED, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.  



23. Authority of Agents of Superior. No agent, employee, or representative of Superior has any authority to bind Superior to any affirmation, representation, or warranty concerning any item(s) purchased under this Agreement, and unless an affirmation, representation, or warranty made by an agent, employee, or representative is specifically included within this written Agreement, it shall not in any way be enforceable.  



24. Application to Future Transactions. Unless otherwise agreed by the Parties in writing, any additional transactions between the Parties of the kind contemplated by this Agreement shall be subject to the terms and conditions set forth herein.  



25. Persons over the age of 65. A person over the age of 65 who signs this Agreement, and completes this transaction verifies the following:   (1) they are of sound mind,  (2) the agent of Superior provided them with relevant information to conduct the transaction, (3) they were not unduly persuaded or burdened to consummate this Agreement,  (4) they raised any and all questions or objections that could have prevented them from consummating this Agreement, and  (5) they were given every opportunity to seek assistance in negotiating the terms and conditions of this Agreement.  



26. Bankruptcy. Should a purchaser file for Bankruptcy during or after the transaction, while obligations under this Agreement are still outstanding, the Federal Bankruptcy laws shall not apply to this Agreement. All obligations under this Agreement must be completed, or the Agreement will be deemed breached, and the purchaser subject to the full enforcement of the law and damages associated with that breach.  



26. Finality of this Writing. This Agreement is intended by the Parties as a final expression of their agreement concerning the matters contained herein, and is also intended as a complete and exclusive statement of the terms of their agreement. This Agreement supersedes any oral or written statement prior to or contemporaneous with this transaction by Superior. Customer shall not rely on any statement by or on behalf of Superior, which is inconsistent with this Agreement.  



27. Governing Law: Severability. This Agreement shall be construed and enforced in accordance with the internal laws of the State of California. If any provision of this Agreement is determined by any court of competent jurisdiction or arbitrator to be invalid, illegal, or unenforceable to any extent, that provision shall, if possible, be construed as though more narrowly drawn, if a narrower construction would avoid such invalidity, illegality, or unenforceability or, if that is not possible, such provision shall, to the extent of such invalidity, illegality, or unenforceability, be severed, and the remaining provisions of this Agreement shall remain in effect.  



28. Severability. If any provision of this Agreement is determined to be invalid, illegal, or unenforceable to any extent, that portion shall, if possible, be construed as more narrowly drawn, if a narrower construction would avoid such invalidity, illegality, or unenforceability, or, if that is not possible, such provision shall, to the extent of such invalidity, illegality, or unenforceability, be severed, and the remaining provisions of this Agreement shall remain in effect.  



29. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. This Agreement and the agreements appended hereto or executed in connection with this agreement may be signed and transmitted via facsimile, and any copy with a facsimile signature will be deemed a valid signature hereto or thereto and shall remain binding on the parties as if it were an original signature.  



30. Disputes and Disagreements. Superior goes through great efforts to satisfy each and every client. Therefore, if any disputes arise as to the service received from Superior, the purchaser/client must first raise such disagreement or dispute to Superior before seeking redress or grievance from a third party or agency. If Superior does not rectify or satisfy purchaser/clients concerns within twenty-one days, then purchaser/client may then proceed with the matter outside of Superiors normal business practices.  



31. Additional Documents and Addendum's  You will be required to sign and/or initial additional documents which provide further terms of this purchase. Each and every one of these documents are incorporated herein by reference, are subject to all of the terms and conditions set forth, and are part of the purchase contract as a whole. 



PURCHASE PRICE: Total Price: The total price for this order is $(____________) $200k + which is to be paid by Wire / Check / Cash / Credit Card. If customer and Superior agree to allow the total price to be paid in installments, then the payments shall be set forth in an Addendum attached to this Agreement as to amounts and dates and said Addendum shall be incorporated by reference to this Agreement and made part of it.  



BY SIGNING BELOW, I ACKNOWLEDGE THAT I HAVE READ, UNDERSTAND AND HEREBY AGREE TO THE TERMS OF THIS AGREEMENT AND I SHALL RETAIN A COPY FOR MY RECORDS: 



SHIPPING INSURANCE AND ACCOUNT AGREEMENT  



This contract represents an Agreement between yourself and Superior Gold Group LLC and any and all future transactions between yourself and Superior Gold Group LLC. If any future transactions are consummated between yourself and Superior Gold Group LLC, a new contract with only the material terms of the transaction will be signed. This contract and all other terms and conditions will remain effective and apply by reference to the new transaction, unless you are informed in writing to the contrary. In consideration of the transaction(s) between Superior Gold Group, LLC, a Nevada Corporation, and Customer, Customer represents that Customers name and address are as indicated above.  



PHONE CALLS



__________________



Initial 



By initializing in the space provided, and by your signature on this agreement, you hereby expressly authorize Superior to telephone you at the number(s) provided above, irrespective of whether or not your telephone number appears in the National Do Not Call Registry. 16 CFR 310.4(b)(1)(iii)(B)(i) and (ii). Copyright Statement - Superior Gold Group LLC, Copyright 2008 All documents, photographs, and images included in this package are the property of Superior Gold Group LLC, except where noted. Permission is required to copy, download or use any text, photographs or image files.


This report was posted on Ripoff Report on 07/16/2010 12:19 PM and is a permanent record located here: http://www.ripoffreport.com/r/Superior-Gold-Group-LLC-Bruce-Sands-Wwwgold101com/Santa-Monica-California-90401/Superior-Gold-Group-LLC-Bruce-Sands-Wwwgold101com-Bruce-Sands-Civil-Thief-Miscrea-623874. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

California Law

AUTHOR: nutty prof - (United States of America)

The contract can say anything but it doesn't matter. California law says you can cancel your order provided you do so in writing three business days of signing. If you didn't know about this law it is because SSG won't tell you as they are supposed to. This is in itself a violation of CA law. You have many grounds for suing and this is one.

California law defining the right of buyer of gold coins to cancellation of a contract made via telephone within 3 business days with seller required to return all money (no restocking, cancellation, return or any such fee) in 10 days (not business days)

 

If you would like to view the entire statute on line please follow the procedure below. I only copied and pasted below what I thought were pertinent sections:

 

http://www.leginfo.ca.gov/

 

Click on California Law

 

http://www.leginfo.ca.gov/calaw.html

 

Select Business and Professions code and type in: SECTION 17511-17514

 

http://www.leginfo.ca.gov/cgi-bin/calawquery?codesection=bpc&codebody=SECTION+17511-17514&hits=20

 

Go to page 2

 

http://www.leginfo.ca.gov/cgi-bin/calawquery

 

Select #14

 

http://www.leginfo.ca.gov/cgi-bin/waisgate?WAISdocID=90578229298+17+0+0&WAISaction=retrieve

 

 

CALIFORNIA CODES
BUSINESS AND PROFESSIONS CODE
SECTION 17511-17514
 
 
 
 
17511.  (a) The Legislature finds and declares that the widespread
use of telephone solicitors to initiate sales of goods, real
property, and investment opportunities has created numerous problems
for purchasers and investors which are inimical to good business
practices. Telephonic sales have a significant impact upon the
economy and well-being of this state and its local communities.
However, purchasers have suffered substantial losses because of (1)
misrepresentations, (2) lack of full and complete information
regarding both the telephonic seller and the goods and investments
the telephonic seller is offering, and (3) failure of delivery. The
provisions of this article relating to telephonic sellers are
necessary for the public welfare.
   (b) It is the intent of the Legislature in enacting this article
to (1) provide each prospective telephonic sales purchaser with
information necessary to make an intelligent decision regarding the
offer made, (2) safeguard the public against deceit and financial
hardship, (3) insure, foster, and encourage competition and fair
dealings among telephonic sellers by requiring adequate disclosure,
and (4) prohibit representations that tend to mislead. This article
shall be construed liberally in order to achieve these purposes.
 
 
 
 
17511.1.  As used in this article, "telephonic seller" or "seller"
means a person who, on his or her own behalf or through salespersons
or through the use of an automatic dialing-announcing device, as
defined in Section 2871 of the Public Utilities Code, causes a
telephone solicitation or attempted telephone solicitation to occur
which meets the criteria specified in subdivision (a), (b), (c), or
(d) and who is not exempted by subdivision (e), as follows:
   (a) A telephone solicitation or attempted telephone solicitation
wherein the telephonic seller initiates telephonic contact with a
prospective purchaser and represents or implies one or more of the
following:
   (1) That a prospective purchaser who buys one or more items will
also receive additional or other items, whether or not of the same
type as purchased, without further cost. For purposes of this
subdivision, "further cost" does not include actual postage or common
carrier delivery charges, if any.
   (2) That a prospective purchaser will receive a prize or gift, if
the person also encourages the prospective purchaser to do either of
the following:
   (A) Purchase or rent any goods or services.
   (B) Pay any money, including, but not limited to, a delivery or
handling charge.
   (3) That a prospective purchaser is able to obtain any item or
service at a price which the seller states or implies is below the
regular price of the item or service offered. This paragraph shall
not apply to retailers who, within the previous 12 months, have sold
a majority of their goods or services through in-person sales at
retail stores.
   (4) That a prospective purchaser who buys office equipment or
supplies will, because of some unusual event or imminent price
increase, be able to buy these items at prices which are below those
that are usually charged or will be charged for the items.
   (5) That the seller is a person other than the person he or she
is.
   (6) That the items for sale are manufactured or supplied by a
person other than the actual manufacturer or supplier.
   (7) That the seller is offering to sell the prospective purchaser
any gold, silver, or other metals, including coins, diamonds, rubies,
sapphires, or other stones, coal or other minerals, or any interest
in oil, gas, or mineral fields, wells, or exploration sites, or any
other investment opportunity of any type whatsoever.
   (8) That the seller is offering to make a loan, or to arrange or
assist in arranging a loan or to assist in providing information
which may lead to the obtaining of a loan, unless no payment of any
kind is made until the loan proceeds are disbursed to the borrower.
   (9) That a prospective purchaser will receive a credit card, as
defined in subdivision (a) of Section 1747.02 of the Civil Code, if
the purchaser pays an up front or preapplication fee for the credit
card to the telephonic seller.
   (b) A solicitation or attempted solicitation which is made by
telephone in response to inquiries generated by unrequested
notifications sent by the seller to persons who have not previously
purchased goods or services from the seller or who have not
previously requested credit from the seller, to a prospective
purchaser wherein the seller represents or implies to the recipient
of the notification that any of the following applies to the
recipient:
   (1) That the recipient has in any manner been specially selected
to receive the notification or the offer contained in the
notification.
   (2) That the recipient will receive a prize or gift if the
recipient calls the seller.
   (3) That if the recipient buys one or more items from the seller,
the recipient will also receive additional or other items, whether or
not of the same type as purchased, without further cost or at a cost
which the seller states or implies is less than the regular price of
such items.
   However, this subdivision does not apply to the solicitation of
sales by a catalog seller who periodically issues and delivers
catalogs to potential purchasers by mail or by other means. This
exception only applies if the catalog includes a written description
or illustration and the sales price of each item of merchandise
offered for sale, includes at least 24 full pages of written material
or illustrations, is distributed in more than one state, and has an
annual circulation of not less than 250,000 customers.
   (c) A solicitation or attempted solicitation which is made by
telephone in response to inquiries generated by advertisements on
behalf of the telephonic seller wherein it is represented or implied
that the seller is offering to sell to the prospective purchaser any
gold, silver, or other metals, including coins, diamonds, rubies,
sapphires, or other stones, coal or other minerals, or any interest
in oil, gas, or mineral fields, wells, or exploration sites, or any
other investment opportunity of any type whatsoever.

 

 

If you want to read the rest of this law please follow the instructions above. I have included what I think are the relevant portion only.

 

 

1) At the time the solicitation is made, the telephonic seller
shall inform the buyer orally of the following:
   (A) The buyer has the right to cancel the contract or offer until
midnight of the third business day after the day on which the buyer
receives the product or products ordered or the notice of
confirmation of services ordered. This right of cancellation begins
to run from the date of the buyer's receipt of the product or
products ordered or, in the case of services ordered, from the buyer'
s receipt of the notice of confirmation of services ordered.
   (B) A written notice of cancellation will be sent with the product
or products ordered or, in the case of services, the notice of
cancellation shall accompany a notice of confirmation that shall be
sent to the purchaser immediately following the telephonic agreement
to purchase those services.
   (2) The telephonic seller shall provide the buyer with a written
notice of cancellation that shall accompany and be attached to any
product or products sent to the purchaser in response to a telephone
solicitation or, in the case of services, shall accompany a notice of
confirmation of the agreement to purchase services. The notice of
cancellation shall be in duplicate, captioned "Notice of Buyer's
Right of Cancellation," which shall be separate from or easily
detachable from any agreement or offer to purchase which accompanies
the product or products or notice of confirmation, and shall contain,
in type of at least 10-point, the following cancellation statement,
and no other information or statement, written in the same language
used in the telephone solicitation:
                     "NOTICE OF BUYER'S RIGHT OF CANCELLATION"
   You may cancel this transaction, without any penalty or
obligation, within three business days following your receipt of this
notice of cancellation and the receipt of any products, or in the
case of services, within three business days following receipt of the
attached notice of confirmation.
   If you cancel, any payments made by you or authorized by you,
pursuant to any telephonic solicitation and purchase agreement shall
be returned to you within 10 days following receipt by the seller of
your cancellation notice.
   If you cancel, you must make available to the seller at your
residence, in substantially as good condition as when received, any
goods delivered to you under this contract, agreement, or sale, or
you may, if you wish, comply with the instructions of the seller
regarding the return shipment of the goods at the seller's expense
and risk.
   If you do make the goods available to the seller and the seller
does not pick them up within 20 days of the date of your notice of
cancellation, you may retain or dispose of the goods without any
further obligation. If you fail to make the goods available to the
seller, or if you agree to return the goods to the seller and fail to
do so, then you remain liable for the performance of all obligations
under the contract.
   To cancel this transaction, mail or deliver a signed and dated
copy of this cancellation notice, or any other written notice, or
send a telegram to  __________  (name of seller), at  ________
(address of seller's place of business) not later than midnight of
the third business day after receipt of the products and this notice
of cancellation.
 
   I HEREBY CANCEL THIS TRANSACTION.
 
                     ______________________________
                     DATE
                     ______________________________
                     BUYER'S SIGNATURE
 

.

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#2 Author of original report

Unfair Business Practices

AUTHOR: Bruce - (U.S.A.)

Superior Gold Group is using its contract as a vehicle to threaten its customers with law suits in a variety of ways. These customers all have good reason to question this companys policies, without fear of law suit; a contract is to be used as a bridge to agreement and not as a weapon of fear or intimidation.  No matter what your sales representative or any other employee of this company tells you;  Bruce Sands the company CEO of Superior Gold Group, uses clause 6 & 23 as an escape loop-hole from accountability after inducing you into doing business with Superior Gold Group and making offers they have no intention or can not or will not keep. Ray Larsen from Florida made a large $250,000.00 cash purchase of gold without out signing a contract. Ray Larsen did not make his purchase from some low level account representative. Ray Larsen was induced to do business with Superior Gold Group, through John March; a radio host and the Chief Technical Officer from Superior Gold Group.  When Ray started inquiring about his gold delivery, he was told that he would be required to sign Superior Gold Groups contract first. When he refused to sign the contract after he requested a full refund of his money he was more or less told to pound sand and that the company would only return a portion of his investment; now he has been forced to obtain legal representation to get his money back and Superior Gold Group has left his money entirely exposed.  The average customer of Superior Gold Group will make purchases between $1000.00 and $50,000.00. In order to seek litigation the cost of legal council will supersede the amount of this groups original investment. Also, these customers are bound by contract to litigate all issues with mandatory binding arbitration in Los Angeles, California. The Los Angeles District Attorneys Office will not accept fraud complaints under $300,000.00; until recently that leaves the previously mentioned group particularly vulnerable for their ability to seek legal regress from Superior Gold Group; however, due to the large number of complaints filed against this company currently an investigation is taking place due to the nature and seriousness of those complaints.  Superior Gold Group is using mandatory binding arbitration as their own personal vehicle to misrepresent their customers and commit civil theft; is that what arbitration is intended for? Arbitration unlike the civil courts is not required to follow the rule of law; ultimately, you might win your case however, the cost of litigating through arbitration is prohibitive.  Case in point: Direct TV customers are committed to mandatory arbitration with over 39,000 complaints filed against them with the BBB, Ripoff Report has an additional 700 plus complaints against  DTV; unless a customer pays off their Direct TV contract  and then seeks legal regress through the civil courts their chances of a full recovery are slim to none. The Superior Gold Group contract is either mailed to the customer or sent to them via email. The contract is written in 7.5pt. type.  Granted, the customer should probably consult an attorney before they sign any contract; but is that a reality to be expected for the average consumer?  In 2007/ 2008 my spouse and I purchased 3 different cell phones, signed up for Direct TV, went to the hospital twice, purchased two vehicles, rolled over an IRA to Sterling Trust company and purchased precious metals through Superior Gold Group, took out two different insurance policies and not to mention if you should have to file a complaint against one of your utility companies; all of these services and purchases committed us to mandatory binding arbitration and, at $300.00 an hour for an attorney; would that mean that the average consumer in an average year now is required to pay $5000.00 or more for an attorney to oversee and protect them from their purchases? What ever happened to the tenant of good faith? Where are the consumer protection laws and who governs them? Who enforces these consumer protection laws?  Did we read the contract? Yes we did and we both had numerable questions regarding the contract; however we were assured by the account representative that most of the contract clauses that we questioned did not pertain to us. However, clause 6 & 23 stipulates no matter what your account representative or any other employee of Superior Gold Group tells you; Superior Gold Group will not be held responsible for what that employee represents to you including the price.  Superior Gold Group umbrellas adhesion contracts to this original contract via wire transfer or by assigning themselves as your account representative to your IRA account and deny fiduciary duty according to their contract. Bruce Sands stated that he spent over 22 years in the automotive industry; I question rather any of that time spent included manufacturing license plates? This company needs to be investigated:  1. there are many good companies competing with this Superior Gold Group who benefit their customers everyday; Superior Gold Group, LLC tarnishes the reputation of this industry.  2. As consumers we are all struggling with this economy while we wait for things to get back on tract; we do not need companies like this to add fuel to an already unfriendly consumer environment. Both consumer and competitor of Superior Gold Group looses as long as Superior Gold Group is permitted to operate utilizing unfair business practices.

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#3 Author of original report

Contract is not consumer friendly

AUTHOR: Bruce - (U.S.A.)

This company is using its contract as a vehicle to threaten customers whom have good reason to question this companies policies with law suits in a variety of ways; a contract is to be used as a bridge to agreement and not as a weapon of fear or intimidation. No matter what your sales representative or any other employee of this company tells you, including  Bruce Sands the company CEO of Superior Gold Group, will use clause 6 & 23 as an escape loop-hole from accountability for  inducing you into doing business with Superior Gold Group and making offers they have no intention or can not or will not keep. Ray Larsen from Florida made a large $250,000.00  cash purchase of gold without out signing a contract. Ray Larsen, did not make his purchase from some low level account representative. Ray Larsen was induced to do business with Superior Gold Group, through John March; a radio host and the Chief Technical Officer from Superior Gold Group.  When Ray started inquiring about his gold delivery, he was told that he would have to sign Superior Gold Groups contract first. When he refused to sign the contract after he requested a full refund of his money he was more or less told to pound sand and that the company would only return a portion of his investment; now he has been forced to obtain legal representation to get his money back and Superior Gold Group has left his money entirely exposed.  The average customer of Superior Gold Group  will make purchases between $1000.00 an $50,000.00. In order to seek litigation the cost of legal council will supersede the amount of this groups original investment. Also, these customers are bound by contract to litigate all issues in Los Angeles. The Los Angeles District Attorneys Office will not accept fraud complaints under $300,000.00; until recently that leaves the previously mentioned group particularly vulnerable for their ability to seek legal regress from Superior Gold Group; however, due to the large number of complaints filed against this company currently an investigation is taking place.  Superior Gold Group is using mandatory binding arbitration as their own personal vehicle to misrepresent their customers and commit civil theft;  is that what arbitration is intended for? Neither is arbitration required to follow the rule of law; ultimately, you might win your case however, the cost of litigating through arbitration is prohibitive.  Case in point: Direct TV customers  use mandatory arbitration with over 39,000 complaints, Ripoff Report has over 700 additional complaints against  DTV; unless a customer pays off their Direct TV contract  and then seeks legal regress through the civil courts their chances of full recovery are slim to none. The contract as it is either mailed to the customer or sent to them via email given in 7.5pt. type.  Sure, the customer should probably consult an attorney before they sign any contract; but is that a reality?  In 2008 my spouse and I purchased 3 different cell phones, signed up for Direct TV, went to the hospital twice, purchased two vehicles, and took out two different insurance policies; all of these services and commodities commit you to mandatory binding arbitration and, at $300.00 an hour for an attorney; would that mean that the average consumer in an average year now is required to pay $5000.00 or more for an attorney to oversee and protect them from their purchases? What ever happened to the tenant of good faith? Where are the consumer protection laws and who governs them? Who enforces these consumer protection laws? 
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#4 Consumer Comment

which part do you object to?

AUTHOR: Flynrider - (USA)

  There's a lot in that contract. 

   I wouldn't sign it, only because this company charges premiums which are more than twice the going rate (at least for 1 oz. gold).   I can buy a new Eagle for $60 over spot.  They charge $160 over spot for the same coin.  What's the point?

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