Angu's gold grain e-vouchers (from hereon called "grains") is a trademarked service provided by "Angu Grains Services Limited", which has a company number 11595573 registered in England and Wales.

In these Terms & Conditions (T&Cs) references to Angu or MyAngu mean "Angu Grains Services Limited" wherever the context requires a legal entity, unless a specific subsidiary is named or referenced.

You become an Angu client by registering for a grain account on the Angu mobile application ("app"). As a Client you are deemed to accept that these T&Cs define the business relationship between Angu and you.

You will be notified by email of occasional changes to these T&Cs 30 days prior to them being published here on this website. If you do not delete your account during this period you are deemed to accept these changes.

Angu clients benefit from being able to save & transfer their wealth in Switzerland-based gold (denominated in grains), and redeem them for hard currency on demand, all in a legal and transparent manner. This is also aimed at facilitating trade into and around Africa by providing a robust and trustworthy financial platform for the development of its economy.

Angu's service is designed for increasing levels of automation and expects to earn a profit its charges.

To operate your account you permit Angu to hold data about you (and any other parties associated with the account, incl. beneficial owners or agents operating your account on your behalf).

You confirm that the provision to us, and use of, any sensitive data has the full consent of all interested parties.

Angu undertakes not to disclose data about you or any other parties associated with your grain account to any third parties except, where necessary to (i) arrange transfers to be made in or out of your grain account (ii) to allow us to comply with any regulatory or legal obligations required of us.

Angu will retain information about you for at least five but no more than ten years following the closure of your account, after which time your personal data will be deleted from Angu's computers.

Angu endeavours to ensure that all grain top-ups and redemptions occur from/to an account (bank, PayPal etc) in the client's name.

You undertake to identify yourself, and all other relevant parties, promptly and sufficiently upon request. You also authorize Angu to make such enquiries as it may feel necessary to satisfy itself about the validity of your identity, particularly in suspicious circumstances, including if you seem to be actively hiding your identity or activities.

You will fully assist with Angu in discharging its anti-money laundering obligations.

If you operate the account on behalf of another party (who may be the beneficial owner) you confirm that you do so with their approval and with appropriate legal authorization and will provide evidence of such authorization upon Angu's request.

During the period your account is open, you agree to provide additional or updated documents or information which Angu may need to maintain accurate records in accordance with English and Welsh law.

You accept that your documents should be written in English. Where this is not so you undertake to provide certified translations along with your documents, at your expense.

Angu holds your mobile number and email address for means of communication and identification. You must keep these both up-to-date and maintained as Angu is entitled to rely on their accuracy. If these are changed Angu will inform you (to both the old & new address). These are used for all communication and Angu is entitled to rely upon them. Failure to do so may negate protections you seek from Angu and you hereby indemnify and keep indemnified Angu against losses which thus arise.

If no response is received from an Angu email or SMS within a month any resolution will be considered in the context of the delay, which you accept may have a bearing on the value of any resolution proposed either by Angu management, or through complaints arbitration.

You understand and accept that email is not encrypted and that it operates with a similar degree of privacy as physical post, in that a network engineer, like a postman, has the ability to see email and attachments if he chooses to open your mail. You accept and understand that easily comprehended open format feedback to a known and used address is appropriate for reporting your completed business to you, off-line, and after the event.

Angu is entitled to rely in this regard on the accuracy of its own transmission records when backed up by the independent confirmation of its telecommunications provider's records. Furthermore Angu is not responsible for losses you may incur as a result of an SMS or email not being delivered in circumstances beyond Angu's direct control (e.g. if your mobile phone was switched off or was operating in a zone or on a service technology which was not reachable).

Your personal and financial data held at Angu are protected from unauthorized access by a PIN and other access data, which you have a duty to keep secret.

You accept that in order to provide reliable client access Angu must have a robust procedure for re-issuing a forgotten PIN. You accept the details of this reset process. You accept that the re-issue of a PIN entitles Angu to suspend your right to immediate grain redemption for a period not exceeding six weeks (in extreme cases).

You accept who Angu uses for wealth storage & transaction execution (incl. Bullionvault.com, PayPal , Payoneer ,Flutterwave and Lloyds Bank ) and that they’ve been chosen with all due care. You also accept & acknowledge that any future downwards revision of these suppliers’ standing isn't Angu's responsibility.

Angu accepts a duty to convert funds received from you into bullion within 1-2 business days of receipt.

Angu undertakes to maintain 100% gold backing of the gold grain ledger and to maintain adequate liquidity as to make redemptions possible upon request.

The bullion is held as weighed and numbered bars in a form generally acceptable in settlement of local bullion markets sales.

The fine gold content of each bar held by Angu is its weight multiplied by its purity. The resulting units of gold applied on your Angu account are 100% pure gold and are denominated in grains (one 480th of a troy ounce) to four decimal places (the 2 decimal places displayed on the app are 'rounded' in the regular manner). Other than in extremis (for example, when there has been a collapse in the regular banking system) gold will not be delivered to clients directly from Angu (although please feel free to redeem the grains and use the funds to purchase bullion from a reputable and suitable supplier).

You accept and acknowledge that interest is not payable to you on your grain balance.

Grains must be bought from an account (PayPal, Payoneer, payment card or bank) that is identifiably owned by the grain account holder. If using a bank transfer you understand that your bank may be expected to identify standard banking data on each incoming payment to Angu, including (i) your bank name (ii) your branch identifying code, (iii) your account name (iv) your bank account number and (v) your Angu email as the payment reference.

You accept that a failure by your bank, when asked by Angu, to identify the source of your money may delay your grain account being credited. In which case Angu will place your money safely in suspense, pending your contact with us, at which time your advice of the correct remittance details will cause the money to be appropriately used to top-up your grain account, at which point it will be capable of being used.

You agree that you will not purchase grains in any way which obscures the source of your funds. All your purchases must come from a clearly identifiable source. You accept that Angu will not credit the relevant grain wallet if the money used to purchase them comes from a bank account that is in a different name from the one provided (or that the reference on the EFT is incorrect).

You hereby indemnify and keep indemnified Angu against any and all losses which arise out of your failure when purchasing grains, by EFT or payment card, to do so directly and identifiably from an account in your name.

Where we are unable to identify the Angu account to be credited, and it is not possible to return the funds to their source, client funds remaining in our suspense account for a period of 5 years or more and may – at Angu's discretion – be accumulated and irrevocably contributed in a single payment to a recognized African children's charity, on Clients' joint behalf.

Subject to the irrevocable clearance of any necessary grain purchases, you may sell some or all of your grain balance back to Angu. The proceeds can go to a bank account in your name (subject to ID verification), to a PayPal or Payoneer account with the same email address as your Angu wallet or (for individuals only) a Western Union cash out in Zimbabwe. Angu will endeavour to add more redemption channels over time

You may deactivate your account in the app’s “Settings” after zeroing your account. Angu will maintain records for 5-10 years.

Angu reserves the right to suspend or close any account for reasons including, but not limited to:

• If Angu identifies information provided by you as false, or you or someone else are using the account illegally or fraudulently;
• you have acted abusively or violently towards members of Angu's staff;
• you are in breach of these Terms and Conditions (or have failed to remedy a breach where we have asked you to do so).

If Angu suspends your account it will not result in the expropriation of your property (unless it is discovered - through the regular legal due process - that your grains have been obtained illegally). Angu will remove the suspended status from your account as soon as the reason for suspension is remedied.

Angu’s grains are designed to be a secure home for legally acquired wealth (in the period after they are purchased and before they are redeemed). They are not a useful or secure resource for money launderers.

For reasons relating to both security and money-laundering legislation Angu enforces the exit of funds to an account in the client's name.

Angu recognises your right to confidentiality where your identity has been validated. However, if for whatever reason Angu becomes suspicious of an attempt at money laundering, terrorist financing or other breach of law, you understand that Angu will actively assist the appropriate authorities in their efforts to detect and prosecute it. Angu also keeps comprehensive records in order to assist the authorities in this regard.

Gold Price movements: You are exposed to the risk of relative potential loss compared to other assets due to a ‘falling gold price’ (particularly with reference to the USD and other fiat currencies) during the time in which you own grains. This risk is not an Angu responsibility.

Money politics: Governments and other agencies seeking currency stability, or for other reasons, might seek to constrain or tax the ownership of bullion to the disadvantage of its owners. Although grains should not come into the category of owning bullion (they’re legally ‘vouchers’), in any event this risk is not an Angu responsibility.

Identity theft: If your Angu account number and PIN are compromised, you are at risk of unauthorized access to your account. Any change of your account details would be acknowledged to you. The most serious risk arising from the theft of a PIN are illegitimate transactions on the Angu system. Angu will do everything it can to reverse any successful attempt to bleed your account of value in favour of another account, particularly if this is discovered quickly. This would of course also relate to the detection and prosecution of any criminal activity without gain. In these ways Angu seeks to minimise the risks to you associated with identity theft but these are not an Angu responsibility unless the breach of security can be shown to have occurred because of Angu's error.

System availability: Angu's computerised machinery, which is accessed by you across the internet, might become inaccessible for periods of time. This could prevent you from executing a transaction which you would otherwise have made. This risk is not an Angu responsibility.

Insurance exclusions: The gold bullion backing the grains is subject to insurance exclusions imposed by insurance underwriters in line with established insurance practice regarding the physical protection of your bullion. These excluded risks include events like nuclear war. These risks are not an Angu responsibility and are risks you undertake with respect to your bullion, except that no exclusion absolves Angu in undertaking its correct duties of care in arranging the security of your property to levels considered commercially acceptable.

Force Majeure: The risks described under Force Majeure are not Angu responsibilities (see below for more information on this).

Angu accepts it has duties of care with regard to aspects of risk to the bullion backing your grains and undertakes to manage risks so as to contain them at minimal levels, consistent with best business practices.

Physical bullion theft: Your bullion could conceivably be stolen from a vault by determined thieves. It is the Vault Operators (Loomis International, Malca-Amit and Brink's, who are independent professional bullion market vault operators and LBMA security transport companies) that accept a duty to retain sufficient security measures, and to maintain cover against such an eventuality either in terms of its own resources or its insurance policies. Although it is the duty of Angu’s gold supplier to regularly monitor the Vault Operators to ensure the maintenance of a limit sufficient to cover at least the value of the bullion stored, Angu will also monitor both the gold supplier and the Vault Operators.

Subject to the provisions for Exclusions and Limits of liability in these Terms and Conditions Angu accepts liability for failing in this duty.

Theft of Client money: Money as it comes through the Angu accounts could theoretically be illegally transmitted through the banking system by a determined thief, or thieves, operating within Angu. Subject to the provisions for Exclusions and Limits of liability in these Terms and Conditions Angu accepts liability for failing in this regard.

Angu segregation management: All Angu software is designed to eliminate the possibility that either a client could over-purchase beyond his grain balance or that a credit (or debit) is erroneously made. In case it does then you have a responsibility to inform Angu as soon as possible. The risk of material loss is extremely small, because any such error would be offset by a surplus in another account. Subject to the provisions for Exclusions and Limits of liability in these Terms and Conditions Angu accepts liability for failing in this duty.

Angu record keeping: A risk in all business record keeping systems is that internal records may show a position which satisfies the organization's officers but does not represent the real world, and where the problems only come to light when it is too late. The risk rises with increasing complexity of transactions and the availability of credit, neither of which apply to Angu. For all businesses the record keeping risk is statutorily addressed by annual audit.

Subject to the provisions for Exclusions and Limits of liability in these Terms and Conditions Angu accepts liability for failing in this duty.

Angu insolvency: The insolvency of Angu would not affect your rights in respect of the bullion being held on reserve for the grains, but it would be likely to create some inconvenience and delay for you in taking hold of that property, either in bullion or cash form.

In the event that you become incapacitated you permit Angu to allow your account to be maintained on your behalf by your duly authorized attorney.

Angu undertakes to process your Angu account in accordance with the instructions of your authorized executors or administrators.

Although the need should be rare you permit Angu to seek legal advice in the jurisdiction of your estate's administration at the expense of your account.

Angu's technical system is scheduled to operate continually, even during planned software updates. Where downtime maintenance is necessary it will usually be carried out on weekends or at times of lower public demand for the service. Angu will always provide an advance warning notice via the website for planned downtime. There may also be planned service interruptions at other times where maintenance requires urgent action which cannot wait until a weekend.

Angu will not plan service interruptions around our bullion purchase times unless it’s absolutely necessary, in which case the reconciliation will take place once the interruption is over. This will also take place in the event of an unscheduled service interruption.

We will endeavour to keep you informed via email when you have a large in-process grain purchase during a period of unscheduled service interruption, but you accept that the nature of the service interruption may make it impractical for Angu to do this.

You accept that service interruption is an unavoidable event on networked computers. You accept our terms for handling service interruption vis-a-vis your grain purchases, redemptions and transfers. You understand that a large grain purchase can expose you to these slight delay risks and the consequent Gold Price movements in the meanwhile.

In general Angu provides its Services using a commercially reasonable level of skill and care and we hope that you will enjoy using them. But there are certain things that we don’t promise about our Services.

Other than as expressly set out in these terms or additional terms, neither Angu nor its suppliers or distributors make any specific promises about the services. We provide the services “as is”.

Angu is an English Limited Company regulated by English Law which covers well established principles of statutory property rights and statutory company law.

Regulatory responsibility rests on three mutually independent arms of law enforcement: (i) the investigating authority, (ii) the prosecuting authority and (iii) the Criminal Courts.

• The investigating authority is the London Metropolitan Police Force. It is independently funded out of civil taxation and its role is to investigate reports of crimes and to produce a report for the prosecuting authority. Theft and Fraud fall under its areas of responsibility.
• The prosecuting authority is the UK Crown Prosecution Service. It is independently funded out of civil taxation and its role is to prosecute breaches of statute law where evidence gathered by the investigating authority produces a reasonable prospect of conviction.
• The prosecuting authority is the UK Crown Prosecution Service. It is independently funded out of civil taxation and its role is to prosecute breaches of statute law where evidence gathered by the investigating authority produces a reasonable prospect of conviction.

There is no cost to you in reporting a crime and it is the duty of the above authorities to bring before the courts a case against Angu or its officers arising from a breach by Angu of statute law.

In addition you have recourse to the civil law, which would rule on disputes between you and Angu arising when either alleges against the other a damaging breach of these stated Terms and Conditions. Bringing and defending a case under civil law would ordinarily incur costs.

Modern financial services businesses throughout Europe and America tend to be companies which deal in paper based instruments generally called 'securities', and these are subject to increasing legal sophistication and regulation.

Angu’s operation falls outside the defined scope of formal financial services regulation for a number of reasons, including;

• the purchase of physical gold is not a regulated activity under the Financial Services and Markets Act, since gold does not rank as an investment for these purposes
• the grains will be held separately for each buyer and there is no joint or collective enterprise with a view to profiting from gold price movements. The arrangements therefore do not amount to a collective investment scheme or an alternative investment fund
• Angu enjoys an exemption from the regulated activity of “issuing payments instruments” because the grains “…are issued by a professional issuer and allow the holder to acquire goods or services only within a limited network of service providers which have direct commercial agreements with the issuer…”
• Grains fall outside the “executing payment transaction” legislation because this is defined by reference to a movement of funds (defined as banknotes, coins, scriptural money and electronic money) rather than, in the case of grains, the representation of a holding of gold (as opposed to specific monetary value).
• When gold is sold (i.e. on redemption of grains) in order to make a cash transfer to a client, Angu will be the owner of the redeemed grains and will itself be contractually responsible for making payments to the client. Therefore, since Angu will merely be paying its own debt (rather than providing an intermediary service for the movement of money) this activity will not amount to a “money remittance service”.
• The London bullion market is regulated by traditional English property law, and not by the United Kingdom's Financial Conduct Authority.

In the event of an administrative error Angu is entitled, after the event, to make appropriate adjustments to records of your account.

Neither Angu nor you have the right to make profits from a failure in the transaction system.

The Angu system is designed to protect all users from transaction errors. Any errors that do occur should be reported to Angu as soon as possible, whereupon Angu will investigate and remedy any confirmed error that has occurred.

The following provisions set out the entire financial liability of Angu (including any liability for the acts or omissions of its employees, agents and sub-contractors) to you in respect of any breach of these Terms and Conditions or any representation, statement or tortious act or omission including negligence arising under or in connection with these Terms and Conditions.

1. All warranties, conditions and other terms implied by statute or common law (save for the conditions implied by section 12 of the Sale of Goods Act 1979) are, to the fullest extent permitted by law, excluded here from.
2. Nothing in these Terms and Conditions excludes or limits the liability of Angu:
   • for death or personal injury caused by Angu's negligence; or
   • for any matter in which it would be illegal for Angu to exclude or attempt to exclude its liability; or
   • for fraud or fraudulent misrepresentation.
3. Subject to the second and third paragraphs above:
   • Angu's total liability in contract, tort (including negligence or breach of statutory duty), misrepresentation, restitution or otherwise, arising in connection with the performance or contemplated performance of these Terms and Conditions shall be limited to the value of your grain balance; and
   • Angu shall not be liable to you for any pure economic loss, fall in the value of your grains due to a fall in the market gold price, loss of profit, loss of business, depletion of goodwill or otherwise, in each case whether direct, indirect or consequential, or any claims for consequential compensation whatsoever (howsoever caused) which arise out of or in connection with these Terms and Conditions.

It is your responsibility to always pay what relevant taxes are due to the appropriate authorities. Angu is not to be used for tax evasion. Angu will fully assist the appropriate legal authorities in this regard.

Angu shall not be liable to you for any delay or failure by it to perform its obligations if such delay or failure arises from any unforeseeable causes beyond its reasonable control including, but not limited to; acts of God, floods, lightning, earthquakes, labour disputes, shortages, rationing, utility failures, war, terrorism, riot, embargoes, and actions of any government agency or subdivision thereof.

The formal language of the Angu company is English. Although we hope to have the capability to communicate in additional languages in the future this is not guaranteed.

If your requisite formal documents are in a language other than English, you must also provide a certified English translation.

The law governing the provision of the Angu service to the Client is the law of England and Wales and any disputes arising in respect hereof shall be governed exclusively by the English courts.

You also agree to comply with all relevant laws of any territory in which you make use of the Angu service.