SAFETY DEPOSIT BOX RENTAL AGREEMENT

1. Introduction

This Safety Deposit Box Rental Agreement (“Agreement”) governs the rental and use of safety deposit boxes provided by VIP Vaults & Bullion Exchange Perth (“VIP Vaults”, “we”, “our”, or “us”).

By renting a Safety Deposit Box, the Customer agrees to comply with all terms and conditions contained in this Agreement.

2. Eligibility

To rent a Safety Deposit Box, the Customer must:

  • Be at least 18 years of age.
  • Provide valid government-issued photo identification.
  • Provide proof of residential address if requested.
  • Complete all identity verification procedures required under Australian law.
  • Agree to these Terms and Conditions.

VIP Vaults reserves the right to refuse any application without providing reasons where permitted by law.

3. Rental Period

Safety Deposit Boxes may be rented for:

  • Monthly
  • Quarterly
  • Six-Monthly
  • Annually

The rental commences on the date of payment.

Rental fees are payable in advance.

4. Renewal

Rental renewals must be completed before the expiry date.

Failure to renew may result in:

  • Suspension of access
  • Late fees
  • Default procedures outlined in this Agreement.

5. Rental Fees

Rental fees are published on our website and may change from time to time.

Additional fees may apply for:

  • Lost key
  • Damaged lock
  • Forced opening
  • Replacement lock
  • Administration charges
  • Late payment

All fees are payable before services are provided.

6. Security Deposit

Where applicable, VIP Vaults may require a refundable security deposit for keys or access devices.

The deposit will be refunded after:

  • All keys are returned.
  • The box is vacated.
  • No outstanding charges remain.

7. Access to the Safety Deposit Box

Customers may access their box only during published business hours.

VIP Vaults reserves the right to:

  • Require appointments during busy periods.
  • Verify identification before each access.
  • Refuse access if satisfactory identification cannot be produced.

8. Authorised Users

Only:

  • the registered customer, or
  • authorised persons nominated in writing

may access the box.

VIP Vaults may request identification from every authorised user.

9. Joint Holders

Where multiple renters are registered:

  • each holder may access the box independently unless otherwise agreed in writing;
  • all renters remain jointly and severally responsible for rental fees and obligations under this Agreement.

10. Keys

Each Safety Deposit Box is issued with the designated access credentials determined by VIP Vaults.

The Customer agrees to:

  • keep all keys or access devices secure;
  • not duplicate keys without written consent;
  • immediately report any loss, theft, or suspected compromise.

Replacement keys, lock changes, emergency access, or drilling required due to lost or compromised keys may incur applicable fees.

11. Prohibited Items

Customers must NOT store:

  • Firearms
  • Ammunition
  • Explosives
  • Dangerous chemicals
  • Radioactive materials
  • Illegal drugs
  • Stolen property
  • Counterfeit currency
  • Hazardous waste
  • Perishable goods
  • Living animals
  • Any item prohibited under Australian law

VIP Vaults reserves the right to notify relevant authorities if unlawful items are suspected or discovered in accordance with applicable law.

12. Customer Responsibility

The Customer is solely responsible for:

  • deciding what is stored;
  • ensuring all stored items are lawful;
  • packaging items appropriately;
  • maintaining confidentiality regarding box contents.

VIP Vaults does not record or verify the contents of any Safety Deposit Box.

13. Privacy of Box Contents

VIP Vaults has no knowledge of the contents of any Safety Deposit Box unless disclosure is required by law or access is authorised under this Agreement.

14. Insurance

VIP Vaults does not automatically insure the contents of any Safety Deposit Box.

Customers are solely responsible for arranging and maintaining their own insurance cover for all items stored.

VIP Vaults strongly recommends obtaining adequate insurance from an independent insurer.

15. Limitation of Liability

To the maximum extent permitted by law, VIP Vaults shall not be liable for any direct, indirect, incidental, special, or consequential loss arising from:

  • theft;
  • fire;
  • flood;
  • natural disasters;
  • acts of terrorism;
  • war;
  • power failures;
  • equipment malfunction;
  • government action;
  • civil disturbances; or
  • any event beyond our reasonable control.

Nothing in this Agreement excludes any rights or remedies that cannot be excluded under Australian Consumer Law.

16. Force Majeure

VIP Vaults shall not be liable for any delay or failure to perform its obligations where such delay or failure results from events beyond its reasonable control, including natural disasters, pandemics, industrial disputes, utility failures, cyber incidents, government actions, or other force majeure events.

17. Non-Payment

If rental fees remain unpaid after the due date, VIP Vaults may:

  • suspend access to the Safety Deposit Box;
  • apply late payment fees;
  • issue reminder notices;
  • commence recovery action;
  • exercise any rights available under applicable law regarding unpaid rentals.

18. Abandoned Boxes

Where a Safety Deposit Box remains unpaid or abandoned for an extended period, VIP Vaults may take action permitted under applicable Western Australian law, including opening the box, inventorying contents where appropriate, storing items, or otherwise dealing with the contents after providing any legally required notices.

19. Death or Incapacity

If the Customer dies or loses legal capacity, access to the Safety Deposit Box will only be granted to authorised representatives upon production of legally acceptable documentation, such as probate, letters of administration, or another court-recognised authority, together with satisfactory identification.

20. Emergency Access

VIP Vaults may access or permit access to a Safety Deposit Box where required by:

  • a court order;
  • a warrant;
  • lawful direction of a government authority;
  • emergency circumstances involving immediate risk to safety or property; or
  • any other legal obligation.

21. Termination

Either party may terminate the rental agreement.

Upon termination, the Customer must:

  • remove all contents;
  • return all keys or access devices;
  • pay any outstanding charges.

Boxes not emptied after termination may be dealt with in accordance with applicable law.

22. Changes to These Terms

VIP Vaults may amend these Terms from time to time.

The latest version will always be available on our website.

Continued use of the Safety Deposit Box constitutes acceptance of the updated Terms.

23. Governing Law

This Agreement is governed by the laws of Western Australia.

Any disputes shall be subject to the exclusive jurisdiction of the courts of Western Australia.

Customer Declaration

By signing this Agreement or by renting and using a Safety Deposit Box, the Customer confirms that they:

  • have read and understood this Agreement;
  • agree to comply with these Terms;
  • understand that VIP Vaults does not insure the contents of the Safety Deposit Box unless expressly agreed in writing;
  • acknowledge responsibility for all items placed in the Safety Deposit Box; and
  • agree to pay all applicable rental fees and charges.