TERMS AND CONDITIONS FOR THE USE OF THE SAFE DEPOSIT BOXES

This document sets out the Terms and Conditions governing your use of G4 Safe Deposit Boxes. It explains your rights and obligations, as well as those of G4, to ensure clarity, transparency, and security throughout your agreement with us.

CONTENTS OF TERMS

DEFINITIONS
LICENCE
SECURITY
USE OF THE SAFE
RISK
PAYMENT
TERMS
TERMINATION
INSOLVENCY AND CLIENT NOTIFICATION
VARIATIONS OF THIS AGREEMENT
GENERAL

1. DEFINITIONS

1.1 In these Terms and Conditions of Use of the Safe Deposit Boxes the following expressions shall mean:

Group 4 (G4): The trade name under which Cosetti Ltd operates. Cosetti Ltd is a company incorporated in Gibraltar with Company Number 122640, having its registered office at Ground Floor, Leon House, Nº1 Secretary’s Lane, Gibraltar GX11 1AA.
You: Referred to as the “Licensee.”
Authorised User: A person formally registered with G4 and approved by G4, who, with your authorisation, is permitted to access your safe box.
Business Day: Any day not being a Saturday, Sunday or a public holiday in Gibraltar.
Business Hours: The hours during which G4 is open for business, as confirmed to you in writing or as published from time to time on the Website. These hours may be subject to change.
Key: Any key or keys for the lock of the safe handed over by G4 to you or to an authorised user.
Master Key: A key that is kept at all times under the control and possession of G4. It is necessary to open any Safe Box along with the key that is in your, or any authorised user’s possession.
Password: A secret personal code or array of numbers chosen by you and used, together with the Key, to gain access to your safe box.
Premises: Ground Floor, Leon House, 1 Secretary's Lane, Gibraltar, or any other place notified to you, or to an authorised user via email.
Safe Box: The individual safe box, situated in the Premises, for which you are granted a licence to use under your licence agreement with G4.
Website: www.g4boxes.com

1.2 Words importing the singular meaning include, unless the context requires, the plural meaning and vice-versa.
1.3 The headings in these Terms and Conditions of Use of the Safe Boxes are for convenience only and shall not affect its interpretation.
1.4 The Definitions shall be subject to the terms of these Terms and Conditions of Use of the Safe Boxes.

2. LICENSE

2.1 You are granted a personal, non‑exclusive, non‑transferable and revocable licence to use the Safe Box identified in your licence agreement, subject to these Terms and Conditions of Use of the Safe Deposit Boxes and the Privacy Policy. The licence is conditional on completion of G4’s KYC/AML checks and timely payment of all fees.

2.2 Subject to clause 4, you may access the Safe Box to deposit or withdraw articles on any Business Day during Business Hours, in accordance with G4’s security procedures (including presentation of valid identification, use of the Password, the Key, and dual‑control with G4’s Master Key). Access may be temporarily suspended due to maintenance, security events, legal/regulatory requests, or other reasonable operational requirements. G4 may require reasonable prior notice for access.

2.3 You may appoint an Authorised User by submitting G4’s prescribed form. Any appointment is effective only upon G4’s verification and approval and shall remain in force until revoked by you in writing and acknowledged by G4. G4 may refuse, suspend, or terminate an Authorised User’s access where identity, authority, or compliance cannot be satisfactorily verified.

2.4 You are responsible for all acts and omissions of any Authorised User. Any act by an Authorised User within the scope of their authority shall be deemed your act.

2.5 G4 may decline or delay access to the Safe Box, or the deposit/withdrawal of contents, where (a) identity or authority is not satisfactorily established, (b) any fee or amount is overdue, (c) G4 reasonably suspects breach of these Terms or applicable law, or (d) doing so would present a security risk.

2.6 This licence does not confer any tenancy or property interest in the Premises or the Safe Box and does not create a relationship of bailment or custody in respect of the contents. G4 does not have knowledge of, nor control over, the contents except as required by law or under these Terms.

3. SECURITY

3.1 Each Safe Box is fitted with a twin-lock mechanism requiring two different keys to open. G4 shall hand over to you one of the Keys in duplicate (receipt of which you hereby acknowledge) and shall at all times retain possession and control of the Master Key.

3.2 G4 does not hold, and will not supply, any additional copy or duplicate of the Keys handed to you.

3.3 You shall not make, cause, or permit to be made any copies of the Key. Making or possessing an unauthorised copy constitutes a breach of this agreement. If a copy is made, you must immediately notify G4 in writing, surrender the copy to G4, and comply with G4’s written instructions.

3.4 The Safe Box and the Key remain at all times the property of G4. Your rights are limited to the licensed use of the Safe Box in accordance with these Terms and Conditions.

3.5 You must ensure that the Key is kept under your control at all times and is not given to any person other than an Authorised User. You must take all reasonable care to prevent loss, theft, or misuse of the Key.

3.6 You must keep the Password confidential. It may only be disclosed to:
(a) An Authorised User; or
(b) A G4 representative, solely for the purpose of identification to access the Safe Box.

3.7 If any Key is lost, stolen, damaged, liable to misuse, or if the Password is disclosed to an unauthorised person, you must:
(a) Immediately notify G4, confirming in writing within three days if the initial notification was verbal;
(b) Provide all information requested by G4 regarding the circumstances;
(c) Follow, at your own expense, all measures required by G4 to recover the Key or change the Password; and
(d) Pay all costs, charges, and expenses incurred by G4 in forcing open the Safe Box, replacing locks and keys, and taking any related security measures.

3.8 You remain fully responsible for the use of the Key and/or Password until G4 receives written notification as provided in clause 3.7(a). If the Key or Password is used by a person with your, or any Authorised User’s, knowledge, consent, or acquiescence (whether express or implied), you shall be liable for all resulting losses or damages. In such cases, G4 shall have no liability whatsoever to you.

3.9 G4 reserves the right to suspend access to the Safe Box immediately if it reasonably suspects that a Key or Password has been compromised or misused.

4. USE OF THE SAFE

4.1 (a) On presentation of the Key, and subject to clause 4.1 (b), G4 shall permit you or any Authorised User access to the Premises and to the Safe Box to deposit or withdraw property, provided that the Password and signature match the specimen lodged with G4. Access will be granted only during Business Hours on any Business Day and only upon payment of any applicable operation fee as set out in clause 6.1(d) in effect on the date of access. G4 may apply an additional fee for more than four accesses per calendar month.

(b) G4 may, without prior notice, refuse or restrict access to the Premises or the Safe Box for reasons including but not limited to: security concerns, legal or regulatory requirements, non-payment of fees, breach or suspected breach of this agreement, or operational requirements.

(c) G4 shall not be liable for any loss, damage, or inconvenience arising from any refusal or restriction of access under clause 4.1(b).

4.2 You may deposit in the Safe Box any property, deeds, or documents except:

Dangerous, toxic, explosive, or inflammable substances
Articles hazardous to health
Items prohibited by law or regulation
Any items listed in the Illegal and Prohibited Items List maintained by G4 (available on the Website), as amended from time to time at G4’s sole discretion

If you breach this clause, you agree to indemnify G4 in full against all damages, losses, claims, demands, expenses (including legal and professional fees), costs, and liabilities arising as a result, including but not limited to injury, property damage, or regulatory action.

If G4 reasonably suspects that you have deposited any prohibited or unlawful items, G4 reserves the right to inspect the Safe Box in the presence of a notary public and/or a law enforcement officer. In cases of urgency or legal requirement, G4 may inspect the Safe Box immediately with an authorised third party present.

4.3 G4 does not guarantee that the temperature, humidity, or any other physical or atmospheric condition of the Safe Box or the Premises will be suitable for the storage of any property. The safekeeping, preservation, and insurance of the contents remain entirely your responsibility. G4 shall not be liable for any loss, deterioration, or damage to any property deposited in the Safe Box, howsoever caused, except as may be required by law.

4.4 You must comply with all legal and statutory requirements relating to the storage of property deposited in the Safe Box and indemnify G4 in full for any losses or costs resulting from non-compliance.

4.5 You may not modify, tamper with, or damage the Safe Box, its locks, Keys, or any means of identification. Any unauthorised alteration will be treated as a material breach of this agreement.

4.6 You shall ensure that each Authorised User complies with all security, safety, and operational regulations in force at the Premises. You are fully liable for any loss, damage, or injury caused by any Authorised User.

4.7 You shall indemnify G4 in full, before and after the expiry or termination of this agreement, for all losses, claims, and costs arising from any breach by you or an Authorised User of these Terms or any negligent or unlawful act.

4.8 G4 may disclose information about your Safe Box to any governmental, regulatory, or law enforcement authority, or to any court, as required by law.

4.9 Additional services offered by G4 may be subject to separate terms and conditions. G4 may suspend any such services if your Safe Box licence is suspended or terminated.

5. RISK

5.1 Except in respect of loss, damage, or destruction directly and solely caused by the wilful negligence or wilful misconduct of G4’s employees acting within the course of their employment, you agree that any property you lodge in the Safe Box is deposited entirely at your own risk.

5.2 You shall, at your sole cost, obtain and maintain adequate and appropriate insurance coverage for the full value of all property deposited in the Safe Box. You must ensure that nothing is done or omitted which might invalidate your insurance or any insurance taken out by G4 (without imposing any obligation on G4 to arrange or maintain such insurance).

5.3 You hereby acknowledge and agree that, subject as expressly provided in this agreement, all warranties, conditions, or other terms expressed or implied whether by ordinance, statute, common law, or arising in any other manner whatsoever are excluded to the fullest extent permitted by law.

5.4 G4 shall not be liable to you for any indirect, incidental, or consequential loss or damage, including but not limited to loss of profit, loss of business, or loss of opportunity, arising from or in connection with the provision of services under this Agreement. This exclusion applies whether the claim arises in contract, tort (including negligence), breach of statutory duty, or otherwise, except as expressly provided herein.

5.5 Subject to clause 5.4, if you suffer direct loss caused solely by the wilful negligence or wilful misconduct of G4’s employees or contractors, and you provide G4 with satisfactory written evidence of:
(a) the occurrence of such loss; and
(b) the verified value of the property concerned;
then G4 shall compensate you for such loss, but in no event shall G4’s total liability exceed £25,000 in aggregate per annum for all claims by you.

5.6 You acknowledge that you have been informed of, and understand, the nature and limitations of the facilities and safekeeping services provided by G4, and you accept and agree to store your property entirely under these conditions.

5.7 Nothing in this Agreement shall exclude or limit any liability which cannot lawfully be excluded or limited.

6. PAYMENT

6.1 In consideration of our granting you access and a licence to use the Safe Box, you agree to pay G4:
(a) A deposit (refundable subject to clause 6.2 upon expiry or termination of this agreement) in the amount specified on Deposit Amounts, which is subject to change.
(b) An annual rental fee, payable annually in advance. The first payment is due upon execution of this licence, with subsequent payments due on or before each anniversary.
(c) An additional annual fee for each Authorised User, payable as per clause 6.1(b).
(d) An operating fee for each access beyond the monthly limit of four, as specified on Fees, payable in advance before each operation.
(e) Any other service fee for optional services you book with G4.

6.2 If you fail to pay any sum due under this agreement, without prejudice to any other rights or remedies available under the laws of Gibraltar, G4 may, without notice:
(a) Apply all or part of your deposit under clause 6.1(a) towards the outstanding amount;
(b) Open the Safe Box and sell any property contained in it at the best price readily obtainable (you shall not be entitled to claim damages in respect of such sale). After deducting all reasonable selling expenses, G4 may apply the proceeds towards your outstanding liability. Any excess will be returned to you. If the proceeds are insufficient to cover the debt, you remain liable for any shortfall;
(c) Revoke your licence to access the Safe Box.

6.3 Detailed fee schedules are available on our website’s Pricing page. Accepted payment methods include credit card and bank transfer.

6.4 Nothing in this clause limits G4’s right to recover outstanding sums through legal proceedings.

7. TERMS

G4 is not a financial entity and is therefore not regulated by the financial services legislation of Gibraltar or any other jurisdiction.

7.1 G4 grants you access to, and a licence to use, the Safe Box for an initial term of one (1) year from the date of this agreement, subject to clauses 4, 7, and 8. This agreement will automatically renew for successive one-year terms unless either party provides written notice of termination in accordance with clauses 7, 8, or 10.6.

7.2 The provisions of this agreement shall continue to apply to any extension of its terms save to the extent that these are varied by G4 or any new conditions are imposed by G4. If any such variation or new condition is not acceptable to you, you will notify G4 in writing and this agreement shall terminate on the expiry of the initial period or extended period, as the case may be, and accordingly it shall not be renewed.

7.3 If you do not accept any amendment or new condition under clause 7.2, you must notify G4 in writing within fourteen (14) days of receiving such notice. In that case, the agreement will terminate at the end of the current term and will not be renewed.

7.4 Failure to provide notice under clause 7.3 will be deemed acceptance of the amended or new conditions.

8. TERMINATION

8.1 You may terminate this agreement by providing G4 with no less than thirty (30) days’ prior written notice.

8.2 G4 may terminate this agreement at any time by giving you ninety (90) days’ prior written notice via email. You must remove all property from the Safe Box within the notice period. If you fail to do so, G4 may open the Safe Box and transfer its contents to secure storage at your sole cost and risk.

8.3 G4 may terminate this agreement immediately, without prior notice, by written communication to you if:
(a) You breach any provision of this agreement and, if remediable, fail to remedy such breach within seven (7) days of written notice from G4;
(b) An encumbrancer takes possession, or a receiver, administrator, or similar officer is appointed over any of your property or assets;
(c) You make any voluntary arrangements with creditors, become insolvent, or are subject to any insolvency or bankruptcy proceedings;
(d) You are a company and you go into liquidation, are wound up, or cease or threaten to cease carrying on business;
(e) You are convicted of any criminal offence or any offence involving dishonesty, moral turpitude, or likely to damage G4’s reputation; or
(f) G4 reasonably believes that continuing the agreement would breach applicable laws or regulations, or expose G4 to regulatory, reputational, or security risk.

8.4 Upon expiry or termination of this agreement, you must immediately:
(a) Withdraw all property from the Safe Box;
(b) Cease all use of the Safe Box;
(c) Return all Keys issued to you or any Authorised User to G4 (or as G4 directs);
(d) Pay all outstanding sums owed to G4, including damages, fees, and costs.

8.5 If you fail to comply with clause 8.4, you will continue to pay G4, from the termination date until compliance, a sum equivalent to the annual rental rate (calculated pro-rata). This payment does not grant any right to continued use of the Safe Box.

8.6 Termination or expiry of this agreement does not affect any rights, remedies, obligations, or liabilities of either party that have accrued up to the date of termination.

9. INSOLVENCY AND CLIENT NOTIFICATION

9.1 In the unlikely event that Group 4 Safe Deposit Boxes Ltd (the “Company”) enters into bankruptcy, liquidation, administration, or any similar form of insolvency, the Company’s appointed legal representative shall contact all active clients using the most recent contact details provided by each client in their rental agreement.

9.2 The Company’s legal representative will inform clients of the situation and make appropriate arrangements for clients to access their safe deposit boxes under supervision. Access shall be conducted in the presence of the appointed legal representative and, where applicable, an independent witness, to ensure the integrity and security of the process.

9.3 Clients will be permitted to remove the contents of their safe deposit boxes in a secure and orderly manner. The Company and its representatives shall take all reasonable measures to facilitate this process with due discretion and transparency.

9.4 In respect of any assets stored through the Company’s vaulting service, any losses arising as a direct consequence of such insolvency or liquidation shall be covered under the Company’s insurance policy, subject always to the policy’s applicable terms, limits, and proof-of-value requirements.

10. VARIATIONS OF THIS AGREEMENT

10.1 G4 may vary the terms of this agreement, or any instructions or directions regarding the use of the Safe Box, at any time, whether or not such variations are made to agreements with other customers. All changes will be published on the G4 website under Safe Boxes Terms and Conditions and will take effect immediately upon posting. It is your responsibility to review the current terms and conditions regularly. G4 will only provide separate written notice in the event of significant changes which, in G4’s reasonable opinion, materially affect your rights or obligations under this agreement.

10.2 G4 reserves the right to vary any facility or service provided to you or to introduce additional charges for services at any time. Any such changes will be posted on the G4 website and will take effect immediately unless otherwise specified.

10.3 G4 does not guarantee that any benefits, facilities, or services (including but not limited to opening hours) will continue indefinitely. These may be withdrawn or amended at any time without prior notice.

11. GENERAL

11.1 G4 may enforce its rights and obligations under this agreement at any time.

11.2 This agreement is personal to you, and you may not assign your rights or obligations under it, nor sub-let or otherwise delegate any of your obligations hereunder.

11.3 You will not, without G4’s prior written approval, authorise any person to use the Safe Box. Doing so will give that person the rights of an Authorised User, and every act or omission of an Authorised User shall, for the purposes of this agreement, be deemed to be your own.

11.4 You must immediately notify G4 in writing of any changes in your name or address via email or postal mail.

11.5 G4 shall not be liable if it is unable to perform its obligations under this agreement due directly or indirectly to the failure of any system or machine, repairs to the premises, or any circumstances beyond its reasonable control (including, without limitation, any strike, lock-out, or other form of industrial action, or any dispute with contractors).

11.6 If any provision of this agreement is held by any court or other competent authority to be void or unenforceable in whole or in part, the remaining provisions shall continue in full force and effect.

11.7 Any notice or other information required or authorised by this agreement to be given by either party to the other may be delivered by hand or sent by first-class prepaid post, email, or comparable means of communication to the address referred to in clause 1, or to such other address as may be notified in writing by the receiving party.

11.8 (a) This agreement shall be governed by and construed in all respects in accordance with the laws of Gibraltar, and each party hereby submits to the non-exclusive jurisdiction of the Gibraltar Courts.
(b) Without prejudice to the above, G4 reserves the right to bring proceedings against you in any other court with jurisdiction over the subject matter of the dispute.

11.9 Dispute Resolution: In the event of a dispute arising from these Terms, both parties agree to first seek resolution through mediation or arbitration before pursuing legal action in the courts of Gibraltar.

11.10 Language: These Terms and Conditions may be provided in multiple languages for convenience. In the event of any discrepancy or conflict between the English version and any translation, the English version shall prevail.

11.11 Acceptance of Terms: By entering into this agreement, paying the required fees, or otherwise using G4’s safe deposit box services, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions. Your continued use of the Safe Box constitutes ongoing acceptance of any applicable changes made in accordance with clause 10.