Terms of Service

Effective Date: 8/15/2026

These Refining Terms and Conditions govern materials submitted to Benchmark Refining Group. Benchmark Refining Group is a trade name of True Texas Precious Metal Exchange, LLC, a Texas limited liability company. “Benchmark,” “we,” “us,” and “our” refer to True Texas Precious Metal Exchange, LLC, doing business as Benchmark Refining Group.

By submitting material to Benchmark, you acknowledge and agree to these Terms.

1. Customer Eligibility and Authorization

Our refining services are intended for businesses, professionals, and adults legally authorized to conduct the transaction.

By submitting material, you represent that:

• You lawfully own the material or are authorized by its owner to submit it.

• The material is not connected to theft, fraud, or other unlawful activity.

• The information you provide is accurate to the best of your knowledge.

• You are authorized to accept these Terms on behalf of the submitting business.

Benchmark may request identification, business records, proof of ownership, or other documentation before processing or payment.

2. Preparing and Identifying Material

Different materials or lots should be packaged separately and clearly labeled. Customer-provided descriptions, weights, karats, purities, and estimated values are used for identification only and are not binding on Benchmark.

If material is not adequately separated or identified, Benchmark may combine, classify, or process it in the manner we reasonably determine is appropriate.

Customers must not send hazardous, explosive, radioactive, illegal, or carrier-prohibited material. Dental customers must not include patient names, records, labels, radiographs, or other identifiable health information.

3. Shipping and Delivery

Customers are responsible for properly packaging material and complying with carrier requirements and Benchmark’s shipping instructions.

Unless Benchmark expressly agrees otherwise in writing, risk of loss remains with the customer until the shipment is delivered to and accepted at Benchmark’s designated receiving location. A carrier delivery scan does not conclusively establish the package’s contents, weight, condition, or receipt by Benchmark.

A Benchmark-provided shipping label includes only the insurance or declared-value protection specifically stated in the applicable shipping instructions. Customers should retain shipment records and tracking information until settlement is complete.

4. Receipt and Weight

Benchmark will document the material received using its own intake and weighing procedures. Benchmark’s received weight will control over customer estimates, shipping weights, or weights recorded before shipment.

Gross incoming weight may include stones, moisture, tooth material, base metals, packaging, dirt, residue, and other non-payable material. Gross weight does not represent recoverable or payable precious-metal weight.

Benchmark may reject, quarantine, return, or require special handling of material that is unsafe, prohibited, misrepresented, commercially unsuitable, or outside our processing capabilities. The customer may be responsible for resulting shipping, storage, testing, remediation, or disposal expenses.

5. Authorization to Process

Unless Benchmark accepts written instructions to hold the material before processing, submitting material authorizes Benchmark to begin evaluation and processing after receipt.

Processing may include sorting, weighing, drying, incineration, crushing, sampling, melting, chemical treatment, stone removal, or other procedures. These processes may permanently alter, combine, consume, or destroy the original material, making it impossible to return in its original condition.

Ordinary processing may result in moisture loss, removal of non-metallic material, slag, residue, sampling consumption, and other normal differences between incoming weight and final processed weight.

6. Assay and Settlement

Benchmark will determine precious-metal content using the processing, sampling, and assay procedures it considers appropriate for the material.

Settlement will be based on the material actually received, verified processing weights, assay results, recoverable precious-metal content, applicable payable percentages, market prices, and any agreed fees or charges.

Applicable refining rates, payable percentages, minimums, treatment charges, assay charges, special-handling charges, and other transaction terms may be established through a written quotation, customer program, account agreement, submission form, or other written communication.

Benchmark may correct clerical, mathematical, pricing, or payment errors when discovered.

7. Prices and Price Locks

Website prices, calculators, examples, and estimates are informational only. They are not guaranteed offers or final settlement values. Market information may be delayed or obtained from third-party sources.

A price is locked only when Benchmark provides written confirmation identifying the applicable metal, price, quantity or calculation basis, and effective time. A website calculation, shipment date, carrier acceptance, telephone discussion, or customer request does not create a price lock without Benchmark’s written confirmation.

If no price lock is confirmed, the market-price basis established by the customer’s applicable refining program or transaction documents will apply.

8. Stones and Non-Metallic Items

Stone removal must be requested before processing and may be subject to the applicable stone-removal fee shown on the submission form, quotation, or customer program.

Benchmark will exercise reasonable care but does not guarantee that every stone or non-metallic item can be identified, recovered, or returned without damage. Small, fractured, treated, synthetic, mounted, or low-value stones may be damaged or lost during removal or processing.

Any offer to purchase recovered stones is separate from the precious-metal settlement and is not guaranteed.

9. Settlement and Payment

After processing, Benchmark will provide settlement documentation showing the applicable results and payment amount.

Available payment methods may include ACH, check, wire transfer, bullion trade, or another approved method. Payment availability may depend on verification requirements, transaction size, banking information, and the customer’s refining program.

The customer is responsible for providing accurate payment instructions. Benchmark is not responsible for delays or losses caused by incorrect information supplied by the customer or by circumstances outside Benchmark’s reasonable control.

Title to the processed and recoverable metals transfers to Benchmark upon issuance of the applicable settlement payment unless otherwise agreed in writing.

10. Settlement Questions and Disputes

Customers should review settlement reports promptly. Any objection concerning received weight, assay results, pricing, fees, or settlement calculations must be submitted in writing to Benchmark within five business days after the settlement report is delivered.

Benchmark will review timely disputes using available intake records, processing records, photographs, calculations, and remaining samples, if any. Benchmark is not required to retain processed material or assay samples unless retention was agreed to in writing before processing.

If no written objection is received within five business days, the settlement report will be considered accepted, except for a clerical, mathematical, or payment error that Benchmark later identifies.

11. Limitation of Liability

To the maximum extent permitted by law, Benchmark will not be liable for indirect, incidental, special, punitive, or consequential damages, including lost profits, lost business opportunities, or changes in market prices.

Benchmark’s liability for a claim involving submitted material will not exceed the verified settlement value or reasonably established recoverable value of the material giving rise to the claim.

These limitations do not apply to liability that cannot legally be limited or excluded.

12. Compliance and Transaction Holds

Benchmark may delay, reject, investigate, or hold a transaction when reasonably necessary to verify identity, ownership, payment instructions, source of material, sanctions compliance, suspected fraud, or compliance with applicable law.

Benchmark may cooperate with carriers, insurers, financial institutions, regulators, and law-enforcement authorities when legally required or reasonably necessary to protect Benchmark, its customers, or others.

13. Governing Law

These Terms and the transactions governed by them will be governed by the laws of the State of Texas, without regard to conflict-of-law principles.

Exclusive venue for any legal proceeding will lie in the state or federal courts located in or serving Parker County, Texas, unless applicable law requires otherwise.

14. Additional Terms and Changes

Written quotations, customer programs, account agreements, submission forms, price-lock confirmations, and settlement documents may contain additional terms. Transaction-specific written terms will control if they conflict with these general Terms.

Benchmark may update these Terms periodically. Updated Terms will apply to materials submitted after the revised effective date is posted. Material already received will remain governed by the Terms in effect when it was submitted unless the parties agree otherwise in writing.

If any provision is found unenforceable, the remaining provisions will continue in effect.

15. Contact

Questions about these Terms may be directed to:

Benchmark Refining Group
A trade name of True Texas Precious Metal Exchange, LLC
Email: info@benchmarkrefining.com
Website: benchmarkrefining.com