Overview
This page explains how Solidus describes purchasing, collection, storage, reconciliation, and insurance in the current operating model. It is meant to work with the Terms of Service and the application status model so customers can understand the difference between an intended operating cadence and the recorded state of a specific holding.
Current operating model
Under the current model, Solidus intends to place bullion orders with Commonwealth Vault twice daily. Purchased bullion is then intended to be collected for storage and placed into safe deposit boxes at Commonwealth Vault, 105 Queen Street, Auckland, once daily. That is why the website and application avoid suggesting that every accepted order is instantly stored or insured. The platform also uses configured minimum funded-order thresholds and quote-level fee visibility so the custody workflow remains commercially sustainable and clear to customers before they proceed.
The application therefore uses staged statuses. An order can be quoted, created, awaiting payment, under compliance review, ready for batch, batched, ordered, awaiting collection, stored, reconciled, insured, cancelled, or redeemed. Customers should rely on the status shown for their own account and any related statement or support confirmation rather than relying on a general description alone.
What “stored” means in Solidus
For Solidus purposes, “stored” means that the relevant bullion has been collected for storage and recorded by Solidus as placed into the relevant safe deposit box or custody arrangement used for that holding. Before that status is recorded, the order remains pending operational completion, even if it has already been ordered or paid for.
Operational targets can still be affected by public holidays, supplier timing, transport constraints, reconciliation delays, security procedures, or other issues outside the ordinary workflow. A delay does not necessarily mean a problem with title or entitlement, but it does mean the status should remain accurate rather than optimistic.
What “reconciled” and “insured” mean
“Reconciled” is intended to mean that Solidus has matched the relevant operational records for the holding and confirmed the internal record is consistent with the current custody record for that stage. “Insured” is intended to mean that Solidus has recorded the relevant insurance event or cover update for the holding or the relevant insured schedule used by Solidus for that category of holdings.
Insurance placement is presently intended to be arranged through Rothbury Insurance Brokers Limited. That description is deliberate. It means Rothbury is being described as the broker or placement adviser, not as the insurer. Insurance remains subject to the final policy wording, insurer acceptance, insured limits, deductibles, exclusions, and any other applicable terms. Customers should therefore not treat a generic reference to insurance administration as proof that a specific holding is already covered.
Role of Commonwealth Vault and third parties
Solidus currently intends to use Commonwealth Vault, 105 Queen Street, Auckland, as the physical location associated with the current storage model. However, unless Solidus expressly agrees otherwise in writing, the customer’s contract is with Solidus rather than directly with Commonwealth Vault, Rothbury, or any insurer. The use of those providers does not by itself create a direct contractual relationship between the customer and those third parties.
Your rights in relation to a holding are determined by your contract with Solidus, the application record, any statement issued by Solidus, and any additional legal documentation expressly provided for the relevant product or holding. If a product or document is intended to create a more specific legal structure, that should be stated explicitly rather than inferred from marketing language.
Statements, records, and supplementary digital tokens
Solidus may provide statements, holdings summaries, audit records, and in some cases a supplementary token or NFT record. Those records are intended to help you understand what has happened in the lifecycle of a holding. They are not a substitute for careful legal wording. In particular, a token or NFT should be treated as supplementary only unless Solidus expressly states in binding terms that particular legal rights attach to it.
If a statement, order status, or support response appears inconsistent with the expected custody state, the customer should ask Solidus to review the matter promptly. Solidus will then investigate the underlying custody, reconciliation, and insurance records rather than relying only on a surface-level display.
Operational exceptions and holds
Solidus may delay a custody-state update where there is a payment issue, compliance issue, transport delay, reconciliation exception, suspected fraud, security issue, insurer administration issue, or another operational discrepancy that needs review. In those cases, the application status should remain accurate to the actual state reached at that time.
If Solidus becomes aware of a material discrepancy or incident affecting a holding, it should take reasonable steps to investigate, correct records where necessary, and communicate appropriately with affected customers.
Customer responsibilities
Customers should read the custody wording together with the Terms of Service, Privacy Policy, Redemption and Withdrawal Policy, and the live application status of their own orders and holdings. Customers should not rely on a public page as if it were a live custody certificate for a specific order. If a customer needs confirmation of the current state of a holding, they should request that through the application or support.