“Gold SIP Scheme”

Terms & Conditions

1. The Gold SIP Scheme (hereinafter “Gold SIP”) offered by SARVADA JEWELLERS Jewellers Pvt. Ltd. facilitates customers to purchase jewellery on installments from the showroom of SARVADA JEWELLERS Jewellers on the terms and conditions contained herein.

Earn up to 100% of one month’s installment at the end of the scheme.

2. The scheme is an installment scheme. Under the scheme, the customer is required to pay fixed monthly installment of minimum of Rs. 1,000/- (Rupees One Thousand) and maximum of Rs.50,000 (Rupees Fifty Thousand) (in multiples of Rs. 500/- Five Hundred) for the period 11 months. During the period the customer has to pay one installment every month.

3. For this Scheme, the date of payment of first installment shall be deemed as the Enrolment Date.

4. The Scheme will mature after 30 (Thirty) days from the date of payment of the last Installment of Gold SIP and the Customers will be eligible to redeem by purchase of jewellery from the Showroom of SARVADA JEWELLERS Jewellers. The Customer is mandatorily required to redeem his/her account within 1 (one) months from the date when the maturity starts.

5. The customer would be eligible for the Benefit if all prescribed installments paid timely. If a Customer redeems before the completion of period of the scheme, the customer will be eligible for a prorated benefit based on the month up to which he had paid all the installments.

Customer will have to make the payment of the installment on the Due Date. For the purpose of this Scheme, the Due Date shall be same date as the Enrolment Date for the subsequent months. However, the Customer shall be provided with a grace period of 15 (Fifteen) days in a month for payment of the installment. In the event the Customer fails to pay the installment within the grace period, the benefit as offered herein shall be reduced.

6. In case the Customer does not redeem within 1 months start from maturity date, he/she will be provided with refund or a voucher of amount aggregating all the installments paid by the Customer until the date of the voucher. A discount voucher for the applicable discount amount will be provided which can be utilized only to purchase jewellery from the Company of a value that is equal to or greater than the full value of installments paid.

7. The final product invoice value should be equal to or in excess of purchase eligibility amount.

8. Cash Refund generally not available under this scheme, but the Refunds under the Scheme, if any, will be made by way of cheque in the name of the account holder as specified in the Enrolment Form or by online transfer to the bank account as specified in the Enrolment Form, and no cash refund shall be permissible.

9. Gold rate booked or charged on the invoice may vary city wise depending on the corporate gold rate applied by the Company. The rate of gold shall be based on the Company’s rate of gold prevailing on the date of purchase.

10. Only individuals can enroll in to the Scheme and enrolment is not permissible for other entities like companies, partnership firms or proprietorship concerns or Trusts or Hindu Undivided Family (HUF) or NRI Customers. Minors may enroll only through their natural guardians.

11. Customers cannot enroll with any money borrowed by him from any other persons.

12. Enrolment may be through offline mode, i.e., at the SARVADA JEWELLERS Jewellers Showroom, or online by registering on the Mobile Application of SARVADA JEWELLERS Jewellers Pvt. Ltd.

13. The Customer is required to provide a copy of his/her photo identity and address proof documents like Driving License/Voter ID/ Passport /Ration Card/PAN Card/any other document issued by the Government, bank account details, etc. at the time of enrolment.

In case of any change in contact or address details or any other details that the Customer may have furnished, the Customer shall immediately update to the company effecting the changes.

The Customer should especially ensure that the name is as per the identity proof provided by the Customer, and not in any other name, including nickname or short forms and the bank account details and other details as provided in the Enrolment Form shall be accurate.

14. SARVADA JEWELLERS Jewellers reserves right to verify the identity of the Customer by means of SMS and/or OTP generation or by any other means at any time including at the time of enrolment and at the time of concluding the purchase and taking the delivery of the jewellery. SARVADA JEWELLERS Jewellers also reserves the right to verify the authenticity of the documents provided by the Customer.

15. Payment of monthly installment(s) may be made by cash, credit / debit cards, NEFT/RTGS, local cheques in favor of “SARVADA JEWELLERS Jewellers Pvt. Ltd.” payable in the city in where the SARVADA JEWELLERS Jewellers Showroom in which the account was opened is located, ECS (Electronic Clearing Service). International card for online payment will not be accepted. In case of cheque dishonor, the bank charges shall be borne by the Customers. SARVADA JEWELLERS Jewellers shall not be responsible for any online payment failure and money being debited from the Customer’s account. Customers are requested to check with their banks or other service providers for such payment failures. It is the responsibility of the account holder to enter details correctly.

16. Amount of deposit of Rs. 2 Lakhs and above shall be accepted by way of cheque, bankers cheque or by way of electric fund transfer to the designated account of the Company.

17. The Company or the SARVADA JEWELLERS Jewellers will not be responsible or liable to send reminders for payments.

18. At the time of purchase of jewellery, the account holder has to personally come and should produce a valid photo identity proof and PAN Card. The Company reserves the right to satisfy the identity of the Customer in any manner it deems fit.

19. The customer will have to purchase the jewellery for the total installments amount paid and partial purchase is not allowed.

20. The Customer may appoint a nominee at the time of enrolment upon submission of relevant documentation. In the event of death of the account holder, the amount is transferable by the Company only to the person(s) whose nomination has been filled by the account holder in the Enrolment Form at the time of opening the account subject to such nominee producing identity and address proof. In case the account holder does not nominate any person, any claim(s) made by any other person(s) on behalf of the accountholder will not be entertained unless such person being a legal heir/duly authorized person claiming the benefits under the Scheme, shall produce below documents to the Company:

1. Death certificate of the deceased.
2. Succession Certificate.

iii. NOC from other surviving legal heir for redemption.

1. Indemnity undertaking to indemnify SARVADA JEWELLERS Jewellers from claims.
2. Will (if any).
3. Along with all other supporting documents and clarifications.

However, the decision of the Company shall be final on sufficiency of any document in all such Cases above and the same shall be binding upon the claimants.

21. The Company reserves the right to alter, amend, add or delete part or whole of the privileges of the Scheme without prior notice to the account holder, as long as the same is not detrimental to the interests of the account holder.

22. The Company is the operator of this Scheme and reserves the right to suspend the Scheme at any time. In any such event, the account holder may purchase any item at the SARVADA JEWELLERS Jewellers Showroom equal to the value of the installments accumulated in his/her Scheme account along with discounts accumulated, as on that day.

23. The liability of the Company or its branch or its stores under the scheme is limited to the extent of installments/advances paid by the account holder(s) and the discount, as per the Scheme and the terms and conditions contained herein, and thus does not lead to any other assurance or warranty whatsoever by the Company.

24. Any conditions that are not explicitly covered above would be the discretion of the Company at the time of transaction/redemption. The decision of the Company in this regard would be deemed as irrevocable and final.

25. Disputes if any will be subject to the Courts in RANCHI jurisdiction only, to the exclusion of any other court’s jurisdiction.

• In case of any change in existing laws, rules, Acts, etc. by any regulatory authority, the Company reserves the right to make such modifications/change/suspend/discontinue the Scheme suitable to the change of law and necessary requirements as per the same have to be complied with by the account holder.

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