Terms & Conditions
Please read carefully the terms & conditions of our Plan before enrolment:
1. The Plan
This is a Special Discount Plan which enables the Customer/Participant to buy jewelry from Keshavji Chhaganlal Jewellers (P) Ltd (hereafter “KCJPL”) showroom on payment of agreed monthly advances. Participants are allowed Eligible Discounts based on their purchase of Gold & Diamond/Platinum jewelry for the 2 Plans mentioned in Table A & B.KCJPL shall not be liable to pay any interest under any circumstances on the monthly advances paid by the participant. KCJPL’s liability is limited to eligible discount (Clause No-3) and the principal amounts only subject to fulfillment of agreed terms & conditions.
2. Min. Advance
This Plan starts with a minimum advance amount of Rs.2000 for Gold Plan and Rs.3000 for Diamond Plan & in multiples of Rs.1000 thereafter. The monthly advance amount shall be fixed from the date of joining and no changes shall be allowed therein.
3. Discount
Participants are allowed a Discount (Ref Table-A/B) equivalent to 35% & 50% of fixed one month advance under 6 months plan and 75% & 100% of fixed one month advance under 10 months plan subject to successful completion of the plan & timely payment of all advances.
4. Migration
Participants enrolled under the 6 months Plan only have option to convert/migrate into 10 months Plan on written request during their respective Maturity Period or earlier. Such Participants shall be entitled to a final onetime 75% or 100% Discount (Ref Table A/B) of their fixed one month installment under the 10 months Plan depending on purchase of Gold or Diamond jewelry respectively.
5. Discount Criteria with Voluntary Exit
Eligible Discounts shall be available to the participants only if jewelry is purchased within 30 days of the Maturity Date of the Plan. All the Participants are required to take Voluntary Exit from their respective Plans (after successful completion) during their expected Maturity Dates with eligible discounts. Eligible Discounts will lapse after 30 days of the Plan Maturity Date. No Participant shall be entitled to any discount under this plan if the purchase of jewelry is deferred 30 days beyond his Maturity Date for any reason under any circumstances.
6. Mode of Payment
Monthly advances can be paid in Cash, PDC’s or ECS/NEFT before the respective due dates.
7. Due Date & Maturity Date
Monthly advances are payable on regular & timely basis within 2 weeks (i.e. before 14th of every month) for every successive calendar month from the date of joining. For E.g. if the date of joining is on 1st Jan 2015, then the 2nd advance shall be payable on and after 1st Feb 2015 but before 14th Feb 2015. The respective Maturity Date of the Plan will be 21st Day after the payment of last advance & subject to timely payment of all advances.
8. Eligible Purchases
The Eligible Discount under the Plan is available to participants only against purchase of Gold/Diamond/Platinum jewelry. Gold/Silver Coins& Bars, Silver jewelry/articles, Gemstones and Gift Cards cannot be purchased with Plan Discount under any circumstances except for Billing done after NO SHOW cases post 30days of Maturity Date (Ref Clause No-11).
9. Refunds
No Cash Refunds are allowed for any advance/’s under any circumstances as to principal or eligible discounts to any participant at any stage.
10. Pre-Mature Exit
In case of pre-mature exit before completion of the agreed plan period, the participant shall be entitled to buy jewelry at our prevailing showroom prices on the date of his purchase and up to the value of his total advance/’s made by him till date, But he shall not be entitled to any Discount mentioned in Clause No-3. No proportionate discount shall be allowed whatsoever for any Pre-Mature Plan exits.
11. No Show Case & Default Exit
In the event of successful completion of payment of all 6 or 10 months advances under the respective plan if the participant does not purchase jewelry within 30 days of the Maturity Date i.e. 51 days from the date of payment of last installment, then the participant agrees to accept a purchase of 24kt Gold Bar at the current selling prices with applicable making charges (if any) plus taxes extra. In this event the account of the Participant shall be settled by Billing/Invoicing and the aggregate of all advances made by him till date shall be applied/adjusted without any eligible discounts therein. The Participant shall not be entitled to any discount benefits and all the applicable statutory provisions (if any) related to sale shall also be applied.
12. Delivery Post Default Exit
Participant/’s who failed to settle their entitlements during their Plan Maturity period or have skipped/deferred purchase of jewelry even after 51 days of payment of their 6th or 10th month advance, shall be deemed to have accepted the Default Exit option (Clause No-11). Such Participant/’s will be required in person to collect a 24ct Gold Coin/Bar along with its Invoice of the value equivalent to aggregate of all his advances made till date and without any eligible discount.
13. Payment of stipulated monthly advances regularly & timely shall be the responsibility of the Participant and KCJPL will not be responsible or liable to send any reminders for payment of such advances or to buy jewelry at maturity date or about lapse of eligible discount to the Participant.
14. Pre-payment of all monthly advances at once shall not constitute any entitlement of eligible discounts under this plan at any stage.
15. The General Gold Exchange Policy can also be availed under this scheme.
16. Any Discount available under this Plan cannot be clubbed with any current or parallel offer/discount running at the store.
17. This Plan is not Transferable & cannot be merged with any other account. The rights & obligations of the Participant cannot be assigned to any other person/’s.
18. On Maturity the Participant undertakes to visit the store personally to buy jewelry with a valid photo id proof, Account card/book and all the receipts of his advances made under the Plan.
19. KCJPL reserves the right to alter, amend, add or delete any part, clause and/or condition of the Plan without any prior notice to the Participants.
20. This Plan shall be subject to all the statutory provisions & government rules and regulations. KCJPL reserves the right to suspend the Plan at any time in the view of any change in the law currently in force and/or any contingent compliance imposed statutorily affecting this scheme. Under such circumstances the Participants shall be given eligible discounts on the Proportionate Basis subject to other compliances by them under this plan.
21. Every Participant is required to make a Nomination in favor of any one person i.e. the Nominee who shall be entitled to take delivery of ornaments in case of death of the Participant. The Nominee shall be required to submit necessary proof of ID & address before taking any entitlements under this Plan. In the absence of a valid nomination, the Legal Heirs or representatives of the deceased participant will be required & eligible to take delivery and make full settlement.
22. Disputes (if any) shall be subject to Jamshedpur Jurisdiction only. Any conditions explicitly not covered above shall be solely at the discretion of KCJPL & its decision shall be final and binding on all Participants.
23. Declaration by Participant
I……………………………………………………. have clearly read, understood & have been explained by KCJPL staff all the above mentioned terms & conditions and shall abide by the same.
I FULLY UNDERSTAND & ACCEPT THAT I SHALL TAKE VOLUNTARY EXIT FROM THIS PLAN WITHIN THE DEEMED MATURITY PERIOD BY PURCHASE OF JEWELRY WITHIN 30 DAYS FROM MY PLAN MATURITY DATE , FAILING WHICH I SHALL ACCEPT SALE OF 24KT GOLD COIN/BAR WITHOUT ANY ELIGIBLE DISCOUNT BEYOND 51 DAYS OF MY 6TH OR 10TH MONTH ADVANCE. THE SALE WILL NOT BE DEFERRED BEYOND 360 DAYS UNDER THIS PLAN UNDER ANY CIRCUMSTANCES.
