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Terms and Conditions of Purchase for Online Transactions

TERMS AND CONDITIONS OF PURCHASE FOR ONLINE TRANSACTIONS (Applicable to Online Purchase Transactions Only)

(Last revised September 21st, 2017)

These Terms and Conditions of Purchase for Online Transactions ("Terms and Conditions of Purchase for Online Transactions") set out the terms and conditions that apply to and govern your use of the Site to (i) seek valuation services for your loose natural diamond(s) and/or natural diamond jewelry; (ii) offer IIDV the right to purchase loose natural diamond(s) and/or natural diamond jewelry, and (iii) sell such products online to IIDV (collectively "Purchasing Services"). The Purchasing Services are Services of the Site. In order to use these Purchasing Services, you must accept, and agree to abide by these Terms and Conditions of Purchase for Online Transactions, which supplement the Terms that govern the Site. 

Consumers are reminded that as an alternative to selling online via this website, they can take their Articles to an approved third party participating retailer. Details of approved participating retailers can be found on this website. 

 

1. Purchase Conditions 

The Purchasing Services offered through the Site are made available as follows: 

  • Seller Eligibility: The Purchasing Services are available only to individuals aged 19 years of age or older who are residents of, and physically located in, the United States of America ("US"), its territories and possessions ("Seller"). Individuals who are 19 years of age or older, but deemed to be a minor in their local jurisdiction must obtain written and acceptable parental/legal guardian consent in order to be a Seller and use the Purchasing Services. The Purchasing Services are available to private consumers acting in a personal capacity only. This means that the Purchasing Services on this website are not available to those conducting commercial/business activities including, but not limited to, companies (diamond companies or others) or individuals acting on behalf of companies (diamond companies or others) undertaking commercial/business activities. IIDV reserves the right to perform additional checks to verify that the Seller is a genuine private consumer.
  • Articles Accepted:
    • The Purchasing Services are offered only in connection with a customer’s offers to sell (i) loose natural polished diamonds (as that term is defined in ISO 18323) or (ii) diamond jewelry or other articles containing natural polished diamonds, e.g., mounted natural polished diamonds in conjunction with gems ("Article(s)").
    • Therefore, Purchasing Services are not available for any lab-created diamonds, simulants or treated diamonds provided however that if an Article includes at least some natural diamonds IIDV may purchase the entire Article (e.g., with natural diamonds, other gemstones and the mounting).
    • Further, IIDV will not purchase any Articles that do not contain at least in part some natural polished diamonds.
  • Supporting Documentation: IIDV requires supporting documentation, including without limitation a copy of Seller's proof of identification (passport, US State/Territory issued ID, US State/Territory Issued Driver's License) current and valid, issued by a duly authorized government authority, a clear picture of the Article to be offered, and other information in order to process a transaction or verify a Permitted Seller's eligibility to utilize the Purchasing Service. The Seller is responsible for providing all such requested information and IIDV shall not be responsible for any losses or damages which may be suffered by an otherwise eligible Seller in the event any such information or materials are not provided. In addition in the case of any proposed transaction involving (i) the sale by Seller and Seller has provided us with a Non-US passport as Seller's proof of identification; and/or (ii) the sale or proposed sale of Articles by Seller to us having a transaction amount of Ten Thousand Dollars ($10,000.00) or greater, IIDV reserves the right to require Seller to provide us with additional supporting documentation in the form of a utility bill that is current (issued within the past three (3) calendar months) (being any of a copy of a gas bill, electric bill, water bill, telephone landline bill, or bank statement) which shows Seller's name and current location/residence within the US.
  • Unsetting of Mounted Articles: Seller agrees and acknowledges that in the case of set or mounted Article(s) we will as part of the evaluation process remove the diamonds and gemstones from the setting for inspection and may leave the diamonds or gemstones in an un-set or un-mounted condition. In the event Seller and/or we do not agree to enter into a sales transaction (e.g., Seller rejects the MPQ, or Seller fails to meet the conditions required for eligibility) Seller agrees and acknowledges that any Article(s) may be returned to Seller in the un-set or un-mounted condition and it will be Seller's sole cost, expense and responsibility to re-set or re-mount the Article(s) if Seller so desires.

 

2. Restrictions, Representations and Warranties 

  • No Illegal / Criminal Purposes: Seller shall not use this Site or the Purchase Services for any illegal or criminal purpose, including without limitation to traffic in or to attempt to traffic in any stolen goods. We reserve the right to report any criminal or illegal activity, or any activities involving or related to Seller's use of the Site that we have reason to believe may be criminal or illegal, to any and all applicable governmental authorities, federal, state or local, including without limitation by disclosing Seller's identity and the information that Seller has submitted to us through the Site. In the event IIDV determines or has reason to believe that Seller has provided or attempted to provide it with stolen articles or merchandise IIDV reserves the right to not return such stolen articles or merchandise to Seller and to cooperate with the appropriate legal authorities in disposing of the stolen articles or merchandise in accordance with applicable laws.
  • Representations and Warranties. By using this Site and the Purchasing Services Seller represents and warrants that Seller is acting (i) exclusively on Seller's own behalf and not as another's agent or representative; and/or (ii) if on another's behalf, Seller is acting as an attorney-at-law or an attorney-in-fact by a duly executed written Power of Attorney or appointment in writing as Trustee or Executor, with full legal authority to carry out the transactions contemplated by this Site and these Terms and Conditions of Purchase for Online Transactions. In all cases Seller represents and warrants to us that Seller: (i) is the actual legal owner of all right title and interest in and to any and all Articles that Seller offers to sell or sell to us, free and clear of all claims, liens, and/or encumbrances, or (ii) fully authorized by law to transfer on another's behalf to us all right title and interest in and to any and all Articles that Seller on another's behalf offers to sell or sells to us, free and clear of all claims, liens, and/or encumbrances.

 

3. Purchasing Procedures

There are two options for selling: selling online via this Site or selling to participating retailers. Information on selling to participating retailers can be found on this website, including details of participating retailers and the services they offer.

All offers to sell and sales of Article(s) to IIDV through the Site are subject to the following: 

  • Submitting the Offer: From the Site, Seller must select the Sell Now button and complete the Submission Form (the "Submission Form"). The Submission Form requires the Seller to provide information for each Article Seller wishes to offer to sell, as well as Seller’s details (name, address, email, etc.). In addition, Seller must confirm agreement (by 'ticking the boxes' as indicated) to the Terms and Conditions of Purchase for Online Transactions and the Agreement to Un-Setting. On submission, a secure account will be created for Seller and Seller can access Seller's account (using the secure account access information we will then send to Seller) via the online portal (the "Portal") by clicking on the login button.
  • Review Offer for Eligibility: If IIDV determines that Seller's Offer includes a valid US address (P.O. box addresses will not be accepted) and includes a potentially eligible Article, an email will be sent to Seller to indicate that a FedEx shipping label is available on the Portal, together with packing instructions. IIDV shall make reasonable efforts to ensure that shipping label is issued within one (1) business day. If your submission of the Submission Form fails to meet the minimum initial eligibility required for further consideration Seller will be notified via email.
  • Shipment of Article to IIDV for Evaluation: Seller is responsible for packing and shipping the Article to IIDV in accordance with IIDV's packing instructions and using the FedEx shipping label provided. IIDV will only accept receipt of Articles shipped using the FedEx shipping label provided by IIDV. Shipping label expires 7 days after the date of the issue of the shipping label. Parcels sent after the 7 day period using the shipping label provided by IIDV will be refused, not opened or inspected by IIDV and returned to sender. Articles sent to IIDV other than in accordance with the terms above will be refused, not opened or inspected by IIDV and returned to sender. IIDV will provide for insurance at its cost via a third party insurer for the shipment of the Article(s) to cover accidental damage to the Article(s) that may occur during shipment or while the Article(s) are within IIDV's possession, custody or control. The amount of insurance will be determined by IIDV in its reasonable discretion and will be based on a review of the information about and picture of the Article provided by Seller and based upon IIDV's experiences. IIDV will provide a good faith assessment of the insurance amount for these purposes; however, IIDV shall not be liable for any discrepancy or under-insured amounts. The insurance amount will be communicated to Seller via email: if the Seller does not object then this insurance amount will be considered as accepted by the Seller. IIDV shall reimburse Seller for any accidental damages that are caused to the Article(s) while being transported or while the Article(s) are within IIDV's possession, custody or control, up to the amounts of the insured amount and provided that such Article(s) are shipped in accordance with IIDV's instructions.  Except as otherwise expressly set forth in these Terms and Conditions of Purchase for Online Transactions, neither IIDV nor its affiliates shall have any other responsibility or obligation to the Seller in connection with accidental damages to Article(s).  Seller must disclose to IIDV if they have other insurance that may be primary and may provide coverage for loss of or damage to the Article(s).  Seller agrees and acknowledges that the Article(s) will be un-set as set forth above and that the un-setting of the Article(s) shall not be considered as damage to the Article(s) for these purposes.
  • Receipt of Articles: Sellers may track the status of their shipment on the Portal or via the website of the courier. IIDV shall use reasonable efforts to notify Seller by email upon receipt of an Article. Articles received by IIDV shall be opened under video monitoring and reconciled against the Submission Form. Losses resulting from a package arriving in good order with no signs of tampering will not be covered. IIDV may reject, in its sole discretion, any package which is damaged, opened or appears to have been tampered with during transport. In addition, IIDV may reject items which do not conform with the information submitted as part of Seller's Offer.
  • Valuation and the MPQ: IIDV shall review, test and evaluate each Article received. Articles that are mounted on jewelry settings may be unset by IIDV. Seller shall be notified by email and via the secure account on the Portal once a Market Price Quote™ ("MPQ") offer to purchase has been issued by IIDV. IIDV reserves the right not to make an offer for the Article and in such case Seller will be notified by email and the Article will be returned to Seller.
  • Acceptance: Seller has three (3) calendar days after issuance of an MPQ to accept the MPQ from the Portal by selecting the "I Accept" button in the Portal. If Seller has not accepted within three (3) calendar days we will send Seller a reminder email. If Seller has not responded within five (5) calendar days of the issuance of the MPQ then the MPQ will be considered as declined and Seller agrees our offer will be rescinded and withdrawn. At that point we will send Seller an email confirming the same and notifying Seller that the Article will be returned to Seller.
  • Proof of Identity and Selection of Payment Method: After MPQ(s) acceptance, Seller has three (3) calendar days to upload identification documents and select a chosen method of payment. If Seller has not provided the required information within three (3) calendar days, IIDV will send a reminder email. If Seller has not provided the required information within five (5) calendar days of the MPQ(s) acceptance, then the Seller agrees that IIDV’s offer will be rescinded and withdrawn. At that point IIDV will send an email to the Seller confirming the same and notifying the Seller that the Article(s) will be returned. Identification documents include a copy of Seller’s government issued identification. The name on the Seller’s government issued identification must match the name previously provided by the Seller when completing the Submission Form. In addition in the case of any proposed transaction involving (i) the sale by Seller and Seller has provided us with a Non-US passport as Seller's proof of identification; and/or (ii) the sale or proposed sale of Articles by Seller to us having a transaction amount of Ten Thousand Dollars ($10,000.00) or greater, IIDV reserves the right to require Seller to provide us with additional supporting documentation in the form of a current utility bill. Seller is also required to choose a preferred method of payment: Auto Clearing House (“ACH”) transfer or check. If Seller selected ACH transfer, then Seller will be required to provide bank details. ACH transfers may only be issued to accounts located within the United States. The name of the account holder must match the name of the Seller. All such information should be submitted to IIDV through the Portal. Seller represents, covenants and warrants to us that all information Seller submits to us in connection with any Transactions, including without limitation in relation to Seller's identity, Seller's US residency, and Seller's bank account details are in all cases complete, truthful, and accurate, and in the case of any bank account details, Seller represents, covenants and warrants to us that the Bank account details are not those of any third party or other person. For ACH transactions equal to or exceeding One Thousand and Five Hundred Dollars ($1,500.00), IIDV will request a copy of a voided check from the Seller. IIDV will then proceed to verify the identification information and documents submitted by the Seller. In such cases Seller agrees and acknowledges that the consummation of the transaction and the agreement of the parties on the purchase and sale of the Article(s) is expressly conditioned on and subject to Seller's timely providing such additional documentation and on IIDV's determination in its sole discretion that the proposed transaction complies with all of the Terms, including the Terms and Conditions of Purchase for Online Transactions. Without limitation, Seller agrees and acknowledges that the consummation of any Transactions and/or Purchasing Services is contingent upon IIDV confirming the accuracy and authenticity of the documentation (including identification documentation) that Seller has submitted as well the successful passing of any additional screening IIDV may undertake in its reasonable discretion to ensure Seller's eligibility. If IIDV determines that Seller is not in compliance with the Terms, including the Terms and Conditions of Purchase for Online Transactions, Seller will be notified via email and Seller's Article(s) will be returned.
  • Purchase Agreement: If IIDV determines that Seller and proposed transaction are in compliance with all of the Terms including any additional screening and/or diligence deemed appropriate or desirable by IIDV in its reasonable discretion, a Purchase Agreement will be issued. This should take approximately one (1) business day once Proof of Identity has been provided and any additional screening and/or diligence has been completed and Payment Method has been selected. An email will be sent to Seller to indicate that Purchase Agreement is ready for signing on the Portal. Seller will be required to electronically sign and submit the Purchase Agreement. Seller has two (2) calendar days to sign and submit the Purchase Agreement. If Seller has not signed and submitted the Purchase Agreement within two (2) calendar days, IIDV will send a reminder email. If Seller has not signed and submitted the Purchase Agreement within four (4) calendar days of the Purchase Agreement issuance, then the Seller agrees that IIDV’s offer will be rescinded and withdrawn. At that point IIDV will send an email to the Seller confirming the same and notifying the Seller that the Article(s) will be returned.
  • Title: Title to Seller’s Article(s) will be transferred to IIDV upon Seller completing, signing and submitting the Purchase Agreement through the Portal.
  • Payment: IIDV shall make reasonable efforts to ensure that payments are instructed to be paid within one (1) business day and paid within three (3) business days following the signing and submission of the Purchase Agreement by the Seller. Checks will be dispatched by US post and may take an additional seven (7) days for delivery. To the fullest extent permitted by law, Seller releases and covenants not to sue IIDV, its affiliated companies, and their respective officers, directors, agents, joint venturers, employees, legal representatives, and suppliers from any and all claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected with any claims or disputes relating to payments, or alleged lack of payments or third party conversion or theft of payments, in any situations where a check is issued by or on behalf of IIDV to Seller, or a ACH transfer is provided by or on behalf of IIDV to Seller, in accordance with the bank account and/or ACH instructions information provided by Seller.
  • Returns: In the event IIDV cannot accept an Article, does not issue an MPQ for any reason, or Seller cancels its Offer in accordance with the terms hereof, IIDV shall return the Article to Seller in either an insured UPS of Federal Express shipment. Postage and insurance for such return shipments shall be paid for by IIDV. The status of return shipments may be tracked via the courier's website. By sending an item to IIDV, Seller accepts that an Article may be un-set by IIDV. Seller further acknowledges that the process of evaluating Articles may result in staining or scratches to the Articles which may be permanent. Damages for Article(s) that are accidentally damaged while in IIDV's possession, custody or control will be reimbursed to you, up to the amount of the insured amount and provided that such Article(s) are shipped in accordance with IIDV's instructions.  Except as otherwise expressly set forth in these Terms and Conditions of Purchase for Online Transactions, neither IIDV nor its affiliates shall have any other responsibility or obligation to you in connection with accidental damages to Article(s). 
  • Cancellations: Seller may rescind an Offer to sell an Article at any time prior to Seller's execution of the Purchase Agreement. Seller may notify IIDV of its decision to rescind an Offer through the Portal or by emailing IIDV. IIDV shall arrange for the Article to be returned to Seller within five (5) business days of IIDV's receipt of cancellation notice. All transactions and purchases are FINAL and NON-CANCELLABLE once the Purchase Agreement has been signed.
  • Insurance: Shipments of Articles to IIDV using the FedEx shipping label, and any returns of Articles to Sellers, will be insured as determined by IIDV in its reasonable business discretion, based upon information provided by Seller as part of the Submission Form or (if available) the amount of the MPQ, whichever is lower.

 

4. Access to Portal 

Access to the Portal is restricted and requires Seller inputting a username and password. Usernames and passwords will be issued by IIDV. Seller agrees to provide accurate and complete information in connection with Seller's registration through the Portal, and to maintain the confidentiality of Seller's password. Seller is fully responsible for all uses of Seller's password, whether by Seller or others. Seller agrees to (a) log out of the account at the end of each session; (b) keep Seller's password confidential and not share it with anyone else; and (c) immediately notify IIDV of any unauthorized use of Seller's password or account or any other breach of security. 

Seller is solely responsible (to IIDV, its Affiliates and others) for all activity that occurs under Seller's IIDV account. If Seller has the ability to upload content to Seller's account, Seller is solely responsible to backup such content. IIDV reserves the right to delete or remove any content uploaded to any account at any time in its sole discretion. IIDV is authorized to act on instructions received through use of Seller's password, and is not liable for any loss or damage arising from Seller's failure to comply with this Section.