TERMS & CONDITIONS
These Terms and Conditions governs the use of the Services rendered by IGI to the Client in respect of all Articles delivered by the Client to IGI.
In this Agreement, unless the context indicates otherwise, the following terms shall have the following meanings:
"Article(s)” means any diamond, gemstone material or other Article of any kind including but not limited to jewelry, colored stones, pearls and/or laboratory grown diamonds delivered by or on behalf of the Client to IGI.
"Client” means any person or duly authorized representative on behalf of the client, whose details including address will appear on the Receipts issued by IGI to the Client.
"Gemologist” means qualified Gemologists employed by IGI, who have graduated with the requisite Gemologist diplomas.
"IGI” means International Gemological Institute
"Inscription” means any laser inscription by IGI on an Article
"Intellectual Property Rights” means all Intellectual Property Rights of any kind whatsoever, including without limitation, patents, trademarks, rights in designs, trade names, present and future copyrights, whether or not any of these are registered and including applications for any such right or registration thereof, trade secrets, and all rights or forms of protection of a similar nature or having equivalent or similar effect to any of these;
"Parties” means the Client and IGI collectively, and “Party” means either one of them, as the context may require;
"Receipt” means any receipt issued by IGI to the Client in respect of an Article,
"Report” means any and all Grading Reports, the identification Reports, or any other Report or interim report issued by IGI that describes an Article and each verification, update, or supplement to any such Report.
"Services” means all services performed by IGI including but not limited to grading, testing, examining, laser inscribing, and/or the issuing of Reports.
The Client acknowledges that by accepting delivery of an Article, and by performing Services in respect of that Article, all for a relatively small fee compared with the present and potential value of that Article, IGI will be acting on the reliance of and in consideration of the terms and conditions set out in this Agreement.
Client is obliged to familiarize him/herself with the process and procedure involved in the compilation of Reports by IGI The following factors are to be take into consideration by the Client:
Diamonds: Grading Methodology
- The gemological analysis of diamonds, precious stones and other minerals and/or Articles must be carried out by gemologists with many years experience in this field who have a keen sense of the professional code of ethics governing their work as well as a thorough knowledge of crystallographic, optical and physical phenomenon. The identification of the various species and varieties of stones, the distinction between natural and synthetic material as well as various treatment methods currently encountered are all very sensitive factors. More specifically for diamonds, the laws of refraction and dispersion of light, the related geometric data as well as knowledge of all aspects involved in the cutting process are essential.
- Diamonds are graded to the internationally accepted system for diamond grading based on color and clarity. Weight and measurements are listed. The color grade is established by comparison to a prescribed set of master diamonds, by no less than three graduate gemologists with concurring opinions. The clarity grade is established by the assessment of no less than three graduate gemologists concurring opinions based prescribed definitions. The carat weight reflects the official weight of a diamond taken on a well calibrated electronic balance.
- Where the gemstone is graded as best as possible considering the fact that the gems are mounted, weights are estimated by formula, color and clarity grades will be expressed by a two color and two clarity grade range for diamonds over .29ct. Diamonds weighing .29ct. or below will be graded as per their verbal nomenclature. In the case where diamond melee is set in a mounting, a random testing procedure, regarding the diamonds being natural or laboratory created origin will be performed. Weight tolerances are listed.
- The Client will be required to complete a Receipt in respect of the Article which will be issued by IGI and provided to the Client. The Receipt will include a description of what the item is generically, the purpose of the appraisal, to whom the appraisal will be addressed, the date work will be completed, IGI's limitations, and the fee will be recorded. Both the Client and the IGI representative will be required to sign the Receipt. The original receipt is to be retained by the Client and will be returned to IGI upon receipt of the Clients Article.
- All results of the examination of the Article will be recorded by the Gemologist on an interim report. Precious metals are identified by means of stone and acid test. Diamonds are graded according to the universally accepted nomenclature for color and clarity, grading. Colored stones are graded by the International Gemological Institutes’ nomenclature of color, clarity and tone. Easily understood graphs are included with each gemological appraisal. After your gemologist has reached their determination, they will consult with a second and third gemologist confirming their conclusions.
- It is to be noted that natural gemstones are processed from the time they are extracted from the earth by one of more traditionally accepted trade practices. All colored stones have most likely been subjected to a stable and possibly undetectable treatment. All relevant information will be readily provided, based on current available gemological knowledge. Prevailing market values are based on these universally practiced and accepted processes by the gem and jewelry trade.
- The Article(s) described in the various Valuation Reports will be examined in the laboratory of International Gemological Information, a division of International Gemological Institute, Inc. (IGI).
- The Articles referred to in the Reports have been examined by IGI’s Gemologists carefully with specialized instruments. IGI have prepared the Report to the best of its knowledge and professional standards.
- IGI makes no warranty or representation regarding the Reports, which contain a description of the Article(s) based upon the application of generally accepted grading techniques used at the time of the examination.
- Description(s) provided in the Report may vary depending on the method of grading and the qualifications of the employee(s) and/or agent(s) of IGI
- IGI does not agree to purchase or replace the Article. The value(s) expressed in the Reports are based on the appraiser’s best judgment and opinion and is not a representation or warranty that the item(s) will realize that value is offered for sale at auction or otherwise. The value(s) expressed is based on current information, excluding federal, state or local taxes, on the date indicated and no opinion will be expressed as to any past or future value unless otherwise expressly stated.
- The Appraiser’s bona fide opinions as to the value of jewelry items may vary by up to twenty five percent.
- Any and all of IGI's pricing information is available for review. IGI and its employees certify that with respect to all Reports issued, IGI act in a completely independent manner. IGI further represent that no principal or employee of IGI have any direct financial or material indirect financial interest in the submittee or the Article submitted for valuation and or evaluation, or in any of the submittees affiliates or in any of the affiliates acts. IGI's fees are not contingent on the values derived. The Reports to be used and interpreted in its entirety in accordance with the purpose stated on the front of each Report and may not be reproduced in whole or in part without written permission from IGI
- The Article referred to in the Reports will be micro-photographed resulting in an enlarged photograph, as to allow detail to be easily observed. This photograph is representative of the jewelry inspected. It may not be the Client’s individual Article.
- The Gemological Appraisal Report will contain all identification and grading information, photographs, and diagram of the Client’s diamonds clarity, if the diamond is .95ct. or above. Diamonds weighing less than .95ct. may be plotted upon request for an additional fee. The report will be signed, sealed, laminated and dated.
- The Summation of Appraisal Report will contain……
- The date of the Gemological Appraisal Report and the Summation of Appraisal represents the effective date of the appraisal, being the same date, the appraisal report was produced. That is, the effective date of the appraisal represents the value of the Article for that date and does not imply a past or future value.
- The object of an insurance appraisal as an estimated retail replacement value for insurance purposes or S.O.A. is to establish an accurate insurance position and to provide sufficient support if necessary, to prove loss or damage to an Article. The insurance valuation or S.O.A shall give the approximate cost of replacing or recreating the Article as closely as possible. In order to accomplish this the appraisers/Gemologist will use due diligence in reflecting the highest and best use in their analysis of current market prices as well as current costs of labor, materials, creative design, certification, the precious stone and metal markets comparable sales data and offers from reputable firms.
- Costs and margins may differ substantially from retailer to retailer based on their locality, various services offered, and marketing methods. This information is accumulated by national survey. Averaging these costs and margins will result in an estimated retail replacement value for insurance purposes. These values are not for investment purposes, nor are they an endorsement of the price you should pay.
- The Article(s) are appraised based upon final consumption by the consumer at the retail level. These values are IGI's appraiser's best judgment and opinion and are not a representation or warranty that the article(s) will realize that value if offered for sale at auction or otherwise.
- When a report has been prepared for intended use of future purchaser in obtaining insurance and will be passed on to the future purchaser at the time the item is sold, the Report should be accompanied by a copy of the sales Receipt documenting the actual sales price of the item.
- It is to be noted by the Client, if applicable, that most insurance policies contain an option which will allow the insurance company to replace the Client’s lost or damaged Artilcle with "similar" items. Therefore, the more descriptive the appraisal, the more certain the Client can be of receiving proper replacements. Accordingly, for the Client’s own protection, the gemological appraisal will virtually fingerprint the Client’s Article. It will include the Client’s Article’s cut, color, clarity, weight and position. Precious metals will be identified and weighted. This type of descriptive appraisal will reinforce Client’s protection and will ensure the Client is covered for a truly similar Article. An explicit, accurate description is as important for the Client’s protection as in the estimated retail replacement value.
- IGI shall maintain a standard form jewelers block insurance policy and a standard form Fideity insurance policy to insure an Article against loss or damage while in IGI's possession.
- The Client agrees that the liability of IGI and its Employees and Agents for any loss of, misdelivery of, or damage to that Article, even if caused by or resulting from the negligence or other fault of IGI or any of its Employees or Agents, (save for in fraud, willful misconduct or gross negligence) shall be limited to the amount paid, if any, to IGI by its insurance carrier and thereafter paid by IGIto the Client in respect thereof under such policies. In any event, IGI and its Employees and Agents shall not be personally liable for any such loss of, misdelivery of, or damage to that article, even if this limited remedy fails in its essential purpose, as will more fully appear below.
- IGI is able to render its Services to the Client in accordance with the limitations of IGI’s liability set out below and agreed upon by the Client.
- IGI and its Employees and Agents shall not be liable for any direct or indirect damages of whatsoever nature and howsoever arising. The Client hereby indemnifies and holds IGI and its Employees and Agents harmless against any claim, loss, demand, damage, liability, cost and expense of whatsoever nature and howsoever arising, irrespective of whether or not same arises during the currency or after the termination of this Agreement. This clause shall not apply in instances of fraud or willful misconduct, of IGI or any of its Employees or Agents.
- The Client hereby releases, discharges and indemnifies IGI and its Employees and Agents from any and all claims, loss, demand, damage, liability, cost and expense including but not limited to those resulting from any error in or omission from any report or from the issuance of or use of any report or any inscription even if the claim, loss, demand, liability, cost or expense was caused by or resulted from the negligence or other fault of IGI or any of its Employers Agents, save for instances of fraud or willful misconduct of IGI or any of its Employees or Agents.
- The Client acknowledges that in any event, IGI and its Employees and Agents shall not be held liable for special, consequential, indirect, incidental, punitive, exemplary or statutory damages howsoever arising, including but not limited to any damages resulting from any error or omission from a Reports or any inscription or the issuance or use of a Report or any inscription, even if the Client is advised of the possibility of such damages.
- Each of the above and below limitations, as well as others agreed upon in connection with IGI’s Services extends to the Client for whom the Report was prepared, as well as to every other person to whom the Report or the Article described therein is distributed or shown.
- IGI has carried out scientific analysis and grading of the Article(s) referred to in its Report(s), utilizing advanced and up-to-date gemological instruments and equipment available at the time of examination. Evidence of known treatments, simulants and synthetics are detected and disclosed. However, technologies employed in treatments, processing and synthetics are continuously evolving, hence it might not always be possible to determine the origin of the Article using the then-latest available techniques.
- A Jewelry Report is based on the gemological analysis of the Article, but also on data or documentation occasionally supplied therewith. Accompanying reports and hallmarks are accepted as factual, with the implicit understanding that IGI does not guarantee, nor warranty their accuracy. Characteristics, weights and measurements are approximate when analyzed in mounted conditions.
- Gemstones are sometimes enhanced or treated in order to improve their appearance. These processes, including synthetics, are not always identifiable in mounted conditions.
- The Client acknowledges that a Report is not a guarantee, valuation or appraisal. IGI makes no representation or warranty whatsoever regarding the Report or the Article(s) referred to therein.
- By producing the Report, the Client acknowledges that IGI does not agree to purchase or replace the Article(s). IGI operates as an independent laboratory and has no financial interest in the sale or purchase of any Article.
- The Client acknowledges that a Report contains only a description of the results of the Services performed by IGI on an Article using the techniques and equipment made available to IGI at the time such Services were performed. The results of the Services performed by IGI on an Article may differ from the results of similar Services performed on the same Article by others depending upon when, how and by whom such services were performed, and may differ in the future as a result of changes and improvements in techniques and equipment. Opinions therefore may vary as to the characteristics covered in a Report; hence, neither IGI nor any member of its staff shall, at any time, be held responsible for any discrepancy which may result from the application of other grading and/or identification methods.
- An inscription does not guarantee identification, quality, origin or source of an Article because, among other reasons, an inscription may be removed by polishing.
- The trademark, service mark, logo, words, characters or other symbols of an inscription, other than an IGI Report number, or a IGI trademark. service mark or logo, are solely determined by and attributable to the Client and are neither attributable to or an indication of any determination by IGI
- If a Client requests an inscription on an Article, then the Client warrants and represents to IGI that the Client has the right to have IGI inscribe any requested trademark, service mark, logo, words, characters or other symbols comprising such Inscription on the Article.
- IGI disclaims all express, implied, and statutory warranties, including without limitation, the implied warranties for fitness for a particular purpose, merchantability, and non-infringement. Client further agrees that no information included on IGI’s website or in IGI’S informational or promotional materials or communicated verbally by IGI shall be deemed a representation or warranty by IGI The client hereby acknowledges that it has not entered into this Agreement in reliance upon any warranty or representation by any person or entity.
- The Client agrees to indemnify and hold IGI and its employees and/or agents harmless against any loss, damage, liability, cost and/or expense incurred by IGI (including attorneys fees) arising out of, or resulting to or resulting from any inscription client requests to be included on an article. Client releases and discharges IGI and its employees and/or agents from any and all liability, claims, suits, actions and demands including but not limited to liability, claims, suit, action and demands for the negligence or other fault of IGI or any of its agent for the above.
- In the event of any claim by the Client or any person for damage to the article(s), or damages resulting, directly or indirectly, from a Report, the liability of IGI shall be limited to the amount it receives as a fee in connection with this Report.
- An IGI Report facsimile or electronic copy is a digital representation of an original IGI Report and is subject to the same limitations described above. Such digital representation may not be accepted in lieu of the original Report in certain circumstances. The original Report contains certain security features which are not reproducible on a digital representation of a Report.
- The client acknowledges that it is solely responsible to effect payment for all amounts charged to the Client's account by IGI in consideration for the services performed by IGI The client shall effect payment to IGI on any amounts due in respect of the Client’s account. The Client shall effect payment of a penalty amount of 1.5% per month on all amounts not paid when due from due date until payment is made in full.
- The Client will effect payment to IGI in accordance with the payment terms specified on the Invoice provided by IGI to the Client in the country in which the Service was rendered to the Client.
- All of IGI's prices will be recorded in the US Dollar currency. IGI will render an invoice to client in the country where the Client delivered the Article to IGI. IGI’s invoice will convert the US Dollar price into such applicable currency using the exchange rate at the time of completion of the Services for an Article. The exchange rate to be used for payment will be determined by default on the prevailing exchange rate at the time of the transaction.
- Client shall make payment in the currency specified by IGI at the time of payment of the Invoice provided by IGI to the client.
- IGI's prices are inclusive or exclusive of VAT depending on the country in which the Service was rendered to the Client.
- Any quotation or estimation of the price for a Service is only an estimate and is based on the exchange rate in effect at the time of the quotation. The price payable by the Client for the Services will be the actual price determined after completion of the Services by IGI and once the applicable exchange rate has been applied. If the Client paid for the Services prior to the Articles being delivered to IGI or at the time Articles are delivered to IGI., then Client will pay the estimated prices. If the estimated price paid by the Client is less than the actual price, Client will be liable to pay the difference in the amount due. If the estimated Price paid by the Client was greater than the actual price, IGI shall refund or credit the client.
- IGI reserves its right to change its prices for Services at any time without prior notice to the Client.
- The Client acknowledges and agrees that, without limiting the generality hereof, all current or future copyright, trade names, logos, insignia, signage, décor, design of Products, know-how, trade secrets, trade dress, trademarks, design rights, patents and other intellectual property rights (“Intellectual Property”) owned by IGI and made available to it by IGI vests and shall remain vested In IGI.
- The Client further acknowledges, agrees and understands that this Agreement does not constitute a licence to the Client to use IGI’s Intellectual Property at any time or for any reason. Any use by the Client of IGI’s Intellectual Property shall only be allowed with the prior written consent of IGI
- The following may not be used, neither in whole nor in part, for purposes of advertising, publicity, or promotion without the express written consent of IGI, any Reports issued by IGI; the name, trademarks, service marks and logos of IGI and its divisions and/or subsidiaries; any part of any inscription which relates to an IGI Report number, trademark, service mark, or logo. Any trademark, service mark, logo, words, characters, or other symbols of any inscription, other than an IGI Report number, IGI service mark, IGI logo, or IGI trademark, are attributable to and determined by the Client alone, and not by IGI.
- The client hereby authorizes IGI to deliver an Article to any person appointed by the Client in writing as the duly authorized representative and/or agent of the Client.
- The client agrees that IGI may return all Articles delivered to IGI using the same carrier and insured for the same value declared by Client in shipping the said Articles to IGI, if such insurance is available through the said carrier.
- IGI may in its discretion, refuse to perform Services for certain Articles and Services, and in such event, IGI will unless otherwise prohibited by applicable law, return the Articles to the Client.
- Client acknowledges that IGI is entitled to use photographs of the Client’s Article for any purpose it deems fit and the Client waives any intellectual property claims or legal action, if any, it may have against IGI in respect of such photographs.
- Client acknowledges that certain governmental regulatory agencies, committees, boards and entities regulate, license, and set standards for the handling of irradiated Articles and that IGI endeavours to comply with all such regulations. If IGI determines that an Article has a level of radioactivity in excess of such standards, IGI will notify Client of that fact and IGI will follow IGl's then-current procedures for handling irradiated Articles, including endeavouring to comply with the requirements of the applicable regulatory bodies.
- client acknowledges and agrees that IGI may not be permitted to return to client an article while the article has a level of radioactivity in excess of such standards, that IGI may be obligated to transfer the article to an entity authorized to receive irradiated articles, and that IGI will have no further responsibility or liability whatsoever with respect to such article. in addition, client acknowledges and agrees that IGI may not be permitted to return a rough or partially rough diamond to client if client did not send the article to IGI with the required Kimberley process documentation and/or the client did not follow the required process in relation to the article, and that in such event IGI may be obligated to notify and deliver the article to the appropriate government agency. in such event IGI will have no further responsibility or liability whatsoever with respect to such article and client's only recourse is with the government or trade organization in receipt of such notification and/or article and client agrees to indemnify and hold harmless IGI and its employees and agents from the results of such notification and from the delivery of such article to the government or trade organization. In addition, IGI's compliance with any other laws, regulations, or court orders regarding Articles will not be a breach of this Agreement (or any other agreement) by IGI.
- IGI and its employees and agents shall not be liable for any claims, loss, demand, damage, liability, cost and/or expense for personal injury resulting from exposure to radioactive article submitted to IGI, even if the loss, claims, demand, damage, liability, cost and/or expense relating thereto was caused by or resulted from the negligence or other fault of IGI or any of its employees and/or agents.
- IGI and its employees and agents shall not be liable for any third-party claim, loss, demand alleging that an Article infringes a third party ‘s patent, copyright, or other intellectual property rights.
- IGI and its employees and agents shall not be liable for any error in or omission from a Report, the issuance or use of a Report and/or an Inscription including but not limited to any error in or omission from a report caused by IGI, its employees and/or agents.
- Client agrees that IGI may test an Article, including but without limited to chemical analysis or other laser ablation techniques to determine if the Article is natural, synthetic or whether it has been treated or processed, even if Client did not request such testing as a part of the Services.
- IGI may, in its discretion, include an Inscription on any Article that IGI reasonably believes to be synthetic, treated, or processed specifying the results of such IGI testing, even if Client did not request such Inscription as a part of the Services and Client hereby agrees to pay for any such Inscription, even though not requested by Client when the Article was initially delivered to IGI If Client submits an Article to IGI and does not disclose to IGI in writing at the time of submission that such Article is synthetic or that it has been treated or processed, IGI may, at its sole discretion, notify law enforcement agencies, the World Federation of Diamond Bourses or any local bourses, or other appropriate government or trade organizations of the submission and IGI may retain and turn over the Article at the request of such agency or organization for further investigation. In such an event, Client's only recourse is with the government or trade organization in receipt of such notification and/or Article and Client agrees to indemnify and hold harmless IGI and its employees and agents from the results of such notification and from the delivery of such article to the government or trade organization.
- Client acknowledges that the testing techniques and the technology used by IGI for testing Articles for synthetics, treatments, processing, and the like are subject to change, evolving and include certain subjective elements. Client further acknowledges and the ways in which an Article might be treated or processed are changing and dynamic and are becoming more sophisticated. As a result, it might not be possible in all cases to determine whether an Article has been processed or treated using IGI's then-current techniques and technology and IGI makes no representations or warranties to Client in this regard. IGI shall not have any liability to Client or any third party for IGI’s failure to detect whether an Article has been processed or treated or for IGI's inaccurate determination that an Article was treated or processed. If Client submits an Article to IGI and does not disclose to IGI in writing at the time of submission that such Article is synthetic or that it has been treated or processed, then IGI may, in its discretion, charge Client I.G.U's then-current fees in accordance with IGI's then-current fee structure/schedule for testing the Article to determine if it is synthetic, treated, or processed. Client agrees to pay all such fees. IGI may change such fees or the method for determining such fees from time to time in its discretion. Upon Client's request, IGI will provide to Client the then-current fees and fee schedule for such testing. Client agrees to indemnify and hold harmless IGI and its employees and agents from and against any loss, damage, liability, cost, and expense incurred by IGI, including attorneys' fees) arising out of, related to or resulting from third party claims that an article submitted by client is synthetic, treated, or processed when client did not disclose to IGI in writing at the time of submission that such article was synthetic, treated, or processed.
- Client acknowledges that in connection with the performance of certain Services, IGI may map an Article. Client further acknowledges that, from time to time domestic and/or international law enforcement agencies might provide IGI with notice that a particular Article was stolen or is of other interest to the law enforcement agency, or a third party might provide IGI with notice that a particular Article was stolen or may be owned by a third party. If IGI receives an Article with a similar map as the Article that is the subject of such notice from a law enforcement agency or a third party, then, notwithstanding anything to the contrary in this Agreement, IGI may, and is hereby authorized to, hold such Article and inform the applicable law enforcement agency and/or any interested third party with a competing claim of ownership. IGI will comply with any and all requests from a law enforcement agency and orders or directives from any court having jurisdiction over IGI regarding the ownership, holding or other disposition of such Article. IGI may provide to the law enforcement agency the Article and the name and address of the Client, or provide to the third party the name and address of Client. IGI may require Client or the third party to obtain a court order or directive from law enforcement with respect to IGl's disposition or return of the Article. IGI will have no liability to Client in connection with IGl's compliance with any request from a law enforcement agency, court order or directive, or otherwise in connection with its actions under this Section. The terms in this Section shall survive the termination of this Agreement.
- Should IGI be required to appoint attorneys to take legal action, irrespective of whether not a suit is filed, or to represent IGI in connection with any legal proceeding in which IGI is not a party to such suit and the Client is a party, Client shall pay IGI in addition to any other amounts due, its attorneys' fees, costs and other expenses incurred.
- The Client shall not be entitled to cede or assign any of its rights or obligations in terms of this Agreement to any third party without the prior written consent of IGI, which consent shall not be unreasonably withheld or delayed.
- IGI shall be entitled to cede or assign its rights and obligations to any entity without the consent of the Client.
- If a Party is prevented or restricted directly or indirectly from performing any of its obligations under this Agreement by circumstance or cause beyond its reasonable control, (acts of G-d) the Party so affected shall be relieved of its obligations during the period that such event and its consequences continue, but only to the extent so prevented or restricted, and shall not be liable for any delay or failure in the performance of such obligations or for any loss or damage that the other Party may suffer as a consequence thereof, provided always that the affected Party shall forthwith give written notice to the other of any its inability to perform.
- The parties undertake in the implementation of this agreement to observe the utmost good faith and they warrant in their dealings with each other that they shall neither do anything or refrain from doing anything which might prejudice or detract from the rights, assets or interest of either Party.
- This Agreement shall be governed by the laws of the country in which IGI renders its service to the Client, being the country in which the Article was delivered by the Client to IGI.
- Any disputes, claims or action arising out of relating to this Agreement shall be resolved by way of Arbitration in accordance with the laws of the country in which the dispute arise. The formalities dealing with the Arbitration process are to be agreed upon in writing by the Parties.