Terms & Conditions

For clarity throughout this policy:

1. “Billed value” — means the line-item price of the component (gold, diamond, polki, or stone) on your invoice, before any discount applied at the time of purchase.
2. “Net gold weight” — means the gold weight after physical separation of stones, enamel, wax, thread, dirt, dust, and other non-gold materials.
3. “New gold rate” — means our selling rate for gold on the day, published in the showroom separately for each common karatage (24K, 22K, 18K, 14K). Each karatage-specific rate is derived from prevailing Lucknow physical-delivery bullion conditions, inclusive of insurance and cargo delivery rates.
4. “Old gold rate” — means our buying rate for gold on the day, published in the showroom separately for each common karatage. This rate governs all buyback transactions and the gold component of exchanges other than Raj-purchased gold exchange.
5. “Purity” — means the fineness of the gold or silver, expressed as a decimal fraction. Example: 22K = 0.9166, 18K = 0.7500, 14K = 0.5833, 24K = 0.9990.
6. “New silver rate” — means our rate for fine (99.9%) silver on the day. The same rate applies to both exchange and buyback transactions.
7. “GST” — is collected by the company on behalf of the government and is not refundable on exchange or buyback after the 15-day exchange window.
8. “Making charges” — means the labour and craftsmanship charge billed for creating the jewellery piece. These charges are considered within the exchange and buyback formulas already defined in this policy.

1. New gold rate applies only in one situation: Raj-purchased gold being exchanged with original invoice. Settlement is at: 100% net gold weight × karat-matched new gold rate.
2. Old gold rate applies in every other gold transaction. Raj-purchased buyback and outside-gold exchange are both settled at: 100% net gold weight × purity × karat-matched old gold rate.
3. Silver is settled at: 100% net silver weight × purity × new silver rate. The same rate applies across all silver transactions.

When a studded item is presented for exchange or buyback, the calculation works in two steps. First, certain amounts are subtracted from the billed value to arrive at a net redeemable component value. Second, the applicable exchange or buyback percentage is applied to that net amount.

1. Diamond jewellery and solitaires: the discount given at original purchase is subtracted from the pre-GST billed diamond value. GST is not deducted from the diamond calculation.
2. Polki jewellery: the discount given at original purchase and the GST charged on the ornament are subtracted from the whole-unit billed value.
3. Precious gemstone jewellery: the discount given at original purchase and the GST charged on the stone are subtracted from the billed stone value.

Every piece of jewellery purchased from Raj Jewellers carries a lifetime exchange and buyback promise, on the terms set out in this document, conditional on production of the original invoice.

The 15-day window covers a one-time free exchange. Beyond 15 days, exchange and buyback continue for the lifetime of the product on the category-specific terms below.

To protect both you and Raj Jewellers from any misunderstanding about which day’s rate applies, every rate booking is documented in writing — either by a confirmation message on WhatsApp, or by a signed Rate Booking Slip at the showroom counter.

For any new purchase, advance booking, or custom order, the metal rate is booked (locked) only when:

1. 85% or more of the total invoice value has been received by Raj Jewellers.
2. The customer makes an explicit booking request through the approved channels.

Requests made through any other channel do not lock the rate. This includes:

1. WhatsApp text messages
2. SMS
3. Email
4. Telephone calls
5. Verbal counter requests not recorded on a signed slip

Voice notes received outside working hours, or voice notes not confirmed in writing by Raj Jewellers, also leave the order unbooked.

Final billing on any unbooked order happens at the metal rate of the day on which a valid booking is eventually completed.

If you wish to change your mind, visit us within 15 days of the invoice date.

You may:

1. Make a one-time exchange against any other product, in any category. The upgrade ladder does not apply within the 15-day window.
2. Receive 100% of the invoice value, including GST already paid, as credit toward the new product.
3. Pay the difference if the new item is costlier; or carry the balance as store credit if it is lower.

Beyond the 15-day window, exchanges under the lifetime exchange terms follow a one-way upgrade ladder. Exchanges in the reverse direction (downgrades) are not offered.

1. A silver item may be exchanged for: silver, gold, diamond, polki, or precious gemstone jewellery.
2. A gold item — including kundan, jadau, and semi-precious gemstone jewellery — may be exchanged for: gold, diamond, polki, or precious gemstone jewellery, but not for silver.
3. A diamond or solitaire item may be exchanged for: diamond/solitaire, polki, or precious gemstone jewellery, but not down the ladder.
4. A polki jewellery or precious gemstone item may only be exchanged within the same tier.

Customised or altered jewellery is placed on the ladder according to its base material category, as explained in Section 12.

Religious items are not eligible for exchange in any direction, as explained in Section 13.

1. Raj-purchased items: Original Raj invoice is mandatory.
2. Diamond, polki, or gemstone jewellery: Original certificates must also be produced alongside the invoice.
3. Old gold or silver from outside Raj Jewellers: Government-issued ID proof of the seller is required. KYC norms apply.

If you cannot produce the original Raj invoice — for example, for an old or inherited piece — internal record verification is available, subject to certain conditions.

1. Physical handover required. The piece must be deposited with Raj Jewellers for the duration of the verification process.
2. Handover receipt. A signed receipt is issued at the time of deposit, recording:
   • Weight
   • Distinguishing marks
   • Photographs of the piece
   • Customer KYC details
3. Timeline. Verification takes 3 to 5 working days, during which our team searches internal sales records.
4. If verification confirms Raj origin: the piece is processed under the full Raj-policy terms.
5. If verification cannot confirm Raj origin: the piece is returned to you, or processed under outside-jewellery terms.
6. Old records. Records may be limited for very old sales.

All gold jewellery sold by Raj Jewellers is BIS-hallmarked with a unique HUID.

Purity is verified on a karatmeter in the customer’s presence at the time of every transaction.

This section applies to plain gold jewellery — both:

• jewellery originally purchased from Raj Jewellers
• jewellery brought from outside or without invoice

1. Stones, enamel, wax, thread, and other non-gold materials are physically separated in your presence.
2. Net gold weight is determined on a certified scale.
3. Purity verification is completed according to the category of the jewellery.
4. Valuation is applied according to the formulas below.
5. 0% deduction is applied for wastage, melting, or refining.

1. Exchange: 100% net gold weight × karat-matched new gold rate. Because Raj Jewellers sold the piece originally and certified its purity, the published new gold rate is applied directly.
2. Buyback: 100% net gold weight × purity × karat-matched old gold rate.

1. Exchange against any new purchase: 100% net gold weight × purity × karat-matched old gold rate. Melt-and-assay is performed to confirm purity and karatage.
2. Direct cash buyback: offered selectively, subject to prior approval, KYC, and proper documentation.

All diamonds sold by Raj Jewellers are natural, conflict-free, and individually certified by IGI or GIA.

Diamond jewellery and solitaire pieces are valued in two parts:

1. the diamond itself
2. the gold setting

Any gold present in the piece is valued separately under the Section 6 gold rules.

1. Diamond value: 100% × (pre-GST billed diamond value − discount)
2. Gold component: 100% net gold weight × karat-matched new gold rate

1. Diamond value: 90% × (pre-GST billed diamond value − discount)
2. Gold component: 100% net gold weight × purity × karat-matched old gold rate

1. Original Raj invoice and original certificate are mandatory.
2. Diamonds must be intact — not broken, chipped, or missing.
3. Damaged or replaced diamonds will be valued at a revised assessment.
4. Non-gem-quality stones carry no exchange or buyback value.

Polki jewellery is traditionally valued as a single complete unit.

Design, setting, and uncut diamonds are integral and cannot be cleanly separated.

To protect you against gold appreciation over time, Raj Jewellers applies a floor based on the current value of the gold component.

Original Raj invoice and certificate are both required.

1. 80% × (total billed polki value − discount − GST)
2. Current gold value: 100% net gold weight × karat-matched new gold rate

1. 70% × (total billed polki value − discount − GST)
2. Current gold value: 100% net gold weight × purity × karat-matched old gold rate

1. Original Raj invoice is mandatory.
2. Original certificate is mandatory.
3. Broken, chipped, or missing pieces result in revised assessment.

This section applies strictly to jewellery whose primary stone is one of the four precious stones:

• Pukhraj (yellow sapphire)
• Panna (emerald)
• Manik (ruby)
• Neelam (blue sapphire)

Jewellery containing any other gemstone falls under Section 10.

Precious gemstone pieces are valued in two parts:

1. the stone itself
2. the gold setting

1. Exchange: 80% × (billed precious stone value − discount − GST)
2. Buyback: 70% × (billed precious stone value − discount − GST)
3. Broken, chipped, or missing stones are not eligible for stone value.

1. Exchange: 100% net gold weight × karat-matched new gold rate
2. Buyback: 100% net gold weight × purity × karat-matched old gold rate

1. Original Raj invoice is mandatory.
2. Original certificate is required where applicable.
3. Pieces presented without a Raj invoice fall under Section 10.

This section covers:

• Kundan jewellery
• Jadau jewellery
• Mixed-stone pieces
• Semi-precious gemstone jewellery

This includes jewellery containing gemstones outside the four precious stones covered in Section 9.

1. No exchange or buyback value is offered on the stone or non-gold component, regardless of grade or origin.
2. The gold component is valued under the Raj-purchased gold rules from Section 6.
3. Semi-precious stones, CZ, synthetic stones, pearls, beads, and similar materials carry no exchange or buyback value.

Silver jewellery is settled at: 100% net silver weight × purity × new silver rate

The same rate applies on both exchange and buyback. There is no separate new-rate / old-rate distinction for silver.

1. Own-silver exchange: Raj-purchased silver exchanged against a new purchase, with original invoice.
2. Own-silver buyback: Raj-purchased silver presented for buyback, with original invoice.
3. Outside-silver exchange: Silver from any source, with or without invoice, presented against a new purchase.
4. Outside-silver buyback: Offered selectively, subject to approval, KYC, and proper documentation.

1. Stones, enamel, and non-silver components are physically separated before weighing.
2. 0% deduction applies for wastage.
3. Religious silver items are governed by Section 13 and are not eligible for exchange or buyback.

Custom-made, engraved, or altered jewellery does not qualify for the 15-day exchange window.

It will instead be accepted under the relevant lifetime category such as:

• Gold
• Diamond
• Polki
• Gemstone

Engraving or alteration is treated neutrally — it neither adds nor subtracts from the underlying material value.

Out of respect for religious sentiment, Raj Jewellers strictly does not offer exchange or buyback on items depicting, representing, or dedicated to a deity.

This includes:

1. Idols, statues, and figurines of deities, in any metal.
2. Coins and bars bearing images of gods or goddesses.
3. Jewellery, lockets, or pendants whose primary design is the figure of a deity.
4. Any article or ornament donated to a temple, or placed on or worn by a deity at a home shrine or temple.

Every product presented for exchange or buyback is subject to a quality and purity check by our in-house team.

Where there is damage, tampering, missing stones, or mismatch with the invoice, Raj Jewellers will:

1. Explain the findings in writing
2. Offer a revised valuation
3. Decline the transaction only where authenticity cannot be established

Raj Jewellers does not offer direct cash refunds in any case.

Transactions are handled through:

• Exchange
• Buyback valuation
• Store credit

1. Buyback amounts are settled by:
   • NEFT
   • RTGS
   • Account-payee cheque
   Cash settlement is not offered.
2. Settlement is processed within 3 working days of acceptance, subject to verification and KYC requirements.
3. For amounts above statutory thresholds, applicable TDS, TCS, and reporting requirements will be observed.

1. Any balance remaining after exchange is issued as store credit in the form of a signed credit note.
2. Store credit has no expiry date.
3. Store credit may be used in part or full against future purchases across both:
   • Raj Jewellers Legacy
   • Aasa Silver Boutique
4. Store credit is transferable to immediate family members, subject to:
   • Original credit note
   • ID proof of both parties
   • Transfer form
5. Store credit cannot be converted into cash.

If you are unsatisfied with any valuation or decision, please ask the front desk to escalate the matter to the showroom manager.

Unresolved matters may be raised directly with the proprietor by email or in person.

Raj Jewellers treats every escalation as an opportunity to improve customer experience and transparency.

Every exchange or buyback transaction is governed by:

• the version of this policy currently in force
• the metal rates prevailing on the date of transaction
• prevailing market conditions

The terms of the original invoice do not carry forward to future exchange or buyback transactions.

This policy may be updated from time to time. The latest version is available at the showroom and on the Raj Jewellers website.

All disputes, if any, are subject to Lucknow jurisdiction.