Vaidya Gems & Diamonds Refunds, Cancellation & Buy Back Policy

Our focus is complete customer satisfaction. In the unfortunate event, if you are displeased with the product or services provided, we will first attempt to repair or replace the product or service. Only in cases where a repair or replacement is not possible, we will refund back the money, provided the reasons are genuine and proved beyond doubt after our internal investigation. Please read the fine prints of each deal before buying it. It provides all the details about the services or the product you purchase.

Our Policy for any cancellation or refund will be as follows:

Cancellation Policy

Orders once placed cannot be cancelled as we would immediately start incurring costs of manufacturing the products or placing additional replenishment product orders based on the orders received at our website and/or showroom. In case of cancellation of partially paid up orders, the advance collected will be forfeited as cancellation charges to make up for the costs incurred against the orders.

Refund Policy

We will try our best to create the suitable products and services for our clients.

In case any client is not completely satisfied with our products, we will first attempt to repair or replace the product or service. Only in cases where a repair or replacement is not possible, we will refund back the money, provided the reasons are genuine and proved beyond doubt after our internal investigation. Our decision based on our internal investigation will be final and binding.

Mode of Refund:-

We will first offer a credit note to the client in lieu of the price of the product or service purchased which can be used for future purchases from us.

In cases where a refund is approved –

If paid by card, refunds will be issued to the original card provided at the time of purchase.

If paid by using payment gateways, UPI or bank transfers, payments refund will be made to the same account.

We reserve the right to ask for details of the payment from the customers to match with our records, including bank or card statements.

Further, any charges deducted by the payment processers like MDR, PSP Fees, Interchange Fees and others will stand deducted during refund and will not be made good by us in any case whatsoever. As an illustration, if a customer has paid by a Visa credit card, the refund amount will be 2.36% less as those charges are deducted by the card processers during initial payment itself.

Life Time Exchange and Buy Back Policy

We offer a Life Time Exchange and Buy Back Policy on the following conditions –

1. The product is untampered and not damaged. A reasonable time has elapsed since delivery.

2. The product is not customized or a custom made one and is one of the usual rack designs.

3. The product is accompanied by the original bill of Vaidya Gems & Diamonds & all the certificates delivered alongwith it.

4. The requester of the Exchange or Buy back is the person named in original bill or has a written and signed request from person named in the original bill.

Our products will usually have components like gold, silver, diamonds, gemstones, making charges, certification charges, hallmarking charges, etc. Out of these components, we strongly believe that gemstones used by one customer should never be resold to another customer as it would carry forward the positive as well as negative vibes of the earlier user. Hence, we have a strict policy of no exchange or buy back on any gemstones; precious or semi-precious. This is for the simple reason that we deal with only unused gemstones and do not resell exchanged/bought back gemstones to other customers as a policy.

The table below shows the Life Time Exchange & Buy Back Values of each component –

Component Exchange Value Buy Back Value Remarks, if any
Gold At prevailing market rate 98% of prevailing market rate  
Gemstones / Any stones No Exchange Value No Buy Back Value We deal with unused gemstones only.
Diamonds 100% of Prevailing market rate 80% of prevailing market rate  
Solitaires 100% of Prevailing market rate, if approved for exchange 80% of prevailing market rate, if approved for buy back Solitaire jewellery depending on the grade and value is usually custom made for the customer and is hence usually not applicable for buy back or exchange. We will assist in reselling though through appropriate reselling channels.
Making Charges No Exchange Value No Buy Back Value  
Certification/Testing/Hallmarking & Other Charges No Exchange Value No Buy Back Value  
Taxes/GST No Exchange Value No Buy Back Value  

Procedures for Life Time Exchange & Buy Back:-

1. The customer will intimate about Exchange or Buy Back request, ideally by a phone call, email or whatsapp and seek a prior appointment for the same. Walk-in for Exchange/Buy Back is discouraged as it needs a prior evaluation of the documentation which deems the walk-in unfruitful for the customer as well as us.

2. Once the prior document/bill cross-checks and other preliminary document checks are done, the product will be either picked up or asked to be dropped as per the appointment given for the same.

3. The product will be sent for re-certification and evaluation to appropriate laboratories / testing centers as deemed necessary for the product in question at the cost of the customer.

4. On receipt of the re-certification and evaluation, the exchange or buy back value, as the case may be, will be determined. Any discounts given on the original purchases will be deducted from the exchange/buy back value at the same percentage as on the original bill/invoice. Such final value of the exchange / buy back will be communicated to the customer for approval.

5. On the customer’s approval, the value determined and approved above will be processed for the exchange or buy back as the case may be. If the customer is unable to approve the value determined, the product will be returned back to the customer.

Note:- Exchange or Buy Back is not guaranteed and in way should not be assumed to be the right of any customer. The final decision to process an exchange / buy back, as also the mode and timeline thereto will rest with Vaidya Gems Diamonds and the decision of Vaidya Gems & Diamonds will be final and binding.