Terms & Conditions

1. Acceptance of Terms

By visiting our store at BS-26, Nehru Colony, Dehradun, or accessing our website at igoldcash.com, or using any of our services, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions, along with our Privacy Policy, KYC Policy, and Refund Policy.

2. About IGoldcash

2.1 Business Information

• Business Name: IGoldcash
• Nature of Business: Purchase of old, scrap, and unwanted gold, silver, platinum, and diamond jewelry
• Location: BS-26, Nehru Colony, Dehradun - 248001, Uttarakhand, India
• Contact: +91 82793 03844

2.2 Regulatory Compliance

IGoldcash operates in full compliance with:

• Prevention of Money Laundering Act (PMLA), 2002
• Income Tax Act, 1961
• Goods and Services Tax (GST) regulations
• Bureau of Indian Standards (BIS) hallmarking guidelines
• All applicable central and state laws governing precious metal trading

3. Eligibility Requirements

3.1 Age Requirement

You must be at least 18 years of age to sell gold or other precious items to IGoldcash. By using our services, you represent and warrant that you are of legal age.

3.2 Legal Ownership

You must be the legal owner of the gold/jewelry you wish to sell, with full authority to sell such items. You warrant that:

• The items are legally acquired and owned by you
• The items are free from any liens, encumbrances, or legal disputes
• The items are not stolen, counterfeit, or obtained through illegal means
• You have proper documentation of ownership where applicable

3.3 Identity Verification

You must provide valid government-issued identification documents for KYC verification as per PMLA regulations.

4. Services Offered

4.1 Gold Buying Services

We purchase the following items:

• Gold Jewelry: Old, broken, or unwanted gold ornaments of any karat (22K, 18K, 14K, etc.)
• Gold Coins: Investment gold coins from banks or certified sources
• Gold Bars: Gold bullion bars and biscuits
• Silver Items: Silver jewelry, coins, utensils, and bars
• Platinum Jewelry: Platinum ornaments and accessories
• Diamond Jewelry: Gold jewelry with diamonds (diamond value assessed separately)

4.2 What We Don't Buy

• Items without proper ownership documentation when legally required
• Suspected stolen or illegal items
• Items with unclear origin or suspicious provenance
• Counterfeit or fake jewelry

5. Valuation Process

5.1 XRF Technology Testing

We use advanced XRF (X-Ray Fluorescence) technology to determine:

• Purity: Accurate karat/fineness measurement (e.g., 22K = 91.6% purity)
• Composition: Precise metal composition analysis
• Weight: Accurate weight measurement using calibrated digital scales

5.2 Price Calculation

The final price is calculated based on:

1. Current Market Rate: Live international and domestic gold prices
2. Purity Level: As determined by XRF testing
3. Net Weight: Weight of pure gold content (excluding stones, other metals)
4. Deductions: Standard market deductions for processing and refining

Formula: Final Price = (Net Gold Weight × Purity %) × Current Rate per gram - Processing Charges

5.3 Transparency Commitment

We provide:

• Live gold rate display updated in real-time
• Detailed breakdown of weight, purity, and calculations
• XRF test results shown on screen to customer
• Written quotation before finalizing transaction
• No hidden charges or surprise deductions

6. Transaction Process

6.1 Step-by-Step Process

1. Visit Our Store: Walk in with your gold items (no appointment needed)
2. Initial Assessment: Visual inspection and preliminary evaluation
3. KYC Verification: Provide ID proof and complete KYC formalities (if transaction > ₹2 lakh)
4. XRF Testing: Non-destructive purity testing in your presence
5. Price Quotation: Receive detailed written quotation
6. Acceptance: Accept or decline the offer (no obligation to sell)
7. Payment: Receive instant payment via your preferred method
8. Documentation: Obtain receipt and transaction documents

6.2 Payment Methods

We offer the following payment options:

• Instant Bank Transfer (NEFT/IMPS/RTGS): Direct credit to your bank account
• Cash Payment: Available for transactions below ₹2 lakh as per Income Tax regulations
• Cheque Payment: Account payee cheque for larger transactions

6.3 Transaction Completion Time

• Evaluation: 5-10 minutes per item
• Documentation: 5-10 minutes
• Payment: Instant for bank transfers, immediate for cash (if applicable)
• Total Time: Typically 15-30 minutes for complete transaction

7. Pricing and Rates

7.1 Rate Fluctuations

Gold prices fluctuate based on international and domestic market conditions. The rate quoted is valid only at the time of quotation. We reserve the right to revise the offer if:

• There is a significant market rate change during the transaction
• Additional testing reveals different purity levels
• Customer returns after delaying the transaction

7.2 Rate Validity

Quoted rates are typically valid for 30 minutes from the time of quotation, subject to market conditions.

7.3 No Price Matching Obligation

While we strive to offer competitive rates, we are not obligated to match or beat competitors' prices. Our pricing is based on our business model, operational costs, and market analysis.

8. KYC and Documentation Requirements

8.1 Mandatory KYC for Transactions Above ₹2 Lakh

As per PMLA regulations, we are required to collect and verify KYC documents for all transactions exceeding ₹2 lakh. Required documents include:

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driver's License
• Address Proof: Aadhaar Card, Passport, Utility Bill (not older than 3 months), or Bank Statement
• Photograph: Recent passport-size photograph

8.2 Record Keeping

We maintain records of all transactions for a minimum period of 5 years as mandated by PMLA. This includes:

• Customer identification documents
• Transaction details (date, amount, items sold)
• XRF test reports
• Payment receipts and invoices

8.3 Information Sharing with Authorities

We are legally obligated to report certain transactions to regulatory authorities including:

• Financial Intelligence Unit (FIU-IND) for suspicious transactions
• Income Tax Department for transactions exceeding prescribed thresholds
• Law enforcement agencies upon legal request

9. Customer Rights and Obligations

9.1 Your Rights

• Right to Decline: You can decline our offer at any time before accepting payment
• Right to Transparency: You have the right to see testing process and calculations
• Right to Documentation: You will receive proper receipts and transaction records
• Right to Complaint: You can raise concerns or complaints about our services
• Right to Privacy: Your personal information will be protected as per our Privacy Policy

9.2 Your Obligations

• Provide accurate and truthful information
• Submit valid identification documents when required
• Ensure items sold are legally owned by you
• Comply with all legal and regulatory requirements
• Notify us immediately of any errors in documentation

10. Refund and Cancellation Policy

10.1 No Refund After Transaction Completion

Once you have accepted payment and the transaction is completed, the sale is final. We do not offer refunds or buybacks of items we have purchased.

10.2 Pre-Payment Cancellation

You may cancel the transaction before accepting payment without any penalty. Your items will be returned to you immediately.

10.3 Dispute Resolution

If there is a dispute regarding valuation or testing results before payment, we will:

• Re-test the items in your presence
• Provide detailed explanation of calculations
• Offer alternative testing methods if available
• Return your items if you are not satisfied

For complete details, please refer to our Refund Policy.

11. Liability and Disclaimers

11.1 Limitation of Liability

IGoldcash shall not be liable for:

• Sentimental value of jewelry (we purchase based on metal value only)
• Market rate fluctuations after quotation
• Disputes arising from third-party ownership claims
• Delays in bank transfers due to banking system issues
• Any indirect, incidental, or consequential damages

11.2 Testing Accuracy Disclaimer

While we use advanced XRF technology for accurate testing, we do not guarantee 100% accuracy in all circumstances. Rare metals, complex alloys, or unusual compositions may affect test results. We reserve the right to conduct additional tests if needed.

11.3 Website Disclaimer

• Information on our website is for general guidance only
• Gold rates displayed online may differ from actual store rates
• We are not responsible for technical issues, downtime, or errors on the website
• Third-party links on our website are provided for convenience only

12. Prohibited Activities

The following activities are strictly prohibited:

• Attempting to sell stolen or illegally obtained items
• Providing false information or fake identification documents
• Selling items on behalf of minors without proper authorization
• Attempting to circumvent KYC requirements
• Making false claims about item purity or origin
• Threatening, abusive, or inappropriate behavior toward staff
• Attempting to manipulate testing equipment

13. Force Majeure

IGoldcash shall not be held liable for failure to perform obligations due to circumstances beyond our reasonable control, including but not limited to:

• Natural disasters (earthquakes, floods, fires)
• Government actions, restrictions, or regulations
• Labor strikes or industrial disputes
• War, terrorism, or civil unrest
• Pandemics or public health emergencies
• Banking system failures or technical outages
• Extreme market volatility or trading suspensions

14. Intellectual Property

All content on our website, including text, graphics, logos, images, and software, is the property of IGoldcash and protected by copyright laws. You may not:

• Copy, reproduce, or distribute our content without permission
• Use our brand name, logo, or trademarks without authorization
• Create derivative works based on our content
• Use our content for commercial purposes

15. Privacy and Data Protection

Your privacy is important to us. We collect, use, and protect your personal information in accordance with our Privacy Policy and applicable data protection laws. By using our services, you consent to our data practices as described in the Privacy Policy.

16. Amendments to Terms

We reserve the right to modify these Terms and Conditions at any time. Changes will be effective immediately upon posting on our website. The "Last Updated" date indicates when terms were last revised. Your continued use of our services after changes constitutes acceptance of the modified terms.

Material changes will be communicated through:

• Prominent notice on our website
• In-store signage
• Email notification (if you have provided email)

17. Governing Law and Jurisdiction

17.1 Applicable Law

These Terms shall be governed by and construed in accordance with the laws of India, including but not limited to:

• Indian Contract Act, 1872
• Prevention of Money Laundering Act, 2002
• Income Tax Act, 1961
• Consumer Protection Act, 2019

17.2 Dispute Resolution

Any disputes arising from these Terms or our services shall be resolved through:

1. Informal Resolution: Good faith discussions between parties
2. Mediation: Appointment of neutral mediator if needed
3. Arbitration: Binding arbitration under Indian Arbitration and Conciliation Act, 1996
4. Legal Action: Courts in Dehradun, Uttarakhand shall have exclusive jurisdiction

18. Severability

If any provision of these Terms is found to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect. Invalid provisions will be modified to the minimum extent necessary to make them valid and enforceable.

19. Entire Agreement

These Terms and Conditions, together with our Privacy Policy, KYC Policy, and Refund Policy, constitute the entire agreement between you and IGoldcash regarding the use of our services. They supersede all prior oral or written agreements.

20. Contact Information

For questions, concerns, or clarifications regarding these Terms and Conditions, please contact us:

21. Acknowledgment

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