Terms and Conditions

Buyer Registration

Introduction

These Terms and Conditions on which SHK Diamond (Surat) will submit diamonds for inspection and the result will be declared by tender in which the name of the purchaser will not be disclosed. Online tender will be done through tender platform.
The Company Owner and all its representatives wishing to purchase the diamonds represented by SHK Diamond are bound by these Terms and Conditions.
The Terms and Conditions are available on the online tender platform, and each customer confirms that he has read them and agrees to be bound by them as registered as a customer. Although included here, nothing will seem contradictory and then even if the customer registration is completed and the terms and conditions are amended, the customer agrees and the amendment must be validated by the customer so that the customer reads and understands the terms and conditions each time and he will be bound by the revised terms and conditions available on the online tender platform.
The customer (company owner) agrees that when his representative or himself on the online tender platform select “I accept” and submits an electronic bid, the customer confirms the acceptance of the terms and conditions effective at the time of the tender, as electronic proof that he is legally bound by them. Each customer further agrees that the electronic signature is the legal equivalent of a manual signature, which has the full power and effect of a handwritten signature on a paper document, and which any certifying authority And / or approval from others is not required.
Terms and Conditions apply to the entire online tender process and to other services provided by SHK Diamond to registered customers.

Customer registration.

Any company wishing to participate in the tender organized by SHK Diamond must apply for this purpose by filling up the registration form provided by SHK Diamond to become a customer of SHK Diamond and such All documents are required, including proof of customer identity, such as its director, representatives and customer’s constitutional documents and copies of business license and company bank account details.(See customer registration form for full details of documents.)
All information and documents provided only after thorough verification, The full right to register or not to register with the customer is reserved by the seller or SHK Diamond and customers who are already registered must keep such information and documentation updated at all times, in which the SHK Diamond may request to company and representatives to submit proof of identity at any time.
To be recognized as a customer, each applicant must meet all requirements of SHK Diamond safety, compliance and other appropriate diligence requirements. The registered customer is then referred to as our ‘customer’.
The Customer assures that it has the legal capacity to discharge its obligations under these Terms and Conditions.
SHK Diamond, in its sole , may cancel the registration of a customer, and refuse to admit any of its representatives on inspection or tender without notice and with immediate effect.
SHK Diamond may list the registered customer in its website or advertisement after obtaining the company name and logo with the consent of the company, such as “Valuable Customer” under several other such headings.

Invitation and inspection plan.

SHK Diamond invites customer to participate in tender after successful completion of registration process, successful registered customer will be invited to check diamonds for sale on online tender
SHK Diamond will decide at its sole discretion whether to invite the customer to participate in the tender or not.
SHK Diamond shall have no obligation to invite the customer to participate in the tender, whether such customer has participated in the previous tender or whether such customer has successfully completed the registration process.
SHK Diamond may, at its sole discretion, change or cancel the date, time, period and place of inspection as determined by time and circumstances.
The inspection will take place only at the SHK Diamond premises or at a place designated by SHK Diamond.
SHK Diamond may, at its sole discretion, publish a description of a lot of diamonds or diamond parcels to be inspected on that tender. Such a description will be indicative only; will not make any representations for the quality and quantity of diamonds or the exact weight of lots, which will be available on tender. (Comparison between two tenders is never fair)
In the bank account designated by SHK Diamond, as a bank guarantee from the customer, a deposit may be required before inspection. (If the customer has not received the tender in any previous tender, or the customer has failed to make the successful payment in the previous tender) The deposit is refundable 2 to 3 working days after the closing of the tender.
Invitations and appointments made by SHK Diamond for online tender process are given on a first come first served basis based on fully automated software.

Representation during the inspection.

If the customer wants to bring a consultant or any third party person who is not an employee of his company or any of his subsidiaries for inspection, the customer has to inform the SHK Diamond or the inspection appointee in advance and submit proof of third party identity. The third party person will also be considered a representative of the customer, and will meet the same security, compliance and other reasonable requirements as the customer and his other representatives. Customers will be legally responsible for all representatives brought in for inspection. SHK Diamond reserves the right to refuse to allow any third-party person to attend the inspection visit at its sole discretion. (for security purpose, maximum two person of single company are allow for inspection)
The Customer issues a warrant and ensures that its representatives are fully aware of and comply with the Terms and Conditions

Online tender platform.

Website Address of Online Tender Platform to Customer will be informed during the inspection of the tender or will be informed earlier by various means.
At the time of inspection the customer may request training on how to use the online tender platform on which bids are to be submitted. For technical guidance during the bid submission process, the customer may contact the inspection office by telephone if necessary.
Customer agrees not to use the online tender platform for any purpose other than participating in the tender.
At the time of registration, each customer is given a unique username and password to access the online tender platform. The customer will be responsible for maintaining the security and confidentiality of his details and In case of loss or theft of login details will report immediately. Seller / SHK Diamond is not responsible at any time for misuse of your login password and username.
The customer (company owner) represents and guarantees that bids submitted by any of its representatives or employees on the online tender platform, will be submitted by the person who is legally authorized to take financial commitment on behalf of the customer (company owner). The seller and / or SHK Diamond will have no obligation to verify the financial authenticity of any customer representative.
The process of online tender platform is technically as it is”. The seller and / or SHK Diamond do not guarantee uninterrupted access to the online tender platform and will not be responsible for any issues.
Where the customer is unable to submit a bid through the online tender platform (due to failure of the seller and or SHK Diamond devices, or to the customer, or any other person or due to difficulties in internet connection, etc.) SHK Diamond, in its sole discretion, is entitled to accept a properly signed bid from the customer in an email, or in a sealed envelope, before the end of the bid submission period.
The online tender platform contains confidential information, which is the sole property of the seller and / or SHK Diamond. The customer will not use the online tender platform to suit the purpose of reverse-engineering theft and / or logic, general aesthetics or any part of its content. If a third party becomes aware of any unauthorized use of the content of the online tender platform, the customer will inform the seller / SHK Diamond.

Security during inspection.

The SHK Diamond will be entitled to observe the inspection during the tender process by devices such as video cameras and other surveillance, to which the customer and his representatives have specially agreed.
Customers or their will not have any diamond or diamond related option in their possession while entering or leaving the inspection premises, they will not be admitted in the tender if they are found to be bringing any type of diamond or diamond related option.(Therefore, do not bring the diamond related options or diamonds when entering the tender and leave the inspection room only after taking special care to check that no diamond or diamond related options are left on your body part by mistake)
No more than two persons at a time shall enter the room for inspection for security purposes.
SHK Diamond will record the weight of each Lot before and after each inspection of the diamond or diamond Lot given to the customer.
Where there is a discrepancy between the weight recorded after inspection and the weight recorded before that inspection, the seller / SHK Diamond reserves the right to suspend the delivery of all goods, and will be entitled to search in that area, In which the observation was made and it will not be entitled to leave the premises unless the seller / SHK Diamond otherwise approves and the customer and his representatives are with the discrepancy.
Each Customer agrees, that all its representatives agree that, at its sole discretion, SHK Diamond may take any security measures, any customer representative’s present, consent to a thorough inspection or it can stay on campus until it feels right before it leave premises. (In which the weight of the observed diamond is not limited enough)
Any suspicious behaviour committed by a customer or any of his / her representatives may be further investigated by SHK Diamond and may be referred for criminal investigation.
If a diamond inside particular Lot is either lost or severely damaged during inspection, the customer will be entitled to charge as per carat value or at the reserve price of the Lot, whichever is higher, depending on the officer appointed by SHK Diamond.
SHK Diamond shall not be liable for any loss or damage to the customer in the premises or any compensation shall not be paid including liability for death or personal injury.

Behaviour during inspection.

If a customer fails to be present for inspection at the appointed time (if the failure to attend is more than twenty minutes late for adjustment) the seller / SHK Diamond may, in its sole discretion, refuse to allow the customer to be present for inspection. SHK Diamond has the full right to refuse to participate in the tender to the customer at a later time according to the appointment availability and / or except.
The presence of an approved inspection is not limited to one visit per customer only and a maximum of two (2) representatives per customer. The Seller / SHK Diamond may, at any time and without prior notice, limit the number of submissions of any customer’s observation at its sole discretion, to a lesser number corresponding to the time.
During the inspection, the description of any Lot made by the seller and / or SHK Diamond is only providing information, and the nature, size or quality of the goods are not guaranteed. It is the customer’s responsibility to thoroughly inspect all lots before submitting any bids. Customers should have a thorough and detailed inspection of all the diamonds / goods before bidding. The Customer agrees that seller and /or SHK diamond are to be responsible for any description or information provided about any diamonds / goods.
Prior to inspection, customers are requested to check the weight of each lot they have submitted and to report any discrepancy in text and actual weight on the parcel or any internal discrepancy is noticed to the seller / SHK Diamond immediately.
During inspection, a Diamond or Diamond lot inspected by customers will not be given for second inspection. So make sure Inspection done properly in first attempt.
Each Lot is sold as a whole and will not be mixed or split from its original presentation.
Diamond Lot for inspection is distributed to the customer through automated software method. In certain circumstances the customer may be busy with some Lot during the request for some diamond Lot for inspection. In such circumstances the or his representative is bound to show complete restraint.
Customers are not allowed to apply white or any other collared coating to the diamond being examined, as it changes the alleged colour of the diamond for subsequent inspection. The seller / or SHK Diamond reserves the right to immediately disqualify customers who do not comply with this restriction and the customer will be solely responsible for any damage caused by the seller / SHK Diamond for non-compliance. Marking with ink, where it is easily removed from ethanol, is allowed.
Customers will have to leave the inspection room at the end of their appointment period, the seller and / or SHK Diamond will allow the customer to leave the premises before the appointment period only after checking all the diamonds / goods.
Special care should be taken by the customer or his representative not to mix any diamond Lot knowingly or unknowingly. However, if more than one Lot is mixed, the customer agrees that the decision of the seller SHK Diamond will be final.
The customer and his / her representative agree to follow the instructions given by the seller and / or SHK Diamond to maintain and respect the privacy and security of other customers and to inspect and bid on diamonds.

Result opening

Bids submitted by the Seller and / or SHK Diamond Bid only after the closing period for submission of bids and under the supervision of the Appointing Committee will open. (This is a fully automated)
The seller, in his absolute discretion, may determine the reserve price at which he is willing to make a particular sale and may at any time reduce or discount it.
Seller and / or SHK Diamond are not bound to announce the reserve price of any particular lot tendered to any customer and to announce the result price.
The Seller may, at its sole discretion, accept or reject any submitted bids.
Where two or more customers are bidding the same winning prices, the seller and / or SHK Diamond will contact each customer by phone to inform them that they are the joint-highest bidder with one or more parties, and their bids offers an opportunity to review the price. If both customers are inaccessible or decide to bid the same within thirty minutes after being notified, the seller and / or SHK Diamond will decide by lot in the presence of the Appointments Committee, with the highest bidder will be the winner.
When the customer admits his mistake on the online tender platform, the decision will be taken after reviewing the bid made by the customer by the seller or the appointing officers of SHK Diamond which will be considered final.
Seller and / or SHK Diamond Online will be entitled to publish on this tender platform and send the final results of the tender to the bidding customers by email, but are not bound.
In the event that there is no customer bidding more than once on a particular parcel, the seller / SHK Diamond is entitled to decide according to his discretion whether to declare the customer as an uncontested winner.

Bid submission

Online tender at any time. The seller and / or SHK Diamond are not bound to sell the tender even after the bidding (bid submission process) is completed. (Note that bid means offer which can be linked to Indian Rupee (₹) or US Dollar ($))
Right to move the physical tender site
Right to change tender schedule.
Right to withdraw many parcels (diamond lot) from sale at any stage before the end of the bid submission period.
Right to prevent any customer from accessing online tender platform.
Right to reject any bid at any stage prior to the existence of the binding agreement of sale.
Note: – All the above rights are vested by customer to seller and / or SHK Diamond.
To protect the customer from over-stretching or stress the Budget and to bid with complete confidence, the customer may be requested to predefine their overall ‘purchase limit’, i.e. the customer is ready to purchase the maximum amount.(for which online tender the Platform page will have a bar to set limit of purchase by which the customer can set his purchase limit)
Customers may change their purchase limit at any time before the end of the bid submission period.
Customer bids, which have not been submitted through the online tender platform, may also bid through the sealed envelope specified by the customer and by email (subject to approval) in the bid given in the sealed envelope. The type cannot be changed while the bid placed on the online tender platform can be changed before the expiry of the bid. The customer who wants to bid in a sealed envelope and in Email should take special note above.
The bidding currency / value is in Dollars ($) or Rupees (₹) and must be entered in respect of each lot as directed by that lot.
Bids may be entered in the amount per carat ($ / carat) / (₹ / carat) or in total value per lot ($) / (₹), which is entered in the field. The other field is calculated automatically.
The bid submitted by the customer on the online platform only can be submitted, edited or cancelled at any time till the end of the submission period.
The customer will not be entitled to withdraw the bid made after the end of the bid submission period.
Once the submission period is over, any bid will be on standby as an offer to buy lots.
Customers will not receive a notification email for submitted bids, or when the submission period closes.
In the process of online tender platform, only the customer company will be held responsible for the mistake in the bid submitted by him.

Transfer of Right

These terms and conditionsby the seller and / or SHK Diamond may change, or delete any of the previous terms in respect of the sale of diamonds through the online tender platform.
The Seller and / or SHK Diamond will be entitled to amend or modify the Terms and Conditions to make such revised Terms available on the Online Tender Platform, prior to the customer participating in the tender, to which the revised Terms apply. Therefore, it is imperative that the customer reads the terms and conditions carefully before making any bid.
For reference purposes, the current version of these Terms and Conditions will be available on the website of the online tender platform.
The Customer shall note that these Terms and Conditions Agreements with the Seller and / or SHK Diamond are not entitled to be transferred to any third party without the prior written consent of the full or partial seller without the prior written consent of SHK Diamond, Any assignment or transfer will be considered void.

Payment

The seller reserves the right to refuse to sell the lot in full even after the bidder has successfully won the lot and the seller and / or SHK Diamond reserves the right to do so.
The binding contract of sale in respect of the seller and any diamond or diamond lot won by that customer will be done after successfully payment.
The binding contract of sale in respect of the seller and any diamond or diamond lot won by that customer will be done after successfully payment. who sells diamonds may be excluded from participating in any future tenders. The customer expressly agrees that the default fee is not a penalty and the seller and / or SHK Diamond may retain the deposit for recovery of the default fee.
Winning diamonds or parcels of diamonds from the online tender platform by the seller or SHK Diamond whose price option is USD ($) at the time of making that invoice at the price of USD ($), Indian Rupee will be converted which will be an invoice given to the customer of the diamond or diamond parcel sold at the end of the tender process considering the dollar price of that time.
Working days can mean any day in India which is not a weekend or public holiday.

Collection and delivery

The winning customer will be able to collect Lots from the SHK Diamond premises only after receipt of full payment (including charges, if applicable) by each winning customer.
Swift copies cannot be accepted as a way to unload goods (for customers outside India only)
The title of ownership in the winning lot will be awarded to the winning customer upon receipt of full payment.
Additional insurance and storage charges may be charged from the winning customer in case the winning lot has not been collected within two working days after receipt of full payment.
If the winning customer requests to send the winning lot, it is in the sole discretion of the seller and / or SHK Diamond to agree to arrange such a trip, in which case the seller and / or SHK Diamond ship to the winner will inform the customer about the details.
The winning customer acknowledges and agrees that all risk of loss after crossing the premises of the seller’s premises will be under the liability of the customer even if the seller and / or SHK have agreed to arrange diamond shipment after crossing the boundary of the seller’s premises, Insurance of the winning lot will be the responsibility of the winning customer.
All transport, export, shipping insurance, diamond office tax fees and related expenses, will be in the customer’s account to be paid before the movement of the winners.
Customer to comply with, submit and warrant all laws, export / import control and trade approval laws and regulations not limited to, which may apply to the winning lot. This compliance is the sole responsibility of the customer and the seller and / or SHK Diamond will not be liable for any violation of export / import and clearance rules by the customer.
Return of goods after collection or delivery will not be accepted under any circumstances.

Winning customer acknowledgement

The winning customer acknowledges and agrees that he has been given the sufficient time to inspect the diamonds he has purchased, his sole responsibility is to fulfil his due diligence regarding the diamonds purchased Not based on any information, representation or warranty provided by the seller and / or SHK Diamond.
Diamonds or diamond lot will be given to each customer for inspection only during the tender period. Diamonds or diamond lot will not be given for inspection after the bids for tender have been completed.
Diamonds or diamond lot will be given to each customer for inspection only during the tender period. Diamonds or diamond lot will not be given for inspection after the bids for tender have been completed.

Conflict and privacy

No customer shall disclose any information relating to the tender to any other customer or any other person without prejudice to the generality of the meaning of the phrase, “tender related information” will be included
If a customer is found to be in violation of this law even though the lot is not identified, or photographed or shared, the right and consent to leave it immediately from the premises is given by the customer to the seller and / or SHK Diamond, the customer will bid at his own discretion without being deceived by any third party.
SHK Diamond is not under any obligation to deliver any winning diamonds or diamond parcels to the customer. The customer has to collect diamonds or diamond parcels from SHK Diamond office by himself or his representative.
To avoid any conflict of interest, the seller and / or SHK Diamond will not bid on many tendered diamonds or diamond parcels.
It is at the discretion of the seller to declare the bid prices as the winner.

Private statement

At SHK Diamond we are committed to protecting the privacy of your personal information and other data provided to us by e-mail, phone or any other SHK Diamond online bidding platform.
SHK Diamond (Surat) 501 ‘Shukan Building with GST Number 24ADGFS3607L1ZY of Company registered business address at JaddaKhadiMahidharpura Diamond Market, which collects personal data of any other contact of customers, suppliers as per’ Privacy Statement.’
The contact person for data protection at 501 ‘Shukan Building Jadda Khadi Mahidharpura Diamond Market as follow:
Purpose and reason for collection of personal data SHK Diamond will do the following on data:
How long will we save your data? Given the legal time limits, your data will be kept as long as necessary to achieve the goals collected in the first place, e.g. 5 years for personal data.
Sharing information with third parties Your information will be treated confidentially and will not be shared with third parties under any circumstances, unless it is strictly necessary for us to perform our duties to you, or to comply with our legal obligations.
SHK Diamond reserves the right to access, update, delete or transfer your data.
Changes to our Privacy Policy SHK Diamond reserves the right to add or change this Privacy Statement at its sole discretion without prior notice. A copy of our Terms and Conditions is available on the Customer Registration Pack which you can find at www.shkdiamond.com

Instructions

Except as expressly provided in the Terms and Conditions, any other seller and / or SHK Diamond may, at its sole discretion, give any other instruction under these Terms and Conditions.

Government law and jurisdiction

The terms and conditions and any agreement thereof shall be governed by and construed in accordance with Indian law. All disputes will be present to court in Surat (Gujarat).
(Subject to Surat jurisdiction)
S.H.K. Diamond does not employ or employ child laborAnd child labor is not supported.

Supplier Registration

Introduction

This is a process of selling diamonds based on an online tender platform in which a variety of diamonds and lots of diamonds will be presented for sale by the tender organizer i.e. SHK Diamond on an appointment basis. In which diamonds will be procured from various suppliers on the basis of Jangad or Memo and the diamonds or diamond lot will be arranged in the online tender platform, then companies involved in the diamond industry in India and abroad will be invited to buy diamonds if the company wants to participate in the online tender. He will be able to inspect the diamonds or diamond lots placed in the tender by appointment after pre-registration at SHK Diamond premises and then the customer will be able to bid for the diamond or diamond lot through the online tender platform which will be the maximum bid of the customer. It will be declared the winner by the company’s appointed observers through an automated process based on the online tender platform (buyer person or company name will not be disclosed) and the winning company will pay the supplier’s diamonds or diamond lots submitted through the online platform.
All transactions conducted by SHK Diamond are conducted with complete transparency in which the supplier can inspect in detail at any level on online tender platform.
The company owner and all its representatives who wish to sell diamonds through the online tender platform introduced by SHK Diamond acknowledges that they are bound by these terms and conditions.
In the online tender process conducted by SHK Diamond, only natural diamonds are sold at present, so it is important for the supplier to keep in mind that you can sell diamonds or parcels of diamonds through online tenders to ensure that the diamonds or diamond parcels do not contain any type of man-made diamond or diamond substitutes such as CVD, mozzonite, synthetic, laboratory-produced, etc., and no other type of material other than natural diamonds, or only natural diamonds or diamond parcels. The supplier is bound for this.
If a supplier is found to be violating Section 1.04, SHK Diamond may stop on it at any time during the sale and agrees to return the parcel to the supplier at any time. The company or supplier violating Section 1.04 is liable to a penalty, or is also entitled to withhold the return delivery of a diamond or diamond parcels until a settlement is reached.
The supplier acknowledges that he is fully aware about how many days his diamond parcel will remain in the SHK Diamond Tender House from Jangad or Memo. It will be extended for certain period due to certain reason during that arguments arise from suppliers will be considered invalid.
The time allotted in the tender process and the time allotted in the appointment shall be in accordance with the Indian Standard Time.
All Terms and Conditions are available on the online tender platform and every customer confirms that he has read them and is bound by them in the registration as a customer and even after registration Terms and Conditions may be amended. Customer agrees and validates the amendment. Updates made from time to time will be presented on the online platform by SHK Diamond and the customer will know by himself.
Supplier / Customer agrees that when their representative or himself during the registration process on the online tender platform, select “I Accept” button when the customer accepts all kinds of effective terms. The customer further agrees that the electronic signature is the legal equivalent of a manual signature which has the full power and effect of a handwritten signature on paper documents and any certificate or does not require approval from anyone.
Every process mentioned above, whether physical or through an online platform, will be carried out under all kinds of security, however the seller or SHK Diamond will not be bound in the event of any technical, natural or manmade obstruction.

Customer registration for supplier

Any company wishing to participate in the tender organized by SHK Diamond has to fill up the registration form provided by SHK Diamond to become a customer of SHK Diamond, in which two options will be seen number1 Buyer and number2 Supplier, and you can choose to register or both options, which require all such documents, including proof of customer identity, such as its director, Representatives and customer’s constitutional documents and copies of business license GST number and company bank account details etc.
(See customer registration form for full details of documents.)
All the information and documents provided by customer / supplier only after thorough verification whether to register or not. Seller or SHK Diamond is reserved Rights and customers who are already registered must keep up to date such information and documentation at all times. In which the SHK Diamond can ask for proof of identity of the owner and representatives of company at any time.
To be recognized as a customer, each applicant must meet all requirements of SHK Diamond’s safety, compliance and other appropriate diligence requirements. The registered customer is then referred to as our ‘Customer / Supplier’.
The Customer / Supplier assure that it has the legal capacity to discharge its obligations under these Terms and Conditions.
The seller or SHK Diamond, in its sole discretion, may cancel the registration of the customer or supplier, and refuse to allow any of its diamonds or diamond parcels to enter the tender platform without any notice and with immediate effect.
SHK Diamond may list the registered customer in its website or advertisement after obtaining the company name and logo with the consent of the company, “Valuable Customer” or many other such headings.

Sale of Goods (Diamonds)

Diamonds or parcels of diamonds given by the supplier to SHK Diamond on the basis of Jangad / Memo which are offered for sale through tender platform will be considered for sale only when full successful payment by the winning customer is made to SHK Diamond or payment will be made by the bank in favour of SHK Diamond.
Winning customer failure to payment of the winning bid diamond or diamond parcels with any reason, SHK Diamond never be bound to buy a diamond or a diamond parcel taken on the basis of Jangad or Memo provided by the supplier.
In the circumstances of the above section, within two working days of the completion of the online tender process, the diamond or diamond parcel given by Jangad / Memo to the seller or SHK Diamond will be delivered to the supplier. (This time may be delayed in unavoidable circumstances)
Decision taken by sole discretionary of SHK Diamond and it is final decision for supplier in all manners.
Brokerage or commission fixed by SHK Diamond with the supplier if the sale of diamonds or parcels of diamonds given to SHK Diamond on the basis of Jangad or Memo by the supplier is done through the processing of online platform. Accordingly, the price will be paid to the supplier only after deducting the commission from the price received by the diamond or parcel of diamonds through online tender.
on the basis ofJangad or Memo by the supplier Diamonds or parcels of diamonds given to SHK Diamond which are not sold or withdrawn through the processing of online platform, then in some cases SHK may charge the diamond supplier on a diamond or diamond parcel delivered from Jangad or Memo.
Payment within fifteen (15) working days through bank by SHK Diamond will be done for diamonds or diamond parcels delivered to SHK Diamond from Jangad or Memo by supplier if sold on online tender platform. (In many unavoidable circumstances this period may be delayed.)
The price of a diamond or a diamond parcel delivered to a seller or SHK Diamond by Jangad or memo for sale on the supplier online tender platform in US Dollar or Indian Rupee can be kept in two types of financial options, in which the US Dollar at the time of making the invoice which will be priced at the Indian Rupee will be converted which will be an invoice given to the supplier of the diamond or diamond parcel sold at the end of the tender process considering the dollar price at that time
The price of a diamond or a diamond parcel delivered to a seller or SHK Diamond by jangad or memo for sale on a supplier online tender platform. In such a case the winning customer who has US Dollar. Payment will be made to the supplier as per the price of USD, in which the decision of SHK Diamond will be final.
It is at the discretion of the seller to declare the bid prices as the winner.

Online Tender Platform

The online tender platform is designed with special privacy and security in mind and software intuitive and user friendly design.
Training of online tender platform has also been provided to the customer or customer’s representative for inspection during the inspection and telephonic help has also been provided by SHK Diamond to resolve the technical difficulties encountered while bidding for the tender. (This is one of facility but the seller or SHK Diamond will not be binding in any way for further difficulties due to technical defects)
The process of online tender platform is a completely software based automated process without human intervention. In which bids submitted by customers are decided without complete human intervention.
At the time of registration, each customer is given a unique username and password to access the online tender platform. The customer will be responsible for maintaining the security and confidentiality of his login details and in case, any loss or theft of login details, customer should immediately report to the seller / SHK Diamond. In that seller or SHK Diamond will not be responsible for misuse of Username and Password at any time.
The online tender platform contains confidential information, which is the sole property of the seller and / or SHK Diamond. The customer will not use the online tender platform to suit the purpose of reverse-engineering / theft and / or logic, general aesthetics or any part of its content. If a third party becomes aware of any unauthorized use of the content of the online tender platform, the customer will report to the seller / SHK Diamond.

Limitations of Liability.

The entire risk and liability of all types of diamonds or diamond parcels offered for sale to SHK Diamond on tender platform on the basis of Jangad or Memo from the supplier shall be in accordance with the rules of the insurance company, the supplier agrees that SHK Diamond is not responsible or obligated to pay any unwanted compensation for the incident.
The supplier agrees that God’s Act, Damage to any diamond or diamond parcel by fire accident, government order or public enemies, riots, strikes, lockouts, labour disputes, terrorism, weather-related delays, any natural or man-made one described, or sold for delay, SHK Diamond will not be liable or bound.
In the event of delay in delivery of goods for above reason or any other reason not bound to pay SHK Diamond delay fee or any kind of compensation.
SHK Diamond does not have any obligation to deliver or collect any diamonds or diamond parcels from the customer / supplier. The customer must collect or deliver the parcels from himself or through his representative at the SHK Diamond office premises. , SHK Diamond does not guarantee any liability after leaving the office premises.
The customer / supplier are aware that during the inspection of a tender related diamond, the weight of a given lot may be reduced by a few carats. This marginal difference is proportional to the initial carat of the lot, sometimes due to friction of the diamonds against each other or as a result of a small particle coming out of the same diamond and weight changes can also be seen through many other factors. Many of the tendered lots may show this type of change in the weight of diamond or diamond lot. The customer / supplier recognize and accept this risk of marginal weight loss in the handling of goods.

Security during inspection

The SHK Diamond will be entitled to observe the inspection during the tender process by devices such as video cameras and other surveillance, to which the customer and his representatives have specially agreed.
Customers or their representatives will not have any diamonds or diamond related options in their possession while entering or leaving the inspection premises, they will not be allowed to enter the tender and legal action if they are found bringing any type of diamond or diamond related option can be carried out
(Therefore, do not bring the diamond related option or diamonds when entering the tender and leave the inspection room only after taking special care to check that no diamond or diamond related options are left on your body part by mistake)
No more than two persons at a time shall enter the room allotted for inspection for security purposes.
SHK Diamond will record the weight of each lot before and after each inspection of the diamond or diamond lot given to the customer.
Where there is a discrepancy between the weight recorded after inspection and the weight recorded before that inspection, the seller / SHK Diamond reserves the right to suspend the delivery of all goods, and will be entitled to search in that area where observation was made. The customer and his representative will not be entitled to leave the premises unless the Seller/ SHK Diamond approves. (Like weight of lot not verify with actual weight, etc.)
Each Customer agrees, that all its representatives agree that, at its sole discretion, SHK Diamond may take any security measures, any customer representatives present, consent to a thorough inspection or It can stay on campus until it feels right before it leave premises. In which the weight of the observed diamond is not limited enough.
Any suspicious behaviour committed by a customer or any of his / her representatives may be further investigated by SHK Diamond and may be referred for criminal investigation.
If a diamond inside a particular lot is either lost or severely damaged during inspection, the tender is offered to the customer at the tender selling price per carat value or at the reserve price of the lot, whichever is higher, depending on the officer appointed by SHK Diamond.
SHK Diamond shall not be liable for any loss or damage to the customer in the premises or any compensation shall be paid excluding liability for death or personal injury.

Result opening

Bids submitted by the customer, only open after the closing period for submission of bids provided by Seller or SHK Diamond and under the supervision of the Appointing Committee will open. (Which is a fully automated)
The seller, in his sole discretion, may determine the reserve price at which he is willing to make a particular sale and may at any time reduce or discount it.
Seller and / or SHK Diamond is not bound to announce the reserve price of any particular lot tendered to any customer and to announce the result price.
The Seller may, at its sole discretion, accept or reject any submitted bids.
Where two or more customers are bidding the same winning prices, the seller and / or SHK Diamond will contact each customer by phone to inform them that they are the joint-highest bidder with one or more parties for their bids and offers an opportunity to review the price. If both customers are inaccessible or decide to bid the same within thirty minutes after being notified, the seller and / or SHK Diamond will decide by lot in the presence of the Appointments Committee, with the highest bidder will be the winner.
The seller and / or SHK Diamond will be entitled to publish on the online platform and send the final results of the tender to the bidding customers via email, but are not bound.
In the event that there is no customer bidding more than once on a particular parcel, the seller / SHK Diamond is entitled to decide at its sole discretion whether to declare the customer as uncontested winner or not.

Transfer of Right

These Terms and Conditions, The seller and / or SHK Diamond may change, or delete any / all of the previous terms in related to the sale of diamonds through the online tender platform.
The Seller and / or SHK Diamond will be entitled to amend or modify the Terms and Conditions to make such revised Terms available on the Online Tender Platform, prior to participating in the Customer / Supplier’s Tender, to which the revised Terms apply. Therefore, it is imperative that the customer / supplier reads the terms and conditions carefully before handing over the diamond or diamond parcel every time through Jangad or memo.
For reference purposes, the current version of these Terms and Conditions will be available on the website of the online tender platform.
Customer / Supplier Note that Terms and Conditions by Seller and / or SHK Diamond and Agreements with Diamond, in whole or in part, are not entitled to transfer to any third party without the prior written consent of the seller. Any such assignment or transfer without the prior written consent of Diamond will be deemed void.

Payment

Diamonds or parcels of diamonds given to SHK Diamond from Jangad or Memo by supplier before making invoice on online tender platform, seller and / or SHK Diamond sold lot Will settle the declining weight to ensure that the customer / supplier pays the appropriate total price based on the final weight of the lot.
After announcing the winning lot through seller and / or SHK Diamond online tender process, within one working day winning lot in dollars ($) or rupee whichever is decided the supplier or customer has to submit invoice accordingly.
Diamond or diamond parcels given to SHK Diamond by Jangad or Memo from supplier if sold on online tender platform. Payment within 15 working days will be done through the bank by SHK Diamond which can often be delayed due to adverse conditions.
In case of delay in payment as per Section 09.03, payment of any kind of delay fee or interest shall not be made by the Seller and / or SHK Diamond or is not bound in any way to do so.
Diamonds or parcels of diamonds given to the seller and / or SHK Diamond on the basis of Jangad or Memo by the supplier are sold in the process of online tender platform, its prices (payment) to the supplier or customer will be done through bank transfer only.
Diamond or diamond parcels given to SHK Diamond from Jangad or Memo by the supplier if sold on online tender platform, any amount charged by the bank during the payment made from the bank and any additional charges like bank charges etc. to the customer / Or have to pay by supplier/customer.

Goods taken from supplier on the basis of jangad or memo

SHK Diamond will describe the parcels of diamonds or diamonds that are delivered to the seller or SHK Diamond by Jangad or memo for sale by the customer or supplier on the online tender platform on the basis of which the tender platform will be placed which will be an indication only which does not guarantee the nature, size, or quality of the goods contained inside the diamond or the diamond parcel.
Diamond or diamond lot supplied to SHK Diamond from customer or supplier on the basis of jangad or memo has to be given a basic price which will be checked by the representatives appointed by SHK Diamond, It is the sole discretion of the SHK Diamond to decide whether to place diamonds or diamond lot on the online tender platform when the delegates feel the price difference will be settled after negotiating with the customer or supplier.
Diamond or diamond parcels given to SHK Diamond from customer or supplier on the basis of Jangad or Memo which will be inspected by the buyer through the process of different machinery such as measuring machine from body, colour testing in colour meter, Marking with ethylene pen, to clean with chemicals like Toluene Chemical, Acetone Whitener etc. The seller or SHK Diamond will never be responsible for any change in the colour of the diamond as a result of which the supplier fully recognizes the impact on the diamond or diamond parcel.
Diamonds or parcels of diamonds given to SHK Diamond from customer or supplier on the basis of jangad or memo will remain in SHK Diamond till the stipulated days of online tender process with different time limits for different events. There may be a customer or supplier who will have to get the information himself every time which can often be delayed due to adverse conditions. The customer is aware of such a situation.
Working days can mean any day in India which is not a weekend or public holiday.

Private statement

At SHK Diamond we are committed to protecting the privacy of your personal information and other data provided to us by e-mail, phone or any other SHK Diamond online Tender platform.
SHK Diamond (Surat) 501 ‘Shukan Building JaddaKhadiMahidharpuraDiamond Market with GST number 24ADGFS3607L1ZY of the company registered business address, which collects personal data of any other contact of customers, suppliers and in accordance with’ Privacy Statement ‘ Handles.
The contact person for data protection at 501 ‘Shukan Building JaddaKhadiMahidharpura Diamond Market as following:

Government law and jurisdiction

The terms and conditions and any contract in accordance with them shall be governed by and construed in accordance with Indian law. All disputes will be present to court in Surat (Gujarat).
(Subject to Surat jurisdiction)
Child labour is not employed or child labour is not employed by SHK Diamond and child labour is not supported.
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