For Investors Whilst we strongly believe in diamonds as an investment class, the
opinions and forecasts of Prestige Jewels should not be relied upon as any implied
or explicit guarantee of return. The diamond industry is self-regulating, and is
not under the authority of the FSA. Prestige Jewels is not a collective investment
scheme, but rather a specialist coloured diamond dealer. It is assumed that each
client is aware of the potential risks and rewards in any investment, and makes decisions
based on their own knowledge, risk profile and experience.
In these Conditions, the following definitions apply:
In these Conditions, the following rules apply:
(i) A person includes a natural person, corporate or unincorporated body (whether
or not having separate legal personality).
(ii) A reference to a party includes its personal representatives, successors or
(iii) A reference to a statute or statutory provision is a reference to such statute
provision as amended or re-enacted. A reference to a statute or statutory provision
includes any subordinate legislation made under that statute or statutory provision,
as amended or re-enacted.
Business Day a day (other than a Saturday, Sunday or public holiday) when banks in
London are open for business Conditions the terms and conditions set out in this
Document Contract the contract between the Seller and the Customer for the sale and
purchase of the Diamond(s) in accordance with these Conditions Customer the person
who purchases the Diamond(s) from the Seller Force Majeure Event has the meaning
given in clause 7 Diamonds the diamond or diamonds set out in the
Order, Order an order made orally or in writing by the Customer for the purchase
of Diamonds from the Seller, Seller Prestige Jewels
(iv) Any phrase introduced by the terms including, include, in particular or any
similar expression shall be construed as illustrative and shall not limit the sense
the words preceding those terms.
(v) A reference to writing or written includes faxes and e-mails.
2. Basis of Contract
2.1 These Conditions apply to the Contract to the exclusion of any other terms that
Customer seeks to impose or incorporate, or which are implied by trade, custom, practice
or course of dealing.
2.2 The Contract constitutes the entire agreement between the parties. The Customer
acknowledges that it has not relied on any statement, promise or representation made
or given by or on behalf of the Seller which is not set out in the Contract. Any
samples, descriptive matter, or advertising material issued by the Seller and any
descriptions or illustrations contained in the Seller's catalogues or brochures are
issued or published for the purposes of giving an approximate idea of the diamonds
described in them and are intended for illustration purposes only. They shall not
form part of the Contract or any other contract between the Seller and the Customer
for the sale of the Diamond(s).
3.1 All of the diamonds that the Seller offers for sale are natural coloured diamonds.
3.2 The Seller warrants that all diamonds sold by the Seller have been purchased
from legitimate sources not involved in funding conflict, and are in compliance with
United Nations Resolutions.
4. Ordering and Payment
4.1 Once the Seller has accepted an Order the Customer shall be obliged to pay a
deposit equal to 10% of the total price of the Diamond(s) which are the subject of
4.2 Subject to and conditional upon the payment of the deposit by the Customer the
Seller shall issue an invoice to the Customer for the Diamonds and the Customer shall
pay the balance of the purchase price within 14 Business Days of the date of the
4.3 The Customer shall make all payments to the Seller under the Contract in Pounds
Sterling by cheque sent to the contract address, direct transfer to the Seller's
bank account or by making a credit/debit card payment.
4.4 The Seller shall not be obliged to deliver the Diamond(s) to the Customer until
full payment of all sums due to the Seller has been made in cleared funds.
4.5 Title to the Diamond(s) shall remain vested in the Seller and shall not pass
Customer until such time as full payment for the Diamond(s) has been made in
accordance with the terms of these Conditions.
4.6 The Customer shall be entitled to rescind the Contract and claim a refund of
the deposit paid to the Seller (pursuant to the provisions of clause 4.1 hereof)
if the Customer sends a notice in writing to that effect to the Seller within 28
days of the date of the invoice whereupon the Seller shall refund the deposit (less
a deduction equal to 10% of the deposit amount in respect of the Seller's administration
charge). In the event that the Customer has failed to serve the notice in writing
rescinding the Contract strictly in accordance with the provisions of this clause
4.6, the Customer shall be bound by the Contract and required to pay the balance
of the purchase price for the Diamonds in accordance with the provisions of clause
4.7 If the Customer fails to make any payment on the due date (whether legally demanded
or not) the Customer shall in addition to the amount payable to the Seller pay interest
on the outstanding sum at the rate of 10% per annum above the base lending rate from
time to time of Barclays Bank Plc until payment is made in full (whether before as
well as after any judgment).
5.1 The Seller will deliver the Diamond(s) to the Customer at the address stated
on the invoice by Brinks or FedEx or Special Delivery at the Seller's discretion
and expense, within 14 Business Days after receiving the balance of the purchase
price and any accrued interest in cleared funds from the Customer. All deliveries
will have to be signed for by the Customer or an appointed representative of the
Customer whose name shall have been notified to the Seller before delivery is attempted.
5.2 Risk of loss in the Diamond(s) shall pass from the Seller to the Customer upon
delivery to the Customer.
6. Post Sales
6.1 Upon the Seller receiving full payment for the Diamond(s) from the Customer,
when delivering the Diamond(s) to the Customer, the Seller shall also provide the
Customer with an institutional gemmological certificate.
6.2 The Seller offers a 7 days refund policy, which period starts from the date of
delivery in accordance with Clause 5 above.
6.3 The Customer must notify the Seller in writing that he is seeking a refund and
Customer or an appointed representative (whose name shall have been notified to the
Seller in advance) must then in person return the Diamond(s) to the Seller within
the 7 day period. The Seller will not accept the return of Diamond(s) by any other
method and outside that period.
6.4 The Seller will issue a full refund to the Customer by bank transfer or cheque
payment at the Seller's discretion no later than 14 Business Days after the Diamond(s)
are returned to the Seller provided that:
6.4.1 The diamond(s) returned to the Seller match precisely the Diamonds sold by
the Seller to the Customer as specified in the certificate by the Seller under clause
6.1 hereof; and
6.4.2 The Diamond(s) are in their original condition and have not been tampered with
in any way; and
6.4.3 The Diamond(s) have not been set in any jewellery.
6.5 If any of the conditions set out in clause 6.4 are not complied with strictly
complete satisfaction of the Seller) then the Seller shall not be obliged to refund
to the Customer the purchase price for the Diamond(s).
6.6 The Seller will not issue a refund to any Customer if a claim for a refund is
made after 7 days after delivery to the Customer in accordance with Clause 5 above.
7. Force Majeure
Neither party shall be liable to the other for any failure or delay in performing
obligations under the Contract to the extent that such failure or delay is caused
Force Majeure Event. A Force Majeure Event means any event beyond a party's
reasonable control, which by its nature could not have been foreseen, or, if it could
have been foreseen, was unavoidable, including strikes, lock-outs or other industrial
disputes (whether involving its own workforce or a third party's), failure of energy
sources or transport network, acts of God, war, terrorism, riot, civil commotion,
interference by civil or military authorities, national or international calamity,
armed conflict, malicious damage, breakdown of plant or machinery, nuclear, chemical
or biological contamination, sonic boom, explosions, collapse of building structures,
fires, floods, storms, earthquakes, loss at sea, epidemics or similar events, natural
disasters or extreme adverse weather conditions, or default of suppliers or subcontractors.
The Customer shall not be entitled to transfer any of its rights or obligations under
the Contract to any person without the prior written consent of the Seller which
the Seller may withhold at its discretion.
All notices sent to the Seller shall be sent by the Customer to the address of the
Seller provided on the invoice. Any notices sent to the Customer shall be sent by
the Seller to the Customer to the e-mail or postal addresses previously provided
by the Customer to the Seller. Notice will be deemed to have been received and properly
served 24 hours after an e-mail is sent or three days after the date of posting of
any letter. In proving the service of any notice, it will be sufficient to prove,
in the case of a letter, that the letter was properly addressed, stamped and placed
in the post and, in the case of an e-mail, that the e-mail was sent to the specified
e-mail address of the Customer.
10. Third Party Rights
A person who is not party to the Contract shall not have any rights under or in
connection with them under the Contracts (Rights of Third Parties) Act 1999.
If any court or competent authority decides that any of the provisions of these
Conditions make the Contract invalid, unlawful or unenforceable to any extent, the
provision will, to that extent only, be severed from the remaining provisions of
Contract, which will continue to be valid to the fullest extent permitted by law.
12. Governing Law and Jurisdiction
The Contract (including these Conditions) shall be governed by and construed in
accordance with the laws of England and Wales and each party agrees to submit to
the exclusive jurisdiction of the courts of England and Wales.