By completing our account opening process, you accept and acknowledge the terms and conditions of this Agreement and of all other legal documents and policies on our website www.diamondib.com (the “Website”).
You confirm that you have read, understood and accepted all of the terms and conditions contained in this Agreement and in all other agreement without modifications. By accessing or continuing to access the Website, you agree to comply to the terms and conditions of this Agreement.
We reserve the right to amend, modify, update and change any part of the Agreement, at any given time, and we will notify you of any such amendment, modification or change by publishing the new version of this Agreement on the relevant page of our Website. Any modified version of this Agreement will take effect 7 days after its publication on the Website and your continued use of the Website after the aforementioned 7 days will be deemed to constitute your acceptance of the changes to this Agreement. You must ensure that you are aware of the correct, current terms and conditions of the Agreement and we advise you to check for updates on a regular basis.
1.1. Acceptance of the Agreement
By using the Company services provided and accessing the Website and/or any of the Information (as defined below) from any Company source, you confirm, agree and accept all of the terms of this Agreement.
2.1. The term "User" includes the user, individual, and/or company applying for or using the Service.
2.2. The term "Service" refers to the services provided by the Company on the Website as further detailed below.
2.3. The term "Information" refers to any price lists, diamond lists, pricing information, news, Company data or any other information or data provided by the Company.
2.4. The term "Force Majeure Event" refers to without limitation: (a) any act, event or occurrence (including without limitation any act of god, disaster, strike, riot or civil commotion, act of terrorism, war, industrial action, acts and regulations of any governmental or supra national bodies or authorities) that reasonably prevents the Company from maintaining the Service or performing any transaction; (b) any breakdown or failure of transmission, communication or computer facilities, interruption of power supply, or electronic or communications equipment failure; or (c) any act or occurrence which is beyond the control of the Company.
3. Description of Service
3.1.Company provides the registered Users of the Website the access to raw diamonds purchasing platform, including the Information relevant for such purchase enabling the Users to buy raw diamonds either as as part of a group purchase specifically for such diamonds to be submitted to cutting and polishing for the purpose of maximizing the diamond’s value, following which the finished diamond will be offered for sale to third parties under the final pricing offered by such third parties (as further detailed under Finished Diamond Transaction Section 10) which will taking into account the markets value the “Service” Additional complimentary services may be offered to the Users on the Website which are subject to Users’ order of such services, including without limitations, notifications of classified high priority diamond sale.
3.2. The purchased diamonds will be offered for sale to third parties subject to Company’s sole discretion, and the collected payment from such sale will be evenly distributed between the Users who purchased such diamond and will appear as the balance on the User account with the Company.
3.3.It is hereby clarified that the Service includes the purchase of raw diamonds without the ability to foresee the outcome of the process of cutting and polishing and without the ability to estimate the final value of the Finished Diamond or the profit from such purchase or whether such profit will be generated at all.
3.4. Company can not and does not guarantee the quality, accuracy, reliability of any Information provided, nor is the Information an appraisal or guarantee of value.
3.5. Diamond grading and pricing is based on subjective methods and no guarantee is made or liability assumed as to the accuracy or validity of the Information provided by the Service or the expertise of the Company. Furthermore, the User acknowledges that there are risks involved in the processing the raw diamond purchased which are beyond the span of control of the Company.
3.6. Company can not and does not guarantee the quality of any third party providing services related to the diamond cutting and polishing. All Services provided are on an “AS IS” basis with no Company guarantees or warranties. User agrees that Company is not responsible for any additional, consequential or other damages or to damages beyond the Company’s span of control.
3.7. User acknowledges that the Company cannot and does not guarantee the time it will take to complete any transaction and such is subject to various factors, including the cutting and polishing of the raw diamond purchased, the certification, and the purchase by third party of such, all of which are beyond the control of the Company. Without derogating from the aforementioned, the Company will make reasonable efforts to proceed with the transaction in timely manner.
3.8. The User can not withdraw from a transaction of purchase of the raw diamond which User has entered into, and any such purchase of raw diamond upon its execution, must undergo the process of polishing, cutting, certifications and sale. The User can not interfere with the process and except for receiving updates of the status of such transaction and receiving the profits generated from such sale in the form further detailed under withdrawals.
3.9. In the event Company becomes aware of any illegal activity, impropriety in the account personal information or failure of any due diligence requirement, the Company will be entitled to freeze your User account. Should such an event occur Company will be entitled to withhold funds and may not be able to carry out subsequent instructions from the User.
4. Access to the Service
4.1. In order to access the Service, the User must complete the registration process and the KYC process required, including providing the Company with any and all documents and verifications required under any applicable policy, law and regulation.
4.2. In addition, in order to access the Service, the User acknowledged that the User is obligated to comply with requirements under any Anti Money Laundering laws and regulations as the case may be, and for that purpose, the User agrees and warrants to provide the Company with any information and documentation related to the use of the Service on the Website. Failure by the User to comply with the obligations herein will entitle the Company to immediately terminate User’s account, including any outstanding and open transactions.
4.3. Furthermore, the User must obtain at its own cost any equipment and software necessary to access and use the Service on the Website and shall be responsible for all charges necessary for such access and use.
4.4. Users must complete an application to open an account in order to access the Service and shall provide to Company: (i) a copy of a government issued identification document or certificate confirming and verifying that User is a duly constituted company, corporation or entity according to the laws of the state or country under which it was formed or incorporated; and (ii) a copy of any documents for the purpose of verifying the place of residence; and (ii) a government-issued identification document for each of the individual users of User who shall have permitted access to and use of the Service. Company will not make any personal identification documents available to anyone without User's permission except if requested to do so by any competent authority or law enforcement.
4.5. Company specifically does not guarantee your acceptance as a User. Company reserves the right to refuse, restrict, suspend, limit or terminate any or all Services provided to any User at any time for any reason subject to Company’s sole discretion.
4.6. Users who violate any of the provisions of this Agreement will be subject to having their User’s account immediately terminated and access to the Service denied. In addition, the Company reserves the right, in its sole discretion, to disclose the account information of any User who violates any of the terms of this Agreement or any laws, policies or regulations.
4.7. Users may not share, license or disclose their account or password with any third party. Password use is strictly limited to the registered User.
4.8. Users may not disclose or make use of the Company Service or Company Information or derivatives thereof except for User’s own personal use.
4.9. Users may not download Company listings or any other Company data without the permission of the Company.
4.10. In the course of using the Website and Service, the User may be disclosed of other Users names or information, the User may not share names or contact information of other Users with any third party and may not contact such Users directly.
4.11. Users may not access, use, store, share or distribute Company or Company Users information without the permission of the Users and the Company.
4.12. Users are required to fully comply with the terms of this Agreement and any additional trading rules, procedures or service requirements as published from time to time as circumstances require.
4.13. Subject to the terms of this Agreement, Company hereby grants User a personal, limited, non-exclusive, non-transferable, revocable right during the term of this Agreement, to use the Service and the Information exclusively by User, for User’s own personal use and for internal purposes only.
4.14. From time to time technical difficulties may render the service inoperable. Company does not guarantee uninterrupted service and accepts no liability for any such interruption.
4.15. The Website may contain links to other websites that are controlled or offered by third parties. Such links are not an endorsement, authorization, sponsorship or affiliation with respect to such website, its owners or its providers.
4.16. Users are responsible to monitor their account and to notify the Company in any case you suspect any breach or unauthorized access to it. You are to immediately notify Company should you become aware of any failure by you to receive a message indicating the reception and/or execution of a transaction, any information regarding your account balances, transactions history as well as in case you receive confirmation of a transaction which you did not place.
5.1. The various pricing structures and Service options will be displayed on the Company website. Company reserves the right to amend the pricing structure from time to time. Any changes will be posted on the Website.
5.2. The Fees payable to the Company for the Service provided are as follows:
a) Deposit Fee. A deposit fee at the rate of 4% of the deposit made by the User will be charged to Your Account.
b) Diamond Purchasing Fee. In each purchase of diamond, a purchase fee equal to 5% of the diamond total purchase price will be charged to Your account.
c) Diamond Purchase Fee. In each purchase of a diamond purchased by You, a purchase fee equal to 5% of the diamond total purchase price will apply to Your account.
d) Monthly Service Fee. A fixed monthly fee in the total amount of US $ 150 (one hundred and fifty US dollars) will apply on a monthly basis to Your account.
e) Profit Share. In addition, the Company will be entitled to receive a fee equal to 5% of the Profits (“Profit” under this Agreement shall refer to the total sale price of any Finished Diamond purchased with a deduction of the total raw purchase price of such Finished Diamond) earned by the User per transaction all as detailed on the sale description and details.
f) Withdrawal Fee. In the event of termination of this Agreement or at any event of any request for withdrawal of funds by the User (except in the event of termination or withdrawal request provided by any User who has not met the Bonus Threshold and/or Discount Threshold terms, in which case, fees will be in accordance with Section 10.6 to this Agreement), the Company will be entitled to receive and deduct a 7% withdrawal fee from the total funds withdrawn by the User at the time of the withdrawal request.
g) The Company will be entitled to withhold any funds existing in any User’s Account, for the purpose of securing all payments and fees due to the Company under this Agreement.
h) By entering into a transaction for the purchase or sale of any diamond, the User agree to the terms of such purchase and sale, including all fees due to the Company from such transaction, which are deemed approved by the User.
5.3. In addition to the fees due to the Company as above detailed, additional fees may apply in consideration for complimentary services ordered by the User, including without limitations, the services of notification of classified high priority diamond sale.
5.4. Without derogating from the aforementioned, the Company may, subject to its sole discretion, grant any User with discounts or waive any of the above-mentioned fees or commission.
5.5. Chargebacks. We may charge a $1200 fee in the event a chargeback is placed with your credit card company (either intentionally or unintentionally) for any transaction made to your Account. This fee will be used to cover all examination and inquiry expenses to prove that the deposit was made by the User. All fraud including credit card fraud will not be accepted by the Company and as such will be fully investigated and pursued under the law to its fullest extent. Any losses resulting on Company’s behalf will be fully pursued in a civil lawsuit to claim back any losses incurred covering all business, legal fees, research costs, human resource and loss of income.
5.6. Furthermore, in the event any Profit paid to the User for any transaction which is completed in the sale of the Finished Diamond to a third party is later subject to chargeback by such third party, the Company will be entitled to receive back from the User the Profits paid to such User for the chargeback transaction and for that purpose will be entitled to withhold any funds existing in the User’s account without derogating from any other rights to which it is entitled.
5.7. Safe Deposit Box Charge. In the event the User orders the services of bank safe deposit box, which include the delivery of the diamonds to and from the bank safe deposit box, an added charge will be applied for such services in accordance with the service cost which will be provided to the User upon User’s order of such service.
6. Use of the Service
User Agrees not to and shall not permit or assist any other party to:
6.1. Use the Service in any way that violates any applicable laws and regulations in any jurisdiction in which the User resides.
6.2. Access the Service in any unauthorized manner.
6.3. Copy or Reverse engineer the software source code or the underlying logic of the Website and the Service offered on the Website.
6.4. Post, upload, post or email through the use of the Service or any information disclosed to the User therewith or anything that contains computer codes, viruses, files or programs that may limit, interrupt, disrupt or destroy the functionality of any computer software, hardware or other equipment related to the Service or the Website.
6.5. Disrupt or interfere with the Service or the software provided therewith, including by means of using or accessing the Service in any manner which is not authorized or permitted.
6.6. Obtain or attempt to obtain unauthorized access to any part of the Service or the Website.
6.7. Deposit funds with the Company which do not belong to the User and are subject to lien, charge, pledge or other impediment.
6.8. Use funds for executing transaction on the Website which are in any direct or indirect way the proceeds of any illegal activity or used or intended to be used for terrorist financing.
6.9. Access the Service and the Website for the purpose of copying the software, logic, look and feel, or any features included on the Website for the purpose of creating competitive service.
6.10. Infringe or violate any this Agreement or any Trademark, Copyright or terms and conditions related to the Service.
6.11. Use any information provided by the Company on the Website for the purpose of User’s competing diamond operation or service.
6.12. Misrepresent the information obtained from the Service or alter any Information provided by the Service.
6.13. Review, copy and/or download any Information to any other website for use by entity or company which provides similar or competitive service related to diamonds, gems and jewelry.
6.14. No User shall abuse this website for the purpose of money laundering. We employ and practice Anti-Money Laundering (AML) procedures as required. We reserve the right to refuse to open an account for a User or to deny a User any transaction, to discontinue to do business with, and to reverse the transactions of, Users who do not accept or conform to the following AML requirements and policies: (i) Clients must provide all requested, accurate, authentic information upon registration; and (ii) Winnings will only be paid to the individual who initially opened the Account.
7. Intellectual Property and Confidentiality
7.1. “Intellectual Property” shall refer to the database, domain names, trademarks, service marks and all goodwill associated therewith and symbolized thereby, patents, patent applications, methods, software, source code, designs, components, business plans, price lists, inventions, discoveries, concepts, improvements, know-how, users’ lists, confidential information, design rights and any content made available on the Website and through the Service.
7.2. User acknowledges and agrees that the Intellectual Property including any content of the Website, the Service and information provided therein contain proprietary and confidential information owned solely and exclusively by the Company and is deemed confidential information of Company and protected by various property and intellectual property rights, international regulations, laws and treaties, including without limitations, misappropriation laws, copyrights, database rights, trademarks and/or patent rights.
7.3. With respect to the Intellectual Property, including all content of the Website, the Service and the Information and all data provided therein, User will not without the express written approval from the Company: (i) copy or create derivative work; (ii) translate, deconstruct, decompile, reverse engineer, disassemble or otherwise attempt to discern the whole or any part or component thereof; (iii) modify, adapt, translate or reproduce the whole or any part or component thereof, or merge the whole or any part or component thereof with or into other software or information; (iv) directly or indirectly distribute or make available the whole or any part or component thereof; or (v) take or authorize any action that could detrimentally interfere with the ownership by Company or the proper workings of the whole or any part or component thereof, including but not limited to, use any robot, spider or other device or process to monitor or copy the whole or any part or component thereof, or knowingly transmit any virus or other potentially harmful device in connection with User's use thereof.
7.4. User shall maintain Company’s confidential information is strict confidentiality and will use a commercially reasonable standard of care, at least the same standard of care, which it uses to protect its own similar confidential or proprietary information to keep Company’s information in strict confidentiality.
7.5. The intellectual property and confidentiality obligations under this Agreement shall survive the termination of this Agreement regardless of the cause of termination.
8. Technical Interruptions
User acknowledges that from time to time technical difficulties may render the Service or the Website inoperable. The Company will take commercially reasonable effort to correct errors, however, the Company can not and does not guarantee that the Service or the Website will run without interruptions, therefore, the Company accepts no liability for any such interruptions.
9. Service Limitations
9.1. Information. The Information provided is not a recommendation or advise of any kind urging the User to buy; nor is it an appraisal, guarantee of value, warranty, valuation, or offer to buy. Company does not guarantee that any User will make profit through the use of the Service. Pricing of the raw diamond purchased by the User following the process of polishing, cutting and certification, is influenced, calculated and finally decided depending on the Third party offer and may also be affected by supply and demand. The Company will make efforts to sell the Finished Diamond purchased by the User in the maximum price offered by any third party for such diamond; however, the Company can not guarantee or estimate the value of the Finished Diamond finally offered to sale for the purpose of generating Profit or that any Profit will indeed be generated by the User for any transaction.
9.2. Purchase. Company can not predict the value of any Finished Diamond purchased by User or that any raw diamond purchased will not be damaged or disintegrate in the process of polishing and cutting all of which are not under Company’s span of control and the User is aware of the risk entailed in such process. Furthermore, any raw diamond purchased by User is subject to grading analysis by the Third party offer and such is in no manner under Company’s control. The use of the Service by the User is on his or her own account and risk and Company provides no guarantees whatsoever.
9.3. Pricing. Diamond grades may vary each time a diamond is submitted for re-examination and often vary from laboratory to laboratory depending on the grading standards of the laboratory and the accuracy and training of their gemologists. No guarantee is made or implied as to the accuracy or validity of any information provided by the Service and/or the level of expertise of any information.
9.4. Finished Diamonds Pricing. User acknowledges that diamond pricing and diamond grading are not an exact science. Company prices are decided by physical examination of a diamond by a knowledgeable appraiser who determines the quality and value of specific diamonds. Each diamond's value depends on its unique characteristics, some of which may not be included in the information on a diamond grading report or the information provided by the Company. Company prices are limited in that they reflect Company’s opinion of the current market values based on the description and information of the Finished Diamond. There is no guarantee that the opinion of Company and/or that the grading information provided by a laboratory is accurate. The Pricing on Finished Diamonds may differ significantly from one transaction to another regardless of the similarities of the raw diamonds purchased.
9.5. User acknowledges that the pricing of any finished diamonds is subject to Company’s sole discretion. The prices provided under the Service may be substantially higher or lower than actual transaction prices in the various markets.
9.6. The User acknowledges that no representations, promises or guarantees of profits were made to him by or on behalf of the Company which has in any way enticed or persuaded him to enter into the Agreement.
9.7. Furthermore, the Finished Diamond will be offered to sale to third parties and the Company cannot guarantee that the offers received will be in the amounts similar to the value assigned to the Finished Diamond by the Company.
10. Finished Diamond Transactions.
10.1. The Finished Diamond will be offered to sale to third parties who will have the option to submit offers subject to their discretion (the “Offer”).
10.2. All Offers that are submitted by third party will appear under Store Offer and will be available for User to review under User’s account. Acceptance of any Offer is subject to unanimous agreement of all Users who purchased the Diamond, which must be provided by all Users submitting the “I agree” order on the relevant Offer page within the time limitation indicated below.
10.3. FOR EACH FINISHED DIAMOND, AN OFFER WILL BE SOUGHT FROM THREE THIRD PARTIES (THUS THREE STORE OFFERS). IN THE EVENT THERE IS NO AGREEMENT BY ALL USERS WHOSE AGREEMENT IS REQUIRED, ON ANY OF THE THREE OFFERS PRESENTED UNDER STORE OFFER, SIGNIFICANT LOSSES WILL BE INCURRED BY THE USERS, TOTALING UP TO 98% OF THE VALUE OF THE FINISHED DIAMOND, AND SUCH LOSSES WILL BE INDICATED UNDER ‘’FACTORY OFFER’’, FOLLOWING WHICH THE POLISHED DIAMOND WILL BE DEEMED UNAVAILABLE FOR SALE THUS WILL BE SOLD TO FACTORIES FOR GRINDING AND COMMERCIAL USES (‘’SALE IN LOSS’’).
10.4. Any diamond under the status of Sale in Loss will be offered for sale to factories. Any offer to purchase by such factories will require unanimous acceptance of all relevant Users. In the event no unanimous acceptance is achieved, such Sale in Loss diamond will be held in trust by the Company until an additional offer is received for which unanimous acceptance is submitted or until the relevant Users unanimously agree on selling the respective Sale in Loss diamond to any offering third party.
10.5. It is hereby clarified that a transaction under which a Finished Diamond is sold to any third party, including Factory Offers Sale in Loss, requires unanimous acceptance and approval of all Users who purchases such Diamond, which is deemed received by Users clicking and submitting the “I Agree” button on User’s account under the relevant transaction page. In the event any User fails to submit their response, such user is deemed to press “I Decline” button.
10.6. Users’ will be required to submit their response to any Offer within 1 day following the receipt of the Offer as indicated under User’s account.
10.7. Following A status of Factory Offer, the Users may choose to request additional offers from five different third parties who will be entitled to submit an offer to purchase the Factory Offer diamond at a price which is at least 20% above each User’s investment (the ‘’Second Round Offers’’). In the event a unanimous acceptance of all Users is submitted, the Factory Offer diamond will be sold under the terms of the Second Round Offers and the Company will be entitled to receive a fee equal to 20% of the User’s investment amount. If no unanimous acceptance is received, the diamond will return to Sale in Loss status. The same offer could be repeated for a “Third Round Offers’’ under the above terms.
10.8.In the event the diamond status returns to Factory Offer after Third Round Offers, the User will be entitled to pay 20% of the investment amount to the Company in order to receive 80% of the investment amount.
10.9. In all other cases, following Second or Third Round Offer for which no unanimous acceptance is received the Sale in Loss diamond will be held in trust by the Company.
11. Bonus; Discounts (VIP PAM)
11.1. The Company may from time to time and subject to Company’s sole discretion offer User certain benefits as follows: (i) a bonus to be used by the User to execute transactions with the Company on the Website which will be deposited in User account with the Company and will be subject to certain limitations (the “Bonus”); and/or (ii) Special and reduced diamond purchase price (30% price reduction) applicable exclusively for User’s first three (3) diamond purchase transactions with the funds specifically deposited by the User under the VIP PAM program (the “Discount”).
11.2. Acceptance of the Bonus or the Discounts is subject to User’s sole discretion.
11.3. The User acknowledges that the Bonus if granted to the User is money deposited by the Company, subject to Company’s sole discretion, for the purpose of promoting profits of both the User and the Company.
11.4. The User acknowledges and accepts that certain limitations will be applied to the User account should the User accept the Bonus and/or the Discounts (under the VIP PAM), which will be removed upon compliance with certain terms, all as follows:
11.4.1. While the User may use the Bonus money or Discounts upon its acceptance, the actual entitlement to the Bonus or Discounts value and any Profits generated following its acceptance, is subject to the execution by the User of diamond purchase transactions on the Website which will generate sufficient net Profits, of which 5% will be equal to the total Bonus or Discount value granted to the User (the “Bonus Threshold” or “Discount Threshold” respectively). The Bonus and Discount funds and any Profit generated by the User as a result of using the Bonus or Discounts are deemed to be the property of the Company until the completion by the User of the Bonus Threshold and/or Discount Threshold required following the receipt of the Bonus or Discount. Failure by the User to fulfill such Bonus Threshold and/or Discount Threshold will result in deduction from User’s account of: (i) the Bonus funds and/or Discount value granted; and (ii) any Profits earned by the User from using such Bonus funds or Discounts; and (iii) increased withdrawal fees as specified herein below, in Section 11.6.
11.4.2. The User acknowledges that in the event the Bonus Threshold and/or the Discount Threshold is met by User, the Company will be entitled to receive 5% of any Profit generated by the User by using the Bonus funds or Discounts granted by the Company.
11.5. It is hereby clarified that the User may refuse the Bonus offered to the User and/or may avoid depositing funds under the VIP PAM for receiving Discounts, however, should the User choose to accept the Bonus and/or receive Discounts under the VIP PAM, the Company may withhold any and all funds existing in User’s account, until the User fulfills the Bonus Threshold and/or the Discount Threshold terms and pays back the Bonus or Discount money received, specifically from the Profits generated by the User on User’s account so that Company’s 5% fee from User’s Profits will be equal to the total amount of the Bonus and/or Discounts granted to the User.
11.6. Any request by a User to withdraw funds existing in such User’s account, following receipt of a Bonus or a Discount and prior to fulfilling the Bonus Threshold and/or Discount Threshold terms, will entitle the Company to receive and deduct a fee equal to 20% of the total funds requested to be withdrawn by such User, regardless of additional deduction of other fees applicable in accordance with Section 5 (Fees) above, including deduction of the Bonus and/or Discounts and Profits generated thereof in accordance with the above section 10.4.1 and/or fees waived by the Company.
11.7. The User acknowledges that the Bonus and/or Discount (VIP PAM) terms may be amended by the Company from time to time.
12.1. The User acknowledges that the balance existing in the User’s account with the Company may be received by the User in the form of merchandise so long as no limitations apply to User’s account (including the Bonus limitations as above mentioned). Upon User’s submission of a withdrawal request, the Company will process the withdrawal request and will deliver the User, to the address provided to the Company by the User, a diamond of equal value to the User’s balance. The diamond provided to the User upon withdrawal of the balance will include certifications. Furthermore, in the event the User wishes to use the Company’s services to sell the diamond received by the User as a withdrawal of balance under this section, then the Company will make reasonable efforts, without guarantees, to sell the diamond on behalf of the User, in the best price possible all subject market prices and limitations. Any funds received form such sale of the diamond as aforementioned, will be transferred to the User’s bank account subject to confirmation of User’s KYC details all in accordance to AML requirements as indicated under section 6.14 above.
12.2. To remove all doubt, withdrawals of any funds in User’s account is subject to the Bonus Threshold as above indicated, thus any withdrawal of funds from User Account following receipt of a Bonus is subject to fulfilling the obligations and meeting the limitations of the Bonus indicated above, in a manner that 5% of the Profits generated by the User on User Account cover the total amount of the Bonus received by User from the Company.
12.3. It is hereby clarified that the User may refuse the Bonus offered to User, however, should the User choose to accept the Bonus the Company may withhold any and all funds existing in User’s Account balance, until the User pays back the Bonus money received, all from the Profits generated by the User on User’s Account so that Company’s 5% fee from the Profits will be equal to the total amount of the Bonus granted to the User.
12.4. In the event the Company is unable to provide the User a diamond of equal value to the User’s balance, then the Company will transfer the balance to the User’s account.
13. Disclaimer of Warranties
USE OF THE WEBSITE, THE SERVICE AND INFORMATION IS AT USER’S SOLE RISK; THE WEBSITE SERVICE AND INFORMATION IS PROVIDED ON AN AS-IS AND AS AVAILABLE BASIS WITHOUT WARRANTIES OR REPRESENTATIONS OF ANY KIND. COMPANY SHALL HAVE NO LIABILITY AND EXPRESSLY DISCLAIMS ALL WARRANTIES WHETHER EXPRESS OR IMPLIED AND CONDITIONS OF ANY KIND, INCLUDING BUT NOT LIMITED TO REPRESENTATIONS, WARRANTIES OR CONDITIONS REGARDING ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, PROFITABILITY, NON-INFRINGEMENT, SATISFACTORY QUALITY, OR MERCHANTABLE QUALITY OR THOSE ARISING BY LAW, STATUE, USAGE OF TRADE, OR COURSE OF DEALING. COMPANY ASSUMES NO RESPONSIBILITY TO USER, OR TO ANY THIRD PARTY FOR THE CONSEQUENCES OF ANY ERRORS OR OMISSIONS
COMPANY MAKES NO WARRANTY THAT (I) THE SERVICE WILL MEET USER`S REQUIREMENTS, (II) THE SERVICE WILL BE UNINTERRUPTED, TIMELY, SECURE OR ERROR FREE, (III) THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE SERVICE WILL BE ACCURATE OR RELIABLE (IV) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU THROUGH THE SERVICE WILL MEET YOUR EXPECTATIONS, (V) THE VALUE OF THE FINISHED DIAMOND, (VI) THAT YOU WILL GENERATE PROFIT FROM THE PURCHASE OF THE RAW DIAMOND OR THAT YOU WILL NOT LOSE THE MONEY SPENT FOR THE PURCHASE OF THE RAW DIAMOND, AND (V) ANY ERRORS IN THE SOFTWARE WILL BE CORRECTED.
ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SERVICE IS DONE AT USER`S OWN DISCRETION AND RISK AND THE USER WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO THEIR COMPUTER SYSTEM OR LOSS THAT RESULTS FROM THE USE OF THE SERVICE.
NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY THE USER FROM COMPANY OR THROUGH OR FROM THE SERVICE SHALL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS AND CONDITIONS.
ANY OR ALL WARRANTY IS STRICTLY LIMITED TO THE INDIVIDUAL USER THAT HAS REGISTERED AND PAID FOR THE SERVICE. NO WARRANTY OF ANY KIND IS EXTENDED TO ANY THIRD PARTIES.
14. Limitations of Liability
USER EXPRESSLY UNDERSTANDS AND AGREES THAT COMPANY SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO DAMAGES FOR LOSS OF PROFITS OR OF THE INITIAL PURCHASE PRICE, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES (EVEN IF COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), RESULTING FROM (I) THE USE OR INABILITY TO USE THE SERVICE (II) THE COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY GOODS, DATA, INFORMATION OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH OR FROM THE SERVICE; (III) STATEMENTS OF CONDUCT OF ANY THIRD PARTY AS THE RESULT OF ANY USE OF THE SERVICE (IV) DAMAGE TO THE DIAMONDS DURING THE POLISHING AND CUTTING SERVICES, AND ALL OTHER MATTER RELATING TO THE SERVICE.
COMPANY CAN PROVIDE THE SERVICE AVAILABLE VIA THE WEBSITE FOR A RELATIVELY SMALL FEE ONLY BECAUSE OF THE LIMITATIONS OF LIABILITY AND WARRANTY EXPRESSED IN THIS AGREEMENT. IN ALL INSTANCES COMPANY’S AGGREGATE LIABILITY WILL NOT EXCEED THE FEES PAID BY THE USER TO THE COMPANY FOR USE OF THE SERVICE RELATING TO THE TRANSACTION GIVING RISE FOR SUCH CLAIM.
COMPANY SHALL NOT BE LIABLE FOR ANY LOSS, DAMAGE OR EXPENSE RESULTING FROM ANY ERROR IN THE INFORMATION PROVIDED BY COMPANY OR THE SERVICE OR FROM USE OF THE SERVICE EVEN IF CAUSED BY OR RESULTANT FROM THE NEGLIGENCE OR OTHER FAULT (EXCEPT FRAUD, WILLFUL MISCONDUCT OR GROSS NEGLIGENCE) OF COMPANY.
COMPANY SHALL NOT BE LIABLE FOR DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES RESULTING FROM ANY ERROR, BREACH OR OMISSION UNDER THIS AGREEMENT, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
COMPANY DOES NOT GUARANTEE THAT DIAMONDS LISTED ON THE WEBSITE WILL BE SOLD TO ANY OF THE USERS; NEITHER DOES THE SERVICE PROVIDE ANY AUTHORIZATION OF THE SAID GRADING APPEARING IN THE CERTIFICATIONS OF THE DIAMONDS.
COMPANY DOES NOT GUARANTEE THE ACCURACY OF THE DIAMOND PRICING SERVICE AND GIVES FULL NOTICE THAT COMPANY PRICES ARE BASED ON COMPANY'S SUBJECTIVE OPINION OF MARKET PRICES, MARKET CONDITIONS AND THE RELATIVE VALUE OF VARIOUS TYPES, SIZES AND QUALITIES OF DIAMONDS. DIAMOND GRADING, PRICING AND ANALYSIS IS NOT AN EXACT SCIENCE AND IS BASED ON THE SUBJECTIVE OPINION AND ANALYSIS OF THE PERSON PROVIDING THE INFORMATION. WE DO NOT GUARANTEE THE ACCURACY, AUTHENTICITY OR RELIABILITY OF ANY DIAMOND GRADING REPORT OR OTHER INFORMATION BEING PROVIDED TO YOU.
COMPANY EMPLOYEES MAY PROVIDE USERS WITH PERSONALIZED INFORMATION VIA EMAIL, TELEPHONE OR IN WRITING. THIS INFORMATION IS BASED ON THE SUBJECTIVE OPINION OF THE INDIVIDUAL PROVIDING IT. WHILE WE WILL MAKE EFFORTS TO ASSURE THAT OUR EMPLOYEES, AGENTS, ASSOCIATES AND/OR CONSULTANTS ARE KNOWLEDGEABLE ABOUT DIAMONDS AND DIAMOND PRICES, WE DO NOT GUARANTEE THE ACCURACY, EXPERTISE, EXPERIENCE, BACKGROUND OR KNOWLEDGE LEVEL OF ANY PERSON PROVIDING INFORMATION.
COMPANY SHALL NOT BE LIABLE, AND USER SHALL HAVE NO CLAIM AGAINST COMPANY, FOR ANY SERVICES PERFORMED FOR OR ON BEHALF OF ANY USER BY ANY THIRD PARTY, INCLUDING FOR ANY SERVICES PERFORMED BY ANY COMPANY APPROVED THIRD PARTY BENEFIT PROVIDER.
15. Exclusions and Limitations
Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. In those jurisdictions, the disallowed exclusions should be regarded as deleted and severable from this Agreement.
Notices to Users may be made via either Email or regular mail. The Service may also provide notices of changes to the terms and conditions or other matters by displaying such notices or links to revised terms and conditions on the Service. Notice to Company may be made by registered mail to Company to [email protected].
17.1. The term of this Agreement shall be for one (1) year (the "Term") and shall be automatically renewable for successive one (1) year periods (the "Renewal Term"), unless terminated by either party. This License will automatically terminate if any membership or subscription User has with Company lapses or is terminated for any reason.
17.2. Company shall have the ability to terminate this Agreement for any reason at any time.
17.3. Upon termination of this Agreement for any reason, the licenses granted to User herein shall immediately cease. Upon termination of this Agreement, User shall immediately cease using the Service, its software, the Information, including but not limited to, its components and methods of calculation, all information provided by the Service and the content of Company. User may no longer access the Service, its software, the Information, including but not limited to, its components and methods of calculation, any information provided by the Service and the content of Company after termination of this Agreement and You shall promptly, at our option, delete any Service, software, Information, including but not limited to, its components and methods of calculation, all information provided by the Service and the content of Company, and all copies thereof from your storage facilities and/or promptly return to us all originals and copies thereof, along with all documentation and other confidential information provided pursuant to this License. At our request, you shall provide to us written confirmation from a director or your internal legal counsel, of compliance with this clause 17.3.
17.4. All restrictions which by their nature shall survive the termination of this Agreement, shall survive such termination.
This Agreement governs the relationship between the Company and the User and the use of the Website and the Service by the User and supersedes any prior agreements. This Agreement shall be governed by the laws of the State of Hong Kong. Any dispute arising with respect to any term or condition of this Agreement shall be referred to and finally resolved by confidential arbitration in Hong Kong under the Hong Kong rules, by sole arbitrator whose ruling will be provided within thirty (30) days and shall be final and binding. The failure of Company to exercise or enforce any right or provision of this Agreement shall not constitute a waiver of such rights or provisions. If any provision of this Agreement is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in these provisions and the other provisions of this Agreement shall remain in full force and effect. User agrees that regardless of any law to the contrary any claim or cause of action arising out of or related to use of the Website and the Service or this Agreement must be filed within six (6) months after such claim or cause of action or forever be barred. The Company will not be held liable for any failure in the Website or the Service or breach of this Agreement as a result of Force Majeure event. The section titles of this Agreement are for convenience only and have no legal or contractual effect.