Terms and Conditions

Definitions:

1. A) Enrolment Date – Date of the first payment by the customer.
   B) Company – Refers to Artia & EFD.
   C) Plan – Refers to Abhivriddhi Gold Purchase Plan.
   D) Maturity Date – 330 days from the enrolment date.
   E) Redemption Period – 30 days following the maturity date.
   F) Cancellation by Company – Occurs if the customer defaults for three consecutive months.
   G) Cancellation by Customer – Voluntary withdrawal by the customer before completing the 10-month tenure.
   H) Customer – Any individual who enrols in the plan.
   I) Bonus Instalment – Additional instalment paid by the company after completion of 10 months by the customer.

Terms:

1. Customers must read and accept all terms, as they form the binding agreement between the Customer and Artia & EFD (Franchise Partner – Tibarumal Jewels Pvt Ltd).
2. The plan requires customers to make 10 consecutive monthly payments of ₹15,000 or more (in multiples of ₹5,000). The company contributes the 11th bonus instalment upon completion.
3. Only individuals aged 18 and above can enrol. Entities like companies, HUFs, trusts, or firms are not eligible. Instalments must not be paid using borrowed funds.
4. Regular and timely payments are essential to qualify for the bonus instalment and any in-store promotional discounts.
5. The enrolment date marks the start of the plan and becomes the fixed date for subsequent monthly instalments.
6. After completing 10 instalments, customers must wait 30 days for the plan to mature before making a jewellery purchase based on the accumulated gold value.
7. A monthly invoice reflecting the gold grammage equivalent to the payment amount will be issued. Customers can redeem the total grammage accumulated at maturity through a gold-to-gold valuation process.
8. Redemption must occur within 330 to 365 days of enrolment. If redemption is not completed, the company will generate a sale invoice for the jewellery and pay applicable GST. The items will be held under “stock in custody” until collected. Valuation is based on gold rates as of the maturity date.
9. If the customer defaults or exits the plan early, the bonus and associated benefits are forfeited. However, jewellery can be purchased based on accumulated gold grammage.
10. Delayed or skipped instalments make the customer ineligible for the plan’s bonus benefits. Final redemption will be limited to the gold value accumulated.
11. Valid KYC documents are required at enrolment and throughout the plan. A PAN card is mandatory for cumulative contributions exceeding ₹2 lakhs.
12. The bonus instalment is credited only after 10 successful monthly payments. Mid-term claims for the bonus are not permitted. Plans are automatically terminated after 3 consecutive defaults, and benefits are withdrawn.
13. The Abhivriddhi Plan cannot be clubbed with other offers or future schemes.
14. Jewellery must be purchased before the end of the redemption period. The bill will include GST and must be generated before or at maturity.
15. Minors are not eligible to enrol in the plan.
16. Customers can appoint a nominee. KYC for both customer and nominee must be submitted at enrolment.
17. Only payments made on the exact due date will be accepted. Multiple or delayed payments are not allowed.
18. The company will not send payment reminders. However, confirmation of received payments will be sent.
19. Payments can be made online or offline. Customers must ensure they receive an official receipt. Do not pay any agent/salesperson without acknowledgment.
20. Online payments are recorded based on the transaction date. The company is not responsible for technical or banking delays.
21. If the jewellery purchased exceeds the gold value deposited, the excess amount must be paid by the customer.
22. *Stone charges and other applicable fees will be charged on stone-studded and exclusive jewellery.
23. Any change in contact details or address must be communicated along with updated KYC documentation.
24. The signature at enrolment must match the one at redemption. If a relative is authorized for redemption, their KYC must also be submitted.
25. The company is not liable for changes in taxation or government regulations. Any additional costs shall be borne by the customer.
26. This plan is non-transferable. Customers may withdraw as per the stated terms but cannot transfer ownership.
27. Redemption is only allowed through jewellery purchase. Cash or credit note redemptions are not permitted.
28. Artia & EFD, and Tibarumal Jewels Pvt Ltd’s liability is limited to the amount deposited and the benefits stated in the plan. No other warranties or guarantees are implied.
29. The company holds the right to amend, modify, or suspend the plan without prior notice. Refunds will not be processed. Jewellery purchase will be allowed as per the gold value accumulated.
30. All legal matters will be governed by the jurisdiction of the competent courts in Hyderabad, Telangana.