Kalpavruksha Golden Benefit Plan
1. Kalpavruksha Golden Benefit Plan [“the Plan”] is a plan to enable the Participant to purchase jewellery from the showroom of Tribhovandas Bhimji Zaveri Ltd. [“TBZ – The Original” or “TBZ”].
2. The Plan is an instalment plan. Under the plan, every Participant is required to pay the Monthly Instalment [defined herein below] for a period of 10 [ten] months. During the Plan Period [defined herein below], the Participant cannot increase/decrease the amount of the Monthly Instalment but the Participant may be permitted by TBZ to open a fresh separate account under the prevailing Plan.
3. As per the terms and conditions of the Plan:
3.1. “Discount” means the making discount percentage on Gold Jewellery to be availed by the Participant only upon completion of the Plan by the Participant by consistently depositing the Monthly Instalments on time and in full, in accordance with the terms and conditions contained herein. The making discount percentage offered shall be calculated on the basis of the number of monthly instalments paid by the Participant as per the terms specified hereinbelow.
3.2. “Gold Jewellery” shall mean ornaments made primarily from gold, including but not limited to necklaces, bracelets, earrings, rings, bangles, chains, pendants, and nose pins. The term may also include jewellery that is made of gold alloyed with other metals with precious or semi-precious stones (excluding diamond), as long as gold is the principal metal. Provided it shall not include gold coins, diamond jewellery, gold bars.
3.3. “Last Due Date of the Plan Period” shall mean the last date of the last calendar month in which the Tenth Monthly Instalment is due.
3.4. “Maturity Amount” shall mean the total amount of the Monthly Instalments paid by the Participant and the eligible making Discount subject to the terms and conditions provided herein.
3.5. “Maturity Date” of the Plan means the 31st [thirty first] day after payment of the last Monthly Instalment, by the Participant under the Plan, which shall be applicable only after the Participant making the 6th monthly payment.
3.6. “Merchandise” shall include any product made of gold or any other precious metal, precious/semi-precious stones, which may be contained in such product sold by TBZ in the Showroom or through its website and shall at all times exclude any gift voucher or gift cards issued TBZ.
3.7. “Monthly Instalment” means the amount to be paid by the Participant each month, for a period of 10 [ten] consecutive months to TBZ on the terms and conditions contained herein. Provided this amount shall not be less than Rs. 3,000/- [Rupees Three Thousand only] and can be increased in multiples of Rs. 1,000/- [Rupees One Thousand only].
3.8. “Participant” means any individual who is a resident of India and is competent to contract under law.
3.9. “Plan Period” means the period during which the Participant is liable to pay the ten Monthly Instalments and one month thereafter.
3.10. “Showroom” or “Showrooms” means the retail stores owned and operated or franchised by TBZ under the TBZ brand, which may include those managed by TBZ and those operated by authorized franchisees in accordance with TBZ’s brand standards and guidelines.
Payment
4. The First Monthly Instalment is payable when the Participant enrol under the Plan.The remaining 9 [nine] Monthly Instalments are payable in the 9 [nine] successive calendar months, any time during the calendar month. Payment to be made shall be within the prescribed business hours of 9:00 AM to 9:00 PM. For example, if the Participant enrol for the Plan on 5th January 2025, then the first instalment will be payable simultaneously with such enrolment i.e., on 5th January, 2025. The next instalment will be payable on or after 1st February, 2025 but on or before the last day of February, 2025. Accordingly, the last Monthly Instalment, i.e., 10th instalment, shall be payable between 1st and 31st October, 2025. Maturity Date of the Plan will be the 31st day after such payment of the last Monthly Instalment. The In the event the customer defaults in making the payment of a monthly instalment, the payment made thereafter shall first be applied towards the payment of the month for which the payment has been defaulted / delayed / skipped.
5. The Monthly Instalment may be paid by cash (not exceeding a sum of Rs. 1,99,999/- cumulatively for the plan period), cheque (payable at par) in favour of ‘Tribhovandas Bhimji Zaveri Limited’, Credit Card, Debit Card or online payment on or before the last date of the each calendar month. No payment shall be accepted beyond the completion of 306 days from the enrolment date.
6. TBZ shall not be responsible for any online payment failure and money being debited from the customer’s account. In case of any payment failure, the Participant is requested to check with their banks or other service providers It is the responsibility of the Participant to enter the details properly and correctly. The monthly payments should reach TBZ on or before the last date of the each calendar month.
7. If the Monthly Instalments are paid by cheque / demand draft / pay order, the same must be dated and deposited on or before last five (5) full Business Days prior to the end each calendar month Outstation cheque will be accepted provided the same shall be payable at par. In the event of a later deposit, the cheque shall be deemed received for processing in the following calendar month, and any associated obligations shall be treated accordingly. For the purpose of this clause Business Day shall mean a day on which commercial banks are open for banking business at the Showroom where the cheque has been deposited.
8. In case any cheque is dishonoured, the Participant will be charged an amount in the sum of Rs. 200/- [Rupees Two Hundred only] or actual bank charges, whichever is higher TBZ shall not be liable to inform the Participant of such dishonour on or before the last date of a calendar month.
9. Discount:
9.1. No making charges upto 18% applicable upto deposited value. Making Discount shall be calculated on the basis of the number of months for which a Participant pays the monthly instalment. The Participant can opt to exit the Plan anytime during the tenure of the Plan, subject to the terms mentioned herein.
9.2. No discount shall be offered to a Participant who opts to exit the Plan before completing 6 [six] months. Discount shall be offered on an incremental basis after 6 [six] months as per the table below:
|
Number of months |
Instalment |
#No Making Charges* Upto |
|
1 month |
10000 |
Nil |
|
2 month |
10000 |
Nil |
|
3 month |
10000 |
Nil |
|
4 month |
10000 |
Nil |
|
5 month |
10000 |
Nil |
|
6 month |
10000 |
8% |
|
7 month |
10000 |
8% |
|
8 month |
10000 |
12% |
|
9 month |
10000 |
15% |
|
10 month |
10000 |
18% |
#Above table is only for illustration
*Conditions Apply
9.3. A participant shall be eligible for the specified making discount percentage upto the deposited value only on timely payment of the monthly instalment for the minimum number of months required for the corresponding making discount.
9.4. Anytime during the Plan Period if the Participant delays or fails to make payment of monthly instalment within the prescribe time, then the Participant shall be permitted to regularise by paying defaulted payment, however the same shall be subject to reduction in final discount as provided hereinafter:
|
Default |
Reduction in Discount* |
|
1st Time |
NIL |
|
2nd Time |
3% |
|
3 rd Time |
6 % |
|
4 th Time |
10 % |
|
5 th Time |
Making Discount Benefit Lapsed |
For Instance: If the participant fails to pay 1 [one] instalment for the first time, then the Participant shall be permitted to regularise the same by paying 2 [two] months instalment in the subsequent calendar month. If the Participant fails to pay any another time i.e., 2nd time (whether consecutively or otherwise) during the Plan Period, then the Participant shall be permitted to regularise the same by paying skipped months’ instalment in the subsequent month however, the final making discount percentage as eligible will be reduced by 3%, for example 18% - (Minus) 3% which will be 15%. Hence no making charges will be applicable upto 15%. Similar reduction in final making discount will be 6% & 10% applicable for 3rd & 4th defaults as given in the above table.
9.5. IT IS CLARIFIED THAT IF THE PARTICIPANT DEFAULTS IN PAYING 5 [FIVE] OR MORE INSTALMENTS, WHETHER CONSECUTIVE OR OTHERWISE IN A PLAN PERIOD, THEN THE ENTIRE MAKING DISCOUNT BENEFIT PROVIDED UNDER THE PLAN SHALL LAPSE.
10. On successful completion of the Plan and after the Maturity Date and within TWENTY FIVE days thereafter:
10.1. The Participant shall be entitled to buy, in a single transaction, only Gold Jewellery from the showroom(s) of TBZ. It is clarified that gold coins, diamond jewellery, gold bars, silver coins, silver bars, silver jewellery, silver articles, gift cards, etc. cannot be purchased under the Plan.
10.2. It is clarified that the purchase will have to be by way of a single transaction on the same day. Such purchase shall be equal to the Maturity Amount provided that if the total purchase value (excluding taxes) is higher than the Maturity Amount, the Participant shall pay the differential amount. Under no circumstances will a cash refund be given to the Participant for any unused Maturity Amount. TBZ does not make any representation or guarantee that Gold Jewellery of the value exactly equivalent to the Maturity Amount will be available in the showroom of TBZ.
10.3. Such purchase must be made within 25 [TWENTY FIVE] days from the Maturity Date. The Participant shall be required to remain present personally at the time of making the purchase. After the said period of 25 [twenty five] days, the making Discount voucher will be issued which will be valid upto 6 months however not more than the 365th day of the enrolment date. Participant has to purchase minimum upto the deposited value to avail the plan benefit. Further, it will be deemed that the Participant has agreed to accept purchase of simple 24Kt TBZ gold coin (where purity would be at 99.9% or 99.5%) at the selling price of TBZ for the 24Kt TBZ gold prevailing on the next business working day immediately after expiry of the period of 25 [twenty five] days from the maturity date plus making charges which shall be at the applicable rate and taxes (“TBZ’s Applicable Price”). Accordingly, the aggregate amounts of the Monthly Instalments paid by the Participant will be applied /appropriated by TBZ for selling 24Kt TBZ gold coin/s at TBZ’s Applicable price and the transaction under this Plan will be completed. The Participant shall not be entitled to the Discount. Any statutory deduction will be applied by TBZ. All other applicable provisions relating to the sale of Gold Jewellery under this Plan shall also apply to sale of 24Kt TBZ gold coin/s.
10.4. Such sold 24Kt TBZ gold coin/s will be held by TBZ for benefit of such Participant without any risk to TBZ and the Participant shall be charged a handling and storage fee of 1% per month of the invoice value plus goods and service tax and any other taxes as applicable on a pro-rata basis for the duration of the time that the coin/s remain/s uncollected.
10.5. The purchase price of the Gold Jewellery under the Plan shall be TBZ’s price of the jewellery (which would include price of the gold, precious/semi-precious stones, which may be contained in such Gold Jewellery, as also making charges, variable charges, other charges, and all applicable taxes) as prevailing at the time and on the day the Participant selects and purchases Gold Jewellery.
10.6. Discounts available under clause 9 of this Plan shall be limited to aggregate of the Monthly Instalments paid by the Participant. Any campaigns / promotion offers benefits/ discounts offered by TBZ will be applicable on the additional purchase price of the Gold Jewellery over and above the aggregate of Monthly Amounts and cannot be clubbed with the discount offered under this Plan.
10.7. TBZ shall not be liable under any circumstances to pay any interest under the Plan on the instalments, paid by the Participant. Under no circumstances will a cash refund be given to the Participant in respect of the Maturity Amount.
11. Under no circumstances, will a refund in cash or otherwise will be given by TBZ to the Participant. Further, in the event the participant fails to successfully make payment of all 10 Monthly Instalments (including voluntary exit from the Plan as set out herein and has not purchased the Gold Jewellery within 56 [fifty six] days from the Last Due Date of the Plan Period then the Participant agrees, by default to have opted on the 57th day from the Last Due Date of the Plan Period to accept purchase of simple 24Kt gold coin (with a purity of 99.9% or 99.5%) from TBZ subject to terms and conditions outlined herein above at Clauses 10.3. and 10.4. the Participant hereby authorises TBZ to undertake and complete the purchase of the simple 24Kt gold coin on any day after 56th day from the Last Due Date of the Plan Period but no later than 365th day of the enrolment date of the Plan.
12. In the event the Participant opts to exit the Plan:
12.1. Within 7 [seven] days of the enrolment and payment of the first Monthly Instalment, the entire first Monthly Instalment will be refunded to the Participant only by NEFT/ RTGS / Cheque, irrespective of the Participant’s mode of payment. The Participant is required to provide a written intimation of such desire to exit from the Plan, to be received by TBZ within 7 [seven] days of the date of enrolment and payment of the first Monthly Instalment. Subsequent to the receipt of such intimation, TBZ will require atleast 7 [seven] working days to process such refund. In certain cases, TBZ may require more time to process such refund and the Participant shall not hold TBZ liable for the same; OR
12.2. After the 7th day of the enrolment as mentioned herein above but before payment of the third Monthly Instalment, then the Participant shall be liable for an amount in the sum of Rs. 500/- [Rupees Five Hundred only] towards administrative fees along with any tax thereon. The Participant shall not be entitled to the Discount. The Participant will be able to purchase Gold Jewellery or any Merchandise from TBZ only upto the extent of the Monthly Instalments less Rs. 500/- [Rupees Five Hundred Only] and any tax thereon deducted towards administrative fees or jewellery of price higher than the amount of Monthly Instalments paid by the Participant subject to payment of the differential amount. Under no circumstances, will a refund in cash or otherwise will be given by TBZ to the Participant; OR
12.3. After payment of the 3rd Monthly Instalment but before the payment of minimum six Monthly Instalments, the Participant shall not be entitled to the Discount and the Participant will be able to purchase Gold Jewellery or any other Merchandise only upto the extent of the Monthly Instalments paid by the Participant or jewellery of price higher than the amount of Monthly Instalments paid by the Participant subject to payment of the differential amount. Under no circumstances, will a refund in cash or otherwise will be given by TBZ to the Participant.
12.4. In the event Merchandise purchased is a gold coin or any other coin the terms applicable under Clause 10.3. to 10.4. shall be applicable.
13. In the event the Participant is desirous of exiting the Plan, either within seven days of joining of the Plan or after seven days of joining and at any point of time before completion of the Plan, the same must be informed in writing to TBZ by filling up the requisite Plan Exit Form.
14. TBZ will not be responsible or liable to send reminders in respect of the terms and conditions of the Plan including but not limited to the payment of Monthly Instalments or to buy Gold Jewellery at the expiry of Maturity Date.
15. TBZ reserves the right to alter, amend, add or delete any part of the Plan without prior notice to the Participant.
16. TBZ reserves the right to suspend the Plan at any time, without prior notice to the Participants. In such event, the Participant shall be eligible to purchase jewellery for the total amount of Monthly Instalments paid by the Participant. In addition, thereto the Participant will be entitled to a proportionate Discount on a pro rata basis to the total amount of Monthly Instalment paid by the participant.
17. IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE, OR EXEMPLARY DAMAGES (INCLUDING LOSS OF PROFITS, REVENUE, OR VALUE), ARISING FROM OR RELATED TO THIS PLAN, REGARDLESS OF FORESEEABILITY, ADVICE OF POSSIBLE DAMAGES, LEGAL THEORY, OR FAILURE OF ANY REMEDY TO MEET ITS ESSENTIAL PURPOSE. THE LIABILITY OF TBZ UNDER THE PLAN, IS LIMITED TO THE TOTAL AMOUNT OF MONTHLY INSTALMENTS PAID BY THE PARTICIPANT ON THE DATE OF THE CLAIM.
18. The Participant shall, under no circumstances, be entitled to ask for refund in cash or otherwise of the amounts of Monthly Instalments paid or any part thereof except exit terms provided herein.
19. The Participant cannot assign and / or transfer his/her rights and obligations under the Plan to any other person/s.
20. Every enrolment of the Participant under the Plan will have to be operated separately and various enrolments by the same / different Participant cannot be merged or combined at the time of settlement of the Plan.
21. By enrolling to the Plan, the Participant expressly consents to receiving calls, text messages and electronic mails, including auto-dialed and pre-recorded calls, messages and mails, from TBZ, its affiliates, marketing partners, agents and others who may call or send messages or electronic mails to the Participant on behalf of TBZ, in connection with the Plan, at the contact details provided by the Participant to TBZ. If you wish to withdraw your consent from receiving any communication from TBZ in connection with the Plan, please refer to the privacy notice available on the TBZ website (https://www.tbztheoriginal.com/).
22. At the time of enrolment, the Participant to make a nomination in favour of one person (who is a resident of India and is competent to contract) by providing the necessary and valid documentation as will be specified by TBZ. In the event of death of the Participant, the Plan shall stand terminated automatically. The nominee can opt to continue with the Plan for the remaining Plan Period or claim the Maturity Amount in any bank account only on submission of adequate identity proof, succession certificate, indemnity undertaking to indemnify TBZ from claims and any other document required by TBZ.
23. In the absence of valid nomination, the legal representative or heirs of the deceased Participant will be recognized by TBZ, only upon production of necessary documents viz. the Death Certificate of the deceased, survivorship / legal heir certificate, NOC from other surviving legal heir(s), Indemnity undertaking to indemnify TBZ from claims and any other documents required by TBZ. The same will forwarded to TBZ’s Solicitors for approval. TBZ will require atleast 2 [two] weeks to complete the process set out herein. The entitlement of the legal representative or heirs shall be the same as that of the Nominee as detailed above.
24. Any conditions which are explicitly not covered herein above would be at the discretion of TBZ. The decision of TBZ in this regard shall be final.
25. Any disputes arising out of or in connection with the Plan and the terms and conditions contained herein, if any, will be subject to the jurisdiction of the Courts in Mumbai only, to the exclusion of the jurisdiction of any other Court.
26. Without notice or liability TBZ reserves the right to modify / amend the terms and conditions of the Plan including discontinue the Plan, if so required, due to any change in the law or any change in the interpretation of the law or if required by any regulatory authority/ies.
27. Participant is required to provide: (i) a copy of his/her photo identification proof like Passport / Driving License / PAN card / Voter ID / UID Card; (ii) mobile phone number; and (iii) present address proof like electricity bill or landline telephone bill or bank passbook of the period not preceding by more than 6 months or UID Card, as required by TBZ, at the time of enrolment in the Plan for authentication. The Participant states that all documents as provided by the Participant are true and correct and in the event of any misrepresentation, TBZ shall have the right to treat the same as a default on part of the Participant and the terms relating to Termination above shall apply. Without valid photo identity proof and address proof, enrolment will not be allowed. TBZ will be entitled to retain a copy of such identity proof and residential proof duly self-attested by the Participant. In case of any change in the contact / address details, the Participant is required to intimate the same to the Showroom within 7 [seven] days from such change. To know more about your rights with respect to the personal data received by TBZ as part of registration purposes and TBZ’s processing activities, please refer to the privacy notice available on the TBZ website (https://www.tbztheoriginal.com/).
28. For purchase of Gold Jewellery as per the Plan, whether after Maturity Date or earlier, the Participant will have to personally be present at the showroom of TBZ along with a valid photo identity proof, any other document that may be indicated by TBZ or required under law. TBZ will keep a self-attested copy of such identity proof or such other details as PAN Card for purchases of Rs. 2,00,000 and above.
29. THE PARTICIPANT UNDERSTANDS AND ACCEPTS THAT PURCHASE OF JEWELLERY UNDER THE PLAN HAS TO BE COMPLETED BEFORE CLOSE OF BUSINESS ON THE 25TH DAY FROM THE MATURITY DAY OR 56TH DAY FROM THE LAST DUE DATE OF THE PLAN PERIOD HOWEVER NO LATER THAN 365th DAY FROM THE DATE OF ENROLMENT IN THE PLAN, AS APPLICABLE FAILING WHICH THE PARTICIPANT SHALL ACCEPT SALE OF 24Kt TBZ GOLD COIN/S BY TBZ TO THE PARTICIPANT AS MENTIONED ABOVE. THE SALE UNDER THIS PLAN CANNOT AND WILL NOT BE DEFERRED BEYOND THE SAID DAY. IN THE EVENT THE PARTICIPANT WISHES TO COLLECT SUCH GOLD COIN, A FOUR DAYS ADVANCE NOTICE IN WRITING MUST BE PROVIDED. THIS GOLD COIN WILL HAVE TO BE COLLECTED FROM TBZ SHOWROOM.
30. Terms & Conditions pertaining to Digital Online KP only:
I have read and have been explained by the staff of TBZ. In the event I do not undertand English, I have informed the same to the staff of TBZ, who have thereafter explained the same to me in the language of my choice. I have clearly understood the above terms and conditions and agree to abide by the same and I expressly provide my consent to TBZ for processing personal data by me for the purposes mentioned in these terms and conditions.
Date: ________________________ Signature :___________________
Name :________________________ Contact No.:_______________________
Address: _______________________ Email:___________________________