Gold Release Terms & Conditions

HomeGold Release Terms & Conditions
  1. DRU Gold will only accept Jewellery/bullion items which belong exclusively to the seller.
  2. Once the gold/ornaments is/are sold to DRU Gold, the company gets absolute rights to sell, transfer, assign and securitize all the rights and titles on the gold/ornaments to other individuals/Entities/Company or Firm; or to borrow/take loan by creating charge on it.
  3. Instances, during which, the customer after releasing the gold/ornaments to DRU Gold, disagrees to sell the gold/ornaments for any reason maybe, in such a case the customer is hereby liable to reimburse the amount settled by DRU Gold, against their ornaments, plus an additional 5% of the market value of the gold/ornaments (in that particular transaction), as operational expenses, to DRU Gold the very same day, before the closing of DRU Gold’s business hours. Failing which, the transaction shall be treated as a sale to DRU Gold and the gold/ornaments shall not be returned.
  4. The value of gold/ornaments will be determined, only after physically examining the purity and weight of the gold/ornaments by an authorised valuator at out store.
  5. Sale proceeds received from DRU Gold shall not be used for any Anti-National Criminal or Anti-social activities by the customer. DRU Gold shall not be held liable for the way the money was spent.
  6. By signing this terms and conditions, customer agrees to make good the losses (if any) to DRU Gold, in case post release of the ornaments based on the customer’s request, if the total marketable value of the ornaments is/are lesser than the amount settled by DRU Gold due to what so ever may be the reasons, then the customer undertakes to reimburse the amount settled by DRU Gold while releasing the ornaments from the financer along with 5% marging on the total market value of the ornaments ascertained by DRU Gold.
  7. In cases, where the sold articles are found to be known as theft/stolen or spurious article(s)/ornaments, then the customer or his/her legal representative shall be held solely responsible for all the consequences including criminal/legal liability, losses, damage and repayment of the entire amount with interest and (or) compensations to DRU Gold including legal costs.
  8. After melting the ornaments/ gold and while checking the purity and weight, if the purity or weight differs from what was estimates, the customer will incur the loses as well as the transaction charges.
  9. DRU Gold reserves the right to accept or reject the application and/or offer without any explanation.
  10. Ornaments/Gold/precious metal once sold to DRU Gold by the customer will not be returned back under any circumstances.
  11. DRU Gold uses internationally renowned XRF technology carat checking machine to ascertain the purity of the ornaments/gold offered by the customers for sale. Purity reading may differs based on checking/ examination methodology of the gold/ornaments.
  12. If required, DRU Gold might perform other examination procedures to confirm the purity. These procedures include acid test, salt test and or any other prevailing test(s).
  13. After signing the declaration the customer gives DRU Gold the rights to cut, dismantle and melt the ornament (if necessary) before testing, and finalising purity, weight and value of the ornament. If required, DRU Gold might perform other examination procedures like acid test, salt test and or any other prevailing test(s) to confirm the purity.
  14. The value will be based on the market price of 24 carat gold which is subject to fluctuations during the day. For lower purity, the price shall be calculated based on the exact purity shown by the internationally renowned XRF carat checking machine.
  15. Weight of any material other than gold, shall be deducted before arriving at the actual weight.
  16. If need be DRU Gold reserves the right to conduct a physical/telephonic verification in order to establish the credibility and ownership of the ornament/gold.
  17. DRU Gold shall be taking biometric details of the customer for record which shall be kept confidential.
  18. Transactions shall be denominated in Indian Rupees (INR) only.
  19. Customer 18-21 years of age, need to submit:
    • His/Her ID and address proof
    • Written consent from their legal guardian (Father/Mother/Husband/Wife)
    • Guardians ID and address proof
    • One photograph of each person.
    • Photocopies of all the above duly signed by the applicant and legal guardian.
  20. In case, the customer changes his/her mind from selling, after the piece is dismantled/melted, then the customer will incur an expense of 5% of valuation given by DRU Gold. This payment can either be done by cash/card/check or gold.
  21. All the disputes arising out of this transaction shall be settled by binding arbitration within the jurisdiction of Hyderabad.