SONE PE SUHAGA
1. Definitions :
a. Enrolment Date means the date of payment of the first Instalment. In case the first Instalment is paid by cheque, then the Enrolment Date shall be the date on which the cheque amount is credited to LCJ’s account.
b. Validity Period means the period ending 365 days from the Enrolment Date.
C. Reference Date means: For programs that are pre-closed before the 6th monthly payment has been completed, the day immediately after the receipt of the pre-closure notice from the Customer. For programs, which are pre-closed after the 6th monthly payment has been completed, the day that falls 1 month after the date of receipt of the pre-closure notice from the Customer. For completed programs, the first day of the 11th month of the Program.
d. Appropriation Period means the period starting from the Reference Date and extending to the end of the Validity Period.
e. Purchase Date means the date when the Customer appropriates the accumulated advance and associated discount against jewellery selected from an LCJ store, subject to the terms and conditions herein or the default option date.
f. Pre-closure means when the Customer expressly opts out of the Program before payment of all 11 (eleven) Instalments by notifying the Company.
g. Advance means an individual monthly Instalment.
h. Accumulated Advances means the sum of Instalments received by LCJ up to the Reference Date.
i. Prevailing Gold Rate means the Company’s gold rate prevailing at the specific time of the transaction. The prevailing Company’s gold rate is an intra-day rate that depends on multiple factors, including spot rate in the open.
j. Discount: Applicable discount on making charges
2. Instalments :
a. Customer has to pay 11 (eleven) fixed monthly Instalments of a minimum of 2,000/- (Rupees Two Thousand) or above in multiples of Rs. 1,000/- (Rupees One Thousand).
b. Once the first Instalment is paid, the Instalment amount cannot be changed. A new separate program can be added by the Customer for any additional amount.
C. Customers will be eligible to avail of the accumulated advances and any associated discount only during the Appropriation Period, subject to the
Terms and Conditions herein, by purchase of jewellery from LCJ stores.
d. The due date of each Instalment must be the same date of the next calendar month as the date of enrolment. E.g. Enrolment Date 1-Jan, next Due Date will be 1-Feb.
e. In case the month does not have the last date on which the Instalment started, then it shall be the last date of the respective month. For example: if 1st Instalment started on 31st Jan, then Due Date for next Instalment will be 28th / 29th Feb, 31st March, 30th April, respectively and so on for the remaining period of the program.
f. In case of delay in payment of the monthly Instalments, the scheme period shall be extended equivalent to the extent of delay in payment of instalment. LCJ shall not be liable under any circumstances to pay any benefit other than discounts on purchase of jewellery as mentioned in the Clause No. 5 (a).
3. Payments :
a. The payment for monthly Instalments can be done through Cash (not exceeding a sum of 1,99,999/- cumulatively for the period of the program), Credit/Debit cards, Cheque, Bank Transfer and UPI. Payment/exchange through General Exchange Program are not permitted. International Card/ Transfers for Online Payments will not be accepted. Payments can be made at stores or through the program website as may be applicable.
b. LCJ shall not be responsible for any online payment failure money being debited from the Customer’s account. Customers are requested to check with banks or service providers for such payment failures. It is the responsibility of the account holder enter details correctly.
C. LCJ will not be responsible or liable to send reminders payments.
d. The customer can ask for receipt from LCJ Stores only after the clearance of payment. In case of Standing Instruction enabled accounts, the Program cannot be closed prior to the Appropriation Period, unless the benefit holder has cancelled the standing Instruction by submitting the required form to LCJ.
e. At the time of joining the program, Customer will be issued a Booking Transaction Record (“BTR”) which must be produced and transactions recorded at the time of making of payments.
f. Loss of BTR must be intimated in writing to the LCJ and upon submission of the affidavit, indemnity and other documents as deemed necessary by the LCJ, a duplicate TRB may be isued to you.
4. Appropriation/Discount :
a. The Customer is mandatorily required to appropriate the accumulated advance and associated discount against jewellery from LCJ store on the completion of 365 days from the Enrolment Date
b. This discount will be applicable as per the table given below as per the amount of Instalments paid. Any purchases over and above the accumulated amount of instalments willattract normal making charges.
5. Pre-Closure :
a. The Customer will have the option to avail of pro-rata discounts upon pre-closing the program only if a minimum of 6 [six] monthly Instalments are paid.
b. The pro-rata discount availed by the customer will also be adjusted in said transaction. Alternatively, the Customer may seek a refund of aggregated Instalments paid by the Customer till the notice of pre-closure is received by Lalchnd at its sole discretion. The Customer will also be provided with prorated discount voucher can avail Discount under the scheme as per table below of six months’ validity that the Customer can utilise to for purchase of jewellery from the Company subject to the Customer having made at least 6 (six) monthly Instalments and other applicable terms and conditions herein. Said discount shall only be useable on a purchase of jewellery of value equal to or greater than the accumulated advances under this program plus the discount itself.
| Monthly Payouts | Discount(% ofMaking Charges) | Date of Purchase on or after |
|---|---|---|
| 11 Months | 100 | 12th Month |
| 10 Months | 90 | 11th Month |
| 9 Months | 80 | 10th Month |
| 8 Months | 70 | 9th Month |
| 7 Months | 60 | 8th Month |
| 6 Months | 50 | 7th Month |
c. In the event the Customer has pre-closed without paying a minimum of six Instalments, the Customer will not be eligible for any discount. The customer can utilise the accumulated Instalments to purchase any jewellery or receive a refund of the accumulated advances.
6. Enrolment/KYC :
a. Only individuals above the age of 18 can enrol into the Program, subject to KYC requirements as applicable by law. Other entities like companies, partnership firms or proprietorship concerns or trusts or Hindu Undivided Family (HUF) or NRI Customers cannot enrol.
