Reeds Jewelers of Niagara Falls provides this Website ("www.reedsgold.com") in order to simplify the process and assist its customers in the surrender of unwanted Gold and other Precious Metals ("items" or "the items") in exchange for payment at a price set on the date of the receipt of the customer's items. The Terms & Conditions set forth herein refer to "you", "your", the "seller" and the "customer" as the party surrendering the items in exchange for payment from "us", we", the "buyer" which is Reeds Jewelers and its Agents, Assigns or Successors.
In order to utilize our Exchange Center Web Service, you must agree to these Terms & Conditions by clicking the Accept Button at the time we value the items we receive from you and you accept our Payout Price.
We encourage you to print a copy of these Terms & Conditions and retain them for your records and for future reference.
- Age Limitation
You are at least 21 years of age in order to participate and use the www.reedsgold.com service.
- Description of Process
- The customer requests a GEM Packet through this Website or via phone call to our Customer Care Department
- A GEM Packet is mailed to the requestor at the mailing address supplied to us
- The customer receives the GEM Packet, assembles all unwanted Gold and/or other Precious Metals, puts the items in the return mailer packet along with a detailed inventory list of the items, and mails the GEM Packet back to us
- On the day we receive the GEM Packet we open the GEM Packet, verify the contents, weight/assess/value all items received in the GEM Packet, and send an email back to the customer with a payout valuation for the customer's review and acceptance. We reserve the right, in our sole discretion, to reject any GEM Packet that appears to have been tampered with prior to delivery. If we determine, in our sole discretion, that there are significant discrepancies between the merchandise as described on your inventory list and the items we receive, or if no inventory list was included in the package, we may suspend or terminate the Transaction with notice to you. For purposes of these Terms & Conditions, any GEM Packet that we reject will not be deemed to have been "received" by us and will be returned to the customer. Reeds, in its sole discretion, shall choose the return carrier, insurance provider and receipt verification method for each such transaction. We shall have no liability to the customer for any damages or losses sustained for any attempted delivery or the return of any such mailing and the customer agrees to hold Reeds harmless.
- The customer has 48 hours to respond to our payout valuation before we mail a company check for the value of the items priced on the day we receive them (note the payout valuation can fluctuate based on Gold Market Prices at the time the customer formally accepts our payout valuation)
- If we receive no response to our payout valuation email, we will mail a check to the customer at the mailing address on file. For purposes of these Terms & Conditions, failing to respond to our payout valuation within 48 hours will be deemed an acceptance.
- We will wait 5 business days from the time we mail the payout valuation check to the customer before we refine the customer's items
- Seller's Right of Refusal
the Seller has the right to refuse our payout valuation by logging on to the Exchange Center and declining the payout offer or by calling our Customer Care Department during normal business hours.
- You agree that you provided to us the email address, mailing address, and telephone numbers that are in our records, and it is your responsibility to provide us with any current or updated contact information. You further agree that: (a) any email message that we send to you is deemed to have been effectively received by you and constitutes due notice to you by email; and (b) any phone message we leave with you, anyone answering your phone, or on your answering machine or service is effectively received by you and constitutes due notice to you by telephone.
- All references to days shall refer to business days. Sundays and Federal legal holidays are not included as business days, and if the expiration of any time frame set forth above falls on a Sunday or Federal legal holiday, performance will be due on the next business day. Items received after 3:00p ET, or on any Sunday or Federal legal holiday will be considered to have been received on the next business day. All business days will begin at 10:00 a.m. and end at 7:00 p.m. in New York on the appropriate day.
Limitation on Liability
In all cases you agree that the legal limit of our liability to you for any claims or actions for Lost, damaged or destroyed merchandise shall not exceed the lesser of our payout to you or $100.00 per GEM Packet transaction. You agree that we will not be liable for (a) incidental, special, indirect, consequential, or punitive damages, or loss of profit or opportunity; (b) claims, demands, or actions for any subrogation claim brought by your insurance carrier, and you expressly and specifically waive any subrogation claim on your behalf as well as on behalf of your insurance carrier. We only accept liability not to exceed the lesser of $100.00 or the true value of your items at the time we receive them at our Exchange Center.
Description of Valuation Method
Description of Processing Times
- Terms of Payment
All payments will be made in the form of company check which will be mailed to you at the time of acceptance of our payout valuation or after 48 hours from the time we email you your payout valuation, whichever comes first.
Claim Handling and Dispute Resolution
All claims and disputes must be filed within 5 business days from the time you accept our payout valuation either by email or by phone call to our Customer Care Department phone number located on the Contact Us page on this Website. All claims and disputes must be followed-up in writing.
- Payout Valuation Calculations
We will compute your payout valuation within 24 hours from time time we receive your items in the GEM Packet
- Time Before Refining
We will refine your items no earlier than 5 business days from the time you accept our payout valuation by clicking on the Accept Button on our "Payout Valuation Form". If you do not respond to our payout valuation email within 48 hours, the payout valuation will be deemed "accepted", and will refine your items no earlier than 5 business days from the date our payment to you is mailed.
We guarantee that your items are insured for up to $100.00 in value when using our GEM Packet mailer packets. Should you wish to insure your items for more that $100.00 you are required to purchase additional insurance prior to mailing your items to us.
Shipping and Return Policies
We will return any and all items received in the GEM Packet to you at the address on file within 3 business days following your election to decline our payout valuation offer. Reeds will insure the items at full value and will not charge you for return shipping.
The customer represents and warrants to Reeds that he/she/it owns the merchandise free and clear of all liens, claims or encumbrances, and that the customer has the capacity to sell the merchandise.
For purposes of any and all transactions executed through www.reedsgold.com, you hereby agree to the use of electronic signatures, receipt of notices by email, use of electronic contracts, and to accept these Terms & Conditions by electronic means, you agree that clicking the Submit Button and the bottom of the "Request Your Free Gold Mailer Exchange Form" and at the bottom of the "Payout Valuation Form" constitutes your electronic signature.
Governing Law and Jurisdiction.
Reeds is a corporation organized under the laws of the State of New York and the business plan is that all internet purchases of gold, gems and other precious metals are made through New York locations. This Agreement, including all Disclaimers, will be governed by and construed in accordance with the internal laws of the State of New York In the event of a dispute arising hereunder, the matter shall be resolved by arbitration in Buffalo, New York, under the procedures of and in accordance with, the rules of the American Arbitration Association.
Effective: July 14th, 2008