EXCHANGE & BUYBACK POLICY

At Sri Mangalam Jewellery, we ensure complete transparency in every transaction. Whether you are upgrading your jewellery or selling precious metals, our Exchange & Buyback Policy is structured to provide fair value according to prevailing market rates and purity standards.

1. Mandatory Documentation Requirements

• Original Invoice & Certificates: The original sales bill/invoice and any accompanying authenticity certificates (e.g., BIS Hallmark receipts or gemstone certificates) must be presented during exchange or buyback.
• Customer Identification: For high-value transactions or cash/bank credit buybacks, government-issued photo identification (PAN Card, Aadhaar Card, or Passport) is mandatory in compliance with anti-money laundering regulations.

2. Gold Jewellery Exchange & Buyback Standards

• Exchange of Sri Mangalam BIS 916 Gold: Items purchased from our showroom bearing our official hallmark logo will be credited at 100% of the net fine gold weight at the prevailing daily board buying rate, with zero melting charge deductions (making charges and statutory GST on the original bill are non-refundable).
• Exchange of Non-Store / Other Jeweller's Gold: Gold items purchased from other jewellers are subject to mandatory purity testing using our advanced non-destructive XRF gold purity testing machines or traditional melting tests. Valuation is based on actual assayed purity.
• Deductions: Net weight calculation excludes all non-gold components (enamel, wax/lac fill, threads, synthetic stones, and pearls). Standard melting and refining deductions (1% to 3%) apply to non-hallmarked or melted bullion.

3. Silver Jewellery & Article Exchange

• 925 Silver Articles/Jewellery: Credited based on actual silver purity verified at our showroom against prevailing daily silver board rates.
• Melting loss, enamel weight, and stone weight will be deducted to ascertain exact fine silver weight before processing exchange value.

4. Gemstone, Diamond & Stone Weight Deductions

• Precious Stones & Synthetic Beads: The weight of all embedded stones, cubic zirconias, pearls, and synthetic beads will be completely deducted from the gross weight during gold/silver valuation.
• Precious Gemstones: Natural diamonds and precious gemstones (Rubies, Emeralds, Sapphires) will be evaluated separately by our in-house gemologists subject to stone condition and original certification.

5. Payment Terms for Buybacks

• Buyback payments are processed strictly through traceable banking channels (NEFT/RTGS/UPI) to the primary account matching the customer's verified ID.
• No Cash Buybacks: As per Indian Income Tax regulations, cash payments for buyback transactions above statutory limits are strictly prohibited.

6. Showroom Contact & Assistance