Terms & conditions

GENERAL CONDITIONS WWW.BAUNATDIAMONDS.COM

Preliminary note

In case of purchase of diamond jewellery, we refer to the terms and conditions as mentioned on the site www.baunat.com. For more details, click here. In case of purchase of (loose) diamonds for investment purposes, the terms of www.baunat.com are not applicable because it does not regard diamond jewellery neither an online purchase. In this case it regards a sale-purchase transaction (with Baunat Nv as the selling party), with the general conditions of www.baunatdiamonds.com (as mentioned below) being applicable.

Use of the website
These General Conditions apply to the website www.baunatdiamonds.com. By using this website you commit yourself (hereafter the client) to accept and to respect these general conditions.
Purchase at BAUNAT
Moreover these general conditions apply to all contracts concluded with BAUNAT N.V. in case of purchase of (loose) diamonds for investment purposes. They contain all mutual rights and obligations between the client and BAUNAT N.V.
The client declares that previously to the conclusion of any contract (regarding loose diamonds) with BAUNAT N.V., he/she took notice of the general conditions (as published on the website www.baunatdiamonds.com) of BAUNAT N.V. and declares expressly to accept them. This declaration of acknowledgement and acceptance is automatically done from the moment of agreement with the offer and the subsequent payment of the agreed amount and will be formalized by an electronic confirmation or by signing on the bottom of the invoice.
This website has been created and is managed by BAUNAT N.V., Rijfstraat 2-4, bus 171, 2018 Antwerpen, België, KBO 0899.153.574, RPR Antwerpen.
Article 1. DEFINITIONS, SCOPE OF APPLICATION AND OBJECT

1.1. Definitions

BAUNAT N.V.: BAUNAT N.V., with company seat at 2018 ANTWERPEN, Rijfstraat 2-4, Bus 171, KBO 0899.153.574,
RPR Antwerpen, acting under the commercial brands BAUNAT & www.baunat.be & www.baunat.com &
www.baunatdiamonds.com

Purchaser: any natural person or person created by law who enters into a contractual relation of any type with BAUNAT
N.V.;

Consumer buyer: any natural person or person created by law who buys products or services present on the market;

Client: any person/party who accedes to the BAUNAT N.V. website and who has or not a contractual relation with
BAUNAT N.V.;

Person: any natural person, a person or party created by law, or a factual association;

Products: the object of one or more contracts;

Prices: the mere indication of a product price never contains a final offer. It can never be a source of rights for the client.
1.2. Scope of application

Derogations
Unless expressly agreed otherwise in a written form, no derogations to the present general conditions will be accepted.
All clauses which were no subject to derogation will remain fully in force.

General & Billing Conditions of the client
The client's own general and/or billing conditions will never apply to the contracts concluded with BAUNAT N.V.

Worldwide sales
BAUNAT N.V.'s products are sold worldwide.
1.3. Stocks, offers, availability, mistakes, clerical errors & comprehensive information provision
The product price mentioned by BAUNAT N.V. does not imply a definite price offer. Clients' expression of his intention
to purchase a product is not enough to conclude a contract with BAUNAT N.V. BAUNAT N.V. will never be able to
guarantee that she can supply the product that the client is willing to buy. The client can always contact (by phone or
mail) BAUNAT N.V. to verify the availability of a product.

BAUNAT N.V. will do its utmost best to manufacture and/or deliver the ordered products. In case of unavailability of the
product (also taking into account the agreed delivery terms), and even if the (potential) client has transferred money to
BAUNAT by cash, wire transfer or via credit card (hereby unconditionally endorsing its intention to purchase), this does
not bind BAUNAT to deliver and BAUNAT can still decide to repay the same sum. Of course BAUNAT commits itself to
communicate as soon as possible the reason of repayment.

When the price of a product, mentioned in the offer or a quotation, is different from the real price, a representative of
BAUNAT N.V. will contact the client, before expedition of the purchased product, in order to leave him the possibility to
either pay the price difference, or to renounce the purchase. BAUNAT N.V. apologizes for the troubles which could be
caused by this exceptional event.

Information, pictures, descriptions on the website of BAUNAT N.V. or the information given by email, by chat
communication - and/or by phone are as precise as possible. But BAUNAT N.V. cannot be held liable for mistakes,
clerical errors, erroneous mentions or lack of information. When the client faces unclear information he can always
contact a representative of BAUNAT N.V. Contact data of BAUNAT N.V. are mentioned in the present General
Conditions and on the website or with a tailor-made price quotation/offer.

Finally, the client expressly & unconditionally declares – by means of his purchase – having been comprehensively
informed by the BAUNAT experts about all possible aspects regarding diamonds and their intrinsic investment value,
including the fact that diamonds - like any other investment alternative – are not immune to price decreases. These price
decreases can be triggered by severe economic crises (click here for more information about the crisis resistance of
diamonds), or by periods of temporary oversupply within (a) specific diamond segment(s).


1.4. Conclusion of the contract

Previous to the conclusion(s) of any contract between a client and BAUNAT N.V., the client will be asked to define his
specific product requirements. Based on these requirements, BAUNAT NV will make a comprehensible price quotation,
with mentioning of the price, product characteristics and additional transactional terms (delivery terms, used certificate,
etcetera). This offer will also include a validity period.

Each offer of BAUNAT N.V. is conditional. Each offer has a validity time, starting from the moment that BAUNAT N.V.
forwards the offer to the client. Provided that no contract has been concluded and/or that BAUNAT N.V. did not receive
any payment, nor any confirmation of payment (by bank transfer), the offer will be lapsed, notwithstanding the right of
BAUNAT N.V. to extend the running time of the offer. This means that the offer and the guaranteed price are only valid
during the running time or during the extended running-time of the offer. Extension of time can only be granted expressly
and in written form by BAUNAT N.V.

If the client unconditionally agrees with the offer (confirmed by mail), his intention to purchase will only transform into a
valid contract (= contract conclusion) after reception of the payment on the account of BAUNAT. By this payment the
client confirms his unconditional and irrevocable commitment to purchase the goods, of course under the condition that
they are delivered by BAUNAT N.v. according to the agreed product requirements.

The acceptance of the general conditions of BAUNAT N.V. is automatically done from the moment of agreement with the
offer and the subsequent payment of the agreed amount , and will be formalized by the effective signature of the invoice
by the client, preceded by the words “read and accepted”. Unless otherwise expressly agreed by written form, the product
will be paid at once and supplied by BAUNAT N.V.

1.5. What materials & diamonds are used by BAUNAT DIAMONDS?

BAUNAT only works with 18 carat gold (75% gold – alloy 'Au750') and platinum 950 (95% platinum – alloy 'Pt950').


BAUNAT only offers 100% natural diamonds. This means no treated, artificial or clarity intensified diamonds.

BAUNAT only uses high quality diamonds in its jewels. For each piece of jewellery that holds a diamond equal to or over 0.3 carats, you receive a certificate of a recognised diamond laboratory, with a description of your stone's 4 C's. For more info, click here.

Concerning goods with a personalized character, and specifically diamonds with a quality deviating from our standard offering, BAUNAT offers its client the possibility to communicate clearly and proactively their complete list of specifications. BAUNAT composes its offer based on all information provided by the client. If BAUNAT is not able to deliver any of the specifications listed by the client it will be communicated clearly in the offer sent to the client. BAUNAT will compose its offer on the basis of the objective information listed on the diamonds certificate, hereafter named the diamond’s (?) characteristics. If the client does not clearly express a precise preference for a given diamond characteristic, the offer will be composed without taking that specific diamond characteristic into account.

BAUNAT shows and sells only diamonds that are approved by the client and prepaid (by bank wire only, no cash). As soon as BAUNAT has received a proof of the customer’s bank wire transaction, is this considered as an agreement to purchase the diamond (jewel), making this purchase irreversible.

1.6. What is BAUNAT DIAMONDS’s policy towards conflict (blood) diamonds?

Conflict diamonds are diamonds that come from conflict areas, where local militia try to use diamonds to finance their activities. The Kimberley Process Certification System was set up to stop these diamonds to enter the world market by controlling the origin of diamonds from conflict areas.

The Kimberley Process is an international system that regulates diamond business in order to guarantee that they come from conflict-free areas. The Kimberley Certificate guarantees your diamond is not a 'conflict' diamond. It was determined that as from 2008, 99.9% of diamond transactions concerned non-conflict diamonds.

Obviously BAUNAT NV has a zero-tolerance policy towards conflict diamonds. We only buy diamonds through the most respected diamond manufacturers who act in line with the standards set up by the Kimberley Process.

Via this link, you find more information concerning conflict diamonds and the Kimberley Process Certification System.

Article 2. PRICES, METHODS OF PAYMENT AND PAYMENTS

2.1. Prices

BAUNAT NV guarantees best possible price quality. Therefore prices are not negotiable

Prices are in €, $, £ or CHF (and VAT, import, export charges, and other taxes excluded)

Overview of prices and transparency

BAUNAT N.V. guarantees that her product offer gives a correct and transparent overview of prices and of all elements of
that price.

VAT, local taxes, import and export charges and taxes, delivery costs, will be applicable in function of the place of
delivery.

The price indicated in the invoice of BAUNAT N.V. is due by the client.

Errors in the price offers

BAUNAT N.V. is entitled to correct errors (of manipulation), like -but not exclusively- evident mistakes, even after
conclusion of the contract. BAUNAT N.V. refers -when required so- to art. 1.3. ‘Errors and mistakes and erroneous
mentions'.

What do the prices include?

Prices & taxes payable to BAUNAT depend on the country of destination (= country where the purchased items have to be delivered).

Clients within the EU

Prices (payable to BAUNAT) will be increased with the appropriate VAT rate of Belgium, which is 21%, except for Germany where the local VAT of 19% is applicable and France where the local VAT of 20% is applicable.

Clients outside the EU

Prices payable to BAUNAT remain exclusive VAT. Thus no VAT is applicable, but most countries apply on delivery a border tax and/or local taxes, which our clients have pay to the delivery courier. Baunat offers you information on border and local taxes. Click here to see our indicative tax calculator for most common non EU countries.

Tax-free purchases and export outside the EU

BAUNAT offers its customers a tax-free purchases service. In this case, the customer needs to prefund Belgian VAT (21%) which will be refunded once the customer has performed exportation outside the European Union.

Refund rates for Belgian VAT (21%) at BAUNAT:

ORDER < € 1.000 VAT EXCL.

18% Refund

ORDER € 1.000 - € 2.000 VAT EXCL.

19% Refund

ORDER € 2.000 - € 4.000 VAT EXCL.

20% Refund

ORDER > € 4.000 VAT EXCL.

21% Refund

BAUNAT informs the customer about the items that the customer needs to present while passing through the customs of the European airport from where the customer will export the jewel. The customer will need to present the purchased product(s), the invoice, the passport (proving that the customer is no European resident) and the boarding pass (proving that the customer is leaving Europe).

The exportation must be performed within 3 months from the date shown on the product invoice.

The invoice must be stamped by the customs of the European airport from where the customer is performing exportation, so that the customer can claim a VAT refund from BAUNAT. The stamped invoice needs to arrive at the BAUNAT nv office no later than 2 months after the date the invoice was stamped.

BAUNAT will transfer by bankwire to the customer the corresponding VAT refund amount exclusively upon receipt of the original product invoice stamped by the customs of the European airport from where the exportation took place (the stamp will be analyzed first).

We will only accept invoices which have been stamped by the customs of the following airports:

  • Zaventem (BE)
  • Schiphol (NL)
  • Charles de Gaulle (FR)
  • Orly (FR)
  • Heathrow (UK)
  • Gatwick (UK)
  • Frankfurt (DE)
  • Madrid (ES)
  • Rome (IT)

For exports made from any other airport, BAUNAT can decline application of the tax refund procedure. In case BAUNAT decides to apply the refund procedure for an airport not on the list above, BAUNAT will apply an additional administrative fee of 10 % which will be deducted from the total authorized refund amount (please consult the VAT refund scheme). For example if a client is entitled a 21% refund (amount > 4000 VAT excl.), it would mean that he/she will be refunded 18,9% (= 90% x 21%).

The VAT refund is made upon receipt of a (stamped) suitable invoice for export provided by the internal accounting department of BAUNAT. The customer must clearly express his/her wish to export from the start of the order process, so that the appropriate VAT rate (21%) is applied to the tax free price, in order to determine a final VAT inclusive price. In case the customer does not communicate his/her export intention from the beginning, he/she will not be able to benefit from our VAT refund services. Therefore, the order will be subjected to the (non refundable) rate of local VAT, depending on the country of delivery.

BAUNAT will never be responsible for any mistakes coming from the customer’s side (ex. erroneous bank details) that would result in bank fees. The customer will eventually be charged for these bank fees.

BAUNAT will never take on its behalf any bank fees that may be charged by the customer’s bank. These bank fees will eventually be on behalf of the customer.

Tax-refund is performed according to the legal and European procedures prescribed by the Belgian Chamber of Commerce (142. The Article 8, 4°, of Royal Decree 18 states that the seller must establish the existence of the exportation by providing the customer with a copy of the invoice or a similar document bearing the stamp of the customs of exit from the European Community) according to which the presentation of the invoice of the purchased product (as exportation document) when passing through the customs is sufficient (in addition to the presentation of the three other items listed above - the product, the passport and the boarding pass). According to the Belgian and European law, no other documents are required.

BAUNAT will never be responsible for any type of exceptional event that would prevent the client from excercising the right to claim a VAT refund (ex. refusal of airport customs to stamp the BAUNAT invoice in case another document for exportation would be required according to any regional/national legislation, the closing of customs and impossibility for the customer to get the stamp, no reception or loss of the invoice sent by the client by the mail etc ...).

2.2. Methods of payment

The client who received, and unconditionally accepted an offer of BAUNAT N.V, can pay in the following ways:
- Cash
- Bank transfer
- Visa, MasterCard, American Express, Maestro, Bancontact, Ideal, PayPal, China Union Pay


Article 3. TERMS OF DELIVERY

3.1. In general

With ‘delivery’ we mean – unless otherwise defined – first delivery to the client in case of a purchase.

BAUNAT N.V. takes cost and insurance of the first delivery due to a purchase at her charge.

Purchased products will only be delivered by BAUNAT N.V. after payment or confirmation of payment according to art.
1.3. and 1.4. of the present general conditions.

Purchases of products of BAUNAT N.V are dispatched worldwide. BAUNAT N.V. works together with transport
companies specialized in the forwarding of valuable goods. Depending on the place of delivery, the purchased products
will - in most cases - be forwarded by one of the following specialized companies: Brinks, Fed-Ex, UPS or DHL.

3.2. Term of delivery

Calculation of the term

The estimated time depends on the place of delivery and the type of product. The term of delivery mentioned in the offer
is merely indicative and does not create any rights for the client. The term of delivery will be mentioned in the offer and –
if required – confirmed in the order confirmation forwarded to the client.

Expedition between 10 and 20 working days

BAUNAT N.V. exerts herself to deliver the purchased products as soon as possible. A term of delivery of 10 to a
maximum of 20 working days should be taken into account by the client. This delivery term starts from the day of
reception of the payment on the account of BAUNAT.

Delay in delivery

BAUNAT N.V. exerts herself to notify delays in deliveries to the client, by mail, fax or telephone, within 24 hours.

BAUNAT strives for excellence in delivery times. Since 2008 BAUNAT has delivered > 95% of its packages in time, regardless the destination. Having said this, and although BAUNAT works with very reputed delivery partners (FedEx, UPS, DHL, Brinks, etcetera), BAUNAT can only control the ‘in-time’ shipment of a package. A delay in delivery can always happen and is therefore beyond our control. No company in the world can guarantee a 100% in time delivery. This is simply impossible as we always rely on people. Therefore, a late delivery as such does not grant the client any right for financial compensation.

In the exceptional situation of a non-delivery or loss of package, the client will receive the option to be refunded or the option of reproduction and delivery of the same diamond.


3.3. Delivery address

Purchased products will be delivered at the place mentioned by the client in his intention of purchase or in the
acceptation of the offer. Client can be asked to sign a delivery note when the purchased goods are delivered.

3.4. Follow up of shipping

Reference number

When the purchased product is shipped, the client will receive a shipping reference number by email, by which he can
follow up the shipment on the website of BAUNAT N.V. starting from the collection at BAUNAT N.V. BAUNAT N.V. asks
the client to make a precise follow up of the shipment and to assure that he will collect himself or charge a trustful person
to collect the purchased product.

Control of the shipped parcels

BAUNAT N.V. recommends her clients to check shipped parcels previous to the signature of the delivery note.

3.5. Packaging of the product

All purchased products ready to be shipped by BAUNAT N.V. are packed in a very secure and discrete way.

3.6. Insurance of the shipped product

Risk-free

Each shipment made by BAUNAT N.V. in case of a first delivery to a client due to a purchase is fully insured (risk-free).
BAUNAT N.V. takes in this case all shipping risks at her charge. For security reasons the client can be asked to sign a
delivery note when the purchased goods are delivered. BAUNAT N.V. asks the client to make a precise follow up of the
shipment and to assure that he will collect himself or charge a trustful person to collect the purchased product.

Transfer of risk & property

Risks & property are transferred to the client once the parcel (which contains the purchased product) has been delivered
to the clients' (indicated) address, even if the delivery note has not been signed.

3.7. Lack of collection of delivery

When the client fails to collect the parcel in due time, the parcel will be reshipped to BAUNAT N.V. BAUNAT N.V. will
notify the client that the purchased product(s) remain(s) at his disposal at BAUNAT N.V. and will invite the client to collect
the purchased product within 1 month after reshipment. The client will be entitled to collect the purchased product after
payment of reshipment charges or to ask for reshipment to his address after payment of the reshipment charges to
BAUNAT N.V. and reshipment charges to the (new) address of the client.


Article 4. DIAMONDS ON OFFER & DIAMOND CERTIFICATES

4.1. Diamonds on offer

BAUNAT only offers 100% natural diamonds. This means no treated, artificial or clarity intensified diamonds.

4.2. Used diamond certificates

BAUNAT only uses high quality diamonds. For each diamond you receive a certificate of a highly recognized diamond
laboratory, with a description of your stone's 4 C's. These laboratories are in principle GIA, HRD or IGI. When a client
has specific preference in terms of certificates before purchase, BAUNAT will try to meet these. Unless specifically
mentioned, BAUNAT will never guarantee this. Also will the client explicitly agree on the quality description of the
diamonds as mentioned on the certificates delivered. Consequently, BAUNAT will not respond to any further arguments in
this matter.

When the ‘Diamond grading report' (= certificate) has to be replaced, BAUNAT N.V. is entitled to ask the client for
payment of € 200 to cover the administrative costs.

Article 5. PERSONAL DATA

BAUNAT N.V. will treat personal data received from clients according the legal provisions concerning respect of privacy, as mentioned in her website.

Article 6. MODIFICATIONS TO THE GENERAL CONDITIONS

6.1. Publication of the modifications

BAUNAT N.V. can modify the present general conditions, the prices on the website, the product-line and its offers at any
time and will notify these changes to the client on her website. These changes are applicable as soon as they are
published on the website.

6.2. Acceptance of the modifications

Use of the website after the publication of the modification of the general sales conditions means the acceptance of the
modified version of the general conditions. The client is requested to consult the general conditions at regular intervals.

Article 7. SETTLEMENT OF CONFLICTS, APPLICABLE LAW AND JURISDICTION

7.1. Settlement of conflicts

BAUNAT N.V. exerts herself to please her clients. When a conflict relating to the interpretation and/or the fulfillment of the
contract and the present general conditions appears, the client will be invited to take contact as soon as possible with one
of BAUNAT N.V.s' representatives. BAUNAT N.V. will exert herself to resolve the problems, the claims and the
observations of the client in a constructive way, but always with reference to the ‘Terms & Conditions’. Furthermore, as
we consider the business integrity of our staff as our highest asset, we inform that any form of intimidation, defamation,
threat, unreasonable behavior, offense or unfounded incrimination towards one of BAUNAT N.V.s' representatives will not
be tolerated and will directly result that the line of communication will be handed over to our specialized legal team. In this
regard, we draw the attention on the fact that, as a matter of principle BAUNAT N.V. will take all necessary legal
measures (including launching court procedure) in order to protect itself against any form of intimidation, defamation,
threat, unreasonable behavior, offense or unfounded incrimination.

7.2. Jurisdiction

When parties were unable to resolve the conflict in an amicable way, only the Courts of the judicial district of Antwerpen
are authorized. These Courts will have exclusive jurisdiction for all issues conflicts and disputes concerning the validity,
the interpretation the enforcement or termination of the contract between the parties.The language used for legal disputes
will be Dutch. In order to facilitate communication with the other party, BAUNAT N.V.may decide - at its own discretion - to
use the English language, but this is never to be considered as an obligation.

7.3. Applicable Law

All issues, questions and disputes concerning the validity, the interpretation the enforcement or termination of the contract
between the partiesshall only be governed and construed by Belgian law. No effect shall be given to any other choice of
law or to any conflict-of-law rules or provisions (Belgian, foreign or international) that would result in the appliance of
another law or in the appliance of the Vienna convention concerning international sales.

Article 8. MISCELLANEOUS PROVISIONS

The social seat of BAUNAT N.V. is established at 2018 Antwerpen, België, Rijfstraat 2-4, bus 171, KBO 0899.153.574, RPR Antwerpen.

For any questions, claims and observations concerning the services, the orders, the management, the privacy issues or the general conditions of BAUNAT N.V., please contact :
- e-mail:info@baunat.com
- telephone : +32 (0)3 201.24.90 (open every day from 9h till 12h and from 14h till 16h)
- fax: +32/(0)3 201.24.99
- address : BAUNAT N.V., Rijfstraat 2-4 bus 171, 2018 Antwerpen, België

Legal information & privacy policy

1. Legal information

General information

These General Conditions apply to the website www.baunatdiamonds.com. By using this website you commit yourself (hereafter the client) to accept and to respect these general conditions & the conditions explained under ‘legal information & privacy policy as shown on www.baunatdiamonds.com
This website has been created and is managed by BAUNAT NV, Rijfstraat 2-4, box 171, 2018 Antwerp, Belgium, KBO 0899.153.574, RPR Antwerp.

2. Privacy Policy of BAUNAT NV

Which private data are kept

BAUNAT N.V. does not collect private information unless provided on a voluntary basis.
By filling in & sending the order form in the website, or by sending an (e-)mail each visitor gives BAUNAT Nv the right to store these personal data in a database of BAUNAT Nv. This information might be used for automatic consumer profiling, client management, market research & direct mailing (by mail or electronic)

BAUNAT N.V. commits itself to use these data only for its service after sale or with purpose to send information. Only after pre-approval, these data will be used for direct electronic marketing. However this pre-approval will not be needed, in case BAUNAT Nv decides to use electronic contact details received via delivery of specific services or products, for direct email marketing of similar products or services. These received data can be transmitted for these purposes by BAUNAT Nv to companies which are contractually linked to BAUNAT Nv.
In any case, each visitor & client has the right on insight & - if needed – to correction of the personal details as referred to, and each visitor/client has the right to object – at no cost – any processing or utilization of its personal details for marketing purposes. For this (Law of 8 September 1992) one has simply to contact the service department of BAUNAT Nv (see below point 3).

The utilization of cookies:

When visiting the site of BAUNAT N.V. automatically the so-called 'cookies' might be stored on the hard disk of your computer. Cookies are small databases with a unique identification number, which are automatically stored on the hard disk.
The data received by means of cookies enables BAUNAT N.V. to
- analyze its website in order to identify & remove possible flaws;
- simplify the access to & the corresponding navigation through the website of BAUNAT N.V.;
- individualize the website according to the personal wishes & preferences of each visitor.

You can accept or reject cookies. For this you have to consult the help function of your browser. The configuration of most internet browsers enables to inform you each time use is made of cookies. As said, you can always reject these cookies, though this rejection might undermine the navigation & the functionality of the services offered by the website of BAUNAT Nv.

Finally BAUNAT N.V. can collect anonymous or aggregated data of non personal character, like there are: the browser type; the IP address; the used navigation program; or the domain name of the website by which you have transited towards the BAUNAT website, or via which you exit the BAUNAT website.
BAUNAT N.V. has installed all the necessary & sufficient security measures in order to avoid the loss, the improper use or the change of information which is received on www.baunatdiamonds.com.


3. Questions, Complaints & Observations

For any questions, claims and observations concerning the privacy policy (and corresponding legal information) of BAUNAT NV, please contact :
- e-mail:info@baunat.com
- telephone : +32 (0)3 201.24.90 (open every day from 9h till 12h and from 14h till 16h)
- fax: +32/(0)3 201.24.99
- address : BAUNAT N.V., Rijfstraat 2-4 box 171, 2018 Antwerp, Belgium

Antwerp, 20 January 2013
General Terms and Conditions for BAUNAT DIAMONDS - Baunat Diamonds