1.1 At any time after the Delivery Date, an eligible Product may be exchanged for other Products ("Lifetime Exchange") or sold back to Kavera for payment ("Buy-Back"), on the terms of this Policy.

1.2 This commitment is calculated at the rates applicable on the Valuation Date, as explained in clause 5.2 of the Terms of Use. It is not a guarantee of market value.

2.1 A request may be made by the person named on the tax invoice, or by a person who presents the original Product Documents together with written authorisation from that person (for example, the recipient of a gift). Kavera may ask for identity documents from both.

3.1 Lifetime Exchange and Buy-Back apply only to Products purchased through a Kavera Channel and are not available for: (a) loose laboratory-grown diamonds and loose stones of any kind, including baguettes and tapered stones; or (b) jewellery set with polki, pearls or coloured gemstones.

3.2 Buy-Back is available for Products with an invoice value of up to ₹4,99,999 per Product. Products above this value are eligible for Lifetime Exchange.

3.3 A Product that has been altered, resized, repaired or otherwise modified by anyone other than Kavera is eligible only for its Metal Value. Laboratory-grown diamonds in such a Product are valued only where each stone can be matched to its grading report, by laser inscription or by re-certification at your cost.

4.1 The exchange and buy-back values are:

4.2 Values are calculated only on metal and laboratory-grown diamond content. Making charges, GST and any other charges paid at purchase are not included.

4.3 The following are deducted from the calculated value: (a) a processing fee of ₹1,000 per Product, which covers insured reverse logistics, testing and handling; (b) a certificate reissuance fee of ₹2,000 or ₹800 per carat, whichever is higher, for each grading report not presented; (c) the value of any free gift supplied with the Product and not returned, and any loyalty benefit linked to the purchase that has not been reversed; (d) any outstanding EMI or credit balance relating to the Product, which Kavera may settle directly with the financier; and (e) any tax Kavera is required by law to deduct.

4.4 Example: a ring is received for valuation, with a Metal Value of ₹30,000 and a Stone Value of ₹30,000 on the Valuation Date. Its exchange value is ₹60,000 (100% of each), less the ₹1,000 processing fee, giving ₹59,000. Its buy-back value is ₹30,000 plus ₹24,000 (80% of the Stone Value), which is ₹54,000 (90% of the ring's current material value), less the ₹1,000 processing fee, giving ₹53,000. These figures are illustrative only, and actual values depend on rates on the Valuation Date.

5.1 To make a request, use your Account or write to care@kavera.in. Kavera arranges an insured pickup under clause 9 of the Shipping & Delivery Policy.

5.2 On receipt, Kavera inspects the Product, measures its Net Metal Weight, tests its purity, verifies each laboratory-grown diamond against its grading report and laser inscription, and assesses its condition.

5.3 Within 5 Business Days of receipt, Kavera issues a written valuation statement ("Valuation Statement") showing the Net Metal Weight, Tested Purity, Reference Rate, the specification and Stone Value of each stone, the percentages applied, each deduction, and the net amount.

5.4 Because metal prices change daily, a Valuation Statement is valid until the end of the second Business Day after it is issued. You may accept it in writing through your Account or by email. If it expires, Kavera will revalue the Product at the then-current Reference Rate and Stone Value on request.

5.5 If you reject the Valuation Statement, or do not respond within 15 days of its issue, Kavera returns the Product to you at its own cost, and no processing fee is charged.

6.1 You may (a) ask for a re-assessment by a different Kavera assessor, giving your reasons; and (b) ask for any stone to be re-graded by SGL, at your cost. If the re-grading results in a higher grade than Kavera's assessment, Kavera will reimburse the re-grading fee and revise the Valuation Statement.

6.2 You may also raise the matter under the Grievance Redressal Policy, and your rights under law remain unaffected.

7.1 The accepted exchange value is applied towards a new purchase on a Kavera Channel. If the new purchase costs more, you pay the difference. If it costs less, the balance is issued as Kavera Credit under the Offers, Promotions & Kavera Credit Terms.

8.1 The accepted amount is paid within 10 Business Days of acceptance and completion of KYC under clause 10 of the Terms of Use, by bank transfer only, to a bank account verified by Kavera as held in the name of the person making the request. Kavera does not make buy-back payments in cash or to third-party accounts.

9.1 The exchange and buy-back percentages in clause 4.1 that apply to a Product are those in force on the date of its Order Confirmation. Kavera may change these percentages for future purchases, but no change will apply to your disadvantage in respect of a Product already purchased. The fees in this Policy may be revised by updating this Policy.