Old Silver Exchange Policy

OLD SILVER EXCHANGE POLICY

At Hansuli, we believe that old silver should not simply remain forgotten in a locker. It can be given a new life through thoughtful craftsmanship.

Our Old Silver Exchange Service allows customers to bring eligible old silver jewellery or silver articles to Hansuli and use the assessed value towards the purchase of eligible Hansuli jewellery, subject to testing, valuation, applicable deductions, documentation, and the terms below.

Under the Hansuli Old Silver Exchange programme, a customer may submit eligible old silver jewellery or silver articles for assessment.

After testing and valuation, the net eligible value of the accepted silver may be adjusted against the customer’s purchase of Hansuli jewellery.

Old silver exchange is subject to:

• Purity verification
• Weight verification
• Material assessment
• Applicable deductions
• Product eligibility
• Customer verification
• Applicable laws and regulations

Subject to inspection, Hansuli may accept:

• Old silver jewellery
• Traditional silver jewellery
• Broken silver jewellery
• Silver chains
• Silver bangles
• Silver rings
• Silver earrings
• Silver anklets
• Silver ornaments
• Silver utensils/articles, where accepted
• Other silver articles approved by Hansuli

Acceptance is subject to successful testing and verification.

Hansuli may refuse items that:

• Cannot be reasonably identified or tested;
• Are suspected to be counterfeit;
• Contain prohibited or unsafe materials;
• Have unclear ownership;
• Are subject to a dispute;
• Appear stolen or unlawfully obtained;
• Cannot be processed economically;
• Are predominantly non-silver material;
• Are damaged in a manner that prevents reliable assessment;
• Fall outside Hansuli’s accepted categories.

Hansuli reserves the right to decline an exchange transaction.

By submitting old silver to Hansuli, the customer represents that:

• They are the lawful owner of the item; or
• They are legally authorised to sell/exchange it.

The customer must not submit property belonging to another person without appropriate authority.

Hansuli may request reasonable identification or ownership information where required.

The silver submitted for exchange will be assessed to determine its approximate purity and composition.

Depending on the item, Hansuli may use appropriate testing methods, which may include:

• Visual inspection
• Magnet testing
• Touchstone testing
• Electronic testing
• XRF testing, where available
• Other appropriate metallurgical or purity-testing methods

The testing method may vary depending on the item.

The colour, shine, age, stamp, engraving, or appearance of an item does not by itself establish silver purity.

For example, an item marked “925” may still require verification.

The final exchange valuation shall be based on the purity determined through Hansuli’s applicable testing and assessment process.

Where old jewellery is identified as approximately 925 silver, it may be valued according to the applicable assessed purity and Hansuli’s prevailing exchange rate.

A “925” marking is not, by itself, a guarantee of purity.

After inspection, the eligible silver material will be weighed using an appropriate weighing scale.

The gross weight of an item may include:

• Silver
• Stones
• Beads
• Pearls
• Thread
• Lac
• Wax
• Adhesive
• Non-silver components
• Other materials

Therefore, gross weight is not necessarily the chargeable silver weight.

Where an item contains non-silver components, Hansuli may deduct their weight before calculating the eligible silver weight.

This may include:

• Stones
• Pearls
• Beads
• Lac
• Thread
• Plastic
• Glass
• Steel
• Iron
• Other metals
• Hooks or components made from non-silver materials

Only the eligible silver content will generally be considered for silver exchange valuation.

The approximate fine-silver content may be determined using:

Eligible Weight × Assessed Purity = Fine Silver Equivalent

For example:

If an item weighs 100 grams and is assessed at 80% silver purity:

100 g × 80% = 80 g fine-silver equivalent

The actual exchange valuation will then be determined according to Hansuli’s applicable exchange rate and policy.

This example is illustrative only.

Hansuli may maintain a separate Old Silver Exchange Rate based on prevailing silver market conditions and the applicable purity.

The exchange rate may differ from:

• New jewellery selling price
• Retail silver price
• Spot market price
• Silver purchase price
• Rate applicable to new silver jewellery

The applicable exchange rate will be communicated to the customer before the transaction is finalised.

Silver prices may fluctuate regularly.

The applicable rate shall be the rate confirmed by Hansuli for the exchange transaction at the time of valuation/settlement.

A rate quoted on a previous day or during a previous transaction does not automatically remain valid.

The basic exchange value may be calculated as:

Eligible Silver Weight × Assessed Purity × Applicable Exchange Rate

From this amount, applicable deductions may be made according to the nature of the material and transaction.

The resulting amount shall be the Net Exchange Value.

Depending on the item and transaction, deductions may apply for:

• Non-silver material
• Stones or other components
• Refining requirements
• Melting losses, where applicable
• Processing costs
• Testing
• Other applicable charges

Any deduction applicable to the customer’s transaction should be communicated before final settlement.

Hansuli shall endeavour to maintain transparency in the calculation.

Old jewellery may contain solder, alloys, impurities, stones, lac, or other materials.

Where old silver must be processed, refined, or melted, the recoverable silver may differ from the gross weight of the original article.

Any applicable deduction or adjustment shall be communicated according to Hansuli’s exchange methodology.

If old jewellery contains gemstones or other valuable materials, their treatment must be clarified before exchange.

Unless specifically agreed otherwise:

Hansuli’s old silver exchange valuation is based on eligible silver content and does not automatically include the value of stones, gemstones, pearls, or other decorative materials.

Customers should inform the Hansuli team if they want stones removed or separately evaluated before the silver is processed.

Customers should carefully consider whether an old traditional ornament has sentimental, cultural, historical, or family value before exchanging it.

Once an old jewellery piece is accepted for melting or processing, the original design may be permanently lost.

We strongly recommend:

Do not approve melting of an heirloom or traditional piece until you are completely certain that you no longer wish to preserve the original ornament.

Where melting or irreversible processing is required, Hansuli may obtain customer approval before proceeding.

Once the customer authorises irreversible processing, the original jewellery may not be recoverable in its original form.

For an old silver exchange transaction, Hansuli may record:

• Customer name
• Mobile number
• Address, where required
• Identification details, where legally required
• Date of transaction
• Description of items
• Gross weight
• Deducted non-silver weight
• Net eligible weight
• Assessed purity
• Applicable rate
• Gross exchange value
• Deductions
• Net exchange value
• New jewellery purchased
• Balance payable
• Invoice number
• Customer acknowledgement

The documentation may vary depending on the transaction and applicable legal requirements.

For certain transactions, Hansuli may request identity or address documentation as required by applicable law or internal compliance procedures.

Depending on the circumstances, this may include appropriate government-issued identification or other legally acceptable documents.

Customers should provide only genuine and valid documentation.

Hansuli may refuse or delay a transaction where required information cannot be reasonably verified.

Where applicable under Indian tax laws or regulations, Hansuli may request PAN or other tax-related information.

The requirement may depend on:

• Transaction value
• Nature of transaction
• Payment method
• Customer status
• Applicable tax rules

Customers will be informed where such documentation is required.

Before final settlement, the customer may be asked to confirm:

• The assessed weight
• Purity
• Applicable rate
• Deductions
• Net exchange value
• New jewellery selected
• Balance amount payable

The customer should review these details carefully before approving the transaction.

Hansuli’s Old Silver Exchange Programme is intended primarily as an exchange/adjustment facility against the purchase of eligible Hansuli jewellery.

The assessed old-silver value may be adjusted against the customer’s new purchase according to the applicable exchange terms.

Whether any cash settlement is available will depend on the nature of the transaction and applicable law.

Hansuli does not promise cash payment merely because old silver has been submitted for assessment.

If the value of the new Hansuli jewellery is higher than the net exchange value of the old silver:

Customer pays:

New Jewellery Value – Net Exchange Value = Balance Payable

Applicable taxes, making charges, or other charges shall be reflected in the final invoice as applicable.

If the eligible exchange value exceeds the value of the selected Hansuli jewellery, the treatment of the balance will depend on the specific exchange programme and applicable terms.

Hansuli may offer:

• Adjustment against another eligible product;
• Store credit, where specifically offered; or
• Another legally permissible settlement method.

A cash refund of the difference is not automatically available unless specifically agreed or required under applicable law.

Once the customer approves the valuation and proceeds with the exchange:

1. The old silver is accepted according to the agreed valuation. 2. The exchange value is recorded. 3. The new jewellery is invoiced. 4. The exchange amount is adjusted. 5. Any balance amount is collected. 6. The transaction is documented.

Customers should retain their final invoice.

If a customer does not agree with the initial valuation, they should raise the concern before approving the final exchange transaction.

Once the old silver has been melted, processed, or irreversibly altered with the customer’s approval, revaluation of the original piece may not be possible.

Once old silver has been:

• Melted
• Refined
• Cut
• Dismantled
• Processed
• Mixed with other material

it may not be possible to return the original jewellery in its original form.

Customers should provide final approval before irreversible processing.

If Hansuli determines that an item cannot be accepted for exchange, the item may be returned to the customer after completion of the assessment.

Where a testing or assessment charge has been expressly communicated and agreed, such charge may apply.

If an item appears to contain silver but its composition cannot be reliably determined, Hansuli may:

• Conduct additional testing;
• Offer a provisional valuation;
• Decline the item;
• Request further information.

No final exchange value shall be considered confirmed until the assessment is complete.

Silver-plated, silver-coated, or silver-coloured items are not automatically treated as solid silver.

Where an item is found to be plated rather than solid silver, it may not qualify for the standard old silver exchange rate.

Hansuli may decline such items or value them according to an applicable alternative method.

Jewellery containing silver mixed with other metals may be valued based on the assessed silver content rather than gross weight.

Examples may include jewellery containing:

• Copper
• Brass
• German silver
• Steel
• Other alloys

The customer’s exchange value will depend on the actual eligible silver content.

Items commonly marketed as “German Silver” are not necessarily made of silver.

The name “German Silver” can refer to a nickel/copper/zinc alloy that contains no actual silver.

Such items will not automatically qualify for silver exchange.

Hansuli will assess the actual composition before assigning any exchange value.

For articles containing:

• Wood
• Fabric
• Lac
• Thread
• Resin
• Plastic
• Glass
• Stone
• Other non-metal materials

Hansuli may remove or deduct the non-silver portion before determining the eligible silver weight.

Old Hansuli jewellery may be eligible for exchange subject to the same assessment process.

The original purchase price of the jewellery does not automatically determine its current exchange value.

Exchange value is determined based on the applicable assessment methodology at the time of exchange.

The original invoice may assist in verifying the product and transaction history, but the original purchase price does not automatically become the exchange value.

The current exchange valuation is determined based on the applicable silver content, purity, rate, and deductions.

If an item contains both gold and silver, the customer must inform Hansuli before the exchange is processed.

Such items may require separate metal testing and valuation.

Gold shall not automatically be included in a silver exchange calculation.

Customers are responsible for:

• Declaring relevant information about the jewellery;
• Providing accurate identification where required;
• Confirming ownership;
• Reviewing the valuation;
• Reviewing deductions;
• Approving the final exchange value;
• Retaining the invoice;
• Informing Hansuli about stones or sentimental components before processing.

Hansuli aims to make old silver exchange as transparent as possible.

Before final approval, customers should be able to understand the major components of the calculation:

1. Gross Weight

Total weight of the submitted item.

2. Non-Silver Weight

Weight attributed to stones, beads, lac, thread, or other non-silver components, where applicable.

3. Net Eligible Weight

Weight considered for silver valuation.

4. Assessed Purity

Purity determined through the applicable testing method.

5. Applicable Exchange Rate

Rate applicable to the assessed silver.

6. Gross Silver Value

Value calculated from eligible silver.

7. Applicable Deductions

Any communicated processing/refining/other deductions.

8. Net Exchange Value

Final value available for adjustment against the new purchase.

The following is only an example to explain the calculation.

Suppose:

Gross jewellery weight: 100 g Non-silver components: 10 g Net eligible weight: 90 g Assessed purity: 80% Applicable exchange rate: ₹X per gram

Fine silver equivalent:

90 g × 80% = 72 g

Exchange value:

72 g × ₹X = ₹Y

Any applicable deductions would then be shown separately before arriving at the final Net Exchange Value.

The actual rate and deductions applicable to a transaction will be communicated at the time of exchange.

If a customer disagrees with the purity assessment, they should raise the concern before approving the transaction.

Hansuli may conduct an additional test or recommend an appropriate verification method where reasonably possible.

The final valuation will be based on the applicable testing methodology and available evidence.

Information collected during an old silver exchange transaction will be handled according to the Hansuli Privacy Policy.

Information may be retained for:

• Transaction records
• Accounting
• Tax compliance
• Legal requirements
• Fraud prevention
• Customer service
• Dispute resolution

Hansuli does not knowingly accept stolen, unlawfully obtained, counterfeit, or disputed property.

If there is a reasonable concern regarding ownership or legality, Hansuli may:

• Refuse the transaction;
• Request additional documentation;
• Hold the transaction for verification;
• Take other steps required by applicable law.

The customer should review and approve the valuation before the exchange is finalised.

Once the transaction has been completed and the old silver has been processed or the new jewellery has been invoiced, cancellation or reversal may not be possible except as provided by applicable law or Hansuli’s applicable policies.

Old silver may, where Hansuli agrees, be used towards a custom or made-to-order jewellery order.

The Old Silver Exchange Policy and Custom/Made-to-Order Policy will apply together.

Once custom production begins, the old silver may have already been processed and the custom order may become subject to the applicable cancellation restrictions.

By approving an old silver exchange, the customer acknowledges that:

• Silver purity must be assessed rather than assumed.
• Gross weight is not necessarily pure silver weight.
• Stones and non-silver materials may be deducted.
• Exchange rates may differ from retail selling rates.
• Applicable deductions may reduce the final exchange value.
• The original purchase price does not determine today’s exchange value.
• Melting/processing may permanently alter the original jewellery.
• The final valuation should be approved before irreversible processing.

Before exchanging an old traditional ornament, please consider whether it has:

• Family history
• Sentimental value
• Cultural significance
• An identifiable traditional design
• Antique characteristics

Once melted or dismantled, the original ornament may never be recreated exactly.

At Hansuli, we would rather help you preserve a meaningful piece than see a piece of heritage disappear unnecessarily.

Where possible, our team may suggest:

Repair → Restore → Redesign → Exchange

rather than immediately melting an old heirloom.

For an Old Silver Exchange enquiry:

Hansuli Phone/WhatsApp: +91 84499 99110 Email: Hansulijewellers@gmail.com Address: Hansuli Store, opposite Shri Krishna Wedding Palace, Sahastradhara Road, Dehradun 248001 Website: the Hansuli website

Customers may also send photographs through our official WhatsApp channel before visiting, although a photograph cannot replace physical testing and valuation.

Hansuli may update this Old Silver Exchange Policy from time to time due to:

• Changes in silver market conditions
• Changes in business practices
• Changes in testing methods
• Changes in applicable laws
• Changes in tax or compliance requirements

The latest version published by Hansuli shall apply to future transactions.

Nothing in this policy is intended to exclude, restrict, or override any mandatory rights or remedies available to consumers under applicable Indian law.

Where applicable law provides additional rights or obligations, those provisions shall prevail.

HANSULI

DEV BHOOMI KI THAATI

Purani chaandi ko nayi kahaani dein.

Bring your old silver to Hansuli, let us assess it transparently, and together give its silver a new life.