Privacy & Policy

Terms & Conditions

These terms and conditions outline the rules and regulations for the use of Radhakrishnan Diamond's Website, located at http://radhakrishnadiamond.com
RKD diamond company reserves the right to change these Terms & Conditions. Your continued use of the site constitutes your acceptance of the new or modified Terms & Condition.

The following terminology applies to these Terms and Conditions, Privacy Statement and Disclaimer Notice and all Agreements:-

In exercise of the powers conferred by clause (a) of sub-section (1), sub-section (3) of Section 7 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in supersession of its Notification No.FEMA.23/2000-RB dated May 3, 2000 as amended from time to time, Reserve Bank of India makes the following Regulations in respect of Export of Goods and Services from India

All information provided on the Site, including prices, product descriptions and availability is the property of RKD diamond and may not be shared with any competitors of RKD diamond. This includes, but is not limited to, all commercial third parties in the business of selling diamonds, gems, and jewellery products.

Diamond prices are determined by our company according to Rapaport. The company buying the diamond will have to pay 100% in advance.

Diamond grading reports and certificates provide useful gemological information that is based on subjective grading methods and standards. The same diamond may be graded by the same laboratory differently upon resubmission. A difference of one colour and/or clarity grade is not unusual. Due to their subjective nature diamond grading reports and certificates are an important indication but not a guarantee of quality.

RKD diamond will be able to take on legal action if the payment is cheated by the diamond buyer/seller.

Third party payments for export / import transactions :-

Taking into account the evolving international trade practices, it has been decided to permit third party payments for export/import transactions can be made subject to conditions as under:

1. Firm irrevocable order backed by a tripartite agreement should be in place. However, it may not be insisted upon in cases where documentary evidence for circumstances leading to third party payments/name of the third party being mentioned in the irrevocable order/ invoice has been produced subject to:
1. AD bank should be satisfied with the bona-fides of the transaction and export documents, such as invoice / FIRC.
2. AD bank should consider the FATF statements while handling such transaction.
2. Third-party payment should be routed through the banking channel only;
3. The exporter should declare the third party remittance in the Export Declaration Form and it would be the responsibility of the Exporter to realize and repatriate the export proceeds from such third party named in the EDF;
4. It would be the responsibility of the Exporter to realize and repatriate the export proceeds from such third party named in the EDF;
5. Reporting of outstanding, if any, in the XOS would continue to be shown against the name of the exporter. However, instead of the name of the overseas buyer from where the proceeds have to be realized, the name of the declared third party should appear in the XOS;
6. In case of shipments being made to a country in Group II of Restricted Cover Countries, (e.g. Sudan, Somalia, etc.), payments for the same may be received from an Open Cover Country; and
7. In case of imports, the Invoice should contain a narration that the related payment has to be made to the (named) third party, the Bill of Entry should mention the name of the shipper as also the narration that the related payment has to be made to the (named) third party and the importer should comply with the related extant instructions relating to imports including those on advance payment being made for import of goods.

Advance payment against exports:-

1. Where an exporter receives advance payment (with or without interest), from a buyer / third party named in the export declaration made by the exporter, outside India, the exporter shall be under an obligation to ensure that –
1. the shipment of goods is made within one year from the date of receipt of advance payment;
2. the rate of interest, if any, payable on the advance payment does not exceed the rate of interest London Inter-Bank Offered Rate (LIBOR) + 100 basis points and
3. the documents covering the shipment are routed through the authorised dealer through whom the advance payment is received;Provided that in the event of the exporter's inability to make the shipment, partly or fully, within one year from the date of receipt of advance payment, no remittance towards refund of unutilized portion of advance payment or towards payment of interest, shall be made after the expiry of the period of one year, without the prior approval of the Reserve Bank.
2. Notwithstanding anything contained in clause (i) of sub-regulation (1), an exporter may receive advance payment where the export agreement itself duly provides for shipment of goods extending beyond the period of one year from the date of receipt of advance payment.