In this arrangement the subscriber is hereby entering into an understanding to purchase jewellery from M/s Alukkas Jewellery (Francis Alukkas) for a fixed amount on or before 364 days from the date on which he entered into the understanding. The systematic purchase advance installment amount is fixed on entering into the understanding and must be paid for 12 installments. Monthly purchase advance can be Rs. 1,000/- and their multiples as per the choice of the customers. A customer can join the purchase advance scheme by paying the first installment.

On subscribing to the arrangement, he only enters into an understanding for purchase of jewellery and for payment of installment for the agreed term for the purchase of jewellery, and neither pays amounts in the nature of deposit or loan.

A subscriber can enter into the understanding after carefully reading, understanding, and agreeing to its terms and conditions and submitting the fully filled in and signed application. Along with the application, first installment towards the purchase advance amount opted and photo ID of the subscriber is to be submitted. If the aggregate purchase advance amount is Rs. 2,00,000/- or more, the entire amount should be paid through banking channels and a copy of PAN of the subscriber must also be furnished.

In this arrangement, a minor cannot be a subscriber. On entering into the understanding, the subscriber's ID is to be furnished and jewellery is to be purchased in the name of the subscriber only; subscription amounts are not transferable. However, the subscriber can appoint a nominee, who should be a major, and should furnish their ID and PAN in appropriate cases.

The term of the arrangement is fixed on entering into the understanding and the maximum term is 335 days (period of the arrangement). In this arrangement, payment of the installment amount cannot be postponed. It cannot be adjusted towards a different arrangement with the supplier and the purchase advance paid cannot be claimed in cash under any circumstances.

The arrangement will be terminated on payment of the last installment of the purchase advance amount fixed, without any default. No partial withdrawal from the installment amounts remitted is allowed. Under this arrangement, gold coins or gold bars cannot be purchased under any circumstances.

The subscriber is entitled to redeem the accumulated purchase advance amount and to adjust it towards their purchase value of jewellery on expiry of 335 days from the date of entering into the understanding, at the gold rate including Value Addition (VA) prevailing on the date of purchase. The gold rate applied on purchases of jewellery shall be the rate announced by the Jewellery Merchant's Association and applicable at the time of actual purchase of jewellery by the subscriber.

The purchase advance amount will be accepted only at the showrooms or customer centres after issuing a valid receipt. Installment amounts can also be remitted by crossed cheque, DD, NEFT, or online using our secure payment gateway, as well as directly in designated bank accounts.

Installment towards the purchase advance can be paid in cash in showrooms/customer centres only if the total installment amount fixed is below Rs. 2,00,000/-. Subscriber account details must be shown on the reverse of the pay-in slip, cheque, or DD. The subscriber will get credit for the cheque/DD/online payment amount only on realization of the amount in the bank account of the company. All bank charges/payment gateway charges for collection and on dishonour of cheque shall be borne by the subscriber.

Remittance of installments will be accepted in advance, but the arrangement will not mature before the due date and no special benefits or discounts will be given against such advance payments. The subscriber is permitted to remit a maximum of two default installments during the whole period of the arrangement. All payments will first be adjusted towards defaulting installments, if any. Installment payments will be blocked on the date of maturity of the arrangement term as printed on the passbook and thereafter no installment amount can be accepted in any mode. In case of more defaults, the subscription benefits will be treated as forfeited.

On maturity of the arrangement term as shown in the passbook, the subscriber has to purchase gold jewellery for the entire purchase advance amount remitted by them within a period of 10 days from the maturity date.

The subscriber, after remitting the entire installment amount of the purchase advance on time, will be eligible for special discounts as shown in the brochure. If the subscriber pays 11 installments or 10 installments within the scheme maturity period, their discount eligibility will be restricted to 85% and 70% of the maximum discount, respectively.

Periodical installment payments are only towards the value of jewellery to be purchased as per the understanding. The jewellery sale takes place only upon termination of the arrangement term and on accepting delivery of the jewellery by the subscriber for the advance amount remitted, upon which the subscriber will be liable to pay the applicable commercial tax liability (GST).

All relevant statutory taxes, statutory provisions, and making charges (Value Addition / VA) are applicable to this arrangement on purchase of jewellery, and the subscriber is required to comply with all such statutory provisions.

Benefits offered on purchase of jewellery under this arrangement will not be available for purchases exceeding the amount agreed to under this arrangement and advance remitted. Likewise, other special or general promotional offers announced by the company from time to time cannot be combined with jewellery purchases under this scheme.

In case of premature closure of the arrangement, the subscriber will be eligible to purchase gold jewellery for the advance amount actually remitted by them. In such cases, the subscriber will not be eligible for any bonus benefits or discounts offered upon entering into the understanding.

The Firm holds the sole discretion to alter, amend, or modify the terms of this understanding and/or discontinue it without prior individual notice. In case of loss or misplacement of the original passbook, a duplicate may be issued against a written request in the prescribed format made by the original subscriber within a period of 15 days from the date of receipt of the request.

All disputes or claims in connection with this arrangement shall be subject to the exclusive jurisdiction of the competent courts of Kozhikode (Kerala State), India.

Income Tax will be deducted at source in accordance with the provisions of the Income Tax Act from subscribers, and they shall provide copies of their PAN card. Any subscriber wishing not to have tax deducted at source must submit Form No. 15G / 15H along with a copy of PAN in advance. In the case of TDS, the total purchase advance amount remitted will be reduced proportionally and jewellery can be redeemed for the net balance amount.