Payment Procedures
Silver Prototypes
- Via our standard development procedure we will we will first develop a silver prototype of your piece. For more information please see our Jewelry Prototyping section. We require all prototypes to be paid up front in full. There are no exceptions to this policy.
Gold Prototypes
- Occasionally time does not permit a customer to go through our normal procedure of manufacturing a silver prototype first before a final gold version is made. In this manner, gold prototypes and single piece orders will be paid up front as a deposit for production, utilizing the metal weight estimates quoted on the invoice.
- On completion of the prototype, the invoice will be adjusted to reflect the actual metal usage. If there is a discrepancy between the initial estimated metal weight, and the final metal weight we will either refund or collect (depending if we are over or under the amount of metal quoted) the remaining amount on your receipt of the prototype.
Production Orders
- Once the prototype model has been accepted, a contract will be drawn for final production depending on your specific project. Generally goods will be delivered FOB.
- Customer will be required to either pay a deposit for production or obtain an L/C to guaranty payment.
Small Orders
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Sometimes customers require us to produce additional samples for promotional purposes or otherwise simply require a very small order to be made. As our quotations generally reflect our prices for production orders we have an additional surcharge that usually applies to very small orders.
LQS Surcharge (Low Quantity Surcharge)
Typically for example if you need to place an order under $500 of a style for additional demonstration purposes, there will be a 30% surcharge on the net price. This also depends somewhat on the value of the pieces ordered and value of the total order; (the LQS surcharge may be less then is written below, but will never be more). Follows are our general indicative surcharges.
- Less than $500 : 30% Surcharge
- Over $500 but less than $1000 is 20%
- Over $1000 but less than $2000 is 10%
- Over $2000 but less than $3000 is 5%
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Methods of Payment & Terms
TT (Wire Transfer)
- This is our preferred method of payment for prototypes. Details are provided at the bottom of our invoices.
Check/Money Order
- We do accept personal or corporate checks; however we will not begin production until after the checks have cleared. This can sometimes take up to 5 business days.
- Checks or money orders must be made payable in US dollars.
Credit Card
- We accept Visa & MasterCard through our company merchant account; however we cannot process transactions larger then 2,000 US dollars via this method.
L/C (Letter of Credit)
- L/C’s are sometimes utilized for larger orders with first time customers.
- Cost of L/C is the responsibility of the buyer
- By this method we accept the bank’s guaranty to pay us on conclusion of sale terms instead of a personal guaranty from our customers. Any international bank would be happy to explain in further detail as well as offer their rates for such a transaction. We recommend Citibank for this service.
- Following is a short description of the Letter of Credit process for people who are not entirely familiar with it:
- Letters of credit serve as a guaranty of payment from buyers to suppliers. They must be initiated by the party wishing to make payment for goods or services. This can be done through any international bank.
- After a letter of credit from a bank has been issued, the supplier sends the goods to the customer. (No payment is made for the goods before the goods are received and terms of the letter of credit are met).
- Once the terms specified in the letter of credit have been met, the bank pays the supplier the amount owed.
- Later the customer pays back the bank in terms the customer has agreed to with the bank. Typical fee’s can vary, but usually the bank will charge a flat fee for issuing the letter, as well as interest on the loan to the customer until the loan is paid back. The exact terms will vary based on whichever bank you use.
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