TERMS AND CONDITIONS

 

  1. INTRODUCTION

1.1 We operate the website www.pragmavaluables.com (the "website"). We are PRAGMA LLC, a company registered in the Republic of Latvia under company number 40203136893 with legal

address            Babites nov., Babites pag., Brivkalni, Dambju iela 2, LV-2107 and address of

correspondence Riga, Grecinieku street 30-702, LV-1050 ("we", "our", "us" or "pragmavaluables.com").
1.2 If you wish to contact us, including because you have any complaints, you can contact us by e-mailing us at legal@pragmavaluables.com.

1.3 If you are a consumer then references in these terms and conditions (the "Terms") to "you" are to the individual using our website and purchasing the products detailed on our website for private and non-commercial purposes.

1.4 These Terms (together with our Privacy Policy and Terms of Website Use) tell you information about us and the legal terms and conditions on which (1) the Products are sold to you, (2) you can sell with us, (3) you can use other services provided by us, including, but not only professional consultations. The Terms, Privacy Policy and Terms of Website Use are together the "Agreement".
1.5 Please read these Terms carefully and make sure that you understand them, before ordering any Products. Please note that by ordering any Products in accordance with section 2 or providing us with any Products for the sale of those Products in accordance with section 6, you agree to be bound by these Terms and the other documents expressly referred to in them.

1.6 You should print a copy of these Terms for future reference.

1.7 We amend these Terms from time to time. Every time you wish to order Products, please check these Terms to ensure you understand the terms which will apply at that time.
1.8 In these Terms:

1.8.1 "Buyer" means a purchaser of a Product on the website from us;

1.8.2. “Seller” means the seller of a Product.

Note: If not otherwise stated, Sellers are not disclosed to Buyers, and vise versa.
1.8.2 "Customer Account" means a customer account for Buyers which has been opened by you through our website in respect of the Products. For Sellers there shall be a specific possibility to login and link Products to their login;

1.8.3 "Order" means an order for a Product placed on the website;

1.8.4 “Product” means modern and antique jewelry, loose diamonds, antiquities, luxury wrist watches, contemporary and vintage luxury handbags, post war and contemporary pictorial art, interior and décor objects and other valuables;

1.8.5 "VAT" means Value Added Tax;

1.8.6 a person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality);

1.8.7 a reference to a party includes its successors or permitted assigns;

1.8.8 a reference to a statute or statutory provision is a reference to such statute or statutory provision as amended or re-enacted. A reference to a statute or statutory provision includes any subordinate legislation made under that statute or statutory provision, as amended or re-enacted;

1.8.9 any phrase introduced by the terms including, include, in particular or any similar expression, shall be construed as illustrative and shall not limit the sense of the words preceding those terms; and

1.8.10 a reference to writing or written includes e-mails.

 

 

 

  1. SALE PROCESS

2.1 All users of the website will be asked to register on the website by providing certain identification and contact information as listed on the registration process, for example, name, email address, phone number and address, and create a username and password.
2.2 You must use all reasonable steps to keep your username and password confidential, and must inform us if you suspect or discover that your username or password have become known to someone else.

2.3 You shall use your account to purchase the Products in accordance with the process outlined on our website.

2.4 For Products purchased:

2.4.1 we will deduct payment for the product from a Buyer's account when the Buyer submits their payment details on the website and purchases the Product;

2.4.2 an automatic notification email is generated by the website to us once a Product is sold and has been paid for (the "Confirmation Email") which includes the Buyer's address in order for us to arrange delivery;

2.4.3 in the event that we are unable to obtain authorization for payment, we reasonably believe a transaction is fraudulent or you do not meet the eligibility criteria set out within these Terms then an Order may be refused;

2.4.4 once payment can be processed, we will deduct the applicable commission plus VAT if applicable before transferring the balance of the sales proceeds to the Seller's nominated account.

2.4.5. PRAGMA reserves the right to request from the Buyer additional information regarding enhanced identification methods, provenance of funds involved in the transaction, including, but not limited to original identification hard copies, bank and financial statements, employment documents, documents regarding revenue and source of funds in order to prevent money laundering and terrorism and proliferation financing. In case of non-compliance with PRAGMA’s requests in regard of this sub-section 2.4.7., any transaction may be suspended and cooperation terminated permanently without additional explanations.

 

  1. THE PRODUCTS AND PRICING

3.1 The prices and Products displayed on the website are subject to change and may be changed at any time and without notice to you provided that if a Buyer places an order for Products through the website the price the Buyer will pay for the Product(s) will be the price displayed at the time the offer was made, as appropriate, except for where the price displayed was incorrect and that pricing error was obvious and unmistakable. The prices displayed on the website at any moment are only valid at that moment.

3.2 Prices shown on the website are in EUR and are inclusive of VAT in accordance with the categories of Products and at the applicable rate, however other taxes imposed by the applicable governmental authority may apply, including import duties and taxes.

3.3 The price of a Product does not include shipping costs or any relevant handling, import duties and taxes. Shipping costs are as shown on the Product detail page. Please see section 4 below for more information on delivery.

3.4. Please note that the description and composition of the Products listed on our website are compliant with the opinion of our experts, as concluded during the authentication and screening process before placing the Products on our website.

 

 

  1. DELIVERY OF THE PRODUCTS

4.1 Shipping costs will apply to your Order. These costs will be displayed prior to payment being taken. Any other charges applicable to an Order will also be displayed prior to payment being taken, excluding import duties and taxes. Any shipping costs displayed do not include any relevant import duties or taxes.

4.2 We ship within 7-10 business days after receiving payment if the Product sold is located in the Republic of Latvia. In case if the Product is located in a different country, PRAGMA will receive the Product from its owner, conduct additional expertise if needed and send it to the Buyer (this process might take 4 – 8 weeks). Every shipment will be packed professionally and we ship worldwide. Tracking numbers are also emailed as soon as packages get shipped. The items are shipped using services of our logistic partners  and each package is fully insured.

4.3 Occasionally delivery to a Buyer of a Product may be affected by an Event Outside Our Control, please see section 18 for further details of Events Outside Our Control. However, Products being insured, shall give us the opportunity to send money back to the Buyer in case the Procut is not delivered to the Buyer. Dates and times given for delivery are estimates only and we shall not be liable for any delay in delivery.

4.4 If a Buyer orders Products from our website for delivery internationally, the Order may be subject to import duties and taxes which are applied when the delivery reaches that destination. Please note that we have no control over these charges and we cannot predict their amount. Buyers should check whether they are liable to pay import duties and taxes prior to purchasing any Product(s).
4.5 The Buyer will be responsible for payment of any such import duties and taxes. Buyers are advised to contact their local customs office for further information before placing an Order.
4.6 Buyers must comply with all applicable laws and regulations of the country for which the Products are dispatched and for which they are destined. We will not be liable or responsible for a Buyer's breach of any applicable law.

4.7 Buyers shall be responsible for providing us with up-to-date contact details in the Customer Account.
4.8 For bulky and high value items, shipping costs may be adjusted once the final quote is received from our logistics partners.

 

  1. RIGHT TO CANCEL AND RETURNS

5.1 Only in cases specified in section 5.2. the Buyer may cancel an Order within 14 days of date of receipt of the Product(s) and all items should be returned unworn, in their original packaging and in the same condition as shown and described in the photographs and description of the listings on the website, within 14 days of such cancellation directly to us.

5.1.1. Unless otherwise stated in the Product’s page, none of the Products purchased shall be returned back to us. Mainly because products shown on our website are either used, either according to their form, purpose of use or other circumstances, cannot be returned. Please also note that in case the Buyer is not a consumer – natural person, the Buyer has no rights of returns and rights of returns are showed on the website only for natural persons – consumers.
5.2 In cases, where Products are shown on the website as subject for returns, the Buyer will then be refunded the total amount paid for the Product(s) which are being returned within 14 days of receipt of the returned Product(s). Please note that prior the refund, PRAGMA may review the Product and its conditions, and refund the money to the Buyer only when the PRAGMA has concluded that the said Product complies with this agreement, but not earlier than in 7 business days. Any refund must be arranged directly with the PRAGMA prior to the return.

5.3 To cancel an Order, a Buyer is required to let the PRAGMA know that he/she wishes to cancel.
5.4 We may make a deduction from the reimbursement to a Buyer of the diminished value of the goods if the Product(s) are not returned in the same condition as shown and described in the photographs and description of the listings on the website and/or are not returned in their original packaging.

5.5. Due to the specific category and value of items sold at our marketplace, it involves significant amount of work and procedures to be followed to receive export permits, thus shipping costs and authenticity costs in case of return (if return is applicable) therefore are fully covered by the buyer. If the return is related to authenticity of items, the PRAGMA bears these costs in case such conclusion of non-authentic Product has been made by the PRAGMA.

 

  1. CONSIGNMENT - SELL WITH US

Registration process, communication and acceptance of Products

6.1 We offer to sell with us your Products, to which you are either a legal owner or a representative to sell products on behalf of their owner. Such sale shall be performed on a consignment basis.

6.2 Notwithstanding the registration process, you as a Seller shall be asked to provide certain information to us prior the Products will be delivered to us, including, but not only – title and description of the Products, legal ownership rights, provenance of the Products (including receipts), pictures, etc. If you represent a legal person, then additionally documents evidencing legal representation rights and articles of the association shall be provided to us. Please note that in case any of the Products and our relationships are subject to any of laws and regulations of anti-money laundering and terrorism and proliferation financing, additional information might be requested electronically and in original hard copy form.

6.3 After provision of the information requested, our authentication team will process, assess and evaluate information provided and either Accept, either Reject Products for further processing. Desirable price provided by you will be at all times additionally communicated in case the PRAGMA’s authentication team considers that the desirable price provided by you is unreasonably below or above the market price.

6.4 When you will receive an acceptance notice from PRAGMA, you shall send the Products to the address provided to you and with the requirements for shipment explained to you. This shall be done after a successful sale of the Products (see section 6.14.of these Terms). Any costs for the shipment of the Products to us and for the authentication process of those Products shall be paid by the Seller priorly, however the PRAGMA shall repay shipping costs together with the final transferrable price to the Seller only if the PRAGMA determines that sections 6.5. and 6.6. are fulfilled. The seller will be issued additionally with authentication procedure invoice. The authentication procedure costs are non-refundable and their costs are as follows: Diamond authentication 30EUR, Jewelry 45EUR, Watches 45EUR, Handbags: Hermes 230EUR, other brands 45EUR.

6.5 All Products received from you shall be screened by PRAGMA’s authentication team prior to being set live on the platform. Our team shall evaluate, in its sole discretion, authenticity, quality, and value. This process shall take up to 14 (fourteen) business days or longer depending on the number of items and complexity of the item and additional exchange of information between PRAGMA and you. We shall not store Products on our website prior performance of our duties set in this section.

Note: Please note that the pictures of Products you send to us (Section 6.2. of these Terms), shall reflect the same condition, form, composition, color and other described positions of the Products at your application, as when we will receive the Products physically. Thus, the Products shall be in the same and exact condition, form, composition, color and other related positions, as they were shown in the Pictures sent to us previously. In this regard, please at all times make sure to review the pictures you send to us, especially if they were post-processed before uploading them on our website.

6.6 PRAGMA accepts only Products, which are authentic, in an excellent condition and that the PRAGMA determines as authentic and for which the representations and warranties you make in accordance with section 6.16. of these Terms are true.

6.7 Products that do not meet above requirements will not be accepted and will be either (1) returned to you at your expense or (2) with your approval, confirmed in writing, the PRAGMA will donate your items to a charity of its choice. In case you have not requested to return the Products or have not confirmed in writing that PRAGMA can donate your items to a charity of its choice, and if such request (in case of return) or written statement (in case of donation) has not been made within 7 (seven) business days after first notice sent from PRAGMA to you regarding the non-compliance of the Products with the above requirements, it shall be considered that you have relinquished the Products through abandonment and the ownership of Products accrues to the PRAGMA after such 7 (seven) business days period. In such event you shall not have any rights to receive back any of such Products further. Please be informed that in case you have requested to return the Products to you and the PRAGMA within 7 (seven) business days is unable after using commercially reasonable efforts to contact you afterwards at the email or by physical address it has on file for you, it shall be considered that you have relinquished the Products through abandonment and the ownership of the Products accrues to the PRAGMA.

6.8 You are responsible for ensuring the authenticity of all Products you provide to us. PRAGMA has the right in its sole discretion to refuse to accept the Products and send them back to the Seller on the cost of the Seller in the following cases:

6.8.1. if the PRAGMA cannot confirm the authenticity of any item of Products you have provided.

6.8.2. if the Products do not comply with Section 6.5. (including the Note under that section 6.5.) of these Terms;

In the event of section 6.8.1. and/or section 6.8.2., the PRAGMA will issue an invoice to the Seller covering the shipping costs and (if applicable) costs to receive an additional export permit for the return. Only when the Seller has paid the shipping costs and (if applicable) costs regarding the export permit, and when the PRAGMA has received the money in the bank account, PRAGMA shall send the Products back to the Seller.

Note: You acknowledge and agree that any item the PRAGMA finally determines to be counterfeit will not be returned to you and will be destroyed or provided further to investigation and law enforcement authorities.

6.9 You acknowledge and understand that the PRAGMA is subject to laws and regulations relating to claims that consigned items are counterfeit, have been stolen, or otherwise violate applicable law. The PRAGMA takes such reports seriously and will cooperate with law enforcement in all investigations.

6.10 You are responsible to provide to the PRAGMA not later than in 2 (two) weeks after a succesful sale fact (section 6.4.of these Terms) any and all export permits regarding the Products to be delivered outside your country or the country where those Products are currently located. Such export permits will be asked to be sent, firstly, by e-mail and afterwards to be attached to the Products when we will organise shipping of those products.

 

Consignment and return

6.10 At any time you may request in writing that the PRAGMA returns the Products, so long as the items have not already been sold. Once the PRAGMA receives your return request, it will use commercially reasonable efforts to remove the item from www.pragmavaluables.com and from any of our retail store locations, if applicable, before it is sold. It is your responsibility to ensure that the PRAGMA has your most current contact information and mailing address. In case Products are subject of return from the Buyer, the PRAGMA will let you know and you agree that such products shall be subject of return in accordance with section 5 of these Terms.

6.11 Return of Products according to the section 6.10. shall usually take up to 4-8 weeks. In case of delays the PRAGMA will notify you, but will perform all reasonable steps to comply with the term set in this section.

6.12 There are no additional fees to be charged to you upon the return of any of Products, except shipping and handling costs, which shall be paid by you prior such shipment. The PRAGMA shall have no obligation to return the Products to you unless and until you pay the PRAGMA the costs of shipment and handling prior to shipment.

 

Sale price, commissions and payments, shipping

6.13 Below are the following fees and commissions applied to you as the seller:

6.13.1 Reserved price – the initial mutually, between PRAGMA and you, agreed price of the Products, which will be displayed on the website (excluding shipping price and excluding any applicable taxes and payment commissions, which will be added thereafter and are included either in the 13% or 18% commission rate).

6.13.2 Pragma shall add in the Product’s listings on the website additional price of 13% to the Products sold by natural persons and price of 18% to the Products sold by legal persons. Such price shall be considered as the commission withheld by the PRAGMA, thus the Seller shall receive back at all times the Reserved price as agreed. PRAGMA’s commission shall be deducted after a successful sale of any of the Products listed. For the sake of clarity, if the Reserved price initially agreed by you is EUR 100,00 (one hundred euros), PRAGMA has the right to list the Product for the amount of EUR 113,00 (one hundred and thirteen euros) (in case you are a natural person) or of EUR 118,00 (one hundred and eighteen euros) (in case you are a legal person), which means that the commission to be withheld by the PRAGMA is EUR 13,00 (thirteen euros) or 18,00 (eighteen euros), whichever applicable.

6.14 After a successful sale, the PRAGMA will transfer to the Seller the final transferable price (taking into consideration our commission) to the Seller’s bank account in 14 (fourteen) business days, but not earlier than prior receival of the sold Products from the Seller himself/herself and performance of the duties mentioned in the section 6.5. of these Terms. However, if any of the Products are a subject of return according to section 5 of these Terms, the PRAGMA will transfer to the Seller the final transferable price only after the Buyer has not requested to return the Products in accordance with section 5 of these Terms.

 

Title of the Property, ownership

6.15 You will continue to own and have title to each item of the Products until that item is Sold by the PRAGMA to a customer (Buyer).

 

Representations and warranties, indemnification

6.16 By submitting your request to sell Products with us, you represent that you are the owner of the Products that you are inquiring about, that you own the Products free and clear of any claims, liens, encumbrances or interests of others and that the Products can be offered freely in the international Product’s market. If you are interested in consigning your Products to the PRAGMA, please be aware that you are responsible for complying with any local export or import laws, including obtaining at your own expense any and all certificates/rights to export such Products outside from country where Products are stored.

 

Transfers to private sale agreement due to large amounts

6.17 We might ask Sellers at our sole discretion to transfer to private sale agreements due to large amount of Products or in cases of a large value of an item. Such private sale agreement shall also give you opportunity to use additional authentication, certification and legal services.

 

 

  1. RESTRICTIONS ON YOUR USE OF THE PRODUCTS

You must be at least 18 years old and legally capable of entering into binding contracts in order to purchase or sell any Product(s), or to receive an on-demand consultations, or to use other services provided by the PRAGMA.

 

  1. RISK AND TITLE

8.1 The title to any Product(s) ordered through our website shall transfer to a Buyer upon our

receipt of full payment for such Product(s).

8.2 Risk in the Products shall remain with the Buyer from the time of delivery.

 

  1. PAYMENT AND CHARGES

9.1 We accept payment through all major credit and debit cards, bank transfers and PayPal, and Stripe.

9.2 The charges for the Products are set out in the Confirmation Email and/or Order Acceptance in the website.

9.3 Payment for the Products and all applicable shipping costs are in advance.

 

  1. FAILURE TO PAY THE CHARGES

We reserve the right to suspend or close any Customer Account or otherwise restrict access to our website and the Products if you fail to pay any charges due to us by you under this Agreement immediately when such payment becomes due.

 

  1. LIMITATION OF LIABILITY

11.1 we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity;

11.2. if we fail to comply with the Agreement, we are responsible for loss or damage you suffer that is a foreseeable result of our breach of the Agreement or our negligence, but we are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if it was an obvious consequence of our breach or if it as contemplated by you and us at the time we entered into the Agreement;

11.3 subject to section 11.2, our total liability in respect of the Products or any breach of this Agreement, whether in contract, tort (including negligence), breach of statutory duty or otherwise, including loss or damage during collection, storage or return, shall not in any event exceed the value of the relevant Order;

11.4 Except as set out in this Agreement, all warranties, conditions and other terms implied by statute or law are, to the fullest extent permitted by law, excluded from the Agreement. In particular, we will not be responsible for ensuring that the Products are suitable for your purposes.
11.5 This section 11 shall survive termination of the Agreement;

11.6 We are in no way liable for any off-site transactions, negotiated and completed outside our terms and conditions.

 

  1. HOW WE USE YOUR PERSONAL INFORMATION

We process your personal data as stated in our Privacy policy.

 

  1. OUR RIGHT TO VARY THESE TERMS

13.1 We may revise these Terms from time to time.

13.2 Every time you place an Order, the Terms in force at that time will apply to any corresponding Order.

 

  1. OBLIGATIONS

14.1 You shall:

14.1.1 ensure that the information you include in your use of the website is complete and accurate; and
14.1.2 ensure that you only purchase or sell Products if you are at least 18 years old.

 

  1. TERMINATION

15.1 We may terminate this Agreement with immediate effect by notice in writing to you if:
15.1.1 you fail to pay any amount due under this Agreement, including any interest accrued, by the date due; or

15.1.2 you are in breach of any term of this Agreement.

 

  1. CONSEQUENCES OF TERMINATION

16.1 Upon termination of this Agreement for any reason:

16.1.1 you shall immediately pay to us all of our outstanding unpaid invoices and interest;

16.1.2 the accrued rights, remedies, obligations and liabilities of each party as at expiry or termination shall not be affected, including the right to claim damages in respect of any breach of the Agreement which existed at or before the date of termination or expiry; and

16.1.3 sections which expressly or by implication have effect after termination shall continue in full force and effect.

 

  1. CONFIDENTIALITY

Each party shall keep in strict confidence all information which is of a confidential nature and which has been disclosed by one party to the other party. This section 17 shall survive termination of this Agreement.

 

  1. EVENTS OUTSIDE OUR CONTROL

18.1 We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under this Agreement that is caused by an Event Outside Our Control. An Event Outside Our Control is defined below.

18.2 An "Event Outside Our Control" means any act or event beyond our reasonable control, including without limitation strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, snow, flood, earthquake, subsidence, epidemic or other natural disaster, failure of public or private telecommunications networks, impossibility of the use of motor transport or other means of public or private transport, road traffic accidents, road closures or mechanical failure.

 

  1. NOTICES

19.1 Notices to you

19.1.1 Any notice given by us to you under this Agreement must be in writing and may be served by e-mail, by personal delivery to the person notified or its address, or by prepaid post.
19.1.2 Your address for service of notices shall be your e-mail and/or postal address specified in your Customer Account or any other address which you have previously notified to us in writing.
19.2 Notices to us

19.2.1 Any notice given by you to us must be in writing and maybe served by personal delivery, by pre-paid post or by e-mail.

19.2.2 Our address for service of notices shall be our correspondence address set out in these Terms.
19.3 A notice will be served at the time of personal delivery or at the time the e-mail was sent by the sender, provided that the sender of the email does not receive an e-mail message stating that the email message has not been received by the intended recipient.

19.4 You will inform us in writing of any changes to your billing details, contact details, alternative contact details, authorized persons, insurance details or access details stated in your Customer Account.

 

  1. ASSIGNMENT AND SUB-CONTRACTING

20.1 We may at any time assign, transfer, mortgage, charge, subcontract or deal in any other manner with all or any of its rights under this Agreement and may subcontract or delegate in any manner any or all of our obligations under this Agreement to any third party or agent.
20.2 You shall not, without our prior written consent, assign, transfer, mortgage, charge, subcontract, declare a trust over or deal in any other manner with any or all of its rights or obligations under this Agreement.

 

  1. OTHER IMPORTANT TERMS

21.1 All intellectual property rights in or arising out of or in connection with the Products shall, as between you and us, be owned by us.

21.2 These Terms are only available in the English language.

21.3 If any of these Terms conflict with any terms of an Order, the Order will take priority.
21.4 If you are a consumer, you have legal rights in relation to the Products. Advice about your legal rights is available from our local Consumer’s rights protection authority. Nothing in these Terms will affect these legal rights.

21.5 If you are a consumer, please note that the Agreement is governed by the laws and regulations of the Republic of Latvia. This means an Agreement for the purchase of Products and any dispute or claim arising out of or in connection with it will be governed by the law of the Republic of Latvia. You and we both agree that the courts of the Republic of Latvia will have exclusive jurisdiction in connection with any such dispute or claim.

21.6 If you are a business, the Agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of the Republic of Latvia. You and we both irrevocably agree that the courts of the Republic of Latvia shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with the Agreement or its subject matter or formation (including non-contractual disputes or claims).

 

  1. AUTHENTICITY OF GOODS

22.1 All listings are screened by PRAGMA Approval team prior to being set live on the platform. 22.2 Buyers are always encouraged to ask any questions prior to purchase by contacting PRAGMA. All payments for purchased items, are made directly to PRAGMA.

 

  1. ON-DEMAND CONSULTATIONS

23.1 Anyone visiting our website has a possibility to subscribe for on-demand consultations provided by us regarding buying and selling valuables, as well as image styling and interior decoration advices.

23.2 Date and time for every type of consultations will be shown during the registration process.

23.3 You will be asked to provide your identification and contact information, as well as execute a pre-payment for the consultation chosen. The amount of the price for one consultation shall be displayed on our website. All payments for on-demand consultations are made directly to the PRAGMA.

23.4 After the payment for the consultation and on the basis of the type of the consultation chosen, in 1 to 3 business days you will receive a Zoom invitation from us.

23.5. There shall be no refunds in regard of on-demand consultations, unless it has been mutually agreed within you and PRAGMA.