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Last updated: December 4, 2006
Welcome to INDEX® - Internet Diamond Exchange. Herein please find the INDEX Terms of Service.
- Terms of service
This Terms of Service (“TOS”) comprises of this document as well as the Rapaport Code of Conduct, Diamonds.Net Terms of Use and the Diamonds.Net Privacy Policy. Each part of the TOS forms an integral and inseparable part of the TOS.
- Description of Service:
2.1 INDEX® - Internet Diamond Exchange (hereinafter “INDEX”) is a full service diamond exchange with clearing house, quality control, shipping and foreign exchange and credit services.
2.2 INDEX provides a trading platform for the trading of diamonds, gems and jewelry, access to pricing information, news and other services related to diamonds, gems and jewelry. The information is only for the use of registered Members.
2.3 Any information about diamonds does not provide an appraisal or guarantee of value, nor does it give suggestions or recommendation of any sort with respect to buying or selling of diamonds.
2.4 Diamond grading and pricing is based on subjective methods of analysis and no guarantee is made or liability assumed as to the accuracy or validity of the information provided by the Service or the expertise of those providing information via the Service.
- Listing and trading of diamonds:
3.1 Trading mechanism:
- Members will list diamonds for sale on INDEX.
- All diamond sales/memo transactions will be conducted by INDEX. INDEX will perform all necessary brokerage and clearing house services. INDEX clearing house fees (excluding shipping) are included in the posted prices of all diamonds.
- All diamonds sold/offered on memo must be shipped to the INDEX office closest to the seller for quality control.
3.2 Shipping charges:
The Seller will pay for shipping to INDEX. The Buyer will pay for shipping from INDEX.
3.3 Correct information:
- Clear and accurate information: Members must accurately and as fully as possible describe the diamonds being listed for sale, completing all of the required fields and as many of the optional fields as possible. It is the interests of all Members that clear, accurate information is presented.
- No personal information: No information that identifies the Member or any contact information may be uploaded to the Service. INDEX reserves the right to change/delete any inaccurate information or any information not in accordance with these Terms of Service.
3.4 Listing (uploading) diamond information:
- Users may not list (upload) diamonds with inaccurate, false or misleading information.
- Users must provide accurate information on the availability of their diamonds listed.
- Users must update the pricing and availability information every 14 days.
- Users who violate any of the above provisions will be subject to having their membership revoked and/or be excluded from our network.
3.5 Downloading diamond information:
- Users may allow their diamond listings to be downloaded by other users for disclosure to third parties (on the internet or elsewhere) by setting permissions on their account via this form. The Users’ ownership of the diamonds will not be disclosed. By default, downloading and listing is prohibited until specifically allowed by the User.
- Users may not download diamond listings without having applied for and been granted permission in writing by Index.
- Other Users’ diamond listings may not be downloaded for listing with competitive diamond trading networks.
- Users who violate any of the above provisions will be subject to having their membership revoked and/or be excluded from our network.
3.6 Rights and possession:
Members may only list diamonds for sale which Members are legally entitled to sell and which are in the Member’s possession or easily obtainable by you.
3.7 Treated and Synthetic diamonds:
- Treated and enhanced diamonds (laser drilled, clarity enhanced, irradiated, HPHT) may be listed and traded on INDEX, however full disclosure must be made as to the process and the effect of the treatment. All Users must disclose the treatment when listing the diamond and on the invoice to the purchaser. Should any User be found to have listed or traded such a diamond without such full prior disclosure, their access to the Service will be permanently terminated without notice.
3.8 Kimberley Process:
Only diamonds meeting the Kimberley Process rules and regulations may be listed or traded through INDEX.
3.9 USA PATRIOT ACT:
- In order to comply with the terms of the USA PATRIOT ACT, INDEX may be required to investigate the identity of any User and require Users to submit information and data.
- INDEX is fully compliant with appropriate provisions of the USA PATRIOT ACT.
3.10 Code of Conduct:
Members shall abide by the Rapaport Users Code of Conduct posted on Diamonds.Net. Click here to view Code of Conduct.
- Membership privileges
Non compliance with any of the terms of service may result in the rejection or termination of Membership. INDEX reserves the right to refuse or terminate membership of INDEX at any time for any reason.
- Clearing house
5.1 INDEX will provide complete clearing house services including guaranteeing payment, brokering, arranging for the shipping and insurance of your sale or purchase and quality control services.
5.2 Information provided by the Service is based on diamond grading information uploaded by the Members. Such information may be wrong and thereby result in inaccurate pricing or grading analysis. INDEX provides no guarantee for accuracy of the information listed on the Service by Members, however INDEX trained gemologists will provide quality control services by examining each diamond you buy before it is shipped to you to ensure that the diamond matches the grading report/certificate.
5.3 INDEX quality control services are limited to verifying that the diamond sold matches the grading report/certificate. INDEX provides no other warranty, express or implied.
- Quality control
6.1 After receiving a diamond from the seller INDEX shall confirm that the diamond matches the accompanying grading report and ensure that the diamond is the same as that ordered by the buyer. INDEX shall also provide the same services on behalf of buyers who return memos to the seller.
6.2 Should a diamond not pass INDEX quality control, the diamond will be returned to the seller at seller’s expense.
- Shipping and insurance
7.1 The seller shall be responsible for all shipping and insurance costs to INDEX.
7.2 The buyer shall be responsible for all shipping and insurance costs from INDEX.
7.3 INDEX will insure all diamonds on its premises for full declared value.
- Foreign exchange
All diamond prices posted on INDEX are to be quoted in US$. All transactions are to take place in US$, and payment is to be made in US$. Members making payment to INDEX by means of wire transfers must also include the costs of all necessary wiring and banking charges.
- Credit services
All sales are cash terms, unless otherwise arranged with an INDEX broker. Applications for credit or memo terms are available from an INDEX broker.
- Access to the Service
10.1 Access to the Service is only provided to registered Members. Members must provide, at Member's own cost, all telephone, computer, modem and other equipment and software necessary to access and use the Service and shall be responsible for all charges necessary for such access and use.
10.2 All Members must complete an application request for membership and access to the Service. INDEX reserves the right to refuse or terminate membership. False or misleading information submitted upon registration will result in denial of access to the Service. Registration is only available to members of the trade.
10.3 Access to the service is limited to the registered Member and is not transferable. The Member is responsible for maintaining the confidentiality of the access login and password and may not share it with any third parties.
10.4 INDEX reserves the right to restrict, limit or terminate any or all Services provided to any Member at any time for any reason.
10.5 Access to the Service is conditional on the Member complying with this Terms of Service, the INDEX membership agreement, INDEX members’ code of conduct and any additional policies and rules which will be posted on Diamonds.Net from time to time. The terms of Service are effective from the date posted. All such posted policies or rules are hereby incorporated by reference into this agreement.
10.6 Members not complying may have their membership and access to the Service limited, restricted or terminated without notice.
- The Member agrees not to:
11.1 Use the service in any way that violates the laws of the United States and/or any jurisdiction in which the Member resides.
11.2 Access the service in any unauthorized manner including but not limited to reverse engineering computer code or the underlying logic of the pricing and trading system.
11.3 Access the system for the purpose of copying the software, logic, look and feel, or any features of the system for use in any competitive system.
11.4 Disturb, interfere or disrupt the service, computer hardware or software providing the Service, including automatic downloads of queries via Members computer programs and/or use or access of the service in any manner for which it has not been designed or authorized.
11.5 Upload, post, email, transmit or make available anything that contains computer codes, viruses, files or programs that interrupt, destroy, or limit the functionality of any computer software, hardware or other equipment.
11.6 Attempt or obtain unauthorized access to any part of the Service or computer system.
11.7 Transmit any program or virus through or into the computer hardware or software used or provided by the Service.
11.8 Violate any Trademark, Copyright, agreement, Terms of Service, or Terms and Conditions associated with the Service.
11.9 Use any information provided by the Service or INDEX to establish a competing diamond trading and pricing or information service. This specifically includes the use of INDEX price information as the basis for quoting diamonds as a percentage of Rapaport Diamond Prices on competing diamond trading Networks.
11.10 Misrepresent the information obtained from the Service or alter any document printed from the pages provided by the Service.
11.11 Provide false or misleading information including but not limited to cloaking or altering the information that identifies the source, time and location any contact made with the Service via the Internet.
11.12 Print, save, copy or distribute any of the information provided by the website except for the information provided to the Member in response to requests about prices for diamonds and listing of diamonds.
11.13 Review, copy and/or download any news, analysis, or other information by any news, information or Internet service or company that provides information to the diamond, gem and jewelry trade and/or competes with the information services provided by INDEX.
11.14 Review, copy or download any diamond prices, listings of diamonds for sale, or buy requests for use, including partial or derivative use, in any other website, or trading system available to third parties without written permission from of INDEX.
- Proprietary Rights:
12.1 The Member acknowledges and agrees that the Service, its software, information provided by the Service and the content of INDEX Services contain proprietary and confidential information. The Member agrees not to copy, disclose, or use in any manner information provided by or through the Service.
12.2 The Member recognizes that all information provided through INDEX is copyrighted by INDEX. The Member agrees to respect all intellectual property rights of INDEX. Any copyright, trademark, logo, printed material, on-line information, or price report of INDEX may not be used in any promotion, advertising or publication without the express written permission of INDEX.
- Technical Difficulties:
From time to time technical difficulties may render the service inoperable. INDEX does not guarantee uninterrupted service and accepts no liability for any such interruption. In the event of the Member not using the Service for a period of one year INDEX shall have the right to terminate Membership. After termination of Membership, users will be required to reapply for Membership prior to using the Service.
- Limitations:
14.1 The information provided by INDEX is not a recommendation or suggestion of any kind to buy or sell diamonds; nor is it an appraisal, guarantee of value, warranty, valuation, or offer to buy or sell. INDEX does not guarantee or warrant the accuracy of any information and does not guarantee that any Member will fulfill any obligations made on or through the Service.
14.2 Diamond grading laboratories and the jewelry trade use diamond grading techniques and standards that are based on subjective methods of analysis. Diamond grades may vary each time a diamond is submitted for re-examination and often vary from laboratory to laboratory depending on the grading standards of the laboratory and the accuracy and training of their gemologists. Online pricing and quality information provided by the Service is the result of an automated electronic response system and subject to the limitations inherent to such systems. Furthermore, the online information and the information provided via the telephone Helpdesk is based on the subjective opinions of INDEX, its employees, agents and consultants. No guarantee is made or implied as to the accuracy or validity of any information provided by the Service and/or the level of expertise of any information system or individual providing information via the Service.
- DISCLAIMER OF WARRANTIES:
THE MEMBER EXPRESSLY UNDERSTANDS AND AGREES THAT:
15.1 USE OF THE SERVICE IS AT YOUR SOLE RISK; THE SERVICE IS PROVIDED ON AN “AS-IS” AND “AS AVAILABLE” BASIS. INDEX EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.
15.2 INDEX MAKES NO WARRANTY THAT (I) THE SERVICE WILL MEET THE MEMBER’S REQUIREMENTS, (II) THE SERVICE WILL BE UNINTERRUPTED, TIMELY, SECURE OR ERROR FREE, (III) THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE SERVICE WILL BE ACCURATE OR RELIABLE (IV) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU THROUGH THE SERVICE WILL MEET YOUR EXPECTATIONS AND (V) ANY ERRORS IN THE SOFTWARE WILL BE CORRECTED.
15.3 ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SERVICE IS DONE AT THE MEMBER’S OWN DISCRETION AND RISK AND THE MEMBER WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO THEIR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF SUCH MATERIAL.
15.4 NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY THE MEMBER FROM INDEX OR THROUGH OR FROM THE SERVICE SHALL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS AND CONDITIONS.
15.5 ANY OR ALL WARRANTY IS STRICTLY LIMITED TO THE INDIVIDUAL MEMBER THAT AS REGISTERED AND PAID FOR THE SERVICE. NO WARRANTY OF ANY KIND IS EXTENDED TO ANY THIRD PARTIES.
- LIMITATIONS OF LIABILITY:
16.1 THE MEMBER EXPRESSLY UNDERSTANDS AND AGREES THAT INDEX SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES (EVEN IF INDEX® HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), RESULTING FROM (I) THE USE OR INABILITY TO USE THE SERVICE (II) THE COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY GOODS, DATA, INFORMATION OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH OR FROM THE SERVICE; (III) UNAUTHORIZED ACCESS TO OR ALTERATIONS OF YOUR TRANSMISSIONS OR DATA (IV) STATEMENTS OF CONDUCT OF ANY THIRD PARTY AS THE RESULT OF ANY USE OF THE SERVICE, (V) ANY ERROR IN OR OMISSION FROM THE INFORMATION PROVIDED BY THE SERVICE (VI) AND ALL OTHER MATTERS RELATING TO THE SERVICE.
16.2 INDEX CAN PROVIDE THE INFORMATION AVAILABLE VIA THE SERVICE FOR A RELATIVELY SMALL FEE OR FREE ONLY BECAUSE OF THE LIMITATIONS OF LIABILITY AND WARRANTY EXPRESSED IN THESE TERMS AND CONDITIONS, MEMBERSHIP AGREEMENT. IN ALL INSTANCES
16.3 INDEX DOES NOT ASSUME ANY LIABILITY EXCEEDING AMOUNTS PAID BY THE MEMBER TO USE THE SERVICE.
16.4 INDEX SHALL NOT BE LIABLE FOR ANY LOSS, DAMAGE OR EXPENSE RESULTING FROM ANY ERROR OR OMISSION IN THE INFORMATION PROVIDED BY INDEX OR THE SERVICE OR FROM USE OF THE SERVICE EVEN IF CAUSED BY OR RESULTANT FROM THE NEGLIGENCE OR BONA FIDE ERROR ON THE PART OF ITS EMPLOYEES, AGENTS AND CONSULTANTS OR OTHER FAULT (EXCEPT FRAUD, WILLFUL MISCONDUCT OR GROSS NEGLIGENCE) OF INDEX.
16.5 INDEX DOES NOT GUARANTEE THAT DIAMONDS LISTED ON THE TRADING NETWORK WILL BE SOLD TO ANY OF THE MEMBERS; NEITHER DOES THE SERVICE PROVIDE ANY GUARANTEES OF THE SAID GRADING SUGGESTED BY THE LISTERS OF THE DIAMONDS.
16.6 INDEX DOES NOT GUARANTEE THE ACCURACY OF THE DIAMOND PRICING SERVICE AND GIVES FULL NOTICE THAT RAPAPORT DIAMOND REPORT PRICES ARE BASED ON RAPAPORT’S SUBJECTIVE OPINION OF MARKET PRICES, MARKET CONDITIONS AND THE RELATIVE VALUE OF VARIOUS TYPES, SIZES AND QUALITIES OF DIAMONDS. DIAMOND GRADING, PRICING AND ANALYSIS IS NOT AN EXACT SCIENCE AND IS BASED ON THE SUBJECTIVE OPINION AND ANALYSIS OF THE PERSON PROVIDING THE INFORMATION. WE DO NOT GUARANTEE THE ACCURACY, AUTHENTICITY OR RELIABILITY OF ANY DIAMOND GRADING REPORT OR OTHER INFORMATION BEING PROVIDED BY YOU.
16.7 INDEX EMPLOYEES MAY PROVIDE MEMBERS WITH INFORMATION VIA EMAIL, TELEPHONE OR IN WRITING. THIS INFORMATION IS BASED ON THE SUBJECTIVE OPINION OF THE INDIVIDUAL PROVIDING IT. WHILE WE WILL MAKE EFFORTS TO ASSURE THAT OUR EMPLOYEES, AGENTS, ASSOCIATES AND/OR CONSULTANTS ARE KNOWLEDGEABLE ABOUT DIAMONDS AND DIAMOND PRICES, WE DO NOT GUARANTEE THE ACCURACY, EXPERTISE, EXPERIENCE, BACKGROUND OR KNOWLEDGE LEVEL OF ANY PERSON PROVIDING INFORMATION.
- Exclusions and Limitations:
Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. In those jurisdictions, the disallowed exclusions should be regarded as deleted and severable from the TOS.
- Notices:
Notices to Members may be made via either Email or regular mail. The Service may also provide notices of changes to the terms and conditions or other matters by displaying such notices or links to revised terms and conditions on the Service. Notice to INDEX may be made by registered mail to Rapaport USA, suite 230, 3930 Howard Hughes Parkway, Las Vegas, Nevada, 89109.
- General:
This Terms of Service governs the Members use of the Service. This Terms of Service shall be governed by the laws of the State of Nevada, without regard to its conflict of laws provisions. The failure of INDEX to exercise or enforce any right or provision of the Terms of Service shall not constitute a waiver of such rights or provisions. If any provision of the Terms of Service is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision and the other provisions of the Terms of Service remain in full force and effect. The Member agrees that regardless of any law to the contrary any claim or cause of action arising out of or related to use of the Service or the Terms of Service must be filed within one (1) year after such claim or cause of action or forever be barred. The Section titles of the Terms of Service are for convenience only and have no legal or contractual effect.
- Disclosure of information:
INDEX will provide personal information about Members in response to a valid court order or subpoena or in the event that your actions violate the Terms of Service set out in this document.
- Security:
The Service uses a Secure Socket Layer (SSL) for Internet communications that require enhanced security. All credit card information is obtained and transmitted via the SSL. Access to your INDEX Account is also password protected.
- Definitions
22.1 The term “Service” or “Services” refers to the internet, brokerage and clearing house services provided by the Rapaport Group of Companies.
22.2 The term “Member” or “User” refers to the company applying for or using the Service, as well as its employees, principals and associates.
Links to other important Terms of Services documents:
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