Wholesale Terms

AGREEMENT

When you, the customer, establish a wholesale business relationship with Luminaqua, from now on referred to as the “Supplier,” you are acknowledging your consent and commitment to abide by the terms and conditions outlined in this agreement. This wholesale agreement governs the terms of engagement between you, the customer, and Luminaqua, the Supplier, setting forth the mutual rights, obligations, and responsibilities that define our wholesale business relationship. Please review the following terms and conditions before proceeding with your wholesale purchases and transactions.

• Payment Terms: Luminaqua offers credit terms on gemstone purchases with a net 30-day payment window. Luminaqua reserves the right to cancel or reduce credit at its sole discretion and refuse future credit sales.
• Invoice Review: Customers must review each invoice sent by Luminaqua immediately upon receipt. Any discrepancies or disputes must be reported in writing within 15 days of invoice receipt, along with a detailed written explanation. Failure to do so constitutes a waiver of any claims related to such discrepancies.
• Interest Charges: A monthly interest charge of 2% will be applied to all unpaid amounts 30 days after the due date, both before and after judgment, continuing each month until paid in full.
• Collection Costs: In the event of default, the customer agrees to pay all collection costs, including fees of any collection agency and attorney’s fees, whether hourly or contingent.
• Changes to Terms: No changes to these terms and conditions are valid unless made with written consent from Luminaqua.

MINIMUM ORDER REQUIREMENTS

Luminaqua may specify minimum order requirements, and customers must adhere to these requirements when placing orders.

RETURNS

• Return Process: All returns must be requested in writing directly to Luminaqua’s Head Office within seven days of the delivery date. Requests must include the invoice number and reasons for the return. Returns without prior approval and delivery instructions are not acceptable.
• Restocking Charge: A 20% charge applies to goods returned as ‘unsuitable.’

PAYMENT METHODS

Luminaqua accepts payments via credit card, electronic invoices, and bank transfers.

SHIPPING

• Shipping & Handling Costs: Shipping and handling costs are not included in the price of goods. A freight charge of 7% of the invoice total, with a minimum amount of $75.00, will be applied to all orders.
• Unclaimed Shipments: Luminaqua is not responsible for storage fees or issues arising from unclaimed shipments held for more than 15 days after receipt.

GEMSTONE QUALITY AND INSPECTION

Customers are responsible for inspecting gemstones upon delivery and promptly reporting quality issues.

GEMSTONE SPECIFICATIONS

Gemstone specifications, including materials and sizes, are provided by Luminaqua and should be reviewed by customers before purchasing.

GEMSTONES AVAILABILITY

Out-of-stock items will be back-ordered and indicated on the invoice. If back-ordered items are available during your next order, they will be added without duplication.

CANCELLATION AND RETURNS

• Order Cancellation: Orders can be canceled before shipment. After shipment, the standard return policy applies.
• Restocking Fees: A 20% restocking fee applies to returned goods.

TERMINATION OF WHOLESALE AGREEMENT

Either party can terminate this wholesale agreement under specific conditions. The termination process should be followed as outlined in the contract.

CONFIDENTIALITY

Customers cannot use confidential pricing quotes or invoiced amounts provided by Luminaqua to further their or anyone else’s business, whether or not in competition with Luminaqua.

FORCE MAJEURE

Neither party shall be liable for delays or failures in performance caused by events beyond their control, including but not limited to natural disasters, strikes, or government acts.

EXCLUSIVITY

Exclusivity arrangements, if applicable, will be detailed separately in a mutually agreed-upon document.

INSURANCE

Customers may be required to maintain insurance coverage related to the gemstones they purchase, as specified by Luminaqua.

LIABILITY LIMITATION

Luminaqua shall not be liable for indirect, incidental, consequential, special, or punitive damages arising from the sale or use of gemstones.

GOVERNING LAW

These terms and conditions are governed by the laws of the United States of America.

DISPUTE RESOLUTION

Any dispute arising out of or relating to these terms and conditions or the sale of any gemstones shall be resolved through binding arbitration by the Commercial Arbitration Rules of the American Arbitration Association.

NOTICE AND COMMUNICATION

Formal notices and communication between the parties shall be conducted in writing and sent to the contact information provided by both parties.