The following are Billing System Rules mentioned in Clause 3 of the Terms and Conditions of Use of this Site.

1. Fees
2. Invoicing
3. Payments
4. Credits and Refunds

1. Fees

:: Fees only apply to Sellers ::

At investment diamonds you can register, browse, search, bid on or buy items at any time, and with no charge. However, as a Seller when selling an item, you will be charged a Success Fee on successful sales only and in some cases a Listing Fee (e.g Priority Listing Fee).

1.1. Listing Fees

1.2. Success Fees

The Success Fee only applies if you successfully sell an item on investment diamonds. You will be charged a Success Fee based on the Winning Bid Amount for your item(s).

Standard Auctions

See the Fee Rate Card for detailed information on these fees.

Buy Now Items

If an item is purchased using the Buy Now function at the Buy Now Price, for the purpose of calculating the Success Fee this Buy Now Price corresponds to the Winning Bid Amount of a Standard Auction. Success Fees for Buy Now Items are therefore calculated in the same manner as Success Fees for Standard Auctions. Buy Now Items are only available to Verified Users

Personal Offer Items

As a seller you may optionally make offers to your runner up bidders at the amount they bid. If an item is purchased using the Second Offer function you will be charged a Success Fee based on the Second Offer Price corresponding to the Winning Bid Amount of a Standard Auction. Second Offer Items are only available to previous bidders on closed auctions as an offer initiated by the seller for a certain period no more than one month after the close of the item.

Items that are sold to runners-up

In the event the item is sold to the runner-up because the winning bidder defaulted, the Success Fee will be calculated using the Bid Amount of the runner-up's bid.

Here is how the Success Fee will be calculated:

• If your item sold , your Success Fee is simply 6% of the Winning Bid Amount.
• If you are a Power Seller or a Verified User, then the Success Fee will be 5% of the Winning Bid Amount.
  

Examples:

• If you are a normal seller and your item is sold for R150.00 then the Success Fee will be 6% of R150.00 - i.e. R9.00.
• If you are a Power Seller or Verrified User and your item is sold for R150.00 the the Success Fee will be 5% of R150.00 -i.e. R7.50

2. Invoicing

You will be invoiced once a month, on the first working day of every month, for the activity on your investment diamonds Account over the past month. An Electronic Tax Invoice/Statement will then be emailed to you.

You can view your investment diamonds Account status at any time by accessing your investment diamonds Account in the Member's area on the site.

3. Payments

There are two options for paying your investment diamonds fees:

3.1. Using your credit card on file.
3.2. Bank Debit Order.

IMPORTANT - By registering as a seller on our site you give investment diamonds permission to charge/bill/deduct any fees or amounts owed from your nominated bank account or credit card registered on the site.

Your credit card or bank account will be automatically charged / debited within 14 days of your Tax Invoice/Statement being issued.

You are responsible to ensure that there are sufficient funds for payment of your investment diamonds Account every month. It is therefore your responsibility to check your current investment diamonds Account balance from the Member's Area and request a Tax Invoice/Statement if necessary.

We require payment in full each month on investment diamonds Accounts. Failure to make a payment, causing your investment diamonds Account to become overdue, will result in your investment diamonds Account incurring extra charges. If your account is disabled or blacklisted due to non-payment, we reserve the right to charge a Re-activation fee of R50. Overdue investment diamonds Accounts will be charged interest at the current Nedbank Limited Prime interest rate from time to time and you could also be made liable for any legal fees incurred by investment diamonds on the attorney and own client scale including collection commission and tracing costs incurred. Your permission to sell on investment diamonds may be suspended for non- or part-payment of fees.

User to User Transfers - Not Available currently

If your investment diamonds user account has a credit balance you may use this to make payment or part payment to another investment diamonds user on our system. As a seller User to User Transfers received will be used to offset against any fees owing to investment diamonds.

4. Credits and Refunds (including SNC's - Sale Not Completed)

Credits are applicable for Success Fees only (Listing Fees and Enhanced Listing Fees are non refundable), and may be issued at the discretion of investment diamonds in the following cases:

• The Buyer has not responded to your attempts to contact them during a period of 7 days after the end of the auction or buy now sale.
• The Buyer does not fulfill the deal (this includes the Buyer backing out or not paying, having a financial or family emergency, or claiming that the terms of sale are unacceptable).
• The Buyer's payment fails (this includes the Buyer's cheque bouncing or the Buyer stopping payment going through for some reason).
• The Buyer returns the item and you refund the money.
• The actual sale price is lower than the highest winning bid amount.
• One or more of the Buyers back out in a multiple quantity auction or buy now.
• The item is sold to the runner up because the winning bidder defaulted.

Credits can only be claimed 7 days after the close of the auction or buy now sale, and no later than 60 days after the close of the auction or buy now sale. Before you can claim a credit, you must have attempted to contact the Buyer at least 3 times via email. (We may request you to forward these emails to us at any time, so please save copies of them.) To claim a credit, you will need to use the File a SNC Alert Wizard. Please Note - should you retract an SNC Alert you are still liable for paying the Success Fees for that particular transaction as we then deem the transaction to have been concluded or payment received.

If your credit request is successful, a credit will be made to your investment diamonds Account within 14 days of your credit request being approved. A refund can then be requested. Refunds will not be given for any complimentary credits to your investment diamonds Account.