Terms and Conditions - Product Buyback Policy

Eligibility

To be eligible for the buyback program, customers must meet the following criteria:

  • 1. The product must be in good working condition without significant damage or wear.
  • 2. The original proof of purchase (invoice or receipt) must be provided.
  • 3. The return must include all original packaging, accessories, and documentation.

Exclusions

NewJaisa reserves the right to refuse buyback of products that:

  • 1. Exhibit signs of intentional damage or misuse.
  • 2. Do not meet the specified eligibility criteria.
  • 3. Fall outside the stipulated time frames mentioned in this policy.

Buyback Percentage Calculation

NewJaisa reserves the right to refuse buyback of products that:

  • 1. The buyback value is determined as a percentage of the product's original purchase price or the equivalent configuration price (processor, generation, storage, etc.), whichever is lower at the time of participating in the buyback policy.
  • 2. The buyback percentage varies based on the time frame since purchase

Comprehensive Breakdown of Buyback Percentage:

Year 1:
Buyback percentage = max(50%, 100% - (days) * 0.14%)

Year 2:
Buyback percentage = max(20%, 30% - (days - 365) * (10 / 365))

Year 3:
Buyback percentage = max(0%, 20% - (days - 730) * (20 / 365))

Explanation

  • 1. Max(x, y) - This function ensures the buyback percentage never falls below a certain threshold.
  • 2. Days - Number of days since the product was purchased.
  • 3. Percentage values (50%, 30%, 20%, 0%) - These represent the minimum buyback values for each year.
  • 4. Subtractions and multiplications - These calculate the depreciation based on the number of days and the daily depreciation rate.

Table for Understanding:

Year Initial Buyback percentage Min* Buyback percentage Number of Days Formula
1 100% 50% 0 - 365 max(50%, 100% - (days) * 0.14%)
2 30% 20% 366-730 max(20%, 30% - (days - 365) * (10 /365))
3 20% 0% 731-1095 max(0%, 20% - (days - 730) * (20 / 365))

Example Usage:

  • 1. To calculate the buyback percentage after 250 days:Use the formula for Year 1: Buyback value = max(50%, 100% - (250) * 0.14%) ≈ 65%
  • 2. To calculate the buyback percentage after 500 days:Use the formula for Year 2: Buyback value = max(20%, 30% - (500 - 365) * (10 / 365)) ≈ 25.54%
  • 3. To calculate the buyback percentage after 900 days:Use the formula for Year 3: Buyback value = max(0%, 20% - (900 - 730) * (20 / 365)) ≈ 10.95%

Process

  • 1. To initiate a buyback, customers must contact NewJaisa customer support.
  • 2. Customer support will provide detailed instructions on packaging and shipping the product for return.
  • 3. Upon receipt and inspection of the product, the buyback value will be processed as a refund to the original payment method or as store credit, per the customer's preference.
  • 4. Pickup charges and consumable wear-and-tear charges will be applicable.
  • 5. Deductions will be applicable if any damages or any functional defects are found at the time of product inspection
  • 6. The value of the product will be credited only after all the verification process

Disclaimer

  • 1. NewJaisa reserves the right to modify the terms and conditions of this buyback policy without prior notice.
  • 2. The terms outlined in this policy are subject to change, and any updates will be communicated to customers in advance.

Agreement

  • 1. By participating in the buyback program, customers acknowledge and agree to abide by these terms and conditions.