Buy-Back Policy

Terms and Conditions - Product Buyback Policy

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

  • The product must be in good working condition without significant damage or wear.
  • The original proof of purchase (invoice or receipt) must be provided.
  • The return must include all original packaging, accessories, and documentation.
Exclusions - NewJaisa reserves the right to refuse buyback of products that:
  • Exhibit signs of intentional damage or misuse.
  • Do not meet the specified eligibility criteria.
  • Fall outside the stipulated time frames mentioned in this policy.

 Buyback Percentage Calculation

  • The buyback value is determined as a percentage of the product's original purchase price.
  • 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:

  • Max(x, y) - This function ensures the buyback percentage never falls below a certain threshold.
  • Days - Number of days since the product was purchased.
  • Percentage values (50%, 30%, 20%, 0%) - These represent the minimum buyback values for each year.
  • 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:

  • To calculate the buyback percentage after 250 days:
    • Use the formula for Year 1: Buyback value = max(50%, 100% - (250) * 0.14%) ≈ 65%
  • 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%
  • 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
  • To initiate a buyback, customers must contact NewJaisa customer support.
  • Customer support will provide detailed instructions on packaging and shipping the product for return.
  • 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.
  • Deductions will be applicable if any damages or any functional defects are found at the time of product inspection
  • The value of the product will be credited only after all the verification process
Disclaimer
  • NewJaisa reserves the right to modify the terms and conditions of this buyback policy without prior notice.
  • The terms outlined in this policy are subject to change, and any updates will be communicated to customers in advance.
Agreement
  • By participating in the buyback program, customers acknowledge and agree to abide by these terms and conditions.