Terms & Conditions

These Terms govern your use of the AF Jewels customer application. AF Jewels operates from Shop No. 2889, Rajouri Kadal, Near Islamia High School, Srinagar, J&K, 190002 and is a GST-registered jeweller (GSTIN 01ACHFA0283E1Z2) and BIS Hallmark licensee (Licence HM/C-9990254616). By registering you accept these Terms.

1. Nature of every transaction. Every purchase you confirm in the AF Jewels customer application is an outright sale of physical gold. Title to the specific weight of gold shown on the invoice transfers to you the moment your payment is confirmed. Nothing on this application is an investment product, a deposit, a scheme, or a promise of any return.
2. Invoice and allocation. Each completed purchase is evidenced by a GST tax invoice bearing our GSTIN 01ACHFA0283E1Z2, HSN 7108, GST @ 3%, the weight bought to three decimal places, the rate at which it was locked, and a unique allocation reference that ties your gold to our custody register.
3. Safekeeping. You may request that we hold your gold in safekeeping until you sell it back or collect it. Your gold is identified against your allocation reference and is never pooled with the firm’s own inventory.
4. Storage / insurance cost. Where a separate storage or insurance charge applies, it is described as a cost-recovery fee — not a return-linked or performance-linked charge. Any such fee will be disclosed in advance and applied uniformly.
5. Sell-back. You may sell any weight of your safekept gold back to AF Jewels at any time. The buy-back rate is the live gold rate at the moment of confirmation minus a margin in Rupees per gram set by AF Jewels (currently zero unless separately notified in-app). The buy-back rate is shown to you before you confirm. Sell-back payouts are made only to a bank account verified in your own name — never in cash.
6. Physical collection from the shop. You may collect physical gold from AF Jewels, Rajouri Kadal, Srinagar, J&K, once your safekept holding reaches the configured collection threshold. Handover requires identity verification and is documented on collection.
7. Pricing. Prices you see in the application are live and change with the market. When you buy, AF Jewels offers a 5-minute rate lock so the price you confirm is the price you pay. GST @ 3% is added on top and shown separately on the invoice.
8. Payment methods and UPI limits. We accept UPI (HDFC), bank transfer and cash. To manage risk, UPI payments are subject to a rolling 24-hour daily limit per user (currently ₹1,00,000) and a per-transaction cap for MMTC physical-gold purchases (currently ₹80,000). Limits may be revised in-app without notice; the amount enforced at the moment of payment is authoritative.
9. MMTC split-payment booking and 48-hour price lock. For MMTC orders that exceed the per-transaction UPI cap, AF Jewels offers a booking flow: you pay the cap amount as an advance now, and the balance within forty-eight (48) hours at the LOCKED rate captured at the time of your advance. If the balance remains unpaid at 48 hours, the booking lapses automatically and the advance is refunded to your registered bank account on a best-effort basis.
10. Account access. Access to your account is via your registered mobile number and a 4-digit PIN. You are responsible for keeping your PIN confidential; any action taken with the correct PIN is treated as yours. Report suspected misuse immediately via Support@afjewels.in.
11. KYC and anti-money-laundering. AF Jewels is a reporting entity under the Prevention of Money-Laundering Act, 2002. Full KYC is required beyond entry-level holdings, and mandatory in law for any purchase of ₹2,00,000 or more.
12. Grievances. Complaints should be raised through the in-app Grievances feature or by e-mailing Support@afjewels.in. The Grievance Officer, AF Jewels will acknowledge within 48 hours and aim to resolve within 30 days.
13. Consumer rights. Your rights under the Consumer Protection Act, 2019 are not diminished by these Terms. AF Jewels is not liable for market-price movements, delays caused by banks or payment systems, or events beyond its reasonable control.
14. Governing law and jurisdiction. These Terms are governed by the laws of India. Any dispute is subject to the exclusive jurisdiction of the courts at Srinagar, Jammu & Kashmir.
15. Changes. We may update these Terms prospectively; material changes will be notified in-app. Continued use after notice is acceptance.