Early Settlement Policy
1. What early settlement is
1.1A customer who does not wish to complete a plan may at any time ask HBC to settle it early. Early settlement delivers the customer's silver as one or more finished products of the same metal from HBC's catalogue. It is the only way a plan ends before completion, other than a statutory remedy under the Cancellations, Refunds and Remedies Policy.
1.2Early settlement is a product-settlement arrangement between HBC and the customer. It is not a refund, a cash settlement, a buy-back or a trade. A later sale of the settled product to HBC is a separate transaction under the Sell to HBC Policy.
2. Making a request
2.1A request is made in the app or in store. HBC prepares a written quote showing:
- the grams the customer owns and the purchase receipts supporting them;
- the products offered and their total fine-metal weight;
- any additional grams needed and their cost at the day's selling price (or, for the paid portion of a Fixed Price plan, at the fixed price);
- making charges for the products, less any making charge already paid under the plan;
- any levy;
- custody or collection terms;
- the total payable, if any;
- the quote expiry.
2.2A second authorised HBC staff member approves every quote before it is shown.
3. Nothing is forfeited
3.1The products offered must weigh at least as much as the silver the customer owns. No grams are forfeited, rounded away or converted to cash; unfinished silver is never bought back as money.
3.2Where the owned weight does not match a product combination, the customer buys the shortfall at the day's selling price. HBC may, at its discretion, reduce or waive the shortfall price or a making charge; a concession is stated on the quote and never reduces the grams delivered.
3.3Example. A customer owns 108.400 g. The nearest eligible combination is a 100 g coin and a 10 g coin, 110.000 g. The customer buys 1.600 g at the day's selling price and pays the published coin making charges. All 108.400 g are delivered. A combination of 100.000 g is not offered, because 8.400 g would be unaccounted for. The engine shows every feasible combination and the customer chooses; the combination requiring the least additional silver is shown first.
4. Making charges already paid
4.1Making charges paid under the plan are credited at their invoiced rupee amount against the making charges of the settlement products. Any surplus is returned as HBC Credits under the HBC Credits Terms.
5. Acceptance
5.1A quote is not binding until the customer accepts it in writing and pays any balance. If the quote expires or prices change, HBC issues a new quote. A customer who does not accept a quote keeps their plan on its existing terms.
5.2On acceptance HBC bills the settlement products, records them against the customer, closes the plan and issues a settlement statement reconciling every gram and every rupee. The products are placed in custody or made available for collection.
6. Partial settlement
6.1A customer may settle part of a plan into a product their silver already covers and continue the plan with the remainder, where the remaining Target is still achievable.
7. When HBC may decline
7.1Early settlement is your right. HBC may defer a settlement only while KYC is incomplete, while the plan is the subject of an open complaint, or until a requested product is available; it then proceeds. HBC gives its reason in writing. HBC never declines a settlement in order to keep a customer in a plan.
8. Fixed Price plans
8.1On a Fixed Price plan the paid portion is converted at the fixed price. Additional silver to complete a product is bought at the day's selling price. Any accrued overdue collection charge is settled before the products are released.
9. Selling a settled product
9.1After settlement, the customer owns finished products and may collect them, keep them in custody or sell them to HBC under the Sell to HBC Policy. HBC will not automatically convert a plan into cash. A sale to HBC uses HBC's buying price on the day of the sale and is documented separately. Products settled from a Fixed Price plan must be physically collected before they may be sold to HBC (Fixed Price Plan Terms §6.3).