Sell to HBC Policy (Buy-Back)
1. What this is
1.1A customer who owns a finished HBC product may offer to sell it to HBC. If HBC accepts, HBC buys the product at its buying price on that day. This is a new sale of goods from you to HBC. It is not a refund, cancellation or reversal of your original purchase, and it does not change the original purchase in any way.
1.2HBC buys as a dealer, for its own stock, in the same way a jeweller buys back a piece it sold. It is not an exchange and does not buy or sell on behalf of anyone else.
2. What HBC buys
2.1HBC buys only finished products that HBC itself made and sold, and that HBC's registry records as owned by you, whether by purchase or by a recorded gift: serialised bars by serial number, coins by product and weight.
2.2HBC does not buy:
- silver under an open plan that has not been made into a product (settle it first under the Early Settlement Policy);
- silver or products not sold by HBC, for anti-money-laundering reasons;
- products from verified jewellery businesses;
- products arising from a Fixed Price plan that have not yet been physically collected (Fixed Price Plan Terms §6.3);
- products whose ownership cannot be verified against HBC's records.
3. When
3.1Offers are accepted on business days between 11:00 and 14:00. A product in custody may be offered from the app at any time; HBC acts on it in the next window at the buying rate then in force. A collected product may be offered in store from the third day after collection.
4. Price
4.1HBC's buying rate is published each business day in the app and in store, per 10 g and per tola of fine silver, alongside the selling rate. It is 3.99% below HBC's published selling rate, as stated in the Fees and Charges Schedule. HBC's selling rate follows the daily rate published by Nepal's gold and silver dealers' associations. HBC sets both rates as a dealer.
4.2The price that applies is the buying price at the moment HBC accepts your offer. A quote shown before acceptance is indicative and lapses if the rate changes.
4.3Proceeds are the fine-metal weight of the product multiplied by the buying price. Making charges, fees, levy, custody charges and taxes paid on the original purchase are not recovered. Proceeds may be more or less than you paid.
5. Verification
5.1A product in custody is verified against the custody and registry record. A collected product is weighed and tested in store before acceptance. A product that fails verification is returned to you unpaid.
5.2KYC must be current. HBC may ask you to confirm identity before paying.
6. Payment
6.1In store. HBC pays by cheque in your name, issued within three working days of acceptance. At your election HBC may instead issue HBC Credits under the HBC Credits Terms, with the published credit incentive.
6.2From the app (product in custody). Proceeds are issued as HBC Credits, with the published credit incentive, on acceptance. If you want a cheque, you may refund the Credits under the HBC Credits Terms or sell in store.
6.3HBC does not pay cash. HBC's payment obligation is discharged when the cheque is issued to you; your bank's clearing time then applies.
7. Documents
7.1HBC issues a buy-back settlement document showing the product, weight, buying price, deductions and net proceeds. Your ownership record for the product is closed and the product returns to HBC stock.
8. HBC's discretion
8.1HBC buys back every eligible HBC product offered under this policy. HBC may decline or defer an offer only where KYC is incomplete, ownership cannot be verified, the product fails verification, the product is subject to a complaint or legal hold, or the offer is made outside rate hours. HBC gives its reason in writing.
8.2HBC does not guarantee any future buying rate. The buying rate moves with the market and may be above or below the price you paid. If HBC ever ceases buy-back as a service, the Terms of Service §16A.2 notice period applies.
10. Tax
10.1You are responsible for any tax on the proceeds of a sale to HBC. HBC's settlement document shows the price you paid and the price HBC paid you, for your records. HBC deducts tax at source only where the law requires and shows it on the document.
9. Disputes
9.1Any dispute about weight, verification or price is handled under the Complaints and Disputes Policy. The product is returned to you or held, at your choice, while the dispute is open.