Terms and Conditions

The following terms and conditions (“Terms and Conditions”) govern the Transaction(s) defined below. For purposes of these Terms and Conditions, the terms “you” and “your” refer to, as applicable, the person or persons sending a jewelry item or items, including, but not limited to, diamonds, precious metals and watches (hereinafter referred to as “Merchandise”), to Diamond Banc 2, LLC, a Missouri limited liability company (“Diamond Banc”) as collateral for a loan or for sale to, and purchase by, Diamond Banc (“Transaction”) using diamondbanc.com (the “Site”).

These Terms and Conditions are binding on every Diamond Banc customer and shall apply to all business dealings between you and Diamond Banc, including, but not limited to, your use of the Site, the Transaction, and any other service provided to you by Diamond Banc. You hereby make the following representations and warranties contained herein to Diamond Banc (regardless of whether a Transaction is consummated), and agree to these Terms and Conditions by your use of the Site and/or by sending Merchandise to Diamond Banc.

Terms Applicable to Loans Collateralized by Merchandise and the Purchase of Merchandise

The following terms and conditions govern any Transaction relating to pledging, or attempted pledge of Merchandise as collateral for a loan or the purchase, or attempted purchase, of Merchandise by Diamond Banc.

Ownership of Merchandise

If you are attempting to pledge Merchandise for a loan to be made by Diamond Banc to you or to sell Merchandise to Diamond Banc, you hereby represent and warrant to Diamond Banc that (i) you are at least eighteen (18) years of age; (ii) you have good and marketable title to the Merchandise; (iii) you have full authority to pledge, sell, transfer, and convey the Merchandise; (iv) you are the legal and equitable owner of any and all Merchandise offered to be sold or pledged to Diamond Banc; (v) you are acting on your own behalf, and not as another’s agent or representative; (vi) the Merchandise is being pledged or sold free of all liens, encumbrances, liabilities, and adverse claims of every nature and description whatsoever; (vii) the Merchandise is not from, or the result of, illegal activity, including theft or fraud; (viii) any transaction initiated by you will not cause Diamond Banc to be in violation of any anti-money laundering, anti-terrorism, or other applicable state or federal law of the United States of America; and (ix) Diamond Banc reserves the right and you hereby agree to provide additional documentation and/or information concerning yourself and/or any Merchandise, including all documentation or information necessary for Diamond Banc to comply with local, state and federal law (which includes Diamond Banc reporting all Merchandise received to the proper authorities as required by applicable law.)

Describing your Merchandise

You hereby agree that any description of the Merchandise that you provide to us, will be true, complete, and accurate at the time you submit such description to us. If we determine, in our sole discretion, that there are significant discrepancies between the Merchandise as described by you and the Merchandise we receive, or if no description of the Merchandise was included in the Shipping Package, defined below, or other package used by you to ship the Merchandise to Diamond Banc, we may suspend or terminate the Transaction without notice to you. Notwithstanding anything in these Terms and Conditions to the contrary, in the event that we terminate the Transaction because the Merchandise shipped by you is determined by Diamond Banc, in our sole discretion, to have an altered/mutilated serial number or to be a counterfeit or a replica copy, contain undisclosed treatments or laboratory grown diamonds, we will notify you in writing and will ship your Merchandise to you, at your cost, within 5 business days of our receipt of your shipping instructions and payment therefore (if a valid account number with the designated shipper is not provided); provided, however, that you hereby agree that Diamond Banc may dispose of the Merchandise if we do not receive shipping instructions and payment for all shipping costs from you within 30 days of the date on which Diamond Banc sends you written notice that the Transaction has been terminated. In the event that Diamond Banc terminates the Transaction for any other breach of the representations and warranties made by you in connection with your description of the Merchandise, Diamond Banc will ship your Merchandise to you within 5 business days at our cost by the shipping method of our choosing, and you agree that we will only be responsible for insuring the value of your Merchandise up to $100.

Inbound and Return Shipping; Costs; Loss or Damage Guarantee

You can elect to send your Merchandise to us using a shipping label provided by Diamond Banc, which you can request on our website (“Shipping Label”). A Shipping Label will only include the printable shipping label and packaging instructions for you to ship the Merchandise to Diamond Banc.  You shall be responsible for the cost of all ancillary materials required for safeguarding the Merchandise during shipping, such as, bubble-wrap, foam and the packing boxes them self (“Shipping Package”). If you send us the Merchandise using a Shipping Label & Shipping Package, we will purchase insurance to cover your Merchandise in the event it is lost, stolen or damaged during delivery for the value of your quote, once it is processed by the national courier selected by us to ship the Shipping Package (the “Shipper”). Once we receive the Merchandise, it will remain insured for this same amount until sold or redeemed. In the event your Shipping Package is lost, stolen or damaged, we will require that you: provide proof, and a copy of, the shipping receipt, provide receipt of proof that goods are lost, and file a claim within 30 days of such loss. In the event your package is damaged we will require that you: provide proof of shipping receipt, provide receipt of proof that goods are damaged, demonstrate that the package was not damaged prior to shipping, and file a claim within 30 days of such loss. If you believe that you need additional coverage, then it is your responsibility to contact us so that we can provide such additional coverage before sending us your Merchandise. You can contact us by telephone at (573) 875- 2265 to arrange for additional coverage or for questions regarding the shipping instructions.

Receipt of Merchandise

We videotape the opening and the contents of each Shipping Package containing Merchandise we receive. We will retain the video for 10 days after we receive your Merchandise for your review if requested in writing during that 10 day period. We reserve the right, at our sole discretion and without notice to you, to reject any inbound package, including any Merchandise not shipped via a Shipping Label & Shipping Package. For purposes of these Terms and Conditions, any inbound package that we reject will not be deemed to have been “received” by us.

Determining Our Offer

We will determine our estimate of the value of your Merchandise using factors that we deem to be appropriate in our sole and absolute discretion. In order to value your Merchandise, we may need to disassemble the jewelry item and remove diamonds, stones and other items from the Merchandise for examination and appraisal. You hereby authorize us to disassemble the Merchandise, and to remove diamonds and other items from the Merchandise, and take such other actions as we deem reasonably necessary to accurately value, inspect and appraise your Merchandise, including, without limitation, sending your Merchandise, at no cost to you, to a potential Third-Party Purchaser or Gemological Laboratory. You hereby further authorize us to perform our standard inspection process (which may consist of cleaning as we deem appropriate), and to photograph your Merchandise. You hereby authorize us to communicate with any potential Third-Party Purchaser regarding you and your Merchandise and to disclose all information provided to or obtained by us relating to you and/or your Merchandise to any potential Third-Party Purchaser. Upon processing your Merchandise, we will notify you by email (an “Offer Notice”) of our purchase or loan offer for your Merchandise (“Offer”). If you have selected our consignment option (“Consignment Option”), you hereby acknowledge and agree that (i) Diamond Banc will be entitled to such fees as stated in the Offer, which may include a preparation fee and a consignment fee, at our then current rates or at such other rate as agreed to by Diamond Banc in writing (regardless of whether Diamond Banc or a Third Party Purchaser purchases the Merchandise from you), and (ii) that these fees will be deducted from proceeds from the Transaction and prior to the transfer of any funds to you. 

By agreeing to the Consignment Option, if that is your election, you agree to allow Diamond Banc to sell your Merchandise, absent any further permission or correspondence with you, for at least the reserve amount per the written agreement with Diamond Banc. Any fees owed to Diamond Banc will then be deducted from this amount—including, but not limited to, the preparation fee and consignment fee. 

If you have selected our Consignment Option, you acknowledge and agree that the ultimate buyer of the Merchandise may be Diamond Banc, in which case all fees, such as preparation fees and consignment fees, will be deducted from the proceeds from the sale of the Merchandise prior to remitting any funds to you just as though the buyer of the Merchandise were a Third Party Purchaser. 

If you have selected our Consignment Option, Diamond Banc may provide you with a cash offer and a consignment offer. If you elect to choose the consignment offer, the cash offer is null and void. If during the consignment process, you would like an additional cash offer, then such can be obtained by contacting Diamond Banc. However, such cash offer may be higher or lower than the original cash offer.

Accepting or Rejecting Our Offer

You may accept the Offer by replying to the email containing the Offer Notice (as instructed in the Offer Notice) or by not replying to us in any way within 48 hours after we send you an Offer Notice. In order to reject the Offer, you must reject the Offer within 48 hours after we send you an Offer Notice by replying to the email containing the Offer Notice pursuant to the procedures provided in the Offer Notice. If you reject the Offer within the time frame set forth above, and do not authorize us to hold your Merchandise for a longer period in order to make you another offer, then we will ship your Merchandise to you at the address indicated in our records within 5 business days. All Quotes are valid for 48 hours but can be extended at the sole discretion of Diamond Banc.  IF YOU HAVE NOT REJECTED OUR OFFER WITHIN THE TIME FRAME SET FORTH ABOVE, AND PURSUANT TO THE PROCUDURES DESCRIBED HEREIN (AND IN THE OFFER NOTICE) THEN YOU WILL BE DEEMED TO HAVE ACCEPTED THE OFFER. If a package containing your Merchandise is lost in transit while being returned to you in accordance with these Terms and Conditions, we will file a claim with Shipper and pay you the full amount received by us from the Shipper.

 Notwithstanding the foregoing, by selecting our Consignment Option, you authorize us to hold your Merchandise for up to ninety (90) days. After ninety (90) days, Diamond Banc may determine that market conditions have changed and seek an agreement with you to reduce the reserve price.  If you decline or are not agreeable to the price reduction (reducing the reserve) and would like Diamond Banc to return your Merchandise, Diamond Banc will return your Merchandise, at your cost and expense.  In such an event, you are responsible for providing us the shipping label and instructions to return the Merchandise, and are solely responsible for the return shipping costs and insurance.  Diamond Banc is not liable for any loss, theft or damage in transit and you shall bear the risk of loss, theft or damage with respect to all Merchandise once Diamond Banc places such Merchandise in the hands of a Shipper for return of the same to you.

Electronic Signature

For purposes of the Transaction, you hereby agree to the use of electronic signatures, receipt of notices by e-mail, use of electronic contracts, and to accept these Terms and Conditions by electronic means. You agree that clicking the submit box at the end of the Diamond Banc “Get a Loan” & “Sell Your Jewelry” form constitutes your electronic signature.

Limitation of Liability

In all events throughout these Terms and Conditions, you agree that the legal limit of our liability to you for any claims or actions for lost, stolen or damaged merchandise that you sent to us shall not exceed the lesser of our offer to you or the insured value of the Merchandise during shipping to Diamond Banc. Notwithstanding the foregoing, if the Merchandise we receive from you (i) is materially different from the description of the Merchandise you provided to us, (ii) has an altered or mutilated serial number, (iii) is a counterfeit or a replica copy, or (iv) contain undisclosed treatments or laboratory grown diamonds, then the legal limit of our liability to you for any claims or actions for lost, stolen or damaged Merchandise that you sent to us shall not exceed $100 with respect to such Merchandise.

You agree that we will not be liable for (i) incidental, special, indirect, consequential, exemplary, speculative, or punitive damages, or loss of profit or opportunity; or (ii) any claims, demands, or actions for any subrogation claim brought by your insurance carrier, in each case relating to any Transaction, the Merchandise, the Site, or any other services provided by Diamond Banc to you, and you expressly and specifically waive any subrogation claim on your behalf as well as on behalf of your insurance carrier.

Certain state laws do not allow the exclusion or limitation of certain damages. If these laws apply to you, some or all of the above disclaimers, exclusions, or limitations may not apply to you, and you might have additional rights.

Miscellaneous

You hereby acknowledge and agree that you provided to us the email address, physical address, and telephone numbers that are in our records, and it is your responsibility to provide us with any current or updated contact information. You further acknowledge and agree that: (i) any email message that we send to you is deemed to have been effectively received by you and constitutes due notice to you by email; and (ii) any phone message we leave with you, anyone answering your phone, or on your answering machine or service is effectively received by you and constitutes due notice to you by telephone. In the event of any strike, disruption of service, or any other problems that we might encounter with Shipper, we reserve the right in our discretion to replace Shipper with another shipping carrier of our choosing. Diamond Banc is licensed to do business in the State of Missouri and is governed by the laws of the State of Missouri. YOU EXPRESSLY AGREE THAT ANY CLAIMS, LAWSUITS, ACTIONS, DISPUTES, CONTROVERSIES OR OTHER MATTERS AGAINST DIAMOND BANC ARISING OUT OF, OR RELATING TO, THIS AGREEMENT, THE OFFER, OR THESE TERMS AND CONDITIONS, OR ANY BREACH THEREOF, SHALL BE SETTLED SOLELY AND EXCLUSIVELY VIA BINDING ARBITRATION PURSUANT TO THE RULES OF THE AMERICAN ARBITRATION ASSOCIATION PURSUANT TO THE FEDERAL ARBITRATION ACT, WHICH ARBITRATION SHALL TAKE PLACE IN BOONE COUNTY, MISSOURI, USA, AND SHALL BE FINAL AND BINDING. You expressly agree that any such Arbitrator has personal jurisdiction over you. You waive all defenses of lack of personal jurisdiction and forum non-convenience. You agree that the Transaction(s) and this Agreement with shall be governed, construed, enforced and interpreted by, through and under the laws of the State of Missouri without reference to the conflicts of law provisions.  You agree that each party shall bear its own attorneys’ fees and expenses. You agree to abide by all decisions and awards rendered in such Arbitration proceedings, and that such decisions and awards rendered by the Arbitrator shall be final and conclusive. You agree that the Arbitrator shall not have the right to award consequential, punitive, speculative, indirect, incidental, special, or exemplary damages. The Arbitrator shall be required to follow applicable Missouri law. You agree that venue shall be in Boone County, Missouri. All references to days shall refer to business days. Saturdays, Sundays, and federal legal holidays are not included as business days, and if the expiration of any time frame set forth above falls on a Saturday, Sunday, or federal legal holiday, performance will be due on the next business day. Merchandise received after 2:00 p.m. CST, or on any Saturday, Sunday, or federal legal holiday will be considered to have been received on the next business day. All business days will begin at 9:00 a.m. and end at 5:00 p.m. in Missouri on the appropriate day. Notwithstanding any other provision herein to the contrary, we reserve the right to suspend or enlarge any time frame specified above, and/or request additional documents or information from you, in order to comply with any applicable local, state, or federal law, ordinance, or regulation. Furthermore, any time frame set forth above may be suspended or extended in our discretion with or without notice to you in the event that we encounter technical difficulties concerning our website or otherwise, or encounter any other delays attributable to acts of God, including but not limited to fires, earthquakes, hurricanes, and other storms.

In the event that any provision hereof is found to be invalid or unenforceable, the remainder of these Terms and Conditions shall remain valid and enforceable according to their terms. It is expressly understood and agreed that each provision of these Terms and Conditions that provides for a disclaimer of warranties, limitation on liability, or exclusion of damages is intended by the parties to be severable and independent of any other provision and to be enforced as such. The failure of a party to enforce any applicable provision of these Terms and Conditions, or to require at any time performance by the other party of any provision or obligation hereof, shall in no way be construed to be a waiver of such provision, nor in any way affect the validity of these Terms and Conditions or any part hereof, or the right of such waiving party.

Updated: May 12, 2018

Loan Rates & Details

Diamond Banc offers the best jewelry-backed loans in the nation. Our plans are flexible with a minimum repayment period of 61 days and a maximum repayment period of 5 years. Our interest rate is 3% per month or 36% APR when clients borrow 30%-50% of the liquid wholesale value of their pledged collateral. For example, if you have an asset with a liquid wholesale value of $25,000 and borrow $10,000, your interest would be $300/month. If you borrowed the money for 3 months, your total pay back amount would be $10,900. Loans greater than $100,000 can qualify for even lower rates. If you have any more questions please review our FAQ page or give us a call.