Financial Guarantee Policy
Definitions
Company: Refers to LegitGrails OU, 16456191, located at Ahtri tn 12, Tallinn, Estonia.
Client: The individual or entity requesting the authentication service.
Guarantee: The Financial Guarantee provided by LegitGrails as outlined in this policy.
Certified Item: The item authenticated by LegitGrails.
Authentication Request: The submission made by the Client to LegitGrails for item authentication.
Dispute: The process initiated by the Client to challenge the authenticity of a Certified Item.
Guarantee Payment: The reimbursement provided by LegitGrails in the event a Certified Item is deemed inauthentic.
Financial Guarantee for Completed Orders
Availability of the Financial Guarantee: The Guarantee is available to the Client. The Client may add the Guarantee as an addon when submitting an Authentication Request, applicable for 24 hours to the allowed brands.
Guarantee Term and Dispute Rights: If the order is completed by LegitGrails and the result is "Authentic," the item is secured with the Guarantee for a term of one year from the time of approval. During this one-year period, the customer has the right to initiate a Dispute. If the customer wins the Dispute, LegitGrails will reimburse 100% of the item’s purchase value or its fair market value.
Item Eligibility for Financial Guarantee
LegitGrails allows the Client to secure all items of all brands and categories, with the exception of jewelry, watches, and all models of Hermes Kelly and Birkin bags that LegitGrails cannot secure with the financial guarantee.
Dispute Resolution Process
LegitGrails will respond to a Dispute request within ten (10) business days to confirm provisional acceptance or request further information. LegitGrails may request additional evidence during the Dispute process to ensure that the item is still in the possession of the Client. The findings of independent experts, appointed by LegitGrails, will be considered final in determining the authenticity of the Certified Item.
If the independent review confirms that the Certified Item is authentic as it was initially authenticated, LegitGrails will provide a detailed expert opinion explanation of the outcome.
Guarantee Coverage
If the independent review confirms that the Certified Item is inauthentic, LegitGrails will provide a Guarantee Payment. The Guarantee Payment will be based on either the documented purchase price paid by the customer for the item or the market value of the item, whichever is deemed more beneficial for LegitGrails. This will be determined by authenticators of LegitGrails as well as a third party for full transparency.
Outright Purchases: LegitGrails will reimburse 100% of the documented purchase price.
Consignment or Marketplace Transactions: LegitGrails will reimburse 100% of the value of any commissions paid or due to the consignor.
Pawn Loans: LegitGrails will reimburse 100% of the documented loan value.
Transferability of Financial Guarantee
LegitGrails Certificates and the Financial Guarantee are not transferable to third parties.
Duration of Financial Guarantee
The Financial Guarantee is valid for LegitGrails' direct customers for one year from the original authentication result. It cannot be extended beyond one year.
Coverage of Financial Guarantee Payment
LegitGrails will request documentation to substantiate proof of procurement and the price paid for the item. The documented procurement price will be compared to the prevailing market rate for similar items. If the procurement price is significantly higher, LegitGrails reserves the right to set a lower Financial Guarantee Payment based on the prevailing market value.
Financial Guarantee for Consignment or Marketplace Sales
LegitGrails will pay the Guarantee Payment based on the category of the item for any commissions paid or due to the consignor in respect of the final sale of a LegitGrails authenticated item to an end-customer. Documentation must be provided to substantiate proof of consignment, customer sale, and payout to the consignor. The Certificate Holder must have rights over the item, and if the consignee still has a claim to the item, it cannot be disputed.
Payment Method for Financial Guarantee
Guarantee payments will be made via wire transfer. Please note that we are not responsible for the time taken by the bank to process these transfers. Typically, you can expect the process to take up to 14 business days.
Finality of Dispute Findings
The findings of the LegitGrails Dispute process are final.
Communication Details
All official communication from LegitGrails will be performed through guarantee@legitgrails.com.