These terms and conditions govern the operation of the Enterprise Jewelry Purchase Plan (SJPP), a closed-group, fixed-term savings and purchase scheme for the procurement of gold/silver articles.
1. Plan Overview
Feature: Shivanya Jewelry Purchase Plan (SJPP)
Membership: 10 Members (Closed Group)
Duration (Term): 10 Months (Fixed)
Asset Type: Gold/Silver Articles only. No cash returns.
Scheme Goal: Systematic purchase of precious metal articles.
2. Membership & Enrollment
• Member ID: Each enrolled member will be assigned a unique Membership ID upon commencement.
3. Contribution Schedule & Denomination
• Fixed Denomination: A fixed Total Contribution Value must be selected (₹3000 / ₹5000/ ₹10000).
| Detail | Agreed Information (To be Filled) |
| Total Contribution Value | ₹ [Insert Fixed Denomination: 3000 / 5000 / 10000] |
| Fixed Monthly Installment (EMI) | ₹ [Calculated: Total Value / 10] |
| Monthly Payment Due Date | 10th of each month |
| Plan Start/End | 10th Jan to 10th Oct |
• Monthly Installment (EMI): Total Contribution Value / 10.
• Due Date: EMI must be paid on or before the 10th of each month.
• Late Payment: Late EMI may result in loss of draw eligibility.
4. Monthly Draw & Article Collection
• Draw Date: Conducted on the 10th of each month.
• SIP Worth Article: Winner receives article worth the total monthly collection.
• Value Excess: Any value above monthly collection must be paid by the winner.
• Article Charges: Making charges, stone charges, wastage, GST, or other levies to be paid separately.
5. Fund Utilization & Returns
• No Cash Return: Funds strictly used for procuring articles. No cash refunds.
• Article Guarantee: Every member receives one article during the plan period.
6. Withdrawal & Defaults
• Voluntary Withdrawal: Terms to be mutually defined. May involve forfeiture of draw benefit.
• Payment Default: Three consecutive missed EMIs may lead to termination.
Plan Details to be Filled:
• Plan Start Date: __________
• Plan End Date: __________
• Total Group Members: 10
• Chosen Total Contribution Value: __________
• Fixed Monthly Installment (EMI): __________
• Monthly Due Date: 10th of each month