Buyback Policy
The Buyback Programme allows you to return a Product previously purchased from Edify and receive a pre-defined Buyback Value based on the time elapsed since purchase and the condition of the Product.
This policy also governs any non-defective return, including a return made within the 14-day Initial Product Acceptance Period where the Product is as ordered, as described and working correctly. If something is actually wrong with the Product, the Cancellation and Return Policy applies instead.
1. Eligibility
- The Product must be in good working condition without significant damage or wear.
- The original proof of purchase, being the tax invoice, must be provided.
- The return must include all original packaging, accessories and documentation.
2. Exclusions
Edify may decline buyback of a Product that:
- shows signs of intentional damage or misuse;
- does not meet the eligibility criteria above; or
- falls outside the time frames in this policy.
Where buyback is declined, we will tell you the reason in writing and return the Product to you at our cost.
3. How the percentage is calculated
- The Buyback Value is a percentage of the original purchase price of the Product, or of the price of the equivalent configuration by processor, generation and storage, whichever is lower at the time you enter the programme.
- The percentage varies with the time elapsed since purchase.
4. Valuation method
The Buyback Value is calculated using the Reducing Balance Method. Depreciation of 5% per month is applied to the remaining book value, not to the original purchase price.
- Months elapsed
- The number of full months since purchase. Each month is 30 days.
- Reducing depreciation rate
- Value reduces by 5% per month on a compounding basis. A minimum deduction of 12.5% applies in every case.
- Which applies
- The method producing the greater deduction applies. In practice this means the Buyback Value is the lower of the reducing balance figure and the figure after the 12.5% minimum deduction.
A minimum deduction of 12.5% applies from day one, including on a buyback requested on the day of delivery. From approximately the third month onward, compounding depreciation at 5% per month produces the greater deduction and applies instead.
5. Worked examples
- Minimum deduction. 12.5% applies in every case. Maximum payable = 10,000 × 0.875 = Rs. 8,750.
- After 1 month. Reducing balance 10,000 × 0.95 = Rs. 9,500. Maximum payable Rs. 8,750. Buyback Value = lower of the two = Rs. 8,750.
- After 2 months. Reducing balance Rs. 9,025. Maximum payable Rs. 8,750. Buyback Value = Rs. 8,750.
- After 3 months. Reducing balance Rs. 8,574. Maximum payable Rs. 8,750. Buyback Value = Rs. 8,574.
- After 12 months. Reducing balance 10,000 × (0.95)12 = approximately Rs. 5,404.
6. Summary table
Indicative Buyback Values for a purchase price of Rs. 10,000:
| Time elapsed | Reducing balance | Maximum payable after 12.5% minimum deduction | Buyback Value |
|---|---|---|---|
| At purchase | 10,000 | 8,750 | 8,750 |
| Month 1 | 9,500 | 8,750 | 8,750 |
| Month 2 | 9,025 | 8,750 | 8,750 |
| Month 3 | 8,574 | 8,750 | 8,574 |
| Month 6 | 7,351 | 8,750 | 7,351 |
| Month 9 | 6,302 | 8,750 | 6,302 |
| Month 12 | 5,404 | 8,750 | 5,404 |
| Month 18 | 3,972 | 8,750 | 3,972 |
| Month 24 | 2,920 | 8,750 | 2,920 |
7. Process
- Contact Edify at support@edify.club.
- Customer support provides packaging and shipping instructions.
- On receipt and inspection, the Buyback Value is paid as a refund to the original payment method or as store credit, at your election.
- Pickup charges and consumable wear-and-tear charges apply and are stated to you before you commit.
- Additional deductions apply where damage or functional defects are found at inspection, as set out in the damage charge schedule and assessed against the FQC.
- Payment is made after verification is complete, within 14 business days of written approval.
The Buyback Value calculated above is the maximum value. Damage charges and pickup charges are applied to it.
8. Changes to this policy
The changes provisions in the Terms of Service apply. The Buyback Programme terms in force on the date you purchased the Product govern a buyback of that Product.