Buyback Policy
The Buyback Program allows customers to return their previously purchased refurbished device and receive a pre-defined buyback value based on elapsed time since purchase and device condition. This policy also governs non-defective returns received within the 14-day return window.
1. Eligibility
To be eligible for the buyback program, the following criteria must be met:
- The product must be in good working condition without significant damage or wear.
- The original proof of purchase (invoice or receipt) must be provided.
- The return must include all original packaging, accessories, and documentation.
2. Exclusions
Edify reserves the right to refuse buyback of products that:
- Show signs of intentional damage or misuse.
- Do not meet the eligibility criteria above.
- Fall outside the time frames stipulated in this policy.
3. Percentage calculation
- The buyback value is determined as a percentage of the product’s original purchase price or the equivalent configuration price (processor, generation, storage, and so on), whichever is lower at the time of participating in the program.
- The percentage varies based on 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 on the remaining book value, not on 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, or a minimum depreciation of 12.5% applies. The final buyback value uses whichever method results in the higher deduction.
In plain terms: whichever method produces a greater deduction from the purchase price applies. A minimum 12.5% deduction always applies, even for a Day-1 buyback. Longer-held devices depreciate under the compounding 5% method.
5. Worked examples
For a product purchased at Rs. 10,000:
Minimum buyback = 10,000 × 0.875 = Rs. 8,750
Minimum floor: Rs. 8,750
Final = lower of (9,500, 8,750) = Rs. 8,750
Minimum floor: Rs. 8,750
Final = lower of (9,025, 8,750) = Rs. 8,750
Minimum floor: Rs. 8,750
Final = lower of (8,574, 8,750) = Rs. 8,574
Minimum floor: Rs. 8,750
Final = lower of (5,404, 8,750) = Rs. 5,404
This method ensures fair valuation: a minimum 12.5% deduction from Day 1, transitioning to compounding monthly depreciation at 5% as tenure grows. The final buyback value is always the lower of the two.
6. Summary table
Indicative buyback values for a purchase price of Rs. 10,000:
| Time elapsed | Reducing balance | 12.5% floor | Final buyback |
|---|---|---|---|
| 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 customer support at contact@edify.club or call +91-9513245671.
- Customer support provides packaging and shipping instructions.
- On receipt and inspection, the buyback value is processed as a refund to the original payment method or as store credit, per your preference.
- Pickup charges and consumable wear-and-tear charges apply.
- Additional deductions apply if damages or functional defects are found at inspection, as per the Customer-Induced Damage Charges.
- The amount is credited only after the complete verification process.
8. Disclaimer
- Edify reserves the right to modify the terms of this buyback policy without prior notice.
- Updates are communicated in advance where practicable.
By participating in the buyback program, you acknowledge and agree to these terms.
9. Contact
- contact@edify.club
- Phone
- +91-9513245671 (Mon to Sat, 10 AM to 7 PM)
