WarrantY and (BASIC) Ring Loss Protection
CBI, as used in this warranty statement, refers to Commemorative Brands, Inc. (a.k.a. Balfour).
Lifetime Guarantee against Defects in Material and Workmanship
All MIT Graduate Rings are guaranteed against defects in materials and workmanship for the life of the Ring.
Lifetime Stone Replacement at no charge for standard stones
All stones included in the base price and all stone decoration are fully guaranteed and will be replaced without charge at any time. Diamonds greater in size than 3 points and genuine stones not included in the base price are excluded from the free replacement clause.
All Graduate Rings may be resized for the life of the Ring (all rings can be resized up or down two sizes).
Replacement of a Damaged Ring
CBI’s base price includes the replacement of a Graduate Ring (with the same specifications as the original ring) that is accidentally damaged (with the return of the damaged ring) at no charge. Replacement of diamonds and genuine stones will be at current market prices at the time of repair.
Change of Academic Department Designation
Should any student transfer to a different department within MIT, CBI will change the department designation at no charge until graduation. The original ring will be exchanged for a new one (of the same style, weight, and quality).
Failure to Graduate
A student who fails to graduate may return the ring to receive a full refund up to one year from the students’ scheduled date of graduation upon written confirmation ofthe student’s change of status from the Graduate Students Office at MIT.
Resolution of Warranty Disputes
Disputes about the validity of warranty claims will be resolved by the MIT Graduate Student Council (GSC). CBI agrees to abide by the decision of the GSC.
If a student is not totally satisfied with his or her original choice of finish, CBI will refinish the ring at no charge.
Ring Adjustment Service
Several ring adjustment service sessions will be scheduled with company representatives present on campus. A shipping charge of $14.95 may be assessed for any warranty work performed after graduation.
Ring Loss Protection
The Ring is automatically protected against loss or theft. If lost or stolen CBI will replace the Ring one time for a one hundred dollar ($100.00) processing fee plus a fourteen dollar and ninety-five cents ($14.95) shipping and handling charge. This loss protection is in effect for four years from the date of purchase on all original orders purchased after this contract goes into effect. This protection plan excludes diamonds and precious stones. An extended Ring Loss Protection Plan (10 years!) can also be purchased.
Requirements for replacement:
1) Ring Loss Protection Plan Card; 2) Original Invoice; 3) Specifications for replacement must be identical to original jewelry: stone, date, curriculum, school and all other options; 4) Request for replacement must be made within 45 days of loss, 5) Police report number (as applicable); 6) Explanation of circumstances of loss; 7) $100.00 processing fee plus $14.95 shipping and handling.
CBI’s warranty is not valid if work is performed on the MIT Graduate Ring by anyone other than a CBI craftsman.
CBI’s warranty gives specific legal rights and other rights which vary from state to state (effective 1972).