“Commerce” obliges precious metals traders to adhere to 8 requirements and recognizes 4 consumer rights
The Ministry of Commerce specified 8 obligations for the merchant, in addition to 4 rights for the consumer in The merchant’s obligations: Issuing a commercial register from the Ministry of Commerce to engage in selling activity.
The merchant’s obligations included: issuing an industrial license from the Ministry of Industry and Mineral Resources to practice manufacturing activity.
The merchant’s obligations included: licensing when holding exhibitions of jewelry or precious stones from the licensed authority.
According to the Ministry of Commerce, the merchant’s obligations included: allocating a place to display used artifacts, or those with single or artificial diamonds mounted on them.
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Among the merchant’s obligations are: adherence to the controls for advertising Precious metals.
The merchant’s obligations included: adherence to the requirements for invoices and data that must be disclosed when buying or selling.
The merchant’s obligations included: not to buy from an unknown, incapacitated, incomplete, or suspicious person.
Consumer Rights
The Ministry of Commerce specified 4 rights for the consumer in the executive regulations for the system of precious metals and gemstones.
The consumer’s rights included: obtaining a sales invoice that includes data and information The facility, the type of precious metal, the replacement and return policy, and maintenance and warranty provisions.
Consumer rights included: Obtaining a clear identification card for every jewelry item that contains diamonds or precious stones, showing its data and specifications.
Among the consumer rights specified by the Ministry: disclosing to the merchant any increase in the weight of the valuable item.
Consumer rights included: viewing the advertisement that includes details about the jewelry or precious stones such as type, weight, Caliber, purity standards, and price.
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