Terms of Use

Innovation Diamonds Ltd.

Israel Diamond Exchange, Ramat Gan, Israel

Effective Date: March 8, 2025

Last Updated: March 8, 2025

1. Agreement to Terms

By accessing or using the Innovation Diamonds website (innovationdia.com), the Innovation Diamonds mobile application available on the Apple App Store and Google Play Store (the “App”), the B2B trade portal, or any related services (collectively, the “Platform”), you agree to be bound by these Terms of Use (“Terms”). If you do not agree, you may not use the Platform.

These Terms constitute a legally binding agreement between you (or the company you represent) and Innovation Diamonds Ltd., a company registered in Israel (“Innovation Diamonds,” “we,” “us,” or “our”).

2. Who May Use the Platform

The Platform is intended exclusively for trade and business professionals in the diamond and jewelry industry, including but not limited to: manufacturers, casting houses, wholesalers, distributors, retail brands, and e-commerce jewelers.

By using the Platform, you represent and warrant that:

You are at least 18 years old and legally authorized to enter into binding agreements
You are acting on behalf of a legitimate business entity in the diamond or jewelry trade
All information you provide is truthful, accurate, and complete
You are authorized to bind the company you represent to these Terms
Your use of the Platform complies with all applicable laws in your jurisdiction

We reserve the right to verify your identity and business credentials at any time and to refuse access to any person or entity that does not meet these requirements.

3. Account Registration

To access certain features of the Platform, including the B2B portal and the App, you must register for an account. You agree to:

Provide accurate, current, and complete registration information including company name, trade credentials, and contact details
Maintain and promptly update your account information
Keep your login credentials confidential and not share them with third parties
Notify us immediately at legal@innovationdia.com if you suspect unauthorized access to your account
Accept responsibility for all activity occurring under your account

We reserve the right to suspend or terminate any account at our sole discretion, including if we have reason to believe the information provided is inaccurate, or that the Terms have been violated.

4. Mobile Application

The Innovation Diamonds mobile application is powered by Virtual Diamond Boutique, Inc. (“VDB”), a third-party technology provider. The App is published under the Innovation Diamonds name on the Apple App Store and Google Play Store.

By downloading, installing, or using the App, you acknowledge and agree to the following:

4.1 Technology Provider

The App is built on VDB’s platform and infrastructure. VDB provides the underlying technology, marketplace connectivity, and app functionality. VDB’s platform connects buyers and sellers of diamonds, lab-grown diamonds, gemstones, and jewelry globally.

4.2 Data Collection by the App

When you use the App, the following types of data may be collected automatically by the App’s underlying technology:

Contact information (name, email, phone, company)
Login credentials and account activity
Purchase and transaction data
Device identifiers and mobile device information
IP address and network information
App usage data, browsing behavior within the App, clickstream data
Cookies and web beacons
Approximate and precise location (as permitted by your device settings)

This data is collected and processed in accordance with our Privacy Policy.

4.3 Third-Party Analytics

The App may use third-party analytics services including Google Analytics, HotJar, Segment, and Woopra to help analyze usage and improve performance.

4.4 License to Use the App

Subject to these Terms, we grant you a limited, revocable, non-exclusive, non-transferable license to download and use the App on a mobile device you own or control, solely for your own internal business purposes. You may not:

Decompile, reverse engineer, or disassemble the App
Copy, reproduce, sell, or create derivative works from the App
Use the App to provide services to third parties on a commercial or service-bureau basis
Remove any proprietary notices or labels from the App
Use automated tools (bots, spiders, scrapers) to access the App

4.5 App Updates

You agree to allow the App to automatically download and install updates. Updates may include bug fixes, new features, or new versions. Innovation Diamonds reserves the right to modify or discontinue the App at any time.

4.6 App Store Terms

Apple (iOS): In the event of any failure of the App to conform to any applicable warranty, you may notify Apple, and Apple may refund the purchase price (if any). To the maximum extent permitted by law, Apple has no other warranty obligation with respect to the App. Apple is not responsible for the App or its content and is not a party to these Terms.

Google (Android): To the extent permitted by law, Google has no warranty obligations with respect to the App beyond any refund of the purchase price (if any) within 48 hours of purchase. Google is not responsible for the App or its content and is not a party to these Terms.

Apple and Google are third-party beneficiaries of the app-specific provisions of these Terms.

5. Permitted Use

The Platform may be used only for lawful business purposes in connection with the diamond and jewelry trade. You agree not to:

Use the Platform for any unlawful, fraudulent, or deceptive purpose
Post or transmit false, misleading, or inaccurate inventory or pricing information
Circumvent, disable, or interfere with Platform security features
Attempt to gain unauthorized access to any part of the Platform or other users’ accounts
Use the Platform to transmit unsolicited commercial communications
Use bots, scrapers, or automated systems to access or collect data from the Platform without our written consent
Engage in any activity that disrupts, damages, or impairs Platform performance
Use the Platform to develop a competing product or service

6. Inventory and Product Listings

6.1 Accuracy

All diamond and jewelry listings on the Platform, including but not limited to carat weight, color, clarity, cut, shape, certification, and pricing, are provided in good faith. Innovation Diamonds takes reasonable steps to ensure accuracy but does not guarantee that all information is free of errors.

6.2 Availability

Inventory availability is subject to change without notice. A listing on the Platform does not constitute a binding offer to sell. All transactions are subject to confirmation by Innovation Diamonds.

6.3 Certification

Grading reports and certificates displayed on the Platform are issued by third-party laboratories. Innovation Diamonds is not responsible for grading errors made by issuing laboratories. Buyers are encouraged to verify certificates directly with the issuing laboratory.

6.4 IGI and “Grown in USA” Certification

Products displayed with the “Grown in USA” designation are grown in the United States. This designation is certified by IGI, and the IGI certificate number is the authoritative reference for all origin and grading claims.

7. Orders and Transactions

7.1 Order Process

Inquiries and orders placed through the Platform are subject to availability, KYC verification, and formal confirmation by Innovation Diamonds. No order is binding until confirmed in writing by Innovation Diamonds.

7.2 Pricing

Prices on the Platform are listed in USD unless otherwise indicated. Prices are subject to change without notice. All prices are exclusive of applicable taxes, customs duties, insurance, and shipping costs unless otherwise stated.

7.3 Payment Terms

Payment terms are as agreed between Innovation Diamonds and the client in the applicable trade agreement or invoice. Innovation Diamonds accepts payment via bank wire transfer and other methods as agreed. Payment by credit card may be subject to additional processing fees.

7.4 No Consumer Sales

The Platform does not facilitate sales to end consumers. All transactions are strictly B2B. Innovation Diamonds does not offer consumer return or refund rights under the Platform.

8. Shipping and Logistics

8.1 Shipping Methods

Diamonds and jewelry are shipped via secure, insured carriers including Brinks, Malca-Amit, FedEx International, and DHL Express, depending on destination and value.

8.2 Insurance and Risk

All shipments are insured. Risk of loss passes to the buyer upon delivery to the carrier unless otherwise agreed in writing. Innovation Diamonds recommends clients maintain their own insurance coverage for high-value goods.

8.3 Customs and Import

The buyer is responsible for all import duties, customs clearance, and compliance with local import regulations. Innovation Diamonds will provide accurate commercial invoices and all required export documentation. Kimberley Process certificates are not applicable to laboratory-grown diamonds.

9. Intellectual Property

All content on the Platform including text, graphics, images, diamond photography, video, logos, trademarks, and the “PinkOne” brand name are the property of Innovation Diamonds Ltd. or its licensors and are protected by Israeli and international intellectual property laws.

You may not reproduce, distribute, modify, create derivative works from, or publicly display any Platform content without our prior written consent.

Platform technology and underlying infrastructure are owned by or licensed from Virtual Diamond Boutique, Inc. and are protected by VDB’s intellectual property rights.

10. User-Submitted Content

If you submit any content to the Platform including inventory data, images, or company information, you grant Innovation Diamonds a non-exclusive, worldwide, royalty-free license to use, display, and distribute that content for the purpose of operating the Platform and providing the services to you.

You represent and warrant that you own or have the necessary rights to all content you submit, and that such content does not infringe any third-party rights.

11. Compliance – AML and KYC

By using the Platform, you agree to:

Comply with all applicable anti-money laundering (AML) and counter-terrorism financing (CTF) laws and regulations
Provide accurate and complete KYC documentation as requested by Innovation Diamonds
Not use the Platform to facilitate transactions in sanctioned goods or with sanctioned persons or entities
Notify Innovation Diamonds immediately if you become aware of any suspicious activity related to transactions on the Platform

Innovation Diamonds reserves the right to report suspicious transactions to relevant authorities as required by law.

12. Privacy

Your use of the Platform is subject to our Privacy Policy, which is incorporated into these Terms by reference. Our Privacy Policy describes how we collect, use, share, and protect your personal data, and sets out your rights under applicable law. You can find our Privacy Policy at [LINK TO PRIVACY POLICY].

13. Third-Party Services and Links

The Platform may contain links to or integrations with third-party websites, services, or platforms (including IGI certificate verification tools, logistics tracking portals, and the VDB marketplace). Innovation Diamonds is not responsible for the content, privacy practices, or terms of any third-party service. Your use of third-party services is at your own risk and subject to the terms and policies of those third parties.

14. Disclaimer of Warranties

THE PLATFORM IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.

Innovation Diamonds does not warrant that:

The Platform will be uninterrupted, error-free, or secure
Diamond or jewelry listings are free from errors in pricing, weight, or grading data
The Platform will meet your specific business requirements

15. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, INNOVATION DIAMONDS AND ITS DIRECTORS, OFFICERS, EMPLOYEES, AND AGENTS SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES ARISING FROM YOUR USE OF OR INABILITY TO USE THE PLATFORM, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

IN NO EVENT SHALL INNOVATION DIAMONDS’ TOTAL LIABILITY TO YOU FOR ANY CLAIMS ARISING FROM THESE TERMS OR YOUR USE OF THE PLATFORM EXCEED THE GREATER OF: (A) THE TOTAL AMOUNT PAID BY YOU TO INNOVATION DIAMONDS IN THE THREE (3) MONTHS PRECEDING THE CLAIM, OR (B) USD $500.

Nothing in these Terms limits liability for death or personal injury caused by negligence, fraud, or any other liability that cannot be excluded under Israeli law.

16. Indemnification

You agree to indemnify, defend, and hold harmless Innovation Diamonds and its directors, officers, employees, and agents from and against any claims, liabilities, damages, losses, and expenses (including reasonable legal fees) arising from:

Your violation of these Terms
Your use of the Platform
Any content you submit to the Platform
Your violation of any applicable law or third-party rights

17. Governing Law and Disputes

These Terms are governed by the laws of the State of Israel, without regard to conflict of law principles. The courts of Tel Aviv-Yafo, Israel, shall have exclusive jurisdiction over any dispute arising from these Terms or your use of the Platform.

For users located in the European Union: Nothing in this clause affects your rights under mandatory consumer protection laws applicable in your country of residence.

18. Changes to These Terms

We reserve the right to modify these Terms at any time. Material changes will be communicated via email to registered users or by a notice on the Platform. Your continued use of the Platform after changes take effect constitutes your acceptance of the updated Terms. It is your responsibility to review these Terms periodically.

19. Severability and Waiver

If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall remain in full force. Our failure to enforce any right or provision of these Terms does not constitute a waiver of that right or provision.

20. Entire Agreement

These Terms, together with our Privacy Policy and any additional agreements or order confirmations executed between you and Innovation Diamonds, constitute the entire agreement between you and Innovation Diamonds with respect to the Platform, superseding all prior agreements or understandings.

21. Contact

For questions about these Terms:

Innovation Diamonds Ltd.

Israel Diamond Exchange, Ramat Gan, Israel

Email: legal@innovationdia.com

These Terms of Use were last updated on March 8, 2025. Please check this page regularly for updates.