Entrupy Financial Guarantee Policy (Luxury Authentication)
Entrupy aims to ensure that our customers only deal in authentic items. We stand behind the Entrupy Certificate, and the authenticity of any item certified by Entrupy is backed by a one-year Financial Guarantee.
If you believe that an Entrupy verified item may not be authentic, please open a dispute request per our formal process detailed below. Once your dispute request is approved, we will complete the dispute process as promptly as possible, typically within ten (10) business days after the disputed item is received by Entrupy.
For the purposes of the financial guarantee, Entrupy reserves a window of 15 minutes during Entrupy business hours (10AM to 7PM Eastern Time, Monday through Saturday, excluding holidays), to invalidate authentication results and certificates. The financial guarantee may not be claimed for these items.
Entrupy Dispute Process:
- Within the Entrupy app, mark the item in question for a Dispute.
- Complete the Financial Guarantee Application Form with all required information and documents. You will be informed of potential Dispute Fees that may be incurred and the Financial Guarantee Payments that may be due to you, per the dispute findings.
- The Entrupy team will reach out to you to inform you if the claim form has been provisionally accepted, or if further information is required.
- If the Financial Guarantee Application Form has been provisionally accepted, we will supply you with a shipping label for you to ship the item to us.
- During a Dispute, our team will re-authenticate the item. We will also have the item authenticated by one, or multiple, reputable independent experts, depending on the claim value of the item being disputed.
- If the Dispute confirms that Entrupy had correctly assessed the item as Authentic, you will be charged Dispute Fees (per below Table 2) and we will ship the item back to you.
- If the Dispute confirms that Entrupy had incorrectly assessed the item as Authentic, Entrupy will issue a Financial Guarantee Payment to you (per below Table 1). Entrupy will retain possession of the item if a payment on the claim is made.
The chart below summarizes the outcomes of the Entrupy Dispute process:
|Entrupy Dispute Findings||Outcome|
|Authenticity not confirmed||
Who can open a dispute and claim the Financial Guarantee?
- Entrupy’s direct customers may claim the Financial Guarantee for items authenticated with their own Entrupy account and displaying their name on the Entrupy Certificate, for which they have a proof of purchase in their name. Only the Certificate Holder, as listed on the Entrupy certificate, may open a dispute.
- The Certificate holder must have ownership of the disputed item at the time of the dispute.
Can I transfer the Financial Guarantee to another party?
- Currently Entrupy Certificates and the Financial Guarantee may not be transferred to any third parties.
How long is the Financial Guarantee valid?
- The Financial Guarantee is valid to Entrupy’s direct customers for a period of one year from the original authentication result. It is not extendable for periods beyond one year.
What is covered by the Financial Guarantee Payment?
- We will request documentation from you to substantiate proof of procurement and the price that you paid for the item.
- We will compare the price that you paid for the item against the prevailing market rate for items of similar style, age and condition, by referencing publicly available sources. If the documented purchase price is significantly higher than the prevailing market rate, we reserve the right to pay the lower market value.
- For international customers: shipping costs to send the item to Entrupy, as agreed upon in advance, are covered.
- No other fees, charges, or costs associated with the item are covered. Any costs incurred by the Certificate Holder or their customers, including other shipping and third party authentication services, are expressly not covered by the Financial Guarantee.
- For transactions in foreign currency (non-USD), the Financial Guarantee will be paid in local currency when possible or at the exchange rate at time of payment.
How does the Financial Guarantee apply to consignment or marketplace sales?
- Entrupy will pay 100% of the value of any commissions paid or due to your consignor, in respect of the final sale of an Entrupy authenticated item to an end-customer.
- We will request documentation from you to substantiate proof of consignment, customer sale and payout to your consignor.
- You must have rights over the bag. If the consigner still has claim to the item, it cannot be disputed.
What counts as Proof of Purchase
- A Proof of purchase must demonstrate clearly the amount claimed, identify the item being disputed as being the item related to said payment, and show that the party making the payment is the Certificate Holder.
- This may be a combination of documents that may include, but is not limited to:
- A purchase receipt
- A loan agreement
- A consignment contract
Entrupy initially issued an Authentic result for this item, but it is now showing to be Unknown. Can I claim a Financial Guarantee?
- In rare circumstances, Entrupy may change the authentication result for an item, and we will immediately notify you in such cases.
- For the purposes of the Financial Guarantee, Entrupy reserves a window of 15 minutes during Entrupy business hours (10AM to 7PM Eastern Time, Monday through Saturday, excluding holidays), to invalidate authentication results and certificates. The Financial Guarantee may not be claimed for these items.
How is the Financial Guarantee paid?
- Financial Guarantee Payments are made via wire transfer.
Can I challenge the findings of the Dispute process?
- The findings of the Entrupy Dispute process are final.
Table 1: Entrupy Financial Guarantee Payments:
|Entrupy direct customer (transaction type)||Financial Guarantee Payment
(in the event of Authenticity being not confirmed)
|Outright purchase||100% of the documented purchase price paid by you for the item *|
|Pawn loan||100% of the documented loan value paid by you for the item *|
|Consignment or marketplace transaction||100% of the value of any commissions paid or due to your consignor for the item *|
|Donation or Authentication as a Service||Entrupy will pay you $100.00|
* Entrupy will compare the price that you procured the item against the prevailing market rate for items of similar style, age and condition, by referencing publicly available sources. If the documented procurement price is significantly higher than the prevailing market rate, Entrupy reserves the right to set a lower Financial Guarantee Payment based on the prevailing market value.
Table 2: Entrupy Dispute Fee:
|Quoted Financial Guarantee Payment||Entrupy Dispute Fee
(in the event of of Authenticity being re-confirmed)
|Between $500.00 and $1000.00||$175.00|
*International shipping fee will be charged separately.