Noor Oriental Rugs, Inc. Policy of Donation Exchangeability

 

Noor Oriental Rugs, Inc. is in compliance with all federal regulations regarding donation and tax law.  Your understanding and observation of our policy is appreciated and helps us to preserve honesty and integrity in the marketplace.  Exchangeability is a courtesy offered by Noor Oriental Rugs. Respect for our policy allows us to maintain exchangeability as a privilege to our customers.  Noor Oriental Rugs reserves the right to designate which portions of our collection are available by exchange.  Thank you for your cooperation. 

 

·        The winner of a Noor Rug or Noor certificate should schedule an appointment with Mohammad Nooraee and indicate his or her intent to redeem his or her option of exchange.   He or she must provide a copy of the Noor Certificate, the federal ID tax number of the non-profit organization, and a letter from the non-profit organization disclosing the amount paid by the recipient and declaring that Noor Oriental Rugs, Inc. received no goods and/or services in exchange for donation.  Additionally, the winner ought to be prepared to provide Noor Oriental Rugs with contact information and any relevant correspondences. 

 

·        Auction-winners of a Noor rug are only entitled to receive products or services to the extent that they have actually paid to the non-profit organization.  Winners of gift certificates are entitled to products or services up to the stated amount on the gift certificate.  In cases where a rug is won by raffle, the non-profit organization has been provided with the store price of the rug.  Raffle-winners are entitled to receive products or services up to the amount of the store price of a rug, as disclosed by Noor Oriental Rugs and the non-profit organization.   

 

·        Due to the nature of the market, rugs may carry different wholesale, retail, or insurance values.  Noor Oriental Rugs, Inc has been authorized by the New England Appraisers’ Association to appraise rugs at their insurance value.  Noor Oriental Rugs, Inc. provides certificates of appraisal of the insurance value to be used exclusively for the purpose of insurance.  Appraisal certificates are inconsequential to exchangeability. 

 

·        In accordance with IRS regulations, all transactions related to a Noor donation including, but not limited to exchange, must be completed by December 20th of the respective year.  After that date any un-redeemed certificates or the option of exchangeability become null and void.

 

·        The auction-winner is responsible for payment of any freight, taxes, and/or custom-house duties where applicable. 

 

·        There is no “even-exchange”.  The winner must pay any price difference between his or her redeemable certificate and the selected rug(s).  Additionally the re-stocking service fee (15% of the selected rug’s price) must be paid for independently from the customer’s donation credit.  Winners may only exchange their rugs for rugs of equal value or upgrade to rugs of higher value.

 

·        The option of exchangeability may not be used in conjunction with any other sales or promotional offers.