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.