Terms

DRAFT FOR REVIEW. This is the draft Service Agreement of Vintage Grail Global Limited, which operates Grail Exchange. When you open an account or send a request, you accept the version shown here; the final version will be published on this page.

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Watch Handling and Logistics Service Agreement

Service Provider: Vintage Grail Global Limited (“Vintage Grail”). This Agreement remains in effect for one (1) year from the date of acceptance or signing, unless terminated earlier in accordance with its terms. For each watch, Vintage Grail records the brand and model, the serial number, the declared value, the date received and the initial condition report reference.

2.1 Scope of Services

The Client shall select a service package from Annex A (Service Rate Card), which specifies the applicable services and fees. Vintage Grail shall handle the Watch in accordance with the selected package and the procedures set out in Schedule 1 (Watch Handling and Logistics Process). Any service not expressly included in the selected package shall require a separate written agreement between the parties, including agreement on the applicable fees and scope of work.

2.2 Fees and Payment Terms

Vintage Grail shall issue an invoice for the applicable service fees. Unless otherwise stated in the invoice or agreed in writing by the parties, the Client shall pay the invoiced amount within seven (7) calendar days from receipt of the invoice, in accordance with the payment instructions provided by Vintage Grail.

2.3 Late Payment and Retention of the Watch

Any overdue amount shall accrue interest at twelve percent (12%) per annum until fully paid, subject to applicable law. To the extent permitted by applicable law, Vintage Grail may retain possession of the Watch until all outstanding fees and other amounts properly due under this Agreement have been settled.

2.4 Watch Condition Reports

Vintage Grail shall document the apparent condition of the Watch upon receipt and, where applicable, upon completion of the agreed services. The Client shall review each condition report and notify Vintage Grail in writing of any dispute or discrepancy within twenty-four (24) hours of receipt of the report.

If no written dispute is received within that period, the report may be relied upon as evidence of the Watch’s documented condition, subject to any applicable legal requirements and evidence of a latent defect or other condition that could not reasonably have been identified during the review period.

Any repair, restoration, adjustment, or other remedial work shall require a separate written agreement specifying the scope of work, fees, and applicable terms.

2.5 Responsibility for Loss, Damage, or Theft

Vintage Grail’s responsibility for the Watch shall commence upon its documented receipt and end upon its documented handover to the designated delivery company or courier.

During that period, Vintage Grail shall be liable for loss of, damage to, or theft of the Watch only to the extent directly caused by Vintage Grail’s proven gross negligence or wilful misconduct, subject to applicable law and the limitations set out in this Agreement.

Unless otherwise agreed in writing, Vintage Grail shall not be responsible for loss, damage, or delay occurring during transit or while the Watch is in the custody or control of a third-party delivery company, except to the extent such loss or damage is attributable to Vintage Grail’s own acts or omissions for which it is legally responsible.

2.6 Limitation of Liability

Subject to applicable law, Vintage Grail’s aggregate liability arising out of or in connection with the loss of, damage to, or theft of the Watch shall not exceed the lower of: (a) the declared value of the Watch recorded upon receipt by Vintage Grail; and (b) [maximum liability amount to be confirmed].

The declared value shall be provided by the Client and recorded in the Watch Information or in an accompanying receipt or condition report acknowledged by the parties.

To the extent permitted by applicable law, Vintage Grail shall not be liable for pre-existing conditions, inherent defects, normal wear and tear, or loss or damage occurring outside its custody and control for which it is not legally responsible.

Nothing in this Agreement shall exclude or restrict any liability that cannot lawfully be excluded or restricted under applicable law.

2.7 Insurance

The Client shall be responsible for ensuring that the Watch is adequately insured for its full market value, including appropriate coverage for the risks associated with its handling, storage, and transportation.

Upon the Client’s written request, Vintage Grail may assist in arranging insurance coverage, subject to the availability and terms of the relevant insurance provider. All premiums, fees, and related costs shall be borne by the Client and agreed upon before the insurance is arranged.

Unless expressly confirmed in writing, Vintage Grail does not represent that the Watch is insured under its own insurance policy or that any insurance arranged on the Client’s behalf covers all risks or the full market value of the Watch.

2.8 Uncollected Watches and Storage

Vintage Grail may specify a maximum storage period for the Watch (the “Holding Period”), which shall be no shorter than thirty (30) calendar days. The applicable Holding Period and its commencement date shall be communicated to the Client in writing.

The Client shall arrange and pay for the delivery or collection of the Watch within the Holding Period. If the Client fails to do so, Vintage Grail shall notify the Client in writing and provide a further period of at least twenty-four (24) hours after the Holding Period expires to arrange and pay for delivery or collection.

If the Client fails to respond or make the necessary arrangements within the applicable period, Vintage Grail may take reasonable further steps to recover outstanding charges and arrange for the Watch’s continued storage, return, or other lawful disposition, subject to applicable law and any additional notice or procedure required by law.

Vintage Grail shall not dispose of the Watch or treat it as abandoned except in accordance with applicable law. Any reasonable storage, delivery, or other costs incurred in connection with an uncollected Watch shall be payable by the Client, provided such costs have been properly communicated and are legally recoverable.

2.9 Confidentiality

Each party shall keep confidential all non-public information received from or relating to the other party in connection with this Agreement, including information concerning the Watch, its ownership, declared value, condition, security arrangements, and the services provided.

Neither party shall disclose such information to any third party without the other party’s prior written consent, except where disclosure is reasonably necessary to perform this Agreement or is required by law, a competent authority, or a professional adviser subject to appropriate confidentiality obligations. This clause shall survive the expiry or termination of this Agreement.

2.10 Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the Hong Kong Special Administrative Region. Any dispute arising out of or in connection with this Agreement shall be resolved in accordance with the applicable laws and procedures of the competent courts or other dispute-resolution forum, as may be agreed in writing by the parties.

Annex A and Schedule 1

Annex A (Service Rate Card) is available to account holders in My account. Schedule 1 (Watch Handling and Logistics Process) is described on our How it works and Sending a watch pages.

Version: Service Agreement v1 (draft, 24 Oct 2026).