Gem memo agreement template
Use this as a starting point for the written terms when stones go out on memo. It is a practical template, not legal advice. Have a lawyer in your country review it before you rely on it.
Want this handled automatically?
GemColony keeps memos, consignments and stock records in one system, with every stone's history.
Learn moreGem memo agreement
1. Parties
Owner (sender): name, business, address, phone
Holder (recipient): name, business, address, phone
2. Stones
The owner delivers to the holder the stones listed in the schedule below, on the date shown. The holder confirms receipt and the condition of each stone.
3. Ownership
The stones remain the property of the owner at all times. The holder may not sell, pledge, lend or otherwise dispose of them, or show them to any third party, unless the owner agrees in writing.
4. Period
Date delivered: ____________
Return or payment due by: ____________
5. Risk and insurance
From delivery until the stones are returned or paid for, the holder bears the risk of loss, theft and damage and is responsible for keeping the stones secure. Insurance to be arranged by: ☐ Owner ☐ Holder.
6. Sale
If the holder wishes to buy a stone, or sells it with the owner's written agreement, the holder will pay the agreed price shown in the schedule within ____ days of the sale.
7. Return
Stones not purchased will be returned by the due date in the same condition as received. Any stone not returned or paid for by the due date will be treated as sold to the holder at the agreed price.
8. Governing law and disputes
Governing law and place of resolution: ____________________________
9. Signatures
Owner: ____________________ Date: ____________
Holder: ____________________ Date: ____________
Schedule of stones
| No. | Stock no. | Description | Weight (ct) | Photo / report no. | Agreed price |
|---|---|---|---|---|---|
| 1 | |||||
| 2 | |||||
| 3 | |||||
| 4 | |||||
| 5 | |||||
| 6 | |||||
| 7 | |||||
| 8 |
Frequently asked questions
Is this memo agreement legally binding?
It can form part of an agreement between the parties, but enforceability depends on your country's law. Have a local lawyer review it.
How do I track stones on memo?
Record each memo against the stones and the holder. GemColony shows which stones are out, with whom and for how long, and converts a memo to a sale in one step.