CGC’s Guarantee Conditions and Limitations.
Guarantee Conditions and Limitations
An owner of a CGC-certified Collectible (“Owner”) who believes that
- the Collectible (other than a print, sketch, or photograph) is not genuine (unless stated otherwise on the CGC label);
- the designated witnessed signature on a Collectible is not genuine; or
- the CGC-certified card is overgraded;
shall submit it for evaluation under CGC’s free “Appearance Review” service. It is not necessary to be a CGC member to submit a Collectible for Appearance Review.
To submit a Collectible for Appearance Review, Owner shall furnish Guarantor with all supporting documents, including receipts, that Owner’s claim relies on. If Guarantor determines, in its sole reasonable opinion, that Owner is entitled to a remedy under this Guarantee, Guarantor will offer a remedy as set forth below.
Guarantor is committed in all cases to proposing a fair and reasonable remedy. If Owner does not accept such remedy, the Collectible will be removed from the CGC holder and returned to Owner along with a payment of the grading fees originally paid to grade the Collectible and any reasonable shipping expenses incurred in returning the Collectible for correction. Under no circumstances will (i) a Collectible that has been determined to be not genuine be returned in a CGC holder that describes or implies that it is genuine or (ii) a Collectible that has been determined to be overgraded or mis-described be returned in a CGC holder with an incorrect label.
Remedies for Collectibles that are Not Genuine or (in the Case of Cards Only) Are Overgraded. If Guarantor determines, in its sole reasonable opinion, that
- the Collectible (other than a sketch, print, or photograph) is not genuine (unless stated otherwise on the CGC label);
- a designated witnessed signature on the Collectible is not genuine; or
- the correct grade for the CGC-certified card is lower than the one assigned on the CGC label;
then Guarantor will offer one of the three remedies described below. The choice of remedy will be made by Guarantor in its sole discretion, and the remedies are subject to the further limitations set forth below. Current Fair Market Value is determined solely by Guarantor as described in each of the listed remedies and the “Fair Market Value” paragraph that follows.
- For Cards Only: Guarantor shall (a) return the card to Owner encapsulated with a label indicating the newly established correct (lower) grade and (b) pay to Owner the difference between the current Fair Market Value of an accurately graded card at the original incorrect (higher) grade and the current Fair Market Value of the card at the newly established correct (lower) grade.
- Guarantor may purchase the Collectible from Owner. Guarantor will pay the lesser of
- the Declared Value of the Collectible as stated by Owner on the submission form for Appearance Review;
- the Fair Market Value of an accurately graded, genuine Collectible at the original grade; or
- the amount actually paid for the Collectible by Owner in an actual arm’s length transaction, plus any postage, shipping or other incidental expenses incurred by Owner in submitting the Collectible for Appearance Review service.If Owner was also the original submitter of the Collectible for certification, then the compensation, if any, will not exceed the Declared Value of the Collectible either when originally submitted for certification or when submitted for Appearance Review.
- Alternatively, Guarantor may retain the submitted Collectible and provide to Owner in its place an equivalent Collectible that is genuine and has the same grade as originally assigned to the submitted Collectible.
Important Limitation: Under no circumstance will compensation be paid in instances where Owner has suffered no actual damages as a result of the error in certification or in reliance on the Guarantee.
The above are the exclusive remedies provided under this Guarantee. By making a claim under this Guarantee, Owner agrees to the exclusive remedies provided above and waives its right to all other remedies including, without limitation, through litigation.
Fair Market Value. Guarantor will determine, if and as necessary, and in its sole reasonably exercised discretion, the current “Fair Market Value” of the Collectible if it were to be sold. Guarantor will determine the current Fair Market Value of a Collectible based upon what Guarantor believes, in its sole reasonably exercised opinion, to be reliable current market information. Guarantor may use actual pricing and sales information available to it, including prices in the actual transaction history of the Collectible in question. However, due to the volatile nature of the market and Internet auctions/sales as well as the differences in buying habits of different individuals, such information may not necessarily represent the accurate current Fair Market Value of any particular Collectible, which again, will be determined by Guarantor in its sole reasonably exercised discretion. In determining the Fair Market Value, Guarantor will not be bound by the values included within any CGC Price Guide.
