A Completed Buy

Commissions are paid on completed buys only. In order for a commission to be earned on any buy at Leo Hamel Fine Jewelers, the transaction MUST meet the criteria of a completed buy as per this policy.

Definition – A buy is a buy when it is “complete.”

A buy is complete when:

1. It is fully paid for and in the hands of the buyer.
2. The VIP Referral Reward form is completed if applicable.
3. A picture of the buy is taken with check, items, and ID showing.
4. The buy slip has been fully completed and turned in.
5. A marketing survey is completed and enclosed in the buy.
6. A completed buying sheet is included in the buy for each type of item that was purchased.
7. A thank you card is sent to the customer or customer decline noted.
8. The buy portal is fully updated with all important data such as research, buy notes, demographics info on the customer, and all data is correct.
9. The buy is properly organized, noted and all necessary stock ID(s) are completed.
10. All the above is done on the day that the item is bought, or by 10am the following day on any day except Thursdays. On Thursdays, it must all be done by the time you leave for the day.

Number 1, 2 and 3 mean exactly what they say.

Number 4 means the correct name, current address and phone number of the customer are on the buy slip. The description and price are correct on the buy slip. The slip is mailed to the police.

Number 5 means that a marketing survey form must be completed in full and included in the buy, with the orange copy of the buy slip (see PL Buyers, Surveys Required).

Number 6 means the buying sheet detailing each item that was purchased is completed and included in the buy.

Number 7 see PL Buyers, Thank You Notes to Buy Customers.

Number 8 means the buy number is created and the buy portal fully updated.

Creating the buy right away is ideal. If you are so busy that you can’t do it right then, then jot down the key points so you don’t forget and update the computer by the end of the day or by 10am the following day at the latest. On Thursdays, it has to be done before you leave for the day.

THE COMPUTER IS UPDATED THE DAY OF THE BUY OR BY 10AM THE FOLLOWING MORNING on any day other than Thursday. ALWAYS.

Number 9 means the buy is logically organized, labeled, all notes are complete and legible. ALL the data pertaining to the buy itself are included. All stock IDs are completed for the buy in Business Mind.

This is a crucial step! There are specific requirements for how a buy should be organized, noted and given stock IDs. If these criteria are not satisfied, the buy is not complete.

Refer to policy “Buyers, Organization, Notes, and Stock IDs.”

This step is the most important to helping your items sell on time and for maximum value. Cutting corners with organization and notes WILL cause extra work and problems for your coworkers down the line. Every error, or incomplete part of a buy, slows down other parts of the company and this is simply not necessary and means that the buy is not complete.

Number 10 means that all of the above need to be done on the day of the buy, or by 10am the following day on any day except Thursday. It is not to be done later. The above makes a competed buy. Anything less is not a completed buy. Commissions are paid ONLY on “completed buys.” No commissions are paid on incomplete buys. (If it is discovered at a later date that the buy was not complete, the commission will be deducted from the current week.)

This is not a change in policy. This is not a penalty. This is keeping in force the policy that you earn commissions on completed buys only.

The reason for this policy is that incomplete buys waste company resources through unnecessary additional work.

Any manager who is paid on commission based on the buys of their juniors or their department will also NOT be paid on any buy that is not a “completed buy” exactly per this policy.

So the simple rule is this: If a buy is not completed, per the above eight points, the buy will not be eligible for commission. There should be no more discussion, changes, or gripes about this policy. If you did not earn a commission due to an incomplete buy, please graciously accept that you made a mistake, learn from it, and move on. Any attempt to complain or sulk will be grounds for disciplinary action.