Inspection in the gem and jewellery trade is the practice of sending a stone, parcel of stones or finished piece to a customer for physical review before any purchase commitment, on terms that allow return without penalty if the goods are not bought. The arrangement is sometimes called "memo", "consignment for inspection" or simply "sending for approval", and remains the default mechanism by which dealers move material to trade buyers and to retailers presenting goods to private clients.

An inspection arrangement is not a sale. Title remains with the consignor, the consignee carries the goods at agreed terms and is liable for loss while in possession, and the goods must be returned within a stated period, commonly seven, fourteen or thirty days, unless converted to a sale. Memo terms typically address insurance, who bears shipping costs, the price at which the consignee may resell, the form of acknowledgement on receipt, and the treatment of damage in transit.

The practical importance of inspection is that high-value coloured stones and diamonds cannot be assessed reliably from images and reports alone. Cut, light return, transparency, hue under different illumination and the visual character of inclusions all require an eye on the goods. Inspection terms allow that physical assessment without forcing a buyer to commit funds before they have seen what they are buying.