Refund Terms and Conditions for Research Analyst Services
Effective Date: [09th Oct 2024]
Applies To: Paid clients of Vipin Sharma (SEBI Registered Research Analyst – INH000018540)
1. Cases Where Refund Will NOT Be Provided
A client shall not be entitled to any refund in the following circumstances:
a. Services Rendered as Described
No refund shall be applicable if the Research Analyst has delivered services as per agreed terms and the client is dissatisfied without any breach or deficiency in service.
b. Inability to Provide Services Due to Uncontrollable Circumstances
If service delivery is affected due to technical issues, operational failures, or factors beyond the RA’s control, no refund shall be provided. However, the service period may be extended at the sole discretion of the RA, if disruption exceeds 10 continuous days.
c. Force Majeure Events
No refund will be granted if service disruption arises from events beyond control—such as natural disasters, pandemics, or regulatory restrictions—as long as such exclusions are included in the service agreement.
d. Completion of Subscription Period
No refund shall be provided if the client has completed the full subscription term, regardless of usage.
e. Partially Utilized Services Without Formal Termination
If the client stops availing services without formally requesting termination, no refund is due. A written notice, including the reason for termination, must be submitted at least 10 days in advance to initiate the client deboarding process.
f. Partial Month Usage
Refunds will be provided only for fully unutilized months.
Example: If a client subscribes on 1st Feb 2025 for 3 months and terminates on 10th March, no refund for March will be given. Only April will be considered for refund.
g. Market Losses or Dissatisfaction with Results
Refunds cannot be claimed due to losses, poor returns, or adverse market conditions. The RA does not guarantee any profit.
h. Breach of Terms & Misuse
- The client misuses research reports
- Provides fraudulent KYC
- Violates SEBI rules or terms & conditions
i. No Free Trials Offered
In accordance with SEBI RA Regulations and Code of Conduct, we do not offer free trials or demo services of any kind.
j. Regulatory Non-Compliance by Client
No refund will be granted if the client is found in breach of SEBI guidelines or misuses reports in unauthorized ways (e.g., sharing on public platforms).
k. Voluntary Opt-Out Without Reason
If the client exits the services voluntarily without valid justification and documentation, no refund shall be entertained.
l. Non-Refundable Charges
Fees such as onboarding charges, administrative fees, or documentation costs, if specifically marked as non-refundable, will not be refunded.
2. Cases Where Refund Will Be Provided
a. Pre-Mature Termination by Client
If the client discontinues the subscription before the expiry of the agreed period—and provided it doesn’t fall under the non-refundable cases above—a refund will be made for the unexpired period (full months only).
b. Pre-Mature Termination by RA
If the Research Analyst discontinues services before the subscription period ends, the client will be refunded for the unexpired period on a pro-rata basis.
c. Regulatory Action Against RA
If SEBI or RAASB suspends or cancels the RA’s registration, clients will be automatically refunded the balance unutilized amount without the restrictions mentioned in section 1(e) and 1(f).
d. Double Payment / Overcharge
In the event of double billing or fee charged beyond the SEBI-mandated cap (₹1,51,000 per annum per family), the excess amount shall be refunded.
e. Centralized Fee Collection (CeFCoM) Refunds
If the client opts for CeFCoM and later cancels, the refund will be processed through the CeFCoM mechanism in line with SEBI protocols.
3. Refund Request & Processing Terms
- Written Request: Refunds must be requested via email or other official communication mode, with valid reasoning.
- Timeline: Refunds will be processed within 30 calendar days of approval.
- Mode of Refund: Refunds will be made to the original payment method (e.g., UPI, Bank Transfer). Cash refunds are not permitted.
- Documentation: Clients must cooperate in providing documents requested for refund processing.
Important Note
By subscribing to our services, you acknowledge and agree to the above refund terms. All disputes, claims, or legal proceedings arising out of or in connection with the services provided shall be subject to the exclusive jurisdiction of the competent courts at Lucknow, Uttar Pradesh.