This Refund and Cancellation Policy (“Policy”) governs the subscription and use of RZOLUT’s SaaS-based Anti-Money Laundering (“AML”) name screening solution (“Service”). This Policy forms an integral part of the Master Subscription Agreement (“Agreement”) executed between the customer and the subscribing client (“Client”).
By subscribing to the Service, the Client acknowledges and agrees to the following terms:
1. General Principles
- The Service is subscription-based and delivered on a license-to-use model.
- Subscription fees represent access to the platform, infrastructure, ongoing updates, data enrichment, and compliance support provided by RZOLUT.
- Given the nature of the Service (including data usage, screening costs, infrastructure, and compliance obligations), all subscription fees are strictly non-refundable.
2. Refund Policy
- No Refunds: All fees paid, whether monthly, quarterly, or annually, are non-refundable once invoiced and/or collected.
- Non-Usage: Failure to access or utilize the Service does not entitle the Client to any refund, credit, or adjustment.
- Partial Termination: Early cancellation of the Service does not release the Client from the obligation to pay for the full billing term.
- Payment Errors: In the rare case of duplicate payments or billing errors caused solely by the customer, corrections will be made in the form of:
- A credit note against future invoices, or
- An adjustment in the next billing cycle.
- Refund will be issued in 7 business days.
- No Cash Refunds: Refunds in cash, wire transfer, or reversal to a credit card/bank account will not be provided unless mandated by law or mutually agreed.
3. Cancellation Policy
- Notice Period: The Client may cancel their subscription by providing a minimum of thirty (30) days’ prior written notice before the end of the subscription term.
- Form of Notice: Cancellations must be submitted in writing via email to [designated contact email] and must include:
- Client name,
- Subscription ID/contract reference, and
- Requested termination date.
- Acknowledgment: A cancellation is considered valid only upon written acknowledgment of receipt by [Company Name].
- Automatic Renewal: If a valid cancellation notice is not received at least thirty (30) days before the end of the subscription term, the subscription will be automatically renewed for an additional term of equal length on the same commercial and contractual terms.
4. Effect of Cancellation
- Access to Service: The Client will retain access to the Service until the end of the current billing cycle. No partial access or refunds for unused days will be provided.
- Outstanding Fees: The Client remains liable for all fees, charges, and taxes accrued up to the effective date of cancellation.
- Data Retention and Deletion:
- Client data will be retained for a period of 90 days post-cancellation, after which it will be permanently deleted in accordance with RZOLUT’s Data Retention and Privacy Policy.
- The Client is responsible for exporting any required reports or data before the end of this retention period.
5. Exceptions
Refunds, credits, or extensions may be considered only under the following limited circumstances:
- System-Wide Downtime: Prolonged, unscheduled downtime of the Service (exceeding [5] consecutive business days).
- Billing Errors: Erroneous charges directly caused by RZOLUT’s billing system.
- Legal Requirement: If local laws mandate refunds under specific consumer protection frameworks.
Any remedies provided under this section shall be at [Company Name]’s sole discretion and limited exclusively to subscription credits.
6. Modifications to Policy
- RZOLUT reserves the right to modify this Policy at any time, provided that:
- Such modifications will not retroactively affect existing billing cycles, and
- Clients will be notified of substantive changes at least thirty (30) days in advance.
7. Governing Law and Jurisdiction
- This Policy shall be governed by and construed in accordance with the laws of India.
- Any disputes arising out of or in connection with this Policy shall be subject to the exclusive jurisdiction of the courts of New Delhi.