RETURN & REFUND POLICY
VIZZVE MICROSEVA FOUNDATION
(A Section 8 Company incorporated under the Companies Act, 2013)
Last Updated: 08 January 2021 (As amended)
OVERVIEW
This Return & Refund Policy is an electronic record under the Information Technology Act, 2000 and rules made thereunder. This electronic record is generated by a computer system and does not require any physical or digital signature.
This Policy governs refunds, reversals, cancellations, and adjustments in relation to services provided by VIZZVE MICROSEVA FOUNDATION (“VIZZVE”, “we”, “us”, “our”) through its website, mobile application, KYC application, or any other platform.
By accessing, registering, applying, or availing any service from VIZZVE, you (“User”, “Borrower”, “You”) agree to be bound by this Policy along with the Terms & Conditions and Privacy Policy.
DEFINITIONS
● Company / VIZZVE: Vizzve Microseva Foundation, Bengaluru, Karnataka
● User / Borrower: Any person who applies for or avails services from VIZZVE
● Service: Loan facilitation, credit assessment, underwriting, verification, disbursement support, repayment servicing, or related financial services
● Platform: Website, mobile app, KYC app, or any VIZZVE-operated system
NATURE OF SERVICES (IMPORTANT)
VIZZVE provides financial and loan-related services, not physical goods.
Accordingly:
● There is no concept of “return” of services once rendered
● Processing, verification, underwriting, and compliance actions are irreversible once initiated
NO RETURN OF SERVICES
● VIZZVE does not offer returns on any service rendered
● Once a loan application is submitted and processing begins, services are deemed consumed
● No return, reversal, or cancellation is permitted after service initiation
NO REFUND POLICY (GENERAL RULE)
Unless explicitly required by law or stated below:
● No refunds are issued for:
○ Application fees
○ Processing fees
○ Service charges
○ Credit assessment costs
○ Verification or underwriting fees
○ Disbursed loan amounts
Once any amount is credited or service is rendered, refunds are not permitted.
LIMITED REFUND / REVERSAL SCENARIOS (EXCEPTION ONLY)
1. Duplicate Payment
If the same payment is made twice due to technical error, excess amount may be reversed after verification.
2. Failed or Reversed Transaction
If payment is debited but not received due to technical failure, reversal shall occur as per bank/payment gateway timelines.
3. Loan Not Disbursed
If loan is not disbursed due to internal or regulatory reasons and limited services were consumed, partial refund (if applicable) may be processed at VIZZVE’s discretion after deductions.
NO REFUND AFTER DISBURSEMENT
Once loan amount is disbursed:
● No refund shall be permitted
● Any repayment is treated as loan repayment, not refund
● Prepayment or foreclosure shall be governed strictly by loan terms
BANK ACCOUNT & TRANSACTION RESPONSIBILITY
● Borrowers must provide accurate bank details
● VIZZVE is not liable for losses due to incorrect details or third-party banking failures
NO CASH REFUNDS
● Approved refunds, if any, will be processed only through the original payment method
● Cash refunds are strictly prohibited
NO EXCHANGE OF SERVICES
Financial services once rendered cannot be exchanged, substituted, or transferred.
MISUSE & FRAUD PREVENTION
● False or malicious refund requests shall be rejected
● Misuse may result in account suspension, loan recall, credit bureau reporting, or legal action
PROCESSING TIME (IF APPLICABLE)
Approved refunds, if any, shall be processed as per statutory timelines and banking norms. VIZZVE does not guarantee timelines controlled by third parties.
CHANGES TO THIS POLICY
VIZZVE reserves the right to amend this Policy at any time. Continued use of the platform constitutes acceptance of the updated Policy.
YOUR CONSENT
By using VIZZVE’s services, you expressly consent to this Return & Refund Policy and waive any refund claims except as explicitly stated herein.
