Common use of Refunds/Returns Clause in Contracts

Refunds/Returns. 29.1. The Clauses, Sections, and Subsections of this Clause were developed for the purpose of reducing financial and legal risks of the Principal, observance of Client right to receive a refund and/or return of their funds (hereinafter also referred to as: ‘Withdrawal’, wherever applicable), and in counteraction of money-laundering, forgery, and the financing of terrorist activity. 29.2. The Principal adopts a high priority policy in reimbursing its clients whenever a valid amount of money is requested, as long as the Client meets the Principal’s withdrawal requirements. 29.3. The Client may submit a withdrawal request through their account on the Principal’s Trading Platform, as long as they meet the Principal’s withdrawal qualifications. Such qualifications include, but are not limited to: 29.3.1. Being deemed fully KYC compliant as determined by the Principal’s Compliance Department and adhering to any additional documentation request or requirement by any third-party institution the Principal may deal with in order to process such a transaction; 29.3.2. Not requesting credited funds, fees, bonuses, or funds given by or owed to the Principal; and 29.3.3. Not requesting funds above the Client’s account’s capabilities (i.e., not need for margin purposes); 29.3.4. Having no open positions in the account. 29.4. All withdrawal requests are subject to a comprehensive review by the Principal and are liable for cancellation upon the discretion of the Principal. 29.5. Any balance of the Client’s money, both deposited funds and profits, not required for margin purposes, can be furnished to the Client as expediently as possible. 29.6. Deposited funds and Profits (i.e., funds garnered from the results of successful trading measures and positions exceeding the amounts initially deposited) will be furnished as one transaction and be returned in the same manner that they were accepted from, at the time of the input of funds, whenever possible. 29.6.1. In some cases–and depending on method used in order to finance the account; profits (i.e., funds garnered from the results of successful trading measures and positions exceeding the amounts initially deposited) will be furnished as a separate transaction from deposited funds and be sent via the Client’s alternative payment method of choice if applicable. 29.6.2. Said return methods can at times be issued back via the credit/debit card used to make the initial deposit (as a single complete transaction), if allowed or required by the third-party remitters the Principal works with. 29.7. Wire transfers can be used for reimbursements as well, however, may incur bank handling fees in addition to any charges assessed by the financial and banking institutions used to process the transfer. 29.7.1. As the Client is liable for all such charges, the final amount received may differ from the original amount requested. 29.8. If needed the Principal may request from the Client alternative payment methods, whenever the Principal is unable to allocate funds back to the original or requested method or for the execution profits. 29.8.1. Such requests will come from the Principal’s Support or Compliance Department. 29.8.2. Clients are obligated to respond to such requests to avoid cancellation of their withdrawal requests after a period determined by the Principal’s Compliance Department. 29.9. Ultimately, the method through which funds are sent out is at the Principal’s discretion. 29.10. Processing times will vary depending on when the request is submitted and how the request is sent out. 29.10.1. Typically, the time frame for a withdrawal to be executed is between 3 to 5 business days; however, said number should not be construed as the norm. 29.10.2. Processing times include the Principal’s reviewal of said request, the Principal’s own processing time of the request from its systems, as well as processing times from the individual third-party financial remitters and institutions from which they are sent. 29.10.3. Since the third-party financial institutions are the ultimate transmitters of a withdrawal of funds, the Principal is therefore not liable and holds no responsibility nor influence over the processing times of said third-party processors, banks, etc. 29.11. The Principal does not cancel realized commercial transactions from the Client yet reserves the right to return money to the sender, if within ninety (90) consecutive days from the moment of replenishment, activity is not recorded on the trading account (dormant/inactive account). 29.12. The Principal reserves the right that returned funds will be sent through any and all applicable payment systems, including, but not limited to: credit/debit cards, wire transfer, e-wallets or any other payment methods the Principal may employ. Thus, the return of money will be executed on electronic platforms. 29.13. In the event that the Principal classifies the activity of the Client as inappropriate or contradicting to this Agreement, the Principal reserves the right to reject any request of a return of funds, without informing the Client beforehand. 29.14. The Principal reserves the right to block entrance to the Client’s account, freeze the current balance of the Client, as well as send money back to the Client, following the payment of all services and commissions. 29.15. The Principal will take all necessary measures to prevent and block both deposit and withdrawal requests by unauthorized third parties from the Client’s account. Input and output requests of money from the account can be conducted only by the owner of that particular account. 29.16. The Principal holds the right to cancel, update, and modify any part of this Clause at their sole discretion to ensure legality and productivity. 29.17. For further information regarding the refund and return procedure, please contact us at ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇

Refunds/Returns. 29.1. The Clauses, Sections, and Subsections of this Clause were developed for the purpose of reducing financial and legal risks of the Principal, observance of Client right to receive a refund and/or return of their funds (hereinafter also referred to as: ‘Withdrawal’, wherever applicable), and in counteraction of money-laundering, forgery, and the financing of terrorist activity. 29.2. The Principal adopts a high priority policy in reimbursing its clients whenever a valid amount of money is requested, as long as the Client meets the Principal’s withdrawal requirements. 29.3. The Client may submit a withdrawal request through their account on the Principal’s Trading Platform, as long as they meet the Principal’s withdrawal qualifications. Such qualifications include, but are not limited to: 29.3.1. Being deemed fully KYC compliant as determined by the Principal’s Compliance Department and adhering to any additional documentation request or requirement by any third-party institution the Principal may deal with in order to process such a transaction; 29.3.2. Not requesting credited funds, fees, bonuses, or funds given by or owed to the Principal; and 29.3.3. Not requesting funds above the Client’s account’s capabilities (i.e., not need for margin purposes); 29.3.4. Having no open positions in the account. 29.4. All withdrawal requests are subject to a comprehensive review by the Principal and are liable for cancellation upon the discretion of the Principal. 29.5. Any balance of the Client’s money, both deposited funds and profits, not required for margin purposes, can be furnished to the Client as expediently as possible. 29.6. Deposited funds and Profits (i.e., funds garnered from the results of successful trading measures and positions exceeding the amounts initially deposited) will be furnished as one transaction and be returned in the same manner that they were accepted from, at the time of the input of funds, whenever possible. 29.6.1. In some cases–and depending on method used in order to finance the account; profits (i.e., funds garnered from the results of successful trading measures and positions exceeding the amounts initially deposited) will be furnished as a separate transaction from deposited funds and be sent via the Client’s alternative payment method of choice if applicable. 29.6.2. Said return methods can at times be issued back via the credit/debit card used to make the initial deposit (as a single complete transaction), if allowed or required by the third-party remitters the Principal works with. 29.7. Wire transfers can be used for reimbursements as well, however, may incur bank handling fees in addition to any charges assessed by the financial and banking institutions used to process the transfer. 29.7.1. As the Client is liable for all such charges, the final amount received may differ from the original amount requested. 29.8. If needed the Principal may request from the Client alternative payment methods, whenever the Principal is unable to allocate funds back to the original or requested method or for the execution profits. 29.8.1. Such requests will come from the Principal’s Support or Compliance Department. 29.8.2. Clients are obligated to respond to such requests to avoid cancellation of their withdrawal requests after a period determined by the Principal’s Compliance Department. 29.9. Ultimately, the method through which funds are sent out is at the Principal’s discretion. 29.10. Processing times will vary depending on when the request is submitted and how the request is sent out. 29.10.1. Typically, the time frame for a withdrawal to be executed is between 3 to 5 business days; however, said number should not be construed as the norm. 29.10.2. Processing times include the Principal’s reviewal of said request, the Principal’s own processing time of the request from its systems, as well as processing times from the individual third-party financial remitters and institutions from which they are sent. 29.10.3. Since the third-party financial institutions are the ultimate transmitters of a withdrawal of funds, the Principal is therefore not liable and holds no responsibility nor influence over the processing times of said third-party processors, banks, etc. 29.11. The Principal does not cancel realized commercial transactions from the Client yet reserves the right to return money to the sender, if within ninety (90) consecutive days from the moment of replenishment, activity is not recorded on the trading account (dormant/inactive account). 29.12. The Principal reserves the right that returned funds will be sent through any and all applicable payment systems, including, but not limited to: credit/debit cards, wire transfer, e-wallets or any other payment methods the Principal may employ. Thus, the return of money will be executed on electronic platforms. 29.13▇▇.▇▇. In ▇▇ the event that the Principal classifies the activity of the Client as inappropriate or contradicting to this Agreement, the Principal reserves the right to reject any request of a return of funds, without informing the Client beforehand. 29.14. The Principal reserves the right to block entrance to the Client’s account, freeze the current balance of the Client, as well as send money back to the Client, following the payment of all services and commissions. 29.15. The Principal will take all necessary measures to prevent and block both deposit and withdrawal requests by unauthorized third parties from the Client’s account. Input and output requests of money from the account can be conducted only by the owner of that particular account. 29.16. The Principal holds the right to cancel, update, and modify any part of this Clause at their sole discretion to ensure legality and productivity. 29.17. For further information regarding the refund and return procedure, please contact us at ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇