Solfin Sustainable Finance Private Limited

Solfin Sustainable Finance Private Limited (Formerly Known as Dhanvikas Fiscal Services Private Limited) ("SSFPL") being a NBFC uses the Payment Gateway for Loan collection and disbursements to our customers. In the event a request for refund is made by the customer for duplicate, incomplete or rejected transactions the customer agrees that SSFPL shall refund such amounts as may be decided by SSFPL in its sole discretion from time to time. It does not allow for refunds or cancellations except for circumstances laid out in the policy below.

1. Policy

1. (a)Refund can only be initiated if SSFPL has received the excess amount in its Bank Account.
   1. i.Amount once paid through the payment gateway shall not be refunded other than in the following circumstances: Multiple times debiting of Customer's Card/Bank Account due to technical error or Customer's account being debited with an excess amount in a single transaction due to technical error. In such cases, an excess amount, excluding Payment Gateway charges, would be refunded to the Customer.
   2. ii.Due to a technical error, payment is being charged on the Customer's Card/Bank Account but the transaction is unsuccessful.
2. (b)In case the Borrower has paid the stamp duty and processing fee but the loan agreement has been cancelled or the sanction revoked, then to the extent the expense on stamp duty has not been incurred, and a reasonable processing fee shall be refunded after deducting a reasonable transaction charge.
3. (c)In both the cases mentioned above technical error would have to be established or is evident from the facts of the case.
4. (d)The Customer will have to make an application for a refund along with the unique transaction number and original payment receipt, if any, generated at the time of making payments.
5. (e)The Company can also prepare a list of refunds using its internal processes and checks. The same can be refunded by the company directly to the customer's account. Such a refund shall be approved by operations and finance.
6. (f)The application in the prescribed format should be sent to customercare@solfin.co.in.
7. (g)The application will be processed manually and after verification, if the claim is found valid, the amount received in excess will be refunded by SSFPL through electronic mode in favour of the borrower and confirmation sent to the mailing address given to us or in our records or loaded in his customer account, within a period of 14 calendar days on receipt of such claim. It will take 3–7 days for the money to show in your bank account depending on your bank's policy. Our endeavour would be to reduce this time as we move forward.
8. (h)The company assumes no responsibility and shall incur no liability if it is unable to affect any Payment Instruction(s) on the Payment Date owing to any one or more of the following circumstances: If the Payment Instruction(s) issued by you is/are incomplete, inaccurate, and invalid and delayed.
   1. i.If the Payment Account has insufficient funds/limits to cover for the amount as mentioned in the Payment Instruction(s).
   2. ii.If the funds available in the Payment Account are under any encumbrance or charge.
   3. iii.If your Bank refuses or delays honouring the Payment Instruction(s).
   4. iv.Circumstances beyond the control of Company (including, but not limited to, fire, flood, natural disasters, bank strikes, power failure, systems failure like computer or telephone lines breakdown due to an unforeseeable cause or interference from an outside force).
   5. v.In case the payment is not effected for any reason, you will be intimated about the failed payment by an e-mail and/or SMS and/or communication loaded in your customer account.
9. (i)User agrees that the Company, in its sole discretion, for any or no reason, and without penalty, may suspend or terminate his/her account (or any part thereof) or use of the Services and remove and discard all or any part of his/her account, user profile, or his/her recipient profile, at any time. Company may also in its sole discretion and at any time discontinue providing access to the Services, or any part thereof, with or without notice. User agrees that any termination of his/her access to the Services or any account he/she may have or portion thereof may be effected without prior notice and also agrees that Company will not be liable to User or any third party for any such termination. Any suspected, fraudulent, abusive, or illegal activity may be referred to appropriate law enforcement authorities. These remedies are in addition to any other remedies Company may have at law or in equity. Upon termination for any reason, the user agrees to immediately stop using the Services.
10. (j)The company may elect to resolve any dispute, controversy, or claim arising out of or relating to this Agreement or Service provided in connection with this Agreement by binding arbitration in accordance with the provisions of the Indian Arbitration & Conciliation Act, 1996. Any such dispute, controversy or claim shall be arbitrated on an individual basis and shall not be consolidated in any arbitration with any claim or controversy of any other party. Jurisdiction for all legal actions shall lie in Gurgaon, Haryana.
11. (k)The customer can escalate the issue to Grievance Redressal Officer of the NBFC whose details are mentioned on the website.
12. (l)Customers should take utmost care while making payments using the payment gateway(s). On occasions of server related issues like "slow down", or "failure" or "session time out" etc. the users shall check before initiating the second payment, whether their bank account has been already debited or not.
    1. i.In case the Bank account appears to be debited already, it has to be ensured that the user does not make the payment twice.
    2. ii.Immediately thereafter contact SSFPL via e-mail or any other mode of contact and get confirmation of payment from them.
    3. iii.If the bank account is seen as not debited, the user may initiate a fresh transaction to make payment.

2. Communication

This policy shall be hosted on the Website of SSFPL used for Loan origination and servicing. The customer shall be informed at least once a year of this policy through email or any other medium deemed suitable.