Refund & Cancellation Policy
(Section 8 Company – Fair Practices Aligned)
QuickFund Micro Finance (“Company”, “we”, “us”, “our”) is incorporated as a Section 8 Company under the Companies Act, 2013, operating on a not-for-profit basis with the objective of financial inclusion and socio-economic development.
This policy outlines the terms governing refunds, cancellations, and service-related charges, in line with applicable laws, RBI fair practice principles, and ethical governance standards.
For refund or cancellation requests, please contact:
📧 quickfundmicrofinance@gmail.com
📧 support@quickfundmicrofinance.com
1. General Principles
2. Application & Service Fees
2.1 Cancellation Before Service Initiation
- If a request is cancelled before initiation of verification, documentation, or assessment, the refundable portion of the fee (if any) shall be returned.
- Payment gateway or actual administrative charges may be deducted.
2.2 Cancellation After Service Initiation
- Once verification, KYC, field assessment, documentation, or third-party checks have begun, fees become non-refundable, as costs are immediately incurred.
- This is consistent with fair-practice principles allowing recovery of actual expenses.
3. Financial Assistance / Loan-Related Services
- Upon approval or disbursement of financial assistance, no refund of fees shall be permitted.
- All financial arrangements are governed strictly by the service agreement or loan agreement executed with the beneficiary.
- Prepayment or early closure, if permitted, shall be governed by the agreement terms and applicable regulatory norms.
4. Digital Services & Online Access
This applies to portals, dashboards, reports, learning tools, or digital financial resources.
- Cancellations are permitted only before digital access is activated.
- Once access is provided, no refunds shall be applicable.
- Any extension of access is at the sole discretion of the Company.
5. Non-Refundable Situations
Refunds shall not be applicable in cases including but not limited to:
- Services already rendered or partially rendered
- Incorrect, misleading, or incomplete information provided by the user
- Failure to submit required documents within stipulated timelines
- Non-usage of services after activation
- Delays caused by the user or beneficiary
6. Refund Processing Timeline
- Approved refunds (if applicable) will be processed within 10–15 working days.
- Refunds will be credited to the original mode of payment only.
7. No Transfer of Fees
- Fees paid are non-transferable between individuals or applications.
- Each request or beneficiary is evaluated independently.
8. Modification of Policy
QuickFund Micro Finance reserves the right to modify this policy in accordance with:
- Changes in law or regulatory guidance
- Board resolutions
- Operational requirements
The policy applicable on the date of transaction shall govern that transaction.
9. Cancellation or Modification by the Company
The Company may cancel, delay, or modify services due to:
- Regulatory or statutory requirements
- Incomplete documentation
- Operational or technical constraints
- Force majeure events
In such cases, liability is limited strictly to refundable amounts, if any, as per law.
10. Grievance Redressal
If you are dissatisfied with any refund or cancellation decision, you may raise a grievance through our Grievance Redressal Mechanism, available on our website.
Unresolved grievances may be escalated to appropriate statutory authorities, as applicable.
