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1. General terms
In order to request a refund, the Contracting Party’s customer must contact the Contracting Party’s directly, according to the contractual provisions established in the agreement signed between the said parties.
The information provided regarding purchase issues should be true and reliable. False and inaccurate information may invalidate refund eligibility. If the Contracting Party is not able to properly identify a customer or transaction, then the refund can’t be processed.
It is the Contracting Party’s customer responsibility to maintain a record of all communications. This includes weblogs, emails, tracking numbers, delivery confirmation, proof of prior refunds, and replacement shipments. When the buyer submits these files, they must be legible. If necessary, the Contracting Party’s customer should use bold text to identify pertinent information. Utrust advises providing clear and accurate evidence to the Contracting Party. Any illegible text or data that is submitted will be considered incomplete and it will be unable to undergo review.
The Contracting Party’s customer shall be able to, in a timely manner, cooperate with the Contracting Party and Utrust.
Utrust may facilitate refunds on the Merchant’s behalf. The Merchant may decide to issue a partial or full refund amount of the initial purchase.
As soon as the Contracting Party initiates the refund, the proper amount will be sent through the Utrust platform.
The Contracting Party’s customer will provide the address to where the refund will be sent to. The Contracting Party’s customer has to be absolutely certain that its address was typed correctly. A single missed digit could mean that the refund will be sent to another address. Since transactions cannot be reversed it’s crucial to double-check everything.
The refund process can only start after a detected payment transaction is confirmed.
Utrust will be responsible for executing any Refund derived from non-complete transactions, as described in the payment exceptions section below.
2. Payment exceptions
2.1. Underpayment
Underpayment occurs when the Contracting Party’s customer sends less than the full amount required to mark the order as paid. Since the order is not fully paid or complete, the funds are not sent to the Contracting Party. Utrust will send an email notification to the Contracting Party’s customer explaining the refund process and asking to provide the address to where Utrust can send the refund.
For 2 hours from the time the payment process is initiated, Utrust monitors the blockchain in an attempt to detect the transaction(s) and the following confirmation. Please bear in mind that, if you made more than one transaction, the first transaction has to be detected within 1 hour.
All the transactions detected after the order expiration will be marked as “payment detected after order expiration”. Within 24 hours, all late detected and confirmed transactions will be refunded together; after this period of time, all confirmed transactions will be refunded individually (initiated after the confirmation of each transaction).
Once the refund is completed, Utrust will send an email notification to the Contracting Party’s customer confirming the refund.
2.2. Overpayment
An overpayment occurs when the Contracting Party’s customer sends more than the full amount required to mark the order as paid. Once the payment is confirmed, the funds will be transferred to the Contracting Party.
In order to refund the exceeding amount, Utrust will send an email notification to the Contracting Party’s customer explaining the refund process and asking to provide the address to which Utrust can send the refund.
The refund will be automatically triggered by Utrust for the exceeding amount received.
Once the refund is completed, Utrust will send an email notification to the Contracting Party’s customer confirming the refund.
2.3. Payment detected after order expiration
Payment detected after order expiration occurs when the transaction is detected after 1 hour, or when it is detected within 1 hour but confirmed after 2 hours.
Within 24 hours, all late detected and confirmed transactions will be refunded together; after this period of time, all confirmed transactions will be refunded individually (initiated after the confirmation of each transaction).
The refund will be automatically triggered by Utrust for the full amount received.
Utrust will send an email notification to the Contracting Party’s customer explaining the refund process and asking to provide the address to where Utrust can send the refund.
Once the refund is completed, Utrust will send an email notification to the Contracting Party’s customer confirming the refund.
2.4. Order cancellation
Order cancellation occurs when the Contracting Party’s customer cancels the order during the payment process.
Within 24 hours, all the detected and confirmed transactions will be refunded together; after this period of time, all confirmed transactions will be refunded individually (initiated after the confirmation of each transaction).
The refund will be automatically triggered by Utrust for the full amount received.
Utrust will send an email notification to the Contracting Party’s customer explaining the refund process and asking to provide the address to where Utrust can send the refund.
Once the refund is completed, Utrust will send an email notification to the Contracting Party’s customer confirming the refund.
3. Reimbursement requirements
Utrust is not responsible for the Contracting Party refund policies. We recommend the Contracting Party to provide a clear refund policy to their Contracting Party’s customers (i.e. exceptions, advice, and specific terms).
Refunds take place within 6 months after the order expires.
Minimum refund amount corresponds to the minimum possible amount in fiat currency.
4. Recommended resolution
For complete payments, here are a couple of ways of resolving an issue:
a) Deciding on a friendly resolution. This is always the preferred option for both parties. The Contracting Party’s customer should resolve the problem directly with the Contracting Party in accordance with their return/refund policy. It is the Contracting Party’s responsibility to keep track of the Contracting Party’s established deadlines. The Contracting Party might require the Contracting Party’s customer to take certain actions. If the Contracting Party’s customer fails to meet merchant conditions, he or she may not receive the refund.
b) Opting for special refunds. The Contracting Party may opt to appeal for a different kind of refund such as a non-documented refund.
5. Refund Amount
If the Contracting Party and the Contracting Party’s customers reach an agreement on the refund, the Contracting Party will initiate the process and the Contracting Party’s customer will receive the agreed amount of the payment. The transaction, mining, and network fees will be subtracted from the final amount. The refund amount is transferred in crypto and corresponds to the agreed amount in fiat, converted using the exchange rate fixed at the time the Contracting Party’s customer provides the refund address.
The Contracting Party is liable for the amount Utrust will reimburse the Contracting Party’s customer. Please keep in mind that Utrust is not obliged to reimburse the fees or any other costs associated with the transaction.
Please note that for every payment exception mentioned in section 6.2., the total refund amount equals the exact amount received in cryptocurrency.
6. Failed payment
Failed payments occur when the payment transaction fails due to reasons other than the payment exceptions mentioned in section 6.2. This usually results from invalid or rejected transactions sent to the blockchain or due to fraud detection systems flagging the origin address. Other legal or technical matters can also be responsible for this.