1. Introduction

   Skydo Technologies Private Limited ("Skydo") is committed to ensuring customer satisfaction by providing clear, efficient, and transparent refund processes. This Policy outlines the procedures and conditions for handling customer refund requests for Skydo's various services, including its cross border payment services and other value added services. It ensures consistent, efficient, and fair resolution of refund requests while adhering to regulatory requirements.

   The capitalized terms used in this Refund Policy, but not defined in this Refund Policy, shall have the meaning given to such terms in the terms and conditions on the website of the Company ("Terms & Conditions") and privacy policy of the Company ("Privacy Policy").

2. Objective

   The objective of this Refunds Policy ("Policy") is to:

   • Ensure Transparency: Provide a clear and consistent process for handling refund requests.
   • Improve Customer Satisfaction: Enhance customer experience by resolving refund issues promptly and fairly.
   • Ensure Compliance: Comply with legal and regulatory requirements related to refunds and consumer rights.
   • Minimize Errors and Fraud: Implement controls to reduce the risk of errors and fraudulent refund claims.
   • Facilitate Record-Keeping: Maintain accurate records of all refund transactions for audit and compliance purposes.
3. Scope

   This Policy applies to all refund requests related to Skydo's various services, including its cross border payment services and other value added services. It includes guidelines for refund eligibility, request submission, approval processes, and record-keeping. This policy covers refunds initiated by individual customers, business clients, partners and refunds initiated owing to Skydo's internal policies and procedures.

4. Key Definitions
   • Refund: The return of funds by Skydo on account of a transaction that is subsequently terminated, cancelled or found to be erroneous and will include any refund to an overseas payor or any refund for any value added services provided by Skydo.
   • Customer or Exporter or Beneficiary: An individual or business entity, based in India with whom Skydo has entered into an arrangement for providing any services including any value added services, cross-border inward remittances, dashboard or other services.
5. Refund Eligibility Criteria

   Return of funds to the source happens in the following cases-

   • Erroneous funds transfer to an account
   • Business use case not supported by Skydo or its partners
   • Request by the payer to return funds
   • Skydo ceasing to provide or terminating the relevant services
   • Skydo cannot materially provide the services
   • Skydo cancels a transaction due to a violation of its terms and conditions or a Suspicious/Fraudulent activity
6. Refund Ineligibility

   Skydo will not be able to refund if:

   • The payee has already received the funds in the linked Indian Bank Account.
   • The reason for the refund request is related to the recipient's bank or financial institution.
   • The payor falsely claiming for a refund.
   • The services have been provided to the payee.
   • The services are non-cancellable or of a fixed term.
7. Refund Process for cross border payments
   1. Request for Additional Information:
      • For refunds initiated by Skydo's partners or by Skydo, Skydo will request additional information and document proofs from the payee to ensure compliance with regulatory requirements and Skydo's risk policies before processing the refund.
   2. Review and Decision:
      • Once the requested documents and information are reviewed, Skydo's compliance team, and / or its partner's compliance team will decide whether the provided documents are sufficient to process the refund. This decision will be based on compliance with regulatory requirements and Skydo's internal policies.
   3. Processing Refund:
      • The refund will be processed from Skydo's local account to the source account using the same payment method used for the original transaction.
   4. Communication:
      • Skydo will keep the customer informed of the refund process, including the decision-making, initiation, completion of the refund, or failure to process the refund.
   5. Alternate Payment Methods:
      • If the original payment method fails for the refund, Skydo will use alternate payment methods to attempt the refund.
   6. Alternate methods of refund: Alternate Bank Account Verification:
      • If the refund fails using all available payment methods, Skydo will inform the customer, and the refund can be retried by-
        1. Recall request from the paying party via the sending bank to Skydo's partner bank.
        2. Letter of indemnity from sending bank to receiving bank stating alternate methods/accounts for refund payment.
        3. Proof documents specified by Skydo to establish the correct source of payment where refund can be reinitiated.
   7. Holding Refunds:
      • If the payor is unable to provide alternate details, Skydo will hold the payment until the required details are shared and verified. Skydo will report the situation to its partners and relevant regulatory bodies.
   8. Refund charges:
      • The payee shall bear all charges in connection with refund or chargeback and the payee agrees that any fees and charges will be non-refundable. The payee agrees that Skydo may set off any amount owed by the payee to Skydo or its partners from any other amounts of the payee held with Skydo, as determined by Skydo in its sole discretion.
   9. Refund of payments made using payment links:
      • Notwithstanding anything to the contrary, for any payments made using the payment links for ACH debit shall not be refunded unless the same is initiated by the sender of the funds. Any payee who raises a refund request or if Skydo, after due process decides not to settle the amount to the beneficiary account owing to any internal policies and procedures, then refund of such payments made using payment links shall be made only after the sender initiates a recall request from bank to which the source account belong.
      • Skydo shall not be responsible to refund any amount until a valid recall request is received by it from the bank to which source account belong to.
8. Refund Process for other Skydo services
   1. Request for Additional Information:
      • For refunds requested by a recipient of any services, Skydo will request additional information and document proofs from the customer to verify any refund due.
   2. Review and Decision:
      • Once the requested documents and information are reviewed, Skydo will decide whether the provided documents are sufficient to merit a refund. This decision will be based on due review of all evidence and internal requirements.
   3. Processing Refund:
      • The refund will be processed from Skydo's local account to the source account using the same payment method used for the original transaction.
   4. Communication:
      • Skydo will keep the customer informed of the refund process, including the decision-making, initiation, completion of the refund, or failure to process the refund.
9. Approval Process

   The approval process or refund initiation process for each of the refund eligibility scenario is detailed below:

   Refund Process Scenarios and Approval Steps

   Scenario	Process
   Erroneous funds transfer to an account	This would apply in case of the provision of the cross border payment services. Customer reaches out to the Customer Support team with a refund request. Payment Operations team reviews and initiates refund.
   Business use case not supported by Skydo or its partners	This would apply in case of the provision of the cross border payment services. Compliance team identifies the transaction to be non-compliant and informs the Payment Operations team to initiate a refund.
   Request by the payer to return funds	This would apply in case of the provision of the cross border payment services. Payer reaches out to the Customer Support team with a refund request. Payment Operations team reviews and initiates refund.
   Skydo ceasing to provide or terminating the relevant services	Skydo informs the service recipient that it has ceased or will cease to provide the services. Skydo team will evaluate any refund entitlement based on the terms of the agreement and received services. Payment Operations team reviews and initiates refund.
   Skydo cannot materially provide the services	Skydo informs the service recipient that it cannot provide the services. Skydo team will evaluate any refund entitlement based on the terms of the agreement and received services. Payment Operations team reviews and initiates refund.
   Skydo cancels a transaction due to a violation of its terms and conditions or a Suspicious/Fraudulent activity	Skydo identifies the transaction to be fraudulent. Compliance team blacklists the account on Skydo and provides any applicable refund.

10. Handling Disputes and Chargebacks

    For the cross-border transactions, Skydo doesn't support/entertain refund request by the payors for any disputes between the payors and the payees. Any dispute between the payors and the payees are not the responsibility of Skydo and is not governed by this refund policy.

11. Review

    This Policy will be reviewed periodically to ensure it remains aligned with best practices, regulatory requirements, and Skydo's evolving business needs.

12. Record Keeping

    Skydo will maintain records of all refund requests and their resolutions for a minimum period as required by regulations.

For any questions or additional support, please contact Skydo help desk at +91-7026000500 or support@skydo.com.