Fawter Merchant Refund Policy Requirements

Fawter understands the importance of providing a clean, well-lit platform where consumers of invoices ("Consumers") have full disclosure of the terms of their purchase and where those terms meet certain minimum requirements. For that reason, Fawter has created the following requirements governing the refund policies of merchants of paid invoices ("Merchants") issued on Fawter (the "Refund Policy Requirements").

The rights and obligations contained in these Refund Policy Requirements are in addition to and are incorporated into the Terms of Service by reference.

1. Refund Policies and Administration

1.1. Minimum Requirements

We understand that refund policies vary depending on the type of invoice, goods, services and products and the Merchant. Because of that, we provide flexibility for Merchants to post their own policies with respect to their events, so long as they meet the following minimum requirements:

1.1.1. Refund policies must be posted on the applicable event page;

1.1.2. “No refund” policies are permissible, but must be clearly identified as such and must otherwise comply with these minimum requirements;

1.1.3. Refund policies (including “no refund” policies) must provide for a refund or other make good for failure to provide the advertised goods and services (e.g., event cancellation);

1.1.4. Refund policies must be in accordance with all applicable local, state, provincial, national and other laws, rules and regulations, including all requirements imposed by Card Schemes or Alternative Form of Payment Frameworks (each as defined in the Merchant Agreement);

1.1.5. Refund policies must include specific instructions on how to obtain a refund, including how, when and where to direct a refund request;

1.1.6. Refund policies may not be changed with respect to purchases made prior to the date of such change and its posting to the applicable event page;

1.1.7. Refund policies must set out a specific time frame within which refund requests will be responded to, which should not exceed five (5) business days for a first response; and

1.1.8. Refund policies must otherwise be fair and reasonable.

If a refund policy is not posted or does not meet these minimum requirements set forth above, Fawter may (but has no obligation to) modify such refund policy such that it meets these minimum requirements. Such modification may take the form of prospectively making changes to the Merchant's posted refund policy on the applicable event page or retroactively applying such changes at the time of a dispute, chargeback and/or refund request.

1.2. Refund Process

In order to initiate a refund request, Fawter instructs Consumers to contact the Merchant directly as set forth in the Merchant’s applicable refund policy. Merchant agrees to administer its refund policy in accordance with the terms set forth on the applicable invoice and the minimum requirements set forth in Section 1.1 and its sub-sections above.

When a Consumer requests a refund and the Merchant does not respond by either refunding or denying the request after seven (7) days, Fawter may execute the refund on behalf of the Merchant.

1.3. Fawter Review

In the event that Merchant fails to honor a refund that a Consumer believes is due under the applicable refund policy and/or the minimum requirements set forth above, that Consumer may request that Fawter initiate a refund by contacting us. Fawter will review the facts and circumstances and determine whether or not a refund is due in accordance with the applicable refund policy and the minimum requirements set forth above. Fawter will endeavor to complete its review within thirty (30) days of being contacted by the Consumer. Consumers should note that if payments were made directly to the Merchant using payment methods outside of Fawter's control, Fawter will not have control of the funds and Fawter will not be able to obtain your refund. All determinations by Fawter with respect to these Refund Policy Requirements, including without limitation the orders to be refunded and the size of any refund, shall be final and binding on both Merchant and Consumer.

1.4. No Insurance or Guarantee

These Refund Policy Requirements are not intended to be and do not constitute an offer to insure the performance of or to guarantee the performance of any Merchant and are not a guarantee that refunds will be issued in any given situation.