Refund Policy

This Refund Policy explains when a charge arises on the Scriphouse platform, an Eximfiles product, and when it is returned. It forms part of the Agreement and is incorporated into the Terms of Service. Capitalised terms have the meanings given in Section 1 of the Terms.

Where this Policy and the Terms address the same subject, the Terms prevail. Nothing in this Policy creates a right of return, a cooling-off period, or a cancellation right that the Terms do not confer, and nothing in it limits Section 19 of the Terms.

There are no subscriptions, listing fees, or minimums. A fee arises only when a trade settles, so in the ordinary case there is nothing to refund because there is nothing to charge. On the first settled trade on each Importer Exporter Code, once per Importer Exporter Code and not once per User account, no commission and no processing fee is charged on the sell leg and no spread is taken on the buy leg. The consideration for the Scrip itself remains payable.

• No settlement, no fee. An offer that lapses unaccepted, an order that does not complete, and an instruction that unwinds each create no charge, and so require no refund.
• Priced before you commit. The fee on a sell leg and the spread on a buy leg are shown in full before you accept an offer or approve a cover. You are never charged an amount you were not shown first.
• Papered on completion. Every settled trade produces a GST invoice and a net-realisation statement, so the amount charged is on the record and can be checked against this Policy.

Settlement is delivery versus payment, as Section 5 of the Terms sets out: the buyer's funds are secured before a Scrip moves, the transfer executes on the Electronic Duty Credit Ledger, and the payout is released against confirmation of that transfer.

Once that sequence completes the trade is final and irreversible. It cannot be recalled, reversed, unwound, cancelled, or refunded, and there is no cooling-off period on a completed trade. This follows from the instrument itself and is not a commercial preference: Regulation 7(2) of the Electronic Duty Credit Ledger Regulations, 2021 provides that the duty credit is transferred at one time for the entire amount in the e-scrip, and the customs ledger records a completed transfer as a completed transfer.

Because funds are secured before any Scrip moves, a settlement that cannot complete never leaves money or a Scrip stranded in transfer. Where an instruction fails, it unwinds, the buyer is refunded in full, and any fee provisionally raised on that trade is reversed with it. You are not charged for a trade that did not complete.

Refunds are returned to the account the funds came from. We do not redirect a refund to a different account, and this is a control rather than an inconvenience: it is what prevents the refund path being used to move value between parties.

We initiate the return as soon as the instruction fails. Credit to your account then depends on the banks, payment system operators, and payment partners in the path, including their cut-off times, holidays, and clearing cycles, which are outside our control and are addressed in Section 26 of the Terms. We do not warrant an elapsed time for a credit we do not control.

The following do not entitle either party to a refund, a top-up, a price adjustment, or an unwind. They are set out expressly so that expectations are set before a trade rather than after one.

• Price movement. A change in the price of duty credit after your trade settles. Your economic entitlement is fixed by the price you accepted, as Section 5 of the Terms provides.
• Change of mind. A buyer that has covered a Bill of Entry, and a seller that has been paid, have each taken a final and binding act.
• An outcome under your own parameters. Where a trade was executed under a standing configuration such as Autopilot or Auto-Cover within the guard-rails you set, it was performed on your authority. Acting within your parameters is performance of the Agreement, whatever the market does afterwards.
• A failure caused by your own dealing. Where an instruction fails because the Scrip was transferred, utilised, applied against a Bill of Entry, encumbered, or otherwise dealt with outside the Services while that instruction was live, or because a credential or authority needed to complete it was revoked or allowed to lapse, the instruction failed by your act. Section 5 of the Terms governs what is then payable to us, and this Policy confers no refund in that case.
• Duties a Scrip cannot pay. A duty-credit Scrip discharges the duties of customs specified in the First Schedule to the Customs Tariff Act, 1975, which is the basic customs duty line. Integrated tax and compensation cess on the same Bill of Entry remain payable in cash. A shortfall arising because those lines were not covered is not a billing error.