CANCELLATION AND REFUND POLICY

FUTUREAIIT CONSULTING PRIVATE LIMITED

Document Version: 2.0
Effective Date: December 8, 2024
Last Modified: December 8, 2024 

PREAMBLE

This Cancellation and Refund Policy (hereinafter referred to as “Policy”) is issued by FUTUREAIIT CONSULTING PRIVATE LIMITED, a company incorporated under the Companies Act, 2013, bearing CIN U62011TS2024PTC182340, having its registered office at UNIT 405-411 BIZNESS SQR HN. 1-98/3/5/23 TO 27, MADHAPUR SHAIKPET, HYDERABAD, TELANGANA 500081 INDIA (hereinafter referred to as “Company,” “we,” “us,” or “our”).

PRELIMINARY

Section 1.1: Legal Framework

This Policy is governed by and compliant with the laws of India, including but not limited to the Information Technology Act, 2000, Consumer Protection Act, 2019, Indian Contract Act, 1872, Companies Act, 2013, and applicable rules and regulations of the State of Telangana. This Policy constitutes a legally binding agreement between the Company and any individual or entity engaging our services.

Section 1.2: Definitions

For the purpose of this Policy, unless the context otherwise requires:

“Services” shall mean all professional services offered by the Company, including Information Technology Consulting, Cloud Hosting, Digital Marketing, SEO, Web Development, Mobile Application Development, Custom Software Development, IT Infrastructure Development, Data Analytics, and Artificial Intelligence and Machine Learning services.

“Client” shall mean any individual or entity that engages the Company’s services.

“Commencement Date” shall mean the date on which the Company begins performing any work related to the Services.

“Deliverable” shall mean any work product, report, software, application, or other material provided to the Client as part of the Services.

“Force Majeure Event” shall mean any event beyond the reasonable control of either party.

ACCEPTANCE AND APPLICABILITY

Section 2.1: Acceptance

By engaging our Services, Clients acknowledge and agree to be bound by the terms and conditions contained herein. This acceptance shall be considered valid under Section 10A of the Information Technology Act, 2000.

Section 2.2: Scope of Application

This Policy applies to all services offered by the Company and shall be read in conjunction with the Service Agreement, Terms of Service, and Privacy Policy.

COOLING-OFF PERIOD

Section 3.1: Duration and Applicability

The Company provides a cooling-off period of thirty (30) calendar days from the date of contract execution, in accordance with the Consumer Protection Act, 2019. During this period, Clients may cancel their service agreement without penalty, provided no work has commenced.

Section 3.2: Termination of Cooling-Off Period

The cooling-off period shall automatically terminate upon the occurrence of any of the following events:

The Client’s written authorization to commence work; The commencement of service delivery with Client’s consent; The expiration of the thirty-day period.

SERVICE-SPECIFIC CANCELLATION TERMS

Section 4.1: Information Technology Consulting Services

Cancellation of single consulting sessions requires seventy-two (72) hours advance notice. Recurring consultations require fifteen (15) days notice. Late cancellations shall incur full session fees. Emergency cancellations may be considered with supporting documentation and shall incur an administrative fee of One Thousand Indian Rupees (₹1,000).

Section 4.2: Cloud Hosting Services

Cancellation of monthly hosting services requires thirty (30) days advance notice. Annual hosting services require sixty (60) days notice. Client data shall be retained for thirty (30) days post-cancellation in compliance with the Information Technology Act. Extended data retention is available at a rate of One Thousand Indian Rupees (₹1,000) per month. Basic migration assistance shall be provided without charge; complex migrations shall be charged at Two Thousand Five Hundred Indian Rupees (₹2,500) per hour.

Section 4.3: Digital Marketing and SEO Services

These services require a minimum commitment of three (3) months. Cancellation requires thirty (30) days written notice. Early termination shall incur a fee equal to twenty-five percent (25%) of the remaining contract value. Pro-rated refunds shall be issued for unused service periods.

Section 4.4: Web Development Services

Cancellation fees shall be determined based on project phase: Prior to development commencement: ninety percent (90%) refund; During requirements phase: seventy percent (70%) refund; During development phase: fifty percent (50%) refund of incomplete milestones; Post-testing phase: no refund available.

Section 4.5: Mobile Application Development

Cancellation terms shall be structured according to development phases: Planning phase: eighty percent (80%) refund; Design phase: sixty percent (60%) refund; Development phase: forty percent (40%) refund of incomplete work; Testing phase: no refund available.

Section 4.6: Custom Software Development

Cancellation prior to development shall warrant an eighty-five percent (85%) refund. During development, refunds shall be pro-rated based on completion percentage. No refunds shall be issued after the testing phase commences. Maintenance contracts require thirty (30) days notice for cancellation.

Section 4.7: IT Infrastructure Development

Hardware component refunds shall be subject to the following conditions: Unopened items: ninety percent (90%) refund; Configured items: no refund available.

Service cancellation refunds shall be determined by phase: Setup phase: seventy percent (70%) refund; Implementation phase: forty percent (40%) refund; Post-deployment: no refund available.

Section 4.8: Data Analytics Services

Project-based services shall be subject to the following refund structure: Pre-data collection: eighty percent (80%) refund; During analysis: fifty percent (50%) refund; Post-delivery: no refund available.

Ongoing analytics services require thirty (30) days notice for cancellation with pro-rated refunds for unused periods.

Section 4.9: AI and Machine Learning Services

Cancellation refunds shall be structured as follows: Pre-development: seventy-five percent (75%) refund; During development: forty percent (40%) refund; Post-deployment: no refund available.

Data preparation costs and computing resource usage fees shall be non-refundable.

PAYMENT AND REFUND PROCESSING

Section 5.1: Payment Methods

All payments shall be processed through authorized payment gateways, including Razorpay Payment Gateway and direct bank transfers to the Company’s registered account. Goods and Services Tax (GST) at eighteen percent (18%) shall be applicable on all services. Tax Deducted at Source (TDS) shall be applied as per the Income Tax Act, 1961.

Section 5.2: Refund Eligibility

Refunds shall be considered under the following circumstances: Service non-commencement within contracted timeframe; Material breach by the Company; Force majeure events extending beyond thirty (30) days; Company’s inability to deliver promised services.

Refunds shall not be available in cases of: Changes in Client business requirements; Client dissatisfaction with completed work meeting specifications; Client delays or non-cooperation; Violations of terms of service.

Section 5.3: Refund Processing

Refund requests shall be acknowledged within forty-eight (48) hours and reviewed within seven (7) business days. Approved refunds shall be processed within ten (10) business days. Refunds shall be issued to the original payment method where possible, or via bank transfer to a registered account.

INTELLECTUAL PROPERTY RIGHTS

Section 6.1: Ownership and Transfer

All intellectual property rights shall remain with the Company until full payment is received, as per the Copyright Act, 1957. Upon full payment, rights shall transfer to the Client as specified in the service agreement. Partial work shall remain Company property. Third-party assets shall remain subject to their original licenses.

DISPUTE RESOLUTION

Section 7.1: Resolution Process

Disputes shall be resolved through a three-tier process:

First, through mandatory mediation under the Arbitration and Conciliation Act, 1996, with costs shared equally;

Second, through arbitration in Hyderabad, Telangana, conducted in English, if mediation fails;

Third, through legal proceedings in the courts of Hyderabad, subject to the jurisdiction thereof.

LIMITATION OF LIABILITY

Section 8.1: Scope of Liability

The Company’s liability shall be limited to fees paid for the specific service, excluding cases of gross negligence or willful misconduct. No consequential damages shall be awarded. Claims must be filed within six (6) months of the incident with supporting documentation.

DATA PROTECTION

Section 9.1: Compliance

The Company shall handle all data in compliance with the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011, and other applicable data protection regulations.

MODIFICATIONS

Section 10.1: Policy Updates

The Company reserves the right to modify this Policy at any time. Changes shall become effective upon posting to the website and notification to active clients. Material changes shall require thirty (30) days notice.

CONTACT INFORMATION

For matters relating to this Policy, please contact:

FUTUREAIIT CONSULTING PRIVATE LIMITED