Refund policy

[PLACEHOLDER: This document has not been reviewed by a lawyer. Have counsel familiar with Indian financial services regulation review and complete it before launch.]

The important distinction

Investment losses are not refundable. If the value of your portfolio falls, that is market risk, not a service failure, and no refund arises. This policy covers fees charged by PortfolioHub, not the performance of your investments.

Management fees

Management fees are charged in advance each quarter on assets under management. If a mandate is terminated mid-quarter, the unused portion is refunded pro rata within [PLACEHOLDER: number] working days of the final statement. [PLACEHOLDER: confirm this matches your billing.]

Onboarding and one-off charges

[PLACEHOLDER: state whether any onboarding, documentation or account opening charge is refundable, and under what conditions.]

Third-party costs

Brokerage, exchange transaction charges, statutory levies, custody fees and making charges on physical gold are paid to third parties and cannot be refunded by us once incurred.

Performance fees

[PLACEHOLDER: state whether a performance fee already crystallised and charged can be reversed, and how a high-water mark is treated on early termination. If there is no performance fee, delete this section.]

Mining allocations

[PLACEHOLDER: This needs specific and careful drafting. State clearly what a client is buying — identified hardware, a contractual right to a share of output, or something else — and what happens to their position on early termination. Hardware that has been purchased and deployed cannot generally be refunded, and clients must understand that before committing.]

Physical gold

[PLACEHOLDER: state your buyback terms, the spread applied, and whether making charges are recoverable. Making charges are generally not recovered on resale, and clients should be told so before purchase.]

How to request a refund

Write to [PLACEHOLDER: email] with your client ID and the reason. We will acknowledge within [PLACEHOLDER: period] and resolve within [PLACEHOLDER: period].

If you disagree with the outcome

[PLACEHOLDER: set out your escalation route, including your grievance officer and, for regulated activities, SEBI's SCORES platform.]