Refund & Payment Policy

Last updated: January 2026

1. Introduction

This Refund & Payment Policy ("Policy") governs all payment transactions processed through EcoNidhi™ platform operated by Dokovo Global Private Limited, a company incorporated under the Companies Act, 2013, having its registered office at 19th Floor, 1 Mohan Gokhale Rd, Aarey Milk Colony Road, Next to Westin Marriott Hotel, Goregaon (East), Mumbai, Maharashtra - 400063, India (CIN: [Company CIN]).

This Policy applies to subscription payments, marketplace transactions on EcoMarket™, and carbon credit trading on EcoCarbon™. By using our payment services, you agree to this Policy in conjunction with our Terms of Service.

2. Payment Methods Accepted

We accept the following payment methods for transactions within India:

  • UPI (Unified Payments Interface) - All UPI-enabled apps including Google Pay, PhonePe, Paytm, BHIM
  • NEFT/RTGS - For high-value B2B transactions and bulk payments
  • Credit/Debit Cards - Visa, Mastercard, RuPay (subject to RBI guidelines on recurring payments)
  • Net Banking - All major Indian banks
  • Corporate Cards - For enterprise subscriptions

All payments are processed in Indian Rupees (INR) only. We do not accept international payments or cryptocurrency at this time.

3. Subscription Payments

3.1 Billing Cycles

  • Monthly Subscriptions: Billed on the same date each month. If the billing date doesn't exist in a shorter month, billing occurs on the last day of that month.
  • Annual Subscriptions: Billed on the subscription start date each year. Annual plans include a 20% discount compared to monthly billing.

3.2 GST and Tax Invoicing

All subscription fees are subject to Goods and Services Tax (GST) at 18% on software services (SAC Code: 998314). Tax invoices compliant with GST regulations will be issued within 24 hours of payment confirmation and available in your account dashboard.

3.3 Auto-Renewal Terms

Subscriptions automatically renew at the end of each billing cycle unless cancelled. In compliance with RBI guidelines on recurring payments, you will receive a notification 5 days before auto-renewal. For recurring payments above ₹15,000, additional authentication may be required as per RBI mandate.

4. Refund Policy

4.1 Subscription Refunds

  • Annual Plans: Pro-rata refunds available within 30 days of subscription start or renewal. Refund amount = (Unused months ÷ 12) × Annual fee paid.
  • Monthly Plans: No refunds for partial months. You may cancel to prevent future charges.
  • Downgrade Requests: Credit applied to account for future billing, no cash refunds.

4.2 Marketplace Transaction Refunds (EcoMarket™)

Marketplace transactions are protected by our escrow system:

  • Before Dispatch: Full refund if seller fails to dispatch within agreed timeline.
  • Quality Disputes: Refunds processed after platform mediation and third-party verification if required.
  • Short Delivery: Pro-rata refund for verified quantity shortfall.
  • Non-Delivery: Full refund if delivery not completed within 7 days of agreed date.

4.3 Carbon Credit Transaction Refunds (EcoCarbon™)

Due to the nature of carbon credits as verified environmental instruments:

  • Post-Issuance: Carbon credits are non-refundable once issued and registered.
  • Pre-Issuance: Verification fees are non-refundable if data submission is complete.
  • Trading Transactions: Completed trades are final and non-refundable.
  • Failed Verification: No refund of verification fees; platform fees waived.

4.4 Refund Processing Timeline

  • Refund requests acknowledged within 2 business days
  • Refund approval/rejection communicated within 7 business days
  • Approved refunds credited within 7-14 business days to original payment method
  • NEFT/RTGS refunds: 3-5 business days
  • Card refunds: 7-14 business days (depends on issuing bank)
  • UPI refunds: 2-5 business days

5. Escrow Account Terms

In compliance with RBI Payment Aggregator (PA) Guidelines dated March 2020 and subsequent amendments, marketplace transactions are processed through designated escrow accounts:

5.1 Escrow Mechanism

  • Buyer payments are held in a RBI-compliant escrow account operated by our payment partner
  • Funds are released to sellers only upon buyer confirmation or automatic release after dispute window
  • Platform fees are deducted at the time of settlement

5.2 Settlement Timelines

  • Standard Settlement: T+2 business days after delivery confirmation
  • Express Settlement: T+1 for verified enterprise sellers (additional fee applies)
  • Dispute Hold: Funds held for up to 30 days during active dispute resolution

5.3 Buyer Protection

Your payment is protected until:

  • You confirm receipt and acceptance of materials
  • 48-hour dispute window expires without claim
  • Dispute is resolved in seller's favor

6. Payment Failures & Disputes

6.1 Failed Payment Handling

  • Automatic retry after 24 hours for subscription payments
  • Maximum 3 retry attempts over 7 days
  • Account suspension after failed retries with 7-day grace period
  • Email and SMS notifications at each stage

6.2 Chargeback Handling

In accordance with card network rules and RBI guidelines:

  • Chargebacks must be filed within 120 days of transaction
  • We respond to chargeback requests within 7 business days
  • Fraudulent chargeback claims may result in account termination
  • Chargeback fees (if applicable) passed to responsible party

6.3 Dispute Resolution Timeline

  • Initial review: 2 business days
  • Evidence collection: 7 business days
  • Platform decision: 14 business days
  • Escalation to arbitration: Within 30 days if unresolved

7. Cancellation Terms

7.1 Subscription Cancellation

  • Cancel anytime from your account dashboard
  • Cancellation effective at end of current billing period
  • Access continues until subscription expiry
  • No partial refunds for remaining days in monthly plans

7.2 Data Export Rights

Upon cancellation, you may export your data within 30 days:

  • Transaction history and invoices
  • Material tracking records
  • Carbon credit documentation
  • Compliance reports

7.3 Outstanding Payment Obligations

Cancellation does not waive outstanding payment obligations. Any unpaid invoices, pending marketplace settlements, or transaction fees remain due and payable.

8. Contact for Payment Issues

For payment-related queries or disputes:

  • Email: payments@econidhi.com
  • Phone: +91 22 6789 5100
  • Grievance Officer: grievance@econidhi.com
  • Response Time: Within 48 hours on business days

9. Regulatory Compliance

Our payment operations comply with:

  • Reserve Bank of India (RBI) Payment Aggregator Guidelines, 2020
  • RBI Master Direction on Digital Payment Security Controls, 2021
  • Payment and Settlement Systems Act, 2007
  • Information Technology Act, 2000 (IT Act)
  • Consumer Protection Act, 2019
  • Consumer Protection (E-Commerce) Rules, 2020