Effective Date: 01/05/2023
Last Updated: 06/01/2024

POLICY OVERVIEW

Laraware, India’s premier AI-powered fintech software development company, maintains a strict refund and cancellation policy designed to protect the company’s interests while ensuring transparency in our business operations. This policy governs all refund and cancellation requests for our services including custom software development, AI-powered solutions, SaaS platforms, consulting services, and related offerings.

FUNDAMENTAL PRINCIPLE: All sales are final. Refunds are granted only under exceptional circumstances at Laraware’s sole discretion.

TABLE OF CONTENTS

1. Definitions and Scope
2. General Refund Policy
3. Development Services – No Refund Policy
4. 24-Hour Cooling-Off Period
5. Exceptional Refund Circumstances
6. Refund Processing Timeline
7. Cancellation Policy
8. Payment and Billing Disputes
9. Force Majeure and Service Interruptions
10. Procedure for Refund Requests
11. Client Obligations During Refund Process
12. Limitation of Liability
13. Legal Framework and Compliance
14. Contact Information and Grievance Redressal
15. Policy Amendments

1. DEFINITIONS AND SCOPE

1.1 Definitions

“Laraware” refers to Laraware Private Limited, a company incorporated under Indian law, providing AI-powered software development and fintech solutions.

“Client” or “Customer” means any individual, entity, or organization that engages Laraware for services or makes payment for any offerings.

“Services” encompasses all software development, AI solutions, consulting, training, maintenance, support, and any other services provided by Laraware.

“Development Services” specifically refers to custom software development, application creation, system integration, AI model development, and related technical services.

“Payment” includes all forms of financial transactions including advance payments, milestone payments, subscription fees, and any other monetary consideration.

“Refund” means the return of money paid by the Client to Laraware under specific circumstances outlined in this policy.

“Business Day” means Monday through Friday, excluding Indian national holidays and Laraware’s declared holidays.

1.2 Scope of Application

1.2.1 This policy applies to all services provided by Laraware including but not limited to:

• AI-powered fintech software development
• Custom application development
• SaaS platform development and hosting
• School and hospital management systems
• API integration services (AePS, BBPS, DMT, etc.)
• Consulting and advisory services
• Training and support services
• Software licensing and subscriptions

1.2.2 This policy supersedes any conflicting terms in purchase orders, emails, or verbal agreements unless specifically modified by a written amendment signed by Laraware’s authorized representatives.

2. GENERAL REFUND POLICY

2.1 Fundamental No-Refund Principle

2.1.1 ALL SALES ARE FINAL: Laraware operates on a strict no-refund policy for all services and products. This fundamental principle reflects the professional service nature of our offerings and the significant investment of time, resources, and intellectual property committed upon project commencement.

2.1.2 Intellectual Property Commitment: Given that our services involve the creation and transfer of intellectual property, code development, and customized solutions, refunds are generally not feasible once work has commenced.

2.1.3 Resource Allocation: Payments secure resource allocation, team assignment, and project scheduling. Once these commitments are made, they cannot be reversed without significant business impact.

2.2 Service Categories and Refund Restrictions

2.2.1 Development Services (100% No Refund)

• Custom software development projects
• AI model development and training
• Application development and deployment
• System integration and customization
• Database design and implementation

2.2.2 Consulting Services (No Refund After Delivery)

• Strategy consulting sessions
• Technical advisory services
• Architecture design consultations
• Code reviews and audits

2.2.3 Subscription Services (Prorated Refunds Only in Exceptional Cases)

• SaaS platform subscriptions
• Cloud hosting services
• Software licensing fees
• Maintenance and support contracts

2.3 Industry Standard Alignment

2.3.1 This policy aligns with industry standards followed by leading technology companies including TCS, Infosys, HCL, and other top-tier service providers in India.

2.3.2 The no-refund policy is consistent with the professional services industry where intellectual property and customized solutions are delivered.

3. DEVELOPMENT SERVICES – NO REFUND POLICY

3.1 Absolute No-Refund for Development Work

3.1.1 Zero Tolerance Policy: Development services, including but not limited to software development, application creation, AI model development, and system integration, are provided on a STRICTLY NO-REFUND basis.

3.1.2 Rationale for No-Refund Policy:

• Intellectual Property Creation: Development work creates unique intellectual property that cannot be “returned”
• Resource Commitment: Dedicated team allocation and infrastructure provisioning
• Methodology Investment: Application of proprietary frameworks, tools, and methodologies
• Opportunity Cost: Commitment to client projects prevents engagement with other opportunities
• Sunk Costs: Time invested in understanding requirements, planning, and initial development

3.2 Development Service Categories Covered

3.2.1 Custom Software Development:

• Web application development
• Mobile application development
• Desktop application development
• Progressive Web Apps (PWA)
• API development and integration

3.2.2 AI and Machine Learning Solutions:

• AI model development and training
• Natural language processing solutions
• Computer vision implementations
• Predictive analytics systems
• Recommendation engines

3.2.3 Fintech Solutions:

• Payment gateway integrations
• Banking software development
• Financial APIs (AePS, BBPS, DMT)
• Digital wallet solutions
• Blockchain implementations

3.2.4 Enterprise Solutions:

• School management systems
• Hospital management systems
• ERP implementations
• CRM customizations
• Business intelligence solutions

3.3 Work Commencement and Refund Forfeiture

3.3.1 Immediate Commitment: Refund rights (if any) are forfeited immediately upon:

• Project kick-off meeting completion
• Requirements gathering initiation
• Team assignment and resource allocation
• Infrastructure setup and provisioning
• First line of code written or first design element created

3.3.2 Documentation and Evidence: Laraware maintains comprehensive documentation of work commencement including timestamps, team assignments, and deliverable creation to support the no-refund policy.

4. 24-HOUR COOLING-OFF PERIOD

4.1 Limited Window for Reconsideration

4.1.1 Grace Period: Clients have a LIMITED 24-HOUR WINDOW from the time of payment confirmation to raise concerns or request reconsideration of their order.

4.1.2 Strict Timeline: The 24-hour period is calculated from the exact timestamp of payment confirmation, not order placement or contract signing.

4.1.3 Calendar Hours: The 24-hour window includes weekends and holidays and is not limited to business hours.

4.2 Conditions for 24-Hour Window Utilization

4.2.1 Eligible Circumstances:

• Discovery of significantly better alternative solutions
• Immediate budget constraints or cash flow issues
• Material changes in business requirements
• Force majeure events affecting the client’s business
• Technical impossibility discovered post-payment

4.2.2 Ineligible Circumstances:

• Change of mind without valid business reason
• Discovery of competitor pricing
• Internal approval delays
• Preference for different vendor after commitment
• Speculative or exploratory orders

4.3 Procedure for 24-Hour Window Requests

4.3.1 Notification Requirements:

• Written notice via email to refunds@laraware.com
• Include original payment reference number
• Detailed explanation of circumstances
• Supporting documentation if applicable
• Confirmation of no confidential information access

4.3.2 Laraware’s Review Process:

• Initial response within 4 hours during business days
• Evaluation of circumstances and justification
• Assessment of resource commitment and costs incurred
• Final decision communicated within the 24-hour window

4.3.3 Approval Criteria:

• Genuine business necessity demonstrated
• No confidential information or IP accessed
• No significant resource commitment made
• Valid and reasonable circumstances presented

4.4 Limitations of 24-Hour Window

4.4.1 Automatic Forfeiture: The 24-hour window is automatically forfeited if:

• Client accesses any confidential materials
• Project kick-off meeting is conducted
• Laraware team begins requirement analysis
• Any deliverables are created or provided
• Client downloads or accesses any Laraware IP

4.4.2 Partial Refund Consideration: Even if approved within the 24-hour window, refunds may be partial to cover:

• Administrative costs incurred
• Team preparation time invested
• Third-party costs already committed
• Processing and transaction fees

5. EXCEPTIONAL REFUND CIRCUMSTANCES

5.1 Rare Situations for Refund Consideration

5.1.1 Service Provider Failure (Laraware’s Default):

• Complete failure to commence services after 30 days of scheduled start date
• Abandonment of project without cause by Laraware
• Breach of contract by Laraware (validated through legal process)
• Gross negligence or misconduct by Laraware team

5.1.2 Legal and Regulatory Issues:

• Services become illegal due to regulatory changes
• Court orders preventing service delivery
• Government mandates affecting project legality
• Compliance violations discovered pre-commencement

5.1.3 Technical Impossibility:

• Fundamental technical constraints discovered post-contract
• Third-party dependencies becoming permanently unavailable
• Hardware or infrastructure limitations preventing delivery
• Integration impossibilities with client systems

5.2 Documentation Requirements for Exceptional Cases

5.2.1 Evidence Standard: Clients must provide:

• Detailed documentation of circumstances
• Third-party validation where applicable
• Legal opinions for regulatory matters
• Technical assessments for impossibility claims
• Financial impact analysis

5.2.2 Independent Validation: Laraware reserves the right to:

• Seek independent technical validation
• Require legal opinions on regulatory matters
• Engage third-party experts for assessment
• Verify all claims through appropriate channels

5.3 Refund Calculation for Exceptional Cases

5.3.1 Deduction Framework: Even in exceptional cases, refunds are calculated as:

• Total payment minus administrative costs (minimum ₹25,000)
• Minus team preparation and planning costs
• Minus third-party expenses already incurred
• Minus processing and transaction fees
• Minus overhead allocation costs

5.3.2 Maximum Refund Limitation: In no case shall any refund exceed 70% of the total payment made, regardless of circumstances.

6. REFUND PROCESSING TIMELINE

6.1 Processing Duration

6.1.1 Standard Timeline: Approved refunds (in exceptional cases only) will be processed within 15 WORKING DAYS from the date of final approval.

6.1.2 Timeline Calculation:

• Working days exclude weekends and Indian national holidays
• Timeline begins from approval date, not request date
• Additional time may be required for complex financial reconciliations

6.1.3 Multi-stage Process:

• Financial verification and reconciliation: 3-5 working days
• Administrative processing and approvals: 5-7 working days
• Bank processing and transfer: 3-5 working days

6.2 Processing Methodology

6.2.1 Refund Method: Refunds will be processed only through:

• Direct bank transfer to the original payment account
• Demand draft for domestic clients
• Wire transfer for international clients (additional charges apply)

6.2.2 No Alternative Methods: Refunds will NOT be processed via:

• Cash payments
• Cryptocurrency transfers
• Third-party payment services
• Different bank accounts than original payment source

6.3 Processing Charges and Deductions

6.3.1 Administrative Fees: All refunds are subject to:

• Processing fee: ₹5,000 or 5% of refund amount (whichever is higher)
• Bank charges and transfer fees
• Currency conversion charges (if applicable)
• Tax implications and adjustments

6.3.2 Third-party Costs: Additional deductions for:

• Payment gateway charges incurred
• International transfer fees
• Regulatory compliance costs
• Legal and documentation expenses

7. CANCELLATION POLICY

7.1 Pre-Commencement Cancellations

7.1.1 Before Work Starts: Clients may cancel orders before actual work commencement, subject to:

• Minimum cancellation fee of ₹50,000 or 25% of contract value (whichever is higher)
• Full reimbursement of third-party costs incurred
• Team preparation and planning costs
• Administrative and processing charges

7.1.2 Cancellation Timeline:

• Notice must be provided in writing
• Minimum 48-hour notice required for consideration
• Immediate effect cancellations subject to higher penalties

7.2 Post-Commencement Cancellations

7.2.1 After Work Begins: Once development or service delivery commences:

• No cancellation permitted without completing payment obligations
• Client remains liable for full contract value
• Additional charges for work stoppage and resource reallocation
• Intellectual property developed becomes Laraware’s exclusive property

7.2.2 Milestone-Based Cancellations:

• Cancellation only allowed at predetermined milestones
• Payment for completed milestones plus cancellation penalty
• No refund for work completed or in progress
• Client loses all rights to deliverables and IP created

7.3 Laraware’s Right to Cancel

7.3.1 Company Discretion: Laraware reserves the right to cancel any contract due to:

• Client’s breach of payment terms
• Violation of terms and conditions
• Providing false or misleading information
• Engaging in activities harmful to Laraware’s reputation
• Legal or regulatory compliance issues

7.3.2 Cancellation by Laraware: In such cases:

• Client forfeits all payments made
• No refund obligations on Laraware
• Client liable for additional damages and costs
• Immediate termination of all services and access

8. PAYMENT AND BILLING DISPUTES

8.1 Dispute Resolution Framework

8.1.1 Dispute Categories:

• Payment processing errors
• Billing calculation disputes
• Service delivery disagreements
• Contract interpretation issues

8.1.2 Resolution Timeline:

• Initial dispute notification: Within 15 days of invoice date
• Investigation and response: 10 working days
• Resolution implementation: 5 working days
• Appeal process (if applicable): Additional 15 days

8.2 Burden of Proof

8.2.1 Client Responsibility: Clients must provide:

• Detailed documentation of disputed charges
• Bank statements showing payment transactions
• Specific explanation of discrepancies
• Supporting evidence for claims

8.2.2 Laraware’s Investigation: Company will:

• Review all transaction records
• Verify payment processing details
• Assess service delivery documentation
• Provide detailed response with evidence

8.3 Dispute Resolution Outcomes

8.3.1 Valid Disputes: If dispute is substantiated:

• Credit adjustment on future invoices
• Additional services of equivalent value
• Payment plan adjustments
• Rarely, partial monetary compensation

8.3.2 Invalid Disputes: If dispute lacks merit:

• No adjustments or compensation
• Late payment charges may apply
• Additional administrative fees
• Potential service suspension for repeated invalid disputes

9. FORCE MAJEURE AND SERVICE INTERRUPTIONS

9.1 Force Majeure Events

9.1.1 Covered Events:

• Natural disasters and acts of God
• War, terrorism, and civil unrest
• Government actions and regulatory changes
• Pandemic or epidemic situations
• Infrastructure failures beyond Laraware’s control

9.1.2 Impact on Refund Policy:

• No refunds due to force majeure events
• Service delivery timeline extensions without penalty
• Possible service methodology adjustments
• Alternative delivery arrangements where feasible

9.2 Service Interruptions

9.2.1 Planned Maintenance: Scheduled maintenance activities:

• Advance notice provided
• No refund obligations
• Service credits for extended downtime
• Minimal business impact scheduling

9.2.2 Unplanned Outages: Unexpected service interruptions:

• Immediate restoration efforts
• Regular communication updates
• Service credits for extended outages
• No monetary refunds for temporary disruptions

9.3 Client Responsibilities During Disruptions

9.3.1 Cooperation Requirements:

• Provide necessary cooperation for alternative arrangements
• Maintain communication channels
• Accept reasonable service modifications
• Continue payment obligations unless contract specifically altered

10. PROCEDURE FOR REFUND REQUESTS

10.1 Request Submission Process

10.1.1 Required Documentation:

• Completed refund request form (available on website)
• Original payment receipts and confirmation
• Detailed explanation of circumstances
• Supporting documentation and evidence
• Client identification and authorization documents

10.1.2 Submission Channels:

• Email to: refunds@laraware.com
• Registered post to corporate office
• In-person submission at registered office
• Through authorized legal representatives

10.2 Initial Review Process

10.2.1 Acknowledgment: Within 2 business days:

• Email confirmation of request receipt
• Assigned reference number for tracking
• Initial assessment of documentation completeness
• Request for additional information if needed

10.2.2 Preliminary Evaluation: Within 5 business days:

• Policy compliance assessment
• Eligibility determination
• Documentation verification
• Initial decision communication

10.3 Detailed Investigation

10.3.1 Comprehensive Review: For eligible requests:

• Technical team consultation
• Financial impact analysis
• Legal compliance verification
• Management review and approval

10.3.2 Decision Communication:

• Written decision within 10 business days
• Detailed explanation of decision rationale
• If approved, processing timeline confirmation
• If denied, clear reasoning and appeal rights

10.4 Appeal Process

10.4.1 Appeal Rights: Clients may appeal within 15 days:

• Written appeal with new evidence or arguments
• Senior management review
• Final decision within 15 business days
• No further appeals after final decision

11. CLIENT OBLIGATIONS DURING REFUND PROCESS

11.1 Information Disclosure

11.1.1 Complete Transparency: Clients must:

• Provide all relevant information
• Disclose any related legal proceedings
• Share complete financial impact details
• Cooperate with Laraware’s investigation

11.1.2 Ongoing Obligations:

• Maintain confidentiality of proprietary information
• Return any materials or credentials provided
• Cease use of any Laraware intellectual property
• Comply with non-disclosure agreements

11.2 Asset Return Requirements

11.2.1 Immediate Return: Upon refund request:

• All software, documentation, and materials
• Access credentials and login information
• Any physical materials or hardware
• Deletion confirmation of downloaded content

11.2.2 Intellectual Property Cessation:

• Stop using any Laraware methodologies
• Remove any code or implementations
• Cease referencing Laraware in business activities
• Delete any proprietary information

11.3 Cooperation Standards

11.3.1 Investigation Support:

• Provide timely responses to inquiries
• Allow reasonable verification procedures
• Facilitate third-party validations if required
• Maintain professional communication standards

12. LIMITATION OF LIABILITY

12.1 Company Protection

12.1.1 Maximum Liability: In any refund scenario:

• Laraware’s total liability cannot exceed amount paid
• No liability for consequential or indirect damages
• No compensation for opportunity costs
• No coverage of client’s internal costs or expenses

12.1.2 Excluded Damages:

• Lost profits or business opportunities
• Reputational damage claims
• Third-party costs and expenses
• Delayed project implications
• Alternative vendor costs

12.2 Indemnification

12.2.1 Client Indemnification: Clients agree to indemnify Laraware for:

• False or misleading refund claims
• Costs incurred in defending invalid disputes
• Legal expenses for enforcement actions
• Damage to business reputation
• Third-party claims arising from refund disputes

13. LEGAL FRAMEWORK AND COMPLIANCE

13.1 Governing Law

13.1.1 Jurisdiction: This policy is governed by:

• Laws of India
• Jurisdiction of Mumbai courts
• Indian Contract Act, 1872
• Information Technology Act, 2000
• Consumer Protection Act, 2019 (where applicable)

13.1.2 Regulatory Compliance:

• Reserve Bank of India guidelines for fintech services
• Goods and Services Tax regulations
• Foreign Exchange Management Act (for international clients)
• Data protection and privacy laws

13.2 Consumer Rights

13.2.1 Individual Consumers: Rights under Consumer Protection Act:

• Right to seek redressal through consumer forums
• Protection against unfair trade practices
• Right to compensation for deficiency in services
• Right to product information and transparency

13.2.2 Business Clients: Commercial relationship terms:

• Governed by contract law principles
• Limited consumer protection applicability
• Commercial arbitration for dispute resolution
• Professional service industry standards

13.3 International Clients

13.3.1 Cross-border Considerations:

• Indian law governs all refund matters
• Currency exchange rate fluctuations excluded
• Additional compliance for FEMA regulations
• Tax implications in respective jurisdictions

14. CONTACT INFORMATION AND GRIEVANCE REDRESSAL

14.1 Primary Contact Channels

14.1.1 Refund Queries:

• Email: refunds@laraware.com
• Phone: [Insert Phone Number]
• Address: [Insert Complete Address]
• Working Hours: Monday to Friday, 9:00 AM to 6:00 PM IST

14.1.2 Escalation Matrix:

• Level 1: Customer Success Team
• Level 2: Finance and Operations Manager
• Level 3: Senior Management
• Level 4: Legal and Compliance Officer

14.2 Grievance Redressal Mechanism

14.2.1 Internal Process:

• Initial response within 48 hours
• Investigation completion within 15 days
• Management review for complex cases
• Final resolution within 30 days

14.2.2 External Options:

• Consumer forums for eligible cases
• Arbitration as per contract terms
• Legal proceedings in Mumbai jurisdiction
• Industry association mediation services

14.3 Customer Support Standards

14.3.1 Service Commitments:

• Professional and courteous communication
• Transparent process explanation
• Regular status updates
• Documented decision rationales

15. POLICY AMENDMENTS

15.1 Modification Rights

15.1.1 Company Discretion: Laraware reserves the right to:

• Modify this policy at any time
• Update terms based on business requirements
• Adapt to regulatory changes
• Enhance protective measures

15.1.2 Notification Process:

• Website publication of updated policy
• Email notification to registered clients
• 30-day advance notice for material changes
• Immediate effect for regulatory compliance changes

15.2 Acceptance of Changes

15.2.1 Continuing Relationship: Continued engagement implies:

• Acceptance of modified terms
• Waiver of objections to changes
• Agreement to new policy provisions
• Binding nature of updated terms

15.3 Grandfather Clause

15.3.1 Existing Contracts: For ongoing projects:

• Original policy terms may apply to specific contracts
• New policy for subsequent orders or renewals
• Client option to accept new terms for benefits
• Clear documentation of applicable policy version

POLICY SUMMARY AND CLIENT ACKNOWLEDGMENT

Key Points Summary:

1. NO REFUNDS for Development Services – All custom software development, AI solutions, and technical services are provided on a strict no-refund basis
2. 24-Hour Window Only – Limited opportunity to raise concerns within 24 hours of payment, subject to strict conditions
3. 15 Working Days Processing – Approved refunds (in exceptional cases only) processed within 15 working days
4. Company Protection – Comprehensive limitations on liability and strong indemnification clauses
5. Legal Compliance – Full adherence to Indian laws with Mumbai jurisdiction

Client Acknowledgment:

By engaging Laraware’s services or making any payment, clients acknowledge:

• Complete understanding of this no-refund policy
• Agreement to all terms and conditions
• Acceptance of liability limitations
• Commitment to policy compliance

Final Declaration:

This policy has been carefully crafted based on industry best practices from India’s leading multinational companies including TCS, Infosys, HDFC Bank, ICICI Bank, Reliance Jio, and other market leaders. It provides maximum protection for Laraware while maintaining legal compliance and transparency.

Laraware maintains the final authority in all refund and cancellation matters.

LARAWARE PRIVATE LIMITED
India’s First AI-Powered Fintech Software Development Company

Registered Office:
Narjoga Tower -D-262, Vibhooti Khand Gomti Nagar,
Lucknow, Uttar Pradesh, India- 226010

Contact Information:
Email: info@laraware.com
Phone: 8188949800
Website: https://laraware.com

Corporate Identifiers:
CIN: u62091up2023ptc180790
GST: 09AAFCL3771M1ZZ

This policy is effective immediately and supersedes all previous refund and cancellation policies. For the latest version, please visit our website at https://laraware.com/refund-policy

Last Updated: 06/01/2024
Version: 1.0
Approved By: Legal and Compliance Department