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COMMERCIAL & SETTLEMENT SPECIFICATION

Cancellation & Refund Policy

Markzin Young Private Limited maintains fair, milestone-anchored settlement terms across all enterprise engineering contracts, digital products, and Touchstone educational programmes under Indian commercial law.

Effective Versionv2.4 (2025 Release)
Last AuditedSeptember 2025
Settlement ChannelSource Bank Reversal
Statutory EntityU62013WB2024PTC268521
Commercial Entity: Markzin Young Private Limited
CIN: U62013WB2024PTC268521•Registered in Hooghly, West Bengal
Clause 01.0

Policy Scope & Commercial Principles

This Policy establishes transparent, milestone-anchored settlement standards for all professional technology services, custom software projects, enterprise advisory, and Touchstone capacity-building programmes.

Commercial Applicability

  • This Policy governs all financial engagements, retainer arrangements, and work orders entered into with Markzin Young Private Limited.
  • All commercial software engagements operate under milestone-defined Statements of Work (SOW), where billing stages correlate directly with technical deliverables and computational deployments.
  • Touchstone capacity-building enrolments and institutional training workshops are subject to specialised cohort scheduling and seat reservation terms.

Fair & Equitable Assessment Standard

  • Refund evaluations are conducted in good faith, balancing incurred computational, engineering, and administrative expenditures against mutually documented deliverable schedules.
  • Settlements are processed exclusively through source bank reconciliations, ensuring full compliance with Indian banking statutes and anti-money laundering (AML) directives.
Clause 02.0

Eligibility Criteria for Refund Consideration

Clear conditions under which institutional clients or individual enrollees may seek financial adjustments or partial refunds.

Permissible Claims for Technology & Consulting Engagements

  • Service Non-Initiation: Scheduled sprint kick-offs or architectural deployments not commenced within 30 calendar days of payment clearance, where delay is attributable solely to Markzin Young Private Limited.
  • Duplicate or Erroneous Remittances: Verifiable billing overpayments or inadvertent duplicate electronic fund transfers identified through financial reconciliation.
  • Objective Deliverable Variance: Failure to satisfy mutually executed technical specification sheets, as validated through formal User Acceptance Testing (UAT) audits.

Touchstone Capacity-Building Cohorts

  • Formal withdrawal requests submitted in writing at least 7 calendar days prior to the announced cohort launch date qualify for full tuition fee refund, minus applicable transactional processing charges.
  • Where Markzin postpones or cancels a training cohort without offering an acceptable alternate schedule within 30 calendar days, enrollees receive an automatic 100% refund.
Clause 03.0

Non-Refundable Scope & Milestone Exclusions

Specific deliverables, infrastructure investments, and consumed resources that are strictly excluded from refund claims.

Deployed Resources & Consumed Efforts

  • Custom Software Engineering: Sprint milestones that have been accepted, deployed to staging environments, or for which source code has been merged into client repositories.
  • Cloud & Telemetry Disbursements: Third-party cloud infrastructure charges (AWS, Google Cloud, Microsoft Azure compute/storage), domain registrations, SSL cryptographic certificates, and transactional SMS/Email relays.
  • Advisory & Consultation Sessions: Strategic advisory meetings, technical architecture evaluations, and corporate workshops that have already been conducted by Markzin personnel.
  • Regulatory & Commercial Filings: Fees disbursed to external statutory authorities, compliance registries, or payment gateway processor tariffs.

Cohort Execution & Attended Sessions

  • Withdrawals initiated after the official commencement of a Touchstone programme cohort are strictly non-refundable due to reserved faculty bandwidth and digital curriculum provisioning.
  • Digital resource access, project datasets, and assessment credentials that have been downloaded or accessed by the enrollee.
Clause 04.0

Evaluation Workflow & Review Protocol

A structured, three-stage verification process ensuring impartial scrutiny of every settlement request.

Formal Submission Protocol

  • Step 1 (Formal Written Notice): The requesting party must transmit an email to communications@markzin.com citing the official invoice number, transaction reference ID, and a detailed specification of grounds for refund.
  • Step 2 (Technical & Audit Evaluation): The Finance & Delivery Governance team examines technical logs, sprint acceptance notes, and project repositories within 3 to 5 business days.
  • Step 3 (Determination Notice): A written determination outlining the approval or reasoned rejection of the request is delivered to the client along with an itemised accounting sheet.

Submission Timelines

  • All claims for commercial software services must be lodged within 30 calendar days of the associated invoice date or milestone delivery notification.
  • Claims submitted subsequent to the 30-day window are deemed waived and will not be eligible for retrospective financial adjustment.
Clause 05.0

Banking Settlement & Remittance Timelines

Timelines and accounting mechanisms for approved fund reversals and statutory GST credit documentation.

Settlement Channels & Durations

  • Direct Source Account Reversal: Approved refunds are credited strictly to the original bank account, corporate card, or payment instrument utilized during the initial transaction.
  • Domestic Remittance SLA: Domestic transfers within India (NEFT, RTGS, IMPS) are executed within 7 to 10 working days following formal determination.
  • Cross-Border Wire Transfers: International settlements require 10 to 14 business days to accommodate intermediary banking clearance and Foreign Exchange Management Act (FEMA) procedures.

Tax Invoicing & Statutory Credit Notes

  • In compliance with Indian Goods and Services Tax (GST) regulations, an official Credit Note detailing the adjusted tax component will be issued against the original tax invoice.
  • Banking processing fees or statutory merchant deductions assessed by intermediate payment networks are non-refundable.
Statutory Invoicing & Tax Reconciliations

Corporate Invoicing Governance

All transactions with Markzin Young Private Limited are billed under GST-compliant invoicing frameworks. Any adjustments, credit reversals, or partial cancellations are accompanied by statutory Credit Notes filed in accordance with West Bengal commercial tax protocols.

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