This Refund & Cancellation Policy forms an integral part of the Terms & Conditions of www.jbforex.in and shall be read in conjunction with applicable laws including the Foreign Exchange Management Act, 1999 (FEMA), RBI Master Directions, and other statutory regulations.
Refund & Cancellation Policy
1. No General Right of Cancellation
Foreign exchange transactions, once booked or executed, are generally irreversible in nature. Accordingly, cancellation requests shall be entertained strictly at the sole discretion of the Company and subject to regulatory feasibility.
2. Cancellation Before Execution
If a cancellation request is received before the foreign exchange transaction is executed, the Company may, at its discretion, cancel the transaction after deducting applicable administrative charges, bank charges, and forex rate differences, if any.
3. Post-Execution Cancellation
Once the foreign exchange has been delivered, loaded, issued, or executed, no cancellation or refund shall be permitted under any circumstances, except where mandated by law.
4. Refund Mode
All approved refunds shall be processed strictly to the same bank account from which the original payment was made, in compliance with RBI and AML guidelines. Cash refunds are strictly prohibited.
5. Refund Timeline
Approved refunds shall be processed within 7–10 working days, subject to banking and regulatory clearances.
6. Rate Difference and Charges
Any refund processed shall be subject to prevailing exchange rate differences, service charges, bank fees, taxes, and statutory levies.
7. Non-Refundable Charges
KYC verification fees, compliance costs, bank charges, and service fees are non-refundable.
8. Failed or Rejected Transactions
In case a transaction fails due to technical reasons or regulatory rejection, the refundable amount, if any, shall be processed after deducting applicable charges.
9. Incorrect Information by User
No refund shall be granted if incorrect, incomplete, or misleading information is provided by the User, including errors in travel documents or KYC details.
10. Force Majeure
The Company shall not be liable for delays or inability to process refunds due to events beyond its reasonable control.
11. Right to Withhold Refund
The Company reserves the right to withhold refunds in case of suspected fraud, money laundering, or regulatory non-compliance until clearance from competent authorities is obtained.
12. Regulatory Overrides
This policy is subject to overriding provisions of RBI, FEMA, and statutory authorities from time to time.
Company & Grievance Details
Company CIN: U74999MH2017PTC292745
Registered Address: Shop No. 4, Grace Residency, Kharodi, Marve Road, Opp. Sagar Hotel, Malad West, Mumbai, Maharashtra, India – 400095
Grievance Redressal Email: info@jbforex.in