Last Updated: October 2019
BACKGROUNDECOS guarantees to the User his/her right for refund, in case if the mining contract wasn`t provided (activated) to the user during 48 hours.
- This Refund Policy concerns exclusively Transaction fees and Users’ Funds.
- This Refund Policy does not cover any transactions between the Users related to purchase-sale of crypto-currencies and it does not refer to any refunds for purchased crypto-currencies.
- ECOS undertakes to make its best efforts to assist the Users in case of any disputes related to refunds of purchased crypto-currencies.
- Refunds and Returns in excess of the original amount are prohibited.
DEFINITIONSBanking Day: any bank, which collects payments made by the ECOS Users on its account. Business Day every official working day of the week in Armenia. Chargeback: return of the User’s money by his/her Issuing Bank due to the disputed and/or fraudulent transaction. Eligibility Criteria: the set of requirements that must be met for Refund or Return. Funding (also mentioned as “Deposit” on the Platform): a transfer of a certain amount of money to the User’s Account via a Payment card or Bank transfer. Return Form: the ECOS’s form to be completed by the User, who has requested for his/her Funds to be returned. Funds: certain amount of money transferred to and accumulated on the User’s Account. Issuing Bank: the bank that has issued payment card to the User as Cardholder. Refund original amount: the precise amount of Transaction fee deducted from the amount of certain User’s Transaction. Refund Form: the ECOS’s form to be completed by the User, who has requested the Refund. Refund: means giving back the amount of Transaction fee paid by the User with regard to certain Transaction. Return original amount: the precise amount of the User’s Funds accumulated on his/her Account. Return: giving back the User’s Funds transferred to his/her Account. Transaction Charges: any fee charged by a bank/financial institution upon processing a valid refund request. All other terms and definitions in this Refund Policy are used in the same meaning as under the Terms and Conditions.
GENERAL CONDITIONSThe User who has paid for the ECOS Services, i.e. paid a transaction fee, or has funded his account may request a Refund or Return in accordance with the Eligibility Criteria as further set out herein. Refund/Return will only be considered where the User complies with the Eligibility Criteria in full. Where the User fails to meet any of the Eligibility Criteria, ECOS shall have the right, in its sole discretion, to decline the User’s request for a Refund. In order to apply for a Refund, the User must send a Refund request to the ECOS support https://ecoshelp.zendesk.com/hc/en-us/requests/new . To prevent Prohibited Conduct, all payments and information related to Refund/Return may be verified by ECOS. In such case, ECOS may request the User to provide certain documents, including, but not limited to, identification documents, copy of the User’s Payment Card and Invoice or/and any other prove of the fact that disputed payment was made. In case if the User fails to provide appropriate documents or information within three (3) days upon the ECOS request or in case of any doubts as to authenticity of provided documents, ECOS shall be entitled to decline the User’s Refund request. ECOS shall process the User’s Refund request as soon as is reasonably practicable. Response times will vary depending on stated reasons for the request. In any case, ECOS shall notify the User on the outcome of the request in accordance with the timescales set out herein. Refund request will only be approved or declined after meticulous verification made by ECOS. NOTE: Submission of Refund request does not guarantee that the User’s request will be satisfied.
REFUND ELIGIBILITY CRITERIAAll requests for Refund will only be accepted where notice is received by ECOS no later than forty-eight (48) hours after made Transaction. Notice mentioned above should be provided to ECOS by completing the Refund request. The Refund request should be sent to the ECOS helpdesk via link https://ecoshelp.zendesk.com/hc/en-us/requests/new with `Refund Request’ in the subject line.
RETURN ELIGIBILITY CRITERIAAll requests for Refund should be provided to ECOS support help desk using the link https://ecoshelp.zendesk.com/hc/en-us/requests/new with `Refund Request’ in the subject line. ECOS provides the Refund using the same means of payment as the User used to pay, unless the User expressly agrees otherwise. PROCESSING TIMELINE Within fifteen (15) Business Days as of the date of Refund request receipt, ECOS shall contact the User to request further information (if required) and the User shall provide such information as soon as reasonably practicable but in any case, no later than fourteen (14) days following such request. ECOS shall notify the User by e-mail on its final decision regarding Refund:
- within fifteen (15) Business Days following the receipt of the last requested additional document or information;
- within twenty (20) Business Days following the receipt of Refund request if no further information or document is requested.
- when requested by ECOS to do so, the User fails to provide ECOS with information or/and document(s) within the terms set herein.
- if ECOS suspects that the User has, or is, engaged in, or have in any way been involved in, fraudulent or illegal activity, including Prohibited Conduct.
- there is no ground for Refund.