A chargeback shall mean a transaction that is uncollectible and returned to service provider / Graphhene Foundation by user / payee or acquiring bank for a refund to the concerned payer / user due to any of the following reasons:
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As a result of the rapid nature of movements of funds, once a payment has been initiated through the services, it may not be possible to retract the same using the services. If user wishes to attempt to chargeback/ retract a payment, he must notify his bank and Graphhene Foundation immediately and provide all required information. Graphhene Foundation cannot however guarantee that the payment will be retracted. It may be possible to charged back / retract a payment in case of a payment by debit / credit card, if the instruction is given to user’s bank and Graphhene Foundation within the prescribed time. However it would not be possible to do so in case of any other mode of payment.
In the event of a chargeback situation arising in case of any products purchased by a user or payer, for which payment has not yet been made to the payee or user by service provider, the user or payer shall be advised by Graphhene Foundation to resolve the issue with the payee or user or service provider within 45 days and Graphhene Foundation shall then settle the payment in accordance with the solution agreed upon by the parties.
In such event, if the payee and the payer are unable to arrive at a satisfactory resolution of the problem within a period of 45 days, Graphhene Foundation / service provider shall be entitled to make a direct credit to the disputing payer’s account for the disputed amount. Such a debit to the payee’s account and the direct credit to the disputing payer’s account shall not be disputed by the payee in any manner whatsoever. In the event of the payee and the payer arriving at a settlement within the said 45 day period, Graphhene Foundation / service provider shall deal with the said monies in accordance with the terms of the settlement arrived at.
In the event of a chargeback situation arising in case of any products purchased by a user / payer, for which payment has been made to the payee / user / service provider, the user/ payer shall be advised to resolve the issue with the payee / user / service provider within 45 days and shall then settle the payment in accordance with the solution agreed upon by the parties.
Graphhene Foundation shall not be responsible to make payments in respect of any chargeback unless it has received the requisite amounts from the concerned acquiring bank / service provider / payee / user. In the event of the receipt by Graphhene Foundation of an amount of a chargeback from the acquiring bank / service provider, Graphhene Foundation shall pass on to user / payer such amount received by them within 7 days.
In the event that the parties have agreed that user / payer is entitled to chargeback any transaction, Graphhene Foundation may at its discretion, give effect to such chargeback entitlement in any one or more of the following methods: