Refund & Cancellation Policy

1. Scope

This policy applies to subscription fees and any other charges billed by Fraetech Private Limited in connection with its managed technology services, including Saksham. It does not apply to third-party costs (such as government fees or third-party licences) that Frae may pass through to clients.

This policy will be incorporated by reference into each client service agreement. In the event of a conflict, the specific terms of the signed service agreement prevail over this policy.

2. Expression of Interest (EOI) — no charge

Submitting an Expression of Interest form on veloora.ai is free of charge and creates no contractual obligation or payment liability for either party. No refund is applicable at this stage as no payment is taken.

3. Subscription fees

3.1 Billing cycle

Subscription fees are billed in advance, typically on an annual or term basis as agreed in the service agreement. The specific billing cycle, amount, and due dates will be stated in the commercial terms agreed between Frae and the client institution.

3.2 General no-refund position

Subscription fees are generally non-refundable once a billing period has commenced. This reflects the costs Frae incurs in provisioning, maintaining, and supporting the platform regardless of actual usage within a period.

3.3 Exceptions and discretionary refunds

Frae may, at its sole discretion, consider a refund or credit in the following circumstances:

• Service failure: If Frae fails to deliver the contracted service for an extended continuous period (as defined in the service agreement's SLA terms) due to causes within Frae's reasonable control, a pro-rata credit may be offered for the affected period.
• Duplicate billing: If a client is charged more than once for the same billing period due to a billing error, the duplicate charge will be refunded in full within 15 business days of the error being confirmed.
• Pre-deployment cancellation: If a client cancels after signing a service agreement but before deployment commences, Frae may retain a reasonable portion of any advance payment to cover setup and provisioning costs already incurred. Any remaining balance will be refunded within 30 business days.

Refund requests in the above scenarios must be submitted in writing to [email protected] within 30 days of the charge being raised.

4. Cancellation

4.1 Cancellation by the client

A client may cancel the service agreement in accordance with the notice period specified in that agreement (typically 30–90 days written notice). Fees for the notice period remain due and are not refundable unless otherwise agreed.

Upon expiry of the notice period, Frae will assist with data export in a machine-readable format (CSV / standard export) for a reasonable handover period as defined in the service agreement.

4.2 Cancellation by Frae

Frae reserves the right to terminate a service agreement with written notice in cases of: non-payment after a cure period, material breach by the client, or where continuing the service would be unlawful. In such cases, Frae will endeavour to provide the client with adequate notice and data export assistance.

5. No statutory "cooling-off" right

Frae's services are contracted to businesses and institutions, not to individual consumers. Indian consumer protection regulations providing for cooling-off periods for consumer transactions do not apply to institutional service agreements. Clients are encouraged to conduct due diligence before signing a service agreement.

6. Payment disputes

If you believe a charge is incorrect, please contact us at [email protected] within 30 days of the charge date, with your invoice number and a description of the dispute. We will investigate and respond within 10 business days.

7. Changes to this policy

We may update this Refund & Cancellation Policy from time to time. For clients with active service agreements, the version in effect at the time the service agreement was signed will govern the engagement unless both parties agree to updated terms in writing.

Last updated: May 2026

8. Contact

For billing enquiries, refund requests, or cancellation notices: [email protected].