Cancellation Policy
1. Introduction
1.1 Purpose
This Cancellation Policy ("Policy") sets forth the terms and conditions under which FinOne Industries India Private Limited ("FinOne" or "Company") allows clients to cancel orders for its products and services. The Policy aims to ensure transparency and fairness for both FinOne and its valued clients.
1.2 Scope
The Policy shall apply to all orders placed with FinOne through its online portal or other official order placement channels. The Policy may be supplemented by additional terms for certain product categories, markets or client segments as referenced in the relevant agreements.
2. Cancellation Eligibility
2.1 Cancellation Window
Clients may cancel orders within 6 hours of receiving FinOne's order confirmation, provided that manufacturing of the ordered items has not commenced. If production has already started on an order, it can no longer be cancelled.
2.2 Non-Cancellable Orders
The following types of orders are not eligible for cancellation once confirmed by FinOne, due to their customized or special nature:
Bespoke, made-to-order items manufactured to the client's specifications
High-volume orders requiring special procurement or logistics arrangements
Orders for which shipping to the client has already commenced
3. Cancellation Process
3.1 Submitting Cancellation Requests
To request order cancellation, clients must take one of the following steps within the 6-hour cancellation window:
Log in to the FinOne online portal, locate the relevant order, and submit cancellation through the portal interface; or
Contact FinOne Customer Service via email at fiil@finoneindustries.com with the order details and cancellation request.
3.2 Required Information
Cancellation requests must include the following details to enable prompt processing by FinOne:
FinOne order confirmation number
Name and contact information of the procurement officer who placed the order
Reason for requesting cancellation
4. Cancellation Fees
4.1 Administrative Fees
FinOne will deduct an administrative fee equivalent to 5% of the order value for all cancelled orders to defray costs incurred in order processing and reversal.
4.2 Restocking Fees
For orders involving physical goods that have progressed to packaging stage, an additional 10% restocking fee shall apply to cover re-warehousing costs.
5. Special Situations
5.1 Customized and Bulk Orders
Cancellation of orders for bespoke products or high-volume purchases may be subject to different terms, as expressly agreed in the contract for such orders. Clients should refer to their specific agreements regarding cancellations.
5.2 Extenuating Circumstances
In the event of force majeure situations impacting FinOne's operations and ability to fulfill orders, the company shall review cancellation requests on a case-by-case basis, balancing fairness to clients with responsible management of the company's capacities and liabilities.
6. Client Obligations
6.1 Accuracy of Order Details
Clients are responsible for providing complete and accurate information when placing orders, including technical specifications, quantities, and delivery requirements. Clients should review order acknowledgments from FinOne to confirm that all details are correct.
6.2 Timely Notification
If a client wishes to make any changes to an order, it must promptly contact FinOne in writing, and in any case prior to the expiry of the 6-hour cancellation window. Change requests received after this cut-off will be accommodated only on a best-effort basis.
7. Policy Updates
7.1 Amendments
FinOne reserves the right to modify this Cancellation Policy at any time as business needs and market conditions evolve. The company shall use reasonable efforts to provide advance notice to clients of material changes to the Policy.
7.2 Notification
The latest version of the Cancellation Policy shall be posted on FinOne's online portal and other customer-facing channels. Clients are encouraged to review the Policy periodically to stay updated on their rights and obligations relating to order cancellations.
This Cancellation Policy has been issued by FinOne Industries India Private Limited and is effective as of May 01, 2023.