Refund and Exchange Policy of NNRV Trade Partners

1. Introduction

At NNRV Trade Partners, we provide irrevocable financial services once issued (e.g., LC, SBLC). However, we have processes in place for administrative errors or services not rendered in accordance with our terms.

2. Eligibility for Refund

You may request a refund in the following situations:

• Administrative error (e.g., issuance of an incorrect document).
• Service not provided (e.g., LC not issued after payment).
• Failure to meet deadlines (e.g., SBLC issued past the agreed date).

3. Refund Process

Step 1: Report the Issue

• Email: Send a detailed email to Info@nnrvtradepartners.com including:
  → Project number.
  → Description of the issue.
  → Evidence (e.g., payment receipts, incorrect documents).

Step 2: Internal Audit

→ Our legal team will assess the validity of your request (timeline: 5–7 days).

Step 3: Refund

• If approved, the refund will be processed:
  → Using the same payment method (e.g., credit card, wire transfer).
  → Within 14 days.
• Maximum amounts:
  → 100% refund for services not provided.
  → 50% for delays exceeding 30 days.

4. Exceptions

No refunds will be provided in the following cases:

• Services issued (e.g., LC, SBLC, BG).
• Client errors (e.g., incorrect data entry).
• Projects non-compliant with banking standards (e.g., incomplete documents).
• Validated ODD/ESG transactions by third parties (e.g., UNDP).

5. Specific Conditions by Service

a. Letters of Credit (LC)

• Non-refundable once SWIFT issued (MT700/MT710).
• Refund possible only if:
  → LC was not issued after payment.
  → LC contains a critical error (e.g., incorrect amount).

b. Standby Letters of Credit (SBLC)

• Non-refundable once SWIFT validated (MT760).
• Refund possible if:
  → SBLC was not issued on time.
  → SBLC contains a substantive error.

c. Bank Guarantees (BG)

• Non-refundable once issued.
• Refund possible for technical errors (e.g., missing clause).

d. Risk Management Services

• Refund for unperformed audits.
• Example: Anti-money laundering audit not conducted → full refund.

6. Refund Timelines

7. Cancellation Procedure

Before Issuance

• Total refund if requested before final validation.
• Timeline: 3–5 days.

After Issuance

• Not allowed for LC, SBLC, and BG.
• Exceptions:
  → Critical errors (e.g., incorrect name).
  → Non-compliance with ODD/ESG clauses.

8. Modification Policy

• Service modifications:
  • Allowed before issuance (e.g., amount adjustments).
  • Modification fee: 1% of total amount (e.g., $10M → $100,000).

9. Hidden Fees Policy

• No hidden fees:
  • All costs clearly outlined before validation.
  • Example: SWIFT fees included in the quote.

10. Urgent Transaction Policy

• Refund for delays:
  • If an urgent LC is not issued within 3 days → full refund.
  • If an expedited BG is delayed → 20% refund.

11. Non-Financial Services Policy

• Training and audits:
  • Full refund if canceled 72 hours before the scheduled date.
  • Partial refund for late cancellations (50%).

12. Incomplete Data Policy

→ If a project is denied due to missing data:

• No refund (initial fees not claimed).
• Example: Incomplete documentation → no refund.

13. Dispute Process

Step 1: Report the Dispute

→ Email us with :

• Proof of the error (e.g., documents, emails).
• Request for a refund or exchange.

Step 2: Legal Audit

→ Checked by our legal team (timeline: 7–10 days).

Step 3: Decision

→ Approval: Refund issued within 14 days.
→ Rejection: Written explanation provided, with appeal possible to the financial ombudsman.

14. Uncompleted Transaction Policy

→ If the project is canceled by the client before issuance:

• 75% refund of pre-paid fees (e.g., audits).

→ If the project is canceled by NNRV:

• Full refund for internal errors.
• No refund for client errors (e.g., incorrect entry).

15. Transaction Fees Policy

→ SWIFT/MT760 fees:

• Non-refundable once the message is sent.

→ Administrative fees:

• Non-refundable if the service is partially rendered.

16. ESG/ODD Transaction Policy

→ Uncertified projects:

• Full refund if non-certification is due to our error.

→ Non-aligned projects:

• No refund if ODD alignment is missing.

17. Blockchain Transaction Policy

→ Technical errors (e.g., incorrect issuance):

• Full refund if corrected within 48 hours.

→ Post-issuance cancellation:

• Not allowed (blockchain contracts are irreversible).

18. Accelerated Transaction Policy

→ Delays:

• Refund of 20% if the delay exceeds 50%.

→ Cancellation:

• Refund of 50% if requested 24 hours after payment.

19. Non-Financial Transactions

→ Market research:

• Full refund for cancellations 72 hours before the date.
• Partial refund (50%) for late cancellations.

20. International Transactions

→ Refund timelines:

• 14–30 days for transactions outside the EU (according to banking standards).

→ Currency changes:

• Refunds will be made in the original currency.

21. Management Fees Policy

→ Management fees (e.g., bulk issuances):

• Non-refundable once the service is provided.

22. Priority Support Fees Policy

→ Support not provided:

• Full refund.

→ Partial support:

• Proportional refund based on unused time.

23. Refund Process

Step 1: Request

→ Online refund form or email.

Step 2: Verification

→ Our team reviews evidence (documents, payments, etc.).

Step 3: Approval or Rejection

→ Written response within 7 days.

Step 4: Refund

→ Processed within 14 days after approval.

24. Refund Examples

Example 1: Unissued LC

• Case: Payment made but LC not issued.
• Refund: 100% of the amount paid.

Example 2: SBLC with Critical Error

• Case: SBLC issued with an incorrect amount.
• Refund: 100% + correction fees.

Example 3: Canceled Training

• Case: Cancellation 48 hours before training.
• Refund: 50% (standard policy).

25. Final Refund Process

1. Written request via form or email.
2. Internal audit (7 days).
3. Approval or rejection (email).
4. Refund via the same payment method.

Contact for Refunds