Cancellation & refund policy

​

Cancellation and Refund Policy As a User/Member on the Kraze Platform you are bound by our cancellation and refund policy which shall be read in tandem with our Terms and Conditions, Privacy Policy.

 

Cancellation & refund policy

Any Event hosted on the Kraze Platform, may be cancelled by the Company at their sole discretion on the happening of any of the instances mentioned hereinbelow:
 

a) The Event hosted on the Kraze Platform fails to conclude on the timeline mentioned on the Kraze Platform;

b) The Event hosted on the Kraze Platform fails to initiate or conclude due to any impossibility which is not in the control of the Kraze Platform;

c) Any issue arises in respect of settlement or payment and the same persists for more than 7 working days.

d) The Event is cancelled on the basis of any change in any law affecting the event for the time being in force.

e) The Kraze platform is unable to verify the details of any or all of the participants or if the event seems to be fixed by any or all of the parties to the said event.

f) The Event is in direct contravention of any or all of the terms and conditions, rules or any other guidelines that Kraze Platform may release from time to time.

g) If any user tries to interfere in the functioning of the Event or any Kraze Platform whether hosting the event or connected with it.

h) If any third party involved in the Event does any act or omission that may be considered as violative of the Kraze Platforms’ terms and conditions, rules or any guidelines as may be released from time to time by the Kraze platforms or in contravention of any law of the land for the time being in force.

i) If any user/participant in an Event is found to be insufficient of age to use the said service or does not possess the legal right and/or ability to create binding obligations as per the law of the land for the time being in force.
 

The said list is not exhaustive, and the Company may add instances wherein the Event hosted on the Kraze Platform may be cancelled. In case of any Event being cancelled on the Kraze Platform, all participants/users on the Event shall be provided a refund of the amounts traded on the cancelled event.
 

By User (Will the User be allowed to cancel a trade/bet which he has placed on the Kraze Platform? If yes, would he be refunded?)

If a User wishes to cancel their subscription of the Kraze Platforms and its services during an event in which he is participating then such a cancellation (We need to discuss the consequence of such a cancellation)
 

Refund Mechanism
Each user/member on the Kraze Platform shall be assigned a payment wallet, which shall have 3 components, i.e., one component of the wallet shall be reserved for “Promotional Cash” and the second component of the wallet shall be reserved for “Winnings Cash” & the 3rd component of the wallet shall be reserved for “Deposits”.
The Kraze Platform shall at its sole discretion have the power to decide the value and control the usage of the “Promotional Cash” available to the Users, as the value and usage of the “Promotional Cash” on the Kraze Platform would keep fluctuating based on different factors decided by the Kraze Platform.

In case of Event cancellation, the Refund shall be transferred to the components of the User’s Kraze wallet, depending on how much has been invested from which component and the same shall be transferred as invested.
 

No Refund Instances In an instance, where the Kraze Platform an Event is completed and the bid has been matched, then no refund shall be initiated.
 

Miscellaneous
In case of any inadvertent, where the Kraze Platform incorrectly initiates any settlement, then the said transaction or settlement shall be immediately reversed and the correct winning or settlement shall be initiated.

 

Liability
The User expressly agrees that in case of cancellation of an event, it becomes eligible for a refund, then the refund shall be limited to the amount invested by the User on the particular Event and the Kraze shall not be liable to the User for incidental, indirect or consequential loss or damage caused to User due to the cancellation.
 

Modification to the Policy
The Company reserves the right to modify the present Policy and upload the updated version on the Kraze Platform.

Governing Law This Policy shall be governed by and construed in accordance with the laws of India and the courts of New Delhi shall have exclusive jurisdiction.
 

Payment Mechanism-
Post settlement of the Event, Users shall receive an instant deposit of their winning amount in their Kraze wallet. The Bonus Cash component used to participate in any Event shall be transferred to the Bonus Cash section of the Kraze wallet only. In case, the User loses the bid, then the Bonus Cash utilized will be deducted permanently from The Kraze wallet.

Users can generate withdrawal requests from the funds section of the wallet. The Minimum withdrawable limit is Rs 50/, which can change with respect to company’s discretion.

Post the requests of withdrawal, users will get the amount credited to their bank account within 24-48 hours. Rs 5 (or an amount which can change with respect to company’s discretion) will be deducted on every withdrawal as a processing fee/gateway fees.