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Payment and Refund Policy

PeerSpot Payment and Refund Policy apply to all the commercial transactions being taken place on the PeerSpot mobile application or website. This policy is to be read in sync with the “Privacy Policy and User Agreement”. By complying to the “Terms and Conditions” of PeerSpot, an individual agrees to the Payment and Refund Policy as well.


In case of any disagreement with the PeerSpot Payment and Refund Policy, PeerSpot will not allow an individual to sign up on the PeerSpot platform (mobile application or website).


Definitions:


Account Reconciliation Period: Time within which the Member’s Account will be reconciled with reference to the Payment made to PeerSpot or the Payment Received from PeerSpot, on account of the services availed or offered or promoted.

Active Member: A member is said to be Active, if he/she has linked the bank account in the Profile settings.he/she signs-up at least once in 12 months

Engaged Member: A member is said to be Engaged, if he/she has not “Unsubscribed” the PeerSpot Newsletter and he/she posts relevant feedback after each of the meetings, if any, be it as a Seeker or as a Provider

Inactive Member: A member who is not active, is termed as an Inactive Member.Member: Any person who uses PeerSpot, by opening an account on the website/mobile app of PeerSpot is termed as a Member or Existing Member.

Non-compliance to the Terms and Condition: In case of not agreeing to comply with any of the PeerSpot Policies or Agreement, it’d be treated as “non-compliance to the Terms and Condition”.

Payment Disbursement Period: Period during which PeerSpot would release the payable amount to the Provider (against the Provider Fees received from the Seeker), and payment amount to the Referee (against the Referral Rewards received on account of earning by the Referred Member as a Provider).

Payment Gateway Charges: The Payment Gateway service provider charges for their services towards unification of the digital payment. Such charges are to be paid by the Seeker, in addition to the Provider Fees and PeerSpot Commission. Such charges would be shown inclusive of all applicable taxes.

PeerSpot Commission / Commission: An amount charged by PeerSpot to the Seeker, towards connecting her/him to the Provider, under the scope, agreement, and policy of PeerSpot. Over and above the Fees charged by the Provider, the Seeker also needs to pay the Commission to PeerSpot. This Commission would be exclusive of the applicable taxes.

Privacy Policy: The document termed as “Privacy Policy” as charted by PeerSpot.

Program: PeerSpot Referral Program, under which PeerSpot offers an opportunity to the members to earn rewards by promoting PeerSpot via sharing their referral code to the new joining members.

Promotion Code: PeerSpot may from time to time make available, directly or through a third party, gift cards or codes or coupons which would be redeemable for a specified Paid Service for a predefined period of time. Such code would be termed as a “Promotion Code”.

Provider: A member who is approached by another member for a meeting. The Provider is paid by the Seeker. The Provider is approached by the Seeker for such meetings for validation/ideation/discussion/take opinions/knowledge sharing/business dealing/etc.

Provider Charges / Provider Fees: An amount charged by the Provider towards sharing his time and knowledge with the Seeker. Provider Charges are to be paid by the Seeker. Such charges would be shown inclusive of all applicable taxes.

Referral Code: It’s a unique alphanumeric code, autogenerated by PeerSpot once the user profile is created. Member may this referral code for inviting people to PeerSpot. A member will require to use the same code to earn referral rewards under the Program.

Referee: An individual who invites a person to join PeerSpot, by offering her/his Referral Code.

Referred: An individual whom a PeerSpot member invites to join PeerSpot using her/his Referral Code.

Referral Rewards: The monetary amount a Referee earns as per the eligibility criteria and Referral Reward percentage defined. Such Referral Rewards will be paid to the referee, out of the Commission PeerSpot charges, which the Referee would earn when the Referred will be paid by a Seeker, under the defined terms.

Rules of the Meeting: A Policy, defining the Rules and Regulations governing the Meeting between the Provider and the Seeker.

Terms and Conditions: The “Privacy Policy”, the “User Agreement”, the “Payment and Refund Policy”, etc. kind of any such Policy or Agreement which are binding to the Member towards the use of PeerSpot – are collectively termed as the “Terms and Conditions”.

Seeker: A member who approaches another member for a meeting. The Seeker pays to the Provider.

Unengaged Member: A member who is not engaged is termed as an Unengaged Member.

User Agreement: The document termed as “User Agreement” as charted by PeerSpot.

PeerSpot will communicate in regard to all updates, promotions, services, etc. via email notifications, in-app message, website/app notification and/or SMS - as may be applicable. As a Member, you allow PeerSpot to communicate with you electronically, satisfy any statutory/legal/business requirements. In case of need be arose, such communications may take place in writing as well.


PeerSpot may update the Payment and Refund Policy from time to time. You are advised to refer the same each time, such communications are made. As a member, you may choose to opt out the service of PeerSpot in case of any disagreement in regard to the Payment and Refund Policy.  


PeerSpot transactions include:

  • payment made by the Seeker to PeerSpot,

  • payment made by PeerSpot to the Provider, and

  • payment made by PeerSpot to Referee against the referral rewards


Payment of Charges - as a Seeker:

Seeker pays to PeerSpot when one intends to avail services of Provider, against Provider Fees, PeerSpot Commission, Payment Gateway Charges and applicable taxes.

As a Member, when you indulge in any monetary transaction, related to payment, you agree to:

  • Follow the policies defined by PeerSpot;

  • “Time” is the commodity you are here to buy or sell;

  • Fulfill your obligations towards the payment to the Provider;

  • Provide correct and proper information related to payment, if any;

  • Allow us to retain all your payment related details such as Bank Account Number, IFSC Code, MIRC Code, etc.,

  • Pay all bank charges as may be applicable to you, towards using the services offered by PeerSpot;

Your assurances of payment and PeerSpot’s rights to collect payment include any obligation you have to pay any taxes or charges or fees, described as being applicable to the servicing you are buying. In addition, you agree that you will be responsible for any credit card chargeback fees as well as any reasonable collection costs PeerSpot incurs as a result of your failure to pay on a timely basis. The specified charge for a Paid Service are GST-exclusive and does not include other taxes or delivery or similar charges applicable to your purchase. If any tax or charge applicable to purchase is not charged by PeerSpot, you acknowledge that you are solely responsible for paying the tax or other such charges. The receipt provided to you reflecting your purchase, including GST (if applicable), PeerSpot Commission, and Payment Gateway Charges.


The charges shown do not include any of the third-party fees (other than Fees charged by the “Provider”) you incur in connection with using a Paid Service including, but not limited to, fees charged by your Internet access provider, any wireless carrier charges for cellular or data services and any other third party applications or services with which you may use the Paid Service; you are responsible for selecting and managing these other services, and paying the fees for such services.


Payment of Fees - as a Provider:


The Provider receives payment from PeerSpot, against successful completion of one's meeting with the Seeker, duly complied and confirming the Rules of Meeting.


PeerSpot would release your payment towards your services to the chosen Seeker, only if the Seeker

  • Has taken your consent to the meeting on PeerSpot;

  • Has scheduled the meeting and conveyed date, time and venue to you and you agreed for the same; Has made 100% payment (Provider Fees + PeerSpot Commission + Payment Gateway Charges + Applicable Taxes) to PeerSpot;

  • Has completed the meeting with you, confirming meeting commencement and meeting completion; Has given feedback on the PeerSpot, review of one’s experience with you

PeerSpot would release your payment towards your services to the chosen Seeker, only if you, as a Provider

  • Have given your consent for the meeting on PeerSpot;

  • Have confirmed to the scheduled date, time and venue for the meeting;

  • Have completed the meeting with you, confirming meeting commencement and meeting completion; Have given feedback on the PeerSpot, review of your experience with the Seeker

PeerSpot would release the payment equivalent to the amount, defined as "Provider Fees" at the time of meeting confirmation. In all such instances, you will receive the notification about such transactions with applicable details.


After receipt of feedback on PeerSpot and review of the meeting experience from both “Seeker” and “Provider”, PeerSpot will release the payment within 72 hours (subject to working hours of the banks) to the “Provider”. Such transactions would only be possible only if you have shared your bank details on the PeerSpot profile. In absence of such details, PeerSpot would keep the amount as deposit and will return as and when bank details are synced on the PeerSpot profile.


In case of opting PeerSpot services both as a Seeker and as a Provider, and not updating bank details on the PeerSpot profile - PeerSpot would not allow you to set off the balance payment received as a Provider with the amount payable as a Seeker.


As a Seeker, it’s your prerogative to check the Fees of the Provider properly before requesting for the services.


Changes in “Provider’s” Fees:


When the Seeker requests for a meeting, one would send such request confirming the "Provider Fees" as visible to pay for the amount shown in Provider's profile. Once the request from Seeker is sent, and confirmed by the Provider, the amount recorded at the time of Seeker sending request would be treated as the amount payable to the Provider.


Overall charges levied by PeerSpot:


PeerSpot would levee a Commission towards the use of the platform. Such charges will be levied to the Seeker. PeerSpot may amend this Commission from time to time, and without notifying the Seekers or the Providers.


Over and above the Provider Fees, and the Commission, the Seeker would also require to pay Payment Gateway Charges and applicable taxes.  


Over and above, any charges levied by the government instrumentalities, 3rd party agency, etc. towards facilitation, the same would require to be born by the Seeker.


Once the Seeker selects the Provider, it’d show the total payable amount with the break up, as below:

  • Provider Fees

  • PeerSpot Commission

  • Payment Gateway Charges

  • Applicable Taxes

  • Total Payable amount


Promotional Codes


A Promotional Code may specify an expiration date (“Expiration Date”), after which such Promotional Code shall be void. PeerSpot is under no obligation to accept an expired or otherwise invalid or void Promotional Code. Promotional Codes have no cash value and, except where expressly permitted by PeerSpot, and are non-transferrable. PeerSpot is under no obligation to provide any compensation in connection with a Promotional Code.


Changes to Payment Methods and Account Information


You are responsible for ensuring that your account information, including your email address and all payment information (address, debit or credit card number and expiration date), are accurate and up to date. You may change this information at any time. You may log in to your account through the App or Website, access your “Account Summary” from the Settings page and make the changes.


If your credit card expires or the information is otherwise invalid, or you or another party controlling the payment method make changes to your billing account too close in time to when PeerSpot charges, PeerSpot will probably not be aware of this, and we will bill the current charges to the card we had on record; the continuation of your Paid Service subscription constitutes your authorization for us to do so, and you remain responsible for any uncollected amounts and any charges incurred by you or us as a result of billing to an invalid card. For any charges levied to the account holder on account of such case, PeerSpot is not liable to compensate for the same.


Costs of Collection

Once PeerSpot services are booked, and if the same is canceled, either by the Seeker or by the Provider, below kinds of cancellation charges would be levied:


In case of cancellation by the “Seeker”


  • Before 48 hours to the scheduled meeting - 0% cancellation charge & balance would be refunded. 0% of the Provider Fees would be paid to the Provider

  • Before 24 hours to the scheduled meeting - 5% cancellation charge 5% cancellation charge & balance would be refunded. 5% of the Provider Fees would be paid to the Provider

  • Before 12 hours to the scheduled meeting - 10% cancellation charge 10% cancellation charge & balance would be refunded. 10% of the Provider Fees would be paid to the Provider

  • within 12 hours to the scheduled meeting - 15% cancellation charge 15% cancellation charge & balance would be refunded. 15% of the Provider Fees would be paid to the Provider.

  • In all such cases, the refund amount shows % of the Provider Fees and applicable GST on it. Further to the cancellation charges, payment gateway charges would also be deducted from the gross refundable amount to the Provider.


In case of cancellation by the “Provider”


In any case of the meeting cancellation by the Provider, the Seeker would be refunded back 100% amount paid.


PeerSpot would show the Payment Gateway Charges and PeerSpot Commission refunded to the Seeker in such cases of cancellation by the Provider, in the Account Summary. Next time, whenever the Provider would get such meeting request and payment from the Seeker (may be the same or the other), PeerSpot would deduct such amount from the Provider Fees and would pay to the Provider settling the dues towards cancellation. Such deductions would be in line with those applicable for the clause of In case of cancellation by the "Seeker".


In the event of a conflict, the English language version shall rule.


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