Introduction
This Refund & Cancellation Policy (“Policy”) of LLama Research LLP, a SEBI-registered Investment Adviser (INA000018780), forms part of our Terms of Use. It outlines the conditions governing cancellations and refunds, ensuring clarity, fairness, and compliance with SEBI (Investment Advisers) Regulations, 2013.
A. Scope and Applicability
This Policy applies to all services and products offered by LLama Research LLP, including investment advisory, financial planning, portfolio management, and subscription-based services.
B. Cancellation Policy
General Cancellation Terms
- Request Process: All cancellation requests must be submitted through official communication channels (support@llamaresearch.in or designated platform).
- Effective Date: Cancellations take effect once acknowledged by LLama Research LLP
Pre-Service Cancellation
- If services are terminated before commencement, the client will be refunded fees for the unexpired period. LLama Research may retain a breakage fee not exceeding one quarter of the agreed fee.
Subscriptions
- Clients may cancel subscriptions at any time. However, fees already paid for the ongoing subscription period are non-refundable.
C. Refund Policy
1. No Refund for Commenced Services
Once a service has begun, it is not eligible for cancellation or refund, reflecting the allocation of resources and advisory effort.
2. Pro-Rata Refunds in Genuine Cases
In line with SEBI guidance, pro-rata refunds may be considered if:
a. A client demonstrates genuine dissatisfaction due to service lapses; or
b. The case has clear merit based on SEBI’s investor protection framework.
Such cases will be reviewed by the Compliance Team and the Principal Officer.
3. Exceptional Circumstances
Refunds may also be considered in rare events such as significant regulatory changes or unforeseen catastrophic events
D. Processing of Refunds
- Methodology: Approved refunds will be calculated on a pro-rata basis, after deducting incurred costs (including service, platform, and transaction fees).
- Timeline: All valid requests will be reviewed within 15 working days, and processed within SEBI’s prescribed timelines.
- Notification: Clients will be informed of the outcome via email.
E. Non-Refundable Services
- Services involving substantial preparatory work, third-party dependencies, or one-time research outputs are strictly non-refundable.
F. Review & Dispute Resolution
- Review Requests: Clients may appeal refund-related decisions within 30 days of service commencement.
- Final Decision: All decisions rest with LLama Research LLP, following internal compliance review.
- Arbitration & Jurisdiction: Disputes shall be resolved by arbitration in Surat, Gujarat, under applicable law. Courts in Surat shall have exclusive jurisdiction.
G. Policy Updates
- LLama Research LLP reserves the right to amend this Policy at its discretion. Clients are encouraged to review updates periodically..