1. Scope of this Policy
This policy applies to reward point redemptions and payout transactions processed through the Akarshan Laminates platform. Payouts are disbursed via Cashfree Payments to the UPI address or bank account provided by the user.
2. Reward Points & Eligibility
- Reward points are earned by scanning valid QR codes affixed to Akarshan Laminates products (plywood, laminates, and related items).
- Points accumulate in the user's wallet and become eligible for withdrawal once the minimum redemption threshold is reached.
- Points have no cash value until a withdrawal request is approved and the payout is successfully processed.
3. Withdrawal Requests
- Users can submit a withdrawal request through the app by providing a valid UPI ID or bank account details (account number and IFSC code).
- All withdrawal requests are subject to admin review and approval. The admin team may verify the user's identity, claim history, and account details before processing.
- We reserve the right to reject a withdrawal request if the account or claims appear fraudulent or violate our Terms & Conditions.
4. Cancellation of Withdrawal Requests
- A withdrawal request that is still in "pending" status may be cancelled by the admin team at the user's written request. Once cancelled, the corresponding points are restored to the user's wallet balance.
- Once a withdrawal request has been approved and submitted for processing, it cannot be cancelled by the user.
5. Failed Payouts & Automatic Refund
- If a payout transaction fails due to incorrect payment details, bank-side rejection, UPI downtime, or any other technical issue, the equivalent reward points are automatically restored to the user's wallet balance.
- The user can then update their payment details and submit a new withdrawal request.
- In the event of a payment reversal (where a bank reverses a previously successful transfer), the wallet balance is restored and the user is notified.
6. Completed Payouts
Once a payout has been successfully credited to the user's UPI address or bank account, the transaction is considered final. No refund, reversal, or cancellation can be initiated from our end for a successfully completed payout.
7. Disputes
If you believe a payout was processed incorrectly or your wallet balance was not properly restored after a failed transaction, please contact us within 7 days of the transaction. We will investigate and resolve the issue as soon as possible.
8. Processing Time
- Withdrawal requests are typically reviewed and processed within 1–3 business days after admin approval.
- Actual credit to the user's bank account or UPI address depends on the payment processor and the recipient's bank, and may take an additional 1–2 business days.
- Wallet balance restoration for failed payouts is immediate and automatic.
9. Modifications to this Policy
We reserve the right to update this Refund & Cancellation Policy at any time. The latest version will always be available at aakarshanlaminates.com/refund-policy.