A Chargeback Shall Mean A Transaction That Is Uncollectible And Returned To the Service Provider/ Parkfund By the User/ Payee Or Acquiring Bank For A Refund To The Concerned Payer / User Due To Any Of The Following Reasons:
(A)Any Payment Which The User/ Payer Refuses To Honour Or Demands A Refund Of Because The Products Purchased Or The Delivery Thereof, Was Not As Promised Or Was Defective, Deficient, Incomplete And /Or Unsatisfactory For Any Reason Whatsoever, Or That Payment For The Same Has Already Been Made.
(B)Any Payments By A User/ Payer Using The Services, Which Is Returned By The Acquiring Bank For Any Reason Whatsoever.
(C)Any Charge/Debit Arising Out Of Any Alleged Hacking Breach Of Security Or Encryption That May Be Utilized By Service Provider/ Parkfund/ Payee From Time To Time.
Any Unsuccessful Transactional.
As A Result of The Rapid Nature Other the Movements Of Funds, Once A Payment Has Been Initiated Through The Services, It May Not Be Possible To Retract The Same Using The Services. If Ithe f User Wishes To Attempt To Chargeback/ Retract A Payment, He Must Notify His Bank And Parkfund Immediately And Provide All Required Information. Parkfund Cannot However Guarantee That the Payment Will Be Retracted. It May Be Possible to Charge Back/ Retract A Payment In Case Of A Payment By Debit/ Credit card If The Instruction Is Given To the User’s Bank And Parkfund Within The Prescribed Time. However, It Would Not Be Possible to Do So in Case of Any Other Mode of Payment.
In The Event of a Chargeback Situation Arising In Case Of Any Products Purchased By A User Or Payer, For Which Payment Has Not Yet Been Made To The Payee Or Use the r By Service Provider, The User Or Payer Shall Be Advised By Parkfund To Resolve The Issue With The Payee Or User Or Service Provider And Parkfund Shall Then Settle The Following With The Solution Agreed Upon By The Parties.
In Such Event, If the Payee and The Payer Are Unable to Arrive at A Satisfactory Resolution of The Problem, Parkfund/ Service Provider Shall Be Entitled to Make A Direct Credit To The Disputing Payer’s Account For The Disputed Amount. Such A Debit to The Payee’s Account and The Direct Credit to The Disputing Payer’s Account Shall Not Be Disputed By The Payee In Any Manner Whatsoever. In The Event of The Payee and The Payer Arriving At A Settlement, the Parkfund/ Service Provider Shall Deal With The Said Monies In Accordance With The Terms Of The Settlement Arrived At.
In The Event Of A Chargeback Situation Arising In Case Of Any Products Purchased By A User/ Payer, For Which Payment Has Been Made To The Payee/User / Service Provider, The User/ Payer Shall Be Advised To Resolve The Issue With The Payee/User / Service Provider And Shall Then Settle The Payment In Accordance With The Solution Agreed Upon By The Parties.
Parkfund Shall Not Be Responsible For Make Payments In Respect Of Any Chargeback Unless It Has Received The Requisite Amounts From The Concerned Acquiring Bank/ Service Provider/ Payee/ User. Parkfund Shall Not Be Responsible for Any Claims, Disputes, or Penalties Arising in Connection With Such Chargeback, Parkfund Shall Be Indemnified Against The Same. In The Event of The Receipt by Parkfund of An Amount of a Chargeback from The Acquiring Bank / Service Provider, Parkfund Shall Pass on To User/ Payer Such Amount Received By Them Within 7 Days.
If The Parties Have Agreed That the User/ Payer Is Entitled to Chargeback Any Transaction, Parkfund May at Its Discretion, Give Effect to Such Chargeback Entitlement In Any One Or More Of The Following Methods:
(A)Deduction Of The Relevant Amount Or Any Part Thereof From Any Amounts To The Payee;
(B)Billing The Concerned Party For The Relevant Amount Or Any Part Thereof.
If Either Parkfund Or the Service Provider Suspects, On Reasonable Grounds, That A User Has Committed A Breach Of These Terms Or Any Other Agreement With Parkfund Or Any Act Of Dishonesty Or Fraud Against Parkfund/ Any Service Provider, Parkfund Shall Be Entitled To (A) Suspend All Payment Under These Terms; (B) Deactivate/ Suspend Your User Account And Disable Your Password, And (C) Terminate User’s Access To The Website Or The Services With Or Without Giving Any Notice Of Such Termination To The User; Pending Enquiries by Parkfund. User May Cancel His User Account At Any Time By Sending An Email to Parkfund. Please Note That Once Your Account Is Cancelled, Parkfund Does Not Have Any Obligation to Return Any Data or Information That May Reside On Its Servers Or Other Equipment.