Refund Policy

1. Scope

This Refund Policy clarifies how Koraly LLC handles refunds for the services we provide to our business Customers (subscription fees, setup fees and add-ons) and how Customers should handle refunds owed to their own end-customers (consumers or business buyers purchasing through the Customer's storefront).

Refunds for Koraly subscription and service fees are governed by this Policy and the Terms of Service. Refunds owed by a Customer to its end-customers are governed by the Customer's own published terms, applicable consumer law and the operating rules of the card networks, and are processed by the Customer using Koraly's tools.

2. Subscription Cancellation

Customers can cancel their Koraly subscription at any time from the dashboard or by contacting support. The cancellation takes effect at the end of the current billing cycle, after which no further subscription fees are charged. Pro-rated refunds are issued in the following situations:

• for annual plans cancelled within thirty (30) days of the initial payment, the unused portion is refunded;
• for material service failures attributable to Koraly that remain uncured fifteen (15) days after written notice, the unused portion of the prepaid term is refunded;
• in any other case agreed in writing by the parties.

Refunds are issued to the original payment method within ten (10) business days of confirmation, subject to the processing time of the issuing bank.

3. Setup Fees and Implementation Services

Setup fees, onboarding services, custom integrations and other professional services are billed upon order and are non-refundable once the corresponding work has commenced. If work has not yet started, Customer may request a refund by email to billing@koraly.io.

4. Chargebacks and Disputes

Customer remains liable for chargebacks initiated by its end-customers, including the disputed amount, applicable chargeback fees, network assessments and any losses incurred by Koraly defending the dispute. Koraly will:

• notify Customer of incoming chargebacks via the dashboard and email;
• collect evidence submitted by Customer in the dashboard;
• represent Customer to the card networks based on the evidence provided, following the network's timelines;
• adjust the Customer's balance to reflect the final outcome and related fees.

Koraly does not guarantee a favorable outcome to any dispute. To minimize chargebacks, Customers should publish a clear refund policy on their storefront, maintain accurate product descriptions, deliver promptly and provide responsive customer support.

5. Merchant-Initiated Refunds to End-Customers

Customers can issue refunds to their end-customers via the Koraly API or the dashboard, in part or in full. Once submitted, refunds are forwarded to the relevant payment processor and typically post to the end-customer's account within five (5) to ten (10) business days, depending on the issuing bank and the original payment method.

The original processing fee paid by Customer on the transaction is generally not refunded by the card network when the underlying transaction is refunded. Currency conversion adjustments may apply for cross-border refunds and will be calculated using prevailing market rates at the time of the refund.

6. Disputes and Evidence Submission

Customers must submit dispute evidence through the dashboard within the deadlines specified by the relevant card network (typically seven to ten calendar days). The evidence package should include the signed order, proof of delivery, communications with the end-customer and any other documentation relevant to the disputed transaction. Koraly will package the evidence according to network specifications and submit it on Customer's behalf.

7. Reserve Refunds

Funds held as rolling or fixed reserves are released according to the schedule specified in the Customer's commercial agreement or dashboard settings. Reserve releases may be delayed in the event of elevated chargeback activity, regulatory holds, suspected fraud or material adverse changes in Customer's risk profile, in which case the Customer will be notified of the reasons and expected timeline.

8. Refund Requests for Currency Conversion

When a transaction is refunded in a currency different from the one originally collected, the refunded amount is converted at the applicable market rate at the time of the refund, which may differ from the rate used at the time of capture. Koraly does not refund any currency conversion fees or differences resulting from market movements between capture and refund.

9. Contact

Questions about this Refund Policy can be addressed to:

Koraly LLC — Billing
4900 240TH ST 5478, Ashton, IA 51232, USA
Email: billing@koraly.io
Phone: +1 (319) 323-7362