Last updated on April 15, 2025
1. BACKGROUND
1.1 Befinance Technology Inc., Reg Number: BC1470573, a company incorporated under the laws of Canada using the website 7gates.exchange (hereinafter referred to as 7gates) guarantees to any its User his/her right for refund, in case if such User is eligible according to the Refund Eligibility Criteria.
1.2 All other transactions which do not fall into the scope of the Refund Eligibility Criteria are final and irrevocable due to the nature of digital assets.
1.3 In any case 7gates will not be held responsible for the errors of the User, including but is not limited to, errors in entering trade prices, errors in requested withdrawal addresses, errors in deposit transactions.
1.4 Refunds in excess of the original amount are prohibited. Every Refund is treated by 7gates with reasonable care and skill.
1.5 The right of cancellation applies only to private customers and shall not apply for companies.
1.6 Once the User initiates a transaction with a digital asset, 7gates fixes the exchange rate and processes the transaction, so the User cannot cancel it at any time. The transaction may only be offset at 7gates’ current asking price.
2. DEFINITIONS
2.1. Chargeback : means return of the User’s money by his/her Issuing Bank due to the disputed and/or fraudulent transaction.
2.2. Refund Eligibility Criteria : means the set of requirements that must be met for Refund
2.3. Issuing Bank : means the bank that has issued payment card to the User as Cardholder.
2.4. Refund Form : means 7gates’ form to be completed by the User, who has requested the Refund.
2.5.Transaction Charges : means any fee charged by a bank/financial institution upon processing a valid refund request.
All other terms and definitions in this Refund Policy are used in the same meaning as under the Terms of Use.
3. GENERAL CONDITIONS
3.1.The User who has paid for the 7gates Services, i.e. paid a transaction fee, or has funded his account may request a Refund in accordance with the Refund Eligibility Criteria as further set out herein.
3.2.Refund will only be considered where the User complies with the Refund Eligibility Criteria in full. Where the User fails to meet any of the Refund Eligibility Criteria, 7gates shall have the right, in its sole discretion, to decline the User’s request for a Refund.
3.3.In order to apply for a Refund, the User must request and complete a Refund Form and send the respective form to the 7gates support address. You can obtain the Refund Form under request sent to support@7gates.exchange.
3.4.To prevent suspicious actions, all payments and information related to Refund may be verified by 7gates. In such case, 7gates may request the User to provide certain documents, including, but not limited to:
3.5. In case if the User fails to provide appropriate documents or information within three (3) days upon the 7gates request or in case of any doubts as to authenticity of provided documents, 7gates shall be entitled to decline the User’s Refund request.
3.6.7gates shall process the User’s Refund Form as soon as is reasonably practicable. Response times will vary depending on stated reasons for the request. In any case, 7gates shall notify the User on the outcome of the request in accordance with the timescales set out herein.
3.7.Refund request will only be approved or declined after meticulous verification made by 7gates.
3.8.Submission of Refund Form does not guarantee that the User’s request will be satisfied.
3.9.The price of the Crypto Currency changes constantly thus the value of purchased Crypto Currency on the moment of Refund will be different.
3.10 The 7gates fee for the transaction in the amount of 10 (Ten) percent is not refundable. It will be deducted from the total sum of the Refund.
4. REFUND ELIGIBILITY CRITERIA
4.1. The refunds are considered in the following cases:
4.1.1 serious payment delays;
4.1.2 abnormal rate fluctuations;
4.1.3 any guilty actions of third parties. Herewith, 7gates may ask you to confirm or cancel the transaction if the exchange rate has changed significantly when the abovementioned force majeure took place.
4.2. All requests for Refund will only be accepted where notice is received by 7gates no later three (3) working days after made Transaction.
4.3. Notice mentioned in para 4.2 above should be provided to 7gates by completing Refund Form.
4.4. Completed Refund Form should be sent to the 7gates electronic address with ' Refund Request’ in the subject line.
4.5. 7gates provides the Refund using the same means of payment as the User used to pay, unless the User expressly agrees otherwise.
5. PROCESSING TIMELINE
5.1.Within fifteen (15) Business Days as of the date of Refund From receipt, 7gates shall contact the User to request further information (if required) and the User shall provide such information as soon as reasonably practicable but in an case no later than fourteen (14) days following such request.
5.2.7gates shall notify the User by e-mail on its final decision regarding Refund:
5.3 Refund will be processed without undue delay, and in any event within fourteen (14) days beginning with the day on which the 7gates agrees that the User is entitled to a Refund.
5.4.If the User has not received a refund in the due time, he/she should first rescan the blockchain and check his/her wallet again. If the actions have been performed and the refund has not been yet received, the User is advised to contact 7gates at support support@7gates.exchange.
5.5.The User will have no Refund:
5.5.1 When requested by 7gates to do so, the User fails to provide 7gates with information or/and document(s) within the terms set herein.
5.5.2 If 7gates suspects that the User has, or is, engaged in, or have in any way been involved in, fraudulent or illegal activity, including Suspicious Activity.
5.5.3 There is no ground for Refund.
5.6.7gates reserves the right to lock the User’s Funds while Refund investigation is in process, which means that the Funds could be inaccessible during such investigation.
6. CHARGEBACKS
6.1. 7gates expects the User to contact it using 7gates contact details to resolve any problem or issue related to his/her payments before the User makes any Chargeback request. This Section does not affect any rights and/or claims, which the User may have against the bank/financial institution.
6.2.7gates will investigate any Chargeback requests made by the User and in response will inform the User’s Issuing Bank whether any Service or Transaction has been cancelled.
6.3.7gates reserves the right to suspend User's account and lock User's Funds during the chargeback investigation procedure.
7. MISCELLANEOUS
7.1.Any charges, which arise upon processing Refund/Cancellation, shall be borne solely by the User. Such charges will be deducted from the final amount of Refund.
7.2.This Refund and Cancellation Policy will be amended from time to time if there is any change in the legislation. Terms and conditions of the Refund and Cancellation Policy are subject to change by 7gates and in the case of any amendments, 7gates will make an appropriate announcement. The changes will apply after 7gates has given notice.
7.3.In case if the User does not wish to accept the revised Refund and Cancellation Policy, he/she should not continue to use 7gates Services. If the User continues to use the Services after the date on which the change comes into effect, his/her use of the Services to be bound by the new Refund and Cancellation Policy.