Cancellation Policy

1. Overview

This Cancellation Policy outlines the terms and conditions for canceling services, subscriptions, and transactions on the Bhavan.ai platform. We understand that circumstances change, and we aim to provide clear guidelines for cancellation procedures.

Please review this policy carefully before engaging with our services. By using Bhavan.ai, you agree to the terms outlined in this policy.

2. Account Cancellation

You may cancel your Bhavan.ai account at any time by:

• Logging into your account and selecting "Delete Account" in settings
• Contacting our support team at support@bhavan.ai

Important Notes:

• Account cancellation does not automatically cancel active SPV memberships or property transactions
• You must fulfill all outstanding obligations before account deletion
• Personal data will be retained as required by law and our Privacy Policy
• Account cancellation is irreversible after 30 days

3. Service Cancellation

3.1 Eligibility Assessment and Matching Services

• Cancellation Window: Within 7 days of payment
• Conditions: No services have been utilized or reports generated
• Refund: Full refund minus processing fees
• Process: Email request to support@bhavan.ai

3.2 SPV Formation Services

• Before Documentation: Cancellable with 50% refund
• After Documentation Started: Non-cancellable, but you may pause for up to 90 days
• After Registration Submission: Non-cancellable

3.3 SPV Management Subscription

• Cancellation Notice: 30 days advance notice required
• Effective Date: End of current billing period
• Refund: No refund for unused portion of current period
• Consequences: SPV compliance and administrative support will cease

4. Property Transaction Cancellation

4.1 Before Down Payment

You may cancel your participation in a property purchase before making a down payment with no penalty. Platform fees paid for matching and SPV formation may be subject to our Refund Policy.

4.2 After Down Payment (Cooling-Off Period)

• Cooling-Off Period: 14 days from down payment
• Conditions: Property inspection not yet completed
• Refund: Full down payment minus earnest money (as per purchase agreement)
• Platform Fees: Non-refundable

4.3 After Cooling-Off Period

Cancellation after the cooling-off period is subject to:

• Terms of the property purchase agreement
• Seller's cancellation policy
• Agreement of all SPV co-owners
• Potential forfeiture of earnest money and down payment

4.4 Loan Approval Contingency

If the SPV's loan application is rejected by all partner NBFCs, you may cancel the transaction with a full refund of the down payment (minus any non-refundable earnest money as per the purchase agreement).

5. SPV Membership Exit

Exiting an SPV after property purchase requires:

• Finding a Replacement: You must find a qualified buyer for your share
• Co-owner Approval: All remaining co-owners must approve the new member
• Right of First Refusal: Existing co-owners have priority to purchase your share
• Lender Approval: NBFC must approve the transfer if a loan is outstanding
• Transfer Fees: Marketplace transaction fees apply
• Legal Documentation: SPV operating agreement must be updated

Note: You remain liable for SPV obligations until the transfer is legally completed and approved by all parties.

6. Marketplace Transaction Cancellation

• Before Agreement: Either party may cancel negotiations at any time
• After Agreement, Before Payment: Cancellation requires mutual consent
• After Payment: Non-cancellable; transaction must be completed
• Dispute Resolution: Mediation available through Bhavan.ai

7. Cancellation by Bhavan.ai

Bhavan.ai reserves the right to cancel services or terminate accounts in the following circumstances:

• Violation of Terms of Service
• Fraudulent activity or misrepresentation
• Non-payment of fees
• Failure to meet eligibility requirements
• Breach of SPV operating agreement
• Legal or regulatory requirements

In such cases, refunds will be issued at Bhavan.ai's discretion based on the circumstances and services rendered.

8. Force Majeure

In the event of force majeure (natural disasters, pandemics, government actions, etc.), either party may cancel services without penalty. Refunds will be provided on a pro-rata basis for services not yet rendered.

9. Cancellation Request Process

To cancel a service or transaction:

1. Review the applicable cancellation terms for your specific service
2. Submit a cancellation request via email to support@bhavan.ai
3. Include your account details, service/transaction ID, and reason for cancellation
4. Provide any required documentation
5. Our team will review and respond within 3-5 business days
6. Follow any additional steps provided by our team

10. Consequences of Cancellation

Depending on the service cancelled, you may experience:

• Loss of access to platform features and services
• Forfeiture of non-refundable fees
• Potential financial penalties as per agreements
• Impact on credit score (for loan-related cancellations)
• Legal obligations to co-owners and lenders
• Loss of property ownership rights

11. Changes to This Policy

We reserve the right to modify this Cancellation Policy at any time. Changes will be posted on this page with an updated "Last updated" date. Your continued use of our services after changes constitutes acceptance of the modified policy.