1. Amount once paid through the payment gateway shall not be refunded other than in the

following circumstances:

• Multiple times debiting of Customer’s Card/Bank Account due to technical error OR Customer’s

account being debited with excess amount in a single transaction due to technical error. In such

cases, excess amount excluding Payment Gateway charges would be refunded to the Customer.

• Due to technical error, payment being charged on the Customer’s Card/Bank Account but the

enrolment for the examination is unsuccessful. Customer would be provided with the enrolment

by NISM at no extra cost. However, if in such cases, Customer wishes to seek refund of the

amount, he/she would be refunded net the amount, after deduction of Payment Gateway

charges or any other charges.

2. The Customer will have to make an application for refund along with the transaction number

and original payment receipt if any generated at the time of making payments.

3. The application in the prescribed format should be sent to paymentonline@stfc.co.in
4. The application will be processed manually and after verification, if the claim is found valid, the

amount received in excess will be refunded by NISM through electronic mode in favor of the

applicant and confirmation sent to the mailing address given in the online registration form,

within a period of 21 calendar days on receipt of such claim. It will take 3-21 days for the money

to show in your bank account depending on your bank’s policy.

5. Company assumes no responsibility and shall incur no liability if it is unable to affect any

Payment Instruction(s) on the Payment Date owing to any one or more of the following

circumstances:

1. If the Payment Instruction(s) issued by you is/are incomplete, inaccurate, and invalid and

delayed.

1. If the Payment Account has insufficient funds/limits to cover for the amount as mentioned

in the Payment Instruction(s)

1. If the funds available in the Payment Account are under any encumbrance or charge.
2. If your Bank or the NCC refuses or delays honoring the Payment Instruction(s)
3. Circumstances beyond the control of Company (including, but not limited to, fire, flood,

natural disasters, bank strikes, power failure, systems failure like computer or telephone

lines breakdown due to an unforeseeable cause or interference from an outside force)

1. In case the payment is not effected for any reason, you will be intimated about the failed

payment by an e-mail

6. User agrees that Company, in its sole discretion, for any or no reason, and without penalty, may

suspend or terminate his/her account (or any part thereof) or use of the Services and remove

and discard all or any part of his/her account, user profile, or his/her recipient profile, at any

time. Company may also in its sole discretion and at any time discontinue providing access to

the Services, or any part thereof, with or without notice. User agrees that any termination of his

/her access to the Services or any account he/she may have or portion thereof may be effected

without prior notice, and also agrees that Company will not be liable to user or any third party

for any such termination. Any suspected, fraudulent, abusive or illegal activity may be referred

to appropriate law enforcement authorities. These remedies are in addition to any other

remedies Company may have at law or in equity. Upon termination for any reason, user agrees

to immediately stop using the Services.

7. Company may elect to resolve any dispute, controversy or claim arising out of or relating to this

Agreement or Service provided in connection with this Agreement by binding arbitration in

accordance with the provisions of the Indian Arbitration & Conciliation Act, 1996. Any such

dispute, controversy or claim shall be arbitrated on an individual basis and shall not be

consolidated in any arbitration with any claim or controversy of any other party