At T|EUM, we want every transaction to be a positive experience for both Buyers and Sellers. This Refund Policy outlines the conditions under which refunds may be issued, the process for requesting a refund, and how our escrow system protects all parties. Please read this policy carefully before making a purchase.
1. Payment Processing
All payment transactions on T|EUM are processed through Stripe, a leading global payment processor. This means:
- Stripe processes your payment and the charge appears on your bank or credit card statement as T|EUM or teum, LLC.
- Stripe manages the technical processing of all refunds to your original payment method.
- Stripe is PCI DSS Level 1 compliant, ensuring your payment information is handled with the highest security standards.
By making a purchase on T|EUM, you agree to Stripe's terms of service.
2. Escrow Protection System
Every transaction on T|EUM is protected by our escrow system, designed to safeguard both Buyers and Sellers:
- When you purchase a Product, your payment is held securely in escrow. The Seller does not receive the funds immediately.
- After receiving the Digital Asset, you have the opportunity to review and verify that the Product matches its listing description and functions as expected.
- Once satisfied, you confirm the purchase through your Dashboard, which releases the escrowed funds to the Seller's platform balance.
- If you do not confirm or dispute the purchase within thirty (30) days, the system automatically confirms the transaction and releases funds to the Seller.
- During the escrow period, you may file a dispute if the Product does not meet expectations.
The escrow system ensures that Sellers are motivated to deliver quality Products, and Buyers have recourse if a Product is not as described.
3. Refund Eligibility
You may be eligible for a refund under the following circumstances:
- Product Not as Described: The Digital Asset materially differs from what was represented in the Product listing, including functionality, features, compatibility, or content.
- Non-Functional Product: The Digital Asset does not function as described, contains critical bugs that prevent normal use, or is incompatible with the stated system requirements.
- Non-Delivery: The Seller fails to deliver the Digital Asset within a reasonable timeframe after payment confirmation.
- Duplicate Purchase: You accidentally purchased the same Product more than once.
- Unauthorized Transaction: A purchase was made on your account without your authorization.
All refund requests are evaluated individually. We consider the specific circumstances, available evidence, and communication history between the Buyer and Seller when making refund decisions.
4. How to Request a Refund
To request a refund, follow these steps:
- Step 1: Navigate to your Dashboard and locate the order in question under "My Purchases."
- Step 2: Open a dispute by clicking the "Report" button or by contacting the Seller through the in-platform messaging system to attempt resolution.
- Step 3: If direct resolution with the Seller is unsuccessful, file a formal dispute. Provide a clear description of the issue, including screenshots, error messages, or other evidence supporting your claim.
- Step 4: A T|EUM administrator will review the dispute, which may involve requesting additional information from both parties.
- Step 5: Once a decision is made, you will be notified via email and platform notification. If a refund is approved, it will be processed through Paddle to your original payment method.
We strongly encourage Buyers and Sellers to attempt to resolve issues directly through our messaging system before filing a formal dispute.
5. Refund Processing Timeline
The following timelines apply to our refund process:
- Dispute Review: T|EUM administrators aim to review and respond to disputes within five (5) business days of filing.
- Refund Processing: Once a refund is approved, Paddle initiates the refund to your original payment method within two (2) business days.
- Funds Availability: Depending on your payment method and financial institution, refunded funds typically appear in your account within five to ten (5-10) business days after Paddle processes the refund. Credit card refunds may take up to one billing cycle.
- Currency Conversion: If your original payment involved currency conversion, the refunded amount may differ slightly due to exchange rate fluctuations between the time of purchase and refund.
6. Dispute Resolution
Our dispute resolution process is designed to be fair and transparent for all parties:
- Both the Buyer and Seller will have the opportunity to present their case and provide supporting evidence.
- T|EUM administrators serve as neutral mediators and will review all available information, including Product listings, transaction records, chat messages, and submitted evidence.
- Possible outcomes include: full refund to the Buyer, partial refund, release of funds to the Seller, or other remedies as appropriate.
- All dispute decisions are made at T|EUM's sole discretion and are final, except where prohibited by applicable consumer protection laws.
- We reserve the right to suspend accounts of Users who repeatedly engage in disputes that are found to be fraudulent or in bad faith.
7. Non-Refundable Situations
Refunds are generally NOT available in the following situations:
- Buyer Confirmation: Once you have explicitly confirmed receipt and satisfaction with the Product through the Dashboard escrow confirmation, funds are released to the Seller and cannot be refunded through T|EUM.
- Automatic Confirmation: If thirty (30) days have elapsed since purchase without the Buyer filing a dispute or confirming receipt, the transaction is automatically confirmed.
- Change of Mind: Refunds are not granted simply because you changed your mind, no longer need the Product, or found a similar Product elsewhere.
- Incompatibility Not Listed: If system requirements and compatibility information were clearly stated in the Product listing and you failed to verify before purchase.
- Partial Use: If you have substantially used, deployed, or integrated the Digital Asset before requesting a refund.
- Price Disputes: Disagreements about the value or pricing of a Product after purchase.
- Third-Party Issues: Problems caused by your own hardware, software, internet connection, or third-party services not related to the Product itself.
8. Chargebacks
We strongly encourage all Buyers to use our dispute resolution process before initiating a chargeback with their bank or credit card company:
- Filing a chargeback without first attempting resolution through T|EUM may result in your account being suspended or permanently banned.
- Chargebacks that are determined to be fraudulent or filed in bad faith may result in permanent account termination and forfeiture of any remaining account balance.
- If you have an active dispute with T|EUM and file a chargeback simultaneously, the Platform dispute will be closed and the chargeback process will take precedence.
- T|EUM will provide transaction evidence to your financial institution to respond to chargeback disputes.
9. Seller Payouts
Seller payouts are processed through Stripe Connect:
- Sellers may request a withdrawal of their accumulated platform balance once it reaches the minimum threshold of $25.00 USD.
- Payout requests are processed within two to five (2-5) business days. Actual delivery time depends on the destination country and bank.
- Stripe transfer fees are included in the platform commission. T|EUM does not add additional fees to payouts.
- Sellers must complete Stripe Connect onboarding in their Dashboard before requesting their first payout.
- If a refund is issued after funds have been credited to a Seller's balance, the refunded amount will be deducted from the Seller's balance. If the balance is insufficient, the Seller's account may carry a negative balance until resolved.
10. Currency and Conversion
T|EUM operates in US Dollars (USD) as its base currency:
- Product prices are listed in USD. Currency conversion may be applied by your financial institution at checkout.
- Refunds are processed in the original transaction currency. Due to exchange rate fluctuations, the refunded amount in your local currency may differ slightly from the original charge.
- Seller payouts through Stripe Connect are processed in USD. Currency conversion to the Seller's local currency is handled by Stripe at competitive exchange rates.
- Neither T|EUM nor our payment partners are responsible for any exchange rate differences or fees charged by your bank or financial institution.
11. Contact Us
If you have questions about our Refund Policy or need assistance with a refund request, please contact us:
- Email: support@teum.io
- Website: https://teum.io/contact
- Response Time: We aim to respond to all inquiries within one (1) business day.
For payment-specific questions (charges on your statement, payment methods), please contact us at support@teum.io.