Refund & Cancellation Policy

§ 1Cancellation

You may cancel Your Subscription at any time through the customer portal or by emailing [email protected]. Cancellation is effective at the end of the current billing cycle. There is no minimum term and no cancellation fee.

§ 2What happens when You cancel

1. The current billing cycle continues until its scheduled end date;
2. You retain Your perpetual license to the version of the Software delivered to You as of the cancellation date (the "Acquired Version" — see Software License Agreement § 3);
3. You stop receiving Updates and Support at the end of the cycle;
4. Your account-portal access is preserved for 60 days for downloading final invoices and exporting any account-side data, after which it is closed.

§ 3Refundability of Subscription Fees

3.1 First-month satisfaction guarantee

For Your first paid month on a new Subscription Tier, You may request a full refund within fourteen (14) calendar days of the charge if the Software does not function in Your environment as documented. This applies once per customer per new Subscription Tier upgrade. To request, email [email protected] with the reproduction details.

3.2 Subsequent monthly cycles

After Your first month, monthly Subscription Fees are non-refundable. The current cycle continues to its scheduled end and is not pro-rated for cancellation.

3.3 Annual prepayment

Annual prepaid Subscriptions are non-refundable after the fourteenth (14th) day of the prepayment period. The discount associated with annual prepayment is offered in exchange for the commitment; refund availability is therefore limited.

3.4 Multi-year prepaid Subscriptions

Multi-year prepaid arrangements signed under a separate Order Form follow the refund terms in that Order Form, which override this Section 3.

§ 4Acquisition tier — final sale

The Acquisition tier ($750,000 one-time IP transfer) is final sale. No refunds, returns, or partial cancellations are available once the IP-transfer documents are executed and the codebase is delivered. Pre-execution due-diligence is unrestricted; post-execution, the deal is irrevocable.

§ 5Pilot rates and discounted rates

Pilot rates, charter rates, and other promotional pricing offered to qualifying institutions are non-refundable and run for the duration documented in the Order Form. Customers may cancel at the end of the pilot period without further obligation; mid-pilot cancellation does not generate a refund.

§ 6Disputes

If You believe a charge was made in error, contact [email protected] within thirty (30) days of the charge. Bona fide billing errors are corrected promptly. Other disputes are resolved per the dispute-resolution provisions of the Software License Agreement.

§ 7Chargebacks

Initiating a chargeback through Your card issuer without first contacting Veklom to resolve the dispute is a material breach of the Software License Agreement and may result in immediate suspension of Updates and Support, and termination of the perpetual license under Section 13. Please email us first.

§ 8Service Level credits

Service-credit remedies for missed SLA targets are described in the Service Level Agreement. Such credits are applied to future invoices and are not paid in cash unless required by applicable law.