Refund & Cancellation Policy

1. Introduction

This Refund and Cancellation Policy outlines the terms and conditions governing refunds, cancellations, and modifications for yacht charter bookings, yacht purchase deposits, and other services provided by Thereence Yachts Pvt. Ltd. ("we", "us", or "our").

By booking our services or making deposits, you acknowledge and agree to the terms outlined in this policy. We recommend reading this policy carefully before making any financial commitments.

2. Yacht Charter Cancellation Policy

2.1 Cancellation by Client

Charter bookings may be cancelled by the client subject to the following cancellation fees based on the notice period provided:

• More than 90 days before charter date: 10% cancellation fee; 90% refund of total charter fee
• 60-90 days before charter date: 25% cancellation fee; 75% refund of total charter fee
• 30-59 days before charter date: 50% cancellation fee; 50% refund of total charter fee
• 15-29 days before charter date: 75% cancellation fee; 25% refund of total charter fee
• Less than 15 days before charter date: 100% cancellation fee; no refund

All cancellation requests must be submitted in writing via email to info@thereence.yachts. Cancellation is effective upon our written confirmation.

2.2 Cancellation by Thereence Yachts

We reserve the right to cancel yacht charters due to:

• Unforeseen technical issues, mechanical failures, or safety concerns with the vessel
• Extreme weather conditions or unsafe maritime conditions
• Force majeure events (see Section 6)
• Violation of charter terms by the client

In the event of cancellation by Thereence Yachts (excluding cancellations due to client violations), clients will receive:

• Full refund of all payments made, or
• Option to reschedule to alternative dates with no additional fees, or
• Credit toward future bookings valid for 24 months

2.3 Modification of Charter Bookings

Clients may request modifications to charter dates, duration, or vessel selection subject to availability:

• More than 60 days before charter: One free modification; subsequent changes incur 10% modification fee
• 30-60 days before charter: 15% modification fee
• Less than 30 days before charter: 25% modification fee

Modifications requiring upgrade to larger vessels or extended duration will require payment of price differences.

3. Yacht Purchase Deposits and Refunds

3.1 Initial Deposit

Yacht purchases require an initial deposit (typically 10-20% of purchase price) to reserve the vessel and initiate transaction processes. Deposit terms are outlined in the Purchase Agreement.

3.2 Deposit Refund Conditions

Deposits may be refundable under the following conditions:

• Vessel inspection failure: If professional marine survey reveals undisclosed material defects, full deposit refund
• Financing contingency: If pre-approved financing falls through due to lender decision (not buyer creditworthiness), full deposit refund (if specified in Purchase Agreement)
• Title issues: If seller cannot provide clear, marketable title to the vessel, full deposit refund
• Misrepresentation: If vessel materially differs from representations made by seller, full deposit refund

3.3 Non-Refundable Deposit Scenarios

Deposits are non-refundable in the following circumstances:

• Buyer withdraws from purchase for reasons not specified in refund conditions
• Buyer fails to complete purchase within agreed timeline without valid cause
• Buyer violates terms of the Purchase Agreement
• Marine survey reveals only minor, disclosed, or cosmetic issues

3.4 Partial Payment Refunds

Once deposits exceed initial reservation amounts and construction or customization has commenced, refunds will be calculated as:

• Total payments made, minus:
• Work completed and materials procured
• Non-refundable third-party fees (manufacturer deposits, customization costs)
• Administrative and processing fees (up to 5% of total)

4. Payment Processing and Refund Timeline

4.1 Refund Processing

Approved refunds will be processed as follows:

• Refund approval confirmation within 5-7 business days of cancellation request
• Refund processing to original payment method within 10-15 business days
• Large refunds (exceeding INR 50,00,000) may require up to 30 business days

4.2 Refund Method

Refunds will be issued to the original payment method whenever possible:

• Credit card payments: Refunded to original card
• Bank transfers: Refunded to original bank account
• Third-party payment processors: Refunded through original processor

If the original payment method is unavailable, we will coordinate alternative refund arrangements directly with the client.

4.3 Transaction Fees

Payment processing fees, bank transfer fees, currency conversion fees, and third-party transaction fees are non-refundable. Refund amounts will be net of these fees.

5. Weather-Related Cancellations and Postponements

5.1 Unsafe Weather Conditions

Charter services may be cancelled or postponed due to weather conditions deemed unsafe by our captain or maritime authorities. Weather-related cancellations include:

• Severe storms, cyclones, or tropical weather systems
• High wind conditions exceeding safe operational limits
• Poor visibility or hazardous sea conditions
• Government-issued maritime warnings or restrictions

5.2 Weather Cancellation Options

For weather-related cancellations initiated by Thereence Yachts, clients may choose:

• Full refund of all charter payments
• Reschedule to alternative dates within 12 months with no additional fees
• Charter credit valid for 18 months for any Thereence Yachts service

5.3 Client-Initiated Weather Cancellations

If clients choose to cancel due to weather forecasts but conditions are deemed safe by our captain, standard cancellation fees (Section 2.1) apply. We recommend consulting with our team before making weather-related cancellation decisions.

6. Force Majeure

Neither party shall be liable for failure to perform obligations due to force majeure events, including but not limited to:

• Natural disasters (earthquakes, tsunamis, floods, cyclones)
• Government actions, regulations, or maritime restrictions
• War, terrorism, civil unrest, or political instability
• Pandemics, epidemics, or public health emergencies
• Labor disputes, strikes, or work stoppages affecting operations
• Complete unavailability of vessels due to unforeseen circumstances

In force majeure situations, clients will receive full refund or option to reschedule with no penalties.

7. Chargebacks and Payment Disputes

Clients who initiate chargebacks or payment disputes through their financial institutions without first attempting to resolve issues directly with Thereence Yachts may:

• Forfeit rights to future services or bookings
• Be held liable for costs associated with chargeback processing
• Face suspension of any scheduled services pending dispute resolution

We strongly encourage clients to contact us directly at info@thereence.yachts to resolve any payment or service concerns before initiating formal disputes.

8. Special Circumstances and Exceptions

We understand that exceptional circumstances may arise. Clients experiencing medical emergencies, family emergencies, or other extraordinary situations should contact us immediately. We will review such cases individually and may offer:

• Waiver or reduction of cancellation fees
• Extended rescheduling options
• Partial refunds beyond standard policy terms

Documentation (medical certificates, official documents) may be required for special consideration.

9. No-Show Policy

Clients who fail to appear for scheduled charter services without prior cancellation (no-show) will:

• Forfeit 100% of charter fees with no refund
• Not be eligible for rescheduling or credit
• Remain liable for full payment if partial payments were made

We strongly encourage clients to contact us as early as possible if they anticipate being unable to attend their scheduled charter.

10. Amendment of This Policy

Thereence Yachts reserves the right to modify this Refund and Cancellation Policy at any time. Changes will be posted on our website with an updated "Last Updated" date. Bookings made prior to policy changes will be governed by the policy in effect at the time of booking.

11. Contact Us

For questions about this Refund and Cancellation Policy, to request cancellations or modifications, or to discuss special circumstances, please contact us:

Thereence Yachts Pvt. Ltd.
102 Marine Drive, Mumbai, Maharashtra, India
Email: info@thereence.yachts
Phone: +91 98200 12345
Hours: Monday-Saturday, 9:00 AM - 7:00 PM IST