Members. We do not offer refunds to Members purchasing a membership plan in UBSBC Projects.
The Offering Document sets out the full terms on which the member agrees to subscribe to such membership plans. We encourage members to think hard and do their own due diligence before making a contribution to a project, as they are no options to withdraw once you process your payment. So, therefore, UBSBC does not offer refunds.
If, at any point in time, any of the following occur:
- UBSBC makes a general assignment for the benefit of its members;
- UBSBC commences or institutes any application, proceeding or other action under any requirement of law relating to bankruptcy, insolvency, winding-up, reorganization, administration, plan of arrangement, relief or protection of debtors, compromise of debts or similar laws;
- there is a discontinuation of the operations of the UBSBC portal for any reason;
within two business days of the occurrence of any of the actions listed above, UBSBC will notify all members who have membership plans with UBSBC projects, and all projects currently offering membership on the UBSBC platform and how it will impact them.
In the case that there is a discontinuation of the operations of the UBSBC website for any reason, all member funds held by UBSBC that haven’t been used for the projects will be refunded back to members by UBSBC within five business days.
In order to effect any refund, additional anti-money laundering or other checks to verify the identity of the transferee of the funds and the recipient of the funds may need to take place, prior to its return. Accordingly, in order to ensure compliance with anti-money laundering obligations, there may a delay in returning funds to a member who cancels their membership plans until these checks have been completed satisfactorily and they have fully complied with their obligations under the anti-money laundering regulations.
General. We hold the right to change/update the refund policy without prior notice. All refunds will be treated with the refund policy live on that date.