# **REFUND POLICY
For Venture Capital & Private Equity Operations**
## **1. Purpose of This Policy**
This Refund Policy governs all financial contributions, capital commitments, management fees, project‑delivery fees, and related payments made to **[Firm Name]**, a venture capital, private equity, and project‑delivery firm.
Because private equity and venture capital investments are **high‑risk, long‑term, and illiquid**, refunds are generally **not permitted**. This policy clarifies the limited circumstances in which a refund may be considered.
## **2. Non‑Refundable Capital Contributions**
All capital contributions—whether:
- committed capital,
- called capital,
- investment tranches, or
- co‑investment allocations—
are **strictly non‑refundable** once received.
This is because contributed capital is immediately allocated to:
- portfolio acquisitions,
- project development,
- operational build‑out,
- due diligence,
- regulatory compliance, and
- long‑term investment structures.
**Refunds cannot be issued once capital has been deployed or contractually committed.**
## **3. Management Fees & Project‑Delivery Fees**
The following fees are **non‑refundable** under all circumstances:
- annual management fees,
- administrative fees,
- project‑delivery or project‑management fees,
- due‑diligence fees,
- structuring and legal fees,
- advisory or consulting fees.
These fees compensate the firm for services rendered, personnel time, and operational infrastructure.
## **4. Refunds in Exceptional Circumstances**
Refunds may be considered **only** in the following limited cases:
### **4.1 Duplicate Payments or Billing Errors**
If a payment was made twice or processed incorrectly, the firm will issue a refund of the erroneous amount after verification.
### **4.2 Regulatory or Compliance Requirements**
If a refund is legally mandated by a regulator, court, or governing authority, the firm will comply with the ruling.
### **4.3 Unexecuted Service Agreements**
If a client pays for a service **that has not yet begun**, and no resources have been allocated, the firm may—at its sole discretion—refund the unused portion.
## **5. No Refunds for Investment Underperformance**
Refunds will **not** be issued due to:
- market volatility,
- investment losses,
- delays in project execution,
- changes in investor risk appetite,
- dissatisfaction with portfolio performance.
All investors acknowledge the inherent risks of private equity and venture capital investing.
## **6. Withdrawal or Cancellation by Investor**
If an investor chooses to withdraw, cancel, or reduce their participation:
- no refunds will be issued,
- all obligations under the Limited Partnership Agreement (LPA) or Shareholders’ Agreement remain binding,
- the investor may be subject to penalties or forfeiture of rights as defined in the governing documents.
## **7. Refund Request Procedure**
To request a refund under the limited eligible circumstances:
1. Submit a written request to thepleiadeschurchl@gmail.com**.
2. Provide proof of payment and reason for the request.
3. The firm will review the request within **30 business days**.
4. Approval or denial will be communicated in writing.
5. Approved refunds will be processed within **15 business days** thereafter.
-# **8. Firm’s Discretion**
The firm reserves the right to:
- approve or deny any refund request,
- request additional documentation,
- determine eligibility based on internal policies and legal obligations.
All decisions are **final**.
## **9. Amendments to This Policy**
The firm may update or amend this Refund Policy at any time.
The most current version will always be available on the firm’s official website and included in investor onboarding documentation.
## **10. Acceptance of This Policy**
By making any payment, capital contribution, or fee transfer to the firm, the investor acknowledges and agrees to the terms of this Refund Policy.