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VFSC Cancellation and Refund Policy

Effective Date: 4th of December 2024

  1. Introduction

This policy outlines the terms and conditions governing cancellations and refunds for services provided by the Vanuatu Financial Services Commission (VFSC).

This policy applies to all VFSC services, including registrations, licensing, filings, and compliance-related submissions.

  1. General Non-Refundable Policy

All fees paid to VFSC are non-refundable, unless otherwise stated in this policy.

Fees are charged for regulatory processing, assessment, and compliance review, and therefore remain payable regardless of the outcome of an application, including where applications are approved, rejected, withdrawn, or delayed.

  1. Cancellation of Transactions

Once a payment has been successfully processed, it cannot be cancelled.

Applicants are responsible for ensuring that all application details and payment information are accurate prior to submission.

  1. Regulatory Basis

VFSC fees reflect statutory and regulatory obligations, including due diligence, fit and proper assessments, and compliance reviews.

Fees relating to licensing applications, annual returns, regulatory filings, and compliance submissions remain payable even if:

  • an application does not proceed, or
  • penalties or enforcement actions apply.
  1. Exceptional Refunds
Refunds may be considered only in limited and exceptional circumstances, at VFSC’s sole discretion, including:

  • Duplicate payments
  • Verified technical or system errors
  • Service failure directly attributable to VFSC

All refund requests must:

  • be submitted in writing within 30 days of the transaction date; and
  • include full supporting documentation.

Requests submitted after this period will not be considered.
  1. Third-Party Payment Services

Payments processed through third-party service providers are subject to the terms and conditions of those providers.

VFSC is not responsible for delays, failures, or additional charges arising from third-party systems or user input errors.

  1. Contact Information

For cancellation or refund inquiries, please contact:

Email

walillee@vfsc.vu

Phone

+678 22247

  1. Acknowledgment

By completing a transaction with VFSC, you acknowledge that you have read, understood, and agreed to this Cancellation and Refund Policy.