What are the rules for getting a refund?
For full refund within 2 hours after payment, please look here to view the rules.
I. Quick Refund:
Buyers are eligible to apply for a quick refund for any direct purchase Trade Assurance Orders on Abrasivestocks within 2 hours of the buyers' successful payment excluding the scenario that supplier has already shipped. The system will provide an automatic refund to reduce buyers’waiting time, provided the amount of the Trade Assurance order is within the relevant limit and buyers are not required to negotiate with the seller.
II. Conditions and Process:
Eligible type of orders: Any direct purchase Trade Assurance order placed by buyers with an order amount not exceeding USD 200; Usage: Buyers can apply for a quick refund of any direct purchase Trade Assurance order automatically generated by the system and without having to negotiate with the seller within 2 hours of the order being successfully paid by the buyer excluding the senario that supplier has already shipped goods as order requires.
Supported online payment methods: T/T, Online Transfer, Online Bank Payment, Apple pay, Ali pay,WeChat pay and Google pay
For Late Delivery Refund, please look here to view the rules.
1. Right to Late Delivery Refund:
Refund for late delivery is applicable to Trade Assurance Orders that are directly placed by a buyer on Abrasivestocks and where payment has already been made by the buyer. In the event where a buyer initiates an application for a full refund of the amount paid for its Trade Assurance Order due to late delivery, Abrasivestocks shall require the seller to respond to the buyer’s refund application within 72 hours. During this 72 hour period, the seller and the buyer should reach a consensus as to whether the refund application may be cancelled such that the order can be still be delivered to the buyer. If the seller fails to respond within the 72 hour prescribed time limit and the buyer has not cancelled the refund application, Abrasivestocks will automatically provide a refund to the buyer. For the avoidance of doubt, the amount to be refunded to the buyer shall not include any applicable transaction service fee(s) paid by the buyer.
2. Conditions and process:
（a)Applicable to Trade Assurance Orders placed directly by the buyer and the total transaction amount of such Trade Assurance Order shall not exceed US$200;
(b) The buyer will be entitled to initiate an application for refund if the order status for its Trade Assurance Order is “Pending Delivery”, and the order is tagged on the system with "Late Delivery"; and
(c) Buyers must have paid for the Trade Assurance Order by way of T/T, Online Transfer, Online Bank Payment, Apple pay, Ali pay,WeChat pay and Google pay to be entitled for a refund.
3. Limitation on the Right to Late Delivery Refund:
There is no limitation on the number of applications for such refund. All Trade Assurance Orders that have met the conditions in section II above shall be handled in accordance with this explanatory note.
For Quick Refund Where the Seller Fails to Respond to the Buyer Within Five Days, please click here to view the rules.
To streamline the end-to-end after-sales process of Trade Assurance online orders directly placed by buyers (“Buyer”) on the Abrasivestocks platform (“Trade Assurance Orders)"), Abrasivestocks has updated its Quick Refund rules for Trade Assurance Orders. The details are as follows:
1.After the Buyer submits or modifies a refund request on the Abrasivestocks platform, the seller of such product on the Abrasivestocks platform ("Seller") must respond to the Buyer's request within five (5) calendar days . If the Seller fails to respond within five (5) calendar days after the Buyer submits its request, the Abrasivestocks platform will fulfill the Buyer's refund request. The refund does not include any service fee(s) paid by the Buyer.
2.Where the Seller provides an alternative resolution for the Buyer’s refund request, the Buyer must respond to the Seller’s alternative resolution within five (5) calendar days . If the Buyer does not respond to the Seller's alternative resolution within five (5) calendar days, the Abrasivestocks platform will cancel the Buyer’s refund request.
3. After the Seller provides its initial response to the Buyer’s refund request, both the Buyer and the Seller can request the Abrasivestocks platform to step in if required. The entire duration of the refund negotiation shall be no longer than thirty (30) calendar days (“Prescribed Period”). If the Buyer and the Seller fail to reach an agreement within the Prescribed Period, the Abrasivestocks platform will automatically step in to process the Buyer’s refund request.
II. Conditions :
1.Order type: Trade Assurance Orders, with an order amount not exceeding US$200.
2.Supported online payment methods:T/T, Online Transfer, Online Bank Payment, Apple pay, Ali pay,WeChat pay and Google pay
III. Other information:
1. Quick Refunds were previously available to Buyers for Trade Assurance Orders in the following two (2) scenarios: (i) a full refund within two (2) hours after payment by the Buyer and (ii) a full refund provided when an order is cancelled due to late shipment and no response is provided by the Seller within 72 hours of submitting a refund request.
2.This explanatory note has now introduced a third scenario which shall apply where a Buyer submits a refund request and the Seller fails to respond within five (5) calendar days, the Abrasivestocks platform will fulfill the refund request in accordance with the rules in this explanatory note.
3.The aforementioned rules apply to Trade Assurance Orders from the date this explanatory note is published.