Refund & Cancellation Policy
When and how fees and deposits paid on Wattmatch are refunded.
1. No monetary refunds are processed through Razorpay
Both fees Wattmatch collects through Razorpay — the Bid Purchasing Fee and the Bid Processing Fee — are non-refundable once paid (see Sections 2 and 3). The only item ever "returned" on Wattmatch is the EMD, which is not a payment at all (Section 4). As a result, no payment made through Razorpay is ever reversed or refunded under this policy.
2. Bid Purchasing Fee
This fee is charged once, to accept a tender invitation and enroll to submit a bid, and is non-refundable once paid — it reflects a service (enrollment into the tender process) that has already been delivered. Tender documents themselves are freely available regardless of whether this fee has been paid.
3. Bid Processing Fee
This fee is charged once your technical and financial bid is accepted into the vetting queue, and is non-refundable regardless of the outcome of the technical review — it reflects the cost of administering the vetting process itself, not a guarantee of approval.
4. Earnest Money Deposit (EMD)
The EMD is not money we collect — it is a Bank Guarantee you arrange through your own bank and submit to us as a document. "Refund" therefore means returning that document to you; it is never a payment reversal.
- Released: we return the Bank Guarantee to the address you provided once your bid's outcome no longer requires it on file — for example, you were not approved at technical review, you were approved but did not win, or you won and the tender was successfully completed.
- Invoked: if you win and then withdraw or otherwise back out, we invoke the Bank Guarantee with your issuing bank instead of returning it. This is the one case where you do not get the instrument back — it exists specifically to discourage backing out after winning.
Both outcomes are recorded by us as an explicit, reasoned decision — never automatic — since returning or invoking a physical instrument is a real-world action, not a system event.
5. How to check your EMD status
If you're expecting your EMD Bank Guarantee to be released and it hasn't arrived, contact us at hello@wattmatch.in with your tender reference and guarantee number.