Refund Policy.

01Scope and Application

This Refund Policy explains how SIMODI GOLD FZCO (“SIMODI GOLD”, “we”, “us”, or “our”), a company registered with the Dubai Multi Commodities Centre (“DMCC”), with its registered address at 1902, The Dome Tower, Cluster N, JLT, Dubai, United Arab Emirates, handles refunds, cancellations, reversals, withdrawals and related payment matters arising from the use of the SIMODI GOLD mobile application (the “App”), website (the “Website”), and related products and services (the “Services”).

This Refund Policy applies to payments, deposits, purchase requests, sale proceeds, disputed payments, rejected payments, cancelled transactions, and physical redemption requests made through the Services, and should be read together with the SIMODI GOLD Terms and Conditions.

This Refund Policy also applies to purchases of physical gold and silver products through SIMODI Mart.

Payments, refunds, withdrawals, sale proceeds, or redemptions may be delayed, refused, adjusted, cancelled, reversed, or returned where required or appropriate for legal, compliance, sanctions, fraud, security, banking, payment, operational, market, pricing, liquidity, logistics, vault, tax, or risk reasons.

02Payments and Deposits

SIMODI GOLD may accept payment through bank transfer, debit card, credit card, payment gateway, or other approved methods. Payments must come from accounts, cards, or payment methods held in the verified user’s name.

SIMODI GOLD does not normally accept third-party payments and may reject, return, freeze, hold, investigate, or report third-party, suspicious, mismatched, duplicate, chargeback-related, unverifiable, or irregular payments.

03Transaction Acceptance and Cancellation

A purchase is confirmed only when payment is successfully received in accordance with the applicable payment method, compliance checks are completed, SIMODI GOLD accepts the transaction, and the relevant metal quantity is credited to the user account.

An order, payment, sale request, purchase request, transfer, gift, redemption request, withdrawal, or instruction is not guaranteed to be accepted. SIMODI GOLD may reject, delay, cancel, reverse, amend, or refuse to process any request for legal, compliance, security, operational, market, liquidity, payment, pricing, fraud, sanctions, tax, banking, logistics, vault, technology, or risk reasons.

04Refunds and Withdrawals

Where a refund, cancellation, or reversal is approved, SIMODI GOLD aims to initiate the refund within five (5) business days of approval. This timeframe may be extended where processing is affected by circumstances beyond SIMODI GOLD’s reasonable control. Actual receipt of funds by the user depends on the processing timeframes of the user’s bank or payment provider, which are outside SIMODI GOLD’s control and may take longer, particularly for cross-border or currency-converted refunds. SIMODI GOLD will provide a status update on request if a refund has not been received within a reasonable time after initiation.

Sale proceeds will be credited to the user’s SIMODI GOLD Wallet. Refunds and withdrawals of available Wallet funds will be processed to the approved bank account saved in the user’s account, subject to applicable compliance and verification requirements.

Deposits, withdrawals, refunds, and sale proceeds may be delayed due to bank processing, payment-provider review, compliance checks, sanctions screening, fraud checks, technical issues, weekends, public holidays, currency conversion, or third-party provider delays. SIMODI GOLD is not liable for delays outside its reasonable control.

Fees, charges, spreads, taxes, payment processing fees, bank charges, failed-payment fees, chargeback fees, currency conversion charges, storage fees, redemption fees, delivery fees, insurance fees, minting or fabrication fees, and other applicable charges may be deducted from refunds, withdrawals, sale proceeds, metal balances, or account balances where permitted by law.

05Chargebacks and Disputed Payments

If a user initiates a chargeback, card dispute, payment reversal, cancellation request, bank recall, or similar process after using SIMODI GOLD, SIMODI GOLD may, where reasonably necessary, suspend the account, freeze metal holdings, withhold withdrawals, reverse or cancel transactions, set off amounts owed, recover fees, reject further orders, or terminate the account.

If SIMODI GOLD reasonably suspects that a chargeback, cancellation, or payment dispute is dishonest, abusive, fraudulent, mistaken, or inconsistent with the user’s completed transaction, SIMODI GOLD may investigate, provide records to banks and payment providers, recover losses, and report the matter where required or permitted by law.

06SIMODI Mart Physical Product Returns and Cancellations

Once a SIMODI Mart order for physical gold or silver products has been accepted and confirmed by SIMODI GOLD, the purchase is final and users do not have a right to cancel the order or return the product due to a change of mind. SIMODI GOLD may, at its discretion, agree to a cancellation in exceptional circumstances. Where a cancellation is accepted, SIMODI GOLD may deduct applicable disclosed fees, non-recoverable costs and any actual market loss directly resulting from the cancellation, to the extent permitted by applicable law.

If a product is delivered defective, damaged, incorrect or materially different from its description, the user should notify SIMODI GOLD within seven (7) days of delivery. This period does not limit any rights that may apply under applicable law where a defect or issue could not reasonably have been identified within that period.

Eligible returned products will be subject to inspection and verification by SIMODI GOLD. SIMODI GOLD will ordinarily provide a like-for-like replacement. Where applicable law entitles the user to a refund or another remedy, SIMODI GOLD will provide the applicable remedy. Any refund required under applicable law will be based on the original purchase price paid by the user and not the prevailing market value of the relevant metal.

Returned products must remain in their original product-level packaging, with any tamper-evident seal, assay card, or similar packaging intact and undamaged, together with any certificate or documentation supplied with the product. Opening external delivery or courier packaging will not by itself affect the user’s ability to raise a claim. Where product-level packaging or a seal has been opened, broken, removed or altered, SIMODI GOLD may refuse the return, except where the alleged defect could not reasonably have been identified without opening the packaging or where otherwise required by applicable law.

07Redemption and Delivery

Users may request physical redemption of gold or silver where available through the App or approved SIMODI GOLD channels. Physical delivery is currently available only to eligible addresses within the United Arab Emirates. Redemption may be available as gold bars, silver bars, coins, minted products, or other approved products. SIMODI GOLD may set minimum and maximum redemption amounts and available product formats.

Users are responsible for redemption fees, minting fees, fabrication fees, delivery fees, insurance fees, and VAT, and for completing any required identity checks and making appropriate receiving arrangements.

Redemption requests may be delayed or rejected due to compliance checks, insufficient balance, product unavailability, logistics disruption, failed delivery, force majeure, sanctions restrictions, unpaid fees, or account restrictions.

If delivery fails because the user provides inaccurate information, is unavailable, fails identity checks, refuses delivery, or does not cooperate, SIMODI GOLD may cancel the delivery request, charge re-delivery or storage fees, return the item to custody, sell or re-credit the metal, or process the matter as reasonably appropriate.

08Unresolved Refund Disputes

If a user is not satisfied with the outcome of a refund, cancellation, or reversal decision, the user may raise the matter in accordance with the SIMODI GOLD Complaints Handling Policy. Complaints relating to refunds will be reviewed and responded to in line with the timeframes set out in that policy, and, if unresolved, may be escalated in accordance with the Dispute Resolution provisions of the SIMODI GOLD Terms and Conditions.

09Contact

All refund, payment, cancellation, chargeback, withdrawal, and redemption questions should be sent to SIMODI GOLD FZCO at the registered address, by email, or by phone: