Refund & Cancellation Policy
Last updated: March 2025 | Effective Date: March 2025
This Refund and Cancellation Policy governs the payment, cancellation, and refund terms applicable to educational institutions ("College") subscribing to the PlaceGrad platform. PlaceGrad is a B2B Software-as-a-Service (SaaS) platform — the primary commercial relationship is between PlaceGrad and the College, governed by a signed Memorandum of Understanding (MoU). Individual students use the platform free of charge as provided by their institution.
1. Payment Terms
Platform access is billed on an annual basis. Fees are as agreed in the signed Memorandum of Understanding (MoU) between PlaceGrad and the College. For pricing details, please contact support@placegrad.com.
- Platform Access: Annual subscription fee as per the MoU
- Test Module (Add-on): Priced separately per quote — not included in the base platform fee
PlaceGrad will raise a tax-compliant invoice at the commencement of each academic year, or upon onboarding for mid-year enrolments. Payment is due within the period specified in the MoU. Accounts with overdue payments may be suspended until all outstanding dues are cleared.
For renewal terms, PlaceGrad reserves the right to revise platform fees with advance written notice as specified in the governing MoU. Continued use of the platform after the revised fee takes effect constitutes acceptance of the new fee.
2. Lock-In Period
The first three (3) months from the Effective Date of the MoU constitute a Lock-in Period. During this period, either party may serve notice of termination, but early termination fees will apply as set out below.
3. Cancellation by the College
A College may cancel the service agreement at any time by providing 30 days' written notice. The financial consequences depend on when notice is served:
3.1 Termination During the Lock-In Period (within first 3 months)
If notice is served during the Lock-in Period, the College shall pay an early termination fee equivalent to three (3) months' platform access fees, calculated on the number of Active Students at the time of notice, in addition to all outstanding dues. Any prepaid fees in excess of this amount will be refunded within 15 days of the effective termination date.
3.2 Termination After the Lock-In Period (after 3 months, before year-end)
If notice is served after the Lock-in Period but before the end of the contracted annual term, the full annual platform access fees for 12 months, calculated on the number of Active Students at the time of notice, shall become due and payable in their entirety. No refund will be issued on fees already paid, and any unpaid balance of the annual fee will become immediately due.
By entering into the MoU, the College expressly acknowledges and agrees to this termination fee structure, recognising that it has been a material inducement for PlaceGrad to enter into the agreement.
4. Cancellation by PlaceGrad
If PlaceGrad terminates the service agreement without cause before the end of the contracted annual term, PlaceGrad will refund to the College a pro-rata amount of any prepaid fees corresponding to the unused portion of the term. No early termination fee will be charged to the College in this scenario.
5. Termination for Cause
In the event of termination due to a material breach by PlaceGrad (e.g., sustained failure to maintain platform availability despite a cure notice), the College is entitled to a pro-rata refund of prepaid fees for the unused term.
In the event of termination due to material breach by the College (e.g., non-payment, unauthorised use), all fees accrued up to the effective termination date remain due and payable. No refund will be issued for the remaining unused term.
6. Test Module — Separate Billing
The Test Module is an optional add-on billed separately from the base platform fee. Test purchases made by recruiters (for pre-placement assessments) are non-refundable once the test has been assigned to candidates and the assignment has been delivered to the student's dashboard.
7. Taxes
All fees are exclusive of applicable taxes unless stated otherwise. The College is responsible for bearing all taxes, levies, and statutory charges on the invoiced amounts. Tax-compliant invoices will be provided for all payments.
8. Refund Processing
Where a refund is applicable and approved, PlaceGrad will process the refund within a reasonable timeframe from the effective termination date. Refunds will be issued via bank transfer to the College's registered bank account. PlaceGrad will not be responsible for any bank processing delays beyond our control.
9. Disputes
Any disputes regarding invoices or refunds must be raised in writing within 30 days of the invoice date or the disputed event. Disputes will be handled in accordance with the dispute resolution process outlined in the governing MoU and PlaceGrad's Terms of Service.
10. Contact Us
For any questions about billing, payment, or refunds, please contact:
- Email: support@placegrad.com
- Address: PlaceGrad, Kochi, Kerala, India
- Response time: Within 48 business hours