Group Buying Refund Policy

A Complete, Price-Outcome–Based Refund Framework

Picapool aims to provide complete transparency on how payments, refunds, and price outcomes work during Group Buying. This policy explains when users receive refunds, what type of refund they receive, what happens at different final prices, and what exceptions apply.

1. Key Principle

When a user joins a Group Buying pool, they pay a Lock-In Price, which represents the maximum price they are willing to pay. Refunds are always calculated relative to:

  • The Final Price of the pool
  • The pool’s success/failure
  • The user’s Lock-In Price

2. Types of Refunds

Picapool issues three types of refunds during Group Buying:

A. Partial Refund – Price Drop Refund

Issued automatically when: Final Price < Lock-In Price

Refund Amount = Lock-In Price – Final Price

The user must buy the product at the Final Price.

B. Full Refund – Pool Failure Refund

Issued automatically when:

  • Pool Target Not Met
  • Product cannot be delivered
  • Seller stock becomes unavailable
  • Any critical operational failure occurs

In these cases, the entire Lock-In amount is refunded.

C. Conditional Refund – User Opt-Out Refund

Applicable only when: Final Price > Lock-In Price

In this scenario, the user may choose to:

  • Buy the product at the higher Final Price, OR
  • Opt out and receive a Full Refund

If the user does not choose within the given time, Picapool may Auto-cancel or Auto-confirm purchase.

3. Detailed Refund Logic Based on Final Price

Final Price < Lock-In Price

  • User gets the extra amount refunded automatically
  • Refund issued after pool closure
  • User receives product at Final Price
  • No cancellation allowed
Refund Example:
Lock-In = 300
Final Price = 250
Refund = 50

Final Price = Lock-In Price

  • No refund
  • User gets product at the exact price they chose
  • Transaction is final

Final Price > Lock-In Price

  • User has two options: Proceed with purchase or Opt out
  • If user chooses to buy: No refund is issued
  • If user opts out: 100% Lock-In price is refunded

4. Special Refund Scenarios

A. Payment Failure / Double Debit

Refund issued automatically if user is charged but pool is not joined, payment is stuck, or duplicate payment occurs. Type: Full Refund.

B. Delivery Failure

If a product cannot be delivered after the pool is successful: Full Refund is issued. No additional liability for delays.

C. Order Cancellation by Picapool

If Picapool cancels for operational or compliance reasons: Full Refund is issued.

5. Refund Timelines & Method

  • Processing Time: Refunds are initiated within 10 working days. Actual credit time depends on the bank/payment provider.
  • Refund Destination: Refunds will go to the Original payment source.
  • Notifications: Users are informed through In-app notifications and SMS/email (if enabled).

6. Non-Refundable Situations

  • Final Price ≤ Lock-In Price
  • User voluntarily confirms purchase at a higher Final Price
  • User fails to opt out within allowed time (when applicable)

7. User Responsibilities

  • Review Lock-In Price before joining
  • Ensure payment and delivery details are correct
  • Respond to opt-out prompts (when Final Price > Lock-In Price)
  • Comply with all platform rules

8. Platform Responsibilities

  • Secure payment processing
  • Transparent final price outcomes
  • Automatic and accurate refund calculations
  • Prompt refund initiation
  • Compliance with consumer protection norms

9. Liability Limitation

Picapool’s maximum liability is restricted to the Refund of the amount paid. Picapool is not liable for delivery delays, third-party payment delays, price fluctuations, or indirect losses.

10. Policy Updates

Picapool may modify this refund policy as needed for operational, regulatory, or product-related reasons. Users will be notified of any significant changes through official channels.