This Refund & Reversal Policy (“Policy”) forms an integral part of the Terms of Use governing the Bitsduck Platform. By using the Services, you agree to the terms set out in this Policy. If you do not agree, you must discontinue use of the Services. Continued use after updates to this Policy constitutes acceptance of the revised terms.

1. General Principles

1.1. All cryptocurrency exchange operations conducted through Bitsduck are final, subject only to the reversal scenarios described in this Policy.

1.2. As a non-custodial MSB registered with FINTRAC, Bitsduck does not hold client funds or client crypto at any time. Reversals can occur only prior to execution.

1.3. Bitsduck does not provide investment advice, portfolio management, order-execution services on behalf of clients, or any custodial wallet services.

2. Completed Transactions Are Final

2.1. Once Bitsduck executes a Client Order and the cryptocurrency is sent to the self-hosted wallet provided by the Client, the transaction becomes irreversible.
This conforms to the blockchain protocol and to the Terms of Use (Section 7.7, 7.12).

Bitsduck cannot retrieve or reverse blockchain transfers after execution, nor can it compensate for market fluctuations.

3. When a Reversal May Occur

A reversal may be initiated only when an order cannot be completed due to:

3.1. KYC/AML Non-Completion

• A successful KYC verification is required before Bitsduck may proceed with settlement.
• If a Client refuses or fails to complete KYC, Bitsduck will initiate a reversal.

3.2. AML/CTF Compliance Restrictions

• If Bitsduck determines, based on risk assessment or regulatory obligations, that it cannot proceed with the exchange (e.g., suspicious activity, sanctions concerns, prohibited jurisdiction), Bitsduck will initiate a reversal. This follows the Terms (Sections 7.5, 8.14).

3.3. Invalid or Third-Party Payment Sources

• Fiat must come from a same-name External Account; crypto must originate from the Client’s self-hosted wallet.
• If name mismatch or ownership cannot be verified, Bitsduck may decline the order and initiate a reversal.

3.4. Technical or Pricing Errors

• In rare situations where an operational or pricing error results in an order that cannot be completed at the displayed conditions, Bitsduck may cancel and reverse the payment (terms of Use, Section 7.12).

4. Reversal Process & Timelines

4.1. If a reversal is triggered under this Policy, Bitsduck will return funds only to the original source account or wallet, unless otherwise permitted under Canadian AML requirements and after verifying ownership of an alternative payment destination.

4.2. Reversals are processed within up to five (5) business days, provided:

• the Client has supplied any required documents;
• compliance checks are complete;
• the transaction has not been executed on-chain.

This aligns with Terms Section 8.13–8.15.

4.3. Any network fees, card processor fees, FX fees, or banking charges already incurred cannot be refunded and may be deducted from the reversal amount.

5. Important Conditions

5.1. Cryptocurrency Valuation

• Because Bitsduck does not hold crypto, any crypto returned due to reversal is calculated based on the CAD value at the time Bitsduck received the Client’s transfer, not at the time the reversal is processed.

5.2. Additional Documentation

Upon reversal request or compliance review, Bitsduck may request:

• identity documents
• source-of-funds/source-of-crypto evidence
• payment confirmation
  wallet ownership proof

Failure to provide documents within 15 business days may result in rejection of the reversal request.

5.3. Fraud or Illegal Activity

Bitsduck may decline a refund or reversal if it suspects the Client is involved in:

• fraud
• chargebacks
• use of stolen payment instruments
• money laundering or other prohibited activity
  (Terms of Use, Section 7.12, Annex 1–2).

6. Unclaimed Funds

If Bitsduck is unable to return funds due to incomplete information or prolonged inactivity, Bitsduck may be required to remit such funds according to Canadian unclaimed property legislation, as stated in Section 8.15 of the Terms of Use.

7. How to Request a Refund/Reversal

Clients must submit a request to:
📩 [email protected]
Subject: “Refund/Reversal Request”

The request must include:

• Full name
• Order ID
• Explanation of the issue
• Any documents Bitsduck requests during review

Bitsduck will acknowledge receipt and provide instructions for next steps.