Refund & Commitment Fee Policy

1. About this policy

This policy explains when payments made to Oyin of North America ("Oyin") can be refunded: commitment fees on auction bids, deposits and installments on vehicles from Oyin's own inventory, and parts and maintenance add-ons. It forms part of our Terms & Conditions, which you accept before your first payment. Effective date: [EFFECTIVE DATE].

2. Commitment fees on auction bids

Before we bid for you at Copart or IAA, we agree a maximum bid with you and you pay a commitment fee. It confirms your instruction and covers our exposure at the auction.

• If we win the vehicle, the commitment fee counts towards the vehicle. It is shown as paid on your vehicle's payments.
• If the bid is lost, or the vehicle is withdrawn before the auction, the commitment fee is refunded in full, less [bank or transfer charges, if any].
• If you cancel after we have placed the bid, or you do not complete payment for a vehicle we won on your instruction, the commitment fee is not refundable. It may be applied to auction fees, penalties or relisting costs charged to us.

3. Deposits on Oyin inventory

A deposit reserves a vehicle from our own inventory for you, and we stop offering it to other buyers.

• If we cannot complete the sale (for example, the vehicle is damaged or its documents cannot be released), your deposit and any installments are refunded in full.
• If you cancel after reserving, we refund your deposit less [cancellation charge or percentage], unless we agree otherwise in writing.
• If the balance is not paid within [number] days of the due date and we have not agreed new dates with you, the reservation may be released. Refunds on a released reservation follow the cancellation terms above.

4. Installments

Installments count towards the vehicle's agreed price. Each one appears in your payment history with its date and reference, and is never removed. When a sale is cancelled, the refund covers what you paid, less any charge that applies above.

5. Parts and maintenance add-ons

Items you add to your vehicle can be cancelled free of charge until they are packed. Once packed or loaded with your vehicle, they are not refundable unless they are faulty or not what you ordered.

6. How refunds are paid

Refunds are paid in naira by bank transfer to the account that made the payment, or to another account in your name that you confirm in writing. We aim to pay within [number] business days of approving the refund, and you receive the amount, date and reference in your account. Refunds do not include exchange rate differences between the payment date and the refund date.

7. How to ask for a refund

Contact us at [support email] or [WhatsApp number] with your vehicle or bid request reference. We confirm receipt within [number] business days and keep you updated in your account as the refund moves from Requested to Processing to Refunded.

8. Questions and disputes

If you disagree with a decision, reply to our message or write to [complaints contact] and a senior member of the team will review it. This policy is governed by the laws of [GOVERNING LAW].