Refund & Return Policy

Contents

1. Introduction & Scope

Smart Gold Trade ("SGT", "we", "us", "our") — operated by SGT Systems Ltd. — offers financial services structured under the principles of Islamic Shariah. This Refund & Return Policy governs how funds are returned, withdrawn, or settled across all service types available on the platform.

This policy applies to all registered clients and supersedes any prior refund terms. By using our platform, you acknowledge that the nature of each contract type determines whether a refund, withdrawal, or profit/loss settlement applies — not a conventional "consumer refund" model.

Important: SGT does not offer conventional money-back guarantees on investment services. Any return of funds from investment accounts reflects the actual performance of that investment, distributed according to the applicable Shariah contract.

2. Islamic Finance Principles Governing This Policy

All investment and trading services at SGT are structured under recognised Islamic finance contracts. The following core Shariah principles directly govern how profits and losses are handled:

These principles mean that:

• No investment product can guarantee a fixed return — any such guarantee would constitute Riba (usury/interest).
• Capital loss in investment plans is an inherent risk of participation, not an error to be refunded.
• SGT does not act as an insurer or guarantor of client capital in Mudarabah or Musharakah arrangements.
• Profit is distributed only when it is realised — not advanced or guaranteed.

3. Mudarabah Investment Plans — Profit & Loss Rules

3.1 Structure

In a Mudarabah arrangement, the client (Rab-ul-Mal) provides 100% of the capital, and SGT (Mudarib) provides the expertise, management, and trading effort. The client provides money; SGT provides labour.

3.2 Profit Distribution

Profits are shared at the agreed ratio stated in the Mudarabah agreement — typically 70% to the client / 30% to SGT. Profit is distributed only after realisation and settlement at the end of the agreed term or cycle.

3.3 Loss Rules — Shariah Position

• Client loss: Bears 100% of any capital loss.
• SGT loss: Loses the management effort and time only — no financial compensation is paid to SGT in a loss scenario.
• No refund of losses: Capital losses in Mudarabah are not errors and are not subject to refund. They are the inherent risk of the contract.
• Misconduct exception: If SGT is found to have acted with gross negligence (Taqsir) or in wilful violation of agreed terms, the client may seek compensation through the complaints and dispute process.

3.4 Withdrawal from Mudarabah

• Cooling-off (7 calendar days): A client may withdraw the full capital within 7 days of investment commencement, provided no active position has been opened. An administrative processing fee applies.
• After 7 days — mid-term exit: Early withdrawal is permitted subject to the terms in your individual plan agreement. Where the investment is ongoing, realised profits or losses at the point of exit will be applied before settlement.
• At maturity: Capital plus realised profit (net of SGT's share) is returned at the end of the agreed plan term.

4. Musharakah Investment Pools — Profit & Loss Rules

4.1 Structure

In a Musharakah arrangement, both the client and SGT contribute capital. SGT maintains approximately a 30% capital stake; clients collectively hold approximately 70%. Both parties share in profit and loss in proportion to their respective capital contributions.

4.2 Profit Distribution

Profits are distributed at the agreed ratio stated in the pool agreement, proportionate to capital contribution. SGT may also charge a management fee (Ujrah) from its own profit share, as disclosed in the pool terms.

4.3 Loss Rules — Shariah Position

• Client loss share: Proportionate to capital invested (approximately 70% of total pool loss).
• SGT loss share: SGT bears approximately 30% of any loss as a capital participant — SGT cannot disclaim this obligation.
• No guaranteed capital: Capital is not protected. Neither party has a guaranteed return of principal.
• Loss settlement: Losses are deducted from the pool balance before distribution. Net remaining capital is returned to each partner proportionally at settlement.

4.4 Musharakah Summary Table

Scenario	Client (70% stake)	SGT (30% stake)
Profit realised	Receives share per agreed profit ratio	Receives share per agreed profit ratio
Loss realised	Bears ~70% of loss (proportional to capital)	Bears ~30% of loss (proportional to capital)
No profit/no loss	Full capital returned	Full capital returned

4.5 Withdrawal from Musharakah

• Withdrawal terms are specified in the individual pool agreement.
• Early withdrawal may require a notice period and may incur a fee as disclosed in the pool terms.
• Where losses are outstanding at the time of exit, they are deducted from the settlement amount before return of remaining capital.

5. Gold Trading (XAUUSD Spot) — Refund Rules

5.1 Nature of Spot Gold Trades

Gold trading on the SGT platform is executed as spot (hand-to-hand) transactions, fully Shariah-compliant. Each standard lot represents 1 troy ounce of gold at the current spot price with 1:1 leverage (no debt, no margin interest). The client owns actual gold, not a derivative or CFD.

5.2 Completed Trades

Once a spot gold trade is executed, ownership is transferred immediately. Completed trades are not subject to refund because:

• Actual gold ownership has been transferred to the client.
• The market price at execution was the fair spot rate at that moment.
• If you wish to exit the position, you sell the gold at the prevailing spot rate — the profit or loss is yours.

5.3 Trading Losses

Losses from gold price movements are not refundable. Market risk is inherent to trading and accepted by the client at account opening. SGT does not compensate clients for adverse market moves.

5.4 No Swap or Interest Charges

SGT does not charge swap fees, overnight financing fees, or any interest-based charges. As a result, there are no such charges to refund.

5.5 Pending Orders

Pending orders not yet executed can be cancelled at any time without charge. No funds are committed until execution.

6. Copy Trading — Refund Rules

Copy trading allows clients to mirror the positions of a selected lead trader. The following refund rules apply:

• Copy trading losses: Not refundable. The client accepts all risks by choosing to copy a trader.
• Performance fees: Non-refundable once charged on a profitable cycle.
• Service discontinuation: If SGT discontinues a copy trading service before the end of a subscription period, a pro-rated refund of unused subscription fees will be issued.
• Technical failure: If a technical error on SGT's platform causes trades to execute incorrectly (e.g., wrong direction, duplicate execution), SGT will investigate and correct or refund the affected amount.

7. Gold Vault Storage — Refund Rules

• Storage fees are Shariah-compliant Ujrah (service fees) for safekeeping. They are non-refundable for periods already served.
• If storage fees are paid in advance and you close your account or remove all holdings before the prepaid period ends, unused fees will be refunded on a pro-rated basis.
• Gold held in the vault remains your property at all times. Withdrawal of vault gold is processed to your designated account on request.

8. Gold Store & Physical Gold Products

8.1 Return Eligibility

Physical gold products from the SGT Gold Store may be returned under the following conditions:

• Unopened / original packaging: Return within 14 days of delivery.
• Defective or damaged items: Return within 30 days of delivery.
• Wrong item delivered: Full refund or replacement at SGT's cost.
• Opened products: Not eligible for return unless defective.

8.2 Return Conditions

All returns must include:

• Original, undamaged packaging with all seals intact.
• Original invoice or order confirmation number.
• A completed refund request submitted via the Support system.

8.3 Shipping Costs

Return shipping is the client's responsibility unless the return is due to SGT's error (wrong item, defective product), in which case SGT will cover return shipping costs.

8.4 Refund Processing

Refunds for approved physical product returns are processed within 5–10 business days after SGT receives and inspects the returned item. Refund is issued to the original payment method.

9. Deposits & Withdrawals

9.1 Deposits

Deposits are credited to your SGT account and are available for investment or trading. A deposit refund may be processed in the following circumstances:

• Duplicate or double-charged deposit due to a technical error.
• Deposit credited to the wrong account due to platform error.
• Unauthorized deposit arising from compromised account access (subject to investigation).

Deposits that have already been invested or traded are subject to the refund rules of the relevant contract (Mudarabah, Musharakah, Gold Trading, etc.) and cannot be straightforwardly reversed.

9.2 Withdrawals

Clients may request withdrawal of available (uninvested) funds at any time. Withdrawals are processed to the verified payment method on file.

• Funds committed in active investment plans cannot be withdrawn mid-term except as specified in the plan agreement.
• Withdrawal fees, if applicable, are non-refundable once a withdrawal is processed.
• If a withdrawal fails due to incorrect banking details provided by the client, SGT is not responsible for any fees charged by financial institutions.

10. Service Fees & Ujrah

All fees charged by SGT are structured as Ujrah (compensation for services rendered) — not interest-based charges. The following applies:

• Ujrah fees are non-refundable once the service has been provided.
• If a service is not delivered due to SGT's failure, the associated fee will be refunded.
• Management fees deducted from Mudarabah or Musharakah profit shares are not refundable — they reflect SGT's entitlement from the profit portion only.
• Dormant account maintenance fees (charged after 12 consecutive months of inactivity) are non-refundable.

11. Bonus Funds

Bonus funds issued by SGT (Welcome Bonus, Deposit Bonus, Referral Ujrah Bonus) are structured as Hiba (gift) from SGT's marketing and promotional budget. The following rules apply:

• Bonus funds are not refundable as cash and cannot be withdrawn unless specific trading volume conditions (as disclosed at the time of award) have been met.
• SGT reserves the right to cancel bonus funds if the client is found to have violated bonus terms, exploited promotions, or provided false information.
• Bonus funds are forfeited upon account closure.
• No refund claim arises from the cancellation of bonus funds as they are a gift, not a contractual entitlement.

12. Technical Errors & Unauthorized Transactions

12.1 Platform Technical Errors

If a technical malfunction on SGT's platform results in:

• An incorrect trade execution (wrong direction, duplicate order, wrong lot size);
• An erroneous charge or double billing;
• A failed transaction where funds were deducted but no service was rendered;

SGT will investigate within 5 business days and, where the error is confirmed on SGT's part, will correct the transaction or issue a full refund of the erroneously charged amount.

12.2 Unauthorized Account Access

If you believe your account has been compromised and transactions were made without your authorisation, contact SGT immediately at security@smartgoldtrade.com. SGT will:

• Freeze the account pending investigation.
• Review server logs, IP records, and transaction history.
• Issue a refund for verified unauthorized transactions where technically reversible.

Note: Refunds for unauthorized access are subject to the outcome of investigation. Clients must report unauthorized access within 48 hours of discovery. Delayed reporting may affect the outcome.

13. Chargeback Policy

SGT strongly encourages clients to resolve disputes directly through our support system before initiating a chargeback with a payment provider.

• Initiating an unjustified chargeback may result in temporary account suspension pending resolution.
• SGT will provide full transaction evidence to the relevant payment provider or financial institution.
• If a chargeback is found to be invalid, the client may be liable for associated chargeback fees and penalties.
• Repeated or abusive chargeback behaviour may result in permanent account termination.

From an Islamic ethics perspective, filing a fraudulent or bad-faith chargeback against a legitimate transaction constitutes a form of wrongful taking of another's property (ghasb) and is not permissible.

14. Refund Request Process

14.1 How to Submit a Refund Request

1. Log into your SGT account.
2. Navigate to the Support section.
3. Open a new ticket with subject: "Refund Request — [Service Type]".
4. Include the transaction ID, date, amount, service type, and reason for refund.
5. Attach any supporting documentation (screenshots, receipts, correspondence).

14.2 Review Timeline

• Acknowledgement of receipt: within 1 business day.
• Initial review: within 3–5 business days.
• Final decision: within 7 business days (complex cases may require up to 14 days).
• You will be notified of the outcome via email and your account notification centre.

14.3 Appeal

If you disagree with the refund decision, you may escalate by responding to the support ticket and requesting a senior review. If the matter remains unresolved, you may refer to the formal dispute resolution process set out in the General Business Terms.

15. Processing Times & Refund Methods

Approved refunds are returned to the original payment method used for the deposit, unless that method is no longer available. Estimated processing times:

Payment Method	Estimated Processing Time	Notes
Bank Transfer (SWIFT/SEPA)	5–10 business days	Varies by receiving bank
Debit/Credit Card	5–10 business days	Subject to card issuer
Digital Wallets	3–5 business days	Subject to wallet provider
Cryptocurrency	1–3 business days	Subject to blockchain confirmation
UAE / International Transfer	3–7 business days	ENBD, FAB, ADCB, Mashreq, etc.

Currency: Refunds are processed in the original currency of the deposit. Where currency conversion occurred, the refund will reflect the exchange rate at the time of processing, which may differ from the original deposit rate.

If the original payment method is unavailable, SGT will contact you to agree on an alternative within 3 business days.

16. Contact & Disputes