Plain English Summary: When you start a SIP, your funds are split into an Advisory Retainer (which pays for immediate EdTech access and onboarding) and a Travel Reserve (held in escrow for future flights and hotels). You can cancel within the first 15 days for a 100% refund of everything. If you cancel later, the Advisory Retainer is non-refundable, but we will refund 100% of your unspent Travel Reserve.
1. Understanding Your SIP Structure
To ensure transparency, Vula Capital divides your monthly Systematic Investment Plan (SIP) contributions into two distinct ledgers within your nodal escrow account:
- The Advisory Retainer: Typically comprising the funds from your early milestones, this covers the immediate deployment of the Kinetix AI SaaS platform, administrative onboarding, and upfront partner advisory commissions. Once the cooling-off period ends, this portion is non-refundable.
- The Travel Reserve: This comprises the bulk of your accumulated funds. It is held securely in the RBI/SEBI-regulated escrow and is strictly used to pay for airlines, hotels, and visas closer to the departure date. Unspent portions of this reserve are highly refundable.
2. The 15-Day Cooling-Off Period
We want you to feel completely secure in your decision. From the exact date your first monthly eNACH mandate is successfully deducted (Milestone 1), you enter a 15-day Cooling-Off Period.
If you choose to terminate your contract within this 15-day window for any reason, you will receive a 100% full refund of all funds deducted, including the Advisory Retainer. Upon cancellation, your child's access to the Kinetix AI EdTech platform will be immediately revoked.
3. Standard Cancellation Matrix
If you choose to cancel your EduTour Escrow contract voluntarily after the 15-day cooling-off period has expired, refunds are calculated based on how close the cancellation is to the departure date.
| Time of Cancellation | Refund Status |
|---|---|
| After 15 Days, but prior to Flight Ticketing (Usually 120+ days before departure) |
100% of accumulated Travel Reserve is refunded. The Advisory Retainer is non-refundable. EdTech access remains active for the student. |
| After Flight Ticketing & Hotel Block (Usually 45 to 119 days before departure) |
Partial Refund. Standard airline and hotel cancellation penalties are deducted from your Travel Reserve. The remaining balance is refunded. |
| Within 30 Days of Departure | No Refund. At this stage, all group logistics are finalized and fully paid to international vendors. No refunds can be issued. |
4. Visa Rejections
Vula Capital and our logistics partners provide comprehensive visa filing assistance, but the final decision rests solely with the sovereign embassy. If a student's visa is rejected despite submitting timely and authentic documentation:
- You will receive a refund of your unspent Travel Reserve, minus the actual visa processing fee already paid to the embassy/VFS.
- The Advisory Retainer remains non-refundable.
- Alternatively, at no extra cost, you may choose to roll your escrow funds over to a future cohort traveling to a different destination (e.g., switching from UK to Dubai).
Note: If a visa is rejected due to fraudulent documents provided by the parent, or failure to attend the mandatory VFS biometric appointment, standard cancellation penalties (Section 3) will apply.
5. Medical Emergencies & Force Majeure
Medical Cancellations: If a student suffers a severe medical emergency prior to departure making them unfit to fly, the cancellation falls under the purview of the mandatory overseas travel insurance policy. We will assist you in filing the claim with the insurance provider to recover non-refundable flight and hotel costs.
Force Majeure: If Vula Capital must cancel or postpone a tour due to events beyond our control (e.g., global pandemics, destination country civil unrest, natural disasters), parents will be offered the choice of a full rollover to a rescheduled date or a refund of the unspent Travel Reserve.
6. Disciplinary Repatriation (Zero Refund)
Student safety is our highest priority. If a student severely breaches the code of conduct while abroad (e.g., possession of illegal substances, sneaking out of the hotel post-curfew, severe bullying), the Lead Chaperone will invoke the Repatriation Clause.
The student will be isolated and immediately flown back to India at the parent's full out-of-pocket expense. Absolutely no refunds will be provided for the interrupted tour.
7. Refund Processing Guidelines
To comply with strict Anti-Money Laundering (AML) regulations enforced by the RBI and SEBI, please note the following refund processing rules:
- Refunds can only be processed back to the original source bank account that funded the eNACH mandate. We cannot, under any circumstances, transfer refunds to a different bank account, a relative's account, or provide cash refunds.
- Once a cancellation is initiated via the Parent Portal, the automated escrow API will calculate the refund based on the matrix above.
- Approved funds will reflect in your source bank account within 7 to 10 working days.