Refund & Settlement Policy
Effective Date: January 1, 2026 • Craftory Hardware Engineering Solutions
Craftory manufactures high-precision IoT development kits and custom engineering hardware projects. Due to the custom component assembly and microcontroller programming involved, specific refund rules apply to different product categories.
1. IoT Kits & Standard Hardware Store Items
Upfront Payment: All IoT Kits purchased on `/store` require 100% upfront payment.
50% Cancellation Refund: Customers who cancel an eligible IoT kit order prior to dispatch will receive a 50% refund of the total amount paid. The remaining 50% is non-refundable to cover component allocation, testing, and handling costs.
No Returns / No Exchanges: Once an IoT kit has been shipped or delivered, no returns or exchanges are permitted unless a component is verified defective upon arrival.
2. Custom Engineering & Academic Projects
60% Non-Refundable Advance Deposit: Custom project solutions require an initial 60% advance payment to initiate hardware procurement and firmware programming. This 60% advance deposit is 100% non-refundable once assembly work has commenced.
40% Final Milestone Payment: The remaining 40% final payment is payable upon completion and live video demonstration before physical dispatch.
3. Refund Processing & Method
Approved refunds are credited back directly to the original payment source (UPI, Card, Netbanking) via Razorpay within 5–7 business days.