Cancellation & Refund Policy

Effective date: 05 June 2026

1. Our role

axiTrust Private Limited ("axiTrust", “We”) operates the platform at app.axitrust.com, through which you have submitted your information in order to connect with insurance companies to procure EMD (bid security) for your bids. axiTrust is a Technology Service Provider. We are not an insurance company and not an insurance intermediary. We do not underwrite risk, price premium, accept or decline proposals, or issue any instrument. axiTrust has in no manner solicited, advised, convinced or educated you in relation to availing EMD or bid security from insurance companies. Your decision to approach an insurance company through our platform is your own, taken at your own initiative and on your own assessment of your requirements. All instruments are issued solely by IRDAI-registered general insurance companies ("the Insurer"). All decisions on underwriting, issuance, cancellation and refund of premium are made by the Insurer, in accordance with its own terms and applicable IRDAI norms.

2. What your payment consists of

You make a single payment, which is split at settlement between two recipients:

Insurance Premium (+ GST)
- Paid to: The Insurer
- Nature: Consideration for the Surety Bond
Stamp Duty
- Paid to: State exchequer, procured by axiTrust on your behalf as pure agent
- Nature: Statutory duty on the bond instrument, recovered at actuals
Processing Fee (+ GST)
- Paid to: axiTrust
- Nature: Technology and payment facilitation charges

The breakdown of these three components is displayed to you on the payment screen before you pay.

3. Cancellation of an application

You may request cancellation of an application by writing to gem.support@axitrust.com, with your Application ID. Refunds on cancellation are governed by Sections 4 and 5 of this Policy.

4. Refund of Insurance Premium

Refund of premium, if any, is governed entirely by the refund guidelines of the Insurer that issued or was to issue the instrument. axiTrust does not decide, guarantee or control premium refunds.
The amount, eligibility and timeline are determined by the Insurer, and the refund is processed by the Insurer or through the payment aggregator to your original payment instrument.

5. Stamp Duty and Processing Fee — non-refundable

Stamp Duty and Processing Fee, once paid, are non-refundable. This applies irrespective of whether the bond is subsequently issued, whether you are awarded the bid, whether you later find that bid security was not required, or whether you choose to furnish security in another form.
Stamp Duty is a statutory levy. Once the stamp instrument is procured, the amount stands paid into the State exchequer and is not within axiTrust’s control. Any recovery would require a separate application to the competent revenue authority under the applicable stamp legislation, is subject to a statutory deduction, is time-barred after the period prescribed by that legislation, and is not guaranteed.
Processing Fee is consideration for technology and payment facilitation services that are performed when your application is taken up. It is earned on processing, not on the outcome of underwriting.

Sole exception:

Where your application is not processed on account of a technical failure of the axiTrust platform or the systems of our service providers, and no instrument has been issued, the Stamp Duty and Processing Fee are refunded to you in full, with no deduction.

6. Failed, duplicate and excess payments

Failed transactions, where an amount is debited but no application is created, are reversed by the payment aggregator, ordinarily within 5 – 7 working days.
Duplicate payments for the same Application ID and amounts collected in excess of the correct total due to an error are refunded in full, without deduction, ordinarily within 7 working days of identification or of your reporting it.

7. How refunds are made

Refunds are made only to the original payment instrument. No refunds will be made in cash, or to third-party accounts, or as credits or vouchers.
axiTrust-side refunds are initiated within 7 working days of approval. Credit to your account thereafter depends on your bank, card issuer or payment aggregator, and typically takes a further 5 –10 working days.
No interest is payable on any refund.

8. Grievance redressal

axiTrust Support — gem.support@axitrust.com | +91-9217334483 | Mon–Fri, 10:00–19:00 IST (excluding public holidays)

Grievance Officer — Adesh Singh | compliance@axitrust.com | +91-9220506149 | AltF, 4th Floor, DLF Millenium Towers, Gurugram - 122002

Complaints are acknowledged within 48 hours and redressed within one (1) month, in accordance with the Consumer Protection (E-Commerce) Rules, 2020.
Grievances relating to the EMD availed must be taken up with the Insurer, as axiTrust has no authority to decide such matters.
Grievances relating to bid terms, bid security requirements or exemptions should be raised through the GeM portal.

9. General

axiTrust’s aggregate liability in respect of any application shall not exceed the Processing Fee received for that application. We are not liable for indirect or consequential loss, including loss of a bid, contract or profit, except in cases of fraud, gross negligence or wilful misconduct by axiTrust.

axiTrust is not liable for delay or failure caused by events beyond its reasonable control, including downtime of GeM Portal, the Insurer’s systems, e-stamping systems or banking and payment infrastructure.
We may amend this Policy at any time. The version in force on the date of your payment governs your application. This Policy is governed by the laws of India, and the courts at Gurugram shall have exclusive jurisdiction, subject to your statutory rights under the Consumer Protection Act, 2019.
Where anything in this Policy is inconsistent with the Insurer’s terms, GeM’s bid conditions or applicable law, those shall prevail.

Published by axiTrust Private Limited in its capacity as a Technology Service Provider. Nothing here constitutes an offer or solicitation of insurance.