Zutopia's Chargeback Policy explains how disputes raised through a financial institution, rather than through Zutopia directly, are handled on the platform.
Understanding this policy before trading helps you know the correct way to resolve an issue with a transaction.
Purpose
This Chargeback Policy is established to protect the integrity of transactions within the Zutopia platform and to prevent misuse of chargebacks in a decentralised trading ecosystem.
Chargeback Initiation
Chargebacks initiated against Zutopia for transactions involving Zucoins will be declined. This policy serves as evidence of terms agreed upon by members during account registration and transaction processes.
Resolution Process
If a chargeback is processed by a financial institution, members agree to resolve the chargeback directly with Zutopia within five business days, and to reimburse the disputed funds if applicable, including any fees incurred by Zutopia, within five business days.
Resolve the chargeback directly with Zutopia within five business days.
Reimburse the disputed funds, including any fees incurred by Zutopia, within five business days.
Accept liability for an administrative fee of $1,000 AUD, or the actual costs incurred, in the event of legal action.
Account Suspension and Disclosure
Upon chargeback initiation, the member's account will be suspended, preventing further transactions. Zutopia also reserves the right to disclose the member's information publicly on its platform or other media to safeguard against future fraudulent activity.
Fraudulent Activity
Zutopia is not liable for unauthorised transactions, including fraud involving third-party accounts or wallets. Chargeback attempts under such circumstances will be treated as fraudulent and in violation of this policy.
Legal Recourse
Zutopia reserves the right to pursue legal recourse under New South Wales, Australia jurisdiction for unresolved chargebacks.