Policy
Information regarding payments, cancellations, refunds and applicable commercial arrangements.
Refund Policy
This Refund Policy explains the circumstances in which payments made in connection with Patoka Oil Terminal services, arrangements or commercial activities may be cancelled, refunded or otherwise adjusted.
Patoka Oil Terminal primarily operates as an energy infrastructure and terminal services business. The website is principally intended to provide information about our infrastructure, capabilities, locations, services and commercial activities.
Unless expressly stated otherwise in a written agreement, the website does not operate as a consumer e-commerce platform for the purchase of physical products.
Verification
Before a refund can be processed, Patoka Oil Terminal may be required to verify the identity of the receiving party.
This verification is an important part of our financial security and compliance procedures and helps prevent fraud, unauthorized transfers and payments being made to an unrelated third party.
Refunds will generally only be issued to an account or payment destination associated with the buyer's verified legal or corporate identity.
Documentation
To comply with applicable transaction-security and verification requirements, clients may be required to provide appropriate documentation before a refund is released.
Acceptable identification may include a valid government-issued photo identification document such as a passport, driver's licence or national identity card.
The identification document must clearly show the holder's full legal name and photograph and must be valid and sufficiently legible for verification.
Additional corporate or beneficial-ownership documentation may be requested where the transaction is conducted on behalf of a company or other legal entity.
Address Verification
Where required for verification, the client may also be asked to provide proof of address issued within the previous six months.
Acceptable documents may include a utility bill, bank statement, card statement or other appropriate financial or government-issued correspondence.
The document should clearly show the client's full legal name and registered or residential address corresponding with the information associated with the transaction.
Transaction Verification
Where an agreed allocation transaction is subject to a DIP test and the required DIP test is unsuccessful for a qualifying reason, Patoka Oil Terminal will review the transaction and supporting documentation.
Where the refund conditions are satisfied, Patoka Oil Terminal will process a refund of the applicable payment made for the allocation within 24 hours of verification and approval.
Transaction Completion
Where the agreed TSR cannot be completed because of seller unavailability, product delays or other circumstances preventing completion of the transaction, Patoka Oil Terminal will review the circumstances.
Where the transaction qualifies for a refund, the applicable payment made for the TSR will be reimbursed in full within 24 hours of verification and approval.
Seller Performance
Where the end seller fails to perform its obligations and the transaction consequently cannot proceed, Patoka Oil Terminal will review the transaction and supporting documentation.
Where the circumstances meet the applicable refund conditions, the payment associated with the affected transaction documentation or process may be refunded in full.
This may include payments associated with transaction instruments or processes such as TTTIA, TTVIA, IPA, NOR, CI, DTA, ATV, IAL and ATI, where applicable to the underlying transaction.
Approved refunds will be processed within 24 hours of verification.
Transaction Documentation
A TSR issued in connection with an approved transaction will reflect the seller information agreed and verified for that transaction.
Patoka Oil Terminal will not substitute an alternative seller name or issue documentation reflecting a different seller without appropriate authorization, verification and agreement from the relevant parties.
Processing
Refund timelines begin once Patoka Oil Terminal has received the information and documentation reasonably required to verify the transaction and establish that the applicable refund conditions have been satisfied.
Where additional verification is required, the refund process may remain pending until the required information has been received and validated.
The 24-hour processing period refers to Patoka Oil Terminal's processing of an approved refund. The time required for funds to appear in the recipient's account may vary depending on the receiving bank, payment provider, correspondent institution or other financial intermediary.
Transaction Security
Patoka Oil Terminal will not knowingly process a refund to an unrelated third party, unauthorized account or payment destination that cannot be reasonably verified as belonging to the legitimate transaction beneficiary.
Where there is a discrepancy between the original payment details and the requested refund destination, additional verification may be required before funds are released.
Questions
Contact our commercial team with your transaction or agreement reference so that your request can be reviewed promptly.
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