Last updated 28 February 2026
Last updated 06 April 2026
This Refund & Reversal Policy (the “Policy”) forms an integral part of the Terms of Use governing the Bitsbazar platform. By accessing or using the Services, you agree to be bound by the terms of this Policy. If you do not accept these terms, you must cease using the Services immediately. Your continued use of the Services following any update to this Policy will constitute your acceptance of the revised terms.
1.1. All cryptocurrency exchange operations carried out through Bitsbazar are final, subject only to the limited reversal scenarios expressly described in this Policy.
1.2. As a non-custodial Money Services Business registered with FINTRAC, Bitsbazar does not hold client funds or cryptocurrency at any point in time. Accordingly, reversals are only possible prior to the execution of an order.
1.3. Bitsbazar does not offer investment advice, portfolio management, order execution on behalf of clients, or any form of custodial wallet service.
2. Finality of Completed Transactions
2.1. Once Bitsbazar has executed a client order and the relevant cryptocurrency has been dispatched to the self-hosted wallet designated by the client, the transaction is irreversible. This is consistent with the underlying blockchain protocol and with the Terms of Use. Bitsbazar has no ability to retrieve or reverse blockchain transfers following execution, and is not in a position to compensate clients for market movements or price fluctuations.
A reversal may only be initiated where an order cannot be completed for one of the following reasons:
3.1. KYC/AML Non-Completion. Successful completion of KYC verification is a prerequisite to settlement. Where a client refuses or fails to complete the required KYC process, Bitsbazar will initiate a reversal of any funds received.
3.2. AML/CTF Compliance Restrictions. Where Bitsbazar determines, on the basis of a risk assessment or applicable regulatory obligations, that it is unable to proceed with an exchange — including in circumstances involving suspected suspicious activity, sanctions concerns, or a prohibited jurisdiction — Bitsbazar will initiate a reversal. This is consistent with the Terms of Use.
3.3. Invalid or Third-Party Payment Sources. Fiat payments must originate from an external account registered in the client’s own name, and cryptocurrency must be sent from a self-hosted wallet owned by the client. Where a name mismatch is identified or ownership cannot be confirmed, Bitsbazar may decline the order and initiate a reversal.
3.4. Technical or Pricing Errors. In exceptional circumstances where an operational or pricing error renders an order incapable of completion on the terms presented, Bitsbazar may cancel the order and reverse the associated payment.
4.1. Where a reversal is initiated under this Policy, funds will be returned exclusively to the original source account or wallet from which they were received, unless an alternative destination is permitted under Canadian AML requirements and ownership of that destination has been independently verified.
4.2. Reversals will be processed within five (5) business days, subject to the following conditions being satisfied: all required documentation has been provided by the client; applicable compliance checks have been completed; and the transaction has not yet been executed on-chain. This is consistent with Terms of Use.
4.3. Any network fees, card processor fees, foreign exchange fees, or banking charges already incurred at the time of reversal are non-refundable and may be deducted from the amount returned to the client.
5.1. Cryptocurrency Valuation. As Bitsbazar does not hold cryptocurrency on behalf of clients, any crypto returned in connection with a reversal will be calculated based on the CAD value at the time Bitsbazar received the client’s transfer — not at the time the reversal is processed.
5.2. Supporting Documentation. In connection with a reversal request or compliance review, Bitsbazar may require the client to provide one or more of the following: identity documents; source-of-funds or source-of-crypto evidence; payment confirmation; or wallet ownership proof. Failure to supply the requested documentation within fifteen (15) business days may result in the reversal request being declined.
5.3. Fraud or Prohibited Activity. Bitsbazar reserves the right to decline a reversal or refund where it has reasonable grounds to suspect that the client has engaged in fraud, initiated chargebacks, used stolen payment instruments, or participated in money laundering or other prohibited conduct.
Where Bitsbazar is unable to return funds due to insufficient information or prolonged client inactivity, Bitsbazar may be obligated to remit such funds in accordance with applicable Canadian unclaimed property legislation, as further described in Section 8.15 of the Terms of Use.
Reversal and refund requests must be submitted to:
[email protected] Subject line: “Refund/Reversal Request”
Your request should include your full name, your order ID, a clear explanation of the issue, and any supporting documents requested by Bitsbazar during the review process. Upon receipt, Bitsbazar will confirm acknowledgement of your request and provide guidance on next steps.
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