The funds collected towards each event shall be transferred to you, the Event Creator as per the details provided to you at the end of the event and net of the ChipNGift's platform facility fees. If in a case of event cancellation at any time ChipNGift shall return the money to the Contributors after taking the processing fee within 7 days of the event cancellation.
ChipNGift shall make payments, net of its costs, charges and fees into the bank account provided by the Contributor during event Registration process. Once ChipNGift has made payments into such bank account number ChipNGift shall be discharged of any/all liability towards the Event Creator and Contributors and the Event Creator and Contributors shall not be eligible for any claims and/or refunds thereof.
The User understands and agrees that the funds held by ChipNGift or contributions received would not gain any interest. The period during which the funds are collected and finally reach the Event Creator or the contributor, would not be construed as delay on the part of ChipnGift and would not give rise to any interest liability.