HBC Credits Terms
1. What HBC Credits are
1.1HBC Credits are a credit note issued by HBC, denominated in Nepalese rupees, recorded on your account. A credit note arises from a transaction with HBC; it cannot be bought.
1.2HBC Credits are not money, a deposit, a wallet, stored value or an account balance. They earn no interest. They are a trade credit arising from a sale of goods, redeemable against HBC products.
2. How Credits arise
Credits are created only when:
(a) you sell a product to HBC and take Credits instead of a cheque (with the published credit incentive); a sale from the app of a product in custody is always paid in Credits; (b) a plan adjustment or early settlement leaves a surplus of prepaid making charges.
HBC does not accept cash, bank transfer or any other payment to create Credits. Top-ups are not available. Refunds of money HBC owes you for any other reason are paid to your paying account under the Cancellations, Refunds and Remedies Policy, not as Credits.
3. Using Credits
3.1Credits may be spent on any HBC product or charge, in the app or in store, in whole or in part with another payment method.
3.2Credits are personal to you. They cannot be transferred, gifted, assigned or used by anyone else.
3.3Credits do not expire.
4. Cashing out Credits
4.1You may at any time ask HBC to refund unused Credits. HBC refunds the amount less any credit incentive you received when the Credits were issued, by cheque in your name or by bank transfer to the account you pay HBC from, within five working days. There is no other charge. Where Credits arose from a buy-back, the refund therefore equals what HBC would have paid you by cheque on the day of the buy-back.
4.2A refund of Credits is the reversal of a credit note, not a withdrawal from an account. Identity is confirmed before any refund.
4.3HBC does not pay cash.
5. Adjustment and removal
5.1HBC may adjust Credits to correct an error in their creation. HBC gives you written notice stating the reason, and a second authorised staff member approves the adjustment. Credits are never removed as a penalty.
6. Records
6.1Every creation, use, refund and adjustment of Credits is recorded with its source transaction and shown in your account. HBC issues a receipt for each.