Vestra is committed to providing a transparent and fair refund policy for its fractional real estate investment transactions. This policy outlines the conditions under which refunds may be issued, taking into account the unique nature of real estate investments, including deposits, immature investment cancellations, withdrawals to incorrect account details, underpayments, and payments processed via partner companies.

Real estate investments, particularly fractional ownership, involve illiquid assets and long-term commitments. Unlike typical retail purchases, these investments are tied to specific properties and market conditions, which can fluctuate. Therefore, our refund policy is designed to reflect these realities while maintaining fairness to our investors. We encourage all clients to thoroughly review investment details and seek independent financial advice before committing funds.

The concept of "elite formation" in relation to "money power" within a city like London highlights how significant concentrations of wealth can influence urban political life, municipal resources, and social equity. This often leads to city success being aligned with the interests of wealthy elites, potentially at the expense of broader citizen access to essential resources. This dynamic underscores the importance of clear and robust policies in financial transactions, especially those involving significant capital, to ensure equitable treatment and mitigate potential abuses of power or influence.

General Refund Principles

All refund requests will be reviewed on a case-by-case basis. Vestra reserves the right to approve or deny refund requests based on the terms outlined in this policy and the specific circumstances of each investment. Our goal is to process legitimate refunds promptly and efficiently.

Specific Refund Scenarios and Examples

Deposits

Deposits made to reserve a fractional interest in a property are generally non-refundable once the investment opportunity has been secured and due diligence processes have commenced. This is because deposits often cover initial administrative costs, legal fees, and the opportunity cost of holding the property off the market for the reserving client.

Scenario 1: Non-refundable Deposit

• Example: A client, Mr. Smith, places a $5,000 deposit to reserve a fractional share in a luxury villa in Dubai. Vestra then begins the legal process of securing the share and conducting property-specific due diligence and Mr. Smith acquires a share. After getting a share, Mr. Smith decides to withdraw his interest.
• Outcome: The $5,000 deposit is non-refundable as Vestra has already incurred costs and held the share off the market based on Mr. Smith's commitment.

Scenario 2: Refundable Deposit

• Example: Ms. Chen places a $2,000 deposit for a fractional interest in a commercial property in London. Before Vestra can finalize the allocation or begin significant due diligence, Ms. Chen cancels the investment within the allocated cancellation window timer, making the investment impossible.
• Outcome: The $2,000 deposit is fully refundable to Ms. Chen because Vestra was unable to secure the advertised interest.

Immature Investment Cancellations

An "immature investment" refers to a fractional real estate investment that is canceled by the client before the full funding of the property or before the agreed-upon holding period has elapsed, as defined in the investment agreement.

Cancellation Before Full Funding

If a client cancels their investment before the property reaches its full funding target and the investment is officially closed, a refund of the invested capital may be possible, subject to an administrative fee. This fee will cover costs incurred by Vestra in processing the investment and the subsequent cancellation, which may include legal, marketing, and operational expenses. The exact fee will be stipulated in the investment agreement.

Scenario 3: Cancellation Before Full Funding

• Example: Mr. Johnson invests $25,000 in a fractional ownership project for a residential complex. The project requires $1,000,000 in total funding from multiple investors. Before the $1,000,000 target is met, Mr. Johnson experiences an unexpected financial hardship and requests to cancel his investment.
• Outcome: Mr. Johnson's $25,000 investment may be refunded, but an administrative fee (e.g., 5% of the invested amount, as per the investment agreement) will be deducted to cover Vestra's processing costs. So, Mr. Johnson would receive $23,750.

Cancellation After Full Funding (Early Withdrawal)

Once a property has been fully funded and the investment officially closed, fractional real estate investments are considered long-term and illiquid. Early withdrawal or cancellation of an investment after full funding is generally not permitted as it can disrupt the financial structure and ownership model for other investors in the property.

In exceptional circumstances, and at Vestra's sole discretion, an early withdrawal may be considered. This would typically involve:

• The client finding a suitable replacement investor who meets Vestra's eligibility criteria.
• The client incurring all associated transfer fees, legal costs, and any market-based penalties or discounts required to facilitate the sale of their fractional interest.
• A potential waiting period for the sale to be executed, as market liquidity for fractional interests can vary.

Any refund amount would be based on the actual sale price of the fractional interest, less all applicable fees and costs. There is no guarantee that the original investment amount will be recovered.

Scenario 4: Early Withdrawal (Exceptional Circumstance)

• Example: Ms. Lee has invested $100,000 in a fully funded fractional property. Six months later, she needs to liquidate her investment due to a family emergency. The investment agreement states that early withdrawals are generally not allowed but may be considered if a replacement investor is found. Ms. Lee finds a qualified buyer, Mr. Kim, who agrees to purchase her fractional share.
• Outcome: Vestra facilitates the transfer. Ms. Lee's original $100,000 investment is subject to a transfer fee (e.g., 2% of the share value) and legal costs (e.g., $1,000). If Mr. Kim pays $100,000 for the share, Ms. Lee would receive $97,000 ($100,000 - $2,000 transfer fee - $1,000 legal costs). If market conditions led Mr. Kim to only offer $98,000, Ms. Lee would receive $95,000 ($98,000 - $2,000 transfer fee - $1,000 legal costs).

Withdrawals to Incorrect Account Details

It is the client's sole responsibility to provide accurate and verified wallet, or bank account details for all withdrawals and refunds. Vestra will process withdrawals strictly according to the information provided by the client.

Client Error

If a refund or withdrawal is processed to an incorrect account due to erroneous information provided by the client, Vestra will not be held liable for the loss of funds. We will, however, assist the client in attempting to recover the funds from the unintended recipient, but cannot guarantee success. Any costs incurred in such recovery efforts will be borne by the client.

Scenario 5: Incorrect Account Details (Client Error)

• Example: Mr. Davies requests a withdrawal of his investment returns and mistakenly provides an incorrect bank account number (e.g., one digit off). The funds are successfully transferred to this incorrect account.
• Outcome: Vestra is not liable for the lost funds. Vestra will provide Mr. Davies with transaction details and assist him in contacting the receiving bank to attempt recovery. Any fees charged by the banks for this recovery attempt will be paid by Mr. Davies. The refund is not guaranteed.

Vestra Error

If a refund or withdrawal is processed to an incorrect account due to an error on Vestra's part, we will take full responsibility for recovering the funds and ensuring the correct amount is remitted to the client without undue delay or additional cost to the client.

Scenario 6: Incorrect Account Details (Vestra Error)

• Example: Ms. Garcia provides correct bank details for a refund. However, a Vestra employee makes a data entry error, and the funds are sent to a different, incorrect account.
• Outcome: Vestra will immediately initiate a recall of the funds and ensure the correct amount is transferred to Ms. Garcia's designated account. All associated costs for the recall and re-transfer will be borne by Vestra. Ms. Garcia will receive the full refund amount.

Underpayments

If a client makes an underpayment for an investment, the following will apply:

• Notification: Vestra will notify the client of the underpayment and provide a reasonable timeframe to remit the outstanding balance.
• Completion of Investment: The investment will only be considered active and complete once the full payment has been received.
• Refund of Underpayment: If the client chooses not to complete the payment, or fails to do so within the specified timeframe, the underpaid amount may be refunded, subject to an administrative fee to cover processing costs.

Scenario 7: Underpayment

• Example: Mr. White intends to invest $10,000 but accidentally transfers only $9,500. Vestra notifies him of the $500 underpayment.
• Outcome A (Client completes payment): Mr. White transfers the remaining $500 within the stipulated time. His investment is then fully activated.
• Outcome B (Client does not complete payment): Mr. White decides not to proceed with the full investment. The $9,500 he paid may be refunded, minus an administrative fee (e.g., $50) for processing the initial payment and subsequent refund. Mr. White would receive $9,450.

Payments Processed via a Partner Company on Behalf of a Client

When payments are processed through a third-party partner company (e.g., payment processors, escrow services, or co-investment platforms) on behalf of a Vestra client, the refund process will be subject to the policies of both Vestra and the partner company.

• Partner Company Policies: The client acknowledges that the partner company's terms and conditions, including their refund and dispute resolution policies, will apply to the initial payment transaction.
• Coordination: Vestra will coordinate with the partner company to facilitate any eligible refunds. However, the timing and method of the refund may be dictated by the partner company's operational procedures.
• Fees: Any fees charged by the partner company for processing refunds will be deducted from the refundable amount, unless otherwise agreed upon.

Scenario 8: Payment via Partner Company

• Example: Ms. Taylor invests $50,000 in a Vestra property using an international payment processor, "GlobalPay," which charges a 1% transaction fee. Due to unforeseen circumstances, her investment is eligible for a full refund as per Vestra's policy.
• Outcome: Vestra initiates the refund through GlobalPay. GlobalPay's policy states that their transaction fee is non-refundable. Therefore, Ms. Taylor would receive $49,500 ($50,000 - 1% GlobalPay fee).

Other Areas Where Refunds Can Be Applied

Failure to Meet Investment Threshold

If a fractional investment project fails to meet its minimum funding threshold by a specified deadline, all investor funds will be refunded.

Scenario 9: Project Fails to Fund

• Example: Vestra launches a new fractional investment opportunity requiring a minimum of $2,000,000 in total investment. After the designated funding period, only $1,500,000 has been committed.
• Outcome: The project is canceled. All investors who committed funds will receive a full refund of their invested capital, with no administrative fees deducted.

Material Misrepresentation by Vestra

If it is determined that Vestra made a material misrepresentation regarding a property or investment opportunity that significantly impacted the client's decision to invest, and this misrepresentation is proven, a refund may be considered.

Scenario 10: Material Misrepresentation

• Example: Mr. Green invests in a property based on Vestra's marketing materials stating it has a specific zoning classification that allows for commercial use. After investing, Mr. Green discovers the property is zoned purely residential, making his intended commercial venture impossible. He provides evidence of the misrepresentation.
• Outcome: If Vestra's misrepresentation is confirmed, Mr. Green may be eligible for a full refund of his investment, potentially including any associated legal costs he incurred in verifying the zoning.

Regulatory Non-Compliance

In the rare event that an investment is found to be non-compliant with relevant real estate or financial regulations, and this non-compliance necessitates the unwinding of the investment, refunds will be processed according to legal mandates.

Scenario 11: Regulatory Non-Compliance

• Example: A fractional ownership structure for a property is later deemed by a regulatory body to be non-compliant with local real estate laws, requiring the investment to be dissolved.
• Outcome: Vestra will work with legal counsel and regulatory bodies to ensure all investors receive a refund of their capital, subject to any legally mandated deductions or processes.

Refund Processing

• Request Submission: All refund requests must be submitted in writing to support@vestra.club, clearly stating the reason for the refund and providing all relevant investment details.
• Verification: Vestra will verify the eligibility of the refund request against this policy and the specific investment agreement.
• Timeline: Approved refunds will typically be processed within 30 business days from the date of approval. The actual time for funds to appear in the client's account may vary depending on banking institutions and payment methods.
• Method of Refund: Refunds will generally be issued via the same payment method used for the original investment, or via bank transfer to a verified account in the client's name.
• Currency: Refunds will be processed in the currency in which the original investment was made. Vestra is not responsible for any fluctuations in exchange rates or associated bank charges.

Contact Information

For any questions or to initiate a refund request, please contact us:

• Email: support@vestra.club
• Phone: +1(720) 580-1051
• WhatsApp: +63 946 449 8012

Vestra reserves the right to amend this Refunds Policy at any time. Any changes will be posted on our official website and will be effective immediately upon posting. Clients are encouraged to review this policy periodically.