Refund Policy

Effective Date: 28th April 2026  |  Last Updated: 28th April 2026

At Sustainable Finance NG, we finance CNG conversions, CNG vehicles, spare parts, and maintenance services under hire purchase and lease agreements. This Refund Policy explains the circumstances under which refunds may be issued.

1. General Principle – No Refunds on Financed Assets

As a financing company, we facilitate the acquisition of CNG assets rather than selling them directly. Once a hire purchase or lease agreement is signed and funds are disbursed to the vendor or service provider, you generally do not have a right to a refund of installment payments made.

2. Overriding Condition – Subject to Hire Purchase Agreement / Contract for Sale

This Refund Policy is subject to the terms of your hire purchase agreement or contract for sale. In particular:

  • No refund shall be issued where the asset in question has been put to use, damaged, or has depreciated in value, regardless of any other provision in this policy.
  • For the avoidance of doubt, once you take delivery and begin using a CNG vehicle, conversion kit, spare parts, or any financed asset, the right to a refund (if any existed) is extinguished.
  • Damage includes ordinary wear and tear beyond accepted limits, accidental damage, or any reduction in the asset's value caused by the offtaker.

3. Refund Before Disbursement

If you cancel your financing application before funds have been disbursed to the CNG vendor or service provider:

  • Any non-refundable processing or commitment fee (as stated in your offer letter) will be retained.
  • Any other fees paid toward the financing (e.g., legal, inspection fees) are non-refundable once the work has commenced.

4. Refund for Overpayment or Billing Error

If you overpay an installment or there is a proven billing error on our part:

  • We will refund the excess amount within 10 business days of verification.
  • Refunds will be made via the same payment method used, or bank transfer to your registered account.

5. Refund for Hire Purchase Early Termination

If you terminate a hire purchase agreement early (where ownership has not yet passed to you):

  • You have no right to a refund of past installments.
  • Any equity or excess realized after the asset is repossessed and sold (minus repossession costs, penalties, and outstanding balance) may be refunded. This is determined on a case-by-case basis and only if the asset has not been materially used, damaged, or depreciated beyond normal recovery value.

6. Refund for Operating Lease

Under a CNG asset lease:

  • Lease payments are non-refundable.
  • The security deposit (if any) may be refunded at the end of the lease term after deducting any outstanding fees, damages (beyond normal wear and tear), or late payment penalties.

7. Refund for Spare Parts & Maintenance Financing

If you finance spare parts or maintenance through us, and the service provider fails to deliver the service or part:

  • We will not issue a refund directly. Instead, we will investigate and, if found valid, credit the amount toward your outstanding balance or arrange a vendor-initiated refund. Refunds are subject to the service provider's own return policy.
  • No refund will be given for spare parts or maintenance work that have already been used or consumed (e.g., installed parts, used lubricants, or completed labour).

8. Cancellation of CNG Conversion Financing

If you cancel a CNG conversion project after financing has been approved and disbursed to the conversion center:

  • No refund of disbursed funds.
  • However, you remain liable for the full financing amount under your agreement.
  • Once the conversion kit has been installed or the vehicle has been used post-conversion, no refund applies.

9. How to Request a Refund (where applicable)

For refunds related to overpayments, billing errors, or approved cancellations before disbursement:

Include in your request:

  • Full name and agreement reference number
  • Date of transaction
  • Amount and reason for refund
  • Supporting documents (payment receipts, bank statements, etc.)

10. Processing Time

Approved refunds will be processed within 10–15 business days after confirmation. You will receive a confirmation email once processed.

11. Disputes

If you believe a refund is due under exceptional circumstances not covered here (e.g., fraud, asset not delivered by vendor), please follow our formal complaints process outlined in your financing agreement. All disputes are governed by the laws of the Federal Republic of Nigeria.

12. Amendments

We may update this Refund Policy from time to time. The latest version will always be published on this page.

Contact Us

Sustainable Finance NG
Email: info@sustainablefinance.ng
Phone: 09072094868
17 Thaba Tseka Street, Wuse 2, Abuja, Nigeria

This policy does not override any express terms in your signed hire purchase, lease, or sale agreement. In case of conflict, your signed agreement prevails.