I've changed my mind - can I get a refund?

When you make a purchase via the app, you are buying a long-term asset that you are more likely to benefit from the longer you remain invested. If you have made an error when purchasing, please contact us immediately so we can try to help.

In line with the cooling-off period contained in the Consumer Protection Act, you have five working days from the date the assets were transferred into your name to change your mind and sell them back to us. If you do decide to sell these assets during this time, the full purchase mind will be refunded to you, minus any income that may have been paid out to you during this time.
If the cooling-off period has expired, it may well be to your benefit to remain invested for the full term. This is particularly important when you consider that both hives and blueberry bushes produce more the longer you have them. Solar power will become increasingly in demand as the cost of electricity from the grid rises. Therefore, your income ramps up over time. The longer you keep your asset, the better your returns will become.

Please also keep in mind that once you purchase your assets, we incur substantial costs in installing and maintaining your assets. For solar panels, there is installation, optimisation, insurance and maintenance. For beehives, there is construction, swarming, harvesting and transport. For blueberries, there is the planting, harvesting and watering. In addition, the longer you have owned the asset the less it is worth, because it has already generated an income, and the time that is left to generate an income decreases. There is also wear and tear on solar panels and beehives. All these factors combine to decrease your sales price.

Because these are physical assets that are installed at a particular site, and not fixed investments or stock market investments, we cannot simply pay you a market related price when you wish to sell them. A buyer needs to be in place and the assets need to be transferred for an asset sale to be finalised.

Please also note that a transfer fee may be charged at our discretion, dependant on factors such as the size of the transfer and whether you have sold assets in the past. This rate will be communicated to you and if you accept it, we can proceed with the transfer process.

If, after careful consideration, you still decide to sell your asset. You must find a willing buyer who is willing to purchase your asset at a price that you negotiate between yourselves. To effect the transfer, the relevant documentation will be sent to you for completion. If a transfer fee is applicable, Fedgroup would first have to receive these fees before the transfer can be finalised. Fedgroup may subtract the transfer fees, if applicable, and pay the balance over to you.

In the rare event of financial distress by the investor, Fedgroup will purchase the asset/s at a discounted valuation at Fedgroup’s discretion on a case by case basis.

Please email us at IFcontact@fedgroup.co.za.

Was this article helpful?
20 out of 20 found this helpful

Comments

0 comments

Please sign in to leave a comment.