Refund Policy

Effective date: 2026-07-16 Version: v1

This Refund Policy applies to paid Offers on the kestrel.markets Platform, operated by Longtail Studios, LLC. It is part of, and incorporated into, the Terms of Service.

This Policy is mechanical: eligibility follows from what the Platform did or failed to do, not from a discretionary judgment about your satisfaction.

1. What you are buying

Each paid Offer purchases a specific, bounded unit of already-defined digital work (for example: a deterministic simulation session over a paid dataset, or a certified grade receipt). The Offer states the exact scope, price, and worst-case ceiling before you pay, and every charge is bounded by that ceiling — you are never charged more than the ceiling shown.

2. Delivered certified work is final

Because the work is digital, certified, and delivered immediately (a signed proof or result you can verify and keep), a delivered certified artifact that recomputes and verifies is final and non-refundable. By claiming and funding an Offer you acknowledge that delivery begins immediately.

3. When we DO refund

These grounds are mechanical: they do not depend on a discretionary judgment about your satisfaction. Where a ground below applies, we will refund the affected charge in full on request (except "Duplicate or erroneous charge," which is refunded to the extent of the overcharge):

• Failed or undelivered Operation: payment succeeded but the Operation failed, or no

work product or proof was ever produced. Refunded in full.

• Failed recomputation: a certified result that fails recomputation or

re-verification through no fault of yours. A certified artifact that cannot be reproduced is not a delivered artifact. Refunded in full.

• Platform error: the Platform delivered work that does not match the paid Offer's

scope, or produced a proof that fails verification through no fault of yours. Refunded in full.

• Duplicate or erroneous charge: you were charged more than once for the same Offer,

or charged for an Offer you did not accept. Refunded to the extent of the duplicate or erroneous amount.

• Unused prepaid balance: prepaid credits do not expire, and any **unused prepaid

balance is refundable to you on request**.

To request a refund on any ground above, contact legal@kestrel.markets with the Offer id, the Operation id (if any), and your payment reference. We aim to review refund requests promptly and, in any event, within any period required by the consumer-protection law applicable to you.

4. What is NOT a basis for refund

• The simulated or certified result was **unfavorable, unprofitable, or not what you

hoped** — results are hypothetical and outcome-independent (see the Disclaimer). An unfavourable result that recomputes correctly is delivered work.

• You changed your mind after the work was delivered.
• Losses from any live or paper trading you conducted using Platform outputs.

5. How refunds are issued

Approved refunds are returned to the original payment method through our payment processor (currently Stripe). The time to appear depends on our payment processor and your bank.

6. Statutory rights

Nothing in this Policy limits any non-waivable refund or cancellation right you may have under the consumer-protection laws applicable to you — including, where applicable, the laws of your U.S. state (such as California's CCPA/CPRA and CLRA) and, for residents of the EEA or the UK, applicable consumer and data-protection law (see the Privacy Policy §6). Where such rights apply, they control to the extent of any conflict.

7. Contact

Refund requests and questions: legal@kestrel.markets, Longtail Studios, LLC.