Refund Policy
This Refund Policy outlines the conditions under which refunds are applicable for facility rental bookings with Permodalan Satok Berhad (PSB).
1. Booking Fees
Booking fees paid are deemed part of the rental payment upon event completion. Booking fees are refundable in the case of cancellation by the Client (refer to Cancellation Request table).
Review Date | Function Reduction |
90 days prior to the event | 100% refundable of Deposit Paid |
60 days prior to the event | |
30 days prior to the event | 60% refundable Deposit Paid |
Less than 20 days prior to the event | Deposit Paid Forfeited |
2. Deposits
Deposits are refundable according to the following schedule:
Review Date | Deposit (%) Required |
90 days prior to the event | 10% of total estimated function charges |
60 days prior to the event | 40% of total estimated function charges |
30 days prior to the event | 50% of total estimated function charges |
20 days prior to the event | 80% of total estimated function charges |
Less than 10 days prior to the event | Full Payment |
3. Cancellation by Venue Provider
If PSB cancels the booking for reasons other than Client’s breach, all payments including deposits will be refunded in full.
4. Unforeseen Circumstances
In case of natural disasters, emergencies, or events beyond PSB’s control, refunds will be issued for all amounts paid by the Client, subject to the terms outlined in this policy.
5. Payment Refund Method
Refunds will be processed via the same payment method used by the Client, unless otherwise mutually agreed in writing. Refunds will be processed within 30 business days from the date of approval.
6. Refund Request Process
All refund requests must be submitted in writing to marketing@permodalansatok.com.my, stating the reason for cancellation and supporting documents (if any).
7. Non-Refundable Items (if any)
Certain costs such as administrative fees or third-party vendor charges may be non-refundable.