Refund Policy

This Refund Policy applies to any services, retainers, or engagements entered into with Challenger Research Ltd.

Challenger Research operates as a strategic intelligence and research organisation providing bespoke, time-based, and insight-driven services. As such, our work is not a standardised product and is tailored to each client engagement.

1. Retainers and Advisory Engagements

All retainers and advisory engagements with Challenger Research are provided on a contractual basis, agreed in advance between the parties.

Unless otherwise expressly stated in a written agreement:

Retainer fees are non-refundable once the engagement period has commenced.
Fees reflect access to expertise, ongoing analysis, availability, and reserved capacity, not solely the delivery of specific outputs or documents.
Retainers may include strategic interpretation, monitoring, briefings, and availability for consultation, which cannot be retrospectively withdrawn or returned.

This applies whether or not a client ultimately utilises the full scope of advisory time available during the retainer period.

Where a retainer is terminated early by the client, Challenger Research reserves the right to retain all fees paid up to the termination date, including any prepaid amounts covering the agreed engagement period.

2. One-Off Research and Bespoke Work

For one-off research projects or bespoke analytical work:

Fees are non-refundable once work has commenced, including preparatory research, scoping, or resource allocation
Where work has not yet commenced, any refund will be considered at Challenger Research’s discretion

If a project is terminated early by the client, Challenger Research reserves the right to retain fees corresponding to work completed, time allocated, resources committed, and opportunity cost incurred.

Where milestones or staged payments are agreed, invoices issued for completed stages remain payable in full.

3. No Guarantee of Outcomes

Challenger Research provides analytical judgement, interpretation, and research based on available information, expertise, and professional assessment. We do not guarantee specific outcomes, conclusions, or results from any engagement.
Refunds will not be issued on the basis of disagreement with analysis, interpretation, methodologies, or findings, nor due to changes in external circumstances after delivery.

4. Exceptional Circumstances

Refunds may be considered in exceptional circumstances, at Challenger Research’s sole discretion. Any such consideration does not set a precedent for future engagements.

5. Payment Disputes

Any disputes relating to fees or payments must be raised in writing within 14 days of the relevant invoice date. Failure to do so constitutes acceptance of the charges.

6. Governing Law

This Refund Policy is governed by and construed in accordance with the laws of England and Wales.

Contact

For questions regarding this Refund Policy, please contact Challenger Research via the contact details provided on the Website.