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Huge Refund Being Held- Steel Company Refusing To Return My Promised Refund

In 2021, I was forced to close a contract with a steel manufacturer due to COVID's impact on production costs. This contract required a $15,000 deposit to begin drawings. Due to COVID-19, my order was canceled before the drawings were completed & nothing ever went into production. I requested a refund and the company told me:

"Our initial deposits are typically nonrefundable. However, please find below the options you have at your disposal for the deposit. Let me know if you have any questions upon review. We appreciate your business and look forward to a continued working relationship!

1. We can apply 100% of the deposit to either this project when it is taken off hold or any future project. Essentially, you would have a $15,000 Credit with X company.

2. We can issue a 50% refund. Unfortunately, the remaining 50% would not be credited once this project is taken off hold or towards future projects."

I chose a partial refund. I had reached out in 2022 inquiring if pricing had stabilized yet and had a few communications since then. I reached out asking to get a refund since I can no longer find a site for this project and this was the reply:

"It’s been roughly 3 years since our offer on this project. We’d be happy to still apply your deposit towards any future project, however, this partial refund offer was not meant to be in perpetuity. "

WHAT DO I DO? I can't lose out on $7,500. Signing the initial deposit for $15,000 was enough of a heartache and now I feel like I'm being jerked around.

Thank you for reading & Please help!

submitted by /u/DIYmood
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Huge Refund Being Held- Steel Company Refusing To Return My Promised Refund

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