2) Service Description - Service is an Internet-based escrow smart contract transaction creation service conducted by Escaroo.com, Escaroo Limited, a Jersey-based corporation - acts as a (SAAS) Software as a Service provider for the creation of unique blockchain-based escrow smart-contracts. The Service of which is intended to give users the ability to facilitate the creation of their own (user-owned, user-created, user-managed) blockchain-based escrow transactions, based on the provisions of this Agreement, Site and Transaction Escrow Instructions in effect. Escaroo does not touch, handle, manage, receive or distribute "user" funds in any manner.
4) Prohibited Transactions - Users may not use the Site or Service in connection with any Transaction that is illegal or involves any illegal goods, or for any illegal purpose; involving obscene material; involving the sale or trafficking of people, involving ammunition or firearms; involving pirated software, DVDs or videos or digital items that violate the copyrighted work; involves illegal drugs or controlled substances; involves ransom and or ransomware scams; involve transactions that directly or indirectly involve people (individuals or entities) with whom the person prohibited from engaging in accordance with export sanctions and controls managed by the Ministry of Finance, Trade and the State of your domiciled Country; or involve transactions that directly or indirectly involve people (individuals or entities) with whom the person prohibited from engaging in accordance with the laws and regulations managed by the Ministry of Finance, Trade and the State of your domiciled Country. Additionally, Escaroo.com, in its sole discretion, may refuse to complete any Transactions which Escaroo.com considers to be invalid or carried out by anyone other than you, may violate any law, regulation or regulation, or if Escaroo.com has a reason which makes sense not to respect him. Each User agrees to indemnify and hold Escaroo.com free from losses resulting from any use or attempt to use the Services in violation of this Agreement.
5) Payment Refusal - Due to the use and nature of cryptographic currencies, making electronic fund transfers may be limited by your agreement with your financial institution and or by applicable law. Escaroo Limited is not responsible to any User if the Escaroo.com smart contract does not complete a transaction as a result of these restrictions, or if a financial / exchange institution fails to honour any credit or debit to or from the Account. Escaroo.com is not responsible to a User in the event an Escaroo.com smart contract rejects a payment due to user error and or incompetence. Escaroo.com may post operating rules related to payments on the Site and change these rules from time to time without notice.
7) Buyer Obligations - On the Transaction Details Screen, the Buyer must designate a payment mechanism (eg Bitcoin, Ether, Litecoin, etc.) and the Cryptographic Wallet Address where the purchase price and related costs (except those costs which must be paid by the Seller) will be obtained for deposit to escrow. Depending on the number of Transactions and the currency chosen for the Transaction, the Buyer must send the required funds through a blockchain-based transaction to the unique wallet address listed in the transaction panel. The Buyer authorizes Escaroo.com and official Escaroo.com agents to initiate credit or debit transactions, as applicable, to obtain the purchase price and fees to be paid for a Transaction and to initiate any debit or entry or credit reversal, depending on the situation, it may be necessary to correct errors in payments or transfers and to release Buyer's obligations under Section 19 of this Agreement. Funds received from the Buyer will be deposited into an escrow-based smart contract wallet, created specifically for your transaction, and registered on the appropriate blockchain ("Escrow Account"). Escrow deposits do not generate interest for the Buyer or Seller.
The buyer must notify the Seller about the receipt or non-receipt of the item on the date the item was received, or the Buyer Inspection Period begins. The Buyer must notify Seller about the Buyers acceptance or rejection of goods before the Buyer Inspection Period ends. After receiving notification from the Buyer, that the item has been received, and accepted (electronically signed), the Escaroo.com smart contract will transfer the payment amount (less, commission fees) to the Seller Account. Fund transfers to the Seller will generally begin within a few minutes from the signed acceptance. If the Buyer has not notified Escaroo.com about not receiving or rejecting the item during the Buyer Inspection Period, the Buyer authorizes the Escaroo.com smart contract to send escrowed funds (not including Escaroo.com fees) to the Seller. The buyer must follow the procedures set out on the Site if the item is rejected.
8) Seller Obligations - On the Transaction Details Screen, each Transaction Seller must designate the Cryptographic Wallet Address where the Transaction payment will be made. Each Seller authorizes Escaroo.com and its authorized agents to make credit entries to the Seller Account through a smart contract to pay the purchase price, or the applicable balance, and to debit the Seller Account to release Seller obligations. Each Seller in a Transaction will send the items listed or produce the required service as listed in the Transaction Details Screen directly to the Buyer (or Buyers), at the address specified by the Buyer as indicated on the Escaroo.com website, and with the terms and conditions agreed in the Escrow Transaction Instructions and General Escrow. The seller must use a shipping service that provides shipping confirmation and must provide a tracking number or reference for shipping items to Buyer. The seller permits Escaroo.com to act as its agent in communicating with the shipping company regarding the shipping notification. If the Escaroo.com platform does not receive a shipping notification from the Seller within ten (10) calendar days of the notification from the Escaroo.com notification to the Seller to send the items, the Seller authorizes Escaroo.com to return the deposited funds (excluding Escaroo.com fees) For Buyers. In the event of a return of goods by the Buyer, the Seller will notify Escaroo.com about the receipt of the returned item. Upon receiving notification from the Seller, a five (5) day inspection period from the Seller will commence. If the Seller receives items returned within the inspection period or fails to act during the inspection period, Escaroo.com will trigger a release of funds (not including Escaroo.com fees) to the Buyer. If the Seller notifies Escaroo.com about the non-receipt of items returned within the Seller inspection period, the Escaroo.com smart contract for the said escrow transaction, will hold the escrow funds pending dispute resolution or take other permitted actions. Notwithstanding anything of the above, if all Users for the Transaction agree to the Transaction Details Screen that no shipments are required, then no party to this Agreement will have obligations under this Agreement concerning shipments.
9) Business Broker Obligations - On the Transaction Details Screen, each Broker of a Transaction must designate a Wallet Address where the Broker Fee payment will be made. Each Broker authorizes Escaroo.com and its official agents to initiate credit entries to the Broker's Account to pay Broker commissions and to debit the Broker's account to release the Broker's obligations. Each Broker in the Transaction must provide a Buyer email, Seller email, and Transaction details including purchase price, description of the merchandise, inspection period and which party is responsible for Broker and Escrow fees.
Business Clients who are also Brokers for (Third Party Managed Accounts) are solely responsible for any KYC (Know Your Customer) or AML (Anti Money Laundering) requirements necessary by law for the jurisdiction which transactions are taking place. Escaroo will not be responsible for third party client identification in any way.
Business Clients who are also Brokers for (Third Party Managed Accounts) are solely responsible for the mediation and or dispute management for said Accounts, who access and use the Escaroo.com system either directly or indirectly via a third-party system. Escaroo will not be responsible for Third Party Managed Accounts who are unable to settle disputes via their Business Broker.
10) Escaroo.com Obligations – Escaroo.com is obliged to perform only tasks that are clearly described in this Agreement and the General Escrow Directive. Escaroo.com will not be responsible for errors in judgment, for any actions taken or not taken, or for factual or legal errors, except for intentional negligence or intentional errors (subject to limitations in Section 17 below). Escaroo.com can rely on notifications, requests, chat messages, letters, certificates, agreements, or any other documents intended to be sent or signed by or on behalf of the User indicated as the sender or signer and has no obligation to conduct an investigation or investigation. In the event that Escaroo.com is unsure about the duties or rights of Escaroo.com under this Agreement, accept instructions, requests or notices from Users or financial institutions which, in the opinion of Escaroo.com, contradict one of the provisions of this Agreement, or any disputes that arising in connection with this Agreement or Funds held within a transaction based smart contract, Escaroo.com may (i) consult with our chosen legal counsel (including our own lawyers) and any action taken or not taken based on the advisor's advice must be deemed approved by you, or (ii ) does not take any action other than depositing funds in escrow for delivery in accordance with the written agreement of the User, the final decision or award of the arbitrator based on arbitration begins and is carried out in accordance with the General Escrow Instruction or final award which cannot be appealed by the competent court, or (iii) carrying out our duties based on this agreement is for depositing/distributing all funds by means of cryptographic based digital transaction using a blockchain based smart contract with a competent jurisdiction court in accordance with the procedure described in the General Escrow Instruction.
11) Canceling a Transaction - Transactions on the Escaroo.com platform have three different states (New Escrows, Active Escrows and Closed Escrows). Cancellation of a Transaction differs depending on which state the transaction is in. Escrow Transactions that are in the "New Escrows" state can be deleted/cancelled by the party that started the escrow transaction, once deleted both parties to the transaction will no longer see or have access to the transaction. Escrow Transactions that are in the "Active Escrows and Closed Escrows" state, cannot be deleted. This is due to the smart contract being published to a public blockchain. Once published, Escaroo.com can no longer delete publically registered smart-contract escrows, due to the nature of blockchain technology. If a transaction is in the "Active Escrows" state but has not received funds, either party to the transaction can choose to hide the escrow transaction within their Escaroo.com dashboard, but cannot officially cancel and or delete it. If a transaction is in the "Active Escrows" state and has received funds, either party to the transaction can request "Mediation", starting the process of fund disbursement. Once mediation is complete, either party to the transaction can choose to hide the escrow transaction within their Escaroo.com dashboard, but cannot officially cancel and or delete it. "Closed Escrows" are fully completed escrow transactions, and cannot be cancelled, deleted or hidden in any way. Escaroo.com may choose to limit access to a transaction if; Escaroo.com or an agent of Escaroo.com suspects illegal activity within a transaction.
12) Questions about Services - You can ask about payments made through the Service with eMailing Customer Support at [email protected] If you believe that an error has occurred or that your Account or Service has been misused, you agree to email as soon as possible, but no later than forty-eight hours after you learn of the error. When you contact Escaroo.com, please be prepared to provide your name, Escaroo.com reference number and email address that you have registered on the Escaroo.com site.
13) Statements & Verification - You agree that all disclosures and communications regarding this Agreement and the Service will be made via email or on the Site unless the parties make other arrangements as specified in the General Escrow Instruction.
14) Digital Identification - You understand and agree that Escaroo.com will create, publish and verify digital identification ("Digital ID") for each User. This Digital ID is attached to every electronic document and email notification received. You agree that your Digital ID is a valid "Electronic Signature." Please review the General Escrow Instructions for more information on using the Escaroo.com Digital ID.
15) Fees - Unless otherwise agreed by each User in the Transaction, the Buyer/Seller agrees to pay the appropriate fees for the Services disclosed on the Site when the Escrow Transaction Instruction is agreed to by all such Users, as well as other fees. , including, without limitation, third party service fees (for example, shipping, valuation, inspection, etc.). After payment, Escaroo.com fees are non-refundable. Escaroo.com fees may change from time to time at the absolute and absolute discretion of Escaroo.com. Escaroo.com is not responsible for payments for sales, use, personal property or other government taxes or levies that are imposed on any goods purchased or sold through the Service or arising from Transactions.
16) Security - Escaroo.com uses a secure socket layer ("SSL"), a security protocol that provides data encryption, server authentication, and message integrity for connections to the Internet to ensure that the data you provide Escaroo.com is not sent over the Internet un-encrypted. and can't be seen by unauthorized people. Escaroo.com also implements a security system that requires a user ID and password to access your transactions on the Site. You agree not to give your password to other people or entities and protect it from being used or discovered by others.
17) Disclaimers - You expressly agree that your use of the Services is at your sole risk. The Services are provided on a strictly "as is" and "as available" basis. Escaroo.com MAKES NO WARRANTY WITH REGARD TO THE UNDERLYING TRANSACTION, ANY ITEMS OBTAINED BY YOU THROUGH THE USE OF THE SITE OR THE SERVICES, THAT THE SERVICES WILL MEET YOUR REQUIREMENTS, OR THAT THE SERVICES OR THE SITE WILL BE UNINTERRUPTED, TIMELY, OR ERROR FREE.
Escaroo.com expressly disclaims any and all express and implied warranties, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement. Escaroo.com shall not be liable or responsible for those guarantees, warranties and representations, if any, offered by any Seller of items. No advice or information, whether oral or written, obtained by you from Escaroo.com or through the Services shall create any warranty not expressly made herein.
You acknowledge and agree that Escaroo.com does not endorse the website of any third party, or assume responsibility or liability for the accuracy of any material contained therein, or any infringement of third party intellectual property rights arising therefrom, or any fraud or other crime facilitated thereby. In no event will Escaroo.com be liable for any act or omission of any third party, including, but not limited to, your financial institution, any payment system, any third party service provider, any provider of telecommunications services, Internet access or computer equipment or software, any mail or delivery service or any payment or clearing house system or for any circumstances beyond Escaroo.com's control (including but not limited to, fire, flood or other natural disaster, war, riot, strike, terrorism, act of civil or military authority, equipment failure, computer virus, infiltration or hacking by a third party, or failure or interruption of electrical, telecommunications or other utility services).
18) Limitation of Liability - TO THE EXTENT PERMITTED BY APPLICABLE LAW, NEITHER ESCAROO.COM OR ITS AFFILIATES WILL BE LIABLE FOR ANY DAMAGES, DIRECT, INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL, RELATED TO THE USE OF THE SITE OR THE SERVICES OR YOUR INABILITY TO USE THE SITE OR THE SERVICES.
19) Termination of Services - Escaroo.com may suspend or stop your use of the Service at any time, without notice for any reason, at the sole discretion of Escaroo.com. Unless guaranteed by risks to the security, privacy or integrity of the Service, Escaroo.com will endeavor to give you prior notice of the suspension or termination of the Service by sending you an e-mail, but Escaroo.com is not obliged to do so. You will remain responsible for all Transactions that you make through the Service prior to termination, and the performance of your obligations, including but not limited to, delivery of goods and payment of all amounts that you have before termination or termination of your use of the Service. You agree to pay all fees and expenses (including reasonable attorneys fees) that Escaroo.com may incur for (a) collect the amount you owe under this Agreement, General Escrow Instruction, or Transaction Escrow Instruction or (b) to start arbitration or litigation to resolve disputes between Buyers and Sellers, as provided in the General Escrow Instruction.
20) Non-Transferable Services - You may not transfer this Agreement or Escrow Instructions to any other person or entity. Your right to use the Service will not be sold or transferred to any other person or entity without the prior written consent of Escaroo.com. Escaroo.com may set this Agreement with notice to you. Any assignment or transfer that violates this provision will be null and void.
21) Modifications - Escaroo.com has the right to change this Agreement, or any part thereof, at any time, without prior notice, provided that no changes will apply to the Transaction once the User for the Transaction has agreed to the Transaction. Escrow instructions. You understand that the latest version of this Agreement will be found on the Site.
23) Indemnification - You agree to indemnify and hold Escaroo.com, the Escaroo.com affiliates and each officer, director, shareholder, employee and designated party, harmless from any claims, requests, expenses or damages, including reasonable attorneys' fees and court fees, arising out of or related to your use of the Service or any violation of this Agreement, rules contained in the Site or Escrow Transaction Instruction, including, but not limited to, payment of Escaroo.com fees and any fees collected from the organization or reversal or not paying credit or debit entries.
Escaroo.com may establish this Agreement for current or future affiliated companies and for interested successors. Escaroo.com may also delegate certain Escaroo.com rights and responsibilities under this Agreement to independent contractors or other third parties.
Revised October 8th, 2020.
If you have any questions about these Terms, please contact us.