These Terms and Conditions ("Agreement") govern the use of the escrow services provided by Escrow Chain ("We," "Our," or "Us") to users ("You" or "Your"). By using Our escrow services, You agree to be bound by these terms. If You do not agree with any part of these terms, please do not use the service.

1. Definition of Escrow Service

Escrow refers to a service that holds funds, documents, or other assets ("Escrow Items") in a secure account until both parties (the buyer and the seller) fulfill their obligations as per the agreed-upon terms. Once all conditions are met, the Escrow Items are released to the appropriate party.

2. Eligibility

To use Our escrow services, You must:

  • Be at least 18 years old or of legal age in Your jurisdiction to form a binding contract.

  • Have the legal capacity to enter into and perform the obligations outlined in this Agreement.

  • Be able to provide valid identification and other requested information to verify Your identity.

3. Account Creation and Security

  • You must create an account with Us to use the escrow service. You agree to provide accurate and complete information during registration and to update it as necessary.

  • You are responsible for maintaining the confidentiality of Your account credentials, including Your username and password. You agree to immediately notify Us of any unauthorized use or security breach of Your account.

4. Escrow Transaction Process

  • Agreement Between Parties: Before initiating an escrow transaction, both parties (the buyer and the seller) must agree to the terms of the transaction, including the goods or services being exchanged and the conditions for the release of funds or assets.

  • Deposit into Escrow Account: The buyer will deposit funds (or other agreed assets) into an escrow account controlled by Us. The funds will remain in escrow until the conditions of the transaction are met.

  • Verification and Fulfillment: Once the seller fulfills the terms of the agreement (e.g., shipping goods or providing services), the buyer must confirm receipt or satisfaction. If the buyer accepts the transaction, the funds will be released to the seller. If any disputes arise, the escrow service will mediate according to the agreed terms.

  • Release of Funds/Assets: Funds or assets in the escrow account will only be released when both parties agree, or if the conditions stipulated in the escrow agreement are fulfilled. If there is a dispute, We will follow the dispute resolution process as outlined in this Agreement.

5. Fees

  • We may charge a fee for the escrow service, which will be clearly outlined at the time of the transaction. Fees can be deducted from the funds held in escrow or paid separately by either the buyer or seller.

  • We reserve the right to change Our fee structure at any time, but any such changes will not affect existing transactions.

6. Disputes and Resolution

  • In the event of a dispute, both parties are encouraged to resolve the issue amicably. If the dispute cannot be resolved, We will mediate and make a decision based on the terms of the agreement and applicable law.

  • Our decision in dispute cases will be final, except where applicable law provides otherwise.

7. Responsibilities of Users

  • Buyers: You are responsible for ensuring that You have sufficient funds or assets to complete the transaction. You agree to provide accurate instructions for the release of funds or assets upon completion of the transaction.

  • Sellers: You agree to fulfill Your obligations as outlined in the agreement with the buyer. You must ensure that the goods or services provided meet the agreed specifications.

8. Limitation of Liability

  • We are not responsible for any losses or damages arising from:

    • Fraudulent or unauthorized transactions initiated by You or any third party.

    • Disputes between the buyer and seller, including dissatisfaction with goods or services provided.

    • Delays in processing transactions due to technical issues or unforeseen circumstances.

  • Our total liability to You for any claim arising from the use of the escrow service will be limited to the amount of the escrow transaction.

9. Privacy and Data Protection

We respect Your privacy and will handle Your personal information in accordance with Our Privacy Policy [Insert link to privacy policy]. You agree to provide accurate, current, and complete information when required and to update such information as necessary.

10. Termination of Service

  • You may terminate this Agreement at any time by ceasing to use the escrow service and closing Your account.

  • We may suspend or terminate Your access to the escrow service if You breach this Agreement or if We believe that Your actions are illegal, fraudulent, or harmful to other users.

11. Governing Law and Jurisdiction

This Agreement shall be governed by and construed in accordance with the laws of the United Kingdom. Any disputes arising from this Agreement will be subject to the exclusive jurisdiction of the courts of [Insert Jurisdiction].

12. Modifications to the Terms

We reserve the right to modify or update these Terms and Conditions at any time. Any changes will be posted on Our website or communicated to You through other means. Your continued use of the escrow service after such changes constitutes Your acceptance of the new terms.

13. Contact Information

For any questions or concerns regarding these Terms and Conditions or the escrow service, please contact Us at:

Escrow Chain
128 City Road, London, United Kingdom, EC1V 2NX
Email: support@escrowchain.co.uk