Escrow Terms & Conditions

1.1 The Madeinafrica.io Escrow Service ("Escrow") is a secure payment mechanism that holds Buyer funds in trust until the terms of a Trade Order are fulfilled.

1.2 The Escrow Service is operated by [Your Company Name] in partnership with [Escrow Partner Name, e.g., Tazapay / licensed escrow provider], a licensed financial services provider regulated by [regulatory authority].

1.3 By using the Escrow Service, both Buyer and Supplier agree to these Terms.

2.1 Step 1 — Agreement: Buyer and Supplier agree on Trade Order terms (product, quantity, price, Incoterms, delivery timeline, inspection period).

2.2 Step 2 — Payment: Buyer deposits the full Trade Order amount into the Escrow account via an approved payment method.

2.3 Step 3 — Confirmation: The Platform confirms that funds are secured ("Funded" status). Supplier is notified to proceed with shipment.

2.4 Step 4 — Shipment: Supplier ships the goods and uploads shipping documents (bill of lading, airway bill, tracking number) to the Platform.

2.5 Step 5 — Delivery: Goods arrive at the Buyer's specified destination.

2.6 Step 6 — Inspection: Buyer has 7 business days to inspect the goods and confirm they match the agreed specifications.

2.7 Step 7 — Release: Buyer clicks "Confirm Receipt & Release Payment". Funds are released to the Supplier's designated bank account within 3–5 business days, minus any applicable Platform fees.

2.8 Step 7 (Alternative) — Dispute: If the goods do not match the agreed specifications, the Buyer raises a dispute within the 7-day inspection period. Funds remain frozen until the dispute is resolved.

3.1 The Platform charges an Escrow Service Fee of [X]% of the total Trade Order value, split equally between Buyer and Supplier unless otherwise agreed.

3.2 Payment gateway fees (charged by Paystack, Flutterwave, Stripe, M-Pesa, etc.) are additional and vary by payment method and currency. These fees are displayed before payment confirmation.

3.3 Currency conversion fees may apply if the Buyer's payment currency differs from the Supplier's settlement currency. The Platform uses the prevailing exchange rate at the time of settlement plus a [X]% conversion margin.

3.4 All fees are deducted from the Escrow amount before release to the Supplier.

4.1 Funds are released to the Supplier when:

• The Buyer confirms receipt and satisfaction; OR
• The 7-day inspection period expires without a dispute being raised; OR
• A dispute is resolved in the Supplier's favour by the Platform's mediation team; OR
• A binding arbitration or court order directs release.

4.2 Funds are released to the Buyer (refund) when:

• The Supplier fails to ship within the agreed timeline and the Buyer cancels; OR
• A dispute is resolved in the Buyer's favour; OR
• Both parties mutually agree to cancel the Trade Order; OR
• A binding arbitration or court order directs refund.

5.1 If a Buyer raises a dispute, the Escrow funds are frozen immediately.

5.2 Both parties must submit evidence within 5 business days (photos, inspection reports, chat logs, shipping documents).

5.3 The Platform's mediation team will review the evidence and propose a resolution within 10 business days.

5.4 If either party rejects the proposed resolution, the dispute is escalated to senior mediation or external arbitration.

5.5 During the dispute process, neither party may withdraw from the Platform or close their account without resolving the dispute.

6.1 The Escrow Service is available only for Trade Orders between Verified Suppliers and Business Verified (or higher) Buyers.

6.2 Minimum Trade Order value for Escrow: USD $500.

6.3 Maximum Trade Order value for Escrow: USD $500,000 per transaction. Larger transactions require special approval.

6.4 The Escrow Service does not cover services, digital goods, or intangible assets unless explicitly approved.

7.1 All Escrow transactions are subject to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. The Platform may request additional documentation for large or unusual transactions.

7.2 The Platform reserves the right to freeze or report any transaction that appears suspicious or violates sanctions regulations.

7.3 Escrow funds are held in a segregated trust account and are not commingled with the Platform's operational funds.

8.1 These Escrow Terms are governed by the laws of the Republic of South Africa and the regulations of the Financial Sector Conduct Authority (FSCA).