e-Seller - Escrow
How it works:
e-Seller holds the funds for
up to a maximum of 30 days from the day/time of the purchase.
Once the buyer is satisfied with
their purchase, the buyer must navigate to the Purchases section of their account
and indicate that they would like to release the escrow by marking as received,
e-Seller escrow system will immediately send the balance of the order to the
vendors receive address, providing the order has had sufficient time to mature and cycle 3 Bitcoin network block confirmations.
If the buyer does not follow
the above process, the balance of the order is automatically released to the seller once 7 days
e-Seller reserves the right
to release funds to sellers before the buyer indicates to release escrow or
before 7 days. We may choose to do this where sellers have given sufficient
proof of delivery to us, where buyers are not responsive to private messages or
support requests, or where other exceptional circumstances prevail.
In the event that they have
not received or are not satisfied with their purchase, buyers can initiate a
dispute for the order. Sellers are sent a notification of the buyers request
for a refund. The following process begins:
- Buyers are expected to
give sellers a minimum of 72+ hours to deliver the item before initiating
- Sellers are given approximatly 72 hours
to make an initial response to a dispute, either agreeing to it or, to defend
- If the seller agrees to
the refund, buyers are immediately refunded their coins minus Bitcoin network fees.
- If the buyer or seller
raises a dispute, our Support team will manage and arbitrate the dispute resolution process.
We expect both the buyer and seller to provide evidence
to support their claim/defence. Always try to resolve order issues before
initiating a dispute. Support will make a decision on the dispute after
considering; evidence provided and buyer and vendor’s reputation amongst
other indicators generated during user’s use of our service.
- If the seller does not
respond within the 72 hour time-frame to either agree or dispute the
refund request, we will normally determine in favour of the buyer and
action a refund.
- Once evidence is received
from both parties, e-Seller will use this, along with other information
sources such as account history, feedback and prior sales, to make a
decision as to who should receive the funds from escrow.
- By selling or buying goods
and services using our escrow service, you agree that e-Seller reserves the
right to use its own judgement an any and all means at their disposal in
order to arbitrate a refund request and reach a final decision.
- Escrow refund decisions
are final and cannot be overturned.
- Funds are released within
7 days as standard, buyers have the option to extend the
escrow for up to 30 days, after which a dispute would need to be raised to
delay the release any further.
- e-Seller will take into
account the seller’s previous history, feedback, the type and value of
item sold, along with other information sources, before deciding whether
to release escrow early or otherwise.
- e-Seller reserves the right
to refuse to release funds from escrow before 30 days and leave the
decision to the buyer.
- e-Seller will not release
funds from escrow to sellers if the buyer has already raised a dispute and is ongoing.
- Whilst it is optional, we
recommend buyers use/maintain the escrow for all purchases they make until they're in receipt of their item(s).
- All market transactions
including FE are subject to a market fee of 3% commission; this is
deducted from the vendors total sale value including shipping.
- We recommend buyers only
release funds once they have received there item unless they have built a
good working relationship with the vendor and are happy to release payment
in advance of receiving item.
- e-Seller holds funds in
escrow for up to a maximum of 30 days before it is released to sellers,
unless a refund request/dispute is in progress. Normal escrow release time
is 7 days. Customers have the option to extend this escrow when the order
hasn’t been fulfilled. Vendors demonstrating consistency and a high
standard of achievement in feedback and service are encouraged to apply
for the option to allow Finalize Early option on their items.
- FE is particularly useful
for higher value orders, where the vendor’s reputation and ongoing sales
status ratifies likeliness in fulfilment of orders. As with all higher
value orders we strongly recommend opting for tracked delivery. Exercise
caution when dealing with vendors with little or no sales history asking
for FE on an account that hasn’t been granted such permission, especially
higher value orders. We will only grant these permissions to vendors held
in high regard.
- When a buyer purchases an
item using FE, the funds are released to the vendor within a number of
hours after customer has placed an order and settled the balance.
- Do not buy or sell gift
cards, credit cards phone credit and similar. No digital items.
- Never agree if a seller
asks you to release escrow before they ship the items if they aren’t FE
- Never agree to
transact with sellers outside of e-Seller. We cannot protect you there.
- Do not agree to send
Bitcoins directly to the seller’s Bitcoin address.
- If you release the funds
for an item, we cannot refund you for that item. The seller receives the
Bitcoins as soon as you release them and we no longer have the ability to
refund the coins as they will be out of e-Sellers control. Be sure that you trust the vendor enough to release the payment before goods / services are in hand.
- Be clear with item
descriptions and prompt to deliver.
- Use the private message
system for all communication.
- Try to resolve issues with
sellers before it leads to a dispute.
- Respond quickly to any
refund requests, especially if you dispute them.
- Provide e-Seller with as
much evidence as possible if you wish to initiate or defend a dispute.
- Always try to deliver your items using tracked shipping, where proof of postage won't be an issue in case of dispute.