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Welcome to commodityonline Escrow, a secure platform facilitating transactions between buyers and sellers. By using our services, you agree to the following terms and conditions.

• commodityonline guarantees the payment for transactions facilitated through our Escrow platform.
• Once the buyer accepts the seller's invoice, the funds will be held securely until delivery of promised goods is done satisfactorily to the buyer and seller.
• The amount mentioned in the invoice will be considered as the final disbursement amount.
• Commodityonline's responsibility to a particular transaction will cease once the goods are delivered and payment is disbursed. Any dispute regarding the goods has to be taken up by the seller and buyer themselves.

• Commodityonline's scope of work does not include logistics.
• Either parties can include logistics cost in the invoice with prior consent from bearing party.
• All transportation of goods, final delivery and its time frame is outside the purview of Commodityonline.
• Similarly, commodityonline is also not into quality testing.
• Buyer has to be satisfied with the quality of goods after deliberation with the seller or after approving samples at their own level and cost.
• There is no quality control test process in the current process of commodityonline and it is entirely upto the transactional parties to be satisfied and accept good as per their own set quality protocols.
• Users are responsible for verifying quality aspects independently.

• After the buyer is satisfied with quantity and quality of goods of the seller on Commodityonline interface, they must contact the seller party on whatsapp or telephone to discuss any negotiation or quality check.
• After both parties agree to buy/sell at a certain rate agreed by both parties, the buyer creates a request on the platform.
• We strongly recommend the conversations to be recorded on the phone or keep a copy of the conversation on the finalisation of the rates/quantity for clarity.
• After the buyer creates a request, the same quality, quantity and price is to be maintained by the seller.
• The seller then creates an invoice in his/her own system and all the items agreed mutually (Transportation/Quality test costs etc) should be included in the invoice to conclude on a final amount.

• The buyer reviews the invoice and accepts the invoice
• Buyer then initiates the escrow process by adding details of the bank etc.
• An amount equivalent to the invoice amount is to be transferred to the Commodityonline Escrow account.
• This money does not go the seller and is safe with commodityonline until goods is delivered.

• commodityonline securely holds the payment
• Once goods is delivered and buyer confirms the delivery, the amount is disbursed to the seller.
• Please note that this has to be done at a fair play time once the good is delivered.
• Buyer has to confirm the receipt of goods within 2 days of delivery.

• Users are responsible for accurate communication, including rates, product details, and transaction terms.
• Commodityonline is responsible only for safeguarding your money and not any other aspects of the transaction.
• Buyers and sellers are encouraged to independently verify transportation and quality testing arrangements.

In the event of a dispute:

Users experiencing a dispute are encouraged to make reasonable efforts to resolve the issue amicably between themselves.

If the dispute persists, users must contact commodityonline for assistance. We will facilitate communication to reach a resolution.

If the dispute remains unresolved, commodityonline reserves the right to hold the payment until a satisfactory resolution is reached. This may come from a mutual agreement between the parties (buyer and seller) or be based on a court order.

If the dispute escalates to a legal level, commodityonline will comply with court orders. Users understand that commodityonline may be required to release funds according to a legally binding decision.

commodityonline is not liable for issues related to transportation, quality testing, or any disputes between users.

commodityonline reserves the right to update these terms and conditions. Users will be notified of any changes.

By using commodityonline Escrow, you acknowledge and agree to abide by these terms and conditions. For any queries or concerns, please contact us at [email protected].

Last updated: 22/12/2023

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