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EscrowVillage - Transaction Agreement

For the Buyer:

  1. We are not to be held responsible if after authorizing us to release payment and something goes wrong. So do your due diligence and put all necessary security checks in place to protect whatever you are buying from being recovered or taken back.

For the Seller:

  1. Handover all correct and necessary information to the buyer. Explain to them as specifically as possible without any form of vagueness. If there is a problem with anything, explain before the transaction begins. We will mediate in favour of the BUYER if they complain that you hid information from them and only disclosed a problem, challenge or issue after the transaction had already begun or is in process.

For Both:

  1. Transactions should not exceed 5 hours [Unless agreed by both parties (Buyer & Seller)]. If any party, buyer or seller does not respond within 5 hours, we will not wait for you nor be responsible for any loss that you may incur. We will mediate the transaction in favor of any party available after 5 hours. If the deal has to take more than 5 hours, it should be agreed by both parties.
  2. We take a 2.5% charge - This means for N10,000, we take N250. This fee can be paid by just the buyer, the seller, or split by both [1.25% each].
  3. If the transaction AMOUNT EXCEEDS N100k, both buyer & seller have to share a copy of a valid ID [NIN, International Passport, Driver's License OR Voter's Card ONLY] privately to the EscrowVillage ADMINS before the transaction takes place. The name in this ID must match the account you are paying from as the BUYER and must match the account you are receiving payment to as the seller. This is simply for identification purposes and to report to the appropriate authorities in the event any party has fraudulent intentions.
  4. Anything you would like to state to the admin or ask before the transaction begins, kindly do so in the group.

Additional Escrow Rules:

  1. Both parties must respect each other's time and avoid unnecessary delays. We expect prompt communication and cooperation throughout the entire process.
  2. We will NOT BE RESPONSIBLE for any transaction done outside EscrowVillage / without the knowledge of the EscrowVillage Admins.