1. General Instructions
3. General Provisions
4. Buyer instructions
Once you have verbally agreed with the Seller to the terms of the Transaction, you can then register at PaySAFEescrow.com. All correspondence within the Site will be directed to this email address. Upon registration, an email confirming registration will be automatically sent to the email address you provided. Once registered, you can create a new Transaction and open an Escrow Account. Buyers can then log onto the Site anytime 24/7 to check their Transaction status, accept or reject escrow payments, and enter comments to their Transaction Seller through the Site.
5. Seller instructions
Once you have verbally agreed with the Buyer to the terms of the Transaction, you can then register as a Seller at PaySAFEescrow.com. An email will be automatically sent to the email address you provided upon completion of your registration. All correspondence within the Site will be directed to this email address. Upon completion of your registration, Sellers can create a new Transaction, log onto the Site anytime 24/7 to check their Transaction status and availability of the escrowed funds, request payment, and enter comments to their customers through the Site. All payments from the Escrowed Funds will be credited to the Seller account using methods as agreed by Accruit LLC and the Seller.
6. Broker instructions
Broker will register as a Broker at PaySAFEescrow.com. An email will be automatically sent to the email address you provided upon completion of your registration. All correspondence within the Site will be directed to this email address. Upon completion of your registration, Brokers can create a new Transaction, log onto the Site anytime 24/7 to check their Transaction status, availability of the escrowed funds and enter comments to their customers through the Site. All payments from the Escrowed Funds will be credited to the Broker account using methods as agreed by Accruit LLC and the Broker. The Broker will initiate a Transaction by providing Buyer and Seller email addresses and shall create the details of the Transaction that Buyer and Seller will be asked to agree to. Once the Buyer and Seller agree to the Transaction, including the agreement to the Brokers commission, the Buyer will be prompted to send payment to us. After we secure and verify funds, we will instruct the Seller to transfer the goods or services to the Buyer. Once the Buyer has accepted the release of Escrow funds, we will disburse funds to the Seller and the Broker per the Transaction details. In the event of a cancellation after funds are received, or rejection of goods or services, the Broker will not receive the commission.
7. Escrow Deposit, Disbursement and Charges
An Escrow Account can be opened by one the following methods: Wire Transfer, electronic Check or Bank Check. Your Transaction ID assigned by us must accompany the Escrow Account deposit. Funds are placed in a FDIC insured commercial bank account. Wire fees or other third party bank fees are the responsibility of the individual initiating the transfer, i.e.: the Buyer or Seller. For all funds deposited into an Escrow Account with us, we shall charge a one-time fee (“Escrow Fee”) per each deposit. The escrow fee is determined to be earned once the transaction has been activated. The remaining funds after the subtraction of the Escrow fee will be available for release to the seller or refunded to the buyer. Escrow fees are determined by us at our discretion and are posted on the website. Escrow Fees are subject to change without notice. Users acknowledge that the maintenance of such escrow trust accounts may result in us or any of our affiliates being provided with certain bank services, accommodations or other benefits by the bank. All such services, accommodations and other benefits shall accrue to Accruit LLC affiliates, and our affiliates shall have no obligation to account to Users (or any other party to any escrow) created hereunder for the value of such services, accommodations or other benefits.
8. Escrow Process
All payment requests will be processed as soon as possible, usually within two Business Days. We cannot be responsible for delays caused by any outside influence such as postal delays, financial institution delays, terrorism, Dispute Resolution acts of God or any other form of delay outside of our control.
10. Dispute Resolution
In the event a dispute arises related to the Transaction and/or the release of Escrowed Funds and the Users are unable to mutually resolve the dispute, Users hereby agree to resolve their dispute by initiating what shall be referred to as the ”Dispute Process”. The party initiating the Dispute Process must promptly notify us and the other party of demand for dispute resolution via email through our Site. This shall be referred to as “Dispute Commencement.” THE USERS HEREBY AGREE TO SUBMIT TO BINDING ARBITRATION If the other party does not respond to the Dispute Commencement to us within 30 days, we may cancel the transaction and release the escrowed funds. Upon proper notice of Dispute Commencement, we will monitor the Dispute Resolution process at the equally shared expense of the Users, and may place the Escrowed Funds with a court of competent jurisdiction at any time and interplead the parties involved in the dispute, or transfer the Escrowed Funds to an interest-bearing account until the parties agree in writing or a final Arbitration award or judicial decision on the dispute has been rendered. We will abide by the final resolution mutually reached by the parties, or by the binding decision or order rendered by the arbitrator or court, and allocate the Escrowed Funds accordingly. It is the responsibility of the prevailing party to notify us of the final agreement, award or decision and to provide supporting documents for verification purposes. Any costs or fees incurred during the Dispute Resolution process are the responsibility of the Users. We shall not be liable for any costs associated with the Dispute Resolution process. An alternative method of settlement between parties may be substituted for the above if agreed upon by both parties and submitted in writing to Accruit, LLC 1331 17th St Suite 1250, Denver, CO 80202.
11. Liability of PaySAFE®
Accruit, LLC shall not have any duty or obligation to collect any funds and shall not be responsible for the defaults of any Users. By agreeing to use the Site’s Services, Users jointly and severally agree to hold us harmless as to any liability or damages incurred by us to any other person or corporation by reason of our acceptance of Escrowed Funds, and to reimburse us for all expenses, including but not limited to, attorneys’ fees and court costs incurred in connection herewith.
12. Governing Law
These Escrow Instructions governing use of our Site or Services shall be governed by and interpreted in accordance with the laws of the State of Colorado.
If for any reason a provision set forth herein is held to be invalid or unenforceable, the remaining provisions will continue in full force.
14. Access and Notification
If for any reason you are unable to gain access to the PaySAFEescrow.com website, then you must notify Accruit, LLC by mail To: Accruit, LLC, 1331 17th Street, Suite 1250, Denver, Colorado 80202 or by phone at 877.638.1518.