Escrow Payment Policy
Effective Date: March 28, 2025
Last Updated: March 28, 2025
1. Purpose
This Escrow Payment Policy outlines how payments for transactions are processed and managed between buyers and licensed sellers using Escrow.com. Seller licenses, advertising licenses, and affiliate licenses, processed via PayPal and retained by the Marketplace as unearned income under SSDI guidelines until withdrawn, are governed by the Marketplace Licensing Policy and Affiliate Licensing Policy. Our goal is to ensure secure, transparent, and fair transactions while maintaining an automated system with minimal involvement from the Marketplace operator (referred to as “we,” “us,” or “the Marketplace”).
2. Escrow Process
- Initiation: When a buyer purchases an item or service, funds are transferred to Escrow.com and held securely until the transaction is completed.
- Holding Period: Funds remain in escrow and are not accessible to the seller or the Marketplace until specific conditions are met (see Section 3).
- Third-Party Management: Escrow.com, an independent service, manages all funds. The Marketplace does not handle or control these funds directly.
3. Conditions for Fund Release
- Completion Criteria: Funds are released from escrow to the seller when:
- The buyer confirms receipt and satisfaction with the product or service, or
- The inspection period (default: 7 days from delivery) expires without a dispute being filed by the buyer.
- Automation: The release process is triggered automatically upon buyer confirmation or expiration of the inspection period, as facilitated by Escrow.com’s integration with our system.
- Marketplace Commission: Upon release of funds to the seller, the Marketplace’s commission (as outlined in the Marketplace Commission Policy) is simultaneously allocated.
4. Inspection Period
- Duration: Buyers have 7 days from the date of delivery to inspect the item and confirm satisfaction, unless otherwise agreed upon during the transaction setup.
- Extension: Buyers and sellers may mutually agree to extend the inspection period via Escrow.com prior to its expiration. The Marketplace does not initiate or mediate such extensions.
- Confirmation: Buyers must notify Escrow.com directly to approve or reject the transaction within this period.
5. Refunds and Cancellations
- Pre-Release: If a transaction is canceled or the buyer rejects the item during the inspection period, funds remain in escrow and are returned to the buyer, minus any applicable Escrow.com fees. No commissions are earned by the Marketplace in such cases.
- Post-Release: Once funds are released to the seller, refunds are handled directly between the buyer and seller per the Refund and Return Policy. The Marketplace is not responsible for facilitating post-release refunds.
- Non-Delivery: If the seller fails to deliver the item as agreed, Escrow.com retains the funds and returns them to the buyer upon verification, subject to its dispute process.
6. Dispute Resolution
- Buyer/Seller Responsibility: Disputes over transaction terms (e.g., item condition, delivery) must be resolved directly between the buyer and seller through Escrow.com’s dispute resolution process.
- Marketplace Role: The Marketplace does not mediate disputes unless escalated as a last resort. Our involvement is limited to providing transaction records if requested by Escrow.com.
- Hold on Funds: During a dispute, funds remain in escrow until resolved, ensuring they are unearned by the seller or Marketplace.
7. Fees
- Escrow Fees: Escrow.com charges fees for its service, agreed upon by the buyer and seller during transaction setup. The Marketplace does not determine or collect these fees.
- Royalty Tie-In: The Marketplace’s royalties are deducted from escrow funds upon release to the seller but remain unearned personal income under SSDI guidelines until withdrawn, as per the Marketplace Licensing Policy.
- License Fees: Fees for seller licenses ($9.99/month) and advertising licenses are paid separately via PayPal, remain unearned until their services are fulfilled, and are retained by the Marketplace as unearned personal income until withdrawn (see Marketplace Licensing Policy).
8. Role of the Marketplace
- Facilitation Only: The Marketplace integrates Escrow.com to enable secure payments but does not manage or access escrow funds directly.
- Automation: Payment processing and fund release are handled by Escrow.com and our integrated system, requiring minimal active intervention from the Marketplace operator.
- Support: Questions about escrow transactions should be directed to Escrow.com’s support team. The Marketplace provides assistance only for platform-related issues.
9. Compliance and Transparency
- Records: Transaction details, including escrow status, are logged within our system and accessible to buyers and sellers via their dashboards.
- Income Recognition: Funds in escrow are considered unearned by the seller and Marketplace until released, aligning with standard accounting practices.
10. Policy Enforcement
- Agreement: By using the Marketplace, buyers and sellers agree to this Escrow Payment Policy and Escrow.com’s terms of service as part of the transaction process.
- Updates: We reserve the right to update this policy at our discretion. Changes will be communicated to users via email or a notice on the platform, with an updated effective date.
11. Contact
For questions about this policy or platform-related issues, please contact us at support@tinkertrend.com. For escrow-specific inquiries, contact Escrow.com directly at Help Desk – Escrow.com.
