EECROW HOLDINGS LIMITED

TERMS OF BUSINESS

EECROW HOLDINGS LIMITED

TERMS OF BUSINESS

Introduction

Welcome to eecrow, a platform designed to facilitate secure and seamless transactions between Buyers and Sellers. By using our platform, you agree to comply with these Terms of Business, which govern all activities conducted through the platform.

Definition of Terms

2.1 Buyer

The party that initiates a transaction by engaging a Seller to perform services or deliver goods.

2.2 Seller

The party that agrees to perform services or deliver goods as specified in a contract created on the eecrow platform.

2.3 Contract

The legally binding agreement entered into by the Buyer and Seller, facilitated through eecrow.

2.4 Platform Fees

Fees charged by eecrow for facilitating transactions.

2.5 Arbitration

The process of resolving disputes under the rules outlined in Section 5.

Fees and Payments

3.1 Platform Fees

eecrow charges a 5% platform fee on the transaction value, which is deducted from the Seller’s payout. This fee is subject to a 5% VAT, making the total deduction 5.25% of the transaction value.

3.2 Payouts

Payouts to Sellers will be initiated upon the completion and approval of milestones by the Buyer. eecrow is not liable for any delays caused by third-party payment processors, banks, or other external factors.

3.3 Refund and Cancellations

Refunds to Buyers will only be processed upon the Seller’s approval. eecrow’s fees will be deducted from the refunded amount before it is returned to the Buyer.

Dispute Resolution

4.1 Arbitration Fee

eecrow charges a 5% platform fee on the transaction value, which is deducted from the Seller’s payout. This fee is subject to a 5% VAT, making the total deduction 5.25% of the transaction value.

4.2 Arbitration Process

To trigger arbitration, the Buyer or Seller must email info@eecrow.com with all relevant information regarding the dispute. The eecrow team will review the submission and initiate the formal arbitration process.

4.3 Default to DIFC

Should the outcome of the arbitration not be accepted by either party, eecrow will defer to the decision of the DIFC Small Claims Court. Any fees associated with this process will be borne by the Buyer and/or Seller.

4.4 Arbitration Rules

All arbitrations will be conducted under the Arbitration Rules of the DIFC-LCIA Arbitration Centre.

Governing Law and Disputes

This Agreement and any non-contractual obligations arising out of or in connection with this Agreement are governed by and construed in accordance with the laws of England and Wales. Any disputes arising from this Agreement shall be finally settled by arbitration under the Arbitration Rules of the DIFC-LCIA Arbitration Centre by a single arbitrator appointed in accordance with said rules. The seat of the arbitration shall be the Dubai International Financial Centre (DIFC).

Refunds and Cancellations

6.1 Refund Process

Refunds will only be processed with the express approval of the Seller. Evidence of mutual agreement between the Buyer and Seller must be provided to eecrow.

6.2 Deduction of Fees

eecrow’s platform fees and applicable taxes will be deducted from any refund amount returned to the Buyer.

6.3 Timing of Refunds

Refunds may take additional time depending on the payment method and third-party processors. eecrow is not liable for these delays.

6.4 Cancellation of Contracts

In the event of contract cancellation, eecrow will process refunds or payments based on milestone progress and mutual agreement. Payments for completed milestones are non-refundable unless otherwise agreed by both parties.

Multi-Currency Support

The platform currently supports transactions in AED, SAR, USD, EUR, and GBP. Conversion rates are determined by third-party payment processors and may vary.

Limitation of Liability

8.1

eecrow is a facilitator and does not guarantee the completion of services or payment beyond the terms specified in this document.

8.2

eecrow is not liable for any losses, delays, or disputes arising from third-party payment processors or external factors.

Amendments

9.1

eecrow reserves the right to amend these Terms of Business at any time. Users will be notified of significant changes via email or platform notifications.