Terms of Using the Escrow Platform
These Terms of Using the Escrow Platform ("Terms of Using the Escrow Platform" or "Agreement") shall serve as an agreement that sets forth the terms and conditions which will govern your use and participation in the transaction management and escrow services provided on and through escrowpayltd.com (the "Services"). By selecting to utilize the Services you shall have also indicated your acceptance of these Terms of Using the Escrow Platform and your intent and agreement to be bound by them. If you are unwilling to agree to these Terms of Using the Escrow Platform, you shall discontinue further use of the Services. If you agree to these Terms of Using the Escrow Platform, you will be bound as follows:
- Definitions - "Account" means (i) an account of a Buyer from which payment for the Transaction and related fees will be obtained, (ii) an account of a Seller to which payment for the Transaction and other payments will be credited, or (iii) an account of a Broker to which payment for the Transaction and other payments will be credited and/or related fees will be obtained. "Agreement" refers to this Agreement, the then current operating rules contained on the Site and the Transaction Escrow Instructions. "Transaction Detail Screens" means those screens on the Site where Users provide all requested information in connection with a Transaction. "Escrow Instructions" or "General Instructions" means the document on the Site that contains the terms agreed upon on the Transaction Detail Screens, as well as the other terms and conditions of the escrow transaction including these Terms of Using the Escrow Platform. "User" means Buyer(s), Seller(s), and Broker(s) participating in a Transaction. "Site" refers to the website for the Services which can be found at www.escrowpayltd.com. Capitalized terms not defined herein shall have the same meaning as set forth in the General Escrow Instructions.
- Description of the Service - The Services are Internet-based transaction management services performed by escrowpayltd.com and escrow services provided by Internet Escrow Services, Inc., a California corporation “IES,” acts as escrow agent in a Transaction, which Services are intended to facilitate the completion of the underlying transaction under the terms of this Agreement, the Site and the applicable Transaction Escrow Instructions.
- Limits on the Services - The Services are only available for lawful items and items not otherwise excluded by Section 4 below. Limitations on the Services may apply and can be found on the Site or in the General Escrow Instructions or Transaction Escrow Instructions. Only registered Users may use the Services. In order to register, you must supply all information required on the Site. Applicable state or federal laws and regulations may further limit the Services.
- Rejection of Payment - Since the use of a bank account, credit card or debit card account, or the making of an electronic funds transfer may be limited by your agreement with your financial institution and/or by applicable law, escrowpayltd.com is not liable to any User if escrowpayltd.com does not complete a Transaction as a result of any such limit, or if a financial institution fails to honor any credit or debit to or from an Account. escrowpayltd.com may post operating rules related to payment on the Site and change such rules from time to time.