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Terms

Effective Date: 18th December 2025
Welcome to Pescrow. These Terms and Conditions (“Terms”) govern your access to and use of the Pescrow platform, website, and services. By creating an account or using our services, you agree to be legally bound by these Terms.

1. Definitions

  • “Pescrow” refers to the escrow service platform facilitating secure transactions between parties.
  • “Buyer” refers to any user who deposits funds for goods or services.
  • “Seller/Freelancer/Service Provider” refers to any user offering goods or services.
  • “Transaction” refers to any agreement between parties using Pescrow to hold and release funds.
  • “Escrow Account” refers to the secure holding account where funds are temporarily stored until conditions are met.

2. Nature of the Service

Pescrow acts as a neutral third-party escrow facilitator. We do not act as a buyer, seller, employer, contractor, or agent for either party. Our responsibility is limited to securely holding funds and releasing them according to agreed transaction terms and our policies.

3. Account Registration and Verification

Users must:

  • Provide accurate and complete information.
  • Be legally capable of entering binding contracts.
  • Complete identity verification where required (KYC/AML compliance).

Pescrow reserves the right to suspend or terminate accounts providing false information or engaging in suspicious activity.

4. Escrow Process

  1. Buyer deposits agreed funds into Pescrow.
  2. Seller delivers goods/services as agreed.
  3. Buyer confirms satisfactory delivery.
  4. Funds are released to the Seller.

If no dispute is raised within the agreed review period, funds may be automatically released in accordance with platform rules.

5. Fees

Pescrow charges platform service fees for facilitating transactions. Fees are clearly communicated before transaction confirmation and may vary depending on payment method or transaction size.

All applicable taxes remain the responsibility of the respective users.

6. Payment Methods

Pescrow may support multiple payment methods including mobile money, bank cards, bank transfers, and digital assets where applicable. Users are responsible for ensuring payment details are accurate.

7. Dispute Resolution

Structured Dispute Process

If a disagreement arises, either party may initiate a dispute within the specified review period. Upon dispute:

  • Funds are temporarily frozen.
  • Both parties are required to submit evidence (contracts, communication records, proof of delivery, invoices, etc.).
  • A structured review process is conducted.

Role of the Legal & Compliance Team

Pescrow is supported by a competent legal and compliance team responsible for:

  • Reviewing transaction agreements and evidence submitted by both parties.
  • Interpreting contractual obligations under applicable laws.
  • Ensuring impartial, fair, and transparent resolution.
  • Making binding decisions regarding fund release based on documented proof and platform policies.

Decisions made after dispute review are final unless otherwise required by law.

8. Breach of Contract and Default

Users who:

  • Fail to deliver goods or services as agreed,
  • Attempt to defraud another party,
  • Submit falsified documentation,
  • Circumvent Pescrow to avoid fees,
  • Engage in unlawful or unethical activity,

may face the following consequences:

  • Immediate suspension or permanent account termination.
  • Forfeiture of disputed funds where evidence confirms wrongdoing.
  • Reporting to relevant financial institutions or regulatory authorities.
  • Legal action where applicable under governing law.

Pescrow reserves the right to cooperate fully with law enforcement and regulatory bodies in cases of fraud or criminal misconduct.

9. Prohibited Activities

Users may not use Pescrow for:

  • Illegal goods or services.
  • Money laundering or terrorist financing.
  • Fraudulent schemes or misrepresentation.
  • Transactions prohibited by local or international law.

Violation of this section will result in immediate action.

10. Limitation of Liability

Pescrow’s liability is limited to the amount of funds held in escrow for a given transaction. We are not responsible for indirect damages, lost profits, or consequential losses arising from disputes between users.

11. Compliance and Regulatory Cooperation

Pescrow complies with applicable financial regulations, anti-money laundering laws, and data protection requirements. We may request additional documentation where required to meet compliance obligations.

12. Privacy

Use of Pescrow is also governed by our Privacy Policy, which explains how we collect, store, and process personal data.

13. Amendments

Pescrow reserves the right to update or modify these Terms at any time. Continued use of the platform after updates constitutes acceptance of the revised Terms.

14. Governing Law

These Terms shall be governed by and interpreted in accordance with the applicable laws of the jurisdiction in which Pescrow operates, unless otherwise required by mandatory consumer protection laws.

15. Contact Information

For legal inquiries, disputes, or compliance concerns, users may contact Pescrow through our official support channels: support@pescrow.io or pescrows@gmail.com

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Who we are

Our website address is: https://pescrow.io.

Effective Date: 18th December 2025

Pescrow is committed to protecting your privacy and safeguarding your personal data. This Privacy Policy explains how we collect, use, store, share, and protect your information when you use our platform and services.

By accessing or using Pescrow, you agree to the practices described in this Policy.

1. Information We Collect

We collect personal data necessary to provide secure escrow services and comply with legal obligations.

a. Information You Provide

  • Full name
  • Email address
  • Phone number
  • Government-issued identification (for verification)
  • Payment details (mobile money, bank card, crypto wallet information)
  • Transaction details and communications between parties

b. Information Collected Automatically

  • IP address
  • Device information
  • Browser type
  • Usage data and activity logs
  • Cookies and tracking technologies

c. Compliance Information

To comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, we may collect additional documentation where required.

2. How We Use Your Information

We process personal data for the following purposes:

  • To create and manage user accounts
  • To facilitate and secure escrow transactions
  • To verify identity and prevent fraud
  • To comply with legal and regulatory obligations
  • To improve platform functionality and user experience
  • To resolve disputes and enforce contracts
  • To communicate important updates and service notifications

We do not sell personal data to third parties.

3. Legal Basis for Processing

We process your information based on:

  • Your consent
  • Performance of a contract (escrow transactions)
  • Compliance with legal obligations
  • Legitimate interests in preventing fraud and maintaining platform security

4. Data Sharing and Disclosure

We may share your information only when necessary:

  • With financial institutions or payment processors to complete transactions
  • With regulatory authorities where legally required
  • With law enforcement agencies in cases of suspected fraud or criminal activity
  • With our legal and compliance team for dispute resolution
  • With trusted service providers under strict confidentiality agreements

All third parties are required to handle data securely and in accordance with applicable data protection laws.

5. Data Storage and Security

Pescrow implements strong technical and organizational security measures to protect personal data, including:

  • Encrypted data transmission (SSL/TLS)
  • Secure servers and access controls
  • Regular security audits
  • Fraud detection systems

Access to sensitive data is restricted to authorized personnel only.

6. Data Retention

We retain personal data only for as long as necessary to:

  • Fulfill transaction obligations
  • Comply with legal, tax, and regulatory requirements
  • Resolve disputes and enforce agreements

After the retention period, data is securely deleted or anonymized.

7. Your Rights

Depending on applicable law, you may have the right to:

  • Access your personal data
  • Correct inaccurate information
  • Request deletion of your data (subject to legal obligations)
  • Object to certain data processing activities
  • Withdraw consent where processing is based on consent

Requests may be submitted through our official support channels.

8. Cookies and Tracking Technologies

We use cookies to enhance user experience, analyze website performance, and maintain security. You may manage cookie preferences through your browser settings. For more details, please refer to our Cookie Policy.

9. Cross-Border Data Transfers

If Pescrow operates across multiple jurisdictions, your data may be transferred and processed in countries outside your residence. We ensure appropriate safeguards are in place to protect your data.

10. Children’s Privacy

Pescrow services are not intended for individuals under the legal age to enter binding contracts. We do not knowingly collect data from minors.

11. Updates to This Policy

We may update this Privacy Policy periodically. Changes will be posted on this page with a revised effective date. Continued use of the platform constitutes acceptance of any updates.

12. Contact Us

If you have questions about this Privacy Policy or how your data is handled, please contact us through our official support or compliance channels: support@pescrow.io or pescrows@gmail.com

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