Terms of Use

1. Introduction

Welcome to Sentinel Escrow Limited ("Company," "we," "us," or "our"). These Terms of Use ("Terms") govern your use of our escrow services ("Services") via our website, mobile app, or other platforms. By using our Services, you agree to these Terms. If you disagree, do not use our Services.

2. Definitions

• “Claim”: a formal complaint made regarding an escrowed transaction
• “KYC”: Know Your Customer verification process
• “Platform”: any tech channel we operate (web, App, Etc.)
• "Escrow Account": A secure holding account where funds are deposited pending transaction completion.
• "Parties": The Buyer, Seller, and Escrow Agent (Company).
• "Transaction": The agreement facilitated through our escrow services.
• “NDPA”: Nigeria Data Protection Act 2023.
• “GDPR”: General Data Protection Regulation.

3. Eligibility

• Be 18+ years old.
• Provide accurate KYC details (e.g., BVN, ID, proof of address).
• Not be barred under Nigerian financial regulations or any similar law’s restriction.

Note: We reserve the right to reject or suspend your access to our services at any time, particularly where your identity, eligibility, or transactional behavior raises compliance or security concerns.

4. Escrow Process

• 4.1. Agreement: Buyer and Seller agree on terms (e.g., price, product, delivery timeline).
• 4.2. Deposit: Buyer pays into the Escrow Account.
• 4.3. Verification: We confirm funds and notify Seller.
• 4.4. Fulfillment: Seller delivers goods/services; Buyer inspects.
• 4.5. Release: Funds are released to Seller upon Buyer’s approval or refunded if terms are unmet, or held temporarily if disputes arise (e.g., suspected fraud) until investigation is completed.

We facilitate payment in online transactions using the details entered by either party. The agreement summary governs our mediation and dispute process.

Note: We do not negotiate transaction terms like price or product quality.

5. Refund Policy

• a. Funds are refunded to the buyer if the terms of the transaction are not met and both parties agree on the failure to fulfill the terms.
• b. In cases where the parties disagree on whether the terms of the transaction have been met, the provisions of sections 4 (escrow process) and 7 (dispute resolution) will apply with respect to the disputes, while section 6 (fees) will apply regarding the refund fee.
• c. Where there occurs an act that qualifies as a force majeure — e.g. natural disaster, internet shutdown, war, or other such events — we shall be excluded from strict performance or non-performance of the escrow services.

6. Fees

• Service Fee: 3% of transaction value (capped at ₦10,000 meaning our service fee will never be above ₦10,000). Notice of review of fee will be sent to our customers.
• Dispute Fee: ₦1000 if mediation by Escrow (MBE) is required.
• Refund Fee: 1% of transaction value (if applicable).

7. Dispute Resolution

• Mediation between parties (MBP): Buyer and Seller have 10 days to resolve their dispute.
• After 10 days of failure to resolve dispute in mediation between parties, either party can open a claim.
• Mediation by Escrow (MBE): any of the parties may open a claim after failure of MBP, we will mediate dispute for up to 10 days from the claim date. In exceptional circumstances, such as suspected fraud or large transaction amounts (above $500 or its Naira equivalent using official market exchange rate), mediation may extend up to 90 days.
• Our decision in MBE is final unless challenged in arbitration.
• We shall hold escrow money during disputes until dispute is resolved.
• If after 30 days from opening of claim the dispute is not resolved, we may return funds to source.
• In very exceptional cases involving more than $500, a 90-day period shall be allowed from opening of claim in MBE for dispute to be resolved.
• Arbitration: Unresolved disputes go to arbitration under the Arbitration and Mediation Act (Nigeria) before any other external dispute resolution mechanism.
• Court Jurisdiction: Lagos State High Court (if arbitration fails).

8. Data Privacy (NDPA Compliance summary)

• We collect names, contact details, transaction history, and KYC data.
• Data is used for escrow services and legal compliance.
• Users have rights to access, correct, or delete data under the NDPA.
• Data may be shared with regulators (e.g., CBN, EFCC) if required by law.

See full Privacy Policy at sentinelescrow.com/privacy-policy for comprehensive data protection terms. Our privacy policy is designed to comply with NDPA and where applicable GDPR requirement.

9. Prohibited Activities

You may not use our services for any unlawful or unauthorized purpose including but not limited to:

9.1. Illegal trade or practices:

• Use our Services for fraud, money laundering, or illegal trades.
• Provide false or misleading KYC information.
• Disrupt our platform’s security or operations.
• Sale or delivery of pornography, prostitution, escorting, or other adult-related services or obscene content
• Sales or distribution of illegal drugs, controlled substances, drug paraphernalia, or substances designed to mimic illegal drugs.
• Marijuana dispensaries or online pharmacies without legal compliance.

9.2. Violent/deceptive items,

• Sale, promotion, or distribution of weapons, munitions, explosives, or services that promote violence or harm.
• Items associated with terroristic organizations or illegal operations.
• Sale of deceptive and predatory Services/items or objects in multi-level marketing (MLM), pyramid schemes, deceptive or predatory marketing services.

9.3. Infringements

• Copyright and IP Infringement: Products or services that infringe on third-party copyrights, trademarks, trade secrets, or intellectual property rights.

9.4. Harmful substances/ Software

• Age-Restricted Services: Sale or promotion of age-restricted goods or services, including tobacco, alcohol, or e-cigarettes without legal compliance.
• Unethical Technology Use: Sale or installation of spyware, malware, viruses, or any unauthorized software or program designed to compromise user systems.

9.5. Unverifiable services

• Esoteric and Undefined Services: Services such as astrology, psychic readings, or other undefined, vague, or non-verifiable services.

10. Account Suspension and Reactivation Policy

When an account is suspended, the following steps can be taken to reactivate it:

• a. Report to our Customer Support department
• b. The Customer Support Department reviews the report/complaint.
• c. Within 10 days of the report a preliminary feedback will be given.
• d. Reactivation will depend on some factors including the reason for suspension of account and regulatory directives from competent authorities.

11. Users Responsibilities

• Maintaining secure passwords
• Verifying transaction details
• Maintaining device security
• Following security best practices
• We make use of third-party services like payment processors and information verification services; however, you are responsible for the safety of your personal information on those third party’s platforms.

Note: you are solely responsible for ensuring that the information you provide is accurate and up to date. You agree not to share your account login details with others.

12. Limitation of Liability

We are not liable for:

• The quality of goods/services (we only facilitate trade payments).
• Losses due to Buyer/Seller breach.
• Technical failures beyond our control.
• Maximum liability is limited to the escrowed amount.
• To the maximum extent permitted by law, we shall not be liable for indirect, incidental, special, punitive or consequential damages.

13. Termination

We may suspend/terminate accounts for:

• Fraudulent activity.
• Violation of these Terms.
• Regulatory or legal breaches or when mandated by competent authorities.
• We reserve the right to terminate your access immediately without prior notice if your use poses a risk to other users or violate our terms.

14. Penalties for Prohibited Activities

We reserve the right to take appropriate measures against users involved in prohibited activities, including but not limited to account suspension, fund freezes, and reporting to legal authorities. Violations of these prohibited activities and uses may result in:

• Immediate suspension or termination of the user’s account.
• Forfeiture of escrowed funds if fraud is confirmed.
• Reporting to relevant regulatory authorities for further action.
• Legal action, including but not limited to claims for damages and penalties.
• Funds may be withheld indefinitely where required by regulators or while investigations are ongoing.

15. Governing Law

These Terms are governed by Nigerian laws, including but not limited to:

• The Constitution of the Federal Republic of Nigeria
• NDPA 2023 (data protection).
• CBN Guidelines on Electronic Payments.
• EFCC Act (for anti-fraud).

All actions, suits or proceeding shall be instituted in Lagos courts or arbitration panel.

16. Amendments

We may amend these Terms at any time. Any such changes will be effective once posted on our platforms. Your continued use of our services following any changes constitutes your acceptance of the revised terms.

17. Acceptance

By using our Services, you confirm you have read, understood, and agreed to these Terms.

Contact Us

Email: Support@sentinelescrow.com