Escrow Terms

CypherX securely receives and holds payment from the buyer on behalf of both parties. Funds are not accessible to the vendor until all transaction conditions are met and remain protected against unauthorized withdrawal or misuse.

Purpose

• Eliminate payment risk for buyers.
• Ensure vendors are paid only after fulfilling obligations.
• Provide a trusted layer for online transactions.

Funds are released to the vendor only when the buyer confirms successful delivery or the automatic release window expires without dispute.

Release Conditions

• Order marked as delivered.
• No active dispute.
• Confirmation or timeout trigger reached.

System Integrity

• Release actions are logged and irreversible once completed.
• Both parties are notified of fund release.

CypherX facilitates dispute handling by holding funds securely during disputes, providing a structured process for evidence submission, and supporting fair resolution based on verified information.

Role Limitation

• CypherX does not act as a seller or buyer.
• CypherX only enforces transaction terms and escrow rules.

Vendor generates an escrow invoice via the platform.

Invoice Includes

• Product details.
• Price.
• Buyer phone number (unique identifier).
• Delivery terms.

System Action

• Invoice status = PENDING_PAYMENT.
• Buyer is notified.

Buyer funds the invoice using the provided virtual account or payment method. Payment must match the exact invoice amount.

System Action

• Payment verified.
• Invoice status = PAID.

Funds are securely locked in escrow, and the vendor is notified to proceed with fulfillment.

Status

• Escrow = FUNDS_HELD.
• Order = CONFIRMED.

Vendor ships or delivers the product and updates order status accordingly.

System Action

• Order status = DELIVERED (once confirmed or logged).

Buyer inspects the product and confirms delivery via dashboard.

Outcome

• Funds released to vendor.
• Transaction closed.

Alternative Flow

• If buyer takes no action, auto-release applies.
• If issue arises, dispute is initiated.

Buyers may initiate disputes under valid conditions such as item not delivered, product significantly different from listing, or defective or counterfeit goods.

Funds Remain Locked in Escrow During Disputes

• All disputed funds are frozen in escrow.
• Vendor cannot access funds during investigation.
• Funds are released only after dispute resolution.

Protection Mechanism

• Prevents financial loss to either party.
• Ensures fair and unbiased resolution.

Resolution Outcomes

• Full refund to buyer.
• Partial refund.
• Full release to vendor.

Prohibited activities include:

• Fake orders or staged transactions.
• Intentional misrepresentation of goods or services.
• Attempting to exploit escrow for financial gain.

Transactions involving prohibited, illegal, or counterfeit goods are strictly forbidden. This includes stolen devices, fake gadgets, and restricted items.

Strictly prohibited activities include:

• Using escrow to move or disguise illicit funds.
• Structuring transactions to avoid detection.
• Third-party fund transfers unrelated to genuine transactions.

Enforcement

Violations may result in:

• Immediate account suspension.
• Fund freezing or reversal.
• Reporting to regulatory authorities.

Funds Release Conditions

Funds may be released under the following conditions:

• Buyer confirmation - buyer confirms product is satisfactory; immediate release to vendor.
• Automatic release window - triggered if buyer takes no action within defined period (e.g., 6 hours after delivery).
• Dispute resolution outcome - refund to buyer, payment to vendor, or partial split.

Notifications

All parties receive alerts before and after release.

Service Fees

CypherX may charge fees for:

• Escrow transaction processing.
• Payment handling.
• Value-added services.

Fee Characteristics

• Clearly disclosed before transaction.
• May be charged to buyer, vendor, or both.
• Non-refundable once transaction is completed.

Updates

Fees may be revised with notice to users.

CypherX Does Not Guarantee Vendor Performance

CypherX does not guarantee that vendors will:

• Deliver products.
• Deliver on time.
• Provide products free from defects.

Not Liable for Product or Delivery Issues

CypherX is not responsible for:

• Product quality or defects.
• Accuracy of vendor listings.
• Delivery delays or failures.
• Misrepresentation by vendors.

Role Clarification

• CypherX acts only as a payment intermediary.
• It does not own, inspect, or control listed products.

User Responsibility

Users agree that:

• Transactions are conducted at their own risk.
• Due diligence is required before engaging in transactions.

Liability Limitation

To the fullest extent permitted by law, CypherX's liability is limited to the amount held in escrow and CypherX is not liable for indirect, incidental, or consequential damages.

Force Majeure

CypherX is not liable for failures caused by:

• System outages.
• Network disruptions.
• Regulatory actions.
• Events beyond reasonable control.