Terms of service

CSCROW PTE LTD Terms of Service

Effective Date: 3rd September 2023

1. Introduction

Welcome to CSCROW Escrow Service! Our platform provides a secure and decentralized escrow service for cryptocurrency transactions. By using our service, you agree to comply with these Terms of Service.

2. Contract Creation and Funding

2.1. To create an escrow contract, the sender must initiate the contract by sending funds to the wallet address of the receiver in a single transaction.

3. Acceptance and Completion

3.1. The receiver must accept the escrow contract to proceed.

3.2. Once the sender receives the service or goods, the receiver clicks "Complete Contract."

3.3. The sender must approve the contract if the transaction is satisfactory.

4. Dispute Resolution

4.1. In the event of a dispute:

4.1.1. Mutual Agreement: Parties may mutually agree to change the initial funds to be released, facilitating partial release.

4.1.2. No Mutual Agreement: If no mutual agreement is reached, both parties may submit proposed release amounts, proof, and reasoning for review by CSCROW DAO members for voting.

5. Pricing and Fees

5.1. We charge a 2% fee for our service, which is implemented only after Step 2 (Acceptance) is fulfilled.

5.2. If the sender cancels before Step 2 is fulfilled, no service fee is applied.

6. Disclaimer of Liability

6.1. CSCROW is not liable for any scams or fraudulent activities conducted by individual users. Users are solely responsible for their actions and transactions.

7. Irreversible Actions

7.1. Users acknowledge that once they release funds or provide commands to smart contracts, these actions are irreversible. CSCROW cannot intervene or reverse them.

8. Security Measures

8.1. CSCROW employs security measures to protect user data and transactions. However, no system can be completely immune to breaches. Users are encouraged to take their own precautions.

9. User Responsibilities

9.1. Users are responsible for safeguarding their accounts and sensitive information. Strong passwords and two-factor authentication are recommended. Users must report suspicious activities promptly.

9.2. CSCROW does not provide any insurance or coverage for losses, damages, or mishappenings that may occur while using our service. Users are responsible for assessing and mitigating their own risks when engaging in transactions through our platform.

10. Limitation of Liability

10.1. CSCROW's liability for any losses or damages incurred by users is limited to the extent allowed by applicable law.

11. Indemnification

11.1. Users agree to indemnify and hold CSCROW harmless from any claims, losses, or damages arising from their use of the service or interactions with other users.

12. Security Audits and Compliance

12.1. CSCROW undergoes regular security audits and complies with relevant industry standards to enhance security.

13. Governing Law and Jurisdiction

13.1. These Terms of Service are governed by the laws of Singapore. Any disputes shall be resolved in the courts of Singapore.

14. Updates to Terms

14.1. CSCROW reserves the right to update these Terms of Service. Users will be notified of changes, and continued use of the service constitutes acceptance of the updated terms.

15. Contact Us

15.1. For any questions or concerns, please contact us at info@cscrow.com

By using CSCROW Escrow Service, you acknowledge that you have read, understood, and agreed to these Terms of Service.