Escrow Terms & Conditions
Escrow Terms & Conditions
These Escrow Terms govern the optional escrow payment service ("Nefxi Escrow") offered on the Nefxi marketplace platform. By using Nefxi Escrow, both buyers and sellers agree to these terms.
1. What is Nefxi Escrow?
Nefxi Escrow is a secure payment intermediary service. When a buyer initiates an escrow transaction: • The buyer's funds are held securely by Nefxi until the transaction conditions are met • The seller ships or delivers the item • Upon buyer confirmation of receipt and satisfaction, funds are released to the seller This service protects both parties from fraud and ensures a fair resolution process.
2. Eligible Transactions
Nefxi Escrow is available for: • Physical goods listed on the Nefxi marketplace • High-value items as determined by Nefxi (typically KES 5,000 and above) • Categories specified as "Escrow Recommended" on the platform Escrow is not available for digital goods, services, or prohibited items.
3. How the Escrow Process Works
Step 1 — Initiation: Buyer selects "Pay with Escrow" and funds are deducted from the buyer's chosen payment method. Step 2 — Seller Notification: Seller is notified that funds are secured and must fulfil the order within the agreed timeframe. Step 3 — Delivery: Seller ships the item with a valid tracking number and notifies Nefxi. Step 4 — Inspection Period: Buyer has 3 business days upon delivery to inspect the item and either confirm receipt or raise a dispute. Step 5 — Release or Dispute: If the buyer confirms receipt, funds are released to the seller within 24 hours. If the buyer raises a dispute, the Nefxi Escrow resolution team investigates.
4. Escrow Fees
The following fees apply to Nefxi Escrow transactions: • Transactions up to KES 10,000: 2.5% of transaction value • Transactions KES 10,001 – KES 50,000: 2.0% of transaction value • Transactions above KES 50,000: 1.5% of transaction value Escrow fees are non-refundable once a transaction is initiated. Fees are borne by the buyer unless otherwise agreed between the parties.
5. Dispute Resolution
If a buyer raises a dispute during the inspection period: • Nefxi's Escrow Resolution Team will review evidence from both parties • Both parties must respond within 48 hours of being contacted • Resolution will be made within 5 business days • Nefxi's decision is final but subject to appeal within 7 days Grounds for buyer dispute include: item not received, item significantly not as described, or item damaged in transit.
6. Refunds
Funds will be refunded to the buyer if: • The seller fails to ship within the agreed timeframe • A dispute is resolved in the buyer's favour • The transaction is cancelled by mutual agreement before shipment Refunds are processed within 3–5 business days to the original payment method.
7. Seller Obligations
Sellers using Nefxi Escrow must: • Ship items within the stated handling time • Provide valid tracking information • Ensure items match the listing description • Package items adequately to prevent transit damage • Respond promptly to any Nefxi Escrow enquiries
8. Prohibited Use
The Nefxi Escrow service may not be used for: • Illegal goods or services • Money laundering or financial fraud • Transactions outside the Nefxi platform Misuse will result in immediate account suspension and referral to law enforcement where appropriate.
9. Limitation of Liability
Nefxi acts solely as an escrow agent and is not a party to the underlying sale. Nefxi's liability is limited to the escrow amount held. Nefxi is not liable for any indirect or consequential losses arising from the transaction.
10. Contact
For escrow-related enquiries: [email protected] Response time: within 1 business day.
