ELEXBIG ESCROW POLICY

Last Updated: June 2026

1. Purpose

The purpose of this Escrow Policy is to protect both Customers and Vendors by ensuring that payments made through the ELEXBIG Marketplace are securely held until eligible transactions have been successfully completed.

This Policy governs the collection, holding, release, withholding, and refund of funds processed through the ELEXBIG Marketplace.

2. Escrow Service Overview

ELEXBIG operates a secure escrow-based payment system.

Under this system:

• Customers pay for products at checkout.
• Payments are securely held by ELEXBIG or its authorized payment partners.
• Vendors do not receive payment immediately.
• Funds are released only after order completion conditions are met.

This system ensures trust, fraud prevention, and transaction safety.

3. Payment Collection

Upon successful checkout:

• Customer payment is collected and placed into escrow.
• The Vendor receives order notification.
• Order fulfillment begins according to Marketplace rules.

Funds remain in escrow until settlement conditions are satisfied.

4. Delivery Confirmation & 24-Hour Window

Once an order is marked as Delivered, a 24-hour confirmation window applies.

During this period:

• The Customer may inspect the product.
• The Customer may raise complaints, disputes, or return requests.
• ELEXBIG may review any reported issue.

If no dispute is raised within 24 hours of confirmed delivery, the order is deemed automatically accepted.

After automatic acceptance, the transaction proceeds to settlement processing.

5. Conditions for Release of Funds

Escrow funds may be released to the Vendor when:

• The order has been delivered.
• The 24-hour inspection window has expired without dispute.
• No active return, refund, or dispute is pending.
• No fraud or compliance review is ongoing.

ELEXBIG reserves the right to override release conditions in cases of suspected fraud or policy violations.

6. Settlement Period

Vendor settlements are processed after:

• Delivery confirmation; and
• Completion of the 24-hour inspection window.

ELEXBIG may adjust settlement timing based on:

• Product category
• Vendor performance history
• Risk assessment
• Return or dispute rates
• Compliance requirements

Settlement schedules may be updated or communicated via official ELEXBIG channels.

7. Order Cancellations

Where an order is cancelled before shipment:

• Funds are refunded to the Customer.
• No Vendor settlement is processed.

Where cancellation occurs after shipment:

• ELEXBIG will determine fund handling based on delivery status and policy review.

8. Returns and Refunds

Where a return is approved:

• Funds may be refunded partially or fully.
• Vendor settlement may be reversed or adjusted.
• Previously released funds may be recovered from future payouts where applicable.

9. Disputed Transactions

If a dispute is raised within the 24-hour window:

• Funds remain in escrow.
• Settlement is paused.
• ELEXBIG will investigate the issue.

Resolution will be based on evidence, delivery records, and Marketplace policies.

10. Fraud Prevention & Holds

ELEXBIG may delay or withhold funds where there is suspicion of:

• Fraudulent activity
• Counterfeit goods
• Policy violations
• Chargeback risk
• Identity or payment irregularities

Funds may remain on hold until investigations are completed.

11. Chargebacks

Where a chargeback occurs:

• ELEXBIG may reverse or withhold settlements.
• Vendors are responsible for supporting investigations.
• ELEXBIG may recover funds from future earnings.

12. Vendor Responsibilities

Vendors must:

• Fulfill orders accurately and on time.
• Ensure product quality matches listings.
• Respond promptly to disputes.
• Comply with all ELEXBIG policies.

Failure to comply may delay or prevent settlement.

13. Customer Responsibilities

Customers must:

• Provide accurate delivery information.
• Inspect goods within the 24-hour window.
• Report issues promptly and honestly.
• Avoid fraudulent claims or abuse of refund processes.

14. Settlement Suspension

ELEXBIG may suspend or delay settlements where:

• Policy violations occur.
• Fraud is suspected.
• Disputes are unresolved.
• Regulatory or legal concerns arise.

15. Regulatory Compliance

ELEXBIG may comply with legal or regulatory requests requiring:

• Fund freezes
• Information disclosure
• Transaction reviews
• Account restrictions

16. Limitation of Liability

ELEXBIG is not a bank or financial institution.

Escrow services are provided solely as a transaction facilitation mechanism within the Marketplace.

ELEXBIG is not liable for indirect or consequential losses arising from escrow processing.

17. Contact Information

ELEXBIG Escrow Support

Email: escrow@elexbig.com

Website: www.elexbig.com

Business Hours:
Monday – Friday
8:00 AM – 6:00 PM (WAT)

18. Acceptance of Policy

By using ELEXBIG Marketplace, users agree to this Escrow Policy, including the 24-hour inspection and acceptance window.

Continued use of the platform constitutes acceptance of all updates to this Policy.