1. Introduction: These terms and conditions (the “Agreement”) govern the use of the Gold Escrow Service (the “Service”) provided by [Escrow Company Name] (the “Escrow Agent”). By utilizing the Service, you agree to be bound by the terms and conditions set forth herein.
2. Escrow Account Setup: To initiate the escrow process, the buyer and seller must agree to use the Service and provide all necessary information for account setup. The Escrow Agent will verify the identities of the parties involved and establish the escrow account accordingly.
3. Deposit of Gold: The seller agrees to deposit the specified quantity of gold into the escrow account, meeting the purity and quality standards agreed upon by both parties. The buyer will be notified upon successful deposit of the gold into escrow.
4. Terms of Escrow: The escrow period shall commence upon confirmation of the gold deposit and shall continue for the duration specified in the escrow agreement. The Escrow Agent will hold the gold securely until the conditions of the agreement are met.
5. Payment Terms: Upon fulfillment of the conditions specified in the escrow agreement, the Escrow Agent will release the funds to the seller as per the agreed-upon payment terms. Payment shall be made in the currency specified in the agreement.
6. Dispute Resolution: In the event of a dispute between the buyer and seller, both parties agree to cooperate in good faith to resolve the matter. If a resolution cannot be reached, the Escrow Agent may, at its discretion, initiate mediation or arbitration proceedings.
7. Fees and Expenses: The parties involved shall be responsible for covering any fees and expenses associated with the use of the Service, including but not limited to escrow fees and transaction costs.
8. Release of Funds: The Escrow Agent will release the funds to the seller upon receipt of confirmation from the buyer that the gold has been received and verified in accordance with the terms of the agreement.
9. Limitation of Liability: The Escrow Agent shall not be liable for any damages, losses, or expenses incurred by the parties as a result of utilizing the Service, except in cases of willful misconduct or gross negligence on the part of the Escrow Agent.
10. Confidentiality: All information and details pertaining to the escrow transaction shall be kept confidential by the parties involved, except as required by law or with the express consent of all parties.
11. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of [Jurisdiction], without regard to its conflict of law principles.
12. Miscellaneous: Any modifications or amendments to this Agreement must be made in writing and signed by all parties involved. This Agreement constitutes the entire understanding between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral.
13. Signature: By using the Service, each party acknowledges that they have read, understood, and agreed to be bound by these terms and conditions.
Gold Escrow for Site By using the Gold Escrow Service on [Site Name], you acknowledge and agree to abide by the above Terms and Conditions set forth by the Escrow Agent. You further understand that [Site Name] acts solely as a platform for facilitating the Gold Escrow Service, and any disputes or issues arising from the use of this service should be resolved directly between the parties involved and the Escrow Agent. [Site Name] disclaims any liability for actions or omissions related to the Gold Escrow Service and advises users to review and understand the Terms and Conditions provided by the Escrow Agent before initiating any transactions.
