Welcome to JPM Escrow Service. These Terms of Service ("Terms") govern your access to and use of our escrow platform, website, mobile applications, and all related services (collectively, the "Service"). By accessing or using our Service, you agree to be bound by these Terms and our Privacy Policy. If you do not agree to these Terms, do not use the Service.
1. Description of Service
JPM Escrow Service acts as a neutral third party to hold funds and/or assets in an escrow account on behalf of a buyer and a seller ("Users"). The Service ensures that funds are securely held until all agreed-upon conditions of a transaction are met by both parties. The Service includes, but is not limited to, the secure holding of funds, identity verification, and dispute resolution.
2. User Responsibilities
You agree to use the Service in accordance with all applicable laws and regulations and these Terms. You are responsible for:
Providing accurate, complete, and truthful information during registration and for all transactions.
Maintaining the confidentiality of your account credentials and being responsible for all activities under your account.
Complying with the terms of the specific transaction agreement you enter into with the other party.
Not using the Service for any fraudulent, illegal, or unauthorized purposes.
Promptly responding to requests for information or actions from JPM Escrow Service to facilitate transactions.
3. Escrow Process
Initiating a Transaction: A transaction is initiated when a buyer and seller agree to the terms of a deal and choose to use JPM Escrow Service. All transaction details, including payment amount, release conditions, and delivery information, must be clearly outlined and agreed upon by both parties.
Deposit of Funds: The buyer deposits the agreed-upon funds into the secure JPM Escrow Service account. The Service will hold these funds until the release conditions are met. Funds are not released to the seller until both parties confirm that the transaction is complete, or according to the agreed-upon terms.
Inspection and Acceptance: The buyer has a predetermined inspection period to examine the item or service. If satisfied, they confirm acceptance, and the funds are released to the seller.
Release of Funds: Funds are released to the seller only after the buyer provides confirmation of acceptance, or as otherwise explicitly stated in the transaction terms and conditions.
4. Fees and Payments
Our fees for the Service are disclosed on our website and may vary depending on the transaction type and amount. You agree to pay all fees associated with your use of the Service. JPM Escrow Service reserves the right to deduct applicable fees directly from the escrow account before disbursing funds. All fees are non-refundable.
5. Limitation of Our Role and Liability
JPM Escrow Service acts solely as a neutral escrow agent. We are not a party to the underlying transaction between the buyer and the seller. We are not responsible for the quality, legality, or safety of the goods or services exchanged. Our liability is limited to the faithful performance of our duties as an escrow agent, as expressly outlined in these Terms. We will not be liable for any losses, damages, or claims arising from the transaction itself, or for any actions or inactions of the buyer or seller. Our liability is capped at the amount of the escrow fees we received for the specific transaction.
6. Dispute Resolution
In the event of a dispute between the buyer and seller, both parties must first attempt to resolve the issue directly. If a resolution cannot be reached, you may submit the dispute to JPM Escrow Service. We will review the provided documentation and communications to mediate a resolution. If we cannot reach a fair resolution, we may, at our sole discretion, release the funds to the party we determine is entitled to them, or we may submit the dispute to a binding arbitration service. You agree to be bound by our decision or the decision of the arbitrator.
7. Termination of Service
We may terminate or suspend your access to the Service immediately, without prior notice or liability, for any reason, including if you breach these Terms. Upon termination, your right to use the Service will cease. All provisions of these Terms which, by their nature, should survive termination shall survive, including, without limitation, ownership provisions, warranty disclaimers, indemnity, and limitations of liability.
8. Intellectual Property
All intellectual property rights, including but not limited to copyrights, trademarks, and logos, in the Service and its content are owned by or licensed to JPM Escrow Service. You are granted a limited, non-exclusive, non-transferable license to access and use the Service for its intended purpose.
9. Indemnification
You agree to indemnify, defend, and hold harmless JPM Escrow Service and its affiliates, officers, directors, employees, and agents from and against any and all claims, damages, obligations, losses, liabilities, costs, or debt, and expenses (including but not limited to attorney's fees) arising from:
Your use of and access to the Service.
Your violation of any term of these Terms.
Your violation of any third-party right, including without limitation any copyright, property, or privacy right.
10. Governing Law and Jurisdiction
These Terms shall be governed and construed in accordance with the laws of [Your Jurisdiction], without regard to its conflict of law provisions. You agree to submit to the exclusive jurisdiction of the courts located in [Your Jurisdiction] to resolve any legal matter arising from these Terms.
11. Changes to Terms
We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material, we will provide at least 30 days' notice prior to any new terms taking effect. By continuing to access or use our Service after those revisions become effective, you agree to be bound by the revised terms.