Dispute Resolution Process (DRP)

What is it?

The Dispute Resolution Process is steps that AssetEscrowLimited takes to ensure fairness in the case a buyer and seller disagree in a transaction (disputed transaction).

A dipsuted transaction is eligible for the Dispute Resolution Process if a buyer or seller rejects it after it has been funded and refund is due to the buyer. The process works as follows:-

How does it work?

1. After the transaction has been rejected by either party:-
   • The buyer MUST package the product and return it to the seller within 7 days
   • The buyer MUST return the product to the seller at their own cost
   • The buyer MUST provide AssetEscrowLimited with proof of return
   • The buyer MUST take all steps to ensure the product is returned in the same condition they received it.
   • If the buyer fails to complete these steps within the provided Inspection Period, AssetEscrowLimited will assume the buyer has accepted the product and release the full amount to the seller.
2. After the buyer returns the product to the seller:-
   • The seller MUST provide proof of receiving package to AssetEscrowLimited
   • The seller MUST confirm receiving the package within 7 days
   • If the seller fails to complete these steps within the provided time frame, AssetEscrowLimited will assume the seller has received the product and release the full amount to the buyer
3. After the buyer and seller have completed the above steps:-
   • AssetEscrowLimited will review the transaction with a capable agent to ensure both parties are satisfied with the outcome
   • As part of the review, AssetEscrowLimited will make telephone calls to both parties to ascertain specific details. Detailed logs of contact will be maintained
   • Once the review is complete and both sides are satisfied, AssetEscrowLimited will process a full or partial refund to the buyer (as agreed) less service fees
   • In cases where AssetEscrowLimited cannot resolve the dispute between both parties satisfactorily, a professional mediator WILL be involved. Cost towards this mediation by a professional shall be borne by both the buyer and seller equally.

Last updated on 15 December, 2023