PAYSHO PTY (LTD), company registration number K2017168675, is a direct provider of escrow services.
A person or entity offering personal property for sale, and desiring to use the Paysho site in order to close such a sale, shall hereinafter be referred to as "Seller".
A person or entity desiring to purchase personal property from a Seller, by use of the Paysho site for completing the purchase shall be referred to as "Buyer".
The use of the Paysho site (by the Buyer or Seller) for purposes of effectuating a single transfer of ownership of personal property shall be referred to as a "Transaction". The completion of the Transaction by Buyer and Seller is referred to herein as the "Close of Transaction". A Buyer or Seller may enter into a Transaction for the sale and purchase of many different types of personal property. This Instruction refers to the personal property which is the subject of a Transaction interchangeably as "merchandise" "goods" "item(s)" or "Escrowed Property". Funds deposited into the Paysho account by the parties shall be referred to as "Escrow Funds". The fee paid to Paysho for our services shall be referred as the “Escrow Fee”.
Buyer and Seller should each log onto the Paysho website daily and regularly to confirm the status of the Transaction, the shipping and tracking and/or the Closing.
In the event the personal property being transferred in this Transaction qualifies as a "Domain Name", Paysho is instructed to close only when the transfer of the Domain Name has been confirmed by Paysho (at its option) or the Buyer has notified Paysho that Buyer has received the transfer and allowed the Inspection Period named in the Transaction Detail Screen to expire or the Buyer has accepted the transfer. Seller shall transfer a Domain Name(s) to Buyer based upon information provided in Buyer's profile. Seller agrees to provide the username and password and/or authorization code, if any, necessary to access the Domain Name to Buyer prior to the release of funds. Should Seller agree to accept payments from a Buyer for a Domain Name, and request that Paysho hold the Domain Name while these payments are being made, then Buyer and Seller shall execute a separate agreement to govern the holding of a Domain Name by Paysho.
Upon receipt of Buyer's funds, and clearance of same, Paysho will notify Seller to ship the goods. This notice to Seller shall be accomplished via email which will require the Seller to log on to the Paysho website to confirm secured funds, unless all parties lawfully agree to a different method of notification. Upon Seller's verification, Seller agrees to ship the goods to Buyer. Buyer and Seller agree to choose a shipping method that utilizes online tracking information. Seller shall ship merchandise to Buyer based upon information provided in Buyer's profile. Seller will be responsible for shipping damage if insurance is not purchased. Seller agrees to complete and submit the shipping information to the Paysho website, on the same day on which the merchandise is placed in the possession of the company responsible for shipping. Confirmation of same will be sent via email to all parties, unless all parties lawfully agree to a different method of notification.
The Buyer Inspection Period (as defined in Buyer and Seller's Transaction Instructions, as agreed to on the Transaction Detail Screens of Paysho) shall commence upon the first to occur of either: (1) Buyer's acknowledgment of receipt of merchandise or domain(s); or (2) the Paysho website receipt of verification of delivery to the Buyer's profile information via the shipper's or registrar's tracking services. The Buyer Inspection Period shall be one calendar day.
In the event the Seller has not shipped the goods within two days of notification by Paysho (through its email or posting on the Paysho website) of Buyer's deposit of immediately available funds, Buyer may request a return of funds, less the Paysho fee, and Paysho will do so after notifying both parties.
Unless the parties agree otherwise, Buyer is responsible for any duties, customs fees or other charges resulting from an international Transaction, which shall be included in the purchase price. It is the responsibility of the shipping party to properly declare the merchandise and its value for customs procedures.
During the Buyer Inspection Period, the Buyer shall either: (1) select the "Accept" button on the Paysho website, and follow all further instructions accordingly to complete acceptance of the goods; or (2) select the "Reject" button and follow any further instructions to complete the rejection of the goods. Should the Buyer fail to select either the "Accept" or "Reject" buttons, and/or follow all further instructions, then Buyer shall be deemed to be satisfied with the quality of the goods/service(s), and to have accepted the goods/service(s).
Paysho will then begin the process of disbursing the funds as follows:
Paysho reserves the right to provide the Buyer a written 48-hour notice if an Inspection Period has ended without the Buyer's involvement.
The Buyer is responsible for 100% of the escrow fee in the event the transaction is cancelled or the merchandise is returned. During the Buyer Inspection Period, Buyer may reject for any reason by selecting the "Reject" button on the Paysho site and following all other instructions to properly reject the merchandise. Upon such rejection, Paysho will send Seller an email stating Buyer's decision to reject and return the goods; and Buyer agrees to promptly ship goods to Seller within two (2) calendar days of formal rejection, at Buyer's expense, the item(s) to the place designated by the Seller in the Seller's profile. Buyer will be responsible for shipping damage if insurance is not purchased. Buyer is aware that merchandise must be rejected in the manner described in order to obtain a refund of the purchase price.
In the event that Buyer rejects the goods in violation of other terms of acceptance and rejection, applicable to Buyer and Seller in connection with the underlying Transaction (including but not limited to the Transaction Instructions and Paysho guidelines) the Seller shall not be prohibited from pursuing any available right or remedy available under the applicable law against Buyer for breach of the Transaction.
Buyer is aware that regardless of the reason for rejection, Escrowed Property must be returned to the Seller in order for funds to be returned to the Buyer. Shipping costs for returned Escrowed Property must be arranged and completed within two (2) days of Buyer's rejection. Failure of Buyer to return the Escrowed Property within the specified time period will cause Paysho to automatically pay the Seller the purchase price.
In Transactions where the Escrowed Property is a domain name, if a Buyer rejects a domain name (which is not being held by Paysho pursuant to a separate holding agreement) within the Inspection Period, return of the domain name from Buyer to Seller must be initiated within two (2) days of Buyer's rejection. Failure of Buyer to reject or initiate return of the domain name within the specified time periods will cause Paysho to automatically pay the Seller the purchase price. Seller agrees to cooperate in the return process of the domain. In the event the domain transfer to the Buyer has caused a ICANN imposed registrar lock, the Buyer and Seller agree that the Seller will open an account at the receiving registrar to take possession of the domain or that the funds will be held in escrow until this period expires and the domain can be returned to the Seller’s registrar.
By rejecting the item in the manner described above, Buyer agrees to return the item(s) promptly to Seller at the address designated by Seller in the Seller's profile. Buyer is responsible for all related shipping and insurance costs; and agrees to return the item to the Seller by use of a shipping method that utilizes online tracking information. It is the responsibility of the shipping party to properly declare the merchandise and its value for customs procedures.
Immediately upon shipping the goods back to Seller, Buyer shall complete and submit, through the Paysho website, the requested shipping information. Upon receipt of such information, Seller will be notified by an email from Paysho which includes the name of the shipping company and the relevant tracking number as supplied by Buyer. If Buyer sends the goods to Seller without following the guidelines set forth in this paragraph, then in addition to any other remedies which Paysho or Seller may have, Paysho will not return to Buyer any of the escrowed funds unless and until; (1) the Seller confirms that the rejected item has arrived in the same condition in which it was originally sent; or (2) there is a final Dispute Resolution, as set forth in the Dispute Resolution section below. Should no shipping be necessary in order to effectuate the return of the merchandise, then Seller and Buyer shall be free of the shipping and tracking obligations as defined in this section.
The Seller Inspection Period shall commence upon the first to occur of either: (1) Seller's acknowledgment of receipt of merchandise or domain(s); or (2) the Paysho website receipt of verification of delivery to the Seller's profile information via the shipper's or registrar's tracking services; or (3) the Seller's failure to accept Buyer's delivery of returned goods; or (4) the Seller's failure to retrieve returned goods upon notification from the shipping company and/or any governmental office of the returned goods' availability for pick up. The Seller shall have one (1) calendar day1 following the date on which the Seller Inspection Period begins to inspect the "returned" merchandise/domain(s).
The Seller shall have one (1) calendar days following the date on which the Seller inspection period begins to: (1) select the "Accept" button on the Paysho website, and follow all further instructions to properly accept returned goods; or (2) select the "Reject" button on the Paysho website, and follow all further instructions to properly reject returned goods.
During the Seller Inspection Period, should Seller: (1) fail to select either the "Accept" or "Reject" buttons on the Paysho website; or (2) fail to follow all instructions in order to effectuate the acceptance or rejection of a returned item, then at the end of the Seller Inspection Period, Seller shall be deemed to be satisfied with the quality of the returned goods, and shall be deemed to have accepted the returned goods.
The Seller may reject the timely return of Escrowed Property only if the property is returned in a condition other than the condition it was in when first sent from Seller to Buyer. Should Seller reject the item during the Seller Inspection Period, the Seller and Buyer shall negotiate for the Negotiation Period, as defined below. Should the Buyer and Seller fail to reach an agreement during the Negotiation Period and provide a joint instruction evidencing same to Paysho, either Buyer or Seller may file for arbitration (in accordance with the Dispute Resolution section below) at any time in the five (5) calendar days following the Negotiation Period. If, as of the sixth (6th) calendar day following the end of the Negotiation Period, neither Buyer nor Seller has filed for and given notice of the commencement of arbitration in accordance with the Dispute Resolution section of these Instructions, and given acceptable proof of the commencement of arbitration to the non-filing party and Paysho, then Seller shall be deemed to have waived any rights Seller may have to a return of all or any portion of the purchase price, the Transaction shall terminate, and Paysho shall return Buyer's funds as provided herein.
Upon the first to occur of either: (1) Seller's acceptance of the returned goods; (2) the end of the Seller Inspection Period; or (3) on the 6th calendar day following the Negotiation Period the failure of Buyer or Seller to commence arbitration (in accordance with the Dispute Resolution provisions of these Instructions and notify all parties as provided therein) Paysho will begin the process of disbursing the Escrow Funds as follows:
Once all costs are paid, and funds are disbursed, the escrow shall be deemed cancelled, with no further obligation due by Buyer, Seller, or Paysho under this Agreement or under the Transaction Instructions. Paysho reserves the right to provide the Seller a written 48-hour notice if an Inspection Period has ended without the Seller's involvement.
Once escrow funds have been deposited, in the event that Seller fails to ship the merchandise within the required two (2) day period or within any longer time period upon which Buyer and Seller have mutually agreed, Buyer may request a refund of the deposited funds. The request for refund shall be submitted to the support form. Buyer hereby agrees that the entire escrow fee shall be deducted from his/her/its refund regardless of any other previous arrangement for allocation of the escrow fee that may have been made between Buyer and Seller. Buyer and Seller also agree that Seller may request the escrow transaction be cancelled and the Buyer refunded, less escrow fees, at any time.
The following shall be referred to herein as the "Dispute Date": (1) the Seller's Rejection of Return of the merchandise/domain(s) on the Paysho website; or (2) Paysho rejecting merchandise/domain(s) on behalf of the Seller if the Seller is unable to gain access to the Paysho website. The fourteen (14) calendar days beginning with the Dispute Date shall be referred to as the "Negotiation Period". If Buyer and Seller do not reach an agreed upon resolution and notify Paysho of the same in writing by a joint instruction during the Negotiation Period either Buyer or Seller shall submit the matter to binding arbitration within fourteen (14) calendar days after the end of the Negotiation Period. This second fourteen-day period shall be referred to herein as the "Arbitration Commencement Period". Notice that such arbitration has been commenced shall be promptly given, via e-mail, by the party commencing arbitration to the other parties and Paysho. Before Buyer initiates a submission to arbitration, Buyer must return the Escrowed Property received by Buyer to Seller.
If Paysho has not received notice that binding arbitration has been commenced within the Arbitration Commencement Period, Paysho may terminate or cancel the Transaction and refund the Escrow Funds to the Buyer, less the escrow fee, in accordance with these Instructions and the Transaction Instructions. Paysho reserves the right (but has no obligation) to commence arbitration, or to interplead the funds with a court of competent jurisdiction at any time. In this case, Buyer and Seller authorise Paysho to use the escrow funds to pay the administrative fees to initiate arbitration or to file a judicial action and process service of the summons and complaint. The party instituting the arbitration proceeding shall notify Paysho and the other parties by sending notice of demand for binding arbitration to the non-filing parties. Buyer and Seller (agree to accept service of the notice of demand for binding arbitration via e-mail (via the e-mail addresses previously provided to Paysho by Buyer and Seller, and further agree that no further notice is necessary to have their dispute submitted to binding arbitration by either Buyer, Seller, or Paysho pursuant to this Section.
The arbitrator shall have the power to enter a default award if a party fails to participate in the arbitration.
Each party to the arbitration shall pay a pro-rata share of the arbitrator's expenses and fees, and the other arbitration expenses incurred or approved by the arbitrator, excluding attorney fees, witness fees, and other expenses incurred by a party for his or her own benefit. Because Paysho is not a party to a dispute between Buyer and Seller Paysho will not be responsible for any portion of the arbitration expenses and fees.
The arbitrator may award the prevailing party his or her expenses and fees of arbitration, including reasonable attorney fees and witness fees, in such proportion as the arbitrator decides.
Buyer and Seller understand and agree that failing to respond or otherwise comply with either party's or Paysho's notice/demand for binding arbitration pursuant to this section and/or failing to participate in the arbitration process will without notice result in forfeiture of any and all rights that the non-responding Buyer or Seller may have with regard to the subject matter of the dispute, including but not limited to rights Buyer or Seller have to the Escrow Funds and or any property associated therewith returned or distributed to them, and can result in a default judgment against such party.
Any award in such arbitration shall be final and binding upon the parties and judgment thereon may be entered in any court of competent jurisdiction. The arbitrator will be instructed to serve a copy of the final award or decision on Paysho and Paysho will comply with the arbitrator's final award or decision.
Paysho may, in its sole discretion, institute the binding arbitration procedures set forth above and/or any other legal proceedings (including interpleading the funds with a court of competent jurisdiction) to resolve any dispute arising from a Transaction between Buyer and Seller and/or related to Buyer's and Seller's respective use of the Paysho site. Notwithstanding any other provision in these General Instructions to the contrary, and regardless of whether Paysho is identified as a party to any arbitration or other dispute governed by this section, nothing herein shall be construed to limit Paysho's legal and/or equitable rights, including but not limited to the filing of an interpleader action in any court of competent jurisdiction.
Should the Paysho site or our services be unavailable, or if Buyer and Seller (and Broker when applicable) jointly desire to extend the Buyer Inspection Period or the Seller Inspection Period, then Paysho may, but shall not be obligated to, extend such times as set forth in the Transaction Instructions at Paysho’s sole and absolute discretion, and Paysho will provide prompt email notification of any extension to all parties. With the exception of Paysho extensions, the Buyer Inspection Period and the Seller Inspection Period as set forth in these Instructions and the Transaction Instructions shall not be modified.
If, for any reason, you are unable to gain access to the Paysho site to inform Paysho of any acceptance, rejection or return of merchandise, then you must notify Paysho within the applicable time limit either by calling Paysho or by emailing us from the support form. This notification will not be considered effective until Paysho acknowledges receipt by notifying Buyer and Seller via email or by updating the Transaction Detail Screen.
All Escrow Funds due to Buyer and Seller shall be paid as soon as possible following the Buyer's acceptance, Seller's acceptance, or the resolution of a dispute. In the event that Buyer makes any form of overpayment, we shall reimburse the overpayment upon the Close of Transaction. In the event that Buyer or Seller is overpaid for any reason, Buyer and Seller agree to promptly return the funds to Paysho. The payee agrees to pay any postage costs and/or wire fees if an alternate payment is requested.
Upon any payment or other disposition of the Escrow Funds, the Transaction shall be deemed closed and final with no further obligation on the part of Buyer, Seller, or Paysho. If after a Transaction is closed and Paysho has distributed proceeds, a Buyer who has made a payment with a credit card instructs a credit card company to stop payment or make a charge back so that Paysho does not receive the payment from the credit card company or the previous credit from the credit card company is reversed or “charged back”, said action by Buyer is deemed to be a material breach of this agreement. The parties agree that if such a breach does occur after the Transaction closes liquidated damages in the amount of the stopped payment, reversal or charge back plus an additional R10,000 will be imposed (“Damages”). The parties agree the Damages amount set forth herein is reasonable in light of (1) the anticipated or actual harm caused by the breach; (2) the difficulties of proof of loss; and (3) the inconvenience or non-feasibility of otherwise obtaining an adequate remedy.
All Escrow Funds shall be deposited in a non-interest trust account of PAYSHO PTY (LTD). Buyer and Seller acknowledge that the maintenance of such escrow trust accounts may result in PAYSHO PTY (LTD) or a Paysho affiliate being provided with certain bank services, accommodations or other benefits by the bank. All such services, accommodations and other benefits shall accrue to the Paysho affiliates, and the Paysho affiliates shall have no obligation to account to Buyer or Seller or any other party to any escrow created hereunder for the value of such services, accommodations or other benefits.
Unless otherwise requested as specified herein, Escrow Funds do not earn interest for Buyer or Seller. If Buyer or Seller anticipate an extended period of time before the Close of Transaction, Buyer or Seller may request in writing by email, and Paysho may approve, an instruction to have Paysho place the Escrow Funds into an interest bearing account for benefit of the Buyer or Seller, as agreed upon in writing by all parties.
Unless otherwise agreed upon by all parties, all communication from Paysho to Buyer and Seller may be by email to the last address provided in the user profile. Buyer and Seller agree to use the Paysho site to verify the accuracy of all email communications from Paysho. An electronic record shall be deemed to be sent when the information is properly addressed or directed to its intended recipient, and either: (1) enters an information processing system outside the control of the sender; or (2) enters a region of an information processing system that is under the control of the recipient. If a party is unable to use the Paysho site after the Transaction is created and the terms agreed on, a party may contact Paysho by telephone to make arrangements for alternative methods of signature and acknowledgment. Buyer, Seller and Paysho shall only be required to agree to employ alternative communication methods, which are reasonable accommodations under the circumstances of the Transaction. If the Seller sells goods by both electronic and non-electronic means, and a Buyer purchases goods by an electronic transaction, the Buyer retains the right to refuse to conduct further transactions regarding the goods by electronic means. However, should Buyer invoke such right, Buyer, Seller and Paysho must agree and acknowledge the arrangement in writing. If such an agreement is not made, Paysho may consider the Transaction terminated.
If we believe in our sole, good faith opinion that the Transaction violates the terms of these General Instructions, or the Transaction violates or is likely to violate any applicable law, rule or regulation, then we may terminate the Transaction and seek court-ordered protection of the Escrow Funds in a court of competent jurisdiction by any court-ordered means, including but not limited to, an impound account and/or institution of a receiver.
If any dispute arises between the Buyer and Seller and such dispute is not resolved within a reasonable time, or if any conflicting demand shall be made upon Paysho, Paysho shall not be required to take any action until such time as Paysho receives written instructions signed by all parties. Paysho may take such action including but not limited to the institution of an arbitration proceeding or the filing of a judicial action as Paysho, in its sole discretion, elects to do. If Paysho is compelled to initiate arbitration and/or judicial proceedings to enforce the terms of these General Instructions including but not limited to any action to collect unpaid fees and/or enforce judgments in any jurisdiction Paysho will be entitled to reimbursement of attorney fees and costs incurred.
Should a Buyer or Seller file for bankruptcy protection while either party has an escrow open with Paysho, or while Paysho holds title to a domain name or any other property or ongoing service which is the subject of an escrow, Paysho reserves the right to cancel such escrow and return the property to the Seller with no further instruction required from the parties.
The natural person who selects the "Agree" button at the bottom of the Registration screen on behalf of the Buyer or Seller certifies that by selecting the "Agree" button, that Buyer or Seller is at least eighteen years of age and that he or she has read and agrees to be bound by the terms of these General Instructions, and the Transaction Instructions. If the natural person is acting on behalf of a corporation, limited liability company, partnership, trust or business entity of any type, by selecting the "Agree" button, he or she represents and warrants that he or she has the authority to bind said entity.
The Buyer and Seller understand that the above escrow services DO NOT include any representation of warranty, either expressed or implied by Paysho, and that Paysho assumes no responsibility for the legality of the transaction, condition of the ownership, sufficiency of instruments conveying ownership, or agreements therefore. Payment of sales tax, utilities, future performances of Buyer and Seller transfer of any insurance policies or warranties, legality of the transaction or legal effect thereof or any other matters related to merchandise or this escrow NOT specifically included herein shall be considered outside of escrow and neither Paysho nor any of the Paysho affiliates shall have any further responsibility and/or liability for same.
If any provision herein is held to be invalid or unenforceable for any reason, the remaining provisions will continue in full force without being impaired or invalidated in any way. Headings are for reference purposes only and in no way define, limit, construe or describe the cope or extent of such section.
If performance hereunder is interfered with by any condition beyond a party's reasonable control, the affected party will be excused from such performance to the extent of such condition.
End of General Instructions.
Revised 25 February 2018.
Company Reg. No.: 2017/168675/07