Start my transaction

Escrow Instructions

1. General Instructions

Accruit LLC sometimes hereinafter referred to as “we”, “us” or “our”, offers online financial transaction management and escrow services through our website at PaySAFEescrow.com. These services shall be governed by these Escrow Instructions and our Terms of Use. In case of conflict between any of the terms of these Escrow Instructions and our Terms of Use, these Escrow Instructions shall control. Any agreement between Sellers and Buyers (and Broker when applicable) that is not reflected within these Escrow Instructions shall not be binding on Accruit LLC.

2. Definitions

“Seller” means a person or business that contracts to provide materials or labor to perform a service or transfer of goods. “Buyer” means a person or business that purchases goods or services. “Broker” means a person or entity offering to broker goods or services and desiring to use PaySAFEescrow.com site in order to close such a sale. A Buyer or Seller may complete a Transaction with or without a Broker. To the extent that any Broker may be involved in a Transaction, the Broker shall become a party to the transaction. “Transaction” refers to the use of the PaySAFEescrow.com web site to facilitate a Seller’s delivery of a good or performance of a service to a Buyer. “Escrow Account” means (i) an account of a Buyer from which payment for the Transaction and related fees will be obtained, or (ii) an account of a Seller to which payment for the Transaction and other payments will be credited, or (iii) an account of a Broker to which payment for the Transaction and other payments will be credited and/or related fees will be obtained. “Business Days” mean Monday through Friday, except for bank holidays. “Terms of Use” means the document on the Site that contains the Site’s terms of use. “Escrow Instructions” refers to the provisions contained in these Escrow Instructions. “User” means a Buyer, Broker or a Seller participating in a Transaction. “Services” means the Transaction management and escrow services provided by our “Escrowed Funds” refers to funds deposited into an Escrow Account by participants of this Site. “Site” refers to the website for the Services which can be found at www.PaySAFEescrow.com.

3. General Provisions

Users hereby agree and authorize us to act as the Escrow Account holder and agent in connection with the transaction management services we offer under our Terms of Use and these Escrow Instructions. We reserve the right to change these Escrow Instructions without notice. The copy of these Escrow Instructions that you agree to at the time of your registration shall be the enforceable version. All Users should log onto the PaySAFEescrow.com website regularly to confirm the status of the Transaction. The time of day and calendar date for all matters and events referred to in these Escrow Instructions shall be considered in Central Standard Time. Users agree that all communications for any purpose within our Site shall be made in the English language.

4. Buyer instructions

Once you have verbally agreed with the Seller to the terms of the Transaction, you can then register at PaySAFEescrow.com. All correspondence within the Site will be directed to this email address. Upon registration, an email confirming registration will be automatically sent to the email address you provided. Once registered, you can create a new Transaction and open an Escrow Account. Buyers can then log onto the Site anytime 24/7 to check their Transaction status, accept or reject escrow payments, and enter comments to their Transaction Seller through the Site.

5. Seller instructions

Once you have verbally agreed with the Buyer to the terms of the Transaction, you can then register as a Seller at PaySAFEescrow.com. An email will be automatically sent to the email address you provided upon completion of your registration. All correspondence within the Site will be directed to this email address. Upon completion of your registration, Sellers can create a new Transaction, log onto the Site anytime 24/7 to check their Transaction status and availability of the escrowed funds, request payment, and enter comments to their customers through the Site. All payments from the Escrowed Funds will be credited to the Seller account using methods as agreed by Accruit LLC and the Seller.

6. Broker instructions

Broker will register as a Broker at PaySAFEescrow.com. An email will be automatically sent to the email address you provided upon completion of your registration. All correspondence within the Site will be directed to this email address. Upon completion of your registration, Brokers can create a new Transaction, log onto the Site anytime 24/7 to check their Transaction status, availability of the escrowed funds and enter comments to their customers through the Site. All payments from the Escrowed Funds will be credited to the Broker account using methods as agreed by Accruit LLC and the Broker. The Broker will initiate a Transaction by providing Buyer and Seller email addresses and shall create the details of the Transaction that Buyer and Seller will be asked to agree to. Once the Buyer and Seller agree to the Transaction, including the agreement to the Brokers commission, the Buyer will be prompted to send payment to us. After we secure and verify funds, we will instruct the Seller to transfer the goods or services to the Buyer. Once the Buyer has accepted the release of Escrow funds, we will disburse funds to the Seller and the Broker per the Transaction details. In the event of a cancellation after funds are received, or rejection of goods or services, the Broker will not receive the commission.

7. Escrow Deposit, Disbursement and Charges

An Escrow Account can be opened by one the following methods: Wire Transfer, electronic Check or Bank Check. Your Transaction ID assigned by us must accompany the Escrow Account deposit. Funds are placed in a FDIC insured commercial bank account. Wire fees or other third party bank fees are the responsibility of the individual initiating the transfer, i.e.: the Buyer or Seller. For all funds deposited into an Escrow Account with us, we shall charge a one-time fee (“Escrow Fee”) per each deposit. The escrow fee is determined to be earned once the transaction has been activated. The remaining funds after the subtraction of the Escrow fee will be available for release to the seller or refunded to the buyer. Escrow fees are determined by us at our discretion and are posted on the website. Escrow Fees are subject to change without notice. Users acknowledge that the maintenance of such escrow trust accounts may result in us or any of our affiliates being provided with certain bank services, accommodations or other benefits by the bank. All such services, accommodations and other benefits shall accrue to Accruit LLC affiliates, and our affiliates shall have no obligation to account to Users (or any other party to any escrow) created hereunder for the value of such services, accommodations or other benefits.

8. Escrow Process

Once the Escrow Account is established, Sellers shall request payment through the Site. The Buyer may accept or reject the request for payment depending on whether or not they are satisfied that the terms of the Transaction have been met. When the Buyer clicks the accept button, then the amount requested by the Seller will be released. If the Buyer clicks the reject button, no funds will be released. If the request for payment is rejected, the comment box must be filled out by the Buyer with an explanation to the Seller describing the reasons for rejecting the request for payment. Negotiation between Seller and Buyer may continue via email through the site until such time as any issues relating to the rejection are addressed. Escrowed Funds will be released to the Seller only after the Buyer chooses to accept the release of the requested amount, or in accordance with Paragraphs 7 and 8 of the our “Terms of Use,” located on the Site. Generally, Paragraphs 7 and 8 of the Terms of Use authorize us to transfer the Escrowed Funds (excluding fees) when (a) A User agrees on and through the Site to release such funds, or (b) A User fails to respond on and through the Site to a request to release funds within 30 days of any such request, or (c) we are directed by an Court order or by a judgment from binding arbitration to transfer the Escrowed Funds to the requesting party. All Users should refer to the applicable provisions in the Terms of Use for specific details regarding the release of Escrowed Funds.

9. Payments

All payment requests will be processed as soon as possible, usually within two Business Days. We cannot be responsible for delays caused by any outside influence such as postal delays, financial institution delays, terrorism, Dispute Resolution acts of God or any other form of delay outside of our control.

10. Dispute Resolution

In the event a dispute arises related to the Transaction and/or the release of Escrowed Funds and the Users are unable to mutually resolve the dispute, Users hereby agree to resolve their dispute by initiating what shall be referred to as the ”Dispute Process”. The party initiating the Dispute Process must promptly notify us and the other party of demand for dispute resolution via email through our Site. This shall be referred to as “Dispute Commencement.” THE USERS HEREBY AGREE TO SUBMIT TO BINDING ARBITRATION If the other party does not respond to the Dispute Commencement to us within 30 days, we may cancel the transaction and release the escrowed funds. Upon proper notice of Dispute Commencement, we will monitor the Dispute Resolution process at the equally shared expense of the Users, and may place the Escrowed Funds with a court of competent jurisdiction at any time and interplead the parties involved in the dispute, or transfer the Escrowed Funds to an interest-bearing account until the parties agree in writing or a final Arbitration award or judicial decision on the dispute has been rendered. We will abide by the final resolution mutually reached by the parties, or by the binding decision or order rendered by the arbitrator or court, and allocate the Escrowed Funds accordingly. It is the responsibility of the prevailing party to notify us of the final agreement, award or decision and to provide supporting documents for verification purposes. Any costs or fees incurred during the Dispute Resolution process are the responsibility of the Users. We shall not be liable for any costs associated with the Dispute Resolution process. An alternative method of settlement between parties may be substituted for the above if agreed upon by both parties and submitted in writing to Accruit, LLC 1331 17th St Suite 1250, Denver, CO 80202.

11. Liability of PaySAFE®

Accruit, LLC shall not have any duty or obligation to collect any funds and shall not be responsible for the defaults of any Users. By agreeing to use the Site’s Services, Users jointly and severally agree to hold us harmless as to any liability or damages incurred by us to any other person or corporation by reason of our acceptance of Escrowed Funds, and to reimburse us for all expenses, including but not limited to, attorneys’ fees and court costs incurred in connection herewith.

12. Governing Law

These Escrow Instructions governing use of our Site or Services shall be governed by and interpreted in accordance with the laws of the State of Colorado.

13. Severability

If for any reason a provision set forth herein is held to be invalid or unenforceable, the remaining provisions will continue in full force.

14. Access and Notification

If for any reason you are unable to gain access to the PaySAFEescrow.com website, then you must notify Accruit, LLC by mail To: Accruit, LLC, 1331 17th Street, Suite 1250, Denver, Colorado 80202 or by phone at 877.638.1518.

15. Agreement

When a User clicks on the “Agree” button of these Escrow Instructions, they agree to be bound by the terms set forth herein and our Terms of Use. Users hereby agree to conduct the Transaction electronically through our Site. Users also certify that they are at least 19 years of age.