Effective Date: 19th Oct, 2024


Welcome to Nepal Escrow

These Terms and Conditions govern the use of services provided by Nepal Escrow ("we," "us," or "our"), available on the website nepalescrow.com ("Website"). By using our services, you ("Client," "you," or "your") agree to be bound by these Terms and Conditions.

1. Introduction

Nepal Escrow is an escrow service provider designed to facilitate safe and secure transactions between buyers and sellers in Nepal. Our services are subject to compliance with the laws and regulations of Nepal, including but not limited to the Nepal Contracts Act, 2056 (2000), and relevant regulations concerning online transactions.

2. Definitions

  • Escrow Account: A temporary, neutral holding account where funds or assets are held by Nepal Escrow until the completion of a transaction.
  • Client: Any user (individual or business entity) who uses Nepal Escrow’s services, including both buyers and sellers.
  • Transaction: The exchange of goods, services, or assets between parties utilizing our escrow services.
  • Release Conditions: The conditions agreed upon by the buyer and seller, under which the escrow funds or assets will be released.

3. Scope of Services

Nepal Escrow offers the following services:

  • Acting as a neutral third party to securely hold funds or assets until agreed-upon conditions are met.
  • Facilitating smooth and secure transactions between buyers and sellers.
  • Providing transparent documentation and updates regarding the status of transactions.

4. User Eligibility

To use our services, you must:

  • Be at least 15 years old or meet the legal age requirement under the laws of Nepal.
  • Be legally capable of entering into binding contracts under the Nepal Contracts Act.
  • Provide accurate, current, and complete information during the registration process.

5. Transaction Process

  1. Initiation: The buyer and seller agree to terms for the transaction, including payment, delivery of goods/services, and any other applicable terms.

  2. Escrow Deposit: The buyer deposits the agreed-upon amount or assets into the escrow account with Nepal Escrow.

  3. Delivery: The seller fulfills their obligations by delivering the goods or services to the buyer as per the agreed terms.

  4. Inspection: The buyer inspects the goods or services upon delivery within the specified time frame.

  5. Release of Funds: Upon buyer approval, Nepal Escrow releases the funds or assets to the seller.

  6. Dispute Resolution: In case of a dispute, Nepal Escrow will follow the procedures outlined in section 8 below.

6. Fees and Charges

Nepal Escrow charges a service fee based on the total value of the transaction, which is agreed upon before initiating the transaction. Fees are non-refundable unless otherwise stated. The fees will be divided between the parties as mutually agreed.

7. Legal Compliance

Nepal Escrow operates under the jurisdiction of the laws of Nepal. Both parties agree to comply with all relevant local and international laws, including laws regarding anti-money laundering, tax obligations, and any other regulatory requirements.

8. Dispute Resolution

In case of a dispute between the buyer and seller:

  • Nepal Escrow will investigate and attempt to mediate the dispute.
  • Both parties agree to provide all necessary documents, evidence, and communications to Nepal Escrow.
  • Nepal Escrow’s decision is binding for both parties, except in cases where legal remedies are sought.
  • If the dispute cannot be resolved through mediation, it will be referred to the court of competent jurisdiction in Nepal.

9. Account Suspension and Termination

Nepal Escrow reserves the right to suspend or terminate accounts that violate our terms, engage in fraudulent activities, or use the service in a manner that is harmful to others. In such cases, Nepal Escrow may withhold funds until the matter is resolved.

10. Limitation of Liability

Nepal Escrow is not liable for:

  • The quality or condition of goods or services exchanged between parties.
  • Any losses resulting from delays, disputes, or cancellations in transactions.
  • Indirect, consequential, or special damages arising out of the use of our services.

11. Privacy and Data Protection

We are committed to protecting your personal information. Please review our Privacy Policy for details on how we collect, use, and safeguard your data.

12. Amendments

Nepal Escrow reserves the right to amend these Terms and Conditions at any time. Clients will be notified of any significant changes. Continued use of the services after changes have been made constitutes acceptance of the new terms.

13. Governing Law and Jurisdiction

These Terms and Conditions are governed by the laws of Nepal. Any disputes or legal claims arising out of or related to these Terms and Conditions or the services provided by Nepal Escrow will be adjudicated in the courts of Nepal.

14. Contact Information

If you have any questions or concerns regarding these Terms and Conditions, please contact us at:

Nepal Escrow
Kumarigal-08, Chabhill Kathmandu, Bagmati Province, Nepal
Email: info@nepalescrow.com
Phone: +977 9763535778