General Escrow Instructions
- General Provisions Transactions performed by a Buyer, Seller and Broker on the eScrow-TM.com site, shall be governed by the Uniform Electronic Transactions Act (Cal. Civil Code Section 1633.1 et. seq.) and the California Financial Code governing eScrow-TM Regulations. A person or entity offering personal property for sale, and desiring to use the eScrow-TM.com 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 eScrow-TM.com site for completing the purchase shall be referred to as "Buyer". A person or entity offering to broker personal property for sale, and desiring to use the eScrow-TM.com site in order to close such a sale, shall hereinafter be referred to as "Broker". A Buyer and Seller may complete a Transaction with or without a Broker.
- When a Broker is party to this agreement, additional instructions as set forth of Section 9 of these General Instructions shall also apply. To the extent that any Broker may be involved in a Transaction, the Broker shall become a party to the Transaction and have rights under and/or through the eScrow-TM Transaction only if the Broker is an identified Broker on the particular eScrow-TM.com Transaction. If either Buyer or Seller has any independent relationship, obligation or duty of any kind with any other broker or a third party broker, such other or third party broker has no rights under and/or through the Transaction or from eScrow-TM.com. It is the sole and independent obligation and duty of the Buyer or Seller who has any independent relationship with any other or third party broker to satisfy any and all obligations to such other or third party broker. The use of the eScrow-TM.com site (by the Buyer, Seller and Broker) for purposes of effectuating a single eScrow-TMed transfer of ownership of personal property shall be referred to as a "Transaction".
- The completion of the Transaction by Buyer and Seller (and Broker when applicable) is referred to herein as the "Close of eScrow-TM". A Buyer, Seller and Broker 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 "eScrow-TMed Property". Funds deposited into eScrow-TM by the parties shall be referred to as "eScrow-TM Funds". Buyer and Seller (and Broker when applicable) should each log onto the eScrow-TM.com website daily and regularly to confirm the status of the Transaction, the shipping and tracking and/or the Closing.
- Payments made by check shall be subject to a ten (10) Business Day hold. Due to processing delays, payments made by credit card, debit card or Pay Pal Account, shall not be on deposit with eScrow-TM.com until the Business Day on which the funds are actually deposited into eScrow-TM.com’s designated account.