1. Introduction

1.1 Welcome to SecurrHold Escrow Limited

Welcome to SecurrHold Escrow Limited ("SecurrHold", "we", "us" or "our"). We are a registered company operating under the laws of Kenya, dedicated to offering secure and reliable escrow services to our clients. Our mission is to provide secure, efficient and reliable escrow solutions that guarantee trust and peace of mind in every transaction while fostering a culture of integrity, accountability and innovation.

1.2 Purpose of These Terms& Conditions

These Terms& Conditions ("Terms") govern your access to and use of our services including our website, mobile applications and any other platforms through which we provide escrow services (collectively, the "Service"). By engaging with our Service, you agree to comply with and be bound by these Terms. They are designed to ensure a clear understanding between SecurrHold and our users regarding the rights, responsibilities and obligations associated with using our Service.

1.3 Acceptance of Terms

By accessing or using our Service, you confirm that you have read, understood and agree to be bound by these Terms. If you do not agree with any part of these Terms, you must refrain from using our Service. Your continued use of the Service following any changes to these Terms constitutes your acceptance of the revised Terms.

1.4 Modifications to Terms

SecurrHold reserves the right to modify or update these Terms at any time. Any changes will be effective immediately upon posting on our website. It is your responsibility to regularly review these Terms to stay informed of any updates. Continued use of the Service after modifications constitutes acceptance of the revised Terms.

1.5 Contact Information

If you have any questions, concerns or require further clarification regarding these Terms, please contact us at:

SecurrHold Escrow Limited

contact@securrhold.com

+254 715 295 515

www.securrhold.com

2. Definitions

For the purposes of these Terms & Conditions, the following terms shall have the meanings assigned to them below. Capitalized terms not defined herein shall have the meanings ascribed to them in other sections of these Terms.

2.1 "Account"

A unique account created by a User to access and utilize the Services provided by SecurrHold. Each Account is associated with specific login credentials and is subject to verification and approval by SecurrHold.

2.2 "Escrow"

A financial arrangement where a third party (SecurrHold) holds and regulates funds or assets on behalf of two transacting parties until certain conditions are met ensuring security and trust in the transaction.

2.3 "Escrow Agreement"

The binding contract between the parties involved in an escrow transaction outlining the terms, conditions and responsibilities of each party as well as the criteria for the release of funds.

2.4 "Fees"

The charges imposed by SecurrHold for providing its Escrow Services. Details of the fee structure are outlined in Section 8: Payment Terms, Fees and Charges.

2.5 "Force Majeure"

Unforeseeable circumstances or events beyond the reasonable control of SecurrHold, including but not limited to natural disasters, wars, strikes or governmental actions which may prevent SecurrHold from fulfilling its obligations under these Terms.

2.6 "Governing Law"

The laws and regulations of the Republic of Kenya that govern the interpretation, validity and enforcement of these Terms& Conditions and any disputes arising out of or in connection with them.

2.7 "Parties"

The individuals or entities entering into an Escrow Agreement facilitated by SecurrHold, including both the principal parties (Party I and Party II) and SecurrHold as the intermediary.

2.8 "Party I"

The individual or entity initiating the escrow transaction by depositing funds into the SecurrHold escrow account for the purpose of holding and securing an agreement with Party II.

2.9 "Party II"

The individual or entity receiving the held funds from the SecurrHold escrow account upon fulfillment of the agreed-upon conditions as stipulated in the Escrow Agreement.

2.10 "Privacy Policy"

Outlines how SecurrHold collects, uses, discloses and protects the personal information of its Users. It is referenced in Section 18: Privacy Policy.

2.11 "Service" or "Services"

The suite of escrow-related services provided by SecurrHold, including the holding and disbursing of funds, transaction processing, dispute resolution and any other services described in these Terms.

2.12 "Transaction"

Any exchange facilitated through SecurrHold’s Services including deposits, withdrawals, fund releases and any other movement of funds between Parties within the SecurrHold platform.

2.13 "User" or "You"

Any individual or entity that has created an Account with SecurrHold and utilizes the Services provided. Users must comply with all terms and conditions outlined in these Terms.

2.14 "Releasing Funds"

The process by which Party II or SecurrHold releases funds from the escrow account to the designated recipient, contingent upon the fulfillment of the conditions set forth in the Escrow Agreement.

2.15 "Dispute"

A disagreement between Party I and Party II regarding the fulfillment of contractual obligations, the condition of goods or services or any other aspect of the Transaction that requires resolution through SecurrHold’s Dispute Resolution process.

2.16 "Third-Party Services"

Any external services or platforms integrated with or utilized by SecurrHold to provide its Services such as payment gateways, banking institutions or verification services.

2.17 "User Content"

Any information, data, text or materials submitted by Users in the course of using SecurrHold’s Services including but not limited to transaction details, personal information and communication between Parties.

2.18 "Confidential Information"

Any non-public information disclosed by either Party during the course of the Transaction which may include financial details, personal data, business strategies or proprietary information.

2.19 "M-Pesa"

A mobile phone-based money transfer, financing and microfinancing service, widely used in Kenya, through which SecurrHold facilitates the transfer and disbursement of funds.

2.20 "Bank Deposits and Transfers"

The processes by which Clients (both Party I and Party II) utilize traditional banking institutions to deposit funds into or receive funds from their SecurrHold escrow accounts.

2.21 "Termination"

The cessation of a User’s access to SecurrHold’s Services, either by the User or by SecurrHold, in accordance with the conditions outlined in Section 14: Termination of Service.

3. Acceptance of Terms

3.1 Agreement to Terms

By accessing, registering for or using the services provided by SecurrHold Escrow Limited ("SecurrHold", "we", "us" or "our"), you ("User", "you" or "your") acknowledge that you have read, understood and agree to be bound by these Terms & Conditions ("Terms"). This agreement governs your use of our website, mobile applications and any other platforms through which we offer our escrow services (collectively, the "Service").

3.2 Legal Capacity

By agreeing to these Terms, you represent and warrant that:

Age Requirement: You are at least 18 years old and have the legal capacity to enter into binding contracts under the laws of the Republic of Kenya.

Authority: If you are using the Service on behalf of an organization or entity, you have the authority to bind that organization or entity to these Terms.

3.3 Binding Agreement

These Terms constitute a legally binding agreement between you and SecurrHold. By using our Service, you agree to comply with and be bound by all provisions of these Terms as well as any additional guidelines, policies or rules that may be published by SecurrHold from time to time.

3.4 Consent to Electronic Communications

By using our Service, you consent to receive electronic communications from SecurrHold. These communications may include notices about your account, changes to the Terms and other information related to your use of the Service. You agree that any notices, agreements, disclosures or other communications that SecurrHold sends electronically will satisfy any legal communication requirements including that such communications be in writing.

3.5 Compliance with Laws

You agree to use the Service in compliance with all applicable local, national and international laws, rules and regulations. This includes, but is not limited to, laws governing financial transactions, data protection and anti-money laundering.

3.6 No Third-Party Beneficiaries

These Terms are intended solely for the benefit of you and SecurrHold. Nothing in these Terms shall confer any rights or remedies upon any person other than the parties and their respective successors and permitted assigns.

3.7 Modification of Terms

SecurrHold reserves the right to modify, amend or update these Terms at any time without prior notice. Such changes will become effective immediately upon posting on our website. It is your responsibility to review the Terms periodically to stay informed of any updates. Your continued use of the Service following the posting of revised Terms constitutes your acceptance of the changes.

3.8 Termination of Agreement

SecurrHold may terminate or suspend your access to the Service at any time, without prior notice or liability, for any reason, including but not limited to a breach of these Terms. Upon termination, your right to use the Service will immediately cease and any pending transactions will be handled in accordance with the Escrow Agreement and these Terms.

3.9 Severability

If any provision of these Terms is found to be invalid, illegal or unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. The invalid, illegal or unenforceable provision shall be deemed modified to the minimum extent necessary to make it enforceable.

3.10 Entire Agreement

These Terms, along with any additional policies or agreements incorporated by reference, constitute the entire agreement between you and SecurrHold regarding your use of the Service. They supersede all prior or contemporaneous communications, whether electronic, oral or written, between you and SecurrHold concerning the Service.

3.11 Waiver

No waiver of any term or condition of these Terms shall be deemed a further or continuing waiver of such term or condition or any other term or condition. The failure of SecurrHold to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision.

3.12 Assignment

You may not assign or transfer your rights or obligations under these Terms without the prior written consent of SecurrHold. SecurrHold may assign or transfer its rights and obligations under these Terms without restriction.

4. Services Provided

4.1 Overview of Escrow Services

SecurrHold Escrow Limited ("SecurrHold", "we", "us" or "our") provides secure and reliable escrow services designed to facilitate safe transactions between parties. Our services act as a neutral third party, holding funds until all agreed-upon conditions of a transaction are met by both parties involved.

4.2 Scope of Services

SecurrHold offers the following escrow-related services:

Fund Holding and Management

Deposit of Funds: Party I deposits the agreed-upon funds into a SecurrHold escrow account via our website or mobile application.

Secure Storage: Funds are securely held in the escrow account, protected by our robust security measures until the transaction conditions are satisfied.

Transaction Facilitation

Condition Verification: Upon fulfillment of the transaction conditions by Party II, SecurrHold verifies compliance before releasing funds. Additionally, Party I may release funds once satisfied with the fulfillment of the agreed conditions. Conversely, Party II may request the release of funds, prompting a notification to Party I to approve and facilitate the release.

Disbursement of Funds: Funds are released to Party II’s designated M-Pesa account or bank account as per Party I’s instructions. Party I retains the authority to release funds upon satisfaction of the transaction conditions, while Party II can initiate a request for fund release, ensuring that Party I is duly notified and consents to the disbursement.

Dispute Resolution

Mediation Services: In the event of a dispute between Party I and Party II regarding the fulfillment of transaction conditions, SecurrHold facilitates mediation to resolve the issue.

Arbitration Services: If mediation fails, SecurrHold may employ arbitration procedures as outlined in Section 16: Dispute Resolution.

Transaction Monitoring and Reporting

Real-Time Tracking: Users can monitor the status of their transactions in real-time through our platform.

Transaction History: Users have access to detailed transaction histories and account statements for their records.

Integration with Third-Party Services

Payment Gateways: Integration with secure payment gateways to facilitate deposits and withdrawals.

Verification Services: Utilization of third-party verification services to ensure the legitimacy of transactions and compliance with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations.

4.3 Service Operations

Initiating an Escrow Transaction

Creating an Escrow Agreement: Party I and Party II agree upon the terms and conditions of the transaction which are documented in an Escrow Agreement.

Depositing Funds: Party I deposits the agreed-upon funds into the SecurrHold escrow account through our platform.

Managing Transaction Conditions

Defining Conditions: Both parties define the specific conditions that must be met for the release of funds.

Verification Process: SecurrHold verifies that all conditions outlined in the Escrow Agreement have been satisfied before proceeding with the disbursement.

Releasing Funds

Automatic Release: If all conditions are met, SecurrHold automatically releases the funds to Party II. Additionally, Party I has the option to manually release funds once satisfied with the transaction's fulfillment. Party II may also request the release of funds which will notify Party I to proceed with the automatic or manual release as appropriate.

Manual Review: In cases where conditions require manual verification, SecurrHold conducts a thorough review before releasing funds. During this process, Party I may choose to release funds upon satisfaction or Party II can request the release of funds thereby notifying Party I to authorize and execute the disbursement.

Funds held in escrow can be released in full or in installments, based on the preferences of Party I. This allows Party I to make multiple partial payments to Party II as certain conditions are met and/or milestones are reached, ensuring a more flexible payment process.

Handling Disputes

Initiating a Dispute: Either party may initiate a dispute if there is disagreement over the fulfillment of conditions.

Mediation and Arbitration: SecurrHold facilitates mediation and if necessary, arbitration to resolve the dispute in accordance with Section 16: Dispute Resolution.

4.4 Service Limitations

While SecurrHold strives to provide comprehensive and reliable escrow services, certain limitations apply:

Geographical Restrictions

Our services are primarily available to users within the Republic of Kenya. Availability in other jurisdictions may be subject to additional terms and conditions or regulatory approvals.

Transaction Limits

Minimum and Maximum Amounts: There may be minimum and maximum limits on the amount that can be held in escrow per transaction. Details are outlined in Section 8: Payment Terms, Fees and Charges.

Currency Restrictions: Currently, transactions are conducted in Kenyan Shillings (KES) only. Any future support for additional currencies will be communicated accordingly.

Prohibited Transactions

Certain types of transactions are prohibited and will not be facilitated by SecurrHold. Refer to Section 10: Prohibited Activities for a detailed list.

Service Availability

While SecurrHold aims for high availability, we do not guarantee uninterrupted access to our services. Scheduled maintenance or unforeseen technical issues may temporarily affect service accessibility.

User Responsibilities

Users are responsible for providing accurate and complete information during the transaction process. Failure to do so may result in delays or cancellation of the escrow transaction.

4.5 Fees and Charges

All fees associated with our escrow services are detailed in Section 8: Payment Terms, Fees and Charges. These fees are subject to change and will be communicated to users in advance of any modifications.

4.6 Security Measures

SecurrHold employs advanced security protocols to safeguard user funds and data. Refer to Section 12: Security Measures for a comprehensive overview of our security practices.

4.7 Compliance and Regulatory Adherence

SecurrHold operates in compliance with all applicable laws and regulations in the Republic of Kenya, including but not limited to financial transaction regulations, data protection laws and anti-money laundering statutes. Refer to Section 5: User Eligibility and Section 18: Privacy Policy for more details on compliance measures.

5. User Eligibility

5.1 Age Requirement

To utilize the services provided by SecurrHold Escrow Limited ("SecurrHold", "we", "us" or "our"), you must meet the following age criteria:

Minimum Age: You must be at least 18 years old. By agreeing to these Terms& Conditions, you represent and warrant that you meet this age requirement.

Legal Capacity: Individuals under the age of 18 are not permitted to create an account or engage in any transactions using our Services. If you are under 18, you must refrain from using our Services. By using our Services, you confirm that you have the legal capacity to enter into binding contracts under the laws of the Republic of Kenya.

5.2 Legal Capacity and Authority

By using our Services, you affirm that:

Individual Users: You possess the full legal capacity and authority to enter into and comply with these Terms. This means you are not incapacitated, under guardianship or otherwise legally restricted from managing your financial affairs.

Business Entities: If you are registering on behalf of an organization, company or other legal entity, you have the authority to bind that entity to these Terms. You represent and warrant that you have the necessary corporate power and authority to enter into and perform your obligations under these Terms.

5.3 Residency and Jurisdiction

Primary Residency: Our Services are primarily available to individuals and entities located within the Republic of Kenya. By using our Services, you confirm that you reside and operate within Kenya.

Geographical Restrictions: Access to and use of our Services may be restricted in certain jurisdictions. If you are accessing our Services from outside Kenya, you must comply with all local laws and regulations applicable to your use of the Services. It is your responsibility to ensure that your use of the Services complies with any such laws.

5.4 Prohibited Users

Certain individuals and entities are prohibited from using SecurrHold’s Services. The following categories of users are not eligible to utilize our Services:

Sanctioned Individuals and Entities: Persons or organizations listed on any international sanctions lists, including those maintained by the United Nations, the European Union, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) or any other relevant authority.

Insolvent or Bankrupt Entities: Individuals or entities that are currently insolvent, bankrupt or subject to any similar legal proceedings.

Criminal Affiliations: Individuals or entities involved in criminal activities, including but not limited to fraud, money laundering, terrorism financing or other illicit activities.

Under Legal Restriction: Persons or entities prohibited by any court order or legal judgment from engaging in financial transactions or operating a financial services business.

5.5 Verification and Compliance

To ensure compliance with legal and regulatory requirements, SecurrHold implements robust verification processes:

Know Your Customer (KYC): All Users must complete a KYC process providing accurate and verifiable information about their identity and where applicable, their business entity.

Anti-Money Laundering (AML): Users may be required to provide additional documentation and undergo enhanced due diligence to prevent money laundering and other financial crimes.

Continuous Monitoring: SecurrHold reserves the right to monitor transactions and user activities to detect and prevent suspicious or fraudulent activities. Users may be subject to periodic reviews to ensure ongoing compliance with eligibility criteria.

5.6 Account Suspension and Termination

SecurrHold reserves the right to suspend or terminate the accounts of Users who fail to meet the eligibility criteria or who violate any terms of these Terms& Conditions. Reasons for suspension or termination include but are not limited to:

- Providing false or misleading information during the registration or verification process.

- Engaging in prohibited activities as outlined in Section 11: Prohibited Activities.

- Violating any applicable laws or regulations.

- Breaching any terms outlined in these Terms & Conditions.

Upon suspension or termination, the User will be notified and any pending transactions will be handled in accordance with the Escrow Agreement and these Terms.

5.7 Special Considerations for Business Accounts

For Users registering as business entities, the following additional criteria apply:

Valid Business Registration: The entity must be duly registered and in good standing under the laws of the Republic of Kenya.

Authorized Representatives: Only authorized representatives of the business entity may create and manage accounts. Proof of authorization may be required during the registration process.

Business Documentation: Additional documentation, such as business licenses, certificates of incorporation and tax identification numbers may be required to verify the legitimacy of the business entity.

5.8 Minors Using Services on Behalf of Parents or Guardians

Parental Consent: Users under the age of 18 may not create an account or use SecurrHold’s Services, even with parental or guardian consent. Any attempt to do so will result in immediate termination of the account.

Reporting Obligations: If SecurrHold becomes aware that a minor has attempted to use the Services, we will take appropriate actions, including reporting to relevant authorities if necessary.

6. User Obligations

6.1 Provision of Accurate Information

Truthful Representation: Users must provide complete, accurate and up-to-date information during the account registration process and throughout their use of the Services. This includes personal details, business information, financial data and any other information required by SecurrHold.

Verification Documents: Users are required to submit valid and authentic identification documents as part of the Know Your Customer (KYC) process. Providing false, misleading or fraudulent documents is strictly prohibited and may result in account suspension or termination.

Timely Updates: Users must promptly update their account information to reflect any changes in personal or business circumstances, including but not limited to changes in contact information, legal status or authorized representatives.

6.2 Compliance with Laws and Regulations

Legal Use of Services: Users agree to utilize SecurrHold’s Services in accordance with all applicable local, national and international laws, regulations and guidelines. This includes, but is not limited to, laws related to financial transactions, anti-money laundering (AML), counter-terrorism financing (CTF), data protection and privacy.

Prohibited Transactions: Users must not engage in any transactions that are illegal, fraudulent or otherwise prohibited by law. This includes transactions involving money laundering, financing of terrorism or any other illicit activities.

6.3 Account Security

Confidentiality of Credentials: Users are responsible for maintaining the confidentiality of their account credentials, including usernames and passwords. Sharing account credentials with unauthorized individuals is prohibited.

Secure Access: Users must take all reasonable measures to secure their devices and access points to prevent unauthorized access to their accounts. This includes using strong, unique passwords and enabling two-factor authentication (if available).

Immediate Notification: Users must notify SecurrHold immediately if they suspect any unauthorized use of their account or any other security breach. Prompt reporting allows SecurrHold to take necessary actions to protect the user and the integrity of the Services.

6.4 Prohibited Conduct

Users must refrain from engaging in any of the following activities while using SecurrHold’s Services:

Fraudulent Activities: Attempting to deceive, defraud or mislead SecurrHold or other users through false statements, forged documents or any other deceptive practices.

Unauthorized Access: Attempting to gain unauthorized access to SecurrHold’s systems, other users’ accounts or any restricted areas of the Services.

Interference with Services: Disrupting, overloading or impairing the functionality of SecurrHold’s Services through malicious software, hacking, denial-of-service attacks or other harmful actions.

Intellectual Property Infringement: Using the Services to infringe upon the intellectual property rights of others, including copyrights, trademarks or patents.

Harassment and Abuse: Engaging in harassment, abusive language or any behavior that could be deemed offensive or harmful to other users or SecurrHold staff.

Spamming and Unsolicited Communications: Sending unsolicited messages, advertisements or promotional materials through the Services without prior consent.

6.5 Communication and Cooperation

Responsive Communication: Users must respond promptly to any communications from SecurrHold regarding their account, transactions or compliance requirements.

Cooperation in Investigations: In the event of suspected fraudulent activities or regulatory inquiries, users must fully cooperate with SecurrHold by providing requested information and documentation.

Dispute Participation: Users involved in disputes must actively participate in the resolution process facilitated by SecurrHold, including providing necessary evidence and adhering to agreed-upon timelines.

6.6 Responsibility for Transactions

Authorization of Transactions: Users must ensure that they have the authority to initiate and authorize all transactions conducted through their SecurrHold account.

Accuracy of Transaction Details: Users are responsible for verifying the accuracy of all transaction details, including recipient information, amounts and conditions for fund release.

Compliance with Escrow Agreements: Users must adhere to the terms and conditions outlined in their specific Escrow Agreements, ensuring that all contractual obligations are met before requesting the release of funds.

6.7 Maintenance of Records

Record-Keeping: Users are encouraged to maintain detailed records of all transactions conducted through SecurrHold’s Services for their personal or business records.

Data Accuracy: Users must ensure that all data submitted to SecurrHold is accurate and reflects the true nature of their transactions and business activities.

6.8 Notification of Policy Changes

Awareness of Updates: Users are responsible for staying informed about any updates or changes to SecurrHold’s Policies and Terms& Conditions. Regularly reviewing the T&C ensures continued compliance.

Acceptance of Changes: Continued use of SecurrHold’s Services following any modifications to the Terms constitutes acceptance of those changes.

6.9 Indemnification

User Responsibility: Users agree to indemnify, defend and hold harmless SecurrHold, its affiliates, officers, directors, employees and agents from and against any and all claims, liabilities, damages, losses and expenses arising out of or in any way connected with:

User’s Use of Services: The use or misuse of SecurrHold’s Services.

Violation of Terms: Any breach of these Terms & Conditions.

Infringement of Rights: Any infringement of third-party rights, including intellectual property rights.

6.10 Cooperation in Legal Matters

Regulatory Compliance: Users must cooperate with SecurrHold in fulfilling any legal or regulatory requirements, including providing necessary information for audits, investigations or legal proceedings.

Notification of Legal Actions: Users must promptly inform SecurrHold of any legal actions or disputes that may affect their use of the Services.

7. Account Registration

7.1 Creating an Account

To access and utilize the Services provided by SecurrHold Escrow Limited ("SecurrHold", "we", "us" or "our"), you must create an account ("Account") by completing the registration process on our website or mobile application. By creating an Account, you agree to provide accurate and complete information as outlined in these Terms & Conditions.

Steps to Create an Account

Access the Registration Page:

- Navigate to the SecurrHold website or mobile application.

- Click on the "Sign Up" or "Register" button to begin the registration process.

Provide Required Information:

- Personal Information: Full name, date of birth, contact details (email address, phone number) and residential address.

- Business Information (if applicable): Business name, registration number, type of business entity and business address.

- Identification Documents: Upload valid identification documents as part of the Know Your Customer (KYC) process (e.g., national ID, passport, business licenses).

- Financial Information: Bank account details for deposit and disbursement of funds, including account number, bank name, branch and SWIFT/BIC code (if applicable).

Set Up Security Credentials:

- Username: Choose a unique username for your Account.

- Password: Create a strong password that meets our security requirements (e.g., minimum length, inclusion of uppercase and lowercase letters, numbers and special characters).

- Two-Factor Authentication (2FA): Enable 2FA for an additional layer of security (if available).

Agree to Terms:

- Review and agree to the Terms& Conditions and Privacy Policy by checking the respective boxes.

- Consent to receive electronic communications from SecurrHold.

Complete Registration:

- Click the "Submit" or "Create Account" button to finalize your registration.

- Verification: SecurrHold will verify the provided information and documents. You may receive a confirmation email or notification upon successful verification.

7.2 Account Verification

To ensure the security and integrity of our Services, SecurrHold employs a thorough verification process:

Identity Verification:

Individual Users: Submit valid identification documents (e.g., national ID, passport) and proof of residence (e.g., utility bill, bank statement).

Business Users: Provide business registration documents, certificates of incorporation and tax identification numbers.

Document Review:

SecurrHold will review the submitted documents for authenticity and accuracy.

Users may be required to participate in a verification call or provide additional documentation if necessary.

Approval Notification:

Upon successful verification, you will receive a notification confirming your Account activation.

If verification fails, you will be informed of the reasons and may be given an opportunity to rectify any issues.

7.3 Maintaining Your Account

Once your Account is created and verified, you are responsible for maintaining its security and ensuring that all information remains accurate and up-to-date.

Responsibilities Include:

Updating Information:

Promptly update your Account information to reflect any changes in personal or business circumstances, including contact details, banking information or authorized representatives.

Notify SecurrHold immediately of any changes to ensure uninterrupted access to Services.

Account Security:

Confidentiality of Credentials: Keep your username and password confidential. Do not share your login credentials with unauthorized individuals.

Strong Passwords: Use strong, unique passwords and update them regularly.

Two-Factor Authentication (2FA): If enabled, ensure that your 2FA methods are secure and accessible only to you.

Monitoring Account Activity:

Regularly monitor your Account for any unauthorized or suspicious activity.

Report any discrepancies or unauthorized access to SecurrHold immediately.

Device Security:

Ensure that the devices you use to access your Account are secure, protected by antivirus software and free from malware.

7.4 Account Suspension and Termination

SecurrHold reserves the right to suspend or terminate your Account under the following circumstances:

Violation of Terms:

Breaching any of the Terms & Conditions, including User Obligations and Prohibited Activities.

Inaccurate Information:

Providing false, misleading or incomplete information during registration or account maintenance.

Security Risks:

Engaging in activities that pose a security risk to SecurrHold or other users, such as unauthorized access attempts or sharing of credentials.

Regulatory Compliance:

Failing to comply with legal and regulatory requirements, including KYC and AML procedures.

Disputes and Investigations:

Involvement in disputes or investigations that require the suspension of Account access to protect the interests of all parties involved.

Consequences of Suspension or Termination:

- Access Restriction: You will no longer be able to access or use the Services.

- Pending Transactions: Any pending transactions will be handled in accordance with the Escrow Agreement and these Terms.

- Notification: SecurrHold will notify you of the suspension or termination, outlining the reasons and any necessary actions on your part.

7.5 Multiple Accounts

Single Account Policy: Users are permitted to maintain only one Account with SecurrHold. Creating multiple Accounts is strictly prohibited and may result in suspension or termination of all associated Accounts.

Merging Accounts: If you inadvertently create multiple Accounts, contact SecurrHold support to request merging of Accounts.

7.6 Account Recovery

In the event you lose access to your Account, SecurrHold provides procedures to recover it securely:

Password Reset:

Use the "Forgot Password" feature to reset your password via your registered email address.

Follow the instructions sent to your email to create a new password.

Account Recovery Assistance:

If you are unable to reset your password or regain access through standard procedures, contact SecurrHold support for further assistance.

You may be required to provide additional verification to confirm your identity before access is restored.

7.7 Privacy and Data Protection

Your privacy and the security of your personal and financial information are paramount to SecurrHold. Refer to Section 18: Privacy Policy for detailed information on how we collect, use, disclose and protect your data.

8. Payment Terms, Fees and Charges

8.1 Overview

This Payment Terms section ("Payment Terms") outlines the procedures and conditions under which deposits, fees and payments are made within the SecurrHold Escrow Limited ("SecurrHold", "we", "us" or "our") platform. It ensures transparency in financial transactions, detailing the responsibilities of both Party I and Party II, as well as the timelines and applicable taxes associated with our escrow services.

8.2 Deposits

Deposit Methods

Party I can deposit funds into their SecurrHold escrow account using the following methods:

Mobile Money Services:

Deposits via popular mobile money platforms such as M-Pesa, Airtel Money and others as integrated into the SecurrHold platform.

Bank Transfers:

- Local Bank Transfers: Transfers from Kenyan banks via M-Pesa, mobile banking or traditional bank transfers.

- International Bank Transfers: Transfers from foreign banks using SWIFT/BIC codes, subject to additional verification and processing times.

Electronic Payment Gateways:

Integration with secure payment gateways that support credit/debit card transactions, online banking and other electronic payment methods.

Deposit Verification

Confirmation of Receipt: Upon initiating a deposit of funds for holding, Party I will receive a confirmation notification from SecurrHold. Verification of funds may take up to 1-3 business days, depending on the chosen deposit method and banking institutions involved.

Fund Availability: Deposited funds will be available in the escrow account once verified by SecurrHold. Party I will be notified upon successful verification and availability of funds.

Minimum and Maximum Deposit Limits

Minimum Deposit: The minimum amount that can be deposited into an escrow account is KES 1,000.

Maximum Deposit: The maximum deposit per transaction is KES 999,998 subject to regulatory compliance and SecurrHold’s internal policies.

Bulk Deposits: For deposits exceeding the maximum limit, Party I may need to initiate multiple transactions or contact SecurrHold support for assistance.

8.3 Fees and Charges

Escrow Fee Structure

SecurrHold charges fees for providing escrow services. These fees are outlined below and are VAT exclusive. Applicable VAT will be added as per Kenyan tax laws.

Escrow Service Fees

Fees are calculated as a percentage of the total transaction amount based on the following tiered structure:

KES 1,000 - KES 30,000: KES 250 (Flat Fee)

KES 30,001 - KES 100,000: 0.75%

KES 100,001 - KES 300,000: 0.50%

KES 300,001 - KES 500,000: 0.39%

Above KES 500,000: 0.25%

Example: For a transaction amount of KES 200,000 the fee would be KES 200,000 * 0.50% = KES  1,000 (VAT exclusive)

Additional Service Fees

Installment Payments: If Party I elects to release funds to Party II in multiple installments, a Flat Installment Fee of KES 130 will be charged for each additional installment beyond the first payment.

Dispute Resolution Fee: A fixed fee of KES 1,000 per dispute resolution case.

Manual Review Fee: A fixed fee of KES 500 for transactions requiring manual verification.

Bank Transaction Fees

Deposit Fees: Any fees charged by banks or payment gateways for processing deposits including fees associated with currency conversion, if any, are the responsibility of Party I.

Responsibility for Release Fees

Standard Release of Funds: When funds are released from the escrow account to Party II in a single installment—whether through traditional bank transfers or mobile money services—the transaction fees for the release process will be borne by SecurrHold.

No Additional Costs for Party II: In standard transactions, Party II will receive the full amount of the funds being released as agreed in the Escrow Agreement, with no deduction for bank or mobile money processing fees except for situations outlined below regarding escrow fee responsibilities.

Escrow Fee Responsibilities

When Party II Incurs Escrow Fees: In certain agreements, it may be stipulated that Party II will cover the escrow fees entirely meaning that the escrow service fee will be deducted from the released amount before the funds are transferred to Party II.

When Escrow Fees Are Split: If the Escrow Agreement specifies that the escrow fees are to be shared between Party I and Party II, then the fees will be split according to the terms agreed upon and Party II's portion will be deducted from the released funds. The terms of the fee split will be clearly defined in the Escrow Agreement, ensuring both parties understand their financial obligations upfront.

Special Situations Where Party II May Incur Costs

- Expedited Release: If Party II requests an expedited release of funds that requires premium processing (e.g. same-day bank wire transfers or rush mobile money transfers), the additional costs for expedited services will be borne by Party II.

- Alternative Payment Methods: If Party II requests a non-standard payment method that incurs additional fees (e.g. international bank transfers with higher intermediary fees), those costs will be the responsibility of Party II.

- Third-Party Costs: In cases where Party II uses a third-party service (e.g. currency exchange services or payment intermediaries) to receive funds, the costs associated with these services will be incurred by Party II.

When transferring funds internationally, banks often rely on intermediary banks (also known as correspondent banks) to process the payment across borders. Each intermediary bank may charge a fee for facilitating the transaction. These fees are deducted from the transferred amount and may affect the final amount Party II receives.

Fee Payment

Automatic Deduction: Service fees are automatically deducted from the escrow account upon successful deposit of funds.

Separate Invoicing: Additional service fees for dispute resolution or manual reviews will be invoiced separately and must be settled within 5 days of the invoice date.

Refunds

Service Fee Refunds: Service fees are non-refundable once deducted except in cases where SecurrHold fails to provide the agreed-upon services.

Dispute Resolution Fees: Fees for dispute resolution are non-refundable regardless of the dispute outcome.

Exceptional Circumstances: In cases of error or overcharging, SecurrHold may issue refunds at its discretion after thorough investigation.

8.4 Payment Methods

Supported Payment Methods

SecurrHold supports the following payment methods for both deposits and release of funds:

Mobile Money Services: M-Pesa, Airtel Money and other integrated mobile money platforms.

Bank Transfers: Local and international bank transfers.

Electronic Payment Gateways: Credit/debit cards, online banking and other supported electronic payment methods.

Setting Up Payment Methods

Secure Setup: Users must securely set up their preferred payment methods within their SecurrHold account settings.

Verification: Payment methods may require verification through small test transactions or other authentication processes to ensure accuracy and security.

8.5 Payment Timelines

Deposit Processing Time

Mobile Money Deposits: Deposits via mobile money services such as M-Pesa are usually processed within 5 minutes to 4 hours, depending on the service provider.

Standard Processing: Deposits via bank transfers and electronic payment gateways are typically processed within 1-3 business days.

Release of Funds Processing Time

Mobile Money Release of Funds: Release of Funds to mobile money accounts are typically completed within 4 hours.

Standard Release of Funds: Once funds are approved for release, withdrawals via bank transfers are processed within 1-3 business days.

International Release of Funds: Withdrawals to international bank accounts may take up to 7 business days, subject to banking regulations and intermediary banks.

Fee Responsibilities for Release of Funds

Standard Situations: Transaction fees for releasing funds in a single installment (both to bank accounts and mobile money) are the responsibility of SecurrHold and Party II will receive the full amount without deductions unless otherwise agreed in the Escrow Agreement.

Installment Payment Fees: A Flat Installment Fee of KES 130 will be applied during release of funds to each additional installment beyond the first one, paid by Party I, to cover transaction costs incurred by SecurrHold when releasing funds to Party II.

When Party II Incurs Escrow Fees: If the Escrow Agreement specifies that Party II is responsible for the escrow fees, these fees will be deducted from the released funds.

Shared Escrow Fees: In situations where the escrow fees are shared between Party I and Party II, Party II's portion will be deducted from the released amount as per the agreed terms.

Exceptional Delays

Banking Holidays: Processing times may be extended during banking holidays or weekends.

Verification Delays: Additional verification steps or disputes may delay the processing of deposits and withdrawals.

8.6 Taxes

Applicable Taxes

Value Added Tax (VAT): All applicable VAT charges as per Kenyan tax laws are included in the service fees.

Withholding Tax: Depending on the nature of the transaction and the users' tax status, withholding tax may apply. Users are responsible for complying with all relevant tax obligations.

Tax Reporting

User Responsibility: Users are responsible for reporting and remitting any taxes applicable to their transactions as required by Kenyan law.

SecurrHold’s Obligations: SecurrHold may provide users with necessary documentation or statements to facilitate tax reporting but does not withhold or remit taxes on behalf of users unless required by law.

Tax Changes

Updates to Tax Laws: In the event of changes to tax laws or regulations, SecurrHold reserves the right to adjust fees and charges accordingly. Users will be notified of significant changes impacting their transactions.

8.7 Refunds and Cancellations

Refund Policy for the Principal Amount

Principle Amount Reversals: In the event that a transaction is canceled or a refund is requested, SecurrHold will refund or reverse the principal amount held in escrow to the appropriate party in accordance with the conditions outlined in the Escrow Agreement.

Service Failures: Refunds may be issued if SecurrHold fails to provide the agreed-upon services due to technical issues or errors on our part.

Conditions for Refunds: Refunds or reversals of the principal amount will only occur under the following circumstances:

- Transaction Cancellation: If both Party I and Party II mutually agree to cancel the transaction.

- Dispute Resolution: If a dispute is raised and resolved in favor of the party requesting the refund, according to the dispute resolution process outlined in the Escrow Agreement.

Escrow Fees and Refunds

Non-Refundable Fees: Escrow service fees charged by SecurrHold are generally non-refundable even in cases where the principal amount is refunded. The escrow fees cover the administrative and processing costs of handling the escrow service.

Exception: Escrow fees may only be refunded at the sole discretion of SecurrHold in special cases such as when a technical issue caused the transaction to fail before significant services were rendered.

Service fees related to successful transactions, dispute resolutions and manual reviews are non-refundable.

Process for Cancellations

Cancellation Request by Party I or II: Either party may request to cancel the transaction through SecurrHold platforms. Both parties must agree to the cancellation for the refund process to proceed.

Refund Timeline: Once a refund or cancellation request is approved, the principal amount will be refunded to the party as per the original deposit method. Refunds via bank transfers may take 1-3 business days and refunds via mobile money services may take up to 24 hours, subject to processing times.

Special Conditions for Partial Cancellations

Partial Refunds: In cases where only part of the transaction is canceled or a portion of the services is rendered, SecurrHold may refund a partial amount of the principle to the appropriate party, based on the progress of the transaction.

Escrow Fee Adjustments: Escrow fees will not necessarily be refunded in partial cancellations as they are tied to the full transaction processing. However, if fees are refunded, they will be proportionate to the extent of the cancellation at the discretion of SecurrHold.

8.8 Currency and Exchange Rates

Supported Currencies

Primary Currency: All transactions are conducted in Kenyan Shillings (KES).

Additional Currencies: Future support for additional currencies may be introduced. Users will be notified of any changes to supported currencies.

Exchange Rate Policies

Conversion Rates: If transactions involve currency conversion, SecurrHold will use the prevailing exchange rates at the time of the transaction, as provided by reputable financial sources. If the escrow transaction involves funds being transferred in a currency different from the one originally deposited by Party I, Party II may incur currency conversion charges. These charges will be based on the current exchange rates as well as any fees charged by the payment processor or bank handling the conversion.

Exchange Rate Fees: Any fees associated with currency conversion are included in the service fees outlined in Section 8.3 Fees and Charges

8.9 Security Measures for Payments

Secure Payment Processing

Encryption: All payment transactions are processed using industry-standard encryption technologies to protect sensitive financial information.

PCI DSS Compliance: SecurrHold complies with the Payment Card Industry Data Security Standard (PCI DSS) to ensure secure handling of credit/debit card information.

Fraud Prevention

Transaction Monitoring: SecurrHold employs advanced monitoring systems to detect and prevent fraudulent activities.

User Authentication: Multi-factor authentication (MFA) is required for high-value transactions to enhance security.

8.10 Dispute Handling Related to Payments

Identifying Payment Discrepancies

User Reports: Users must promptly report any discrepancies or unauthorized transactions related to their deposits, fees or release of funds.

SecurrHold Investigation: Upon receiving a report, SecurrHold will investigate the issue in accordance with the procedures outlined in Section 16: Dispute Resolution.

Resolution Process

Mediation: SecurrHold will facilitate mediation between the involved parties to resolve payment-related disputes.

Refunds and Adjustments: If a discrepancy is verified, SecurrHold will issue refunds or make necessary adjustments to the user’s account as appropriate.

9. Escrow Agreement

9.1 Overview of the Escrow Agreement

The Escrow Agreement is a legally binding contract between Party I (the party depositing funds) and Party II (the recipient of the funds), with SecurrHold acting as the neutral third-party escrow agent. The agreement defines the conditions under which funds are held, managed and released from escrow.

By using SecurrHold’s services, both Party I and Party II agree to the terms set forth in the Escrow Agreement as well as any specific terms or conditions outlined for individual transactions.

9.2 Conditions for Holding Funds in Escrow

Deposit Requirements

Funds are deposited by Party I into the escrow account managed by SecurrHold, which holds the funds securely until the conditions of the transaction are fulfilled.

All funds must be deposited using one of the approved payment methods, such as bank transfers or mobile money services and are subject to the Deposit Processing Times outlined in Section 8.5.

SecurrHold will confirm receipt of funds from Party I before the transaction proceeds.

9.3 Conditions for Release of Funds

Mutual Agreement

Funds will be released from escrow once Party I confirms that the conditions of the transaction have been met to their satisfaction. Party I initiates the release of funds through SecurrHold platforms. Party II may also request the release of funds and upon this request, Party I will be notified to proceed with the release.

Automatic Release

In cases where the Escrow Agreement includes an automatic release clause, funds will be automatically released to Party II if all conditions are met and no dispute has been raised by Party I within the agreed-upon timeframe.

Manual Review

If the transaction requires a manual review (e.g., for condition verification or compliance checks), SecurrHold will conduct a thorough review before releasing the funds. Party I and Party II will be notified of any delays caused by this process.

9.4 Dispute Resolution Process

Raising a Dispute

If either Party I or Party II disputes the fulfillment of the transaction conditions, a formal dispute can be raised with SecurrHold. This must be done either in writing and within the time frame specified in the Escrow Agreement or through SecurrHold’s platforms

Holding of Funds During Dispute

Once a dispute is raised, SecurrHold will hold the funds in escrow until the dispute is resolved. No release of funds will occur until both parties reach an agreement or a resolution is determined through the dispute resolution process.

Dispute Resolution Procedures

SecurrHold may facilitate communication between Party I and Party II to encourage an amicable resolution. However, if the dispute cannot be resolved through negotiation, the terms of the Escrow Agreement will dictate the next steps, which may include:

- Arbitration or Mediation: As outlined in the Escrow Agreement, disputes may be subject to arbitration or mediation as a means of resolving the conflict.

- Legal Action: In cases where arbitration or mediation fails, either party may pursue legal action according to the applicable laws and jurisdiction specified in the Escrow Agreement.

9.5 Amendments to the Escrow Agreement

Modifications by Mutual Consent

Any changes or amendments to the terms of the Escrow Agreement must be agreed upon by both Party I and Party II and submitted to SecurrHold. The modified terms will only take effect once SecurrHold confirms receipt and approval of the changes.

SecurrHold’s Rights to Modify Standard Terms

SecurrHold reserves the right to modify its standard terms and conditions for future escrow agreements. However, any such changes will not affect transactions already governed by an existing Escrow Agreement unless expressly agreed by both parties.

9.6 Fees and Responsibilities Under the Escrow Agreement

Escrow Fees

Escrow fees will be charged based on the agreed fee structure (as outlined in Section 8.3). In the event that the Escrow Agreement specifies that Party II is responsible for these fees, the amount will be deducted from the released funds. If the fees are shared, they will be split as per the terms in the agreement.

Special Situations

In certain situations, additional fees (such as those for expedited releases or non-standard payment methods) may apply. These will be handled as outlined in Section 8.3.

9.7 Termination of the Escrow Agreement

Termination by Mutual Consent

The Escrow Agreement may be terminated by mutual consent of both Party I and Party II. Upon termination, any remaining funds in escrow will be refunded to the depositing party minus any applicable escrow fees or charges.

Termination by SecurrHold

SecurrHold reserves the right to terminate the Escrow Agreement in cases of suspected fraud, illegal activity or breach of the terms. In such cases, SecurrHold will hold the funds until the dispute or investigation is resolved.

9.8 Legal Compliance

Both Party I and Party II agree to comply with all relevant laws and regulations, including Kenyan financial laws and any anti-money laundering (AML) and know-your-customer (KYC) requirements. SecurrHold may request additional documentation or verification at any stage to ensure compliance.

10. Prohibited Activities

To maintain the security, integrity and legality of transactions facilitated by SecurrHold, users (both Party I and Party II) are prohibited from engaging in the following activities when using the escrow services:

10.1 Illegal or Unlawful Transactions

Criminal Activity: The platform cannot be used for transactions related to illegal activities, including but not limited to money laundering, fraud, bribery, extortion or terrorism financing.

Prohibited Goods/Services: SecurrHold does not support the sale or transfer of illegal goods, including counterfeit products, drugs, unlicensed firearms, human trafficking or any items prohibited by local, national or international law.

Unlawful Financial Schemes: The escrow service cannot be used for pyramid schemes, Ponzi schemes or other fraudulent financial setups.

10.2 Violating Intellectual Property Rights

Counterfeit Goods: SecurrHold prohibits the sale or exchange of counterfeit or pirated goods, including unauthorized copies of software, music, videos and other protected works.

Intellectual Property Infringement: Users may not engage in transactions that infringe on third-party intellectual property rights, including the unauthorized use or distribution of copyrighted or trademarked materials.

10.3 Fraudulent or Deceptive Behavior

False Information: Users must not provide false, inaccurate or misleading information in any part of the transaction process.

Manipulation or Deception: Attempting to manipulate, deceive or exploit another party in a transaction (e.g. falsifying the completion of a transaction or service) is strictly prohibited.

10.4 Sanctions Violations

Restricted Parties: Transactions with parties listed on international sanctions lists (e.g. United Nations, European Union, U.S. Department of Treasury's OFAC list) are prohibited. Users may not engage in transactions involving countries or persons subject to economic or trade sanctions.

10.5 Use of Funds for Unauthorized Purposes

Misuse of Funds: Escrow funds may only be used for the purpose explicitly agreed upon in the escrow agreement. Misuse of funds for unauthorized purposes (e.g. gambling, speculative investments) is not allowed.

10.6 Exploiting Platform Vulnerabilities

Hacking or Tampering: Users are prohibited from attempting to hack, tamper with or exploit vulnerabilities in the SecurrHold platform, including attempting to bypass security features or manipulate transaction processes.

Botting or Automated Systems: Unauthorized use of bots or automated systems to interact with the platform or perform transactions is not allowed.

10.7 Violation of Payment System Rules

Prohibited by Payment Processors: Transactions involving payment methods prohibited by payment gateways or banks, such as certain high-risk industries (e.g. gambling, adult services), are not allowed.

Unlawful Chargebacks: Initiating a chargeback on a legitimate transaction without proper cause or using chargebacks to avoid fulfilling obligations is prohibited.

10.8 Privacy Violations

Unlawful Data Collection: Collecting or attempting to collect personal data from other users without consent is strictly forbidden.

Sharing Confidential Information: Users must not share confidential information related to another party's financial details, identity or transaction details without explicit consent.

10.9 Circumvention of Escrow Fees

Avoiding Fees: Any attempt to circumvent or avoid paying escrow fees, including encouraging other users to complete a transaction outside of the escrow platform, is prohibited.

10.10 Discrimination and Harassment

Abusive Conduct: Users are prohibited from engaging in discriminatory, harassing or abusive behavior towards other parties during any part of the transaction process.

Hate Speech or Harmful Conduct: Transactions or communications promoting hate speech, violence or harm to others based on race, religion, ethnicity, gender or any other protected status are strictly prohibited.

10.11 Misuse of SecurrHold Services

Prohibited Business Types: Transactions related to businesses deemed too risky or inappropriate by SecurrHold (e.g. adult entertainment, sale of illegal substances, weapons) will not be supported.

Unauthorized Marketing: Using SecurrHold’s platform to promote unrelated products or services or sending spam or unsolicited messages to other users, is not allowed.

10.12 Consequences of Engaging in Prohibited Activities

SecurrHold reserves the right to take immediate action against users who engage in any of the above prohibited activities. Such actions may include:

- Suspension or Termination: Accounts involved in prohibited activities may be suspended or permanently terminated without notice.

- Legal Action: SecurrHold may take legal action or cooperate with law enforcement authorities to pursue criminal or civil penalties against violators.

- Funds Forfeiture: Funds held in escrow may be forfeited or frozen if they are found to be connected with illegal or prohibited activities.

11. Security Measures

At SecurrHold, the security of our users' data and transactions is of paramount importance. We have implemented rigorous security protocols to ensure that all transactions are protected and user information remains confidential. This section outlines the key measures in place to safeguard user data and the escrow process.

11.1 Data Encryption

End-to-End Encryption: All sensitive user data and transaction information are encrypted using industry-standard 256-bit SSL (Secure Socket Layer) encryption, ensuring that data is secure both in transit and at rest.

Encryption of Stored Data: User data, including personal information and transaction history, is encrypted when stored on our servers, ensuring that even in the event of a breach, the information remains protected.

11.2 Multi-Factor Authentication (MFA)

Mandatory MFA: To ensure only authorized individuals access user accounts, SecurrHold requires multi-factor authentication (MFA) for all user logins. This involves a combination of something the user knows (password) and something the user has (e.g. a code sent to their mobile device).

Session Expiry: For added security, user sessions automatically expire after a period of inactivity, requiring users to re-authenticate to regain access.

11.3 Secure Account Access

Password Security: Users must create strong passwords, which are securely hashed and stored on our servers. Passwords must meet minimum complexity requirements, such as a combination of upper and lower-case letters, numbers and special characters.

Account Lockout: After a series of unsuccessful login attempts, user accounts are temporarily locked to prevent brute force attacks.

IP and Device Monitoring: SecurrHold monitors login attempts by analyzing IP addresses and devices to detect suspicious login behavior. Users are notified of any unauthorized attempts to access their account.

11.4 Identity Verification (KYC)

Know Your Customer (KYC) Compliance: SecurrHold adheres to strict KYC regulations to verify the identity of users before allowing access to the escrow platform. Users may be required to submit government-issued ID and proof of address to ensure the legitimacy of transactions.

Enhanced Verification for Large Transactions: For high-value transactions, SecurrHold may require additional identity verification to safeguard against fraud and ensure compliance with anti-money laundering (AML) regulations.

11.5 Fraud Detection and Prevention

Automated Fraud Detection Systems: Our platform uses advanced fraud detection algorithms that monitor for unusual or suspicious activities across user accounts and transactions. These systems can flag, delay or block suspicious transactions until further investigation.

Manual Review: In addition to automated systems, SecurrHold's security team may manually review transactions flagged as high-risk to ensure the safety and legitimacy of funds being transferred.

11.6 Transaction Security

Escrow Account Isolation: Funds held in escrow are kept in isolated accounts, separate from SecurrHold’s operating accounts, ensuring that user funds are protected from financial risk or company insolvency.

Transaction Authentication: Every transaction requires dual authentication, with both Party I and Party II verifying the terms of the agreement before any funds can be released.

Blockchain Integration (if applicable): Where relevant, SecurrHold may integrate blockchain technology to provide a tamper-proof record of transactions, enhancing transparency and security.

11.7 Secure Payment Gateways

Trusted Payment Partners: SecurrHold uses only reputable and secure payment gateways and banking institutions to process deposits and release funds, ensuring that user funds are transferred safely and without risk of exposure to fraud.

PCI Compliance: SecurrHold complies with the Payment Card Industry Data Security Standard (PCI DSS) to protect credit card and payment information during transactions.

11.8 Data Privacy and Confidentiality

Data Privacy Policy: All personal data is handled in compliance with relevant data protection regulations, such as the Kenya Data Protection Act and GDPR (General Data Protection Regulation) where applicable. We do not share or sell user data with third parties without explicit consent.

Restricted Access: Only authorized personnel within SecurrHold have access to sensitive user information and strict controls are in place to prevent unauthorized access, both internally and externally.

11.9 Continuous Security Monitoring and Audits

24/7 Monitoring: SecurrHold employs real-time monitoring systems to detect and respond to potential security threats around the clock. This proactive approach allows for immediate action in the event of any suspicious activity.

Regular Security Audits: Our security protocols are regularly audited by independent security firms to identify and resolve potential vulnerabilities. We conduct both internal and external penetration tests to ensure our systems are secure.

Patch Management: We have a dedicated team responsible for monitoring and applying security updates and patches to our software and servers, ensuring protection against known vulnerabilities.

11.10 Backup and Disaster Recovery

Data Backups: User data and transaction records are backed up daily and stored in secure, geographically redundant locations to protect against data loss due to system failures or natural disasters.

Disaster Recovery Plan: SecurrHold has a comprehensive disaster recovery plan in place to restore services in the event of a system failure, ensuring that transactions and user data are safe and can be recovered promptly.

11.11 User Responsibility

User Vigilance: While SecurrHold provides robust security measures, users are also responsible for maintaining the security of their accounts. This includes:

- Creating strong passwords.

- Enabling multi-factor authentication.

- Keeping login credentials confidential and avoiding phishing scams.

11.12 Consequences of Security Breaches

In the unlikely event of a security breach that affects user data or transactions, SecurrHold will:

- Immediately notify affected users.

- Take steps to mitigate the breach, including freezing suspicious accounts and funds.

- Work closely with law enforcement and other regulatory bodies to address the situation.

12. Liability and Disclaimers

This section outlines the limitations on SecurrHold's liability in connection with its services. While we strive to provide a secure and reliable platform, certain risks are inherent to the use of escrow services. SecurrHold's liability is limited under specific circumstances to protect the company from undue risks while ensuring users understand their responsibilities.

12.1 General Disclaimer

No Guarantee of Outcome: SecurrHold facilitates the escrow process but does not guarantee the success or completion of transactions. SecurrHold is not responsible for the quality, legality or delivery of goods and services involved in the transaction between Party I and Party II.

Service Availability: While we endeavor to ensure that the platform is available at all times, we cannot guarantee uninterrupted access to the services. SecurrHold is not liable for any unavailability of the platform due to technical issues, scheduled maintenance or events beyond our control.

12.2 Delays in Release of Funds

Processing Delays: SecurrHold is not liable for delays in the release of funds due to banking holidays, verification processes, intermediary bank delays or issues related to mobile money services. While we work to adhere to the timelines provided in the Terms& Conditions, delays may occur outside our control.

Dispute-Related Delays: If a dispute arises between Party I and Party II, SecurrHold may delay the release of funds pending investigation or resolution. SecurrHold is not liable for any losses or inconveniences caused by delays resulting from dispute investigations.

12.3 Loss of Funds

Unauthorized Transactions: SecurrHold is not liable for any loss of funds resulting from unauthorized access to a user's account due to negligence on the user's part, including weak passwords, phishing attacks or failure to enable multi-factor authentication.

Banking Errors: SecurrHold is not responsible for errors made by banks, payment gateways or mobile money providers that result in the loss or misplacement of funds. Users must resolve such issues directly with the relevant financial institution.

Force Majeure: SecurrHold is not liable for any losses, delays or failure to perform its obligations due to circumstances beyond its control (e.g. natural disasters, acts of war, government actions or technical failures caused by third parties).

12.4 Limited Liability for Direct Damages

Cap on Liability: In the event that SecurrHold is found liable for any direct damages arising from the use of its services, the total liability is capped at the amount of fees collected by SecurrHold for the specific transaction in question. SecurrHold will not be liable for any amounts beyond this limit.

Exclusion of Indirect Damages: SecurrHold is not liable for any indirect, incidental, consequential or punitive damages, including but not limited to loss of profits, business interruption or reputational harm, even if advised of the possibility of such damages.

12.5 Disclaimers for Third-Party Services

Payment Providers: SecurrHold uses third-party payment processors, banks, and mobile money providers to facilitate deposits and fund releases. SecurrHold disclaims any liability for issues arising from the performance, security or availability of these third-party services.

Third-Party Integrations: In cases where the platform integrates with external services or APIs, SecurrHold is not responsible for the performance, accuracy or availability of those third-party integrations.

12.6 Dispute Resolution Limitations

Escrow Disputes: SecurrHold provides dispute resolution mechanisms for transactions where the parties disagree about the fulfillment of escrow conditions. However, SecurrHold’s role is limited to acting as a neutral intermediary. SecurrHold does not take responsibility for resolving disputes related to the quality, performance or delivery of goods and services. The final decision in such disputes rests with the parties involved or an independent arbitrator.

User Responsibility for Legal Disputes: SecurrHold is not responsible for resolving legal disputes that may arise between Party I and Party II outside the scope of the escrow agreement. Users must seek independent legal counsel for such matters.

12.7 No Warranty for Services

As-Is Service: SecurrHold provides its services on an "as-is" and "as-available" basis. We make no representations or warranties of any kind, either express or implied, regarding the operation of the platform or the information, content or materials provided through the platform.

No Guarantee of Security: While we implement robust security measures to protect users, SecurrHold does not warrant that the platform is free from vulnerabilities, viruses or other harmful components. Users are responsible for maintaining adequate security measures on their devices.

12.8 User Responsibility for Compliance

Compliance with Laws: Users are responsible for ensuring that their use of SecurrHold’s services complies with all applicable local, national and international laws. SecurrHold disclaims liability for any penalties, fines or legal consequences arising from illegal or improper use of the platform.

Tax Obligations: SecurrHold is not responsible for any tax obligations (e.g., VAT, excise duties) that users may incur as a result of their transactions. Users must independently comply with their tax responsibilities under relevant tax laws.

12.9 Liability for Misuse of Platform

User Misconduct: Users found to be using the SecurrHold platform for prohibited activities, as outlined in Section 10, are fully responsible for any legal or financial consequences that result from such misuse. SecurrHold disclaims any responsibility for harm caused by the user’s misconduct.

Breach of Terms: If a user breaches the Terms& Conditions, SecurrHold is not liable for any resulting loss or damage. Users may have their accounts suspended or terminated as a result of violating the platform’s terms.

12.10 Indemnification

User Indemnity: Users agree to indemnify and hold SecurrHold, its officers, employees and agents harmless from any claims, liabilities, damages or expenses (including legal fees) arising from the user’s use of the platform, breach of these Terms& Conditions or violation of any applicable law.

13. Termination of Service

This section outlines the conditions under which user accounts or services may be terminated by either SecurrHold or the user. Termination of service may be initiated for various reasons, including violations of the Terms& Conditions, user inactivity or at the user’s request. These terms ensure both parties understand their rights and obligations in the event of service termination.

13.1 Termination by User

Voluntary Termination: Users may terminate their SecurrHold account at any time by providing notice to SecurrHold via the platform or customer support. Upon termination, any active escrow transactions must be completed or cancelled in accordance with the terms of the escrow agreement.

Pending Escrow Agreements: If the user has pending escrow transactions, these must either be completed or cancelled before the account can be fully terminated. Any funds held in escrow will be managed according to the terms of the escrow agreement before closure.

No Refunds for Early Termination: Terminating an account does not entitle the user to a refund of any escrow fees paid for services already rendered or in process, unless otherwise specified in the escrow agreement.

13.2 Termination by SecurrHold

Violation of Terms& Conditions: SecurrHold may terminate or suspend a user’s account immediately, without notice, if the user is found to be in violation of any of the platform’s Terms& Conditions. This includes, but is not limited to, engaging in prohibited activities (Section 10) or using the platform for illegal purposes.

Fraud or Misuse: If SecurrHold detects fraudulent activities, misuse of the platform or attempts to manipulate the escrow process, the user’s account may be permanently terminated. SecurrHold reserves the right to freeze funds held in escrow during any investigation of suspected fraud.

Failure to Provide Accurate Information: Users are required to provide accurate and up-to-date information during registration and throughout their use of the platform. If it is determined that a user has provided false or misleading information, SecurrHold may terminate the user’s account.

Account Inactivity: SecurrHold reserves the right to terminate accounts that have been inactive for a prolonged period (e.g. 18 months). Prior to termination for inactivity, SecurrHold will notify the user and provide instructions on how to reactivate the account.

13.3 Termination for Legal or Regulatory Reasons

Compliance with Law: SecurrHold may terminate user accounts if required by law or regulatory authorities. This may occur if the user is involved in activities that violate local, national or international laws or if SecurrHold is required to comply with legal or regulatory orders.

Regulatory Compliance: If regulatory changes make it unlawful or impractical for SecurrHold to provide its services in certain jurisdictions, user accounts in those regions may be terminated or restricted.

13.4 Consequences of Termination

Account Deactivation: Upon termination, the user’s access to the SecurrHold platform will be revoked, and all pending transactions will be handled according to the terms of the escrow agreement. SecurrHold will provide instructions to facilitate the closure of active transactions.

Handling of Funds in Escrow: If the user’s account is terminated with funds still held in escrow, SecurrHold will proceed according to the escrow agreement, ensuring that funds are either released to the appropriate party or returned to the depositor if the escrow conditions are not met.

Retention of Data: SecurrHold may retain certain user data for a period of time following termination in order to comply with legal obligations, resolve disputes or enforce the Terms& Conditions. After this period, user data will be securely deleted in accordance with our privacy policy.

13.5 Appeal of Termination

Appeal Process: Users whose accounts are terminated due to suspected violations or misuse may appeal the termination by submitting a formal request to SecurrHold’s support team. SecurrHold will review the appeal and provide a final decision, which may include reinstating the account or upholding the termination.

No Right to Reinstatement: SecurrHold reserves the right to refuse to reinstate an account following termination, particularly in cases of severe violations, fraud or illegal activities.

13.6 Limitation of Liability

No Liability for Termination: SecurrHold is not liable for any loss or damage suffered by the user as a result of account termination, provided that the termination was carried out in accordance with these Terms& Conditions.

Release of Funds: In the event of termination, SecurrHold will act in accordance with the escrow agreements in place to ensure the proper release of funds. SecurrHold’s liability is limited to the actions specified under the Terms& Conditions and applicable laws.

14. Amendments to Terms

This section outlines SecurrHold’s policy for updating or amending the Terms& Conditions. As the platform evolves and legal or operational requirements change, SecurrHold reserves the right to modify these terms to ensure compliance and improve the user experience. It is the responsibility of users to stay informed of any changes to the Terms& Conditions.

14.1 Right to Amend

SecurrHold’s Authority to Amend: SecurrHold reserves the right to update, modify or amend these Terms& Conditions at any time, at its sole discretion. Amendments may be made to comply with changes in applicable laws, improve service functionality or reflect new business practices.

14.2 Notice of Changes

User Notification: In the event of material changes to the Terms& Conditions, SecurrHold will notify users by providing notice through the platform, via email, or any other reasonable communication method. Users are encouraged to review the updated terms when notified.

Timeline for Implementation: Any changes to the Terms& Conditions will take effect 30 days after notice is provided, unless immediate changes are required by law or regulatory action. In such cases, changes may be implemented immediately.

14.3 Continued Use Constitutes Acceptance

Implied Acceptance of Changes: Continued use of the SecurrHold platform following the implementation of any changes to the Terms& Conditions constitutes the user’s acceptance of the revised terms. Users who do not agree with the amendments must cease using the service and close their accounts.

14.4 Review of Terms

User Responsibility: It is the responsibility of users to periodically review the Terms& Conditions to stay informed of any amendments. SecurrHold encourages users to regularly check the platform or their registered email for updates.

14.5 Material vs. Non-Material Changes

Material Changes: Material changes are defined as significant alterations to the terms that could impact user rights or obligations, such as changes to fees, payment terms or dispute resolution mechanisms. These will be highlighted in any user notification of amendments.

Non-Material Changes: SecurrHold may also make non-material changes to the Terms& Conditions, such as minor wording adjustments or clarifications. These changes will not require prior notification but will be reflected in the latest version of the terms posted on the platform.

14.6 User Objections to Changes

Right to Discontinue: If a user does not agree to any amendments made to the Terms& Conditions, they have the right to discontinue their use of the SecurrHold platform by terminating their account (as outlined in Section 13). The termination of service will follow the rules specified in the Terms& Conditions.

14.7 Regulatory or Legal Compliance

Changes for Legal Compliance: In some cases, amendments to the Terms& Conditions may be required to comply with new laws, regulations or government directives. These changes may take effect immediately and SecurrHold will notify users accordingly.

15. Dispute Resolution

SecurrHold aims to provide a streamlined and accessible dispute resolution process that allows both parties to efficiently resolve disputes without the need for lengthy or costly external interventions. The platform offers built-in tools to raise, manage and settle disputes directly through the user interface, ensuring ease of use and transparency. SecurrHold will only intervene in extreme cases where the platform-driven resolution process fails.

15.1 Raising a Dispute

Initiating the Dispute: Either Party I (the payer) or Party II (the receiver) may initiate a dispute through the SecurrHold platform if they believe the terms of the escrow agreement have not been met. This can be done by selecting the relevant transaction and clicking the "Raise Dispute" button within the user's dashboard.

Dispute Window: Users can raise a dispute at any point before the release of funds, but must do so within 5 days after the release conditions have been marked as "complete". After this window, disputes will no longer be allowed and funds will be released in accordance with the agreement.

15.2 Automatic Notification and Response

Notification to Other Party: Once a dispute is raised, the opposing party will be notified immediately via the platform and email. They will have 48 hours to respond to the dispute claim through the platform by providing their version of the issue and uploading any supporting evidence (e.g. receipts, communication logs or contracts).

Platform-Driven Exchange: Both parties can communicate within the platform’s dispute resolution interface, where they can upload evidence, negotiate settlement terms and track the status of the dispute. All communications will be logged and made available to both parties to ensure transparency.

15.3 Resolution Options

1. Mutual Agreement: The simplest way to resolve a dispute is for both parties to come to a mutual agreement using the platform’s negotiation tools. Either party can propose new terms (e.g. partial refunds, extended timelines) and both parties must consent to these changes to settle the dispute.

2. Predefined Resolution Options: SecurrHold’s platform will offer predefined resolution options that can help guide parties to a settlement. These options include:

- Partial Refund: Party I releases a portion of the funds to Party II while keeping the remainder.

- Full Refund: Party I requests the full refund of funds held in escrow.

- Revised Delivery: Party II agrees to amend or complete the agreed-upon transaction and both parties extend the escrow period.

- Mediation by SecurrHold: If both parties cannot agree, they can request SecurrHold to act as a mediator to review the case and propose a fair resolution.

15.4 Evidence Submission and Review

Platform Evidence Submission: Both parties are encouraged to provide all necessary evidence directly on the platform within 72 hours of the dispute being raised. This may include transaction receipts, messages, proof of delivery or any other documentation that supports their case.

Review Process: SecurrHold will review evidence submissions for completeness, ensuring both parties have submitted required materials before proceeding. In cases where sufficient evidence is not provided, the dispute may be ruled in favor of the compliant party.

15.5 Settlement Process

Platform-Based Arbitration: SecurrHold will feature an arbitration tool that uses given criteria to settle disputes. Based on the evidence provided, a fair outcome (e.g. release of full funds, partial funds or refund) will be reached based on the terms of the escrow agreement.

Time-Limited Response Period: Both parties will be given a limited response period (72 hours) to agree to or challenge the proposed resolution. If neither party responds, the decision will be considered final and the funds will be disbursed accordingly.

15.6 SecurrHold Mediation (Optional)

When Mediation is Needed: If both parties are unable to settle the dispute through arbitration or mutual agreement within the platform, they can request mediation from SecurrHold. A neutral representative from SecurrHold will review the case, including all evidence and communication logs and propose a solution.

Mediation Fees: In the event that SecurrHold mediation is required, a nominal mediation fee may be charged to one or both parties, as outlined in the platform’s fee structure.

15.7 Escalation to External Arbitration

When to Escalate: In extreme cases where platform-based dispute resolution and SecurrHold mediation do not resolve the dispute, parties can choose to escalate the issue to external arbitration, which will be conducted by an independent arbitrator agreed upon by both parties.

Cost of Arbitration: External arbitration fees will be the responsibility of the disputing parties and will be handled outside the SecurrHold platform.

15.8 Binding Agreement

Platform Decision is Final: By using the SecurrHold platform, users agree that the resolution proposed by the platform-based arbitration or SecurrHold mediation is binding. Funds will be released or refunded according to the outcome and no further claims can be made through the platform.

Mutual Release of Claims: Upon final settlement of the dispute, both parties will release each other from any further claims or liabilities related to the transaction.

16. Governing Law

This section outlines the legal framework and jurisdiction that governs the Terms& Conditions of SecurrHold Escrow Limited. By using the platform, users agree to be bound by the applicable laws and all transactions will be regulated according to this legal framework.

16.1 Applicable Law

Jurisdiction: These Terms& Conditions are governed by and construed in accordance with the laws of the Republic of Kenya. All disputes arising out of or in connection with the use of the SecurrHold platform, services or escrow agreements will be subject to the exclusive jurisdiction of the courts of Kenya.

16.2 Compliance with Local Laws

User Responsibility: Users are responsible for ensuring that their use of SecurrHold’s services complies with all applicable local, state and national laws within their respective jurisdictions. SecurrHold does not provide legal advice regarding the legality of transactions and users are encouraged to consult with legal professionals where necessary.

16.3 Cross-Border Transactions

International Use: For users conducting cross-border transactions, SecurrHold will still adhere to Kenyan laws as the governing legal framework. However, users are advised to ensure that the nature of their transactions complies with international financial regulations and the laws of their respective countries.

16.4 Dispute Resolution Venue

Venue for Legal Action: Any legal action related to disputes that cannot be resolved through the platform’s Dispute Resolution process or external arbitration must be filed in the appropriate court in Kenya. Users hereby consent to the exclusive jurisdiction of these courts for such legal proceedings.

16.5 Regulatory Compliance

Compliance with Financial Regulations: As a financial service provider, SecurrHold adheres to all relevant Kenyan financial regulations, including those governing money transfers, anti-money laundering (AML) laws and know your customer (KYC) requirements. Users agree to comply with these regulations when using the platform.

16.6 Changes to Governing Law

Amendments in Legal Framework: In the event that Kenyan laws or regulations applicable to SecurrHold's services change, SecurrHold reserves the right to amend these Terms& Conditions accordingly. Users will be notified of any such changes, as outlined in Section 14, Amendments to Terms.

17. Privacy Policy

This section references SecurrHold’s Privacy Policy, which governs the collection, storage and use of personal data provided by users. By using the SecurrHold platform, users consent to the processing of their personal information as outlined in the Privacy Policy.

17.1 Data Collection

Personal Data: SecurrHold collects personal data from users as necessary to provide escrow services. This includes, but is not limited to, names, contact information, financial details and transaction history.

Purpose of Data Collection: The personal data collected is used to facilitate the escrow process, verify user identities, comply with regulatory requirements and improve the functionality of the platform.

17.2 Data Use

Limited Use: SecurrHold only uses personal data for purposes directly related to the provision of its services, including the facilitation of transactions, verification of identities (KYC) and ensuring compliance with anti-money laundering (AML) laws.

Third-Party Access: Personal data may be shared with trusted third-party service providers, such as banks or payment processors, but only to the extent necessary to complete a transaction or meet legal obligations. SecurrHold does not sell or share personal data for marketing purposes.

17.3 Data Protection

Security Measures: SecurrHold employs industry-standard encryption and security measures to protect user data from unauthorized access, breaches or loss. All personal and financial data is stored securely in compliance with data protection laws.

User Responsibility: Users are responsible for safeguarding their login credentials and ensuring that their account information is up to date and accurate.

17.4 User Consent

Agreement to Privacy Policy: By using SecurrHold’s services, users agree to the terms of the Privacy Policy and consent to the collection, processing and storage of their personal data as necessary to perform the services.

17.5 User Rights

Access and Modification: Users have the right to access their personal data, request modifications or request deletion of their data in accordance with the SecurrHold Privacy Policy. Such requests can be made directly through the platform or by contacting SecurrHold’s customer support team.

Data Portability: Where applicable, users may request that their personal data be transferred to another service provider in a structured and machine-readable format.

17.6 Retention of Data

Data Retention Period: SecurrHold will retain personal data only for as long as necessary to fulfill the purposes for which it was collected or as required by law. After the retention period has expired, personal data will be securely deleted.

17.7 Changes to the Privacy Policy

Policy Updates: SecurrHold reserves the right to amend the Privacy Policy from time to time, with any material changes being communicated to users in accordance with Section 14 of these Terms& Conditions. Continued use of the platform following changes to the Privacy Policy constitutes acceptance of the updated terms.

17.8 Regulatory Compliance

Compliance with Data Protection Laws: SecurrHold complies with all applicable data protection laws, including the Data Protection Act, 2019 of Kenya. Users can review the full Privacy Policy for detailed information on how SecurrHold ensures compliance with these regulations.

18. Intellectual Property

This section outlines the intellectual property rights associated with SecurrHold, including its brand, content and platform technologies. By using SecurrHold’s services, users acknowledge and agree to the protection of these rights under applicable intellectual property laws.

18.1 Ownership of Intellectual Property

SecurrHold Content: All content, materials, trademarks, logos, design elements and software used on the SecurrHold platform are the exclusive property of SecurrHold Escrow Limited or its licensors. This includes, but is not limited to, the website design, text, graphics, logos, images and software used in the operation of the platform.

License to Use: SecurrHold grants users a limited, non-exclusive, non-transferable and revocable license to access and use the platform for its intended purposes (i.e. using escrow services), subject to compliance with these Terms& Conditions.

18.2 Restrictions on Use

Prohibited Uses: Users are prohibited from copying, modifying, distributing, transmitting, displaying, performing, reproducing, publishing, licensing, creating derivative works from, transferring or selling any of SecurrHold’s content, trademarks or software without express written permission from SecurrHold.

Reverse Engineering: Users are not permitted to reverse engineer, decompile or disassemble any part of SecurrHold’s platform or attempt to derive source code from any software used in its services.

18.3 User-Generated Content

Ownership of User Data: While users retain ownership of the data they provide to SecurrHold (such as personal information and transaction details), they grant SecurrHold a non-exclusive, royalty-free license to use such data for the purposes of delivering services and complying with legal requirements.

18.4 Trademarks

SecurrHold Trademarks: The SecurrHold name, logo and any other marks related to the company’s brand are registered or unregistered trademarks of SecurrHold Escrow Limited. Unauthorized use of these trademarks is strictly prohibited.

18.5 Third-Party Intellectual Property

Third-Party Content: SecurrHold may display third-party content or links on its platform (e.g. payment processors or financial institutions). All third-party intellectual property remains the property of its respective owners and users must comply with any terms or restrictions associated with such content.

18.6 Intellectual Property Infringement

Claims of Infringement: If users believe that their intellectual property rights have been infringed by content on the SecurrHold platform, they may contact SecurrHold with a detailed notice of the alleged infringement. SecurrHold will respond in accordance with applicable intellectual property laws.

19. Force Majeure

This section outlines how SecurrHold Escrow Limited is not liable for any failure or delay in performing its obligations under the Terms& Conditions due to circumstances beyond its control.

19.1 Definition of Force Majeure

Force Majeure Events: SecurrHold shall not be held responsible for delays or failures in performance resulting from circumstances beyond its reasonable control. These events include, but are not limited to:

- Natural disasters (e.g. earthquakes, floods, hurricanes or fires)

- Acts of war, terrorism or civil unrest

- Governmental actions or regulations

- Labor strikes or lockouts

- Epidemics, pandemics or public health emergencies

- Power outages or interruptions in telecommunications

- Failures of third-party service providers or banking systems

- Internet or communication failures

19.2 Suspension of Obligations

Suspension of Services: In the event of a Force Majeure event, SecurrHold may suspend the provision of services without liability. SecurrHold will make reasonable efforts to resume normal operations as soon as the circumstances permit.

19.3 Notification to Users

Communication: SecurrHold will notify users of any Force Majeure event affecting its services, either through email or an announcement on the platform, providing updates as necessary on the status of the situation and its impact on ongoing transactions.

19.4 Limitation of Liability

No Liability for Delays: During a Force Majeure event, SecurrHold is not liable for any delays, losses or damages incurred by users due to interruptions in the service. This includes delays in releasing funds, processing transactions or resolving disputes.

19.5 Termination for Extended Force Majeure

Extended Periods: If a Force Majeure event continues for an extended period (e.g. more than 30 days), either party (SecurrHold or the user) may terminate the agreement related to the affected transaction without further liability, subject to an equitable settlement for services already rendered.

20. Indemnification

This section outlines the users’ responsibility to indemnify SecurrHold Escrow Limited from certain claims, damages or liabilities that may arise due to their use of the platform.

20.1 User Agreement to Indemnify

Indemnification Obligation: By using SecurrHold’s services, users (both Party I and Party II) agree to indemnify, defend and hold harmless SecurrHold, its affiliates, officers, directors, employees and agents from any claims, damages, losses, liabilities, costs or expenses (including reasonable legal fees) that arise from:

- Any breach of these Terms& Conditions by the user

- Any violation of applicable laws or regulations

- Any misuse or unauthorized use of SecurrHold’s platform

- Any disputes between the parties involved in a transaction

- Any fraud, misrepresentation or misconduct by the user

20.2 Scope of Indemnification

Covered Claims: This indemnification includes, but is not limited to, claims arising from:

- Transactions conducted via the escrow service, including failure to fulfill agreed conditions or false representations made by either party

- User actions that infringe on third-party rights, including intellectual property, privacy or contractual rights

- Any legal or regulatory violations caused by the user’s activities, such as money laundering or fraud

20.3 SecurrHold’s Right to Defense

Control of Defense: SecurrHold reserves the right to assume the exclusive defense and control of any matter otherwise subject to indemnification by the user. In such cases, the user agrees to cooperate with SecurrHold in asserting any available defenses.

20.4 Notification of Claims

Timely Notice: Users must promptly notify SecurrHold of any claims, actions or proceedings brought against them that may require indemnification. Failure to provide timely notice may limit SecurrHold’s ability to defend itself and, as a result, the user's indemnification obligations remain in full effect.

20.5 No Limitation of Other Rights

Additional Remedies: The indemnification provided under this section does not limit any other legal rights or remedies SecurrHold may have under law or equity.

21. Miscellaneous

This section includes various legal clauses that cover additional aspects of the agreement between SecurrHold and its users, ensuring clarity and protecting both parties in specific situations.

21.1 Severability

If any provision of these Terms& Conditions is found to be invalid, illegal or unenforceable by a court of competent jurisdiction, the remaining provisions shall remain in full force and effect. The invalid provision shall be replaced by a valid one that closely approximates the intent and economic effect of the invalid provision.

21.2 Entire Agreement

These Terms& Conditions, along with any applicable Escrow Agreement, Privacy Policy and other policies referenced herein, constitute the entire agreement between SecurrHold and the user. They supersede all prior agreements, understandings and representations, whether written or oral, relating to the use of the services provided by SecurrHold.

21.3 Waiver

No failure or delay by SecurrHold in exercising any right, power or remedy under these Terms& Conditions shall operate as a waiver thereof. Any waiver must be in writing and signed by an authorized representative of SecurrHold to be effective.

21.4 Assignment

Users may not assign or transfer any rights or obligations under these Terms& Conditions without SecurrHold’s prior written consent. SecurrHold may assign or transfer its rights and obligations to a third party in the event of a merger, acquisition or sale of assets without prior notice to users.

21.5 Relationship of the Parties

These Terms& Conditions do not create any agency, partnership, joint venture or employment relationship between SecurrHold and users. Users agree that SecurrHold is solely a neutral third-party service provider facilitating the escrow process.

21.6 Notices

All legal notices or other communications required or permitted under these Terms& Conditions must be in writing and delivered to the other party by email or through the SecurrHold platform. Notices to users will be sent to the email address associated with their account and notices to SecurrHold must be sent to the designated company email or address provided on the platform.

21.7 Survival of Obligations

Any provisions of these Terms& Conditions that, by their nature, are intended to survive the termination or expiration of this agreement, shall remain in effect. This includes, but is not limited to, sections on liability, indemnification and intellectual property.

21.8 Headings

The section headings used in these Terms& Conditions are for convenience only and do not affect the interpretation of the provisions.

21.9 Governing Language

These Terms& Conditions may be provided in multiple languages for user convenience. However, the English version of these Terms& Conditions shall prevail in the event of any inconsistencies between versions.