Terms and Conditions

Effective Date still date

Welcome to Korance.com. These Terms and Conditions (“Terms”) govern your access to and use of the services provided by Korance, a trusted escrow platform designed to facilitate secure online transactions between buyers and sellers in Nigeria and beyond.

By using our platform, you agree to comply with and be legally bound by these Terms

1. Definitions

"Korance", "we", "our", or "us" refers to the operator of Korance.com.

"User", "you", or "your" refers to any person or entity using our services.

"Escrow" refers to the holding of funds by Korance until certain conditions of a transaction are fulfilled.

"Buyer" refers to a user who initiates a payment for goods/services.

"Seller" refers to a user providing goods/services in exchange for payment.

2. Eligibility

To use our services, you must:

Be at least 18 years old.

Have the legal capacity to enter into a binding agreement.

Provide accurate and up-to-date information during registration.

3. Our Services

Korance acts as a neutral third party that:

Holds the buyer’s payment in escrow.

Releases funds to the seller only after the buyer confirms that the goods or services have been received as agreed.

Provides dispute resolution if disagreements arise between the parties.

4. How It Works

1. Buyer and Seller agree on the transaction details.
2. Buyer deposits funds into Korance escrow.
3. Seller delivers the goods or performs the service.
4. Buyer confirms satisfactory delivery.
5. Korance releases payment to the seller.

If a dispute occurs, Korance will mediate and may require evidence from both parties before making a decision.
 

5. Fees

Korance charges a service fee for each transaction. The applicable fee will be clearly displayed before transaction confirmation. By proceeding, you agree to the fees charged.

6. Prohibited Activities

Users may not:

Use the platform for illegal, fraudulent, or deceptive activities.

Use false identities or impersonate others.

Attempt to interfere with the platform’s operations.

Circumvent the escrow process.
Violation of these rules may result in suspension or permanent banning of your account.

7. User Responsibilities

You agree to:

Provide accurate information.

Deliver goods/services honestly and promptly (if you are the seller).

Confirm delivery promptly (if you are the buyer).

Cooperate with Korance during dispute resolution.

Keep your login credentials secure.

8. Dispute Resolution

If there is a disagreement:

Both parties must submit evidence within 3 business days.

Korance will evaluate the evidence and make a final decision.

All decisions made by Korance in dispute resolution are binding.

9. Limitation of Liability

Korance is not responsible for:

Losses resulting from user error or negligence.

The quality, legality, or delivery of goods/services.

Indirect, incidental, or consequential damages.

We act solely as an escrow agent and do not guarantee or endorse the services/goods exchanged.

10. Termination

We reserve the right to:

Suspend or terminate any account for violations of our Terms.

Refuse service at our discretion.
You may also close your account at any time.

11. Privacy

Your use of Korance is also governed by our Privacy Policy, which explains how we collect, store, and use your data.

12. Changes to Terms

We may modify these Terms at any time. Continued use of the platform after changes means you accept the updated Terms. You are advised to review this page regularly.

13. Governing Law

These Terms shall be governed and construed in accordance with the laws of the Federal Republic of Nigeria. All legal matters will be handled under Nigerian jurisdiction.

14. Contact Us

If you have questions or concerns about these Terms, please contact