Refund and Cancellation Policy

1. Introduction

This Refund and Cancellation Policy ("Policy") explains when and how an escrow transaction, payment, or purchase made through Pandascrow can be cancelled, and when money is returned.

It applies to escrow transactions (one-time, milestone, multi-party and recurring), PayMe payment links, and invoices orders, payments made through merchants and platforms that use the Pandascrow API, wallet withdrawals, and Panda Credit purchases.

This Policy forms part of our Terms of Service. Words that are defined in the Terms of Service have the same meaning here. If this Policy and the Terms of Service conflict on a refund or cancellation matter, this Policy applies.

2. How escrow protects your money

When a buyer funds an escrow, the money is held with Pandascrow's licensed financial institution partners. It is not paid to the seller until the agreed conditions are met.

Because the money is held and not yet paid out, an escrow can be cancelled and refunded at any point before release, subject to the rules below. Once funds are released to the seller, the transaction is complete and Pandascrow can no longer return the money (see Section 7).

Pandascrow is a neutral facilitator. We do not sell the goods or services traded between users, and we do not decide whether a seller's own return policy is fair. We hold the money, follow the agreed terms, and run the dispute process.

3. Cancelling an escrow before it is funded

You can cancel an escrow transaction at any time before it is funded.

• No money has moved, so there is nothing to refund and no fee is charged.
• Either party, or the merchant or platform that created the escrow, can ask to cancel it.
• An unpaid escrow or payment link that is no longer needed can be left to expire or cancelled from your dashboard or through support.

4. Cancelling an escrow after it is funded

Once an escrow is funded, it can be cancelled and refunded in the following cases.

4.1 Both parties agree

If the buyer and the seller both agree to cancel, the buyer receives a full refund. Either party can contact support with the escrow reference, and we will confirm the cancellation with the other party before refunding.

4.2 The seller cancels

If the seller cannot or will not deliver, the seller can cancel at any time before release, and the buyer receives a full refund.

4.3 The buyer wants to cancel

A buyer cannot cancel a funded escrow on their own once the seller has accepted it, because the seller may already have started work, bought materials, or shipped goods. The buyer can:

• ask the seller to agree to cancel (Section 4.1); or
• open a dispute if the seller has not delivered, has delivered late, or has delivered something different from what was agreed (Section 6).

4.4 The seller does not respond or deliver

If the seller does not accept, respond to, or deliver on a funded escrow within the agreed time, the buyer can open a dispute and request a refund. If the seller does not respond to the dispute within the time we set, we may cancel the escrow and refund the buyer.

4.5 Errors and duplicate payments

If you pay the same escrow twice, pay more than the amount due, or pay into a transaction that was created in error, the extra or mistaken amount is refunded in full once we have confirmed it.

4.6 Fraud, compliance and legal reasons

Pandascrow may cancel an escrow and return the funds to the buyer if we reasonably believe the transaction involves fraud, prohibited goods or services, sanctions, or a breach of our Terms of Service, or if we are required to do so by law, a court order, or a regulator. In some of these cases, funds may instead be frozen or reported as required by law (see our Anti-Money Laundering Policy).

5. Inspection period and automatic release

Most escrows include an inspection period. This is the time the buyer has, after delivery, to check the goods or services.

• If the buyer is satisfied, they confirm delivery and the funds are released to the seller.
• If the buyer is not satisfied, they must open a dispute before the inspection period ends.
• If the inspection period ends with no dispute, the escrow may be released to the seller automatically, and it can no longer be refunded through Pandascrow.

Buyers should check deliveries promptly and raise any problem within the inspection period.

6. Disputes, full refunds and partial refunds

Either party can open a dispute on a funded escrow before it is released.

• Disputes are free for verified users.
• We may ask both parties for evidence, such as the agreement, chat history, invoices, delivery confirmation, photos, or milestone submissions.
• Most disputes are resolved within 2 to 5 Business Days, depending on complexity and how quickly both parties respond.
• Funds stay in escrow while the dispute is open.

Depending on the evidence, the outcome may be:

• a full refund to the buyer;
• a full release to the seller; or
• a partial refund, where part of the funds goes to the buyer and the rest to the seller.

Either party may appeal an outcome with new evidence within 48 hours after the dispute is closed. A decision is final after the appeal window passes or the appeal is decided.

Where a merchant or platform has set up its own dispute process for escrows created through the Pandascrow API, that platform's process decides the outcome, and Pandascrow settles the funds according to its decision.

Pandascrow's dispute process does not replace your legal rights. Nothing in this Policy stops you from pursuing a claim against the other party under applicable law.

7. When a refund is not possible through Pandascrow

Pandascrow cannot refund money that has already left escrow. A refund is not available through Pandascrow when:

• the buyer confirmed delivery and the funds were released;
• the inspection period ended without a dispute and the funds were released automatically;
• a milestone has already been released (only unreleased milestones can be refunded);
• a dispute was decided and the appeal window has passed; or
• the payment was made outside Pandascrow, for example by direct bank transfer to the seller.

In these cases, any claim for a return or refund must be made directly to the seller, under the seller's own policy and the law. Where fraud is involved, we will cooperate with banks, payment providers and law enforcement as described in our Terms of Service.

8. How refunds are paid

8.1 What you get back

For a full refund of a funded escrow, we return the full amount the buyer paid into the escrow, including the escrow fee where the buyer paid it. The escrow fee covers funding and refund processing, so no separate refund fee is charged.

For a partial refund, the buyer receives the portion decided under Section 6.

8.2 Where the refund goes

Refunds are credited to the buyer's Pandascrow wallet, in the currency the escrow was funded in. From there, the buyer can use the balance or withdraw it to a bank account in their own name.

If the buyer does not have a Pandascrow account, we will ask them to create and verify one to receive the refund. Where the law or a payment provider requires it, we may instead return the money to the original payment method.

8.3 How long it takes

• Approved refunds are normally credited to the wallet within 1 Business Day.
• Naira withdrawals to Nigerian bank accounts are usually completed within minutes.
• International withdrawals may take 1 to 3 Business Days.
• Refunds returned to a card or the original payment method depend on the bank or card issuer and can take longer.

Refunds may be delayed while we complete identity checks, anti-fraud reviews, or compliance reviews.

8.4 Withdrawal fees

Standard withdrawal fees apply when you move a refunded balance from your wallet to a bank account (currently ₦100 for Naira withdrawals to Nigerian banks; international payouts vary by country and currency). See our Pricing page.

9. Fees

• No fee is charged on escrows that are cancelled before funding.
• On a full refund, the escrow fee paid by the buyer is returned as part of the refund (Section 8.1).
• Escrow fees on completed (released) transactions are not refundable.
• Withdrawal fees and currency conversion charges are not refundable once the withdrawal or conversion has been completed.
• Where the seller or a platform paid the escrow fee, that fee is handled under the agreement between them and Pandascrow.

Current fees are shown on our Pricing page and before you complete each transaction.

10. Payments to merchants, stores and platforms

When you pay a merchant on PandaStore, through a PayMe link, through an invoice, or on a website or app that uses Pandascrow:

• The merchant's own return, exchange and refund policy decides whether you are entitled to a refund for the goods or services. Merchants must make that policy clear to buyers.
• Pandascrow decides how the escrowed money is returned or released, following this Policy and the dispute outcome.
• Once the merchant has been paid, any further refund must come from the merchant.

10.1 Invoices

An unpaid invoice can be cancelled by the merchant at any time. Once an invoice has been paid into escrow, it follows the rules in Sections 4 to 8. Invoice fees are not refundable once the invoice has been paid and released.

10.2 PayMe payment links

Payments made through a PayMe link are held in escrow and follow the same rules as other escrows.

11. Panda Credit

Panda Credit is a prepaid balance used for premium features such as AI tools, dispute priority and invoices.

• All Panda Credit purchases are final. Purchased and bonus credit cannot be refunded, cancelled, or exchanged for cash, whether used or unused.
• Credit has no cash value and cannot be transferred to another account or withdrawn to your wallet.
• If you were charged more than once for the same purchase, or you were charged but the credit was not added to your account, contact support and we will add the missing credit or reverse the extra charge.

12. Chargebacks and payment reversals

If you have a problem with a transaction, please use the Pandascrow dispute process first. It is usually faster than a chargeback and keeps the funds protected while it is reviewed.

If a buyer asks their bank or card issuer to reverse a payment (a chargeback):

• the funds may stay held in escrow until the chargeback is decided;
• we may share transaction records and evidence with the payment provider;
• a chargeback does not by itself decide the outcome of the escrow; and
• if a chargeback succeeds after funds were released, Pandascrow may recover the amount from the party that received the funds, as described in our Terms of Service.

Filing a false chargeback, or receiving a refund through both a dispute and a chargeback for the same transaction, may lead to account suspension and recovery of the funds.

13. Failed or reversed payouts

If a withdrawal or payout fails or is rejected by the receiving bank, the amount is returned to your Pandascrow wallet. You can then correct your bank details and try again.

14. How to request a cancellation or refund

1. Log in to your Pandascrow dashboard and open the transaction.
2. Raise a dispute, or contact support if both parties agree to cancel.
3. Include the escrow reference, the reason, and any supporting evidence.

You can also email support@pandascrow.io with your escrow reference. We aim to acknowledge refund and cancellation requests within 1 Business Day.

15. Your rights under the law

This Policy does not limit any rights you have under the Federal Competition and Consumer Protection Act 2018 or any other applicable consumer protection law. Where the law gives you a right to a refund, repair or replacement, that right applies in addition to this Policy.

16. Changes to this Policy

We may update this Policy from time to time. The updated version takes effect when it is published on this page, and the date at the top will change. Changes do not affect refunds or cancellations already requested before the change.

17. Contact Us

For questions about this Policy, contact: Pandascrow Support Team

Email: support@pandascrow.io

Website: https://pandascrow.io

Pandascrow is a product of Pandascrow Technologies. All rights reserved.