Version 1.0 — last updated August 1, 2026
VASECRIB ESCROW AND REFUND POLICY
1. PURPOSE AND RELATIONSHIP TO OTHER DOCUMENTS
This Escrow and Refund Policy ("Policy") explains how Rent Payments are held and released on the VaseCrib platform. This Policy forms part of, and should be read together with, the VaseCrib Terms of Service and the Review Moderation and Dispute Framework. Where a Dispute arises, the grounds, evidence requirements, and review timeline are governed by the Review Moderation and Dispute Framework; this Policy governs the financial mechanics of holding and releasing the funds themselves. Capitalised terms not otherwise defined in this Policy have the meaning given to them in those documents.
2. LEGAL CHARACTERISATION OF ESCROW FUNDS
2.1 When a Seeker makes a Rent Payment, those funds are held by our designated payment partner, a licensed financial service provider, and not by VaseCrib directly. VaseCrib does not itself
take custody of Seeker funds.
2.2 VaseCrib acts strictly as a neutral party in directing when held funds should be released or refunded, in accordance with this Policy and the Review Moderation and Dispute Framework. VaseCrib is not a deposit-taking institution, and funds held in Escrow do not accrue interest for either the Seeker or the Lister.
3. THE VERIFICATION WINDOW
3.1 Upon a Rent Payment being successfully made, a Verification Window of forty-eight hours begins. During this period, the funds are held in Escrow and are not released to the Lister.
3.2 The Verification Window gives the Seeker a reasonable opportunity to confirm that the property matches what was represented in the Listing before funds are released.
4. RELEASE OF FUNDS
4.1 Funds held in Escrow are released to the Lister when any one of the following occurs:
(a) The Seeker actively confirms, through the Platform, that they are satisfied with the property, in which case funds are released promptly following that confirmation;
(b) The Verification Window expires without the Seeker having raised a Dispute, in which case funds are automatically released to the Lister; or
(c) A Dispute raised by the Seeker within the Verification Window is resolved in the Lister's favour, in accordance with the Review Moderation and Dispute Framework.
4.2 Where a Seeker raises a Dispute within the Verification Window, funds remain locked in Escrow, and are not released to the Lister, until that Dispute is resolved.
5. REFUNDS
5.1 A refund to the Seeker will only be issued where a Dispute has been raised within the Verification Window and resolved in the Seeker's favour, on one of the grounds set out in the Review
Moderation and Dispute Framework.
5.2 Where a refund is approved, it will be returned to the Seeker through the same payment method and channel used to make the original Rent Payment, within a reasonable period following the decision.
5.3 A Seeker who does not raise a Dispute within the Verification Window, or whose confirmation under Clause 4.1(a) has already been given, is not entitled to a refund in respect of that transaction.
6. FEES
Any facilitation or service fee charged by VaseCrib in connection with a Rent Payment will be clearly disclosed to both the Seeker and the Lister before the transaction is completed, and is separate from the Rent Payment amount held in Escrow.
7. SCOPE OF THIS POLICY
This Policy governs only the release or refund of funds held in Escrow for a specific transaction. It does not constitute a warranty regarding the physical condition of any property beyond what is assessed as part of a Dispute under the Review Moderation and Dispute Framework, and does not limit either
party's right to pursue further remedies outside the Platform, as set out in that Framework.
8. GOVERNING LAW
This Policy is governed by the laws of the Federal Republic of Nigeria, and any dispute arising from it is subject to the exclusive jurisdiction of the courts of Ogun State.