Escrow Services Disclosure

1. Escrow Services Overview

All financial transactions on the OLLEVA Moto Auctions platform are processed through licensed, third-party escrow agents. OLLEVA Moto Auctions does not hold, custody, or control buyer funds or seller proceeds.

We are a technology platform, not an escrow agent. Escrow services are provided by independent, licensed financial institutions that specialize in secure transaction facilitation.

2. How Escrow Works

Step 1: Auction Ends

When an auction ends with a winning bid, an escrow account is automatically created through our escrow partner.

Step 2: Buyer Payment

The winning bidder must transfer the full purchase price plus applicable fees to the escrow account within 48 hours. Accepted payment methods: wire transfer, ACH, or blockchain transaction (USDC, USDT).

Step 3: Funds Held Securely

The escrow agent holds funds in a segregated, FDIC-insured account. Funds remain in escrow until the transaction is complete or a dispute is resolved.

Step 4: Delivery and Inspection

The seller arranges delivery or pickup. The buyer has a specified inspection period (typically 3-7 days) to inspect the motorcycle and confirm it matches the listing description.

Step 5: Release of Funds

After the buyer confirms acceptance, or after the inspection period expires without objection, funds are released to the seller minus platform fees. Releases typically occur within 1-2 business days.

3. Escrow Provider Information

Primary Escrow Partner: [Licensed Escrow Company Name]
License Number: [State License Number]
Regulator: [State Financial Services Department]
Insurance: FDIC-insured up to $250,000 per account

Alternate Escrow Partners may be used based on transaction size, location, or buyer/seller preference. All escrow providers are licensed and regulated financial institutions.

4. Fees and Charges

4.1 Platform Fees

• Buyer's Premium: 5% of purchase price (minimum $250)
• Seller's Commission: 5% of sale price
• Platform Fee: 2.5% (included in above percentages)

4.2 Escrow Fees

Escrow agent fees (typically 1-2% of transaction value, split between parties) are disclosed before payment. Wire transfer fees and blockchain gas fees are additional.

4.3 Fee Collection

Fees are automatically deducted from escrow before fund release. The seller receives net proceeds after all fees. Fees are non-refundable once a transaction is initiated.

5. Fund Release Conditions

Funds are released from escrow under the following conditions:

• Buyer Acceptance: Buyer explicitly confirms acceptance
• Automatic Release: Inspection period expires without dispute
• Mutual Agreement: Both parties agree to early release
• Dispute Resolution: Arbitrator or court orders release

Hold Periods

Standard hold period: 7 days after delivery
Extended hold (high-value): 14 days after delivery
Dispute hold: Until resolution (no automatic release)

6. Refunds and Cancellations

6.1 Pre-Delivery Cancellation

If a transaction is cancelled before delivery, the buyer receives a full refund minus any non-refundable platform fees. Refunds process within 5-7 business days.

6.2 Post-Delivery Disputes

If the buyer rejects the motorcycle during the inspection period for legitimate reasons (material misrepresentation, undisclosed damage), the escrow agent holds funds pending dispute resolution. See Dispute Resolution section.

6.3 No Automatic Chargebacks

Escrow payments cannot be reversed through credit card chargebacks or bank recalls. All disputes must follow the established dispute resolution process.

7. Dispute Resolution

If a dispute arises:

1. Notify Escrow Agent: Either party submits a dispute claim with evidence (photos, inspection reports, correspondence)
2. Negotiation Period: Parties have 7 days to resolve directly
3. Platform Mediation: Our admin team reviews evidence and recommends resolution
4. Arbitration: If unresolved, dispute proceeds to binding arbitration per our Arbitration Agreement

During disputes, funds remain in escrow. The escrow agent releases funds only upon written agreement or arbitration award.

8. Buyer Protections

• Funds held securely until you confirm receipt and acceptance
• Inspection period to verify motorcycle condition
• Right to dispute if motorcycle doesn't match description
• FDIC insurance on escrowed funds
• No release without your approval or dispute resolution

9. Seller Protections

• Guaranteed payment once buyer accepts
• Protection from buyer non-payment
• Automatic release if buyer doesn't dispute within inspection period
• Protection from fraudulent chargebacks
• Clear dispute resolution process

10. Risks and Limitations

Important Limitations:

• Escrow protects funds, not the motorcycle itself
• No insurance against theft, damage, or title issues
• Disputes can delay fund release significantly
• Wire transfer and blockchain transactions may have delays
• International transactions may have additional restrictions
• Escrow does not verify title, condition, or legal status

11. Compliance and Regulation

All escrow providers comply with:

• State money transmission licensing requirements
• Federal Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations
• Office of Foreign Assets Control (OFAC) sanctions screening
• State Uniform Commercial Code provisions
• FDIC insurance requirements

12. Contact Information

For escrow questions or issues:
Email: escrow-support@ollevamotoauctions.com
Phone: [Escrow Support Number]
Hours: Monday-Friday, 9 AM - 6 PM EST

Escrow Provider Direct Contact:
[Provider Phone]
[Provider Email]