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TRADE ME LIMITED (trading as SAFETRADER)

ESCROW SERVICE

General Terms and Conditions


These General Terms and Conditions are incorporated into and form part of each and every escrow agreement between the Buyer, the Seller and SafeTrader.

1. USE OF SERVICE

1.1 The Buyer and the Seller expressly acknowledge that their use of the SafeTrader Escrow Service is carried out at their risk.

1.2 The Buyer and the Seller are solely responsible for maintaining the security of their account with SafeTrader and ensuring the confidentiality of their password. SafeTrader is not liable for any unlawful or unauthorised use of the account of either the Buyer or the Seller.

1.3 The Buyer and the Seller agree that they will at all times provide truthful and accurate information to SafeTrader and not act in a dishonest or misleading manner.


2. USER INFORMATION

2.1 SafeTrader agrees not to disclose any information relating to the Buyer and the Seller, or the transaction entered into by them, other than as required by law (read the privacy statement).


3. LIMITATION OF LIABILITY

3.1 SafeTrader will not be liable for anything which it may do or refrain from doing in connection with this Escrow Service, except for a failure by SafeTrader to act in accordance with its obligations pursuant to these General Terms and Conditions, and the Escrow Service Agreement any negligence or wilful misconduct.

3.2 SafeTrader makes no warranty that the Escrow Service will meet the requirements of all prospective users, or that the service will be uninterrupted, timely, secure or error free.

3.3 SafeTrader shall not be liable for any incidental or consequential damages resulting from the use of the Escrow Service, or the inability of any prospective user to use the Escrow Service.

3.4 SafeTrader is not liable for any damage to goods in transit, or during the agreed inspection period of either the Buyer or the Seller.

3.5 SafeTrader is not liable for any breach of contract by either the Buyer or the Seller.

3.6 SafeTrader is not liable for any consequential damages that may be suffered by either the Buyer or the Seller as a result of using the SafeTrader Escrow Service.

3.7 SafeTrader is not liable for any direct credit payments made to the incorrect bank account, where the payee has requested payment be made by direct credit and SafeTrader has deposited payment as per the bank account details provided by the payee.


4. INDEMNITY

4.1 The Buyer and the Seller agree to indemnify SafeTrader, its officers and employees against any claim or demand made by any third party due to or arising out of any use by the Buyer and/or the Seller of the SafeTrader Escrow Service.


5. APPLICABLE LAW

5.1 The SafeTrader Escrow Service Agreement and these General Terms and Conditions are to be construed in accordance with the laws of New Zealand. The Buyer and the Seller acknowledge and consent to the exclusive jurisdiction of the Courts of New Zealand in relation to any claim or cause of action in relation to the Escrow Service.


6. AMENDMENTS TO TERMS AND CONDITIONS

6.1 SafeTrader reserves the right to amend the General Terms and Conditions of the Escrow Service and the Escrow Service Agreement from time to time. Any amendments will be published on the SafeTrader website and will take effect immediately and apply to all transactions which are entered into after the amendments have been published.


7. ESCROW FEE NON-REFUNDABLE

7.1 The Buyer and the Seller acknowledge that the escrow fee payable to SafeTrader for the escrow service is non-refundable in the event that the transaction is not completed.The Buyer acknowledges that, in the event of a refund to the Buyer, they will be charged the full SafeTrader escrow fee, regardless of how the Buyer and Seller have agreed to split the fee.