Payments
EdekiHub Payments are flexible payments– direct payments, financial instruments or EdekiHub Escrow Payments for products and services for sellers, buyers, service providers and service seekers.
In handling transactions, EdekiHub offers flexible payments such as:
i. EdekiHub direct payment through EdekiHub payment processor(s), direct bank transfers or bank deposits.
ii. Financial instruments issued to the seller/service provider directly. Examples of financial instruments are LC(Letter of Credit), SBLC(Standby Letter of Credit), BG(Bank Guarantee), BEC(Bank Endorsed Cheque), BF(Block Fund), BD(Bank Draft), etc.
iii. EdekiHub Escrow Service which protects buyers and sellers against frauds and scams based on EdekiHub Direct Payment Escrow or EdekiHub Financial Instrument Escrow. EdekiHub Escrow implies that EdekiHub is the fiduciary for the transactions.
EdekiHub Escrow Service minimize risks for both sellers/service providers and buyers/service recipients. Buyers make payments to EdekiHub Escrow knowing fully well that they will receive the products/services they paid for. On the other hand, sellers/service providers will deliver products or provide services bearing in mind that the payment has already been made by the buyer/service recipient but held in Escrow by EdekiHub which they will get after delivering quality products and quality services.
It should be noted that EdekiHub Financial Instrument Escrow is aimed at preventing financial instrument scams and frauds by sellers/service providers who are only interested in monetizing financial instruments with no intention of actually delivering the product or providing the service for which the instruments are issued. As buyers/service seekers, it should be noted that issuing financial instruments come with some costs. These costs can be minimized or avoided by opting for EdekiHub Direct Payment Escrow based on mutual agreement by the transacting parties.
Except when and where EdekiHub is the direct seller or direct service provider, EdekiHub do not encourage any form of upfront or advance payment. Thus, when and where EdekiHub is not the direct seller or direct service provider, EdekiHub recommends that both parties should opt for EdekiHub Direct Payment Escrow or EdekiHub Bank Instrument Escrow. This is because EdekiHub prioritizes protecting all parties against scams and frauds.
Note: We are only interested in facilitating genuine and legitimate business transactions. Therefore, bear in mind that you and your business/company/organization will be reported to appropriate law enforcement agencies for investigation and prosecution where necessary if in your course of transacting on EdekiHub.com, you engage in any of the following.
- Any attempted or perpetuated fraud, scam, money laundering or terrorism financing.
- As a buyer/service recipient, if you issue fake financial instrument to us(EdekiHub Financial Instrument Escrow) on behalf of the seller/service provider for transactions that are based on financial instruments.
How EdekiHub Escrow Works for Transactions
1. After both parties agree to transact via escrow payments, the buyer/service recipient makes direct payment to us(EdekiHub Direct Payment Escrow) or issue financial instrument to us(EdekiHub Financial Instrument Escrow) on behalf of the seller/service provider.
2. After we confirm receipt of direct payment or financial instrument, we inform the seller/service provider to deliver product/provide service. Evidence of delivery is sent to us by the seller/service provider.
3. After buyer/service recipient confirms the receipt of product or service in good condition and satisfaction without any dispute whatsoever, we release payment to seller or service provider less all charges.
EdekiHub Dispute Resolution for Transactions
We engage in dispute resolution between seller/service provider and buyer/service recipient in case there is dispute about the transaction with utmost fairness that is completely void of any bias i.e without fear or favour.
All charges incurred from bank(s) and payment processor(s) will be deducted in case refunds are made to buyer/service recipient.
It is our earnest desire to resolve any dispute amicably in a timely manner should any dispute arise. However, where and when we are unable to resolve such dispute, either party is at liberty to take legal action.
Note: We EdekiHub, EdekiHub’s parent company and management dissociate ourselves and we will not be part or be involved in any form of legal action hence our resolve to provide unbiased dispute resolution. Therefore, both parties hereby agree to absolve EdekiHub, EdekiHub’s parent company and management from all legal actions should any arise.
EdekiHub Seamless Transactions
We are more interested in facilitating seamless transactions void of any form of dispute for both parties. Therefore, in order to prevent disputes, we urge sellers/service providers to offer quality products and services as well as buyers/service recipients to stick to agreed terms of the transaction. Above all, we urge all parties to deal with responsibility, accountability and transparency.
Proof of Payment:
You will have to send us proof of payment if you are making payment to us via bank deposits and online bank transfers. You can send us your proof of payment by contacting us using our contact form after you have made payment for products or services. Please, ensure you state the full details of what you paid for, the amount paid, your paying bank details and attach/upload evidence of payment. This will help us in confirming your payment and effect processing your order in a timely manner.
Note: You do not need to send us proof of payment if you made payment through our online payment processor(s) via debit cards, credit cards, etc.