8. Escrow & Payment

8.1 Getting started

Escrow is a secure financial arrangement where a neutral third party holds funds during a transaction, ensuring that both parties fulfill their obligations before the money is released. Gamehaap partners with Escrow.com, a globally trusted escrow service, to facilitate secure and reliable transactions.

We partner with Escrow.com due to their extensive experience, global reach, and robust security measures.

Optionally, buyers and sellers can agree to use their own escrow services. Gamehaap will continue to assist in such cases, but if proceeding with Escrow.com, Gamehaap will create all necessary drafts and make the process easy for the buyer.

8.2 How does Escrow.com work?

Escrow.com provides a secure platform to manage payments and protect both buyers and sellers in a transaction. Here’s how it works for buyers:

1. Sign in or create your account on Escrow.com:
• Go to Escrow.com and sign in or create a new account if you don’t already have one.

     2. Agree to the final sales agreement:

• On your dashboard, review and agree to the final sales agreement shared with Escrow.com by Gamehaap.

     3. Enter payment information:

• Provide your bank account or payment details to deposit the funds required for the purchase.

     4. Verify your Escrow.com account:

• Verify your account by providing personal details that match the information on the Sales Agreement.

     5. Deposit funds:

• Deposit the agreed purchase amount into the escrow account. Escrow.com secures these funds until the transaction is completed.

     6. Verification of funds:

• Escrow.com verifies that the funds are received and secured.

     7. Seller transfers game assets:

• Once the funds are verified, the seller transfers the game assets to you as per the agreed terms in the Asset Purchase Agreement (APA).

     8. Inspect the assets:

• Inspect the game assets upon receipt to ensure they meet the conditions outlined in the APA.

     9. Confirm receipt and satisfaction:

• Confirm with Escrow.com that you have received the game assets and are satisfied with their condition.

     10. Release of funds:

• Upon your confirmation, Escrow.com releases the funds to the seller. This ensures that your funds are protected until you are completely satisfied with the transaction.

8.3 How does Gamehaap assist in this step?

Gamehaap provides comprehensive support to ensure a smooth and secure escrow process:

• Trusted Escrow partners:
• Gamehaap collaborates with reputable escrow service providers, primarily Escrow.com, to facilitate secure transactions.

• Setup and coordination:
• We assist in setting up the escrow account and coordinate with Escrow.com to ensure that all procedures are followed correctly.

• Guidance and instructions:
• Gamehaap provides clear instructions to both the seller and the buyer on how to deposit and release funds through the escrow service.

• Monitoring and communication:
• Throughout the transaction, Gamehaap monitors the escrow process and maintains communication with both parties to address any questions or concerns.

• Dispute mediation:
• In the event of a dispute, Gamehaap helps mediate between the buyer and seller, working with the escrow service to resolve the issue fairly.

• Final verification:
• We ensure that all conditions of the sale are met before advising the escrow service to release the funds to the seller.

By leveraging these services, Gamehaap ensures that the escrow and payment process is secure, efficient, and transparent, protecting the interests of both sellers and buyers.