Refund Policy

1. Overview

TrustAm uses an escrow-based payment system to protect both buyers and service providers on our marketplace. This Refund Policy explains how funds are held, when refunds are issued, and how dispute outcomes affect payment releases.

This policy applies to all marketplace transactions processed through TrustAm. For peer-to-peer (P2P) transfers, see Section 7 below.

2. How Escrow Works

When a buyer pays for a service on TrustAm, the funds are not sent directly to the provider. Instead, they are held in escrow until the service is completed and confirmed:

1. Payment: The buyer pays via Paystack. Funds are held in escrow by TrustAm. The maximum escrow hold period is 7 days.
2. Service Delivery: The provider performs the service and marks the booking as complete in their dashboard.
3. Buyer Confirmation Window: The buyer has 72 hours to confirm that the service was delivered satisfactorily, or to open a dispute.
4. Fund Release: Funds are released to the provider when:
   • The buyer explicitly confirms receipt, OR
   • The 72-hour confirmation window expires with no action from the buyer

TrustAm deducts a 5% platform commission on release. The provider receives 95% of the transaction amount.

3. When Refunds Are Issued

Refunds may be issued in the following circumstances:

3.1 Dispute Resolution Outcomes

If a buyer opens a dispute during the 72-hour confirmation window, escrow is frozen and the dispute is resolved through our 4-stage dispute resolution process. The possible outcomes are:

• Full Refund: 100% of the escrowed amount is returned to the buyer's TrustAm wallet. This applies when the service was not delivered, the provider failed to show up, or the service was fundamentally different from what was agreed.
• Partial Refund: A prorated amount is refunded based on the percentage of work completed. The formula is: refund = disputed amount x (100 - completion%) / 100. For example, if a provider completed 60% of a ₦10,000 job, the buyer receives ₦4,000 and the provider keeps ₦6,000.
• No Refund: The provider receives the full escrowed amount. This applies when the service was delivered as agreed and the buyer's dispute is found to be without merit.

3.2 Cancelled Bookings

• Before provider accepts: If a booking is cancelled before the provider accepts it, a full refund is issued automatically.
• After provider accepts, before service begins: A full refund is issued if the provider agrees to the cancellation or fails to respond within a reasonable time.
• After service has begun: Refund eligibility is determined through the dispute resolution process based on work completed.

3.3 Provider No-Show

If a provider fails to deliver the service and does not respond to booking communications, the buyer may open a dispute. No-show cases are eligible for a full refund.

4. Dispute Resolution Process

TrustAm provides a structured 4-stage dispute resolution process:

5. How Refunds Are Credited

• Refunds are credited to the buyer's TrustAm wallet balance
• A transaction record is created with full details of the refund and associated booking
• The buyer receives a push notification confirming the refund amount
• Refunds are processed immediately upon dispute resolution — there is no additional processing delay
• Wallet balances can be used for future transactions or withdrawn to a bank account

6. Milestone-Based Escrow

For larger projects, TrustAm supports milestone-based escrow where the total payment is split into stages:

• Each milestone has its own amount, description, and optional due date
• Funds for each milestone are released independently upon completion and confirmation
• Milestones can be configured to auto-release on the due date if no dispute is raised
• Disputes can be raised on individual milestones without affecting already-released milestones
• If a project is abandoned mid-way, only the funds for uncompleted milestones are eligible for refund

7. Peer-to-Peer Transfers

P2P transfers between TrustAm users are generally non-refundable once completed, as they are processed instantly. However:

• P2P Escrow: Users can optionally send transfers via P2P escrow, which holds funds until the recipient confirms or a deadline passes
• Unauthorized transactions: If you believe a P2P transfer was made without your authorization, contact support immediately. We will investigate and may reverse the transaction pending fraud investigation
• Failed transfers: If a bank transfer fails to process, the funds are automatically returned to your TrustAm wallet

8. Chargeback Policy

We strongly encourage users to resolve payment issues through our dispute resolution system rather than initiating chargebacks through their bank or payment provider. TrustAm tracks chargeback rates for all users:

• Filing a chargeback does not guarantee a refund — it initiates a separate investigation
• Users who file frivolous or fraudulent chargebacks may have their accounts suspended
• Providers with elevated chargeback rates may face visibility reduction or account review

9. Exclusions

Refunds are not available in the following circumstances:

• The buyer confirmed receipt of the service (escrow already released)
• The 72-hour confirmation window expired without a dispute being filed
• The dispute was resolved in favour of the provider (no refund outcome)
• The transaction was a completed P2P transfer (not via escrow)
• The buyer's account was suspended for violations of our Acceptable Use Policy

10. Contact Us

For questions about refunds or to request assistance with a transaction:

See also: Terms of Service • Privacy Policy • Acceptable Use Policy