Refund & Dispute Policy

1. Introduction & Vera's Neutral Role

Flash Drive Limited (RC: 1979256) operating as Vera.ng ("Vera") operates exclusively as a neutral escrow facilitator. This Refund & Dispute Policy outlines the strict legal parameters governing when escrowed funds can be refunded and how transactional disputes are adjudicated. By funding an escrow transaction, you expressly agree to be bound by the terms, time limits, and arbitration rules set forth herein.

2. Absolute Finality of the Release Code

The Vera escrow system relies on a confidential "Release Code" provided exclusively to the Buyer.

• Waiver of Refund Rights: By verbally or digitally disclosing the Release Code to the Seller, the Buyer acknowledges that they have physically inspected the goods, are fully satisfied with their condition, and expressly waive all rights to request a refund.
• Irrevocable Disbursement: Once the Release Code is submitted by the Seller into the Vera platform, the escrowed funds are irrevocably disbursed. Under no circumstances will Vera reverse, refund, or recall funds once a valid Release Code has been entered.

3. Grounds for Buyer Refund Eligibility

A Buyer is entitled to request a refund of their principal escrow payment only prior to disclosing the Release Code, under the following strict conditions:

• Non-Delivery / Seller Non-Appearance: The Seller fails to deliver the goods or meet at the agreed inspection location within the agreed timeframe.
• Material Misrepresentation: The physical item presented significantly deviates from the listing description, photographs, or agreed specifications.
• Counterfeit or Defective Goods: The item is demonstrably fake, illegally procured, or possesses undisclosed functional defects.
• Mutual Cancellation: Both the Buyer and Seller mutually agree to cancel the transaction before physical handover.

4. Escrow Processing Fees Are Non-Refundable

Please note that the Escrow Service & Payment Processing Fee charged by Vera at the time of funding covers the immediate costs of securing funds, payment gateway (Paystack) processing, and infrastructure. Escrow fees are strictly non-refundable, even if the underlying principal transaction is canceled or refunded, unless the cancellation is caused by a technical failure directly attributable to Vera.

5. Dispute Adjudication & Binding Arbitration

If a transaction cannot be amicably resolved, either party may initiate a formal Dispute via the Vera dashboard.

1. Burden of Proof: The burden of proof rests entirely on the disputing parties. Users must provide compelling, timestamped evidence (e.g., clear video of the inspection, chat logs, courier tracking). Vera is not liable if a party fails to provide sufficient evidence.
2. Time Limits: A dispute must be raised before the transaction expires. Failure to respond to Vera Risk Management evidence requests within 48 hours will result in automatic forfeiture of the dispute.
3. Binding Decision: Vera Risk Management acts as the final adjudicator. You explicitly agree that Vera's decision regarding the allocation of escrowed funds—whether releasing to the Seller or refunding the Buyer—is absolute, final, and legally binding. Decisions are not subject to appeal, chargeback, or litigation.

6. Fraudulent & Malicious Disputes

Vera actively monitors for abuse of the refund policy. If Vera Risk Management determines, at its sole discretion, that a Buyer or Seller has filed a malicious, fabricated, or fraudulent dispute (e.g., attempting a "friendly fraud" scam), Vera reserves the right to:

• Immediately release the escrowed funds to the opposing party.
• Permanently ban the offending user's account and blacklist their National Identification Number (NIN).
• Deduct investigative penalty fees from any remaining balances in the user's Vera Wallet.
• Forward all evidentiary records to the Economic and Financial Crimes Commission (EFCC).

7. Refund Processing Timelines

When a refund is approved by Vera Risk Management, the principal funds will be credited directly back to the Buyer's internal Vera Wallet instantly. The Buyer may then initiate a withdrawal to their verified Nigerian bank account, subject to standard banking settlement times (typically 1-3 business days).