Terms & Conditions

1. Acceptance of Terms

By registering for, accessing, or using OloBuy ("Platform", "we", "us", "our"), you agree to be legally bound by these Terms and Conditions. Electronic acceptance constitutes a legally binding agreement under applicable laws of Pakistan.

If you do not agree with any part of these terms, you must immediately discontinue the use of the Platform.

2. Nature of the Service & Escrow Model

• Manual Escrow Facilitation: OloBuy operates as a neutral third-party manual escrow and multi-vendor facilitation platform between Buyers and Sellers.
• Segregated Funds: All deal-related funds are held in designated custodial escrow accounts separate from operational funds, and are never lent, invested, or used for company expenses. OloBuy is not a bank.
• Beneficial Ownership: Funds remain the beneficial property of the depositing Buyer until shipment and acceptance conditions are successfully met.

3. Deal Creation & Deal Code System

Every transaction on OloBuy is secured through a unique Deal Code system. Each deal must clearly specify item descriptions, agreed amounts, delivery timeframes, and terms.

• Change Requests: Either party may request changes to active deal terms, subject to mutual approval within a strict 12-hour response window.
• Fee Adjustments: Deal amount modifications post-deposit are governed by strict platform rules regarding refund pools and service fee recalibrations.

4. Fulfillment, Delay Penalties & Grace Period

Time is of the essence in all OloBuy transactions. If a Seller or Freelancer fails to meet the agreed-upon delivery deadline:

• A penalty of 2% of the total transaction value shall be deducted from the held funds for each day of delay.
• Grace Period: For instance, if delivery is expected by the 12th, the 2% daily penalty shall commence on the 15th, providing a built-in 72-hour buffer.

5. Delivery Confirmation, Acceptance Window & Funds Release

• Acceptance Window: Upon delivery confirmation, a 12-hour inspection window begins where the Buyer can either release funds or raise a dispute.
• Auto-Release: If no action is taken by the Buyer within 12 hours, the transaction is automatically deemed accepted and funds are released to the Seller.
• Refund Pool: The net escrow principal (total paid minus the non-refundable escrow service fee) forms the Refund Pool available for allocation during successful completions or disputes.

6. Dispute Resolution Framework

If a dispute arises, OloBuy enforces a structured timeline:

• Response Stage (48 Hours): Responding party must submit evidence within 48 hours, failing which the case resolves automatically in favor of the initiator.
• Negotiation & Arbitration: Parties undergo a negotiation phase, followed by internal platform arbitration if escalated with applicable dispute fees.
• Return Shipping: In quality disputes requiring item returns, the Seller is contractually obligated to bear return shipping costs where misrepresentation is proven.

7. Community Safety, Fraud Checker & Legal Disclaimers

8. Limitation of Liability & Governing Law

OloBuy acts solely as an escrow intermediary and is not liable for third-party courier failures, product quality disputes, or user misrepresentation beyond our manual verification scope.

These terms are governed exclusively by the laws of the Islamic Republic of Pakistan.