Payment protection

Escrow

Escrow is a service that holds the buyer’s paid funds until the corresponding obligations under the contract have been fully performed.

Escrow is applied on the following legal grounds:

Law of the Republic of Uzbekistan “On Electronic Commerce” No. ZRU-792 of 29.09.2022.
Decree of the President of the Republic of Uzbekistan No. UP-6313 of 14.09.2021.

On the INBIZ platform the service is provided by JSB “Universalbank” (the “Bank”).

The technologist is the operator of the INBIZ platform — INBIZ SOLUTIONS LLC (the “Technologist”).

The buyer/customer transfers the contract funds to a dedicated account at the Bank.
The Technologist notifies the seller/contractor that the advance payment under the contract has been received, and the seller/contractor begins performing the contract.
Depending on the outcome of the contract:
completed successfully → the Bank transfers the funds to the seller/contractor;
not performed → the Bank returns the funds to the buyer/customer.

The escrow mechanism therefore fully protects both parties to the transaction against the risk of not receiving or not recovering their funds.