Terms of Service

1. Introduction & Acceptance

Welcome to Panmile. These Terms of Service ("Terms") govern your access to and use of the Panmile mobile application, website (panmile.com.ng), and all associated services operated by Geekvators Technologies Ltd.

Panmile operates as a high-ticket e-commerce escrow and logistics facilitator. By creating an account, drafting a contract, or funding an escrow vault on Panmile, you agree to be bound by these Terms. If you do not agree to these Terms, you must not use our services.

2. The "Not a Bank" Declaration

3. User Verification (KYC)

To maintain a secure, fraud-free marketplace, Panmile enforces strict Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols.

• All users must undergo identity verification before creating or joining a secure escrow contract.
• You agree to provide accurate information, including your Bank Verification Number (BVN) and a facial liveness scan. This process is facilitated by our licensed compliance partner, Dojah.
• Failure to pass identity verification or providing false information will result in the immediate restriction or termination of your account.

4. The Escrow Process & Logistics

When you participate in a transaction on Panmile, you agree to the following milestone-based procedures:

• Funding the Vault: When a buyer funds a contract, the exact agreed-upon amount is deducted from their virtual wallet and securely locked in the Panmile Escrow Vault.
• Dispatch & Logistics: Sellers must dispatch items using Panmile's integrated logistics network (powered by Terminal Africa or iDeliver). The platform automatically generates the tracking number and waybill.
• Release of Funds: Escrowed funds are released to the seller's wallet only when the buyer confirms receipt of the item within the app, OR automatically upon the expiration of the inspection period (1 hour post-delivery confirmation by the courier).

5. Dispute Resolution Protocol

We provide a formal dispute resolution process to protect both buyers and sellers:

• The 1-Hour Window: Buyers have exactly one (1) hour from the moment the logistics provider marks the item as "Delivered" to inspect the asset.
• Filing a Dispute: If the delivered item is damaged or does not match the agreed-upon digital contract description, the buyer must press the "Dispute" button within the 1-hour window.
• Frozen Funds: Once a dispute is initiated, funds remain frozen in the escrow vault. Both parties must submit photographic evidence to our Trust & Safety team.
• Final Verdict: Geekvators Technologies Ltd reserves the right to make the final, binding decision on all disputes based on the evidence provided and the courier's delivery report.

6. Platform & Logistics Fees

By using Panmile, you agree to the associated costs of the escrow and logistics infrastructure:

• Platform Fee: Panmile charges an escrow facilitation fee (standard rate of 1.5% of the asset value, subject to change) which can be paid by the buyer, the seller, or split 50/50 as agreed in the contract draft.
• Logistics Fees: Shipping costs are calculated dynamically via our logistics partners and must be paid upfront by the designated party before the courier is dispatched.
• Non-Refundable Policy: Once a courier has been dispatched, all platform escrow fees and logistics fees are strictly non-refundable, regardless of whether a dispute is later filed or the item is returned.