This document governs all monetary transactions facilitated by Miradike Agency Ltd., including property escrow services and the purchase of physical retail goods via our e-commerce storefront.
PART A: Property Escrow Services
To secure high-value transactions and protect both buyers and agents, Miradike Agency Ltd. offers structured escrow services.
1. Escrow Tiers and Fee Structures
Users may opt into one of two distinct escrow frameworks:
A. Full Escrow Service
- Fee: 10% of the total property cost, subject to a minimum fee baseline of ₦500,000.
- Coverage: This fee comprehensively covers transaction logistics, rigorous due diligence, paperwork facilitation, and legal verification.
- Exclusion: The Full Escrow fee does not include the independent Agency fee, which is billed separately.
B. Due Diligence Package
- Fee: ₦200,000 for the initial consultation. This fee is strictly non-refundable.
- Coverage: Provides foundational oversight. However, the client remains solely responsible for covering all subsequent statutory fees and logistical expenses required to complete the due diligence process.
2. Payment Release and Waiting Periods
To ensure buyer satisfaction following a property inspection, funds held in escrow are subject to a strict disbursement schedule:
- Waiting Period: All transactions carry a mandatory seven (7) day waiting period commencing on the confirmed property inspection date.
- Disbursement Window: Following the expiration of the 7-day waiting period, approved funds are disbursed once a week, specifically on the final business day of that week.
3. Escrow Dispute Resolution
If a buyer raises a formal dispute regarding the property’s condition or legal standing within the 7-day waiting period:
- Agent Non-Response: If the representing agent fails to respond to the dispute notification within the 7-day window, the funds will be automatically refunded to the buyer.
- Active Disputes: If both parties engage but cannot reach a consensus, Miradike Agency Ltd. will step in as the final arbitrator. We will review all submitted evidence, communications, and inspection reports. The subsequent decision made by Miradike Agency Ltd. regarding the release or refund of the funds shall be final and binding on both parties.
PART B: E-Commerce and Retail Logistics
For the purchase of physical goods (e.g., building materials, interior decor) sold directly by the Platform:
1. Shipping and Delivery
We offer nationwide shipping across Nigeria. Delivery timelines are estimated at checkout based on the delivery region and the logistical requirements of the specific materials purchased.
2. Returns and Refunds (Physical Goods)
In compliance with the Federal Competition and Consumer Protection Commission (FCCPC) Act:
- Return Window: Buyers have a standard seven (7) day window post-delivery to request a return for physical items.
- Approval Process: All return requests are evaluated on a case-by-case basis. Miradike Agency Ltd. retains the explicit right to approve or deny return requests based on the condition of the item and the nature of the claim.
- Return Shipping Liability: If a return is approved due to buyer preference or an error not originating from the Platform, the buyer is strictly responsible for covering all return shipping costs. If the return is necessitated by a proven error or defect on the part of Miradike Agency Ltd., the Platform will absorb the return logistics costs.
Need help?
Contact us for questions related to refunds and returns.