Payments

Classify24 Payments are flexible payments– direct payments, financial instruments or Classify24 Escrow Payments for products and services for sellers, buyers, service providers and service seekers.

In handling transactions, Classify24 offers flexible payments such as:
i. Classify24 direct payment through Classify24 payment processor(s), direct bank transfers or bank deposits.
ii. Financial instruments issued to the seller/service provider directly. Examples of financial instruments are LC(Letter of Credit), SBLC(Standby Letter of Credit), BG(Bank Guarantee), BEC(Bank Endorsed Cheque), BF(Block Fund), BD(Bank Draft), etc.
iii. Classify24 Escrow Service which protects buyers and sellers against frauds and scams based on Classify24 Direct Payment Escrow or Classify24 Financial Instrument Escrow. Classify24 Escrow implies that Classify24 is the fiduciary for the transactions.

Classify24 Escrow Service minimize risks for both sellers/service providers and buyers/service recipients. Buyers make payments to Classify24 Escrow knowing fully well that they will receive the products/services they paid for. On the other hand, sellers/service providers will deliver products or provide services bearing in mind that the payment has already been made by the buyer/service recipient but held in Escrow by Classify24 which they will get after delivering quality products and quality services.

It should be noted that Classify24 Financial Instrument Escrow is aimed at preventing financial instrument scams and frauds by sellers/service providers who are only interested in monetizing financial instruments with no intention of actually delivering the product or providing the service for which the instruments are issued. As buyers/service seekers, it should be noted that issuing financial instruments come with some costs. These costs can be minimized or avoided by opting for Classify24 Direct Payment Escrow based on mutual agreement by the transacting parties.

Except when and where Classify24 is the direct seller or direct service provider, Classify24 do not encourage any form of upfront or advance payment. Thus, when and where Classify24 is not the direct seller or direct service provider, Classify24 recommends that both parties should opt for Classify24 Direct Payment Escrow or Classify24 Bank Instrument Escrow. This is because Classify24 prioritizes protecting all parties against scams and frauds.

Note: We are only interested in facilitating genuine and legitimate business transactions. Therefore, bear in mind that you and your business/company/organization will be reported to appropriate law enforcement agencies for investigation and prosecution where necessary if in your course of transacting on Classify24.com, you engage in any of the following.

  • Any attempted or perpetuated fraud, scam, money laundering or terrorism financing.
  • As a buyer/service recipient, if you issue fake financial instrument to us(Classify24 Financial Instrument Escrow) on behalf of the seller/service provider for transactions that are based on financial instruments.

How Classify24 Escrow Works for Transactions

1. After both parties agree to transact via escrow payments, the buyer/service recipient makes direct payment to us(Classify24 Direct Payment Escrow) or issue financial instrument to us(Classify24 Financial Instrument Escrow) on behalf of seller/service provider.
2. After we confirm receipt of direct payment or financial instrument, we inform the seller/service provider to deliver product/provide service. Evidence of delivery is sent to us by the seller/service provider.
3. After buyer/service recipient confirms the receipt of product or service in good condition and satisfaction without any dispute whatsoever, we release payment to seller or service provider less all charges.

Classify24 Dispute Resolution for Transactions

We engage in dispute resolution between seller/service provider and buyer/service recipient in case there is dispute about the transaction with utmost fairness that is completely void of any bias i.e without fear or favour.

All charges incurred from bank(s) and payment processor(s) will be deducted in case refunds are made to buyer/service recipient.

It is our earnest desire to resolve any dispute amicably in a timely manner should any dispute arise. However, where and when we are unable to resolve such dispute, either party is at liberty to take legal action.

Note: We Classify24, Classify24’s parent company and management dissociate ourselves and we will not be part or be involved in any form of legal action hence our resolve to provide unbiased dispute resolution. Therefore, both parties hereby agree to absolve Classify24, Classify24’s parent company and management from all legal actions should any arise.

 

Classify24 Seamless Transactions

We are more interested in facilitating seamless transactions void of any form of dispute for both parties. Therefore, in order to prevent disputes, we urge sellers/service providers to offer quality products and services as well as buyers/service recipients to stick to agreed terms of the transaction. Above all, we urge all parties to deal with responsibility, accountability and transparency.

Proof of Payment

You will have to send us proof of payment if you are making payment to us via bank deposits and online bank transfers. You can send us your proof of payment by contacting us using our contact form after you have made payment for products or services. Please, ensure you state the full details of what you paid for, the amount paid, your paying bank details and attach/upload evidence of payment. This will help us in confirming your payment and effect processing your order in a timely manner.

Note: You do not need to send us proof of payment if you made payment through our online payment processor(s) via debit cards, credit cards, etc.