Payments, Escrow & Payouts Terms

Gloseg B2B Limited Effective Date: August 16, 2026 Version: 1.0

This document is the authoritative statement of how money moves on Gloseg. It supersedes and replaces, in full, the previous "Payment Processing Terms" and "Escrow Service Agreement" documents. Where any other Gloseg document describes payment, escrow, commission, or payout mechanics, this document controls. It forms part of, and is incorporated into, the Gloseg Terms of Service.

Definitions

"Order" means a binding transaction created from an Accepted Quote or Accepted Sample Quote between an Ordering Organization and a Supplying Organization.

"Accepted Quote" means the version of a quote (standard or sample) that both the Ordering Organization and the Supplying Organization have confirmed through the platform, and which fixes the canonical price, currency of record, quantities, and payment schedule for an Order.

"USD Pivot" means the internal computation currency (United States Dollars) that Gloseg uses to calculate commission, fees, and cross-currency conversions, regardless of the currency shown to any party on screen.

"Display Currency" means a currency other than USD that Gloseg shows to a user for convenience, converted at an indicative rate that is not a guaranteed settlement rate.

"Escrow" means the holding of Buyer funds by Gloseg's payment partners on Gloseg's instruction, pending satisfaction of Release Conditions, before funds are made available for Payout to a Seller.

"Milestone" means a defined stage of an Order (for example, deposit, pre-shipment, or final balance) against which a specific portion of Escrow funds is held and later released.

"Release Condition" means the evidence or event that must occur before Gloseg Operations authorizes release of Escrowed funds from a Milestone, including delivery evidence, inspection sign-off, Auto-Release expiry, or a Dispute resolution outcome.

"Auto-Release Window" means the configured number of days after a Release Condition becomes eligible, during which a Buyer may raise a Dispute before funds are automatically marked eligible for release.

"Payout" means the operator-triggered transfer of released Escrow funds, net of Commission and fees, from Gloseg's holding account to a Seller's verified bank account or payout instrument.

"Commission" means the percentage fee Gloseg charges a Seller Organization on the USD Pivot value of an Order, determined by the Seller's Tier at the time the fee is computed.

"Tier" means a Seller Organization's commission classification (Standard, Silver, Gold, Platinum, Diamond) assigned under the Gloseg trust and verification programme.

"Gateway" means a third-party licensed payment service provider or banking partner that Gloseg routes transactions through. Buyer payments are held by licensed banking and payment partners in segregated accounts, on Gloseg's instructions, and released to the Seller only when the agreed order milestones are met. Partners may differ by country and may change over time.

"Chargeback" means a payment reversal requested by a Buyer's card issuer or bank under card-network or banking rules.

1. Scope and parties

1.1 Application

1.1.1 Who this document binds

Every Ordering Organization (Buyer) and Supplying Organization (Seller) that sends or receives money through Gloseg.
Individual users act only on behalf of the Organization that employs or authorizes them; payment obligations attach to the Organization, not the individual.

1.2 Relationship to other documents

1.2.1 Order of precedence

This document governs money mechanics. The Refund & Dispute Resolution Policy governs how disputed funds are adjudicated. The Trade Assurance Policy governs claims coverage. Where these documents overlap, this document is authoritative on payment mechanics and the other documents are authoritative on process and remedy.

2. Supported payment methods and gateway routing

2.1 Buyer payment methods

2.1.1 Accepted instruments

Card payments, bank transfer (including local African bank rails where a Gateway supports the corridor), and mobile money where a Gateway partner supports the destination country.
Available methods vary by Buyer country, Order value, and Gateway coverage; the checkout flow displays only methods actually available for that Order.

2.2 Gateway routing

2.2.1 How Gloseg selects a Gateway

Gloseg routes each transaction to a Gateway based on the Buyer's country, the Seller's country, currency, and Order value. Gloseg may change routing at any time to maintain service continuity, without changing the price the Buyer agreed to pay.
Gloseg is not the merchant of record in every corridor; in corridors where a Gateway is the merchant of record, that Gateway's own terms apply in addition to this document for the mechanics of card capture and initial settlement.

3. Order-to-payment lifecycle

3.1 Sequence

3.1.1 Standard lifecycle

Buyer and Seller reach an Accepted Quote (or Accepted Sample Quote).
Gloseg generates an Order and an Invoice reflecting the Accepted Quote's price, currency of record, and Milestone schedule.
Buyer funds the Order through a supported payment method; funds are captured by the Gateway and placed into Escrow.
Milestones are released as Release Conditions are met.
Gloseg Operations triggers Payout to the Seller for released amounts, net of Commission and fees.

3.2 The canonical quote as source of truth

3.2.1 Single source of pricing

The Accepted Quote is the only authoritative statement of price, quantity, and payment schedule for an Order. Listing prices, RFQ drafts, chat messages, and prior quote versions are not binding once a quote is accepted.
Any amendment to price or schedule after acceptance requires a new quote version, re-acceptance by both parties, and, if funds are already in Escrow, an Escrow amendment approved by Gloseg Operations.

4. USD pivot pricing and FX display

4.1 Computation currency

4.1.1 Why USD is used

Gloseg computes Commission, gateway cost allocation, and cross-border reconciliation in USD because Sellers operate across 54 African countries with different local currencies and Buyers are supported worldwide.
The Accepted Quote records a currency of record (see clause 15) for accounting purposes; USD Pivot values are derived from that currency of record at the exchange rate in effect at the time of quote acceptance.

4.2 Display conversion

4.2.1 Indicative, not guaranteed

Any amount shown in a Display Currency is an indicative conversion for convenience only. It is not a rate Gloseg or any Gateway guarantees to honour at settlement. The amount actually charged to a Buyer or paid to a Seller is fixed by the currency of record on the Accepted Quote and Invoice, not by a Display Currency figure a user may have seen earlier in the flow.

5. Platform commission by tier

5.1 Tier schedule

5.1.1 Commission rates

Tier	Commission on Order value	Notes
Standard	Set out in the Fee Schedule referenced by the Terms of Service	Default tier for unverified/verified Sellers below Silver
Silver	Set out in the Fee Schedule referenced by the Terms of Service	Entry trust tier
Gold	10%	Requires Gold verification status
Platinum	7%	Requires Platinum verification status
Diamond	5.5%	Highest trust tier

5.1.2 Basis of calculation

Commission is calculated on the USD Pivot value of the Order (goods and any platform-quoted services within the Accepted Quote), before Gateway fees, taxes, or freight pass-throughs unless the Accepted Quote states those items are commissionable.

5.2 Rate changes

5.2.1 The 14-day effectivity rule

A change to a Seller's Commission rate, whether from a Tier change or a platform-wide rate revision, takes effect 14 days after Gloseg records the change against the Seller Organization's account.
Orders with an Accepted Quote dated before the effective date are billed at the rate in force on the date of acceptance, not the new rate, even if Payout occurs after the change takes effect.
Gloseg notifies the affected Organization of a Tier or rate change through the platform and by email to the Organization's registered administrators.

6. Gateway and settlement fees

6.1 Pass-through fees

6.1.1 Who bears Gateway cost

Gateway processing fees (card interchange, bank transfer fees, mobile money fees) are disclosed at checkout or on the Invoice and are borne as stated on the Accepted Quote: by the Buyer as an add-on, by the Seller as a deduction from Payout, or split, depending on the commercial terms agreed in the quote.
Currency conversion spreads applied by a Gateway when a Payout currency differs from the currency of record are a settlement cost borne by the Seller unless otherwise agreed.

7. Taxes and withholding

7.1 Responsibility

7.1.1 Each party's own taxes

Each Organization is responsible for determining and remitting its own applicable taxes (including VAT, sales tax, import duty, and income tax) arising from an Order. Gloseg is not a tax agent, does not file returns on behalf of any Organization, and does not guarantee tax treatment in any jurisdiction.
Where a jurisdiction requires Gloseg or a Gateway to withhold tax at source, the withheld amount is deducted before Payout and reflected on the Payout statement; Gloseg will provide documentation of the withholding on request to support the Seller's own tax filings.

8. Escrow hold conditions

8.1 When funds enter Escrow

8.1.1 Capture and hold

Buyer funds are captured by the Gateway and placed into Escrow immediately upon successful payment for a Milestone. Funds remain in Escrow until a Release Condition is satisfied for that Milestone.

8.2 What Escrow is not

8.2.1 No general-purpose account

Escrow is transaction-specific. It is not a wallet, a store-of-value account, or a line of credit for either party. Funds cannot be redirected to a different Order without a new Accepted Quote and Gloseg Operations approval.

9. Milestones and evidence for release

9.1 Defining milestones

9.1.1 Typical milestone structure

Milestones are set out in the Accepted Quote and commonly include: deposit on order confirmation, pre-shipment balance on inspection or production completion, and final balance on delivery or documentation handover. Exact structure is agreed between Buyer and Seller within the quoting flow.

9.2 Evidence required for release

9.2.1 Acceptable delivery evidence

Carrier proof of delivery, signed delivery note, customs clearance confirmation, inspection report referencing the Order, or Buyer's affirmative confirmation in the platform.
Where a freight RFQ was dispatched through Gloseg's vetted forwarder network, carrier tracking data from that forwarder may be used as delivery evidence for the relevant Milestone.

10. Auto-release windows

10.1 How Auto-Release works

10.1.1 Configuration

Each Milestone carries an Auto-Release Window, configured at quote creation within platform-set minimum and maximum bounds, and disclosed to both parties before acceptance. Typical windows range from 3 to 14 days after delivery evidence is logged, depending on goods category and shipment mode.

10.1.2 Effect of the window

If the Buyer does not raise a Dispute before the Auto-Release Window expires, the Milestone funds become eligible for release and, subject to clause 12, are queued for Payout. Raising a Dispute before expiry pauses release for that Milestone pending resolution under the Refund & Dispute Resolution Policy.

11. Payout mechanics and bank verification

11.1 Operator-triggered payouts

11.1.1 No automatic payout

Payout is not automatic on release of Escrow funds. Gloseg Operations triggers each Payout after confirming release conditions, sanctions screening clearance, and payout account verification. This manual control step exists to prevent misdirected or fraudulent payouts.

11.2 Bank verification prerequisites

11.2.1 What a Seller must complete first

A Seller Organization must have a verified payout account (bank account or supported payout instrument) with account name matching the verified Organization name before any Payout is triggered. Mismatched names, unverified accounts, or incomplete KYC on the Organization will hold a Payout until resolved.

12. Payout timing and cut-offs

12.1 Processing schedule

12.1.1 Batch timing

Step	Typical timing
Release condition satisfied	Day 0
Operator review and sanctions screening	Within 2 business days
Payout batch cut-off	Daily, business days only, per Gateway/corridor cut-off time
Funds received by Seller's bank	1 to 5 business days after batch, depending on corridor

12.1.2 Corridor variance

Actual timing varies by destination country, receiving bank, and Gateway. Gloseg publishes corridor-specific timing guidance in the payout dashboard; this table is indicative, not a guaranteed service level.

13. Failed and reversed payments

13.1 Failed Buyer payments

13.1.1 Effect on the Order

A failed capture does not create an Order obligation; the Accepted Quote remains open for a further payment attempt within a platform-set validity window, after which the quote may lapse.

13.2 Reversed payments

13.2.1 Bank-initiated reversals

Where a Gateway reverses a payment after Escrow funding (for example, due to a returned bank transfer or a confirmed fraud reversal by the paying bank), Gloseg will claw back any amount already released or paid out, first from the Seller's future Payouts and, if insufficient, by direct recovery action against the Seller Organization, and will notify both parties of the reversal and the recovery method.

14. Duplicate and idempotent payment handling

14.1 Prevention

14.1.1 Idempotency

Checkout submissions carry an idempotency key so that repeated submissions (for example, from a browser retry) do not create duplicate charges against the same Order and Milestone.

14.2 Correction

14.2.1 If a duplicate occurs

Where a duplicate capture is identified (for example, due to a Gateway-side fault), Gloseg will refund the duplicate amount to the original payment method within 10 business days of confirmation, without requiring a Dispute filing, provided the Buyer reports the duplicate through legal@gloseg.com with transaction references.

15. Refunds and partial refunds

15.1 Sources of a refund

15.1.1 How a refund arises

A refund may arise from: mutual agreement between Buyer and Seller recorded in the platform, a Dispute outcome under the Refund & Dispute Resolution Policy, a substantiated Trade Assurance claim, or an operational correction under clauses 13 and 14.

15.2 Mechanics

15.2.1 Partial refunds

A partial refund reduces the amount released to the Seller for the relevant Milestone; any portion already paid out to the Seller is recovered from future Payouts or by direct invoicing to the Seller Organization if no future Payout is available within a reasonable period.
Refunds are returned to the Buyer's original payment method where the Gateway supports it, or by bank transfer to the Buyer's verified account where it does not.

15.3 Interaction with the Refund & Dispute Resolution Policy

15.3.1 Which document governs what

This document states how a refund is executed once decided. The Refund & Dispute Resolution Policy states how the decision to refund, and its amount, is reached.

16. Chargebacks and payment reversals

16.1 Dispute process first

16.1.1 Express statement

Buyers are asked to use the Gloseg Dispute process before contacting their card issuer or bank, as it is usually the fastest way to resolve an order problem. Nothing in these Terms limits any right a Buyer has under card-network or banking rules.
Where a Chargeback is raised, the related escrow milestone is held while the issuer or bank investigates, and Gloseg will provide the order and Dispute records to the issuer or bank.
A Buyer may not recover the same amount twice. If a Chargeback returns funds already refunded through a Dispute resolution, the duplicated amount is repayable.
The sole route to a refund, price adjustment, or replacement remedy on Gloseg is the Dispute process under the Refund & Dispute Resolution Policy and, where applicable, the Trade Assurance Policy.

17. Sanctions and AML screening holds

17.1 Screening

17.1.1 When screening occurs

Every Order funding event and every Payout is screened against UN, EU, UK, US, and applicable regional sanctions lists, and against FATF-aligned AML risk indicators, before funds move.

17.2 Holds

17.2.1 Effect of a hold

A screening match or elevated risk indicator places the transaction on hold pending manual compliance review by Gloseg's compliance function. Gloseg will request supporting documentation from the relevant Organization and may extend the hold until the match is cleared or escalated to reporting obligations under applicable law. Gloseg is not liable for delay caused by a screening hold conducted in good faith.

18. Dormant and unclaimed balances

18.1 Dormancy

18.1.1 What counts as dormant

A released balance that cannot be paid out because the Seller Organization has not completed bank verification, or because the verified payout account is rejected by the receiving bank, is treated as dormant after 180 days of inactivity on that balance.

18.2 Handling

18.2.1 Notice and escheat

Gloseg will make reasonable efforts to contact the Organization's registered administrators before treating a balance as unclaimed. Unclaimed balances are held in a suspense account and, where required by applicable law, reported or remitted to the relevant authority; otherwise they remain claimable on completion of verification, subject to a reasonable administrative fee for extended dormancy disclosed in the Fee Schedule.

19. Currency of record for accounting

19.1 Statement

19.1.1 What appears on records

Invoices, Payout statements, and tax documentation state both the currency of record (as fixed on the Accepted Quote) and the USD Pivot equivalent used for Commission calculation. The currency of record, not any Display Currency, is authoritative for accounting and reconciliation.

20. Record retention

20.1 Retention period

20.1.1 How long records are kept

Gloseg retains transaction records, Escrow ledgers, Payout records, and screening logs for a minimum of 7 years, or longer where required by applicable AML, tax, or company law in Ghana, Nigeria, or the United Kingdom, to support audit, dispute, and regulatory inquiry.

21. Liability limits for payment intermediaries

21.1 Scope of liability

21.1.1 Intermediary role

Gloseg acts as an intermediary that instructs Gateways and holds Escrow instructions; it does not guarantee the uninterrupted availability of any Gateway, bank, or mobile money network.

21.1.2 Cap

To the maximum extent permitted by law, Gloseg's aggregate liability arising from payment processing, Escrow administration, or Payout mechanics for any single Order is limited to the value of funds actually held by Gloseg or its Gateways in respect of that Order, and Gloseg is not liable for indirect, consequential, or lost-profit damages arising from payment timing, Gateway outages, or currency movement between quote acceptance and Payout.

22. Governing law and jurisdiction

22.1 Governing law

22.1.1 Ghana law

This document is governed by the laws of the Republic of Ghana.

22.2 Dispute resolution forum

22.2.1 Arbitration

Any dispute arising from this document that is not resolved through the Dispute process is referred to arbitration with its seat in Accra, Ghana, under the arbitration rules agreed in the Terms of Service, and the arbitral tribunal's decision is final and binding on the parties, without prejudice to either party's right to seek interim relief from a competent court.

23. Amendments and notice of change

23.1 How this document changes

23.1.1 Notice

Gloseg may amend this document from time to time. Material changes are notified through the platform and by email to registered Organization administrators at least 14 days before the change takes effect, consistent with the effectivity rule applied to Commission changes under clause 5.2.

24. Severability and entire agreement

24.1 Severability

24.1.1 Partial invalidity

If any provision of this document is held invalid or unenforceable, the remaining provisions continue in full force.

24.2 Entire agreement

24.2.1 Integration

This document, together with the Terms of Service, the Refund & Dispute Resolution Policy, and the Trade Assurance Policy, constitutes the entire agreement between Gloseg and an Organization regarding payment, Escrow, and Payout mechanics, superseding all prior payment or escrow documents including the former Payment Processing Terms and Escrow Service Agreement.

Contact

Legal notices, questions about this document, data protection requests and compliance enquiries: legal@gloseg.com

Data subject requests may also be submitted through the Privacy & My Data surface at /privacy/my-data.

Gloseg B2B Limited Accra, Ghana, West Africa