Marketplace Lexicon, Legal Definitions & Terminology
Authoritative definitions governing all platform agreements and rules
This Glossary establishes the binding definitions for terms utilized throughout ePaisay agreements, policies, dispute adjudications, and system notices. In the event of ambiguity, these definitions take legal precedence.
Strategic Architecture & Pillars
- Platform / Marketplace: The digital venue, websites, APIs, mobile apps, and services operated by ePaisay.
- User: Any legal entity or natural person registered on the platform, including Buyers, Sellers, Agencies, and Franchisees.
- Escrow: The programmatic holding mechanism wherein transaction funds are locked until contractual fulfillment is verified.
- SLA (Service Level Agreement): The mandatory operational performance benchmarks governing dispatch times, dispute response, and fulfillment.
- INAD (Item Not As Described): A legal dispute condition wherein delivered merchandise materially diverges from the listed specification or condition.
- Rolling Reserve: A designated percentage of seller proceeds held by the platform for a fixed duration to absorb potential chargebacks or refund liabilities.
- EPAY Utility Token: The cryptographic digital utility medium utilized for discounted settlement, fee deduction, and platform governance.
Operational Mechanics & Flow
Strike Point
A quantitative disciplinary penalty recorded on a user account following substantiated policy violations.
Cure Period
The statutory or contractual timeframe afforded to a participant to rectify a detected infraction before sanctions apply.
Disintermediation / Circumvention
The prohibited act of taking transactions or communications off-platform to evade marketplace commissions.
Governance & Platform Integrity
Definitions herein are incorporated by reference into all Terms of Service, Seller Agreements, and Division Policies.