Domain Transaction Terms
Last Updated: [DATE]
These Domain Transaction Terms govern the specific process of buying, selling, and transferring domain names brokered or owned by [GARQO BUSINESS NAME] ("Garqo"). These terms are supplemental to our general Terms of Service.
1. Purchase Agreements
A binding purchase agreement is formed when a buyer accepts a specific price offer in writing, or when Garqo accepts a buyer's offer in writing. Until such written agreement is established and payment instructions are issued, a domain name remains available for purchase by other parties.
2. Escrow and Payments
To protect both buyers and sellers, Garqo utilizes licensed third-party escrow providers or established registrar marketplaces for financial settlement. Buyers agree to submit payment to the designated escrow service within the timeframe specified in the purchase agreement (typically 48-72 hours).
3. Domain Transfer Process
Once funds are securely held by the escrow service, Garqo or the seller will initiate the domain transfer. This is done by either:
- Providing the buyer with an authorization code (EPP code) and unlocking the domain.
- Initiating an internal "account push" if the buyer uses the same registrar as the seller.
The buyer is responsible for having a valid account at an ICANN-accredited registrar to receive the domain.
4. Completion of Transaction
A transaction is deemed complete when the domain name has been successfully transferred to the buyer's control, as verified by WHOIS records or registrar confirmation. At this point, the escrow service is authorized to release funds to the seller.
5. Refunds and Cancellations
Due to the nature of digital assets, all domain sales are final once the domain has been transferred to the buyer's control. If a transaction fails to complete due to the seller's inability to transfer the domain, the buyer will receive a full refund from the escrow service.
6. Post-Transfer Responsibilities
Upon successful transfer, the buyer assumes all responsibility for the domain name, including but not limited to paying future annual renewal fees to their chosen registrar, managing DNS settings, and complying with ICANN policies.