General Escrow Instructions

What these instructions are

These are the General Escrow Instructions of Telnado LLC (“Telnado”). They apply to an escrow that a buyer and a seller open on Telnado. The transaction screen, these instructions, and the Privacy Policy together are the instructions for that escrow.

Telnado coordinates the escrow. It records the agreement, the parties, and the status. Regulated partners custody and move fiat and crypto. Telnado does not hold customer assets.

Parties

The seller is the party delivering the asset named on the escrow. The buyer is the party paying for that asset. Each party acts for itself. A person who is not named on the escrow has no rights in it.

The party who opens the escrow names the other party. A seller is identified by the seller id entered on the transaction summary.

One escrow

Each escrow covers one transaction: the title, asset, amount in USD, and the party who pays the escrow fee, as shown before the escrow is created. The escrow moves through agreement, compliance, custody, settlement, and close.

Times on the escrow use the calendar and clock of New York. The language of the escrow is English.

Agreement

The escrow is open when the party who creates it confirms these instructions, and it becomes agreed when the other party reviews the same details and agrees. Until both have agreed, either party may leave the escrow.

A change to the amount, the asset, the fee payer, or these instructions needs both parties. Telnado may decline a change that it cannot carry out with its partners.

Compliance, custody, and settlement

Both parties complete the checks Telnado and its partners require, including KYB, AML, and KYC where they apply. Telnado does not move funds or assets until those checks are complete and both parties have agreed.

Fiat and crypto stay with the custody partners named for the escrow. Settlement follows the agreed details. Telnado marks the escrow closed when the partners confirm that settlement is finished, or when both parties end the escrow before settlement.

Escrow fee

The transaction summary names who pays the escrow fee: the buyer or the seller. That choice is part of the escrow. The fee is collected from that party. It is not added to the subtotal until the amount of the fee is shown on the escrow.

If the escrow ends before settlement because a party withdraws, the party who agreed to pay the fee remains responsible for any fee that has already been earned.

Electronic agreement

Checking “I have read and agree” is your agreement to these instructions and to the Privacy Policy for this escrow. You can read, save, and print both documents. You agree to receive them electronically.

Contact

Questions about an escrow can be sent to contact@telnado.com. Telnado LLC, 42 West Street, Brooklyn, NY 11222, USA.