⚖️Arbitration Policy


paydece is a custody platform that, through a smart contract, intermediates the purchase and sale transactions of goods and services, using cryptocurrencies as a means of payment, offering security, speed and decentralization in the operations. This document details the criteria for accepting claims submitted to paydece for the use of its smart custody contract, either directly or through marketplaces or e-commerce platforms. This policy has as its main objective:

Ensuring payment is made only for the provision of the promised services or goods.

For the purposes of this document, the party that purchases a service or goods will be called the Client or buying party and the counterparty that offers the service or goods will be called the Provider or selling party. The party facilitating the transaction and enforcing the resolution of this dispute (which may be a payment service provider, marketplace, or rewards platform) shall be known as the Platform.

The term Payment shall refer to the payment from the Client to the Provider, and for the sum of funds originally agreed prior to the initiation of the trade. The Claim made under this policy will refer to the execution of this originally envisioned Payment.

By participating in a dispute, all participants acknowledge that Kleros Court handles only the decision on the dispute, based on the evidence presented, while all other matters (including execution) are under the management of the Platform in question.

Compensation to the Client and/or Provider above and beyond the amount of the original payment is outside the scope of disputes under this policy.

Who can start a claim?

Any of the parties involved in the transaction can initiate a claim. The wallet that created the invoice and the wallet that sent the funds to the smart contract will be part of the transaction and may initiate a claim.

Preconditions for arbitration through Kleros

Before the voting process, the members of the jury must verify the fulfillment of the following criteria:

  1. The Payment is in escrow

    A claim will be considered valid only if the payment is in the escrow platform, before the claim is initiated.

    A claim will be considered valid only if during the claim process this payment remains in paydece's custody. paydece will recognize Kleros as the arbitration service in charge of resolving disputes only after its internal claims approval team has attempted to resolve the dispute, but the dispute has not been concluded. It should be noted that this point should not be reviewed by the Kleros juries. Kleros will not have jurisdiction until paydece verifies the internal procedure. It will be the claimant's responsibility to verify that they are raising a dispute in accordance with paydece's time and rules. (Exhibit A)

  2. Disputed Payment Amounts

    The amount of the Disputed Payment must match the initial agreement between Client and Provider. There is no possibility of partial payments. For clarity, there can only be a maximum of two options presented to Kleros jurors (other than "reject arbitration"), and these are: Execute the payment in full. (Release the funds contained in the contract in favor of the vendor or supplier) Reject the payment completely. (Refund the funds deposited by the client or buyer in the smart contract).

Acceptance or Rejection

If these criteria are met, jurors should carefully check the following before deciding on their vote:

  • Verify the authenticity of the evidence provided by all disputing parties.

  • Verify the actual delivery of goods or services and whether it meets the quality standards of the Platform in question.

Amendments & Additions

We may change this insurance policy in order to make it match new market circumstances when necessary. You’ll always be able to check the updated policy.

Arbitration & Complaints

We do our utmost to provide you with the speed, security and decentralization at the time to exchange goods or services. The claim process is supervised by Kleros, the world’s first decentralized court. Kleros is a trustless dispute resolution system that guarantees security, fairness and transparency.

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