Wallet & Escrow Terms of Service
Effective 9 October 2026
RC Brown Automotive Limited. Accepted once, before your first wallet top-up or payment.
1. Introduction & parties
These Wallet & Escrow Terms ("Terms") govern the funding and holding of funds in your RC Brown Automotive ("RCBA") app wallet. By topping up your wallet, you enter into an arrangement with RCBA and our designated banking partner, Zenith Bank Plc ("Escrow Agent").
2. Escrow structure & holding of funds
- All funds deposited into your RCBA wallet for the purpose of vehicle importation are transferred directly into a designated, segregated escrow account managed by Zenith Bank Plc.
- Your funds are individually referenced to your profile and specific vehicle transaction.
- Funds held in escrow remain your property until release conditions are met, but you agree that they cannot be withdrawn directly by you without a joint release instruction or order as outlined in these Terms.
3. Release of funds
Funds held in the Zenith Bank escrow account shall only be disbursed to RCBA upon the occurrence of agreed vehicle procurement milestones, or refunded to your designated bank account upon cancellation, pursuant to RCBA's refund policy and joint transaction sign-off.
4. Fees & charges
Bank escrow fees, transfer charges, or maintenance fees applicable to the Zenith Bank escrow account may be deducted from the deposited funds as disclosed at the time of your specific vehicle transaction.
5. Limitation of liability
Zenith Bank Plc acts strictly as a custodian and disbursement bank and is not responsible for vehicle selection, shipping, customs clearance, or delivery. RCBA and Zenith Bank shall not be liable for losses caused by force majeure events or accurate compliance with joint instructions.
6. Governing law
These Terms are governed by the laws of the Federal Republic of Nigeria, and any disputes shall be resolved via arbitration in Lagos under the Arbitration and Mediation Act 2023.