How escrow works

DieselFOB.com is a product-specific trading website operated by ALGHAF MARINE DMCC.

1. Agent appointment — An appointed independent escrow agent is named in the transaction record and reflected in the contractual package for that deal.
2. Party identification — The escrow agent identifies buyer, seller and authorised signatories. KYC and compliance checks are completed before the escrow agreement is executed.
3. Escrow agreement execution — Buyer, seller and the appointed independent escrow agent execute the escrow agreement tied to the SPA. Release and refund conditions are defined in writing.
4. Settlement contour confirmation — The supported digital asset, blockchain network and transaction-specific settlement address are confirmed exclusively in the Trading Portal and contractual documents.
5. Wallet verification and funding — Buyer registers and verifies the sender address in the Portal. Funds are transferred only to the assigned transaction-specific settlement address.
6. Escrow locking — After network confirmation and compliance clearance, funds are locked to the specific transaction and visible in the settlement ledger as locked — not available for release.
7. Milestone review and release — Milestone evidence is uploaded to the Trading Portal. The appointed independent escrow agent reviews documents, confirms the applicable condition and authorises staged release; the settlement operator executes the applicable tranche.
8. Refund — If contractual conditions require return of funds — for example, a documented failure to meet agreed conditions — the escrow agent processes refund to the buyer's verified return address under the escrow agreement.

Illustrative process only. Actual milestones, funding stages and release conditions are defined in the signed SPA, escrow agreement and Trading Portal record for each transaction.