TradeSafe incorporates an embedded dispute resolution mechanism. If the parties cannot resolve the dispute on the system within 21 business days, then the parties will have the opportunity to elect arbitration. Arbitration refers to the process whereby an independent arbitrator is assigned to the transaction to adjudicate the merits of the disputing parties.
We ascribe to the Arbitration Foundation of Southern Africa's (AFSA) rules for expedited arbitrations. The adjudicator’s decision is final and binding on both parties. For more information on the AFSA's rules for expedited arbitrations, please click here.
TradeSafe will safeguard the Buyer's funds until the dispute has been finalised. We will only release the funds once we have received a written agreement from both parties as to the decision from the arbitrator, or once we have received a written ruling from a court of law.
We have found that arbitration serves as a deterrent. Parties do their best to resolve their differences during the dispute resolution period in order to avoid the costlier arbitration process.