Dispute Policy

1. Overview

GoldChain operates an escrow-protected marketplace in which buyer funds are held securely until delivery and verification conditions are satisfied. When a transaction cannot be completed as agreed, either party may initiate a dispute at no cost. This policy describes the circumstances under which disputes may be raised, the process for resolution, and the possible outcomes.

This policy applies to all transactions conducted through the GoldChain marketplace between verified Producers, Exporters, Importers, and Retailers. By using the platform, all participants agree to the dispute resolution procedures set forth herein.

2. Escrow Protection

Every marketplace transaction is protected by GoldChain's escrow system. When a buyer submits an offer and the seller accepts, the buyer's payment is secured in escrow. Funds remain in escrow throughout the shipping and verification process and are only released to the seller after the buyer confirms delivery and authenticity verification is complete.

The escrow mechanism ensures that sellers only receive payment for verified deliveries of authentic minerals and that buyers are protected from non-delivery or receipt of goods that do not match the listing specifications.

3. Grounds for Dispute

A dispute may be initiated by either the buyer or the seller under the following circumstances:

Buyer-Initiated Disputes

Non-Delivery: The mineral lot was not delivered within the agreed timeframe and tracking information does not confirm delivery
Weight Discrepancy: The received lot weight does not match the weight specified in the listing, beyond an acceptable tolerance
Purity Discrepancy: The assayed purity of the received gold does not match the purity stated in the listing
Documentation Mismatch: Certification documents, provenance records, or export licenses accompanying the shipment do not match those presented in the original listing
Damaged Goods: The mineral lot was damaged during transit to the extent that its value is materially affected

Seller-Initiated Disputes

Non-Confirmation: The buyer has received the shipment (as confirmed by tracking data) but has not confirmed delivery within the required timeframe
Bad Faith Rejection: The buyer has rejected delivery without providing evidence of a legitimate discrepancy

4. Dispute Process

Either party may open a dispute at no cost through the GoldChain platform. When a dispute is initiated, the transaction is flagged for administrative review and escrowed funds remain locked pending resolution. The process proceeds as follows:

Initiation

The disputing party selects the relevant transaction and provides a written description of the issue along with any supporting evidence. Disputes must be raised within 7 calendar days of delivery confirmation (for buyer-initiated disputes) or within 7 calendar days of the delivery confirmation deadline (for seller-initiated disputes).

Evidence Submission

Both parties will be notified of the dispute and given 5 business days to submit supporting documentation. Acceptable evidence includes photographs, independent assay reports, shipping receipts, tracking records, correspondence between parties, and any other documentation relevant to the claim. Failure to submit evidence within the required timeframe may result in a decision based solely on the evidence provided by the other party.

Administrative Review

GoldChain's compliance team will review the evidence submitted by both parties, examine the original listing specifications, verify shipping and tracking records, and consult blockchain-recorded transaction data. The review will be completed within 10 business days of the evidence submission deadline. GoldChain may request additional documentation from either party during the review period.

Resolution

Following the review, GoldChain will issue a determination and execute one of the following outcomes:

Full Refund to Buyer: Escrowed funds are returned in full to the buyer. This outcome applies in cases of confirmed non-delivery, material misrepresentation of weight or purity, or fraudulent documentation.
Full Release to Seller: Escrowed funds are released in full to the seller. This outcome applies when the buyer's claim is unsupported by evidence, the goods were delivered as described, or the buyer failed to confirm delivery in bad faith.
Partial Settlement: Escrowed funds are distributed between buyer and seller in proportions determined by the specifics of the case. This outcome applies when the delivered goods partially conform to the listing specifications.

5. Marketplace Fees in Disputed Transactions

There is no fee to open a dispute. When a dispute results in a full refund to the buyer, marketplace fees are not charged. When a dispute results in a full release to the seller or a partial settlement, marketplace fees are calculated based on the amount released to the seller.

6. Blockchain Record

All dispute outcomes are recorded on the blockchain ledger alongside the original transaction data. The dispute record includes the nature of the dispute, the resolution outcome, and the final settlement amounts. This creates an immutable audit trail for regulatory reporting and ensures transparency for all marketplace participants.

7. Compliance Violations

If a dispute reveals evidence of fraud, misrepresentation of provenance, use of falsified documentation, or violation of the Clean Gold Initiative, GoldChain reserves the right to suspend or permanently terminate the offending party's marketplace account, report the violation to the appropriate regulatory authorities, and withhold escrowed funds pending investigation.

Participants found to have submitted fraudulent claims during the dispute process are subject to the same enforcement actions.

8. Limitations

GoldChain's dispute resolution process is an administrative procedure and does not constitute legal arbitration or mediation. GoldChain acts as a neutral marketplace operator and makes determinations based on the evidence available. Either party retains the right to pursue legal remedies through the courts of competent jurisdiction. GoldChain's liability in any dispute is limited to the amount held in escrow for the transaction in question.