1. About Clearport
Clearport is a marketplace operated by Clearport Trade Holdings Ltd ("Clearport") that connects Nigerian importers, exporters, and cargo owners ("Cargo Owners") with verified clearing & forwarding agents ("Agents"). Clearport is not a customs broker, freight carrier, or licensed financial institution. Clearport is a neutral intermediary holding funds in escrow on behalf of the parties.
2. Escrow Disclosure
By funding any escrow on Clearport, the Cargo Owner agrees that:
- Clearport receives the full bid amount plus a 3.5% service fee in a designated holding account.
- 30% of the bid amount is released to the Agent as upfront working capital once Clearport confirms the transfer (typically within 1 business hour for manual bank transfers).
- The remaining 70% is held until the Cargo Owner confirms job completion, OR is automatically released to the Agent 7 calendar days after the Agent marks the job complete, unless a dispute is opened.
- Disputes freeze the held balance immediately and are reviewed by a Clearport admin within 48 hours. Outcomes may be: full release, full refund, or 50/50 split, at admin discretion.
- Clearport's 3.5% fee is non-refundable once the Agent has been awarded and escrow funded, except where Clearport determines the Agent acted in bad faith.
3. Agent Obligations
Agents must complete verification, bid in good faith, communicate through Clearport, and not solicit Cargo Owners to transact off-platform for the duration of the engagement and 12 months thereafter.
4. Cargo Owner Obligations
Cargo Owners must provide accurate cargo information, fund escrow only from accounts in their own name, and not pressure Agents to bypass customs or regulatory requirements.
5. Limitation of Liability
Clearport's liability in any single transaction is limited to the amount currently held in that transaction's escrow. Clearport is not liable for cargo damage, customs penalties, demurrage, or any consequential losses.
6. Governing Law
These terms are governed by the laws of the Federal Republic of Nigeria, with exclusive jurisdiction in Lagos State courts.
Questions? Contact legal@clearport.ng.