Castler closes Pre-Series A funding of $6 Million led by Flipkart, Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

Can a buyer or seller cancel a transaction once it has been initiated through a cross-border escrow service?

Castler Digital Identifier system is a secure platform that facilitates cross-border transactions between buyers and sellers. It acts as a neutral third party that holds the funds until the transaction is completed successfully. The question is whether a buyer or seller can cancel a transaction once it has been initiated through this system.

The answer is that it depends on the terms and conditions agreed upon by both parties before initiating the transaction. Castler provides a secure and transparent platform for the transaction, but it does not have the authority to cancel or modify the terms of the transaction. It is up to the buyer and seller to agree on the terms and conditions, including the cancellation policy.

If the buyer or seller wishes to cancel the transaction, they must communicate with each other and come to an agreement. If they cannot come to an agreement, they may need to seek legal advice or mediation to resolve the issue. Castler will not release the funds until the transaction is completed or cancelled according to the agreed-upon terms and conditions.