LIBERTY GIG INSURANCE
175 Berkeley Street, Boston, MA 02116, United States
Effective Date: December 6, 2023
Policy Version: LIB-ESC-POL-2025-001
This Withdrawal Policy governs all withdrawal requests from escrow accounts held by Liberty Gig Insurance ("Escrow Agent") for gig workers, freelancers, and independent contractors ("Beneficiaries") under the Gig Insurance Escrow program.
All fees associated with escrow services are paid in full at the time of deposit:
Insurance Disbursement Fee: 3.5% of total escrow amount
Processing Fee: Included in the 3.5% disbursement fee
Administrative Fee: $0 (covered under disbursement fee)
No Additional Charges: No withdrawal fees, transfer fees, or hidden costs will be assessed at time of withdrawal
Fee Payment: The Depositor (client/platform) is responsible for paying all fees upfront upon funding the escrow account. Beneficiaries receive the full escrow amount without any deductions.
Every escrow transaction is automatically protected by our 3-Day Free Insurance Coverage from the date of deposit:
Coverage Period: 72 hours from timestamp of initial deposit
Coverage Includes:
Protection against fraudulent deposit reversals
Insurance against platform insolvency during coverage period
Dispute mediation services
Payment guarantee up to $10,000 per escrow
Coverage Exclusions:
Withdrawals requested after 72-hour window
Activities violating our Terms of Service
Fraudulent claim submissions by Beneficiary
Standard Withdrawal:
Request Submission: Beneficiaries may submit withdrawal requests 24/7 via the Liberty Gig Insurance portal
Processing Time: 1-2 business days after request
Minimum Withdrawal: $50.00 USD
Maximum Withdrawal: Full escrow balance
Expedited Withdrawal:
Availability: Available after 3-day insurance period expires
Processing Time: Same business day if requested before 2 PM EST
Additional Fee: $0 (no extra charge)
Bank Transfer Timeline:
Domestic (US): 1-3 business days after processing
International: 3-7 business days after processing
Identity Verification: All Beneficiaries must complete KYC verification before first withdrawal
Bank Account: Valid bank account or digital wallet must be linked and verified
Escrow Status: Funds must be released by Depositor and past insurance hold period
Documentation: Completed W-9 (US) or W-8BEN (international) required
No Partial Holds: Once released, full escrow amount is available for withdrawal
Within 3-Day Insurance Period:
Depositor may request cancellation with documented dispute
Funds held pending investigation (maximum 5 business days)
If approved, full refund to Depositor minus 1% cancellation fee
After 3-Day Insurance Period:
No cancellations permitted
Disputes must go through formal arbitration process
Beneficiary withdrawal rights are protected
Withdrawal Support Team:
📧 individual.claims@libertygiginsurance.com
📞 1-800-LIB-GIGS (1-800-542-4447)
⏰ Monday-Friday, 9 AM - 6 PM EST
Emergency Escalation:
For urgent withdrawal issues, contact your assigned Gig Insurance Specialist directly.
Liberty Gig Insurance reserves the right to modify this policy with 30-day written notice to active Beneficiaries. Continued use of services constitutes acceptance of policy terms.
END OF POLICY
This document is legally binding and subject to the Master Escrow Services Agreement.
