Online Escrow Process Guidelines For Buyers and Sellers

  • Print Article |
  • Send to a Friend |
  • |
  • Add to Google |

1. Buyer and Seller agree to terms.
The Buyer and Seller need to agree on some factors namely: transaction terms; including merchandise description, sale price, number of days for the buyer's inspection, and any shipping information.

If you are dealing with a crooked, fly by night scammer seller, at this point he/she will not agree with you working with escrow in fact he/she will discourage escrow, so no point in following up the second step since you can detect seller is not genuine and true to you.

2. Buyer pays
Buyer submits an available payment option, escrow verifies the authenticity of it.

3. Seller Ships Merchandise
Upon payment verification, seller is authorized to ship merchandise and submit tracking information. verifies that the buyer receives the payment.

4. Buyer Accepts the Merchandise.
After the set number of days of inspection, and the option of accepting or rejecting the merchandise is submitted to escrow.

5. Pays the Seller
Payment is submitted to the seller according to the method that seller accepts. The transaction is complete.

How Buyers are protected:

* tracks the shipped merchandise and verifies it was delivered.
* The Seller isn't paid until the Buyer accepts the merchandise, or the inspection period expires.

How Sellers are protected:

* confirms when the Buyer receives merchandise.
* The Seller is authorized to ship only after verifies good funds.

In my experience, I would agree using escrow if payment exceeds U.S.$10,000 then escrow is useful and practical for me as a buyer.

For more information, get a free account registration at and explore, read everything posted on it, very useful information.

Rate this Article:
  • Article Word Count: 265
  • |
  • Total Views: 153
  • |
  • permalink
  • Print Article |
  • Send to a Friend |
  • |
  • Add to Google |