It could be either party, the buyer or the seller. But both of them MUST agree to the terms of the agreement.
That is part of the service WE provide. We draft the agreement so as to capture the understanding between buyer and seller. That way the transaction is smooth and seamless.
The small registration charge covers the drafting and setup of the agreement, while the 2% service charge covers the escrow transaction and any arbitration services that might be needed.
It could be the buyer or the seller (based on agreement) but in most cases, the buyer adds that fee to the amount paid and we deduct our fee before transferring the appropriate balance to the seller.
Since we do NOT handle real estate transactions (our focus is commercial transactions) most escrow transactions can be completed in a very short time (a day or two typically). Obviously more complex transactions will take longer to set up the agreement and manage the escrow process.
The buyer pays into OUR designated escrow account. We only release the funds to the seller AFTER we confirm that the buyer has received the goods (or after an agreed time has elapsed).
Remember, funds remain in escrow until the seller meets the terms of the agreement.
In the event of a dispute, we provide HIGHLY TRAINED arbitrators to intervene and resolve the dispute, FREE OF CHARGE.
There is no need to go to court if our services are utilized in a timely & appropriate manner.
Click here to contact us and give us a quick overview of your transaction. The initial consultation is free.
No. We do not provide escrow services for real estate transactions. We focus on e-commerce & retail, agricultural & natural resource, and industrial transactions.