Escrow is a secure way to handle transactions between buyers and sellers. A neutral third party holds the payment until all terms of the agreement are met, ensuring both parties are protected.
Benefits of Using Escrow Services
Security: Funds are held securely by a trusted third party until the transaction is complete.
Trust: Both buyers and sellers can trust that the transaction will be handled fairly.
Transparency: Clear terms and conditions ensure that both parties know what to expect.
Dispute Resolution: Escrow services often include dispute resolution to handle any issues that arise.
How Escrow Works
Agreement: The buyer and seller agree on the terms of the transaction.
Payment: The buyer submits the payment to the escrow service.
Verification: The seller delivers the goods or services as agreed.
Approval: The buyer verifies that the goods or services meet the agreed terms.
Release: The escrow service releases the payment to the seller.
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