The main motto of international escrow service is to ensure that sellers get on-time payment for their items and buyers receive what they have ordered from sellers. This service plays a role of mediator that collects, holds and distribute the money as per the seller and buyer interest thereby reducing the risk of scam or fraud. It is normally used for products or items purchased on source code, domain names, auction sites etc. This service is suitable for small to medium enterprises and is very beneficial for exporters. This service can be used by exporters to collect payment of small value shipment in the case when the buyer does not want to make advance payment.
Also, the buyers and sellers that have started new business can use this service for their first-time transactions. This escrow payment is a safer option than payment via credit card. It acts as a reliable intermediary that helps both sellers and buyers to build a trust on each other and gives protection to both parties.
Protection to Seller
International Escrow services protect sellers by reducing their financial risk. In this service, the buyer has to deposit the total amount of order placed with escrow before the shipping of the items by the seller. Thus, seller feels secure that buyer has already paid for the items and now he can ship the items stress-free.
Protection to Buyer
Buyers also get protection from these services. This service tracks and verifies whether the item has been delivered to the buyer. The seller is not paid until the buyer acknowledges the receipt of items.
So, in this way both buyer and seller get protection from these services. If you a proud business man and are also looking for escrow services, you don’t need to worry about it. The market is flooded with several law firms that are promising to provide best international escrow services. It is advisable that you should thoroughly examine the websites and read all their terms and conditions carefully before making a decision. Hope this article will help you. Good Luck.