Anybody who is uncertain of the other party, or feel unsafe or insecure when transacting. Buyers should use Escrow Vine whenever they are asked to pay a deposit or full payment upfront before receiving goods or services from a supplier. Suppliers or Sellers should use Escrow Vine to be sure the Buyer has the funds for the trade. Small Business owners can use Escrow Vine as the funds will be kept safe until the 'seller' delivers per the agreement.
Escrow is a legal arrangement in which cash is deposited for safekeeping with a neutral third party pending the completion of contractual obligations. Once the obligations have been met, the escrow agent (Escrow Vine ) will transfer the assets or cash to the other party as prescribed in the contract.
Escrow Vine is a trusted third party in a trade between yourself and another party. We provide a platform to enable you to buy and sell goods and services, safely and securely. We safeguard the funds and all documentation that has been uploaded onto the site until both parties are satisfied that the terms of the transaction have been met and only then do we release the funds to the Seller. We keep the funds secure until the correct goods or service have been delivered from the Seller to the Buyer. It's that simple!
This is very important. You will notice that when you log into Escrow Vine , the website is encrypted under the security protocol https://. We have secured our site with CoModo Secure. If you do not see https://, log out immediately and log in again. All accounts are protected as they require a password and username.
There is no minimum or maximum amount when using Escrow Vine .
You will receive an email to advise when funds have been received and cleared by Escrow Vine. Please do not send the goods or supply services before we have confirmed that the funds have been received and cleared. Escrow Vine will send all parties a signed letter of confirmation stating that the funds are in escrow and are earmarked for the Seller. This letter may be distributed to other transactions stakeholders whoever so requires it.
We get paid when the trade is complete. The fee will be deducted when the request to release the funds is received and processed. In special cases, for example where the deal is cancelled or the Seller withdraws or reneges, the escrow fee will be deducted from the Buyer's funds when the funds are returned to him. It may seem unfair to the Buyer, but we will have incurred costs and we have to defray these costs. Look at it this way...the Buyer has not lost all his money!
Insurance is usually covered by the Seller of the goods. Escrow Vine is not liable for damaged goods.