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Escrow service

ESCROW SERVICES

BUYERS AND SELLERS

Int’lShippingLine Escrow service

International Shipping Line (Int’lShippingLine) Escrow service reduces the potential risk of fraud by acting as a trusted third party that collects, holds and disburses funds according to Buyer and Seller instructions.

What is Escrow?

An escrow is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in a secure escrow account which is only released when all of the terms of an agreement are met as overseen by the escrow company.

How does Escrow Work?

An Escrow reduces the risk of fraud by acting as a trusted third-party that collects, holds and only disburses funds when both Buyers and Sellers are satisfied.

  • Buyer and Seller agree to terms – Either the Buyer or Seller begins a transaction. All parties agree to the terms of the transaction.

 

  • Buyer pays here – The Buyer submits a payment by approved payment method to our secure Escrow Account, we verify the payment, the Seller is notified that funds have been secured.

 

  • Seller ships merchandise to Buyer – Upon payment verification, the Seller is authorised to send the merchandise and submit tracking information. We verifies that the Buyer receives the merchandise.

 

  • Buyer accepts merchandise – The Buyer has a set number of days to inspect the merchandise and the option to accept or reject it. The Buyer accepts the merchandise.

 

  • We pays the Seller – We then releases the funds to the Seller.

 

Why Should We Pay Online?

With dozens of other payment options available such as checks, drafts, money orders, and electronic bank transfers, one may wonder why so many people use this new method of payment. Indeed, the older payment methods are tried, tested, and a lot more comfortable for some people. However, online payment offers exclusive advantages that other payment options don’t.

When paying online, you can easily use your credit card to process a transaction much faster than the check-and-stamp method. Automated payments also mean that there are no delays or late penalties. Contrary to popular belief, it is much safer to conduct your transaction online as everything is documented, and there are no sensitive details on paper. Online payment eliminates clutter by, in some cases, eliminating the need for paper bills that require filing. It makes organizing and keeping track of payments easier and more convenient. Finally, if using online payments, many banks will provide graphs and information that help you track your spending and keep your budget on task.

There are many types of transactions that can be made online, everything from paying your phone bill to purchasing small gifts for family members. For larger transactions, though, you may want to seek the services of an escrow company. By putting your money into an escrow account, you can protect yourself from fraud.

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