Many escrows are not going to want to give out their personal details in order to facilitate the transaction.
A good escrow is going to work out details such as what happens if the items are lost or damaged in transit, what happens if items are seized by customs and what happens if the seller takes too long to ship the goods. The use of insurance while shipping is a best practice, and I will not personally accept escrow for anything I am selling if insurance is not going to be used.
Another point to work out when acting as escrow is to confirm that any customs forms are being filled out honestly and if they are not, and items get seized, who is going to bear the loss.
In the event of a dispute, the escrow should first attempt to get both parties to work out an agreement as to who gets how much of the money in escrow. In the event that he is not able to mediate a regulation that both parties can agree to then he should take his time to weigh all the facts of the situation to come to a fair resolution, even if all parties don't agree and he should not rush to make this decision and give both parties plenty of time to present all evidence available.
Topic: How Escrow works .. in this case ? (Read 606 times)
Escrow keeps the money from the buyers and keeps the items from the sellers, check the items as claimed! Then send the items to the buyers and wait for the confirmation from buyers then send the money to sellers! Then this escrow is perfectly done!
Oh I see , so the Escrow gets the items too , I thought he only gets the bitcoins however it still dosen't make sense , imagine that escrow sent the item to the buyer and as you said "wait for the confirmation from the buyers" , what if the buyer never receive the items for one reason or another like idk .. package got stolen or something like that . who would be responsible buyer still can claim that he didn't receive anything . (It may true , it may be wrong)
You can do it either way. Ebay does it the way you mentioned in the op and it is much simpler and quicker, but it is open to abuse my one of the parties trying to scam. Sending the item and money to escrow is time consuming and more expensive but if you trust the escrow then everybody should be happy.
Escrow keeps the money from the buyers and keeps the items from the sellers, check the items as claimed! Then send the items to the buyers and wait for the confirmation from buyers then send the money to sellers! Then this escrow is perfectly done!
Oh I see , so the Escrow gets the items too , I thought he only gets the bitcoins however it still dosen't make sense , imagine that escrow sent the item to the buyer and as you said "wait for the confirmation from the buyers" , what if the buyer never receive the items for one reason or another like idk .. package got stolen or something like that . who would be responsible buyer still can claim that he didn't receive anything . (It may true , it may be wrong)
Packages are sent all over the world and it very rarely happens that they get lost and which is why if the items are precious, the courier companies ask you to pay for insurance, so if something happens to the package while on it's way, the insurance will cover the item's price. But if the courier companies inform to the sender (escrow) that the product was delivered in right condition, and the buyer claims to have not received the product in good condition, or that the he didn't received the right product then it's a dispute and escrow will make a decision after doing the investigation.
But I understand your concern it could turn nasty if something like this were to happen, which is why I think some of the escrows don't deal with physical products.
Pretty good answer , that's all I needed to know . Well I asked this question because I think it dosen't work like the other countries on my country , Not sure if you know Neteller & Payoneer MasterCards but for me those was the first online things I purchase online , they always gets lost on the mail and I never got them till the day I paid for DHL I got them in couple of days to my front door . so I had to ask to make sure
I guess I will keep staying away from Physical stuff transaction for now You're correct, A good courier company is vital if you're sending/receiving the product from the farthest corners of the world. The postal services of different countries are different and they are not reliable at all, I myself ordered some stuff from someone from Amazon and the guy sent it from his local postal service and it got lost in between and never reached me, I claimed that and received my money because the sender did not even provide a tracking number.
You don't have to stay away from it, just make sure that the seller is reliable and have had many previous successful trades but there is always a slight risk when ordering stuff, a sender can send damaged product or wrong product and it also happens that sometimes buyers take advantage and claim that they didn't receive the product they ordered or that it was broken, and these type of scams are common with Ebay and Amazon.
Escrow keeps the money from the buyers and keeps the items from the sellers, check the items as claimed! Then send the items to the buyers and wait for the confirmation from buyers then send the money to sellers! Then this escrow is perfectly done!
Oh I see , so the Escrow gets the items too , I thought he only gets the bitcoins however it still dosen't make sense , imagine that escrow sent the item to the buyer and as you said "wait for the confirmation from the buyers" , what if the buyer never receive the items for one reason or another like idk .. package got stolen or something like that . who would be responsible buyer still can claim that he didn't receive anything . (It may true , it may be wrong)
Packages are sent all over the world and it very rarely happens that they get lost and which is why if the items are precious, the courier companies ask you to pay for insurance, so if something happens to the package while on it's way, the insurance will cover the item's price. But if the courier companies inform to the sender (escrow) that the product was delivered in right condition, and the buyer claims to have not received the product in good condition, or that the he didn't received the right product then it's a dispute and escrow will make a decision after doing the investigation.
But I understand your concern it could turn nasty if something like this were to happen, which is why I think some of the escrows don't deal with physical products.
Pretty good answer , that's all I needed to know . Well I asked this question because I think it dosen't work like the other countries on my country , Not sure if you know Neteller & Payoneer MasterCards but for me those was the first online things I purchase online , they always gets lost on the mail and I never got them till the day I paid for DHL I got them in couple of days to my front door . so I had to ask to make sure
I guess I will keep staying away from Physical stuff transaction for now Escrow better to use it for holding currency or altcoin
Escrow keeps the money from the buyers and keeps the items from the sellers, check the items as claimed! Then send the items to the buyers and wait for the confirmation from buyers then send the money to sellers! Then this escrow is perfectly done!
Oh I see , so the Escrow gets the items too , I thought he only gets the bitcoins however it still dosen't make sense , imagine that escrow sent the item to the buyer and as you said "wait for the confirmation from the buyers" , what if the buyer never receive the items for one reason or another like idk .. package got stolen or something like that . who would be responsible buyer still can claim that he didn't receive anything . (It may true , it may be wrong)
Packages are sent all over the world and it very rarely happens that they get lost and which is why if the items are precious, the courier companies ask you to pay for insurance, so if something happens to the package while on it's way, the insurance will cover the item's price. But if the courier companies inform to the sender (escrow) that the product was delivered in right condition, and the buyer claims to have not received the product in good condition, or that the he didn't received the right product then it's a dispute and escrow will make a decision after doing the investigation.
But I understand your concern it could turn nasty if something like this were to happen, which is why I think some of the escrows don't deal with physical products.
Pretty good answer , that's all I needed to know . Well I asked this question because I think it dosen't work like the other countries on my country , Not sure if you know Neteller & Payoneer MasterCards but for me those was the first online things I purchase online , they always gets lost on the mail and I never got them till the day I paid for DHL I got them in couple of days to my front door . so I had to ask to make sure
I guess I will keep staying away from Physical stuff transaction for now Escrow keeps the money from the buyers and keeps the items from the sellers, check the items as claimed! Then send the items to the buyers and wait for the confirmation from buyers then send the money to sellers! Then this escrow is perfectly done!
Oh I see , so the Escrow gets the items too , I thought he only gets the bitcoins however it still dosen't make sense , imagine that escrow sent the item to the buyer and as you said "wait for the confirmation from the buyers" , what if the buyer never receive the items for one reason or another like idk .. package got stolen or something like that . who would be responsible buyer still can claim that he didn't receive anything . (It may true , it may be wrong)
Packages are sent all over the world and it very rarely happens that they get lost and which is why if the items are precious, the courier companies ask you to pay for insurance, so if something happens to the package while on it's way, the insurance will cover the item's price. But if the courier companies inform to the sender (escrow) that the product was delivered in right condition, and the buyer claims to have not received the product in good condition, or that the he didn't received the right product then it's a dispute and escrow will make a decision after doing the investigation.
But I understand your concern it could turn nasty if something like this were to happen, which is why I think some of the escrows don't deal with physical products.
Escrow keeps the money from the buyers and keeps the items from the sellers, check the items as claimed! Then send the items to the buyers and wait for the confirmation from buyers then send the money to sellers! Then this escrow is perfectly done!
Oh I see , so the Escrow gets the items too , I thought he only gets the bitcoins however it still dosen't make sense , imagine that escrow sent the item to the buyer and as you said "wait for the confirmation from the buyers" , what if the buyer never receive the items for one reason or another like idk .. package got stolen or something like that . who would be responsible buyer still can claim that he didn't receive anything . (It may true , it may be wrong)
Escrow keeps the money from the buyers and keeps the items from the sellers, check the items as claimed! Then send the items to the buyers and wait for the confirmation from buyers then send the money to sellers! Then this escrow is perfectly done!
I may be missing a step here but I don't think I'am , so in this case what would the escrow and the both parties do exactly ?
In case of sellings goods (physical goods) ... Basically the Escrow keeps the money of the buyer and the seller send to the buyer the items ? is that correct ? If yes what if the buyer never receive the item that the seller sent ? or what if the seller never sent the item and he claimed that he sent it or ... what if the seller sent it and the buyer received it however the buy decided to claim that he didn't ?
I know it's kinda a long story but I don't find solution for those scenario's that could happen , even with tracking number it says that the item is on the country however accidents happen ... maybe he will never receive it or whatever . would like to know how an Escrow would act on this particular situations .
In case of sellings goods (physical goods) ... Basically the Escrow keeps the money of the buyer and the seller send to the buyer the items ? is that correct ? If yes what if the buyer never receive the item that the seller sent ? or what if the seller never sent the item and he claimed that he sent it or ... what if the seller sent it and the buyer received it however the buy decided to claim that he didn't ?
I know it's kinda a long story but I don't find solution for those scenario's that could happen , even with tracking number it says that the item is on the country however accidents happen ... maybe he will never receive it or whatever . would like to know how an Escrow would act on this particular situations .
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