what is escrows? | Bitcointalksearch.org

drngocct

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Quote from: Rodrigo Santos on January 23, 2018, 05:19:58 AM

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.
Escrows are very useful in the case of a transaction where a large amount money is involved and a certain number of obligations need to be fulfilled before a payment is released.

Thanks for the definition and your explanations about Escrow. I have follow the Solaris project for a long time, which has its Escrow partner, but I dont know what it is till the time I find the topic by chance.

SALAUDDIN

newbie

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Quote from: Dudeperfect on January 27, 2018, 01:41:26 PM

Escrow is someone who acts as a middleman appointed by both the parties involved in the trade. He is a person who is trusted by both the parties. He ensures that trade is being conducted in a secure environment and the buyer is receiving the right goods and seller is receiving a right consideration as per the agreement that took place between buyer and seller.

I work as an escrow to contribute to this community and my working style is something like this.

Quote from: Dudeperfect on February 17, 2017, 12:49:10 AM

How Escrow works?

# 1. Buyer or seller requests for this escrow service.
# 2. Escrow confirms the trade details by contacting buyer and seller. [or rejects the request]
# 3. Buyer sends funds to escrow.
# 4. Seller sends the goods to the buyer after escrow's confirmation.
# 5.A Buyer confirms the receipt of goods or service and informs the escrow.
# 6.A Escrow release the funds to the seller.

It is a responsibility of the seller to meet buyer's expectations and buyer's responsibility to ensure the goods or services are as per buyer/seller agreement.

Dear sir, thank for your information, you can give any website link or forum topic link 'Escrow' related?

massivekode

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Quote from: SALAUDDIN on January 23, 2018, 03:49:05 AM

anyone know ''what's 'escrow'? and how work it?? I want to know details 'escrow' please say datailse...

Let's make a small example.

Bob wants to buy a car from Alice. Alice says that the car is 5BTC. Bob doesn't know Alice and neither does Alice know Bob.
Bob is not sure that if he gives Alice 5BTC, she will give the car to him and it is the same with Alice.

Now let's bring Kevin to the picture. Bob trusts Kevin and so does Alice. Let's say Kevin is trustworthy here.

Bob gives 5BTC to Kevin and Alice gives the car to Kevin. Kevin then exchanges the assets to the rightful owners while taking a small fee for being the middle-man.

Kevin is the escrow here. We can say that he is kind of a broker for Alice and Bob.

Good Luck!

MintDice

member

Activity: 238

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Escrow services are a good idea when transacting with an untrusted party. Bit can protect sellers from fraudulent buyers by requiring the Bitcoin be deposited up front. Likewise, buyers are protected if the seller turns out to be a scammer and doesn't deliver the goods. If there's a dispute, the escrow service will act as the arbitrator and determine who should ultimately receive the Bitcoin funds.

Dudeperfect

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Escrow is someone who acts as a middleman appointed by both the parties involved in the trade. He is a person who is trusted by both the parties. He ensures that trade is being conducted in a secure environment and the buyer is receiving the right goods and seller is receiving a right consideration as per the agreement that took place between buyer and seller.

I work as an escrow to contribute to this community and my working style is something like this.

Quote from: Dudeperfect on February 17, 2017, 12:49:10 AM

How Escrow works?

# 1. Buyer or seller requests for this escrow service.
# 2. Escrow confirms the trade details by contacting buyer and seller. [or rejects the request]
# 3. Buyer sends funds to escrow.
# 4. Seller sends the goods to the buyer after escrow's confirmation.
# 5.A Buyer confirms the receipt of goods or service and informs the escrow.
# 6.A Escrow release the funds to the seller.

It is a responsibility of the seller to meet buyer's expectations and buyer's responsibility to ensure the goods or services are as per buyer/seller agreement.

ajmal4758

newbie

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Quote from: Bryan_12 on January 27, 2018, 11:00:22 AM

Escrow accounts are the accounts that lenders establish to collect money "in advance" to cover future expenses when you take out a mortgage, such as property taxes and insurance. Lenders establish these Accounts to make sure property taxes and insurance will be paid on time, as you will be charged with the full payment of your mortgage.

The escrow account benefits the borrowers because it helps them plan and save to pay property taxes and insurance. The fact that the lender charges you each month means you do not have to worry about when your property insurance expires.
You may feel that your lender requires you to pay more money than you think is necessary in the escrow account. But this happens because lenders usually charge two months for taxes and insurance.

There is a regulation law that limits the ability of the lender to collect money from security deposit and if you have a specific complaint you can contact the Department of Housing and Urban Development or the State or federal regulators.

Thanks for your helpfull information, but I want to know how work it escrow? and say to me any Token to echange USD, how to possible it?

Bryan_12

newbie

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Escrow accounts are the accounts that lenders establish to collect money "in advance" to cover future expenses when you take out a mortgage, such as property taxes and insurance. Lenders establish these Accounts to make sure property taxes and insurance will be paid on time, as you will be charged with the full payment of your mortgage.

The escrow account benefits the borrowers because it helps them plan and save to pay property taxes and insurance. The fact that the lender charges you each month means you do not have to worry about when your property insurance expires.
You may feel that your lender requires you to pay more money than you think is necessary in the escrow account. But this happens because lenders usually charge two months for taxes and insurance.

There is a regulation law that limits the ability of the lender to collect money from security deposit and if you have a specific complaint you can contact the Department of Housing and Urban Development or the State or federal regulators.

SALAUDDIN

newbie

Activity: 28

Merit: 5

Quote from: pjhom on January 23, 2018, 04:26:26 AM

It is helpful to use an escrow or third party when doing an exchange. Keeps both parties involved honest.

i'm understand escrow, but so how can i exchange token,Ethereum,Bitcoin to USD dollar? please say details...

Rodrigo Santos

member

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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.
Escrows are very useful in the case of a transaction where a large amount money is involved and a certain number of obligations need to be fulfilled before a payment is released.

chaitanya31

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Activity: 70

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Quote from: SALAUDDIN on January 23, 2018, 03:49:05 AM

anyone know ''what's 'escrow'? and how work it?? I want to know details 'escrow' please say datailse...

In general, escrow is a financial arrangement which can manage and regulates payments between two parties to make a transaction. The core functionality of escrow method is, to focused on the secure transactions. It helps the transactions to be more secured by keeping the payment on a third party escrow account and the amount will be released only after validating the given details. And if the details not meets the agreement provided by the two parties then the amount will not be released from the escrow account. Escrow method encourages the dispute of payment if the buyer is not satisfied with the transaction. An escrow account is useful for the transaction which involves larger amount.

andohyeb

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Escrow is a third party between either a buyer and seller to make the trade successful without one running away with your money. If one ,the buyer receive the item in condition, he notified the escrow and the funds is release to the seller.

pjhom

member

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It is helpful to use an escrow or third party when doing an exchange. Keeps both parties involved honest.

bitcoin_green

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Quote from: SALAUDDIN on January 23, 2018, 03:49:05 AM

anyone know ''what's 'escrow'? and how work it?? I want to know details 'escrow' please say datailse...

Escrow is when money is held in a trusted third party's possession. In traditional money systems this is the only way to ensure a transaction.

SALAUDDIN

newbie

Activity: 28

Merit: 5

anyone know ''what's 'escrow'? and how work it?? I want to know details 'escrow' please say datailse...

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