🌀 What is Escrow?
This is for everyone out there who has little or no idea what escrow is.
Usually there are 2 parties 👥Buyer and the Seller.
Escrow is a third party or a third person involved in the deal.👤
✳️ Now let’s see how ESCROW works ❓
❇️ Seller posts a product or service for sale that attracts a buyer.
❇️ Deal is finalised and both the parties agree for escrow.
❇️ Buyer first pays the money in full to the ESCROW.
❇️ Escrow then instructs the seller to deliver the promised product or service.
❇️ Once that is delivered and the buyer is satisfied, the buyer then informs the same to the escrow.
❇️ Escrow now releases the money to the seller
So here, if the Seller sends you a fake product or doesn’t send anything at all, the money is still safe with ESCROW which will be given back to you.✅