What is Escrow?


🌀 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.✅

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