Hello good people of Nairaland. This is introducing the IBL ESCROW SERVICE, an innovation of my company, THE INSPIRED BY LEO GLOBAL SERVICES. I feel honoured to say I have been a big beneficiary of this great online forum. I started IBL PROCUREMENT AND LOGISTICS some years back after carefully understanding the need to create a service that could cater for a set of people (those not in Lagos and have things to pickup and have dispatched to their location), especially during the mini importation boom. The brainchild of the business; thanks to God, the people that employed my service and the continuous flourishing of this great forum, IBL PROCUREMENT AND LOGISTICS has grown and promises to achieve greater heights. At it, I became an employer of labour and groomed young protégés who are doing ok on their own now.
I understand the Nigerian business factor so well, and truth be told, Nigeria is an unfriendly clime to do business. The breadth and width of this country is so enormous that it becomes unthinkable to see people not taking advantage of the vast opportunities around to make meaningful impact on their own lives and those they meet. Trust, as militating factor to anything, is a blind man’s guide anywhere in the world not only in Nigeria. And Nigeria, being known for several online scam activities has further made doing business a problematic of great concern. Nigerians do not trust themselves and has thus, brought a clamp down on most business prospects. That was how IBL PROCUREMENT AND LOGISTICS started see thread here; https://www.nairaland.com/1789589/ibl-procurement-logistics-service-non-lagos . I sought With the service, to bridge the gap of trust between persons not in Lagos and sellers, suppliers, manufacturers, shipping agents based in Lagos. Now, IBL ESCROW is an offshoot of that success story.
EXPLAINING ESCROW SERVICE
Escrow is a legal concept in which a financial instrument or an asset is held by a third party on behalf of two other parties that are in the process of completing a transaction. The funds or assets are held by the escrow agent until it receives the appropriate instructions or until predetermined contractual obligations have been fulfilled. Money, securities, funds, and other assets can all be held in escrow.
When parties are in the process of completing a transaction, there may come a time when it is only interesting to move forward for one party if it knows with absolute certainty that the other party will be able to fulfill its obligations. This is where the use of escrow comes into play.
For example, a company selling goods internationally wants to be certain that it will get paid when the goods reach their destination. Conversely, the buyer wants to pay for the goods only if they arrive in good condition. The buyer can place the funds in escrow with an agent and give irrevocable instructions to disburse them to the seller once the goods arrive. This way, both parties are safe, and the transaction can proceed.
An escrow agreement is a legal document that outlines the terms and conditions between parties involved in an escrow arrangement. An escrow agreement defines the arrangement by which one party deposits an asset with a third person (called an escrow agent), who, in turn, makes a delivery to another party if and when the specified conditions of the contract are met.
BREAKING DOWN 'Escrow Agreement'
An escrow agreement must fully detail the conditions of the escrow arrangement between the parties. It normally includes such information as the identity of the appointed escrow agent, definitions for any expressions pertinent to the agreement, the escrow funds and detailed conditions for the release of these funds, the acceptable use of funds by the escrow agent, the duties and liabilities of the escrow agent, the escrow agent's fees and expenses, and the jurisdiction and venue in the event of a legal action. To allay this is why i will like for all cash transactions be done on this thread for all to see.
Now, this new phase of my business idea is concerting to all, I mean everyone on Nairaland (I hope the mods can see the genuineness in this). I have come up with an ESCROW SERVICE to cater for our transactions as it regards transfer of money or service from buyer to seller, service provider to end receiver and so on. Thus, do you intend to buy something from one part of Nigeria from a seller at the other end, or you want say Mr A at Ibadan to offer you an online service to as Mr B at Benin(eg to design a logo which is readily done at his location), the distance should not be a barrier. The world has grown so ever nearer than it was some ten years ago. Everything can be done in real time now, with ease of comfort. Hence, that i don’t trust Mr A with money to deliver a service should not be hindrance for me, Mr B not to be open to do business with him no matter where he is. Mr A and Mr B can carry out a transaction with Mr C acting as the middle man(Escrow).
WHY SHOULD WE TRUST IBL ESCROW
I have been an active member of this forum for years, built a growing business from this forum and have maintained a good track record over the years. You can search for the name IBL or David-Leo Toyin Alabi for any fraudulent record and you would find none. I think with that, its easy to trust me. I can handle transactions for two buyers; receive funds and credit seller upon delivery confirmation from buyer. IBL ESCROW can be trusted!
IBL ESCROW PROCESS
Below are the modalities to be followed:
1. Buyer and seller agree in or outside this thread and notify IBL (Mcleo007) of the desire to enact a transaction using this thread. Details of transactions (duration and progression) are to be stated. A transaction fee of N1,000 applies which is mutually absorbed by both parties.
2. Buyer goes ahead and makes payment to IBL account and notify both seller and IBL with proof of payment made here (Nairaland is a faceless forum, don’t be scared of your identity made open to all).
3. IBL commissions seller to go ahead and render service escrowed for.
4. Buyer confirms service rendered and notifies IBL to release funds.
5. IBL releases fund to seller, retaining N1,000 transaction fee.
That is the way to a successful business. More secure proceedings would come up with time.
As a logistics outfit, we offer movement of goods and services from Lagos to locations within and outside of the city. Our services can be employed to move goods around and good thing is, we accept cash on delivery at every point. Contact for more details or see our thread; https://www.nairaland.com/1943083/ibl-logistics-pickup-free-warehousing, https://www.nairaland.com/2914327/ibl-logistics-free-warehousing-delivery
We do not vet goods or services, and not liable to ascertain deeds of transactions except the ones that employs our delivery service.
David-Leo Toyin Alabi (MD/CEO The Inspired by Leo Global Services)
42D, Binukonu Shopping Plaza, Ogudu road, Ojota.
07033801718, 08050528342, 08099532265
I want to thank the curator of this thread, Mr Seun Osewa and everyone that has contributed to make this forum what it is today. I look forward to everyone employing this service. I have dreams of seeing it grow big and bigger (to become a job haven for as many people). It can only be so, if the support is shown. To those who have done business with me and still continue to refer my service to more people, i say thank you. Hoping to see you avail of this one too.
Cc: BizBloke, mayorall, mikkyangel, Lionlee216, Clone2020