What is Escrow?

An escrow is a bond, deed, or financial agreement where a third party holds and regulates payment of funds for the buyer and seller. The money is held in trust and is only released to the seller (service provider) when all the terms of agreement/transaction has been met.
Escrow helps in making transactions more secure because the payment is kept in an escrow account. This ensures that the seller does not have access to the money until they have fulfilled the terms of the agreement, which will be overseen by the escrow company.

Escrow is suitable for a number of businesses and transactions which includes:
A transaction where large amount money is involved and a certain number of obligations need to be fulfilled before a payment is released. For example, the purchase of a land or house, where the person selling the land is supposed to provide a receipt, certificate of occupancy, and some other relevant documents. Making such a purchase through an escrow company makes the transaction more secure.

Purchase of a vehicle: By buying a vehicle through escrow, it reduces the risk of buying a vehicle that is not in a very good condition because the buyer would have specified in the terms of agreement with the seller that the car must be in a very good condition before the seller can receive the money.

Online shopping and transactions: When you shop from a website or a social media page that sell goods and different product on the internet, there is always a high risk of not getting exactly what you ordered for. Shopping online from a website or social media page that is escrow insured eliminates this risk and ensures that you get exactly what you shopped for on the internet.

Benefits of Escrow:
Escrow ensures that all buyers and sellers are protected equally and their disputes dealt with the utmost concern.
Escrow verifies the funds sent by the buyer and keeps them in safe custody for the seller.
The seller ships the merchandise only after the buyer has made complete payment to the buyer`s escrow account.
Escrow helps you track your merchandise to make sure that it is delivered in time according to the conditions mentioned in the agreement.
The seller does not receive the money until the buyer accepts the merchandise and has the opportunity to fully inspect it.

AtaraPay is an online escrow service promoted by TrustPay Technologies Limited. We are the first company to create online escrow supported by technology to allow user accept or reject items purchased at point of delivery.

Our solution protects buyers’ funds but goes the extra step to specifically protect merchants from a logistics perspective. In essence, they guarantee yourest of mind and you can be assured that you will get your money back if your merchant fails to deliver on his promises.

To learn more about escrow and the benefits of escrow, visit [url] https://www.atarapay.com/