How Our Escrow Service Works
(a) When a buyer & seller, auction offerer & service provider or service hirer agree on a deal they both contact us individually with the subject of the message as “We have a deal”. In the body of the message, they begin by mentioning each other’s name, phone numbers and email address and then they let us know if it is a buy/sell transaction, auction/bid transaction or provide/hire service. Also specify if you are the seller/buyer, auction offerer/bidder or freelance service service hirer/provider. You briefly state what the deal is all about and how much is involved in the deal. After getting the message, we send our escrow service fees to the buyer/bidder or service hirer and if s/he agrees to pay our escrow service fee we then send our phone number and bank details to him/her to pay the amount of the involved in the transaction plus our escrow service fee to our account details.N.B: Our escrow service fees, account details and phone number are sent to only the buyer/bidder service hirer (for privacy and security reasons).
(b)After making payment, s/he text us his/her name, location, total amount paid ( transaction amount plus escrow service fee), location, purpose of payment (e.g buy/sell transaction between A and B), teller number , if it is bank deposit (for our confirmation/ verification purpose).
(c) After we confirm the payment we then inform the seller/auction offerer or service provider to deliver the product/service based on both parties agreed delivery means and terms.
(d) The seller/auction offerer or service provider informs us after the product/service delivery. We then await the buyer/bidder or service hirer to confirm to us by message of the receipt of the product/service and indicating their satisfaction/dissatisfaction within 24 hours as well as asking us to either release or not release the money to the seller/auction offerer or freelancer.
N.B:
If after 24 hours we didn’t get a feedback from the buyer/bidder or service hirer we assume that s/he has received the product/service and that s/he is satisfied with the product/service and so we have no option other than to send the money of the transaction to the seller/auction offerer or service provider after deducting our escrow service fees.
Also if the buyer/bidder or service hirer is not satisfied with the product/service s/he is expected to inform us and the seller/auction offer or service provider either asking for a replacement or the return of the product/service to the seller/auction offerer or service provider. If the seller/auction offerer or service provider agrees, s/he returns the product or perfect the service at the buyer's/bidder's/service hirers own cost (if there is any cost involved).
If the seller/auction offerer or service provider couldn't replace the product or perfect the service it is advisable for the buyer/bidder or service hirer to make sure that the product/service is intact the way it was sent or rendered to him/her before sending it back to the seller/auction offerer or service provider. If any dispute arises in the cause of replacement/repeat or perfection of service, both parties are expected to inform us and we set up at most 72 hours as an arbitration period to hear from both parties to enable them come to a compromise or cancel the deal. If no compromise is reached after the arbitration period , both parties can then decide to cancel the transaction by informing us (e.g "cancel deal between A and B") to enable us send back the money to the buyer/bidder or service hirer ( who sends us his/her account details ) on or before 48 hours after deducting our escrow service fees. If it happens to be a weekend we therefore send the money to the buyer/bidder or service hirer on Monday the following week.
N.B:
Our escrow service is not restricted to users of just this platform. Buyers, sellers, auction offerers, etc from different websites similar to ours who are interested in our escrow service can also use our escrow service by following steps (a)-(d) but informing us by contacting us here with the subject as “deal from another website”.
