Some of the key benefits of escrow for small business:
Escrow helps to reduce the risk of a transaction failing. Having a third party hold funds until both parties are satisfied with a transaction. This can be particularly important when using classifieds or other consumer to consumer transactions.
With escrow, the buyer places funds into escrow. The seller will then provide the goods or services as specified. Having received the goods or services, the buyer approves the release of funds to finalize the transaction.
Here are more examples of where escrow can be really helpful:
You wish to buy or sell an expensive item through a classified or online marketplace.
The party making the purchase can secure the funds into EscrowLion Account so that they show commitment to making the purchase and still stay in control of the funds. The party selling the item can then post the item through knowing that their funds in exchange are protected. Once the item has been received and the purchaser is satisfied, the funds can then be released to complete the exchange. This is how both parties are protected throughout the process.
Risk reduction is top of mind in any global transaction. That’s why so many companies turn to EscrowLion for Escrow Services. Our global team of experts will help you develop an escrow transaction structure that will work for you.