This is for everyone out there who has little or no idea “what escrow is”.
Usually, there are 2 parties, the Buyer and the Seller in the deal.
Escrow is a third party or a third person involved in the deal.
Note-Only make trusted groups & channel’s admin Escrow so that ur deal is completed successfully & safely
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Now let’s see how ESCROW works
Seller posts a product or service for sale that attracts a buyer.
The deal is finalized and both parties agree for doing the deal through escrow.
The buyer first pays the full deal amount to the ESCROW(Holding the Deal amount till the buyer confirms getting the product).
Escrow then instructs the seller to deliver the promised product or service.
Once a product or service is delivered and the buyer is satisfied with the product that the seller promised him.
The buyer then informs the same & Confirms the Escrow to release the deal amount to the seller.
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So here, if the buyer 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.
After getting the product successfully, if the buyer denies confirming escrow for payment release or tries to rip the seller.
In that case after seeing Successful Delivery proof Escrow released the payment to the seller.