This regulation was first introduced and implemented in the transport sector for the sale of products with undetermined status by the Transport Company, International Express Swift Shippers on the 12/04/2016 under the International commercial or business transactions Law. It is specifically designed to protect both Buyer-Seller parties from different locations) who enter into Domestic/Foreign commercial sale transaction agreements.
Our Escrow Services
An escrow is an independent, neutral intermediary that manages the exchange of money for real property. It primarily is a contractual arrangement in which a third party (also known as Escrow agent) receives and disburses money or documents for the primary transacting parties (Buyer-Seller), with the disbursement dependent on conditions agreed to by the transacting parties.
Escrows are very useful in the case of a transaction where a large amount money is involved and a certain number of obligations need to be fulfilled before a payment is released like in the case of selling a property where the buyer might want confirmation of the quality of purchased item before making a full payment, and the seller doesn’t want to take the massive risk of losing his property without any assurance that he or she will receive payment. While traditional escrow service is quite difficult and must be obtained through banks and lawyers, Express Swift Shippers provides escrow services at affordable rates.
While the payment is 'In Escrow' the transaction can be safely carried out without risk of losing money or merchandise due to fraud. This eliminates all legal jargon and allows for secure transactions and confident buyers and sellers.
How does Escrow Work?
1) Buyer and seller agree to terms
2) Buyer submits payment to Express Swift Shippers
3) Seller delivers goods to Express Swift Shippers for shipment
4 ) Buyer Approves Goods or Services
5) Express Swift Shippers Release payment to seller
Express Swift Shippers reduces the risk of fraud by acting as a trusted third-party that collects, holds and only disburses funds when both Buyers and Sellers are satisfied.
Buyer and Seller agree to terms
- Either the Buyer or Seller begins a transaction. After registering at Express Swift Shippers all parties agree to the terms of the transaction by written and signed agreement. ESS Escrow Department provides agreement on Escrow Terms.
Both parties agree to terms by means of electronic signatures.
Buyer pays Express Swift Shippers
- The Buyer submits a payment by approved payment method to our secure Escrow Account, Express Swift Shippers verifies the payment, the Seller is notified that funds have been secured 'In Escrow'.
Seller ships merchandise to Buyer
- Upon payment verification, Express Swift Shippers collects merchandise from the seller, ships it to the Buyer and submits tracking information. Express Swift Shippers ensures that the Buyer receives the merchandise.
Buyer accepts merchandise
- The Buyer has a set number of days to inspect the merchandise and the option to accept or reject it. The Buyer accepts the merchandise.
Express Swift Shippers pays the Seller
- Express Swift Shippers releases funds to the Seller from the Escrow Account.
Transaction is complete - safely and securely!
Validity & Finalisation of Escrow
The escrow service is valid for as long as the transacting parties have agreed to be under the escrow agreement.
Express Swift Shippers follows through until all of the instructions in the transaction have been followed and conditions met. The escrow holder, while maintaining the privacy of the consumer, must safeguard the funds and documents while they are in the possession of the escrow holder. When all conditions of the escrow transaction have been met and the parties agree, the escrow holder will disburse funds and record the documents conveying the title.
Knowing at every step
Every time you log into your tracking page using the tracking number that will be issued to you by Express Swift Shippers, our status updates will let you know exactly where you are in the transaction process and if there is action required by you.
Having access to this step-by-step timeline means, whether you're a buyer or a seller, you'll never get stuck wondering what to do next or where you are in the transaction.
When you make an Escrow transaction using Express Swift Shippers, your funds are held in secured, non interest bearing trust Escrow Accounts until the transaction is completed. This ensures that your transaction is protected against chargebacks, fraud or wrongly described goods.
Personal service behind every transaction
Our licensed and regulated services are also backed by our experienced and knowledgeable escrow officers. Our friendly escrow professionals are available to assist you personally with any need that may arise.
Advantages of Using ESS Escrow Services
As one of the leading providers of escrow services online, Express Swift Shippers provides a host of advantages for people who choose to transact with it. Whether it is digital goods, vehicles, antiques, jewel