What is Escrow?
This is for everyone out there who has little or no idea what escrow is.
Usually there are 2 parties 🔰Buyer and the Seller.
Escrow is a third party or a third person involved in the deal.
🔱 Now let’s see how ESCROW works 🔱
🦠 Seller posts a product or service for sale that attracts a buyer.
🦠 Deal is finalised and both the parties agree for escrow.
🦠 Buyer first pays the money in full to the ESCROW.
🦠 Escrow then instructs the seller to deliver the promised product or service.
🦠 Once that is delivered and the buyer is satisfied, the buyer then informs the same to the escrow.
🦠 Escrow now releases the money to the seller
‼️ 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.
Thanks for read my post...
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