Updated at 2022-05-04
• How does online Escrow work?
Online escrow is a middle man that protects Buyers and Sellers in a transaction.
Escrow bot holds the funds in trust while goods and/or services are delivered from Seller to the Buyer. Escrow bot only releases the funds once the Buyer has received and accepted the goods and/or services.
• Where does Escrow chat and conversation take place.
Chat take place inside Escrow Chatbot after payment has been made by the buyer for the escrow not before, any other conversation before payment by buyer can be made elsewhere between buyer and seller
• How long does the Escrow process take?
- Create Escrow: Buyers or sellers can start the creation of escrow and fill the necessary information to proceed.
- Buyer’s Payment Method: Buyers may pay for their transactions with the three major cryptocurrencies BTC ETH LTC.
- Delivery time: Delivery from Seller to Buyer depends on the delivery method, and whether Buyer and Seller are transacting login, digital goods, physical goods, or services. Escrow Bot requires all trackable and tangible merchandise be sent via a shipping method that allows online tracking and insurance.
- Inspection Period: Escrow cannot be cancelled until buyer completes inspection, which is between 1 – 5 days after receiving the services. Login and digital goods are not eligible for long time inspection.
- Disbursement Method: Sellers can receive funds via Bitcoin only, the same applies to buyer in the case of refund. payment can take 1-2 hours or less depending on the network.
If your transaction takes longer than expected, file a dispute or contact our customer support department via email at [email protected] or Telegram support. They can provide additional information or guidance as to the cause of any delay.
• How does Escrow Bot protect me?
Escrow Bot holds funds while goods move and services are completed.
Escrow Bot ensures Sellers are paid when they deliver goods or complete agreed upon services, ensuring Buyers receive a refund if goods are not delivered or services rendered. Escrow Bot also vets Buyers and Sellers to ensure fraudulent users are banned.
How Buyers are protected:
- The Seller isn’t paid until the Buyer inspects and accepts the merchandise or services.
- Full refunds can be issued if there is a problem with the login, goods or services.
- Escrow Bot verifies delivery of trackable merchandise to the Buyer via online trackable shipping data the Seller provides to the Buyer and the Escrow Bot Support.
How Sellers are protected:
- Sellers receive their funds once they deliver the goods or services, the Buyer accepts the goods or services.
- The Seller ship the merchandise and services once Escrow Bot confirms funds have been approved and secured from the Buyer.
• How do buyer and seller cancel transaction?
• Prior to the payment by Buyer, the Buyer or Seller can cancel the transaction by clicking the “Cancel” button on the Escrow Bot screen.
• After payment by buyer is verified and secured, both party can not cancel ongoing Escrow, if both party agree for Escrow cancellation, buyer or seller can click on the dispute button to contact support for cancellation.
• After funds are secured, the cancellation of a transaction can only be done by Escrow Bot Support after buyer and seller agrees to Escrow cancellation.
• If I have any questions about the product, do I contact Escrow Bot?
We highly recommend all Buyers reach out directly to their Sellers to find out more about the products and/or services being exchanged in their transactions. It is critical for both parties to agree upon the precise description of that being sold or rendered. If there are any questions about any element of the transaction, this should be clarified at the commencement of any transaction.
The product should be clearly defined in the “Description” section of the transaction, and both the Buyer and Seller must agree on all aspects of the transaction, including the “Description” section at the inception of a transaction.
Additionally, once the Buyer receives the products and/or services, the Inspection Period becomes critical to ensure the products and/or services are exactly those listed in the “Description” or agreement. If the product and/or service is not what was agreed upon at the inception of the transaction, the Buyer has the opportunity to return or reject the products and/or services before the Inspection Period which is 1-5 days after receive expires. login and digital goods are not eligible for long inspection period
• When are funds released to the Seller?
Escrow Bot releases funds to the Seller when the Buyer receives login, products and/or services or after the Inspection Period has expired. A Buyer can confirm Escrow by clicking on the “Confirm Escrow” button in Escrow Bot .
• How do I change transaction details?
Changes can be made on the “Transaction Detail Screen” before creating invoice for payment
Changes cannot be made after buyer make payment for escrow.
• How much fee does Escrow Bot charge for Escrow Bot services?
Escrow Bot charges commission fee $7.55 for transaction $20 – $150 and commission fee 5% for transaction $151 – Above
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