We have over 15 years of experience protecting transactions online.
Online escrow is a five-step process. It protects the Seller by verifying funds and protects the Buyer by allowing inspection of the merchandise before funds are disbursed.
With EscrowLion.com, every step in your transaction is verified with proven tracking and verification procedures. How Buyers are protected: EscrowLion.com tracks and verifies delivery of the shipped merchandise. The Seller isn't paid until the Buyer accepts the merchandise, or the agreed upon inspection period expires. How Sellers are protected: EscrowLion.com verifies delivery of merchandise to the Buyer via the online trackable shipping that the Seller provides to EscrowLion.com. The Seller is notified to ship after EscrowLion.com verifies good funds.
Definitely. You and your transaction are protected every step of the process, thanks to our stringent logging, tracking, and verification procedures.
our credit card information is stored in a highly secure 128-bit encrypted server, making it impossible for anyone to obtain your credit card information. The encrypted credit card information is sent over a secure line to your credit card company's systems.
Yes. Even though there have been widespread reports of Internet fraud in the past few years, the reports attribute most of the fraud to card information stolen the old fashioned way: by telemarketers, from mailboxes, and at places of purchase, such as restaurants and stores. In most cases, credit card information used on websites is seen by fewer eyes than the same information used at your local restaurant, thus fraud occurs less between a legitimate consumer and a merchant.
It depends upon : The inspection period agreed upon by both parties. The Buyer's payment method. Delivery time from Seller to Buyer. Seller's selected disbursement option. Generally, most escrow purchases can take from five to 20 days.
When the Buyer and Seller agree to terms, an Inspection Period between 1-30 days is specified. The Inspection Period is the time the Buyer has to examine the merchandise once received. If the Inspection Period has expired and Escrow.com has confirmed the Buyer received the item, Escrow.com assumes that the Buyer has accepted the merchandise; therefore, the Seller is paid.
Prior to the agreement of terms by both parties, the Buyer or Seller can cancel the transaction by clicking the cancel button on the transaction detail screen. After both parties have confirmed transaction details in the Agreement phase, either party may cancel the transaction, only if EscrowLion.com has not received the Buyer's funds, by sending an email request to support@escrowlion.com. After funds are secured, the cancellation of a transaction can only be done by EscrowLion.com after notifying both parties.
Sign in to EscrowLion.com and click the My Profile link at the top right of the screen. Next, click the Edit button to the right of the information you are attempting to change. After updating the information click the Save Changes button at the bottom of the page. Changes made to the disbursement instructions do not apply to current transactions; you will need to contact EscrowLion.com directly, regarding disbursement amendments, before the transaction closes.
During the agreement of terms, the Buyer and Seller agree as to who will pay for shipping. If the Seller is paying the shipping, the cost does not need to be added to the transaction. If the Buyer is paying the shipping cost, the Seller can add the cost to the transaction. EscrowLion.com will collect the shipping cost along with the purchase price and any portion of the escrow fees due from the Buyer. The Seller will initially pay the shipping company directly, at the time of shipment; the Seller will be reimbursed the shipping cost at the close of the transaction. In this case, the Buyer is responsible for the shipping costs even if they reject the merchandise. If both parties are in agreement, the Buyer can pay the shipping company directly; no shipping cost needs to be added to the transaction. Please note, in the event the merchandise is received by the Buyer and rejected, the Buyer is always responsible to ship the merchandise back to the Seller at the Buyer's cost.
The Inspection Period is the specified amount of time agreed upon by both parties in which the Buyer may examine the merchandise/domain(s) after receipt. The time frame selected for the Buyer can range between 1 to 30 days and must be agreed upon by all parties at the beginning of the transaction. The Inspection Period begins when the Buyer marks the item as received, or EscrowLion.com verifies or receives confirmation that the merchandise/domain(s) or service has been delivered. The Buyer must accept or reject the goods within this period. If the Buyer has rejected and returned the merchandise, the Seller will be provided with a five day inspection period to examine the returned merchandise. Buyers and Sellers should make sure the inspection period provides adequate time for any authentication and/or appraisal process that may be necessary to complete the transaction.
When you agree on the price and delivery method for your escrow transaction using EscrowLion.com, you will also have the option to specify who pays the escrow fee on the escrow details. You can specify in details section if it 'Buyer', 'Seller', or '50% Buyer / 50% Seller'. It all depends on your agreement. We encourage both buyers and sellers to discuss and agree before opening a escrow transaction.
Taxes, customs, and import fees are typically the responsibility of the Seller, but the Seller is free to negotiate any additional fees as part of the purchase price.
When you buy an item at a store with a check or credit card, you are promising that the money is available in your account. The store doesn't receive the money for up to 10 banking days later. Sending a check to EscrowLion.com works exactly the same way. To ensure payment, Escrow.com waits until the money is deposited into our trust account, which is then considered "good funds." This takes longer, but gives Buyers and Sellers an extra level of security.
Your funds remain in our secured escrow non-interest bearing trust account until the transaction concludes.