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Escrow payment

Manuela
Manuela Leonhard
Asked on October 25, 2020
What does an escrow payment mean?
in New to Export Portal Germany Germany

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  • Saiful Haque
    Saiful Haque
    Saiful Haque
    Answered on May 10, 2022
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    An escrow payment means that in a transaction between the buyer, seller, and shipper, the seller and shipper get their payment after the order is complete.

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  • Tam Megat
    Tam Megat
    Tam Megat
    Answered on September 26, 2021
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    Escrow is an arrangement used in trade. What it does is hold the money from the buyer until he receives and checks the sellers' goods, only after accepting the goods does the seller receive their money.

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  • Ozan Uslu
    Ozan Uslu
    Ozan Uslu
    Answered on March 08, 2021
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    Export Portal acts as a neutral third party to keep the money until the transaction is complete.

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  • Bernice Orji
    Bernice Orji
    Bernice Orji
    Answered on December 19, 2020
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    It means that you as a buyer pay the money after assigning the shipper. Export Portal keeps the money in an account and when you receive the products you have ordered, the seller receives the money.

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  • Susmita Mishra
    Susmita Mishra
    Susmita Mishra
    Answered on November 23, 2020
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    Escrow is defined as an impartial third party in a financial transaction between two parties that holds a valuable amount of money until the transaction is complete. Here, Export Portal serves as a mediator between the seller and buyer mostly, which takes payment in escrow until the transaction is completed. At the end, if both parties are satisfied with the result, the money goes to the seller.

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