Escrow.com

IFRS 3 Escrow Agreement On Acquisition – Annual Reporting

Escrow.com is an online escrow payment service, it has its headquarters in San Francisco, California. We’re registered in California, licensed as an escrow service, and authorized with the Better Business Bureau.

Escrow.com was established by Fidelity National Financial in 1999, we have securely dealt with transactions worth more than $4.5 billion.

In 2015, Freelancer.com bought Escrow.com, and the company has continued to grow internationally, opening offices in Sydney, Buenos Aires, and Manila.

Definition

An escrow is a financial and legal agreement designed to protect Buyers and Sellers in a transaction. For a fee, an independent third party holds payment till everyone fulfills their duties in the transaction.

With an escrow payment, the Seller will only receive the cash when the Buyer has received and accepted the products and/or services that are part of the transaction. However, the Seller knows they will receive payment because Escrow.com is protecting the money on their behalf.

When to Use an Escrow Service

People use escrow services for online high-value transactions when they don’t know each other. We protect Buyers, Sellers, and Brokers equally, thereby doing away with any hazard of conducting transactions with unknown parties.

No matter where you’re selling or buying goods and services online, whether or not an auction site, an online marketplace, or a B2B e-commerce site, an escrow service will guarantee your safety.

“Buy or sell anything online safely, securely, and confidentially.”

Escrow.com is a regulated and audited service that you can have confidence to guard you. By treating both parties involved in the transaction equally, Escrow.com makes buying and selling on-line a whole lot safer.

What can you buy or sell with Escrow.com?

Escrow.com can assist you safely buy or sell a range of goods and services online. From digital merchandise to a variety of high-value merchandise, Escrow.com provides valuable peace of mind when you’re transacting with unknown parties.

Our customers use Escrow.com to sell a wide range of items, including IPv4s, artwork, personal protective equipment (PPE), luxurious goods, and various other common merchandise.

How does Escrow.com work?

Escrow.com reduces the danger of fraud by acting as a trusted third-party that collects, holds, and solely disburses funds when both the Buyer and Seller are satisfied.

Buyer and seller agree to terms. Either the Buyer or Seller initiates a transaction. After registering at Escrow.com, all parties agree to the terms of the transaction.

Buyer pays Escrow.com. The Buyer submits a payment by authorised payment method to our secure Escrow Account, Escrow.com verifies the payment, then the Seller is notified that cash have been secured “In Escrow”.

Seller ships merchandise to Buyer. Upon payment verification, the Seller is authorized to ship the merchandise and submit tracking information. Escrow.com verifies that the Buyer receives the merchandise.

Buyer accepts merchandise. The Buyer has a set number of days to inspect the merchandise with the choice to accept or reject it. If not approved, the Buyer will raise a dispute and enter the dispute resolution process.

Escrow.com pays the Seller. If the merchandise is accepted, Escrow.com releases cash to the Seller from the Escrow Account.

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