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ESCROW PAYMENTS

Begmetobuyit.com provides users with escrow payment option to help projects get completed smoothly. Buyers can set aside a specific amount of money into an escrow account on Begmetobuyit.com, for a specific Seller. Both buyer/seller can then view the payment in the escrow account, but only the Buyer can complete/send the payment, from the escrow account to the Seller. The buyer is the only person (other than Begmetobuyit.com staff) who can cancel this escrow payment.

If the project gets completed, the Buyer can transfer the money from the escrow account to the Seller account instantly. If the project is cancelled amicably, the buyer can cancel the escrow payment and the money will return to the Buyer's account. If there are any disputes over a project, Begmetobuyit.com staff must be contacted before any money can be moved from the escrow account.

Begmetobuyit.com encourages it's users to send and receive money with the escrow system, because it's another great way to make sure the both buyer and seller are safely protected agianst fraud.

To manage your escrow payments, login to your account. The escrow menu is underneath the project list.

 

ESCROW PAYMENTS EXAMPLE:

Buyers with username (Big Company) choose Seller with username (Soft-House), where Soft-House bid for $1,000,- .Before Soft-House accepts to work or selle to Big Company's project, Soft-House ask Big Company to pay him with Escrow payments System. After Big Company agrees and Soft-House agrees, Soft-House can begin their work and Big Company can do an Escrow Payments for $1,000,- in Begmetobuyit.com escrow account. Begmetobuyit.com is like a 3rd party who holds the payment in escrow until the seller completes the sale and both agree to release the $1,000 to Soft-House.

At this time , Big Company can't cancel the Escrow Payment. Big Company just can release the payment to Soft-House when sale is complete. If project is camcelled, the $1,000 is released back into Big Company begmetobuyit.com caccount.

After Soft-House finishes their work for Big Company, then Big Company can release the payment from Escrow Payment to the Soft-House seller account. And Begmetobuyit.com wil pay the seller.

 

Contact us if you have any questions about Escrow Payment.