You should use escrow unless you know and trust the other party involved in the transaction.
Escrow is a procedure in which a third party holds a buyer's payment in trust until the buyer receives and approves the item from the seller. Escrow reduces the potential risk of fraud by acting as a trusted third party that collects, holds and disburses funds according to Buyer and Seller instructions. Escrow services are provided by banks, brokers or other regulated companies.
ShipX recommends Escrow.com, which is also
recommended by eBay. We have described their product below. Escrow.com is licensed by the Department of Corporations (DOC) in California. With
a few exceptions, Escrow.com handles US Dollar transactions all over the world.
Escrow.com
service fees as low as 0.89% of the purchase price.
Fraudulent sellers or buyers may use non-existent escrow companies, please make sure you use a reputable and reliable company.
How does
Escrow.com work?
Agree to use escrow Either the seller or the buyer can contact the other to propose using escrow. Both must agree to use escrow before the escrow process begins.
Buyer and Seller Agree to Terms After registering at Escrow.com, both parties agree to terms of the transaction, which includes a description of the merchandise, sale price, number of days for the Buyer's inspection, who pays for escrow, and any shipping information. It is customary for the buyer to pay for escrow initiated at ShipX.
Buyer Pays Escrow.com The Buyer submits an available payment option. Escrow.com verifies the payment. Processing time varies by payment method.
Seller Ships Merchandise Upon payment verification, the Seller is authorized to ship merchandise and submit tracking information. Escrow.com verifies that the Buyer receives the shipment.
Buyer Accepts the Merchandise The Buyer has a set number of days for an inspection and the option to accept or reject the merchandise.
Escrow.com Pays the Seller Escrow.com pays the Seller by the method selected by the Seller. The transaction is complete.
