How Escrow Works
Escrow is a contractual arrangement in which a third party receives and disburses money for the primary transacting parties, most generally, used with plentiful terms that conduct the rightful actions that follow.
The disbursement is dependent on conditions agreed to by the transacting parties.
We pride ourselves in providing security for our customers. This is why we have aligned ourselves with the Wilton Group who has provided us with an Escrow solution.
The process is simple, both our customers and our suppliers onboard with the Escrow via the portal on Wilton Group website, all parties provide full KYC into the portal. It only has to be completed once, and can be used as many times as we require.
The Customer and Supplier agree to terms
Either the Customer or Supplier begins a transaction. After registering with our escrow provider, Wilton Group, all parties agree to the terms of the transaction.
Customer pays funds into escrow
The Customer submits a payment by approved payment method to our secure Escrow Account, Wilton Group then verifies the payment, the Supplier is then notified that funds have been secured 'In Escrow'.
Supplier ships merchandise to Customer
Upon payment verification, the Supplier is authorised to send the merchandise and submit tracking information. We will then verify that the Customer receives the merchandise.
Buyer accepts merchandise and funds are released
The Customer now inspects the merchandise and has the option to accept or reject it. To proceed, the Customer accepts the merchandise and the funds from escrow are released to the Supplier.
The transaction is now complete,
safely and securely!
Wilton has a highly skilled team who are specialised in trust services, with a strong UK and Common Law influence and significant professional and academic experience gained in the UK and abroad. As a result, through its network of trust companies in the UK and the Isle of Man, Wilton provides trustee services, which cover a full spectrum of complex solutions.
Wilton's knowledgeable experts provide specialist corporate & legal services and extensive business administration support to their clients. Not only do their clients receive professional advice, but their business administration team can implement the advice, creating an end to end solution for their clients.
Escrow Onboarding Process
How do I onboard with the escrow service?
The process is simple, both our customers and our suppliers onboard with the escrow via the portal on Wilton Group website, all parties provide full KYC (Know Your Customer) into the portal. It only has to be completed once, and it can then be used as many times as needed.