Significance of using an Escrow service

  1. Escrow is a financial instrument held by a third-party on behalf of two other parties who are completing a transaction. It's like a trust account held by a third-party while all the seller and buyer's obligations are fulfilled.

  2. Domain Escrow service protects the parties involved in the transaction. The time it takes to go from the beginning to the end of the escrow process varies. We use the domain escrow to ensure a safe buying experience.

How domain escrow process works

  1. The Buyer fills form to initiate the escrow transaction and receives an email from escrow service, this email contains a link which takes the Buyer to checkout page to process the transaction further.

  2. Buyer cross-checks the transaction price & domain, proceeds towards making the payment via secure payment gateway, on payment completion the funds are in escrow account, they hold onto the funds till Buyer receives the domain name in question.

  3. notifies the Seller that the payment for the domain has been received, Seller then initiates transfer of the domain name to holding account, subsequently the domain is transferred to the Buyer. guides the Buyer with this transfer process.

  4. After Buyer receives the domain name, as a final step, the funds held in escrow account are transferred to the Seller and the transaction is closed as successful.

  5. If at any moment, Seller fails to transfer the domain name to holding account, the Buyer funds which are held in escrow account are refunded to the Buyer, hence providing safety.