Escrow is a service of PAA CAPITAL that allows a buyer and seller to protect a transaction by placing the money in the hands of a neutral third party until a specified set of conditions are met. Sellers note in their contract/agreement if they’re willing to accept escrow. The funds for the underlying transaction remain in the buyers account, being blocked for the duration, until the seller has met all agreed terms and conditions. Upon approval and confirmation from both sides, the blockage shall be lifted and the transfer on behalf of the seller completed.
This way it saves time, money, International commissions on Letters of Credit, amendments, discrepancies on negotiating documents, worrying of the requirements of certain jurisdictions, compliance issue for goods and payments….and all is happening almost real-time between authenticated and verified members.
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