- Escrow Service
What are the steps to use Escrow service?
- Step 1: Buyer and Seller Agree to Terms
- Either the Buyer or Seller signs in and creates a transaction. The initiating party confirms the information entered, and agrees to the escrow instructions. The other party is notified by e-mail or fax, to sign in and agree to the terms of the transaction provided by the initiating party. After both parties have agreed to the terms, the Buyer will be asked to submit payment to premierdirectory.org
- Step 2: Buyer Pays to premierdirectory.org Escrow
- The Buyer submits their payment to premierdirectory.org Escrow by wire transfer. After payment is secured into a trust account, the Seller is notified by premierdirectory.org Escrow to ship the merchandise to the Buyer
- Step 3: Seller Ships Merchandise to Buyer
- The Seller ships the merchandise to the Buyer using an approved delivery service. After the Seller has shipped the merchandise, they must notify premierdirectory.org Escrow and provide the tracking information. The inspection period will not begin until we confirm delivery of the merchandise.
- Step 4: Buyer Inspects the Merchandise
- When the Buyer receives the merchandise, the inspection period begins and the Buyer must inspect within this period and decide whether to accept the goods.
- Step 5: Buyer Inspects the Merchandise
- premierdirectory.org releasesthe fund to seller if buyer approves the parts, or returnsthe fund back to buyer if buyer rejects the parts.
- What is the cost of Escrow?
- There is a minimum charge $55 by premierdirectory.org Escrow fee is $0.65% of invoice amount.For sellers who are not paying the $75 monthly fee, we add $20 service charge on each escrow.