Today’s business environment is challenging and trading with new or distant customers can be fraught with insecurities and uncertainties. As an exporter, you’ll want to know that you will be paid on time and in full; and as an importer, you want to know you’ll receive the goods on time and to the required quality.
Escrow services offer peace of mind to both transacting parties by safeguarding funds in an escrow account until the pre-agreed conditions of the escrow contract are met. An escrow agreement assures the seller that the buyer has the ability to pay for the goods, and they assure the buyer that they will only have to pay for the goods once they are received in the condition described by the seller.