 An escrow is a safe and easy
cross-border financial instrument. It protects the supplier against
non-payment by the buyer and equally protects the buyer against
loosing money through non-performance of the supplier. The escrow
arrangement ensures that obligations between parties are met with and
transactions are operated in terms of the underlying agreement.
Using CaribbeanMart.com's Escrow
Payment Service can help keep buyers and sellers safe from fraud. When
you use our Escrow payment service, we collect the money from the
buyer and hold it until the buyer and seller agree that the terms of
the sale have been met. Once both parties are satisfied, We sends the
payment to the seller.
The escrow process
- Buyer and Seller
Agree to Terms
After registering at CaribbeanMart.com Escrow
home page, both parties agree to terms of the transaction, which
includes a description of the merchandise, sale price, number of days for
the Buyer's inspection, and any shipping information.
- Buyer Pays
CaribbeanMart.com's Escrow
The Buyer submits an available payment option. CaribbeanMart.com's Escrow
verifies the payment. Processing time varies by payment method.
- Seller Ships
Merchandise
Upon payment verification, the Seller is authorized to ship merchandise and
submit tracking information to CaribbeanMart.com's Escrow. Our Escrow
payment service dept verifies that the Buyer receives the shipment.
- Buyer Accepts the
Merchandise
The Buyer may have a set number of days for an inspection (as agreed with
Seller) and the option to accept or reject the merchandise.
- CaribbeanMart.com's Escrow
Pays the Seller
Escrow Payment Service pays the Seller by the method selected by the Seller.
The transaction is complete.
Use caution when using escrow service
- Don't click links in any emails that claim
to be from CaribbeanMat.com's Escrow Payment Service,
because they could be fraudulent. Instead, type
www.CaribbeanMart.com into the address bar of your web
browser and proceed from there.
.
- If you're a seller, be cautious about
buyers claiming to have paid for an item through an escrow
service. Establish trufhfulness of this claim before
agreeing to offer service or ship out goods to buyers.
.
- There are fees to use escrow.
Buyers and sellers should agree before the close of a
transaction which party will pay those fees.
.
- CaribbeanMart.com does NOT have or use
escrow agents.
.
- CaribbeanMart.com does NOT accept
payment through Western Union or MoneyGram.
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