How does Escrow.coim protect the SELLER?

[FredAZ]

Ok - see the "ad" in the classified for Escrow.com.

Seems like a payment middle-man with limited value.

How does this protect against all the claims of "wrong merch" or "I didn't like it so I returned it, only I really returned a brick" type of scams?

So they hold payment - who holds the goods?

 

[oledawg]

In general a legal escrow should be a disinterested 3rd party holds the cash, once the product is received buy the buyer then the money is released to the seller. Other stipulation could be placed upon the agreement as needed by either party and agreed upon by the other party. Just my novice legal knowledge. 

 

[hawkeye69]

As I understand it, the buyer pays the agreed price to escrow.com and they hold it. Then the seller then ships the goods, knowing that the money has been paid. If the buyer receives the goods and agrees that it's what they ordered, only then are the funds are released to the seller.

 

[Lewis]

Sadly, still no protection for the seller.

Back when E-Bay was new, our local post office would allow you to inspect a COD (cash on delivery) package in the office. This is in my opinion the only way to protect both the buyer and seller. If the seller sends a rock, it is not paid for (protecting the buyer), and since it is a cash transaction there are no refunds (protecting the seller). I LOVED this model. Of course, to do this today would be much tougher due to the huge number of packages. The only real risk was that the seller could lose shipping costs if the item was refused. I would love to see some of the stores that have gone under because of the Amazon type model, take on this role. If you can't beat them join them. You could have your packages sent to a "Distribution Center" where the package could be held awaiting pickup. There would need to be a reasonable fee for this and I for one would happily support something that improves e-commerce and eliminates porch piracy at the same time.



2Cents.

 

[Kevin23]

As I understand it, the buyer pays the agreed price to escrow.com and they hold it. Then the seller then ships the goods, knowing that the money has been paid. If the buyer receives the goods and agrees that it's what they ordered, only then are the funds are released to the seller.

So a guy can buy say a scope, and then after it is delivered say "there wasnt a scope in the box" and they get their money returned? Seems awfully one sided to the buyer. 

 

[FredAZ]

As I understand it, the buyer pays the agreed price to escrow.com and they hold it. Then the seller then ships the goods, knowing that the money has been paid. If the buyer receives the goods and agrees that it's what they ordered, only then are the funds are released to the seller.

So a guy can buy say a scope, and then after it is delivered say "there wasnt a scope in the box" and they get their money returned? Seems awfully one sided to the buyer.

EXACTLY -- VERY ONE SIDED.

Say you want to sell something that is somewhat rare with limited audience so local sale is unlikely such as a very special airgun - how would you sell it to a remote buyer and feel protected? PB's use FFL's which extract a modest fee. If only this service existed for other transactions.