Escrow Benefits for Buyers
As a buyer of machinery or industrial equipment, one of the biggest risks is misrepresentation. Escrow services mitigate that risk almost entirely. As a buyer, your money is held with a neutral third-party and are only released as specific checkpoints in your agreement (such as inspections and receiving title) are reached. PaySAFE® holds transaction funds until machinery is delivered, installed and verified.
Escrow Benefits for Sellers
From the seller’s perspective, the greatest risk is that the buyer doesn’t pay the agreed amount. Escrow services remove that issue from the equation by verifying the funds and documentation in full. When the conditions of the transaction are met, the funds held in escrow are released. Sellers won’t have to worry about checks getting lost in the mail or notice of insufficient funds days or weeks after the equipment has been delivered.