Has anyone used escrow in their business?

[Good-Person]

Have not seen escrow service offering companies in my area here. I am beginning to think in that direction . if I could have access to enough funds, I can establish one because it provide a middle ground for both the worker and the employer.

Well, there are many companies that collect advance payments so that they could make sure that they are not being scammed. If escrow is not available, then they collect advance payments.

 

[Yohanna]

Well, there are many companies that collect advance payments so that they could make sure that they are not being scammed. If escrow is not available, then they collect advance payments.

Collecting an advance payment is not the permanent solution because both the employer and worker should trust themselves but in a bid where the trust isn't there, a middle man should be available to provide such.

 

[Good-Person]

Collecting an advance payment is not the permanent solution because both the employer and worker should trust themselves but in a bid where the trust isn't there, a middle man should be available to provide such.

But still collecting advance payment on a reliable platform actually works like escrow. The management of the freelancing platform could collect advance payment and release full payments after the project is completed.

 

[Sotherefore]

I've never used escrow before nor been in position that escrow is required to carry out a transaction. I know this is likely to happen in digital transaction in which both the buyers and the sellers are not in position to meet face-to-face.

 

[Smiles20]

If a customer is asking that you should use an escrow before they are going to sell something to you then it means that you are not doing something right in your brand identity.

 

[greenie]

I also never hear this is true before as in some cases we are new like I didn't ever listen this type of name specially during running business or keeping business running out so maybe there is a specific reason of screw which people are using but right now I didn't hear and not even used but I am sure that who has used they will also come in there and they will make everything clear in their comments.

 

[Shigobad20201]

Well, there are many companies that collect advance payments so that they could make sure that they are not being scammed. If escrow is not available, then they collect advance payments.

Its normal to collect an advance in payment just to be sure that they at not dealing with business that will later be a scam to them , that's why they collect advance payment if escrow is not available .