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Escrow Service |
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| How BazarA2z works |
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Select a product, decide quantity - BazarA2z automatically calculates total price based on order quantity (larger the quantity, lesser is the rate) and shipping cost to your door-step. Add selected products to Cart and place Order.
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Pay to BazarA2z through PayPal, Credit Card or Bank Transfer. Your payment remains with BazarA2z until
ordered products are delivered to your door-step and you approve it. Seller gets paid on your authorization.
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Seller confirms order and ships ordered products through a reliable international carrier such
as Fedex, EMS etc. You receive tracking information for continuous monitoring
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International carrier delivers ordered products at shipping address specified by you
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Receive ordered products and check its quality and quantity. If you are satisfied with it, please
log-in to MyBazarA2z and click 'Approve' link for concerned order
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On your approval, the order gets 'closed' and we release seller's payment. Please leave your
feedback and rate the seller
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What Is Escrow ?
- Escrow service reduces potential risk of fraud in a buy-sell transaction by acting as
payment guarantor
- Provided by a third party (other than buyer and seller) who is trusted by
both buyer and seller, escrow collects, holds and disburses funds according
to terms and conditions mutually agreed by buyer and seller
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Why Use Escrow ?
- Escrow is a low-cost solution for lower value transactions
where buyer and seller are unknown to each other, possibly
transacting for the first time.
- Letter of Credit is also a safe option, but its too expensive
for low-value transaction
- Buyer and seller do not need escrow if they know and trust
each other sufficiently well
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How Does it Work in BazarA2z ?
- Buyer orders a product and pays to BazarA2z
- The money remains with BazarA2z during order processing and shipment
- BazarA2z does not claim to be an Escrow agent. It simly holds a payment
for few days during order processing. The money so held, either goes to
seller (on successful sale) or gets refunded to buyer. At no point of
time, BazarA2z charges any kind of fee for this escrow-like service.
- Seller receives order and confirms his/her acceptance
- In case seller refuses to confirm - order gets cancelled and Buyer
receives full refund from BazarA2z. Transaction charges, if any, is absorbed
by BazarA2z.
- Seller confirms and ships ordered products through a well-known shipping
company (e.g. EMS, Fedex etc.).
- Seller informs tracking number of the package so that buyer can track it online
- Buyer receives ordered product and approves it
- BazarA2z pays to seller
- In case buyer does not approve the product, he/she returns it to seller
and gets full refund
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Why Escrow is a Safe Option for Both Buyer and Seller
- Escrow offers safety to both buyer and seller
- Buyer is safe as he/she gets to inspect and approve ordered products
before payment
- Seller is safe as buyer has already made 100% advance. There is no
delay - seller receives payment as soon as buyer approves ordered products
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