How does Escrow work – our 5 step guide

Escrow Bank will act as an independent party in an agreement. This means that Escrow Bank holds and regulates the funds of the transaction until the conditions set out in the escrow agreement have been met.

Register User:

Buyer and Seller will register themselves on Escrowvox.

Parties Agree

1. Buyer and seller upload their agreed terms to Escrowvox and Escrowvox reviews the terms to decide whether the terms are acceptable by Escrowvox and that Escrowvox can carry out the transaction smoothly.
2. Escrowvox will draft the tailored agreement for the transaction of funds between the parties.
3. Parties will sign the agreement and upload the document to Escrowvox.

Buyer Deposits Funds Into The Escrowvox Account:

1. The Buyer decides in which country and currency it would like to remit the funds.
2. The Buyer uploads the payment confirmation slip on Escrowvox.
3. The payment is confirmed and reflected on the Buyers Dashboard.

Seller Delivers

The Seller abides by the terms of the agreement and uploads the documents required to release the funds as per the terms of the agreement or Buyer accepts the terms and gives permission to release the payment.

Seller Gets Paid

Escrowvox deducts its charges and transfers/releases the funds to the Sellers Dashboard and the Seller is free to do what they want with the funds and can transfer it to their Seller or transfer it in any bank account of their choosing.