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An escrow is a financial arrangement where a third party holds payment funds for two parties in a transaction. It enhances security by releasing the funds only when all agreement terms are met.
This is especially useful for large transactions, such as when a buyer wants assurance of work quality before making full payment. It protects both parties: buyers are secure that their payment is safe, and sellers are assured they won’t perform extensive work without payment.
With funds ‘In Escrow,’ transactions can proceed without fraud risk, simplifying the process and boosting confidence for both buyers and sellers.
Friman Transport, Inc reduces the risk of fraud by acting as a trusted third-party that collects, holds and only disburses funds when both Buyers and Sellers are satisfied.
Either the Buyer or Seller begins a transaction with Friman Transport, Inc.
The Buyer submits a payment by an approved payment method to our secure account, Friman Transport, Inc verifies the payment, the Seller is notified that funds have been secured ‘In Escrow’.
Upon payment verification, Friman Transport sends the merchandise and submits tracking information.
The Buyer has a set number of days to inspect the merchandise and the option to accept or reject it. The Buyer accepts the merchandise.
When you make a transaction using Friman Transport, your funds are held in a secured, non-interest bearing trust account until the transaction is completed. This ensures that your transaction is protected against chargebacks, fraud or wrongly described goods.
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