at the Discounted Fee for Barnstormers Users
Click on Escrow.com to Initiate a Transaction
at the Discounted Fee for Barnstormers Users
When Buyers and Sellers do not know each other, they need a third-party they can trust to reduce the potential risk of fraud and deception. Barnstormers, Inc. encourages you to use Escrow.com as the "third party" to your transaction. Escrow.com is a licensed escrow service company, regulated by governmental agencies, that acts as a trusted third party by collecting, holding and disbursing funds according to Buyer and Seller instructions.
Escrow.com provides protection for both Buyer and Seller. Buyers receive and inspect the merchandise before the Seller is paid. Sellers receive their money if the Buyer accepts the merchandise.
Furthermore, Escrow.com's minimal fees are discounted even more for Barnstormers' users if you initiate the escrow service via links on the Barnstormers website.
1. Buyer and Seller Agree to Terms
Both parties agree to terms of the transaction, which includes a description of the merchandise, sale price, number of days for the Buyer's inspection, and any shipping information.
Either the Buyer or the Seller may initiate the escrow service.
The initiating party defines the terms of the transaction and provides information about the merchandise. This information includes:
E-mail address of the other party
Length of inspection period
Party responsible for paying the escrow fee
Delivery options
Shipping costs
The initiating party confirms the information entered, and agrees to the escrow instructions. The other party is notified by e-mail, to sign in and agree to the terms of the transaction provided by the initiating party.
After both parties have agreed to the terms, the Buyer will be asked to submit payment to Escrow.com.
2. Buyer Pays the Escrow Service Company
The Buyer submits a payment to Escrow.com - selecting check, money order, wire transfer, or credit card online. Processing time varies by payment method. When payment is received, it will be verified and secured into a non-interest bearing trust account. After payment is secured, the Seller is notified by Escrow.com to ship the merchandise to the Buyer.
3. Seller Ships Merchandise
Upon payment verification, the Seller is authorized by Escrow.com to ship the merchandise to the Buyer using an approved delivery service. The Seller submits tracking information. Escrow.com verifies that the Buyer receives the shipment.
The Seller must initially pay for the shipment of the merchandise. If the Buyer is responsible for paying the shipping costs, the Seller will be reimbursed when the transaction is complete.
After the Seller has shipped the merchandise, he must sign in to Escrow.com and provide the tracking information. If no shipping was required, this step is not necessary.
Both parties can sign in to Escrow.com and use the tracking information to follow the shipment.
The inspection period will not begin until Escrow.com has confirmed delivery of the merchandise
4a. Buyer Accepts the Merchandise
The Buyer has a set number of days for an inspection and the option to accept or reject the merchandise. When the Buyer accepts the merchandise or the inspection period expires (at which point, the Buyer automatically accepts), the disbursement of payment will begin. Payment is sent to the Seller with escrow fees and shipping costs deducted, if applicable.
4b. Buyer Rejects the Merchandise
If and when the Buyer clicks on the reject button during the inspection period, Escrow.com will e-mail the Seller that the Buyer has rejected the merchandise.
The Buyer has 10 days to ship the merchandise to the Seller's address after he rejects the merchandise. The Buyer is responsible for paying the escrow fee, return shipping costs, and insurance costs upon rejection. The same method of shipping must be used for return shipment that was used to deliver the merchandise.
After the Buyer has shipped the merchandise, he must sign in to Escrow.com and enter the shipping company and tracking information. Escrow.com will e-mail the Seller indicating that the merchandise has been shipped. The e-mail will include all shipping information to allow both parties to track the return shipment.
Upon delivery of the return shipment, the Seller must accept or reject the returned merchandise within 10 days, or the inspection period will automatically expire.
The Seller Accepts the Returned Merchandise:
If the Seller clicks the accept button during the return inspection period, or fails to accept or reject during the return inspection period, the Seller will have accepted the returned merchandise.
If the Buyer agreed to pay the Shipping Fee:
On return, Escrow.com will reimburse the Buyer the Purchase Amount less escrow and original shipping fees. Escrow.com will pay the original shipping fee to the Seller. The Buyer is responsible for return shipping fees.
If the Seller agreed to pay the Shipping Fee:
Escrow.com will pay the purchase amount less the escrow fee. Upon completion of the disbursements, escrow is closed, and the transaction is over.
The Seller Rejects the Returned Merchandise
If the Seller rejects the merchandise during the return inspection period of 10 days, Escrow.com will e-mail the Buyer indicating the Seller's decision to reject the returned merchandise.
A dispute can happen in one of two situations: 1) the returned merchandise is not in the condition it was when it was originally shipped, and 2) the Buyer and Seller have a disagreement over who should pay charges related to insuring shipment.
Escrow.com will hold the funds in escrow until the dispute is resolved. The money will be paid to all the parties, escrow is closed, and the transaction is over.
If the Buyer accepts the merchandise, Escrow.com pays the Seller by check or wire transfer. The transaction is complete.
The escrow company acts as a secure third party to protect the Buyer and Seller.
How Buyers are protected:
The escrow service tracks the shipped merchandise and verifies it was delivered. The Seller is not paid until the Buyer accepts the merchandise, or the inspection period expires.
How Sellers are protected:
Escrow.com confirms when the Buyer receives the merchandise. The Seller is authorized to ship only after the Escrow.com verifies good funds.
Click on Escrow.com to Initiate a Transaction
at the Discounted Fee for Barnstormers Users