Trust Escrows Nigeria: Best Escrow Payment Service Company
Trust Escrows Nigeria (TEN), once adjudged the best escrow payment service company in Nigeria, is an escrow service provider.
Currently, Trust Escrows Nigeria (TEN) also promotes the adoption of escrow services offered by reliable escrow companies for payment of goods and services within and outside of Nigeria. This is with the hope of reducing scam associated with fake buyer, sellers, freelancers and service providers.
What is Escrow?
Escrow simply stands for a form of transaction that involves the use of third parties or middleman in order to get the transaction to completion. Escrow help to add additional security or guarantee to transactions.
What is Escrow Payment?
Escrow payment is such kind of payment in a transaction, in which a buyer does not send payment directly to the seller.
Instead, the buyer sends the payment to a trusted independent company (called escrow service company) where the payment will be held until such a time when the seller (or service provider) has delivered the goods or service to the buyer in good condition.
When the buyer has received the intended product or service, the escrow company goes ahead to release the withheld payment to the seller.
What is Escrow Service?
Escrow service, just like escrow payment above, is such kind of payment service in a transaction, in which a buyer does not send payment directly to the seller.
Instead, the buyer sends the payment to a trusted independent company (called escrow service company) where the payment will be held until such a time when the seller (or service provider) has delivered the goods or service to the buyer in good condition.
When the buyer has received the intended product or service, the escrow company goes ahead to release the withheld payment to the seller.