GLOBALTRADE Escrow provides buyers the opportunity to inspect their purchase before funds are released to the seller, ensuring secure and fair transactions.
At times escrow transactions may encounter issues such as goods being damaged during shipping or items not matching the description. For this reason, GLOBALTRADE Escrow allows buyers to inspect their purchase before releasing funds to the seller.
The Inspection Period is the agreed timeframe during which the buyer can review the merchandise, domain, or service and decide whether to accept or reject the transaction.
GLOBALTRADE Escrow notifies the seller when to ship or transfer the merchandise, domain, or service. Sellers should keep records of receipts, shipment tracking, and documentation confirming delivery.
The Inspection Period begins when the buyer confirms receipt of the goods or when GLOBALTRADE Escrow verifies delivery.
Inspection periods may range between 1 and 30 calendar days depending on the agreement between buyer and seller.
If the buyer is satisfied, they may accept the goods or services. GLOBALTRADE Escrow will then release the funds to the seller.
If the buyer is not satisfied, they may reject the goods or services and return them to the seller.
When the buyer accepts the merchandise or service, GLOBALTRADE Escrow releases the funds to the seller and the transaction is completed successfully.
If the buyer rejects the transaction, the merchandise must be returned to the seller and payment will be refunded after verification.
The Inspection Period ends when the buyer accepts the goods or services, rejects them, or when the agreed inspection timeframe expires.
If the inspection period expires without buyer action, GLOBALTRADE Escrow may send a final notification allowing an additional 24 hours for the buyer to respond before the transaction is finalized.
This process ensures fairness and transparency while protecting both buyers and sellers.