The first step is for the buyer and seller to agree to the terms of the sale. You will upload your Purchase Agreement to our project management system so we also have access to it.
Review & Begin
Escrow.Trade will review your Purchase Agreement to ensure it's something we can facilitate prior to any money changing hands. Assuming it is, both buyer and seller will sign our Escrow Agreement, as well.
2. Buyer Pays Escrow.Trade
Once we are all in agreement, the buyer will wire the funds to us for safe keeping during the assets transfer.
Every transaction gets it's own sub-account inside our Escrow Bank Account. Both the buyer and seller will be able to verify the funds are safe inside your deal's sub-account at any time by requesting a ledger balance.
3. Seller Transfers Assets
Once funds have been secured by Escrow.Trade, the seller will transfer all assets included in the Purchase Agreement, in accordance with the terms of the agreement.
Seller then notifies Escrow.Trade that the assets have been transferred and the inspection period begins.
4. Buyer Inspects & Approves Assets
After the assets have been transferred by the seller, the buyer has an "inspection period" (usually 3 days) to verify that everything agreed to has been transferred properly.
At any point during the inspection period, the buyer can "Approve" the assets. This notifies Escrow.Trade that the assets have been transferred. This approval happens automatically after the agreed inspection period if the buyer doesn't manually approve sooner.
5. Escrow.Trade Releases Funds to Seller
Once the inspection period has elapsed, or if the buyer approves the assets prior to that, Escrow.Trade will release the funds to the seller and intermediaries.