Trade Assurance

In the era where cybercrimes have become a common scenario, it is likely that buyers and sellers may be prone to fraudulent activities. Viwanda Trade Assurance makes sure that all the transactions which take place through are secure, transparent, and sound.

Viwanda Trade Assurance is an Escrow Service that basically involves the process of “ holding the funds  ” for the parties which are a part of a transaction (buyer and seller). Viwanda Escrow then releases the fund only when the transaction is complete to the satisfaction of both the buyer and seller. 

For instance, a buyer ‘A’ places an order and makes the payment for the same. Instead of transferring the amount directly to the seller, Viwanda Escrow shall hold the payment in an escrow account.

As the buyer receives the order and finds it satisfactory in every aspect, then only will the escrow transfer the payment to the seller.

This process becomes essential when the parties are unaware of each other identities and so escrow acts as a third-party platform offering trustworthy services to the supplier and the buyers. therefore allows our buyers to make the payment for the order which is locked until the product is delivered to the buyer. As the buyer receives the product and confirms the order, the payment or fund is transferred to the seller.

Buyer Surety

Viwanda Escrow account acts as a vault which keeps the money for the time period before the buyer verifies receipt and acceptance .

Odoo • A picture with a caption
Once the buyer receives the order, finds it satisfactory and approves it, the amount is transferred to the supplier. 

Key Benefits of Escrow

The basic idea behind implementing escrow services within is to ensure that trust and the security factor is intact amongst the seller and the buyers.

It can turn out to be useful in the following scenarios:

  1. When both the parties involved in a transaction are unknown to each other

  2. The deal between the parties shall stretch for the long term.

  3. The payment amount that is to be exchanged between the parties is big.

  4. Ensures the security of the payments which the buyers make for the purchase.

  5. In case the buyers do not find the product satisfactory, they may raise a refund request for the same.

  6. Sellers will have to ship the products to the buyers and not invest time in verifying the payment.

  7. Less possibility of fraud and scams which might take place while the transaction process.

  8. Most importantly, it maintains the transparency between the parties.

Shop Viwanda Now!

Odoo • Text and Image