The word escrow means "to keep in trust". An escrow service keeps payment in trust until a product or service has been delivered. An escrow service is tasked with protecting the interests of both buyer and seller.
Envisionit E-Escrow is Africa's foremost online escrow service. We make it our business to protect our client's interests. Whether you are a corporate running a multi-million Rand IT project or an individual selling a bicycle, E-Escrow ensures payment on delivery.
Gone are the days when a buyer is required to pay a deposit when purchasing a product or appointing a service provider … Buyers can now inspect the product or service purchased, ensuring their satisfaction, before payment is made. The buyer's money is kept safe in an E-Escrow account, earmarked for a specific transaction. If the goods bought don’t match the advertisement or the service not completed to the buyer’s satisfaction, the seller must return the goods or the service provider make good on the service agreed. Should the buyer wish to cancel the transaction he/ she needs to return the purchase undamaged, for a refund.
The seller can proceed with the sale or service assured that the funds are available for payment and in escrow bank account. Sellers and service providers never have to chase up buyers for payment anymore. Satisfied buyers can instruct the immediate release of payment. Unhappy buyers can return the product, undamaged, for a refund. If a buyer does not act within 48 hours of delivery the money is automatically released to the seller.
Part of the Envisionit Group of Companies, Envisionit E-Escrow (Pty) Ltd was founded in South Africa to facilitate and secure online and real world transactions. Envisionit E-Escrow takes the risks out of buying and selling. Our software has been designed by industry experts to offer secure, simple escrow solutions. Parties to a transaction, contract Envisionit E-Escrow as a trusted third party to mitigate the financial risks associated with day to day purchase and sale transactions. Transactions with us are simple, safe and secure. We ensure that buyers get what they paid for while sellers and service providers get paid timeously.
The parties agree to buy or sell a product or service. The terms and conditions of the transaction/ service are captured in the escrow agreement. Once all parties have accepted the agreement we are ready to move to the secure step.
Envisionit E-Escrow secures the transaction for the seller by receiving full payment from the buyer and then verifying the authenticity of the funds. The buyer is protected by keeping the money in trust until the terms of the agreement with the seller have been met.
With payment secured by Envisionit E-Escrow the seller can deliver the product or service with peace of mind.
Once the buyer accepts that the goods or service provided have been received or completed to his/ her satisfaction, the buyer instructs Envisionit E-Escrow to release payment. Remedies exist for either party in the event of a dispute.
You're guaranteed to receive the service or goods before the funds are released to the seller.
Envisionit E-Escrow will confirm the funds are guaranteed and available for transaction before you part with your goods or service.
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