EscrowIt.com will inform the seller that the buyer's payment has been secured in a trust account. Once this is done the seller is required to begin the shipment process. Before Escrow-It releases payment to the seller, we will verify with the buyer that the collectable meets all criteria agreed upon in the terms and conditions of the contract. Once it's established with the buyer that all terms are met, the funds are released to the seller. If terms are not met, the buyer has the ability to reject the transaction. In this case the collectable will be returned to the seller and funds returned to the buyer.
It is important to purchase insurance for the shipment of the collectable. If the product is damaged during shipment without insurance, it is the responsibility of the individual who is in charge of shipping the product. The seller would be responsible for damage occurring on the initial shipment, and if the buyer rejects the collectable as it did not meet the terms and conditions, the buyer will be held responsible for damage that occurs while shipping the collectable back to the seller. If this should occur, Escrow-It will continue to protect the funds until the issue is completely resolved.
It is imperative to purchase insurance on shipments and many buyers and sellers will not proceed forward with a transaction if insurance is not purchased on the shipment of collectables.