Escrow service in cooperation with Transpact
Most times you buy or sell, payment is made on time and goods and services are received with no problems. But even if it’s not happened to you, we all know of frequent cases where payment is not made or goods or services are not delivered, or are not fit for purpose. And these days, so much of our business is done online where unscrupulous traders do exist, and fraud is a growing problem. This is a concern, and we know that sooner or later it might happen to us.
EMS Market partner with Transpact offering the most cost effective escrow in the industry. Transpact was set up to give you peace of mind about these risks so that when you buy or sell, you can be assured your money is secured, whether a buyer or a seller, and that if a problem does arise it will be sorted out quickly.
No commissions - low flat rate!
Transpact´s flat charge means that your costs are normally limited to €3.49 per party for Euro transactions – that really is it for transactions up to €15,000!
US Dollar transactions are charged at $9.99 per party for transactions up to $2,500, with a fee of $15 subtracted from any payment made (only for USD transactions).
How does it work?
1. Buyer and Seller Agree to Terms of the Transaction
One of the parties to the transaction initiates a EMS Market SafeTrade process. This consists of the agreed price, contact details of the other party, description of the device and any additional terms and condition that were agreed upon during the negotiation stage.
Once submitted, both parties are invited to Transpact.com, to create an account. Additional negotiation on the transaction’s terms and conditions is possible through the Transpact platform.
2. Buyer Secures Transaction Funds at Transpact.com
The EMS Market SafeTrade transaction does not begin until all terms and conditions are accepted and the Buyer has submitted payment to Transpact.com, this is in order to guarantee that the entire agreed upon amount is accounted for, prior to the shipment of the goods.
3. Seller Ships Merchandise
Upon payment verification, the Seller is given an email notification that the funds are secured, thus authorizing him to ship the merchandise according to the agreed terms.
4. Buyer Accepts the Merchandise
The Buyer approves Transpact.com to submit payment to the Seller.
5. The Seller is Paid
Transpact.com pays the Seller by wire transfer. The transaction is complete.