The escrow payment system on Fertstock ensures secure transactions by holding funds in a neutral account until the buyer receives and approves the goods. Here’s how it works for both sellers and buyers:
How Escrow Works for Sellers:
Payment Sent:
The buyer transfers the payment to the Fertstock Escrow account.
Deliver the Goods:
Once the payment is confirmed, Fertstock instructs the seller to deliver the goods according to the agreed-upon terms (EXW, FCA, DAP, DPU, DDP).
Payment Received:
After the buyer receives the goods, they have three to five working days to inspect the quality. Once approved, the payment is released to the seller.
How Escrow Works for Buyers:
Close the Deal:
Negotiate and finalize your fertilizer purchase with sellers on Fertstock.
Transfer Payment:
Deposit the payment for the cargo into the escrow account.
Seller Notified:
Fertstock notifies the seller once the payment is received, prompting them to release or send the goods.
Inspect & Confirm Cargo:
Upon receiving the cargo, you have three to five working days to inspect the quality. If satisfied, the payment is released to the seller.
This system protects both parties, ensuring that buyers receive the goods they expect and sellers get paid only after the transaction is completed successfully.