Mildafort Escrow Service

Mildafort Global Freights, acts as a neutral third party that ensures both the buyer and seller fulfill their obligations. The buyer deposits funds into an Escrow Trust Account, and the seller ships the goods or provides the services. Once the buyer is satisfied with the received goods or services, the escrow service releases the funds to the seller. This process enhances trade safety by protecting both parties: buyers are assured their payment is secure until they receive what they paid for, and sellers are guaranteed payment upon meeting the agreed terms.​

How Our Escrow Service Works

1. Agreement and Deposit:

• The buyer and seller agree on the terms of the transaction, including the price, delivery method, and inspection period.

• Mildafort Escrow Service provides an Escrow Contract that must be signed by both the buyer and the seller before funds are paid into the Mildafort Escrow Trust Account.

• Additionally, the buyer and seller may have a separate Sales and Purchase Agreement that specifies their contractual terms, if they deem it necessary.

2. Verification and Documentation:

• The Mildafort Escrow Service verifies the receipt of funds and notifies both the buyer and the seller that the funds are secure and ready.

• The seller prepares the goods or services according to the agreed terms.

3. Shipment and Inspection:

• The seller ships the goods or provides the services to the buyer as per the agreement.

• The buyer receives the goods or services and has a predefined period to inspect them to ensure they meet the agreed-upon standards.

4. Confirmation and Release of Funds:

• If the buyer is satisfied with the received goods or services, they notify the Mildafort Escrow Service of their approval.

• Upon confirmation from the buyer, the Mildafort Escrow Service releases the funds to the seller.

• In case of any disputes, the Mildafort Escrow Service mediates between the buyer and seller to resolve the issue.

5. Cost of Using Mildafort Escrow Service:

• No Charge When Using Mildafort Global Freight: If the goods or services are provided or shipped via Mildafort Global Freight, neither the buyer nor the seller will be charged for the escrow service. This is because the company is already benefiting from the deal through the transport costs.

• Fee for Third-Party Services: If the goods or services are to be transported or provided by a third party, Mildafort Escrow Service will charge a fee for offering the escrow service. This fee varies in relation to the escrow amount or the traded amount and considers other risk factors such as severity and frequency. Rates could be as low as 0.3% of the contract value.

• Who Pays for the Escrow Fee: The responsibility for paying the escrow fee shall be mutually agreed upon by the buyer and seller. Either party can cover the entire cost of the escrow fee exclusively, or they can split the bill as agreed between them. The escrow fee must be paid in full after both parties have signed the Escrow Policy, before Mildafort Escrow Service can consider itself fully engaged in the terms of the policy

6. Beefits of Using Mildafort Escrow Services:

• Trade Safety: The service ensures that both parties fulfill their obligations, reducing the risk of fraud or non-payment.

• Buyer’s Protection: The buyer’s funds are securely held by the escrow service until the goods or services are received and approved, providing peace of mind.

• Seller’s Protection: The seller is assured of receiving payment once the buyer confirms receipt and satisfaction with the goods or services.

• Neutral Mediation: In case of disputes, the escrow service acts as a neutral third party to mediate and resolve conflicts, ensuring a fair outcome for both parties.

• Confidence in Transactions: Using Mildafort Escrow Service builds trust between buyers and sellers, encouraging more successful and smooth transactions.

Benefit to the Buyer

The escrow service protects the buyer by securely holding their funds in an escrow account until they receive and approve the goods or services. This ensures that the buyer’s payment is safe and only released to the seller once the buyer is satisfied with the transaction, minimizing the risk of fraud or receiving substandard products.

With Mildafort Escrow Service! we offer unparalleled security and trust, ensuring both buyers and sellers fulfill their obligations. Buyers can rest easy knowing their funds are safely held until they receive and approve the goods or services, protecting them from fraud and substandard products. Sellers, your payment is guaranteed once the buyer is satisfied, eliminating the risk of non-payment.

Benefit to the Seller

The escrow service protects the seller by ensuring they receive payment only after the buyer has received and approved the goods or services. Once the funds are deposited into the escrow account, the seller is assured that the buyer has the financial capacity to complete the purchase. This eliminates the risk of non-payment or payment delays.