Frequently Asked Questions

How is eraiESCROW different from other escrow services?

Our service is unlike any other escrow service in several ways.

WE do the work for our escrow customers. We fill out the contracts. We track the shipments. We are completely and totally involved from the beginning to the end of your transaction offering our Buyers and Sellers the highest available customer service.

eraiESCROW also offers the most competitive pricing for our customers. We will not be beat. If you are quoted a lower price by another service, notify us and we will either match or beat our competitor's price.

What if my customer or supplier refuses to use eraiESCROW?

Obviously, we cannot facilitate an escrow agreement unless both parties are willing to use the eraiESCROW. If your customer / supplier does not want to use eraiESCROW, you should ask them why they are refusing to use the service.

If they simply do not know who eraiESCROW is, we will be happy to provide your customer / supplier with our references. eraiESCROW has successfully completed millions of dollars in transactions over the last several years. We have excellent references and are more than willing to share them with our customers. eraiESCROW can and will provide any potential escrow customer with more than enough information so they should not have any reservations or concerns in relation to the legitimacy or reliability of our service.

If this does not satisfy your potential customer / supplier, ask them if they would be willing to use another escrow service. If they do agree to use another service, you should check with ERAI to see if we have reported this company. This can sometimes be the reason companies shy away from eraiESCROW. We may know something YOU need to know.

We tell our members that if your customer / supplier simply refuses to use any available escrow service, this should be regarded as a "Red Flag". A company who will not consider payment options other than TT (wire transfer in advance) is reason for concern, especially if that supplier is not willing to consider your company's positive trade references, or those of eraiESCROW. We cannot think of one good reason to avoid a platform, such as eraiESCROW, that can provide both the Buyer and the Seller with protection during the transaction.

What if I do not want to rely on a visual inspection?

Unfortunately, a visual inspection will not reveal if a component will or will not function. One might assume that if the parts look new, they should function as such. In reality, we all know components that are in perfect physical condition, do in fact, sometimes fail electrically. Buyers and Sellers alike can add another layer of protection to their transaction, if they agree to have the parts tested while funds are held securely in the escrow account. If you are interested in having parts tested when using eraiESCROW, please call us to discuss your options. We can customize your escrow contract in a way that suits both the Buyer and Seller, while ensuring the goods are in good working condition before your funds are released.

Can I send the parts to my customer for inspection?

Often times, a Buyer wants their end user (customer) to inspect the product before funds are released to the Seller. Unfortunately, eraiESCROW cannot allow the Buyer to send parts to a third party without the written consent of the Seller. If the Seller agrees to allow the product to be shipped to a third party, a formal addendum is added to the original eraiESCROW contract, which must be signed by both the Buyer and the Seller before the goods can be released to the third party.

What if the product is damaged in transit?

The Buyer and Seller should, as in all transactions, make the necessary arrangements to insure the shipment prior to contacting eraiESCROW. eraiESCROW is not liable for lost, stolen or damaged shipments. The Buyer and the Seller, need to make insurance arrangements and this information should be clearly stated on the Purchase Order and / or the Proforma Invoice.

Who pays for the shipping charges if the buyer rejects the shipment?

The Seller is responsible for paying the shipping charges on rejected shipments. If the shipment is rejected, the Seller is required to provide eraiESCROW with an RMA number and a valid shipping account number.