For Internet auctions and other Internet transactions, where there is sometimes an element of fraud, a buyer would not have to make a direct money transfer to the seller. Escrow companies will ensure that such Internet sales transactions are completed; and only after the arrival of the goods will the buyer be paid.
In addition to reputable escrow providers, there are also a number of fraudulent escrow services, which have been known to pay the money into their own pocket. Often these fraudsters work on Internet auctions and offer attractive bargains with the use of dubious escrow services. It is in effect the seller's own escrow page, if the payment is sent the buyer does not receive the goods or his money back.
How can you protect yourself from fraudulent escrow providers? The occurrence of fraudulent escrow sites can be either a bad quality site or an exact copy of Internet sites from reputable escrow providers. Nevertheless, there are indications of which companies are trusted escrow suppliers who use the best source code escrow transactions.
Make sure that you have chosen an escrow provider with an existing physical address and telephone number. Do not use the escrow company if you call and there is only a voicemail response with unsatisfactory information. Send an e-mail enquiry to the escrow service provider to see whether you receive a satisfactory response.
Avoid escrow pages that end in .Org, escrow services are for-profit companies, the extension .Org is reserved for non-profit organizations. Escrow providers have a clearly defined bank account to which payments will be paid. Escrows asking for go-between or similar transfer systems are most likely fraudulent in nature.
Some fraudulent escrow sites often give a real registration number which a reputable escrow provider owns. If the same registration number belongs to a different escrow site it is a fraudulent offer; the number is easily checked with a quick search.
Reliable companies utilize a complex source code, escrowtransactions are secured with highly efficient and secure software, escrow is an excellent way to insure the safety of your online transaction, and only a little caution is required when choosing the correct escrow company.
Darrell F writing about software escrow and the popular source code escrow.
Article Source: http://EzineArticles.com/?expert=Darrell_Freeman
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