An Escrow allows the buyer to select a third-party individual to act as an arbiter in the event of a disputed transaction.
When using Escrow, instead of sending funds directly to the seller, you move the funds into a smart contract where they are held for the duration of the transaction. When you receive your item, you release these funds from the Escrow to the seller and the transaction is complete.
In the unlikely event that you are unhappy with the transaction, i.e. item not received, or damaged. You can contact the arbiter to investigate.
The arbiter will contact the seller and request proof that the advertised goods were shipped.
If the arbiter cannot verify that the seller shipped the goods, they will release the Escrow funds back to the buyer and the transaction is complete. However if the arbiter is satisfied that the goods were shipped properly they will release the funds to the seller.
To use Escrow - tick the 'Secure with Escrow' box when purchasing an item and enter the alias of your chosen Escrow agent.
Note: It is important that you contact the seller before using Escrow so you can agree on which arbiter to use. If you use an arbiter that is not approved by the seller, they may refuse to complete the transaction.