In simple terms, Escrow is when a third party holds funds until the provider of services or Seller, and the Buyer (receiver of the services) reach an agreement and are satisfied with the terms of the deal.
For example, Mr. A sees an the profile of a freelance copywriter online and he contacts him (Mr. D). They both discuss and reach an agreement that D would get paid after submitting 50 copies for Mr. A’s brand. After the agreement, Mr. A initiates a transaction with Vesicash so that he can keep the funds secure in his trust account. After keeping his end of the deal, Mr. D submits the copies to his client who then informs Vesicash Escrow to pay Mr. D since he is satisfied with the copies provided. Both parties are happy and they both get the best values.
Benefits of Using Vesicash Escrow for Freelance Services
For a freelancer, after you have been contacted by the client for the service you advertised, you can initiate the transaction on our platform by providing the details of your freelancing services and that of your client which will be verified by us. Instead of expecting payment directly from the client, something that might cause disagreement, later on, you pay into our trust account and we keep the funds secure while confirming the genuineness of the transactions. Once you are done providing the services, you get paid when the client affirms that he/she is satisfied with what you delivered.
Let us use the above scenario as an example, telling your client to pay into the Vesicash trust account shows that you are legit and have no plans of bailing out of the deal. As the person who needs freelancing services too, using Vesicash Escrow services will assure the freelancer that he would get paid since cash is already safely secured.
Using the Vesicash Escrow service gives a guarantee that you are dealing with a real entity since all the information would have been verified from our end and funds will not be released until both parties involved are satisfied. If by any chance that there is a discrepancy in what was required and what was delivered, the dispute window is opened and the discrepancy is resolved before the funds get disbursed.
What more can give more joy than having control over getting the full package for your money. This is what Vesicash is offering you- by using the Vesicash platform for your transactions. You decide when the funds get released, you report any dispute and overall, you control how your money is disbursed.
Hiring a freelancer or offering freelance services can be cool and fraud-free if you transact with Vesicash because our Escrow service provides all that you need to have safe, genuine and transparent transactions.