Escrow - See how it works
The Transpact process: it’s simple and safe!
We take a simple concept and put it into action, enabling you to protect yourself in transactions which involve payment.
Step 1: To start a transaction, register with Transpact – your details are completely safe – see our privacy promise.
Omit this step 2 if you have already been sent a Transpact proposal.
Step 2: Create a Transpact by completing the ‘Create a Transpact’ form with the amount to pay, the conditions under which this is to be paid, and the name of your referee in case there is a dispute between the parties. We offer a neutral referee service for those who cannot agree on their own referee.
Step 3: Click 'Submit' and a confirmation email offer is sent to you and the other party. The other party must then (register and) log in to Transpact to review the transaction terms. If they agree, they click 'Accept and Agree to Terms', and a confirming email is sent to both parties.
Step 4 (optional): If the other party isn’t entirely happy with your offered terms, they can make changes and click on the 'Submit Changes to other party' button, which sends an email to both parties detailing the amended terms. This process continues until one of the parties accepts and agrees the latest terms offered.
Step 5: Both parties receive confirmation of the agreed terms which will govern the Transpact, a reference number and Transpact's payment instruction and bank details.
Note carefully: Until this point, although offered terms have been agreed, no commitment has been made and there is no obligation binding on either party. Also, no fees are yet due and there is as yet no financial liability whatsoever. When payment in full is received by Transpact, the transaction terms agreed between you become a contract between the parties governing the payment. So you can negotiate with Transpact without pressure and without cost, only committing yourself when payment is made.
Step 6: When we receive full payment from both parties, Transpact will notify you that the transaction is now live, as can and should be confirmed by logging on to Transpact and checking the Transpact status. Your money will be safely and securely held by Transpact until either party instructs payment to the other side, by logging in to Transpact and clicking the 'Make Payment' button and following the Make Payment procedure. As soon as the payment instructions are completed, we transfer the money into your or the other party's bank account. This ends the Transpact.
It’s that simple!
This presentation is provided by Artprice.com for your information and convenience only.
Artprice.com cannot be held liable for the contents of this presentation.
Only may the corresponding Transpact.com page
https://www.transpact.com/TranspactProcess.aspx be held valid.