BigTree
Established Member
- Impact
- 131
Most of my transactions I always done through diffrent auction platforms.
But recently I have been using Escrow.com more often and because of that i took a closer look at their policy.
One thing which little bothers me is a statement regarding cancelations.
"After funds are secured, the cancellation of a transaction can only be done by Escrow.com after notifying both parties."
It seems to me that even after funds are secured by Escrow.com a transaction still can be cancelled (a buyer needs to just come up with a right reason why he wants to do that, or maybe he just simply doesn't accept a domain push....)
From other auction platforms I know thing like this is not possible. A domain buyer automatically enters into a legally binding contract to purchase the domain from the seller if his bid is accepted by the seller or he bought the domain in BIN form - none of them can be cancelled.
Can anyone share his experience with Escrow.com related to this matter, please?
But recently I have been using Escrow.com more often and because of that i took a closer look at their policy.
One thing which little bothers me is a statement regarding cancelations.
"After funds are secured, the cancellation of a transaction can only be done by Escrow.com after notifying both parties."
It seems to me that even after funds are secured by Escrow.com a transaction still can be cancelled (a buyer needs to just come up with a right reason why he wants to do that, or maybe he just simply doesn't accept a domain push....)
From other auction platforms I know thing like this is not possible. A domain buyer automatically enters into a legally binding contract to purchase the domain from the seller if his bid is accepted by the seller or he bought the domain in BIN form - none of them can be cancelled.
Can anyone share his experience with Escrow.com related to this matter, please?