Frequently Asked Questions
A compilation of what you need to know
1What is Escrow?
In this case, our escrow refers to funds. Its an agreement between 2 parties (buyers and sellers) to place funds with a third party (Vahlid) in holding until a contractual agreement between the two parties (buyers and sellers) is complete and there’s authorization of release of the held funds to the relevant party.
2Why should I trust an escrow service for my transactions?
Our escrow service (Vahlid) provides the opportunity for any party to avoid the risk of losing their money or monies, provided the service they are willing to pay for does not meet the standards advertised by the seller. It also helps to protect the interest of any party by ensuring the buyer commits to the requested goods or service before disbursement.
3Who initiates a Vahlid escrow service?
Any party that wants to pay for goods and services can initiate the escrow on our platforms. The escrow also protects the interest of the seller.
4Who closes a Vahlid escrow service?
The escrow is closed at the instance of the parties upon dual validation of a complete and satisfactory service on our platforms.
5What happens to funds in a Vahlid escrow once the service is completed?
The funds are released to the seller upon dual validation by both parties. If there’s a dispute raised by the buyer, concerning inferior or below standard goods or service delivered, the fund is returned to the buyer. If the seller raises a valid dispute, the funds are frozen and flagged to the relevant authority for immediate resolution.
6What does Vahlid charge for the escrow service?
We have various charges per size of transaction. Our charges are minimal and very affordable. Please refer to our charge structure for further verification.