Using escrow for domestic and cross-border trade facilitation
Buyers and sellers expectations of friction-free experience in global trade and online marketplaces are rising with the growth of digital commerce. Risk reduction and mitigation are top of mind in these situations. However, we recognise the importance
of digital escrow arrangements to enable the experience that customers expect at scale.
For SMEs, our solution offers a comprehensive “trust infrastructure” comprising:
Data services such as business verification, sanctions, and credit history;
Digital sign up and exchange of documents relating to KYC, escrow, transaction, and shipping;
Simple milestone/performance-linked payment workflows, administered by a trusted third party; and
On-demand visibility of transaction status.
The Benefits of the Ceviant digital escrow service
Funds held in escrow remain protected from either party's insolvency due to neutral ownership of funds;
Due diligence from an independent party to help determine that a commercial counterparty is a credible partner;
Payment upon performance or fulfilment of predefined criteria, e.g. delivery vs payment;
Flexibility around different payment scenarios, e.g. milestone-based staged payments, payment on inspection or payment on delivery; and
Ability to work in tandem with working capital financing products, e.g. financing the buyer to fund escrow.