Escrow - Morses Equipment

Morses Equipment

How Morses Equipment Escrow system works

We take pride in our association with some of the most reputable and well-known banks such as Chase, Bank of America & Wells Fargo. They are partnered with us to provide reliable escrow accounts for our orders. We take great pride in assuring our customers that their funds are safely secured by experienced and reputable banks.

The purpose of these partnerships is to provide an extra layer of security and assurance throughout the transaction process. By leveraging the expertise and trustworthiness of these banks, we can ensure that all funds passed through our escrow accounts are protected and handled with utmost care.

Rest assured, your funds are safe and secured by these partner banks. The escrow accounts are designed to safeguard your money, providing an added level of reassurance to all parties involved in the transaction.

If the buyer approves the vehicle during this time, the escrow payment is released to the seller. If they reject the vehicle, the funds are returned to the buyer’s bank account.

Benefits of Escrow

Escrow is a service that acts as a neutral third party to hold funds, assets, and documents until certain conditions are met. This process reduces the risk for both parties involved and helps ensure a smooth and secure transaction.

The primary benefit of using an escrow service is that it provides security for both parties involved in a transaction. For buyers, escrow ensures that their money is safe until the transaction is complete. For sellers, escrow ensures that they receive payment for their goods or services before they are delivered. Escrow also reduces the risk of fraud and helps to prevent disputes between buyers and sellers.

Payment Options :

Wire Transfer & Online Wire Transfer

We are all about making your life easier, so we can also arrange any of these options… just talk to your coordinator and we will work it out!

ESCROW TRANSACTIONS

The escrow transaction process typically begins once both parties agree on the price. The buyer sends the agreed amount to our escrow account. The funds are held in the escrow account during the inspection period, which can last a few business days. If the buyer approves the vehicle during this time, the escrow payment is released to the seller. If they reject the vehicle, the funds are returned to the buyer’s bank account.

An escrow account is an account designed to hold funds temporarily in safekeeping. For example: the escrow account does not favor the seller or purchaser — they just follow the rules that purchasers and sellers agree to. Escrow accounts can help to facilitate almost any kind of transaction. It helps make transactions more secure by keeping the payment in a secure escrow account which is only released when all of the terms of an agreement are met as overseen by the escrow company.

The process of using Morses Equipment escrow service for your heavy equipment purchase couldn’t be simpler. Once the purchaser has chosen the item that they want to buy they will contact Morses Equipment to have the terms of the sale written up. These terms include, but are not limited to, the cost of the item and a period in which the purchaser can let the seller know if they are unhappy with any aspects of the item, this is an extra guarantee to the purchaser, provided by Morses Equipment , that if the item has any previously undisclosed faults, they will be within their rights to dispute the transaction.

5 STEPS OF THE SALES PROCESS

1. BUYER AND SELLER AGREE TO TERMS

Both parties agree to terms and conditions of the transaction, which include a detailed description of the item, the agreed purchase price and the number of days for the buyer’s inspection of the item.

2. BUYER PAYS Morses Equipment

The Buyer submits a payment by approved payment method to our secure Escrow Account. Our Financial department verifies the payment, the Seller is notified that funds have been secured ‘ In Escrow’. Payment verification process takes up to 24 hours.

3. Morses Equipment SHIPS ITEM TO BUYER

Once the transaction is complete and the funds are securely held in escrow, Our shipping company will promptly arrange for the item delivery to Buyer’s shipping address. The 5 days inspection period begins once the item is delivered at Buyer’s shipping address.

4. BUYER ACCEPTS ITEM

The Buyer has a set number of days to inspect the item and the option to accept or reject it. It is the Buyer’s responsibility to inspect the item, and make their own assessment as to the item’s condition and suitability for use. The Buyer accepts the item.

5. Morses Equipment PAYS THE SELLER

We releases funds to the Seller from the Escrow Account and the transaction is complete. If the Buyer is not satisfied, Buyer must notify our department. A solution to most problems can usually be negotiated between the Buyer and Seller. If this is not possible, the funds will be refunded to the Buyer within 24 hours.

GET Morses Equipment ADVANTAGE

We ensure your transactions are safely carried out and secured without the risk of either party losing money or valuable cargo by keeping payment secured and releasing cargoes only when all the terms of an agreement are met.

We provide protection to both buyer and seller, facilitating secure transactions and enabling buyers and sellers to trade confidently.

Document Preparation : The following forms, for instance, are standard and used frequently in our transactions :

Invoice
Escrow Agreement
Bill of Landing

Having a knowledgeable Escrow Officer who gives good customer service will make a huge difference.

PROTECTION & REFUND

To protect you against the risk of liability, Morses Equipment holds the purchaser’s funds pursuant to the terms of the Morses Equipment Purchase Protection Program Policy, and any other agreement entered Morses Equipment and its customers. When payment is received, it will be verified and secured into a non-interest-bearing trust account. After payment is secured, Morses Equipment ships the item to the purchaser.

When you make a transaction using Morses Equipment , your funds are held in secured, non interest bearing trust account until the transaction is completed. This ensures that your transaction is protected against chargebacks, fraud or wrongly described goods.

PROFESSIONAL ESCROW OFFICERS

Our licensed and regulated services are also backed by our experienced and knowledgeable escrow officers. Our friendly escrow professionals are available to assist you personally with any need that may arise. That being the reason, that our Bank accounts are handled by our Escrow officers.

WHY SHOULD WE PAY ONLINE?

With dozens of other payment options available such as checks, drafts, money orders, and electronic bank transfers, one may wonder why so many people use this new method of payment. Indeed, the older payment methods are tried, tested, and a lot more comfortable for some people. However, online payment offers exclusive advantages that other payment options don’t.

When paying online, you can easily buy an item, basically anywhere in the world, much faster than the check-and-stamp method. Automated payments also mean that there are no delays or late penalties. Contrary to popular belief, it is much safer to conduct your transaction online as everything is documented, and there are no sensitive details on paper.

Online payment eliminates clutter by, in some cases, eliminating the need for paper bills that require filing. It makes organizing and keeping track of payments easier and more convenient. Finally, if using online payments, many banks will provide graphs and information that help you track your spending and keep your budget on task.

There are many types of transactions that can be made online, everything from paying your phone bill to purchasing small gifts for family members. For larger transactions, though, you may want to seek the services of an escrow company. By putting your money into an escrow account, you can protect yourself from fraud.

ADVANTAGES OF USING Morses Equipment

We ensure that the buyer and the seller are protected equally and their disputes dealt with the utmost concern. We verify the funds sent by the buyer and keeps them in our secure trust escrow account for the seller. We ship the item only after the buyer has made complete payment to Morses Equipment We ship and tracks your merchandise to make sure that it is delivered in time according to the conditions mentioned in the agreement. The seller is not paid until the buyer accepts the merchandise and has the chance to fully inspect it. After the buyer inspects and accepts the merchandise, the funds will be moved from our escrow account to the seller’s account.

There is no scope for uncertainty or worries as the entire transaction is conducted under the supervision of Morses Equipment honest and diligent professionals. With Morses Equipment reliable brand shielding your transaction, you can rest assured that your funds are in safe hands, free from fraud. The sale is highly simplified as you, the buyer, just pay off your price and let Morses Equipment handle everything else, be it shipping, delivery or quality inspection. Morses Equipment sliding revenue scale ensures that large transactions don’t mean huge chargebacks and fees.