Definitions for "Escrow Service"
An escrow service can be employed to help you carry out a transaction once the winner of the auction is decided. Internet escrow services such as collect funds from the buyer and hold them until the buyer receives the item. The service will then release the funds to the seller.
a bit like an old-fashioned system whereby a third party holds the goods on the seller's behalf and receives the payment amount from the buyer
a company that acts as an intermediate between buyers and sellers, such that transactions are completed safely and fairly
a place you can transfer money into, while waiting for goods or services you purchased to be delivered