Escrow - Safe Payment Service is a unique and innovative service which protects both the buyers and the seller from fraudulent transactions.
Safer and quicker business transactions with international buyers.
At BulkOil we understand that both buyer and seller may have concerns when involved in an international transaction.
This is why BulkOil is committed to reducing your risks and facilitating your global commerce.
We offer an unparallel escrow service that reduces the seller’s risk,by requiring buyers to deposit the agreed purchase price to the secure BulkOil account.
At the same this service protects the buyers by tracking the merchandise and verifying that it has been delivered to the buyer.
Bulkoil is the transaction guarantor. It receives money from buyer and after the shipment of the goods it transfers the money to th
Save now on the overall operational costs and allow your business to reach out to international buyers safely!
BulkOil Escrow Service is safe, fast and inexpensive.
style="color:#918a0c; font-size:18px">How BulkOil Escrow Service works:
- Buyer and seller clinch a deal.
Buyer and seller agree on the terms of the transaction (price, quantity, type of goods, delivery method and delivery date).
- The buyer sends the amount to be paid to BulkOil.
The buyer deposits the amount agreed on to a secure BulkOil bank account. BulkOil will hold the payment in escrow until the inspector authorizes to release payment to the seller.
- BulkOil supervisor checks, approves and releases the goods to be shipped.
After receiving the payment, a BulkOil supervisor shall be sent to the seller's warehouse to check for compliance of the goods to be shipped with the buyer's order and to collect transport documents as well as the bill of entry. The inspection of goods to be shipped comes in several options, i.e. as a basic inspection or an in-depth and thorough inspection according the buyer's requirements.
Buyers have the following options:
- Supervision service of loaded goods(basic service described above). Compliance and accuracy checks carried out by BulkOil inspectors during the loading process. This includes the verification of goods against the contracts that have been signed. Inspection activities are carried out on the basis of clients' contract documents and check upon the following elements where applicable: product identification, product weight or count check and compliance check with packing list, check of package integrity and sealing of containers.
- Inspection of loaded goods and product sampling with shipment of samples to local laboratories (where available) to check oil quality.Compliance and accuracy checks carried out by BulkOil inspectors during the loading phase, in addition to laboratory sample testing according to the client's requests.
- Inspections of loaded and unloaded goods with quantity check certification.Compliance and accuracy checks carried out by BulkOil inspectors during the loading and unloading phase.
- Overall coverage of goods. Sealing of goods upon outbound shipment and opening of seals upon arrival.This inspection activity is more comprehensive than the other available options, a BulkOil inspector oversees all shipping phases: pre-load activities, sealing of containers/tanks and opening of containers/tanks upon their arrival. With this type of inspection, liability is taken for the quantity of goods throughout the transport period (however, BulkOil must have full control over all process steps in this case).
- The seller receives the payment.
Once orders are checked for compliance, transport documents have been completed, and orders are verified and approved BulkOil will then release and transfer payments to the seller.
you can also read theTerms and Conditions of the Escrow Service