Escrow Agreement = Contract?

[Shane]

Good Morning DNF!

I have a quick question.. Is accepting an Escrow.com agreement (more or less) the same as signing a contract?

Regards,
Shane

 

[BiggieBiggie is verified member.]

Hi Shane

In many instances, signing an "agreement or a contract" can be synonymous.

though "contracts" are mostly for detailing services to be rendered, they are still an agreement between two or more parties.

Suggest you read the TOS, if you haven't already or for others who may have similar question:

this is just introductory paragraph..

These Terms of Use ("Terms of Use" or "Agreement") shall serve as an agreement that sets forth the terms and conditions which will govern your use and participation in the transaction management and escrow services provided on and through Escrow.com (the "Services"). By electing to utilize the Services you shall have also indicated your acceptance of these Terms of Use and your intent and agreement to be bound by them. If you are unwilling to agree to these Terms of Use, you shall discontinue further use of the Services. If you agree to these Terms of Use, you will be bound as follows:

https://escrow.com/escrow-101/terms-of-use.aspx


imo....

Good Luck!

 

[Shane]

Thanks Biggie! I read through the TOS and it looks as if it's a binding agreement.

I guess I have two followup questions..

What happens if a buyer fails to pay and is in breech of the contract? What options do I have?

 

[BiggieBiggie is verified member.]

Thanks Biggie! I read through the TOS and it looks as if it's a binding agreement.

I guess I have two followup questions..

What happens if a buyer fails to pay and is in breech of the contract? What options do I have?

again, depends on if it's an agreement or a contract. I know that's confusing but it makes a diff.


if you agree to transact via escrow, using escrow is "one" agreement in part, and in conjunction with...any previous agreements which got you to that point.

you feel me?

what options you have if buyer fails to fulfill the obligations set forth within those agreements, may be limited to statements made therein.


mumbo-jumbo for sure, but's that's how shiz-zit works




but my perspective is, as long as I still have the domain....don't care if they don't pay.





imo...

 

[Theo]

You have the option to seek legal advice and proceed with enforcing the contract. This might require minimal legal action, or a full blown lawsuit.