Escrow Payments

With the escrow payments, Cannabid can act as a third party on transactions between the Buyer and Seller

The seller lists items, and will have the option to accept payments himself or enable the escrow option

If escrow is enabled, the payment methods used by the site admin will also be used as direct payment methods

The buyer, upon purchasing a product or winning an auction, will pay for the item(s) to the site admin

The status of the item will be changed to \"paid\". At this time, the money is in escrow, and the seller can send the item(s) to the buyer

Once the buyer acknowledges that the item(s) has/have been received, the admin will pay the seller the amount owed minus the sale transaction fee, which if escrow payments are enabled, wont be added to the seller's account, but will be subtracted from the payment made by the admin to the seller

The seller can enable direct payment methods from his members area in order for the admin to be able to pay him directly through the site, however the payment is also possible to be made offsite.

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