Escrow
How Solano Auto Transport Escrow Works ?
Solano Auto Transport minimizes the risk of fraud by serving as a trusted third-party escrow service—securely holding funds and releasing them only when both buyer and seller are fully satisfied. Escrow is especially valuable in high-value transactions, such as those involving vehicles or heavy equipment, where financial risk is significant. By placing funds in escrow, both parties are protected throughout the transaction, eliminating the need to rely solely on trust or verbal commitments.
Virginia Contreras – Escrow Officer
How Does Solano Auto Transport Escrow Service Protect Against Fraud?
Identity Verification
We verify the identity of all sellers involved in the transaction.
Ownership Verification
We verify the ownership of the items sold using our escrow service.
Funds Verification
All payments by the Buyer are verified as “good funds” before the shipping starts.
Secure Shipping
All shipments are made by Solano Auto Transport to ensure the Seller shipped and the Buyer received the item.
Inspection Period
If the item has any previously undisclosed faults, the Buyer has the opportunity to “Reject” and return the item during the Inspection Period, while the funds are still in escrow.
Steps to protect Buyers and Sellers from fraud.
- 1Step 1. Buyer and Seller agree to terms
Either the Buyer or Seller initiates a transaction. All parties agree to the terms of the transaction, which includes a description of the item, sale price and number of days for the buyer's inspection of the item.
- 2Step 2. Buyer submits payment to Solano Auto Transport
The Buyer submits a payment by approved payment method to our secure Escrow Account, Solano Auto Transport verifies the payment, then the Seller is notified that funds have been secured “In Escrow”.
- 3Step 3. Solano Auto Transport delivers goods to Buyer
Upon receipt of Buyer’s funds, and funds verification, Solano Auto Transport starts the shipping of the goods and submits tracking information. Solano Auto Transport verifies that the Buyer receives the goods.
- 4Step 4. Buyer accepts goods
The Buyer has a set number of days to inspect the goods and the option to accept or reject it. The Buyer accepts the goods.
- 5Step 5. Solano Auto Transport releases payment to Seller
Solano Auto Transport releases funds to the Seller from the Escrow Account
Escrow Account
When you make a transaction using Solano Auto Transport 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.
Personal service behind every transaction
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. At Solano Auto Transport, we offer live phone support Monday through Friday, from 9:00 am to 9:00 pm and Saturday 9:00 am to 7 PM Eastern Daylight Time. In addition, we offer email support 24 hours a day, 7 days a week.
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 Solano Auto Transport’s escrow account, you can protect yourself from fraud.
Payment Options
Solano Auto Transport offers many types of payment options including wire transfers, checks and money orders, credit cards, PayPal and cryptocurrency. Payment types may have certain limitations, however. For example credit cards and PayPal are subject to additional fees and have a maximum of $5,000 while checks and money orders have a $2,000 maximum and are subject to a ten business day hold.
Advantages of using Solano Auto Transport
Solano Auto Transport provides a host of advantages for people who choose to transact with it. Whether it is a car, motorcycle, boat, RV or heavy equipment, Solano Auto Transport ensures that all buyers and sellers are protected equally and their disputes dealt with the utmost concern. Solano Auto Transport verifies the funds sent by the buyer and keeps them in our secure trust escrow account for the seller. We ship the merchandise only after the buyer has made complete payment to Solano Auto Transport. Solano Auto Transport ships 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 Solano Auto Transport’s escrow account to the seller’s account. Using a licensed escrow service to buy and sell merchandise, services and more is the most convenient way to complete transactions online. Facilitated by a trusted third-party, the escrow process acts as your personal tool to ensure a safe, secure and intuitive sale for both buyers and sellers.
How does Solano Auto Transport Escrow Service protect against fraud?
Solano Auto Transport takes several steps to protect both the Buyer and Seller against fraud: – We verify the identity of all sellers involved in the transaction. – We verify the ownership of the items sold using our escrow service. – All payments by the Buyer are verified as “good funds” before the shipping starts. – All shipments are made by Solano Auto Transport to ensure the Seller shipped and the Buyer received the item. – If the item has any previously undisclosed faults, the Buyer has the opportunity to “Reject” and return the item during the Inspection Period, while the funds are still in escrow.
FAQ
More Frequently Asked Questions:
- When should I use Solano Auto Transport Escrow Service?
Solano Auto Transport Escrow Service may be used for transactions involving the sale of most motor vehicles and heavy equipment. We are ideal for high-priced vehicles, boats, farm or construction equipment (above $10,000 USD), also when Buyer and Seller have no prior understanding. We’re often used for purchases on auction sites, classified ad sites, business-to-business e-commerce sites, and online merchants.
- Can I use my own shipping company to ship the item?
No. Using our escrow service you agree to ship the item only using our shipping service. This way we can be in full control and accurately track when the Seller ships the item and the Buyer receives the item.
- Who pays for shipping?
During the agreement of terms, the Buyer and Seller agree as to who will pay for shipping. If the Seller is paying the shipping, the cost does not need to be added to the transaction.
If the Buyer is paying the shipping cost, the Seller can add the cost to the transaction. Solano Auto Transport will collect the shipping cost along with the purchase price and any portion of the escrow fees due from the Buyer. The Seller will initially pay the shipping directly, at the time of shipment; the Seller will be reimbursed the shipping cost at the close of the transaction.
- Who is responsible for paying escrow fees to Solano Auto Transport?
Buyer always pays the Escrow Fee. The fee will be added to the upfront or initial payment from the Buyer and it will be displayed on the invoice provided by Solano Auto Transport.
- When the Inspection Period starts?
The Inspection Period begins when the Buyer marks the item as received or when Solano Auto Transport Escrow Department receives confirmation that the item, has been delivered.
- If the Buyer rejects an item, who pays for shipping?
If the Buyer rejects an item because it wasn't described completely accurately, the seller is responsible for covering the cost of shipping. If the Buyer decides to “Reject” the item with no real arguments, the Buyer is responsible for covering the cost of shipping.
- How long does the Buyer have to inspect the items?
At the start of the transaction, the Buyer and Seller will need to set the terms of their transaction to include an Inspection Period. The Inspection Period is the period of time the Buyer has to examine the item, once received. The Inspection Period can be set between 1-5 calendar days. During this time, the Buyer may examine the item after receipt, and the Buyer has the option to “Accept” or “Reject” the item. Firstline Trucking only releases funds to the Seller once the Buyer accepts the products.
- What if the Buyer does not pay?
If the Buyer does not fund the transaction, it can cancel due to inactivity or either party may request cancellation. The Buyer's funds are secured by Solano Auto Transport before the shipping start, eliminating the concern of non-payment.
- Does Solano Auto Transport accept multiple or split payments?
Solano Auto Transport requires the entire transaction amount to be deposited in escrow by the Buyer as one payment, unless multiple wires will be sent. The Buyer needs to contact the support department before sending multiple wires. Please note that failure to send the entire transaction amount including any agreed fees can result in the refusal of funds, delayed application of funds, and/or additional handling fees.
- Does Solano Auto Transport accept Deposits from the buyer?
No, the Buyer must submit the entire amount of the transaction to Solano Auto Transport Escrow Account.
