The Escrow Process Explained
EUReg will receive and hold the funds from the Buyer and will initiate the trade procedure for the domain name(s). Once the transfer is confirmed and Buyer takes ownership of the domain name(s), EUReg will release the funds to the Seller.
Step by Step
The steps to a successful transactions are detailed below
Setting up the Escrow transaction
Seller and Buyer negotiate the terms of the deal and an Escrow transaction is created.
If the Buyer uses Buy Now to purchase a project from EUReg Marketplace, an Escrow transaction is created automatically.
Buyer Details and Payment
Buyer submits his details and sends payment to EUReg. EUReg will notify the Seller once the funds are received.
Transfer procedure
Seller will send the Trade Key to EUReg and EUReg will initiate the trade (change of ownership procedure) with the Registry.
Transfer validation
After the transfer is validated by the Registry, EUReg will send to Buyer an invoice for the domain maintenance fee. Transfer is finalized when the maintenance fee is paid and the domain will be moved to Buyer's account.
At this point, the project source-code archive is made available to the Buyer in the transaction page.
Funds released to Seller
Once transfer is finalized, EUReg will release the funds to the Seller.
FAQ
What are the Fees for using the Escrow Service?
EUReg will charge the Seller 5% of the transction value, no less than €20. The Escrow fee can be divided between Buyer and Seller in any form (50-50, 30-70, etc). Contact EUReg to setup a custom fee arrangement.
What payment methods do you accept?
We accept all major credit/debit cards and bank transfers in RON or EUR (SEPA Credit Transfer). A handling fee of 2% will be charged for funding the transaction with a credit/debit card. This handling fee does not apply to bank transfers.
What is the cancellation policy?
Both parties have the right to cancel the transaction without penalties until the payment is made. In any case of cancellation that requires a reimbursement, EUReg reserves the right to deduct escrow fees in addition to any other applicable penalties and fees, regardless of who requested the cancellation.
