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Escrow - remove the risk of losing yor money

Escrow Protection at Checked and Vetted

What is Escrow? - the Cambridge English Dictionary defines Escrow as follows:

"An agreement between two people or organisations in which money or property is kept by a third person or organisation until a particular condition is met."
e.g. The money was held in Escrow until the job was completed at which time (on your authority) they release the money to the Tradesperson.


Just imagine… You’re finally ready to upgrade your house into your dream home. You’re getting an extension, dream kitchen and fabulous new bathroom.

Plans are drawn up, all planning permissions sorted and you’ve selected your preferred Checked and Vetted tradespeople for every stage of the job. Maybe even one contractor to manage the whole project for you. You can hardly contain your excitement!

But…. There’s a little niggle in the back of your mind.

This project is going to cost you thousands. Maybe you re-mortgaged your house to pay for it and now you’re going to hand all your money over to a builder. You hope they will do a good job for you, but you won’t really know until the job is finished. What if there is a problem when you’ve already paid for it? Or perhaps you don’t think the standard is good enough? What if the builder disappears with your deposit and never returns. What can you possibly do?

On the other hand, tradespeople have similar worries. Customers not paying at agreed times, causing cash flow problems. Customers changing their minds about what they wanted, after materials have been bought and paid for. Or refusing to pay at all when the project has been completed to the agreed specification. You’re asking traders to commit to an expensive project. To buy materials and pay for labour. They have no way of knowing if you can afford the project. They take you and your project on faith.

This is where Escrow protection comes in. It's low cost, starting at just £2.99 per party for up to £10,000 of cover, Escrow will save all your worries.

So whether it's £100 or £100,000, Escrows are designed for situations like building projects where payments will depend on the builder fulfilling the agreed specification and where you must be satisfied with progress made before making any payments. Our Escrow partners Transpact, can provide you with this low cost and secure Escrow service.

Click HERE to see how their service works
or
Click HERE to create or access your Escrow account

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