Castler closes Pre-Series A funding of $6 Million led by Flipkart, Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

Categories faq: Formal Giving Platform

What happens if there is a dispute in an escrow transaction?

If there is a dispute in an escrow transaction, the fund is being held by Castler until the dispute is solved.

What are the responsibilities of the buyer, seller, and escrow agent in an escrow transaction?

The responsibilities of the buyer, seller, and escrow agent in an escrow transaction vary depending on the specific terms of the transaction. However, in general, the buyer is responsible for providing the funds, the seller is responsible for providing the property, and the escrow agent is responsible for holding the funds or property in escrow and releasing them to the appropriate party once all of the conditions of the transaction have been met.

What are the steps involved in setting up an escrow account?

To set up an escrow account, you will need to contact an escrow company and provide them with the following information:

The names of the parties involved in the transaction
The amount of funds involved
The terms of the transaction
The desired level of security and confidentiality

How do I choose the right escrow service for my formal giving platform?

When choosing an escrow service for your formal giving platform, there are a few factors you should consider, including:

The cost of the service
The types of services offered
The level of security and confidentiality
The reputation of the escrow company