A cross-border escrow service, such as Castler’s digital escrow system, acts as a neutral third party that holds funds until both the buyer and seller have fulfilled their obligations in a transaction. In the event of a dispute, the escrow service can step in to help resolve the issue.
If a dispute arises, the escrow service will typically investigate the situation and gather evidence from both parties. They may also consult any relevant terms and conditions or agreements that were agreed upon before the transaction took place.
Once all the information has been gathered, the escrow service will make a decision on how to proceed. This could involve releasing the funds to the seller, returning the funds to the buyer, or holding the funds until a resolution can be reached.
Overall, a cross-border escrow service provides a secure and reliable way for buyers and sellers to conduct transactions, with the added benefit of dispute resolution services if needed.