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

How does a cross-border escrow service handle transactions involving different types of insurance?

Castler Digital Identifier system is a platform that facilitates secure and transparent transactions between parties involved in a business deal. It acts as a neutral third party that holds funds until the terms of the agreement are met. The system is designed to handle cross-border transactions, which involve parties from different countries.

When it comes to transactions involving different types of insurance, the escrow service ensures that the terms of the agreement are met before releasing the funds. For instance, if the transaction involves shipping goods from one country to another, the escrow service may require the buyer to provide proof of insurance that covers the shipment. This ensures that the goods are protected in case of damage or loss during transit.

Similarly, if the transaction involves the sale of a property, the escrow service may require the buyer to provide proof of title insurance to protect against any claims on the property. The escrow service ensures that all the necessary insurance requirements are met before releasing the funds to the seller.

In summary, the Castler Digital Identifier system handles transactions involving different types of insurance by ensuring that the terms of the agreement are met before releasing the funds. This ensures that both parties are protected and the transaction is completed successfully.