An escrow is a financial arrangement where a third party(Kiwpay) holds and regulates payment of funds required for two parties involved in a transaction. Escrow protects both the buyer and the seller in a transaction by acting as a neutral party to ensure that the terms of the transaction are met. Here’s how an Kiwpay escrow typically works:

1. **Agreement**: The buyer and seller agree on the terms of the transaction, including the conditions that need to be met before the funds are released.

2. **Opening Escrow**: The buyer deposits the funds into Kiwpay Kiwtok Escrow Account held by the Kiwpay agent. The funds are held until all the conditions are fulfilled as per the agreement.

3. **Fulfillment of Conditions**: The seller completes all necessary requirements as agreed upon in the transaction. This could be delivery of goods, completion of services, or other specific conditions.

4. **Release of Funds**: Once all conditions are met, Kiwpay releases the funds to the seller, completing the transaction.

5. **Resolution of Disputes**: If any disputes arise during the transaction, Kiwpay agent can mediate and ensure a fair resolution based on the terms of the agreement.

In Ecommerce transactions, escrow plays a crucial role in holding the down payment and other funds until all conditions of the sale are met. It provides security for both parties involved in the transaction.

With Kiwpay Escrow, you can order goods and the money will be released to the vendor only if you’re satisfied with the product.