Understanding Escrow and Secure Payments
Learn how ANQ's escrow system protects both clients and professionals, ensuring secure and fair transactions.
What is Escrow?
Escrow is a secure payment system where funds are held by a trusted third party (ANQ) until work is completed and approved. This protects both clients and professionals by ensuring payment is only released when work meets agreed-upon standards.
When you start a project on ANQ, payment is held in escrow. This gives clients confidence that professionals will deliver quality work, and gives professionals confidence they'll be paid for completed work.
How Escrow Protects Clients
As a client, escrow protects you by ensuring you only pay for work that meets your requirements. If work doesn't meet standards, you can request revisions before payment is released. This gives you control and peace of mind.
Client Benefits:
- Payment only released for approved work
- Ability to request revisions before payment
- Dispute resolution if issues arise
- Protection from non-delivery
- Secure transaction processing
How Escrow Protects Professionals
For professionals, escrow ensures you get paid for completed work. Once work is approved, payment is released promptly. You don't have to worry about clients not paying or payment disputes.
Escrow also builds trust with clients, making them more comfortable hiring you and potentially leading to more projects and better rates.
The Escrow Process
The process is simple: funds are deposited into escrow when a project starts, work is completed and submitted, client reviews and approves, and payment is released to the professional. If issues arise, ANQ's dispute resolution process helps resolve them fairly.
Conclusion
Escrow creates a secure, fair environment for both clients and professionals. By protecting payments and ensuring quality work, it builds trust and enables successful collaborations on ANQ.