Silk Road forums

Discussion => Newbie discussion => Topic started by: isallmememe on July 15, 2013, 12:08 am

Title: sr escrow
Post by: isallmememe on July 15, 2013, 12:08 am
how does it work on here? ..the idea of escrow is that a third party holds the funds until the buyer confirms delivery. if delivery doesn't happen then the third party returns the funds to the buyer. on many sellers profiles tho, i am seeing something like '50% return for non delivery', '30% if you have low stats' etc. that's not really escrow is it?
Title: Re: sr escrow
Post by: PowerToCharm on July 15, 2013, 12:30 am
SR will hold your funds in escrow until you signify that all is well with your order, then release the funds to the seller. But if something is not OK with your order, you can attempt to resolve it with the seller, and many sellers post their refund policies so disgruntled buyers know what to expect. If the buyer and seller cannot reach a resolution on their own, SR staff will step in to settle the matter.
Title: Re: sr escrow
Post by: Atrate on July 15, 2013, 12:32 am
Is the process for how SR investigates disputes public information?
Title: Re: sr escrow
Post by: luteinsr on July 15, 2013, 12:54 am
I'm a newbie.  Do I need to do anything to setup an Escrow account?
Title: Re: sr escrow
Post by: PowerToCharm on July 15, 2013, 01:02 am
You do not need to set up an escrow account. When you place an order, your funds are automatically in escrow until you release them by finalizing the order. If you fail to finalize, the order will eventually auto-finalize, but this is very inconsiderate to the vendor and is generally frowned upon. At the same time, if you finalize before receiving your order (finalize early or FE) your funds are no longer held in escrow and SR cannot help you if your order never shows or if there's something wrong with it. The lesson here is NEVER FINALIZE EARLY.
Title: Re: sr escrow
Post by: Trappy on July 15, 2013, 01:17 am
You do not need to set up an escrow account. When you place an order, your funds are automatically in escrow until you release them by finalizing the order. If you fail to finalize, the order will eventually auto-finalize, but this is very inconsiderate to the vendor and is generally frowned upon. At the same time, if you finalize before receiving your order (finalize early or FE) your funds are no longer held in escrow and SR cannot help you if your order never shows or if there's something wrong with it. The lesson here is NEVER FINALIZE EARLY.

Well said! +Karma
Title: Re: sr escrow
Post by: AmericanTragedy on July 15, 2013, 01:22 am
The only time I'd Finalize Early is if I'd done repeat business with the vendor and personally trust them, or they are vouched for by trusted members. It's always a risk though, so use discretion.
Title: Re: sr escrow
Post by: 88fxstc on July 15, 2013, 03:03 am
The only time I'd Finalize Early is if I'd done repeat business with the vendor and personally trust them, or they are vouched for by trusted members. It's always a risk though, so use discretion.

I made multiple orders with DaRuthless1, all made it to me the next day, except for 1 which took 2 days. He had a 100% vendor rating and he just burned a ton of people outa lots o dough. I'm glad I didn't fall for the scam when he started asking for FE, it just shows that repeat business and vouches by members guarantees nothing.
Title: Re: sr escrow
Post by: DeemTeam on July 15, 2013, 03:10 am
Yes greed gets the best of some people best to follow the well preached words of SR of NEVER FE EVER!