Third Party Funds holding and
transfer
Similar in function to the classic
PayPal and Ebay system of paying
for goods received after satisfactory
completion of works carried out.
The Federation provides a system
where a situation arises that would
help mediate a satisfactory completion
of a gate/ barrier installation.
This system known as Escrow - allows
AESIF to oversee the project and
communicate with both the contractor
and end customer.
The contractor and customer agree
to AESIF acting as Escrow agents
and receive the contract agreed
value in an agreed currency from the
end customer and holds it until
the contractor has completed
the installation and both contractor
and customer acknowledge satisfactory
completion of the project. At which
time AESIF will release the funds
held on behalf of the end customer
to the contractor who has carried
out the project work.
This system of Escrow Service is
beneficial when situations arise
of lack of faith between the parties
that the contracted works will be
completed satisfactory or where
the contractor is in doubt that
they will indeed receive total payment
for the project they are undertaking.
AESIF does have to charge for such
a service - Please contacts us immediately
giving details of your situation
so that we can accurately assess
the situation and explain the level
of charge required for AESIF to
act as Escrow Agents in your particular
case.
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