Escrow Services

We understand that buying and selling commodities to unknown persons via the Internet might make Buyers feel uneasy, especially when dealing with high-value items. MACHINIST EXCHANGE has collaborated with Escrow.com, a neutral third party that monitors and transacts payment and merchandise exchanges.

Using Escrow.com gives you peace of mind knowing that you are supported by a licensed and audited escrow service.  A few of the benefits to our members are:

  • Online escrow that is simple and safe for Buyers and Sellers
  • Compliant with relevant state laws
  • Armed with an in-depth knowledge of the escrow process
  • The safest service to trust with your money

What is Escrow?

An escrow is a financial and legal agreement designed to protect Buyers and Sellers in a transaction. With an escrow payment, the Seller will only receive the funds when the Buyer has received and accepted the products and/or services that are part of the transaction.

How does Escrow work?

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Confidence for Buyers

We do not release the money to the Seller until the merchandise has been received and approved by the Buyer. This provides online buyers the same security that off-line buyers have.

Peace of Mind for Sellers

Protected from fraudulent checks and money order scams, the Seller has peace of mind knowing funds are behind the Escrow.com shield. Escrow.com tracks the merchandise to confirm when it has been received by the Buyer and starts the inspection period.

Frequently Asked Questions

The buyer is responsible for the escrow fees for all purchases on MACHINIST EXCHANGE 

Swipe the table right to left to view more info*

Transaction value Fees Fees
$0-$5,000: 3.25%
$5,000.01-$25,000: $162.50 + 0.26% of amount over $5,000
>$25,000: 0.89%
$25 charge in case of international wire transfers  
3.05% processing fee for payment via PayPal/Credit Card)  

Swipe the table right to left to view more info*

Transaction value Fees Fees
$0-$5,000: 3.25%
$5,000.01-$25,000: $162.50 + 0.26% of amount over $5,000
>$25,000: 0.89%
$25 charge in case of international wire transfers  
3.05% processing fee for payment via PayPal/Credit Card)  
  • You are using a secure online system established by Escrow.com to transfer the funds for the machine, and the seller is notified that the money is in a holding account waiting for them to fulfill their obligations as agreed in step 1.
  • The machine is then shipped and tracking information provided to Escrow.com.
  • After arrival you have 48h time to inspect and subsequently accept the machine and advise Escrow.com accordingly. If you reject it a dispute will be raised and Escrow.com will act as a professional third party for resolution, including arbitration as the case may be..
  • Once the machine has been accepted by you, Escrow.com releases the funds to the seller and the transaction is complete.

At times transactions can have issues, and if there is a disagreement, you and the seller will enter the Dispute Process.

A dispute happens when you do not accept the machine and intend to return it, and the seller rejects this return. If you return the machine, and the seller accepts the return, this is not considered a dispute.

  • You reject the machine, and If the Seller accepts the return of the machine, then a refund is processed to you.
  • The seller rejects the return of the machine. After Escrow.com is notified, you and the seller enter the Negotiation Period.
  • Negotiation Period. You and the seller have 14 calendar days to resolve the dispute without using a third party. For this purpose Escrow.com has a conflict resolution team, which will act as a professional and independent advisor to assist you and the seller.  Experience shows their capabilities typically lead to successful and amicable resolution, beneficial to all involved. 
  • Only in case such a resolution can not be found, the 14 day arbitration period commences. You and the seller are required to start dispute resolution with a third-party arbitrator. The arbitration process is administered by arbitrators from American Arbitration Association, JAMS Arbitration, or net-ARB.com and follows their arbitration rules for final settlement

Escrow.com has added PayPal as part of our premier payment options.

A Buyer can send funds from their PayPal account by choosing the PayPal option on the transaction screen. This offers the convenience of PayPal with the protection of Escrow.com. Either the Buyer or Seller must have completed a transaction before and the transaction amount must be less than $5000 USD in order to use the PayPal option. The transaction must also be in US Dollars and, where applicable, online trackable shipping must be used to track delivery of the goods.

please see all details here 

Escrow.com only accepts credit card and PayPal payments for Premier Service transactions. Please note that Premier Service transactions are limited to a maximum 5000 USD/AUD/EUR/GBP (per all active transactions). In addition, Escrow.com has strict policies governing the acceptance of credit card and PayPal payments. 

please see all details here

While most transactions are completed within 1 to 20 business days, transaction timelines are still unique to each transaction and depend on the steps below. 

please see all details  here

Benefits to you

When making purchases like used machine  tools online, it is hard to be certain that you’re getting what you pay for. While confusion can arise based on innocent misunderstandings, there are also occasions when serious disputes arise. Our process, led by Escrow.com, removes all such uncertainties. Shipping and delivery are tracked by Escrow.com throughout the process and funds are released to the seller only once you have satisfactorily received the machine.

Please  refer for more details on this world class service to https://www.escrow.com or visit the official Escrow Helpdesk or, contact support@escrow.com.