About Escrow

How escrow works for the homeowner

  • After signing a contract, you may fund the escrow account via bank transfer (ACH), wire transfer, credit card, or e-check.
  • Once the payment is received into escrow, the seller will be notified
  • You inspect the work and release the funds from escrow, or initiate a dispute to hold pyament, if necessary.

    • How escrow works for the contractor

  • The homeowner funds the escrow accounts
  • Your are notified when the buyers's payment has been received
  • The work is performed and upon completion, request a release of funds
  • The buyer receives this request releases the funds
  • You receive the funds directly into your account

    • Contractors Edge has partnered with Payoneer to provide secure online escrow payment protection for buyers and sellers

  • Reduced payment risk for both buyers and sellers
  • Simple transaction flow
  • Transparent and fair dispute resolution platform
  • Faster payout through Payoneer account

    • What is escrow payment

    Escrow payment reduces risks for buyers and sellers by using a trusted third party to hold funds from a buyer until goods have been delivered. Sellers can ship goods with confidence, knowing the buyer has paid, and buyers can be sure that the seller will not paid until they have received the goods. We have selected Payoneer Escrow for this service

    What is the fee for escrow?

    The escrow fee is based on the total value of the order, and will automatically be deducted from the funds held in escrow before they get released.

    Payment value Escrow Service
    For payments up to $5,000 1.5% of the payment value
    For payments between $5,000 and $50,000 $75 + 1% of the amount over $5,000
    For payments between $50,000 and $500,000 $525 + 0.75% of the amount over $50,000
    For payments between $500,000 and $1,000,000 $3,900 + 0.5% of the amount over $500,000
    For payments over $1,000,000 $6,400 + 0.35% of the amount over $1,000,000