@Nimo
Escrow processThere are several aspects of the Escrow process that are unclear to me, Nimo. I know you are currently searching for a suitable escrow provider, so you still have enough time to set everything up correctly.
I came into contact with escrow.com, about a different issue, but they seem to be very flexible and eager to get their hands on an accompanying fee, of course
Please let me know how YOU imagine the escrow process stages will happen.
What I imagine:
1. You send out invoices under your LLC inviting everyone to sign in (to an escrow) as a buyer, with you as the sole seller.
2. The escrow will collect into their account according to your issued invoices, in a set timeframe.
(I got in touch with escrow.com about the issue - how long can an escrow operation stay open. Their answer was for 3 years, afterwards, they will charge some extra fees.)
3. You check if all the amounts were paid in full.
... but then what???
The options on a typical escrow are to hold the funds until the buyers receives the goods. Then there is a set of options that can follow, release the funds to you when:
a) shipping documents (of DHL, or which ever courier) are transfered to the escrow
b) the buyer receives the goods and has a certain amount of time to inturn inform the escrow that everything in order and they then release the funds to you.
I also imagine, that you won't fork out 2500x700 units out of your own pocket just waiting for the the payments to arrive (or not to arrive).
I also guess there will be some duds or bad units inside the batch, that will fail during testing, etc., and you could thereby get stuck dealing with a) some returns and b) declined (unreleased) funds by the escrow.
Am not sure if you thought this whole thing through. Or maybe you have and are simply waiting what the escrow says and how we, as a group will than react to the news.
take care
Jan