How Siam Escrow Works
Siam Escrow is designed to simplify and secure cross-border transactions by acting as a neutral third-party intermediary between buyers and sellers. Below is a step-by-step guide to how our service works:
Account Registration
Creating an account with Siam Escrow is quick and straightforward. Follow our easy steps to get started today!
Create an Account Both buyers and sellers must register on the Siam Escrow platform, providing basic details like name, email, and phone number.
Complete KYC Verification Depending on your transaction level, additional documents such as government-issued ID, proof of address, or a selfie with your ID may be required.
Effortlessly Set Up Your Transaction with Our User-Friendly App
Agreement Formation : The buyer and seller agree on the terms of the transaction, including:
- Purchase price
- Delivery timeline
- Description of the goods or services
- Conditions for release of funds
Escrow Contract: The terms are recorded on Siam Escrow’s platform, forming the basis of the escrow contract.
How to Deposit Funds into Escrow
Buyer deposit funds and initiates the transaction process, ensuring a smooth and secure exchange of value between parties involved.
Cryptocurrency Payments: The buyer transfers funds in cryptocurrency, which are immediately converted to a stablecoin to prevent value fluctuations.
Credit Card Payments: The buyer pays via credit card, and the amount is converted to stablecoins.
**Funds Held in Escrow: Siam Escrow securely holds the funds until all transaction conditions are met.
Sellers Are Notified and Fulfill Transactions
Once a transaction is initiated, sellers receive instant notifications. This ensures they can promptly fulfill their obligations.
Instant Alerts Sellers are alerted through email and app notifications for seamless transaction management.
Tracking and Updates Sellers can update the buyer on the shipment or delivery status through the Siam Escrow platform.
Buyer Confirmation and Fund Release Process
Buyer Confirms Receipt: Upon receiving the goods or services, the buyer logs into the platform to confirm that all terms of the transaction were met.
Funds Released to Seller: Once confirmation is provided, Siam Escrow releases the funds to the seller..
Dispute Resolution (if necessary)
Our dispute resolution process is designed to be straightforward and effective. We prioritize your satisfaction and aim to resolve issues promptly.
Raise a Dispute: If the buyer believes the terms were not met, they can initiate a dispute through the platform.
Mediation by Siam Escrow:
- Siam Escrow reviews the terms of the agreement and evidence from both parties.
- Funds remain in escrow until a resolution is reached.
Binding Decision: Decisions made by Siam Escrow are final and binding, in accordance with Thai laws.
Additional Feature
Stablecoin Conversion
Customizable Contracts
Fee Transparency
Prohibited Transactions
- Illegal drugs or narcotics.
- Child exploitation materials.
- Terrorist funding.
- Prohibited parties or nations (e.g., Iran, North Korea).
- Transactions involving Thai-based buyers or sellers.
Why Choose Siam Escrow?
Neutral Third Party
We do not influence or judge the nature of your transactions but ensure that all agreements are enforced.
Global Reach
Facilitate transactions with parties across continents while complying with international and local regulations.
High Security
Funds are held in secure accounts, and user data is protected through advanced encryption.
Compliance Assurance
Adheres to Thai laws while ensuring buyers and sellers verify their local compliance.
With Siam Escrow, buyers and sellers can transact with confidence, knowing their funds and agreements are secure. For further questions, visit our FAQ section or contact our support team.