1. Both yourself and the Dealer agree to use Escrow Account for the transaction.
2. You send your final balance (the Escrow Account payment) to the Escrow Account Administrator.
3. The Dealer receives confirmation from the Escrow Account Administrator that payment has been received into the Escrow Account.
4. You (or a representative) check the car and paperwork at the suppliers premises and confirm it's ready to collect. Then, and only then, are the funds sent by the Escrow Account Administrator to the suppliers bank account and the transaction is completed.
However, if you wish to use your own Escrow Agent, this should not be a problem. Here are some suggestions on a few independent Escrow Account Administrators which you can use for your Escrow Account transaction.
How Much Does It Cost?
The charge for this service is just EUR250.