Waffy protects both parties by holding the funds and separating payment from delivery until the transaction conditions are met.
Holding the Funds in a Separate Escrow Account
- The funds are held in an escrow account as soon as the buyer completes the payment.
- The funds are not released to the seller until the transaction conditions are met.
Inspection Period Before Releasing the Funds
- Accept or reject the product during the inspection period specified in the transaction.
- The funds are automatically released to the seller when the inspection period ends without a response from the buyer.
Neutral Dispute Resolution Team
- Tap the Escalation icon in the transaction if a dispute arises.
- The Dispute Resolution Team contacts both parties within 24 hours of the escalation.
- Provide the requested documents within the timeframe specified by the team.
- The team issues a binding decision within 7 business days after the escalation is closed.
The funds remain protected throughout these stages until each party receives what they are entitled to.