The contract is negotiated between the Diaspora Endorsed Standards DES registered business and a Diaspora customer or Consumer, covering the service to be carried out, associated costings and what would trigger payments referred to as staged payments. These details and contract are entered on the Protataweb-form and a schedule of payments and dates are agreed by both parties.Once the escrow proposal has been agreed and the monies transferred, both parties are protected.Protata Solutions Limited charges only 3% for the transaction and protection.
The customer knows their money is completely safe, right up to the point that they are totally satisfied with the completed work, at which point funds are released to the DES registered Business.
You can be sure you will only pay what was agreed, at the appropriate time and only when you are happy with the work that has been carried out.
Escrow combats the problem of Businesses being unfairly ‘out of pocket’ on completion of jobs and contracts by securing the funds at the beginning of the project in a separate account, only releasing funds when the works have been completed to the standards outlined in the original contract.