What is Secured Transactions?
Secured Transactionsis a service provided by 2wedm.com to ensure the safety of cross-border transactions between buyers and sellers.
Why Use Secured Transactions?
In cross-border transactions, there is a significant risk of fraud for both buyers and sellers, especially for high-value
machine tool trades. To address this issue, 2wedm.com has introduced the escrow service to ensure transaction security.
Can I Choose Not to UseSecured Transactions?
Yes, buyers and sellers can freely choose their preferred method of transaction, such as T/T or letter of credit, as long as
both parties agree. However, if fraud occurs, 2wedm.com will not bear any responsibility.
Basic Functions of Secured Transactions
- For Sellers: We guarantee that the payment for the machine tool sale will be received smoothly.
- For Buyers: We ensure the safety of your funds, guaranteeing that you will receive high-quality machine tools and enjoy
the warranty and after-sales rights specified in the contract.
Suitable Users for Secured Transactions
Escrow is suitable for 2wedm.com members engaging in cross-border transactions.
Secured Transactions Fee Rate
- Secured Transactions Fee = 5% of the contract amount borne by the seller
- The buyer does not bear any fees
Initiating and Processing Secured Transactions Transactions
1. Either the buyer or the seller can initiate the Secured Transactions
2. Upload the mutually agreed-upon contract and fill in the relevant remarks.
3. The buyer's funds will be escrowed with the 2wedm.com platform according to the contract, either in one lump sum or in installments.
4. Both parties proceed with shipping or payment according to the contract; the buyer receives the goods and enjoys the warranty,
and the seller receives the payment, completing the transaction.
