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What is Escrow?
Web definition for Escrow:
The holding of funds, documents, securities, or other
property by an impartial third party for the other two
participants in a business transaction. When the
transaction is completed, the escrow agent releases the
entrusted property |
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Who is NPV Escrow
Services?
The owners of NPV Escrow Services have been in the
business of buying and selling new and used broadcast,
professional and industrial video and audio equipment
since 1992 and have extensive experience with all
aspects of buying selling and shipping of Professional
Broadcast Video and Audio Equipment. |
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Why
should I use NPV Escrow Services?
NPV Escrow Services protects both the Buyer and Seller
during the course of a sale, because payment is not
released until the item has been received, inspected and
accepted.
Visit the How it works here. |
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How does NPV Escrow Services, Inc. protect against
fraud?
NPV Escrow Services, Inc. takes several steps to protect
both the Buyer and Seller against fraud: 1) all payments
by the Buyer are verified as "good funds" before the
Seller is instructed to ship, 2) all shipments are
tracked to ensure the Seller shipped and the Buyer
received the equipment, and 3) if the equipment is not
as it was represented, it gives the Buyer the chance to
return the equipment before payment is released to the
Seller |
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Does NPV Escrow Services allow International
Transactions?
Yes. All payments are in US dollars.
When transferring funds choose the US Dollar currency.
Your local bank or financial institution should handle
currency exchanges and give you exchange rates for that
day. |
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California Residents
While we are in the process of applying for our California Escrow Agent License from the State of California please be aware that we are unable to offer or otherwise provide escrow services to California Residents. While our application for licensure under the Escrow Law for the State of California is pending be aware that we are unable to offer or otherwise provide escrow services to California Residents We are also not permitted to offer or provide escrow services to California residents until we have received in our office the California Escrow Agents License as required by the State of California. |
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Who is responsible for taxes, customs, and duties?
Typically the buyer pays all fees pertaining to shipping
however this also can be negotiated between the buyer
and the seller. |
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How do I contact NPV Escrow Services to get my questions
answered?
Click here for our Contact
information
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How do I
start an escrow transaction?
If this is your first time first you will need to
register. After you have
registered simply login to your account and follow the
instructions from the home page. You will need the name,
email address, and ship to address of the other party in
your transaction.
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Who can start a
transaction?
Either the Seller or Buyer may start a transaction.
Click thru to start a new transaction
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Who pays
the fees?
Generally the Buyer submits the fees along with the
payment but the fees can be split between the buyer and
seller. This is something the buyer and seller must
negotiate among themselves.
Click thru to fee calculator
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What forms of Payment Does NPV Escrow Services Accept?
NPV Escrow Services accepts wire transfers, electronic
checks (Electronic checks must be a $200.00 minimum and must not exceed $1,000.00 maximum), personal and company checks
from the buyer, along with Visa, Master Card, American
Express, and Discover (Credit Cards are subject to
approval, $5,000.00 limit). Payments made on-line are
protected via SSL to encrypt your information when you
send it to us. |
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What
does escrow cost?
Escrows fees are based on the amount of the
transaction. The fees are a percentage of the sale
amount plus shipping.
Buyer and Seller agree as to who will pay Escrow fees.
Escrow fees can be split between buyer and seller. Below you will find the fees listes as well as a fee calculator:
Sellers have several choices for receiving payment.
(Sellers please note there are service fees associated
with credit card and wire transfers 2.5% of agreed
purchase price for credit card and 1.8% per electronic
check) see the how it works page.
NPV Escrow Services, Inc. will only accept cleared US
funds and will not consider International Credit cards
or any form of cashier's checks or money orders as a
form of payment.
International buyers in order to expedite your
transaction it is recommended to pay by wire transfer.
In most cases there are fees associated with wire
transfers. Please consult with your bank or financial
institution about any fees associated with your wire
prior to sending funds. It is imperative we receive the
full amount of the agreed purchase price prior to our
contacting the seller to ship.
Processing times:
Wire Transfer: Upon Verification of cleared funds.
Company & Personal Checks: 10 bank days. US Only
Credit Card: 3 days US Only
Electronic Check ($200.00 Minimum): 1 Day
| Fee Structure
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Transaction Amount |
Fee |
- $0-$5,000.00
- $5,001-$15,000
- $15,001-$25,000
- $25,001 +
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- 3.25% ($25.00 minimum)
- $160.00 + .25% of amount over $5,001
- $178.00 + .20% of amount over
$15,001
- .90%
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How do I make a
wire transfer?
Click here for
forms of payment. |
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Is registration required?
Yes, registration is required to participate in an
online escrow transaction. If a party in a transaction
isn't registered, he will have the opportunity to sign
up during the first stage of the escrow process.
Click thru to registration
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How do I
register?
Click here to register.
Registration is quick, easy, and free! |
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What if I lose my login?
Click here to have your
username and password sent to your e-mail address.
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What
happens next?
After submitting a new transaction, both parties will
receive a confirmation e-mail with further instructions
and access to their Status page. |
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When does
the Buyer submit payment?
The Buyer submits payment once he receives access to the
Status page. From the Status page you will find the
total amount due and payment instructions. |
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How
quickly are all payments processed?
Wire Transfers and Electronic Checks: It depends upon
your financial institution; some require a few hours or
even a few days before they can wire funds. We process
wire transfers each business day.
Credit Cards: Payments with credit cards are processed
after receipt of NPV Escrow Services, Inc.'s fax in
authorization form, usually within 2 business days.
Checks: Checks are not approved until ten banking days
after NPV Escrow Services, Inc. receives the payment.
NPV Escrow Services, Inc. does not accept any type of
check over $2,000.00 when drawn from a bank outside of
the United States. |
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When is my
credit card charged?
Before the Seller sends the Buyer any item, NPV Escrow
Services, Inc. must have the funds in its escrow
account. After receipt of the credit card charge
authorization form, your credit card is charged the
purchase amount plus any escrow and or shipping fees you
have agreed to pay. Remember that this charge is
deposited into our escrow account and not given to the
Seller.
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What are payment profiles and transaction summary pages?
Payment profiles are information about your credit card
or banking accounts you can save as part of your user
profile for transactions on NPV Escrow Services, Inc.
For payments, you can store Discover, Visa, MasterCard
and American Express credit card information.
For receiving payments, you can store Wire Transfer and
Electronic Check information. This allows us to send
your payment quicker than by paper check. |
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How long does
the process take?
After NPV Escrow Services has received payment from the
Buyer, the Seller has a maximum of 10 business days to
ship the item or payment will be refunded to the Buyer
less processing fees. |
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How do I ship the
equipment?
Click here for the shipping
instructions |
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Who are the
preferred shippers?
If you do use a company not on our list of preferred
shippers, please contact our Customer Support with the
shipping company's contact information so we can confirm
the shipment was delivered.
Please note: failure to use a company with an on-line
tracking method on shipments may delay payment of funds
at the close of the transaction.
http://www.fedex.com
http://www.ups.com
http://www.usps.com
http://www.dhl.com
Note: If you plan to utilize another shipper it
is necessary we are contacted and given the bill of
lading and company information so we may track the
shipment. |
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Should I insure
the shipment?
Yes! All shipments, domestic and international, should
be insured for the item's full value. Failure to insure
the item for its full value means you are liable for any
damage to the equipment or in the event the shipment is
lost. The shipper must insure the shipment when
shipping. |
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What if the items are damaged during shipping?
In the event you receive damaged equipment, the receiver
(buyer or seller) should first log onto NPV Escrow,
Services, Inc. and mark the equipment as "received" and
"reject." Next, the receiver must immediately report the
damage to the shipping company, and to the sender. This
is because some shipping companies have a time
restriction within which such a claim can be filed for
compensation. Please consult your shipping company's
procedures on damaged shipments.
If the equipment was insured, and a claim filed within
the required timeframe, the compensation may include the
shipping cost. NPV Escrow Services, Inc. will continue
to protect the funds in escrow until this is resolved.
Please be aware that the receiver of damaged equipment
should not re-ship the item as this will, in most cases,
void the ability to file a shipping claim. |
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When does
the Seller ship the items?
When NPV Escrow Services, Inc. has confirmed cleared
funds we will contact the seller to ship. |
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When will
the Buyer receive the item?
The Seller has 5 business days to
ship the item |
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What if the Seller does not ship the items?
Your funds will not be released to the Seller until you
have received and approved the items you are purchasing.
This eliminates the concern for non-shipment of goods. |
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What is an inspection period, when does it start, and
how long does it last?
The inspection period is the amount of time the buyer
has to inspect the equipment; however standard time is
72 hours. The amount of time selected is negotiated
between the buyer and seller. The inspection period
starts when NPV Escrow Services, Inc. confirms the
shipment has been received. Arrival of the shipment to
the buyer' address is confirmed through the shipping
company's tracking number or when the buyer marks the
equipment as received. Once the inspection period
begins, the Buyer must accept or reject the goods within
the agreed inspection time period.
When the Buyer rejects the equipment the buyer needs to
ship the equipment back to the seller within 3 business
days and send the shipping information to NPV Escrow
Services, Inc... It is the buyer's responsibility to
repackage the equipment properly to avoid any damage
during shipping. The Seller then has 5 days to examine
the equipment after it is returned.
Buyers and Sellers should make sure the inspection
period provides adequate time for any authentication or
pre-sale check-out process with an engineer that may be
necessary. |
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What if the Buyer forgets to accept or decline the items
on-line at NPV Escrow Services, Inc.?
NPV Escrow Services, Inc. will release funds
automatically to the Seller at the end of the inspection
period, as long as the Buyer has not declined the items
and NPV Escrow Services, Inc. has verified the buyer's
receipt.
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How do Sellers get paid?
NPV Escrow Services, Inc. releases funds to the Seller
once the inspection period has passed without the Buyer
requesting cancellation of the transaction and upon NPV
Escrow Services, Inc. verification of the transaction
information. The inspection period is agreed to by both
the Buyer and the Seller and commences once the Buyer
has received the equipment. In most cases, checks are
sent to the Seller, but Sellers can select other payment
methods, such as wire transfer or electronic check.
Funds are released to the seller the same or next
business day after completion of the transaction and
upon verification by NPV Escrow Services, Inc. Payment
fees can be found at How it Works.
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How long does it take for Sellers to be paid?
When the Buyer accepts the equipment, the Seller will be
paid. NPV Escrow Services, Inc. will disburse the funds
to Seller in the method the Seller selected at the
beginning of the transaction.
Funds are disbursed the same or next business day
following the completion of the transaction. Wire
Transfers and checks sent by express delivery are sent
within 1 business day, electronic checks are completed
within 2 business days, and checks sent by the USPS are
dependent on where the check is sent (domestic versus
international).
Sellers should use a shipping company that allows
on-line tracking to ensure quick release of funds at the
close of the transaction.
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What if the Buyer and the Seller have a dispute and can
not come to an agreement?
If the Buyer and Seller can not resolve their
dispute within 45 days, the buyer and seller are
required to go to dispute resolution - an arbitration
process administered by the
American Arbitration Association in accordance with
the provisions of its Commercial Arbitration Rules. (See Purchase
agreement)
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Canceling and or Changing of Transactions
How do Buyers or Sellers cancel transactions?
Prior to agreement of terms by both parties, the Buyer
or Seller can cancel the transaction by clicking the
cancel button on the transaction detail screen. Once
both parties have confirmed transaction details in the
Agreement phase, either party may cancel the
transaction, only if Buyer has not delivered payment, by
sending an e-mail request to any of us here at NPV
Escrow Services, Inc. After funds are secured, the
cancellation of a transaction can only be done by NPV
Escrow Services, Inc. after notifying both parties.
The Buyer may reject the transaction during the
inspection period after receiving the items, but the
Buyer is still responsible for shipping the equipment
back to the Seller, and for paying any escrow fees.
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