Escrow Service for Cars, Boats, RV's, Trucks, and more
Escrow refers to the third party escrow service that is used when the sale and purchase of an auto is carried out, which may include a car, boat, motorcycle, truck or other vehicle that moves with the assistance of an engine.
Once a purchaser has found the auto that they wish to purchase they will enlist the services of BDP Logistics, who will draw up terms that both parties will agree to. These terms will include, but are not limited to, the make and model of the auto, price, condition and will also list details of a cooling off period which will give the purchaser the opportunity to ensure there are no undisclosed faults with the auto before funds are released to the seller.
Once both parties have agreed to the terms set by BDP Logistics, the purchaser will transfer the appropriate funds using a secure online facility set up by BDP Logistics where it will remain until the seller fulfills their obligations surrounding the sale.
Once the payment is confirmed by BDP Logistics, we dispatch the goods to the purchaser along with all relevant documentation surrounding the registration of the auto. The buyer has an agreed time limit to examine the auto and check that everything is in the condition that was promised when the terms of escrow were documented. There is an opportunity to reject the auto at this stage if any elements are not in order as initially agreed, as per EU Law.(European directive 2011/83)
If the purchaser is satisfied that the auto is in the condition that they agreed to when it was purchased, BDP Logistics will release the funds to the vendor and the transaction will be completed. There is a large element of risk involved on the parts of both the buyer and seller when carrying out auto transactions, and the BDP LOGISTICS Escrow Service eliminates these risks entirely.