.............

Escrow Service Example
Posted Project

• This Example begins when a Buyer posts a project with the title, “Would like to monitor VOIP for IP and Convergence.”
• After the buyer posts the project in the TelecomMentor market place, it will appear as shown below. 

Bidding on the Project

• After the buyer selects Escrow Service, the E symbol will be displayed for projects with Escrow Service.
• The Provider places a bid of $100 for the project.
• The Buyer awards the project to the Provider and awaits acceptance by the Provider.
• The Provider accepts the project.

Account Summary

• TelecomMentor emails the Buyer that the Provider accepts the project.
• TelecomMentor emails the Buyer and Provider contact information such as email addresses.
• The Buyer must pay Escrow for the Provider to begin work on the project.
• By paying Escrow, funds are secure with TelecomMentor Escrow Service and the Provider has confidence to begin the project.
• To pay Escrow, there must be sufficient funds in the Telecommentor Online Account.
• To learn how to Deposit funds, please click How to Use TelecomMentor. 

Project Buying Activity

Selecting the Payment Method

• The Buyer selects the Payment Method from the available Pull Down Menu.
• If the Buyer has funded the Online Account, the option to pay with the Online Account will become available.
• To learn how to Deposit funds, please select How to Use TelecomMentor.
• By clicking Invoice, the below pop up will appear.

• The Secure Payment Preview screen displays the:
•  Invoice Description
• Amount Paid
• Method of Payment Used

• The Buyer must now authorize the payment by checking the box provided, and proceeding with the payment, as shown below:

 

Service Escrow Buying Activity

• The Buyer transfers funds into  the  TelecomMentor Escrow Account, from My Control Panel (MYCP).
• The Service Buyer’s buying activity will show the updated Escrow status.

Provider Account Summary

• The Provider’s Account Summary will show the updated Escrow status, as shown below:
• Before beginning the project, the Online Account for the Provider, is updated, as shown below.

Provider Service Escrow Selling Activity

The Selling Activity for the Provider appears below.

Service Escrow Buying Activity

• The Provider may begin working on the project since the Buyer has shown interest and has deposited funds in the TelecomMentor Escrow Service.
• When the Provider completes the project, he is ready for payment.
• The Buyer must release funds from the Service Escrow Tab.

Provider Account Summary

• The Provider’s Account Summary will be updated as shown below.
• TelecomMentor deducts 5% from every project that uses TelecomMentor Escrow Service.
•  The Provider receives $95 and TelecomMentor receives $5.

Buyer Account Summary

The Online Account for the Buyer will be updated, as shown below.

Provider Service Escrow Selling Activity

The Provider’s Service Escrow will appear as below.

Buyer Service Escrow  Buying Activity

The Service Escrow Activity Tab shows this information.