LanceMonster.com Escrow Security Service is an option we offer to our users to enhance transaction confidence.

This service is optional and is typically initiated by the user posting a project.  During the posting process, the Employer (project poster) my elect to offer Escrow Security Service to bidders.  (If the service is not offered, the Service Provider (bidder) may still ask the Employer to use the service when submitting a bidding quote, making it part of the terms to start project work.)

If Escrow is elected to be used, then the Employer will have to post the full amount of the project budget into an Escrow account for project work to begin.  The amount of funds in the account is visible to both the Employer and Service Provider, and cannot be withdrawn back into the Employers user account once deposited.  Once the funds are deposited into the Escrow account, the Service Provider should then begin project work.  When the project is completed, the Employer then releases the funds to the Service Providers account for payment.

Offering this service is highly recommended as it will demonstrate the Employers commitment to the project, instilling trust and confidence in Service Providers.

For situations where the Service Provider does not complete project work or chooses not to do the project, of course we can refund the Escrow amount back to the Employers account.