Silk Road forums

Discussion => Newbie discussion => Topic started by: omegaflarex on August 06, 2013, 05:02 pm

Title: Release the fund?
Post by: omegaflarex on August 06, 2013, 05:02 pm
As a standard rule, I do not release the fund from the Escrow until I get my package, or it's beyond 10 days which the Escrow will automatically credit to the seller/vendor. Unless we're in a dispute.

Is that the gist? LMK.
Title: Re: Release the fund?
Post by: amp4216 on August 06, 2013, 05:23 pm
i thought it was 17 days until it is automatically released. And if you still haven't received your package you can extend the time. Unless you are finalizing early, you are not supposed to release funds until you receive your package :)
Title: Re: Release the fund?
Post by: mcguire39 on August 06, 2013, 05:27 pm
The gist is that it is a degree of protection for the buyer. So if the vendor does not ship the order or cannot produce tracking information, typically the buyer can get that BTC back through resolution. Once you finalize the order, that's it, you will never get any BTC refunded if you don't get the product. It's not necessarily perfect protection though, sometimes selective scamming results in empty boxes being shipped, or tracking info going to the same city as your delivery address but that was not actually your package.

For a trusted vendor or if you are willing to accept the risk you can finalize early. I think that's a nice thing to do in the right circumstances because it helps the vendor's cash flow, because it's a very real amount of capital a vendor has tied up awaiting finalizations at any given time. For smaller vendors that might mean an inability to restock from time to time.

For your buyer stats, it's better to never let an order auto finalize, because vendors can see your AF stats, and usually vendors don't like buyers who have high amount of AF. And rightfully so, it can add one or two weeks to the amount of time it takes them to get the money.
Title: Re: Release the fund?
Post by: amp4216 on August 06, 2013, 05:29 pm
The gist is that it is a degree of protection for the buyer. So if the vendor does not ship the order or cannot produce tracking information, typically the buyer can get that BTC back through resolution. Once you finalize the order, that's it, you will never get any BTC refunded if you don't get the product. It's not necessarily perfect protection though, sometimes selective scamming results in empty boxes being shipped, or tracking info going to the same city as your delivery address but that was not actually your package.

Said it better than I could've, thanks
Title: Re: Release the fund?
Post by: NoQuarter_merchant on August 06, 2013, 05:47 pm
I think it's important to have good communication with the vendor.

Yes, that's the gist.  Except, it's 17 days.  Some times a vendor will require FE. 

For some of the items we sell, we require FE, due to the non-returnable nature.  Also, things are out of our control once shipped... some people don't want to deal with the headaches.  It's a double edged sword.

For example, if a vendor requires FE, that vendor will most likely get less sales, but he will also have less hassle from customers who he's built a relationship with.  (wrong addresses, scammers, etc...)
Title: Re: Release the fund?
Post by: omegaflarex on August 06, 2013, 07:02 pm
Ah, ok. By the way, what does FE means? Federal Express?

Nevermind, its Finalized Early.
Title: Re: Release the fund?
Post by: mcguire39 on August 06, 2013, 07:14 pm
Generally on SR, FE means finalize early, that is, finalize the order before receipt of product.