Many online transactions involve a broker who acts as a middleman between a buyer and a seller. In such situations, the issue of trust arises just like in other transactions. Escrow Kenya's broker escrow service addresses this trust issue by securing the transaction on behalf of the three transacting parties and administrating any dispute that may arise. The buyer's payment, seller's payout and broker's commission is secured

How it works

1. Agree to the terms of the sale and register:- All three parties will need to have an account on the website. It is as simple and straightforward; just provide your name, email address and phone number, set a password and you are good to go.
2. Broker creates the escrow transaction:- The broker creates the transaction by filling out the terms of the sale, including: a description of the item that is subject to the sale, the price, delivery date, who pays the escrow fees and the broker's commission. An invitation is sent to the buyer's and seller's account via their registered email address.

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   The buyer will not be able to view the seller's contact information – and similarly for the seller – until payment is made into escrow.

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3. Buyer makes payment:- Upon receiving and accepting the invitation, the buyer makes payment to Escrow Kenya. This can be done either via M-Pesa, Pesalink, or wire transfer etc. Once the funds are deposited, the balance is held in both the buyer's and seller's escrow accounts. Similarly, the broker's commission is held in their account.

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   The buyer's and seller's contact details are revealed at this point, such that the two parties can communicate and trade directly. The broker may now sit back and wait for their commission to be released when the order is completed, or assist the two parties to complete the sale successfully.

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4. Delivery and acceptance:- Once funds are received in escrow, an email and sms notification is sent to all three parties. The seller is given the go-ahead to fulfill the order. Upon receipt of the item, the buyer inspects it and if it fits the description, approves the release of funds from escrow by clicking an “Approve Order” button that appears in their account.
5. Escrow release:- The price, less broker's commission is made available for withdrawal in the seller's account, while the broker commission is similarly availed in the broker's account. This brings the escrow transaction to an end.

In case there is a dispute, we help the parties resolve it in accordance with our dispute resolution procedures.

1. It enhances trust:- In a transaction that involves three strangers online, trust is a huge issue and broker escrow fixes it perfectly for all three parties.
2. Builds credibility:- As a broker, you have to be credible for a buyer and a seller to trust you with their money and goods respectively. Using broker escrow helps you win that credibility instantly.
3. Simplifies the sale process:- A broker can sit back and conduct a transaction via escrow without having to meet the buyer and seller physically.
4. Broker's commission is guaranteed:- Escrow Kenya holds the funds in trust and releases them to the seller and broker individually. A broker doesn't have to go through the hassle of following up with the buyer/seller to be paid the agreed commission.

Our low fees of 3% (general goods and services) or 1.5% (motor vehicles) enable you to transact confidently with anyone, anywhere in Kenya and beyond. The escrow fee payment options allow a lot more flexibility, as the fee can be borne by the buyer, seller, broker, or shared between the buyer and seller. Furthermore, all escrow fees are capped at KES 15,000.