Overview of how to use an escrow service when doing a .eu domain name trade
The whole process of trading a domain name from us to you is very simmilar to the process described here, but it has some additional steps. In order to make it perfectly clear, you will find the complete process on this page.
Step 1: contact us
It's prety obvious, but still, the first step is to contact us to make an offer for the domain name that you would like to acquire.
Step 2: agree on price
We will then come to an agreement on price via email discussion. The agreed price is always excluding value added tax (VAT) and transaction cost.
Step 3: we send an invoice
We will then send you an invoice for your records. This will be an official invoice from our company to yours. If your company is located in Belgium, you will be invoiced the agreed price plus 21% VAT. If your company is located in Europe but outside Belgium, you will receive a 0% VAT invoice in which case you should pay VAT in your own country. If your organisation is not VAT liable or you are a private individual, you will receive an invoice with the agreed price plus 21% VAT, regardless if you live in Belgium or somewhere else in Europe.
Step 4: you initiate the trade
You should contact your hosting provider and ask to initiate the TRADE of the domain name. Make shure they understand that they should initiate a trade and not a transfer as this is a common mistake often made. In a transfer, the domain name will be moved to your hosting provider, but we will remain the owner. In a trade the domain name will both move to your hosting provider AND change ownership from us to you. So make sure they initiate a TRADE at Eurid.
Step 5: Open an escrow account
On the same day as you initiate the trade you should open an escrow account, preferably at www.escrow.com. You should provide all the details of the trade, such as our email address en contact data, the domain name which it is regarding and the agreed price (including VAT if applicable). They will provide you with a from to complete so you cannot make any mistakes here.
Step 6: agree to escrow terms
Escrow.com will send you and us an email explaining the details of the transaction and asking both parties to confirm that we agree.
Step 7: you pay escrow.com
When escrow.com has received confirmation that we both agree with the terms, you will get an email from them asking you to pay the amount to escrow.com. Please mind that there will be an aditional fee that you will have to pay to Escrow.com as a commission. Their fee is somewhere between 0,9 for large amounts to 3.5% for smaller amounts, with a minimum of 25 USD. You will be notified of the fee when creating your account so there will be no surprises.
Step 8: escrow.com will notify us of payment received
Escrow.com will confirm that they have received full payment and will instruct us to confirm the trade.
Step 9: confirm the trade
Both you and we will get an email from Eurid, the organisation distributing the .eu domain names, asking us to confirm the trade of the domain name by clicking on a link. You can do this as soon as you receive the email. We can do this when escrow.com has confirmed that they have received the sale amount is in their account.
Step 10: you confirm receiving the domain to escrow.com
Once you have received confirmation of Eurid that the domain name is yours, you should confirm to escrow.com that you are now the official owner of the domain name. They will verify this in the .eu whois at Eurid. Once verified, they will release the money to us and the transaction is completed.
Closing
That's it. The domain name is yours. You then can start a website at your hosting provider. The whole process takes much longer than dealing directly with each other (can take up to 2 or 3 weeks) and will cost extra, but it is 100% secure and will give you peace of mind. The choice of using an escrow service is yours. We prefer direct contact, because it's faster, but using escrow.com is fine with us either.
We will work with you to get the domain name to you as fast as possible. As a sign of good will, we can temporarilly redirect the domain name to your website, once we agree on the price.
Please contact us now to make on offer on the domain name you would like.
Step 1: contact us
It's prety obvious, but still, the first step is to contact us to make an offer for the domain name that you would like to acquire.
Step 2: agree on price
We will then come to an agreement on price via email discussion. The agreed price is always excluding value added tax (VAT) and transaction cost.
Step 3: we send an invoice
We will then send you an invoice for your records. This will be an official invoice from our company to yours. If your company is located in Belgium, you will be invoiced the agreed price plus 21% VAT. If your company is located in Europe but outside Belgium, you will receive a 0% VAT invoice in which case you should pay VAT in your own country. If your organisation is not VAT liable or you are a private individual, you will receive an invoice with the agreed price plus 21% VAT, regardless if you live in Belgium or somewhere else in Europe.
Step 4: you initiate the trade
You should contact your hosting provider and ask to initiate the TRADE of the domain name. Make shure they understand that they should initiate a trade and not a transfer as this is a common mistake often made. In a transfer, the domain name will be moved to your hosting provider, but we will remain the owner. In a trade the domain name will both move to your hosting provider AND change ownership from us to you. So make sure they initiate a TRADE at Eurid.
Step 5: Open an escrow account
On the same day as you initiate the trade you should open an escrow account, preferably at www.escrow.com. You should provide all the details of the trade, such as our email address en contact data, the domain name which it is regarding and the agreed price (including VAT if applicable). They will provide you with a from to complete so you cannot make any mistakes here.
Step 6: agree to escrow terms
Escrow.com will send you and us an email explaining the details of the transaction and asking both parties to confirm that we agree.
Step 7: you pay escrow.com
When escrow.com has received confirmation that we both agree with the terms, you will get an email from them asking you to pay the amount to escrow.com. Please mind that there will be an aditional fee that you will have to pay to Escrow.com as a commission. Their fee is somewhere between 0,9 for large amounts to 3.5% for smaller amounts, with a minimum of 25 USD. You will be notified of the fee when creating your account so there will be no surprises.
Step 8: escrow.com will notify us of payment received
Escrow.com will confirm that they have received full payment and will instruct us to confirm the trade.
Step 9: confirm the trade
Both you and we will get an email from Eurid, the organisation distributing the .eu domain names, asking us to confirm the trade of the domain name by clicking on a link. You can do this as soon as you receive the email. We can do this when escrow.com has confirmed that they have received the sale amount is in their account.
Step 10: you confirm receiving the domain to escrow.com
Once you have received confirmation of Eurid that the domain name is yours, you should confirm to escrow.com that you are now the official owner of the domain name. They will verify this in the .eu whois at Eurid. Once verified, they will release the money to us and the transaction is completed.
Closing
That's it. The domain name is yours. You then can start a website at your hosting provider. The whole process takes much longer than dealing directly with each other (can take up to 2 or 3 weeks) and will cost extra, but it is 100% secure and will give you peace of mind. The choice of using an escrow service is yours. We prefer direct contact, because it's faster, but using escrow.com is fine with us either.
We will work with you to get the domain name to you as fast as possible. As a sign of good will, we can temporarilly redirect the domain name to your website, once we agree on the price.
Please contact us now to make on offer on the domain name you would like.
