Product | Outward | A payment service that protects

Secure your payments with Outward's escrow service

All escrow payments are held by Escrow Services Trust (EST), a seperate entity to Outward Limited. EST is a fiduciary arrangment that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries (in this case you the users of the escrow service).

Escrowed funds held by EST cannot be used for any purpose other than being transferred to the seller or back to the buyer. Management of escrowed funds held by EST are governed by Outward's Terms of Use and the Escrow Services Trust Deed.

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Outward provides confidence at every step

Outward's trade management platform is easy to use and helps your business create transactions with confidence and security whilst also reducing your administration time and effort.

Less Trading Risk

Provides assurance that the funds are available to pay the seller, and are not released until the goods have been shipped, or delivered.

Single Point of Truth

A fully auditable and transparent process of each party's actions as they happen.

Reducing Cost

A simple and transparent fee structure, which in most cases is cheaper than a bank Letter of Credit - and much more secure.

Simple 5-step process

Create a trade

A buyer and seller enter trade details, including payment milestones and release conditions.

Escrow payments made

The buyer makes payments either direct or to escrow, and both parties are notified once funds have been received.

Funds held in escrow account

Escrowed funds are held in a secure trust account, seperate from Outward for the benefit and protection of users.

Trade documents agreed and goods shipped

The seller is then able to: prepare the goods for shipment; produce the required documentation; have them approved by the buyer; and ship the goods safe in the knowledge the funds are secure.

Funds released

Once the release conditions have been met the funds are released to the seller. If they are not met the funds are released back to the buyer.

Create a Trade

A buyer and a seller enter trade details, including payment milestones and release conditions.

For international trades how does Outward compare to a bank letter of credit?

Importer

Does not require a credit facility, or credit check

Your payment is the security

Quicker to establish

Lower transaction costs

Reduced administration time

Exporter

A self-managed process for approving trade documents, similar to an open account transaction, but within a secure central platform

Reduces the risk of document discrepancies invalidating your payment guarantee after the goods have shipped

Is quicker to establish

Allows you to get your goods out the door and payment faster

Reduces your administration time and effort

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PRODUCT ABOUT

RESOURCES

FAQ Terms & Conditions Privacy Policy Escrow Services Trust Deed Risk Centre Video and tutorials

CONTACT

Outward Limited is a Registered Financial Service Provider under the Financial Services Providers (Registration and Dispute Resolution) Act 2008 – FSP Number FSP661811, and is also a member of an independent dispute resolution scheme operated by Financial Services Complaints Limited 'FSCL' who are approved by the Ministry of Consumer Affairs. Outward Limited complies with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. Outward Ltd is a limited company registered in New Zealand, NBNZ no. 9429042384236. Registered office Level 2, 29 Waterloo Road, Lower Hutt, 5010, New Zealand.