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Wholesale Trade Revisited and Simplified with TRIO Alternative Payments.

Updated: Mar 15

Before we dive into our solution- let's review a few topics:

What are the benefits of using bank escrow services?

Using bank escrow services can provide several benefits, including:

1. Security: One of the primary benefits of using an escrow account is that it provides a secure means of completing transactions. The bank acts as a neutral third party, holding funds until all transaction conditions have been met. This helps to minimize the risk of fraud and ensures that both parties are protected. 2. Risk management: Using an escrow account allows the buyer and seller to manage their risk more effectively. The buyer can be sure that the funds will not be released until they are satisfied that all of the conditions of the transaction have been met, while the seller can be sure that they will receive payment once they have fulfilled their obligations. 3. Dispute resolution: If a dispute arises during the transaction, an escrow account can provide a mechanism for resolving the conflict. The bank can hold the funds until the debate has been resolved, which can help to prevent the dispute from escalating into a more serious legal or financial issue. 4. Simplified payment process: An escrow account can help simplify the payment process, particularly for large or complex transactions. The bank can handle all of the payment processing and documentation, which can help to streamline the process and reduce the administrative burden for all parties involved.

Overall, using bank escrow services can provide security and peace of mind for buyers and sellers while helping minimize the risks of completing large or complex transactions.

What are the risks of using bank escrow services?

While bank escrow services can be a valuable tool for managing risk and ensuring that transactions are completed securely, some risks are associated with their use. Here are some potential risks to consider:

1. Cost: As I mentioned later, banks typically charge a fee for escrow services. Depending on the specific transaction, the prices may be significant and could impact the overall cost of the trade. 2. Delay: Using an escrow account can add a layer of complexity to a transaction, which could result in delays. This could be particularly problematic if time is of the essence for the parties involved. 3. Fraud: While escrow accounts are designed to provide a secure means of completing transactions, there is always a risk of fraud. For example, a fraudulent seller could provide false documentation or other misleading information to the bank or the buyer, which could result in the release of funds to the seller before the transaction. 4. Default: Sometimes, one party may default on their obligations under the transaction. This could result in disputes over the release of funds from the escrow account, which could further delay the completion of the transaction. 5. Bankruptcy: If one of the parties involved in the transaction goes bankrupt, there could be complications related to releasing funds from the escrow account.

Do wholesale payments always include bank escrow services?

No, wholesale payments do not always include bank escrow services. Wholesale charges refer to transactions between businesses or other large entities and can take many forms depending on the specific needs and preferences of the parties involved. While bank escrow services can help manage risk and ensure that transactions are completed securely, they are not always necessary or appropriate for every wholesale payment transaction. For example, some wholesale payments may be made using wire transfers, electronic fund transfers, or other methods that do not require an escrow account. In general, whether or not bank escrow services are included in a wholesale payment transaction will depend on the specific circumstances and the parties' preferences.

What is the cost of bank escrow payment services in wholesale trade?

The cost of bank escrow payment services in wholesale trade can vary depending on many factors, including the type of transaction, the transaction amount, the level of risk involved, and the specific bank offering the service. Generally speaking, banks charge a fee for escrow services, ranging from a flat fee to a percentage of the transaction amount. For example, some banks may charge a flat fee of several hundred dollars for escrow services, while others may charge a portion of the transaction amount, such as 0.25% to 1% of the total value. The fee may include other charges such as wire transfer, document preparation, and additional administrative costs.

How long will take a bank escrow payment transaction?

The length of time it takes to complete a bank escrow payment transaction can vary depending on several factors, including the complexity of the transaction, the responsiveness of the parties involved, and the policies and procedures of the bank. Generally, a bank escrow payment transaction can take several days to weeks, depending on the specific circumstances. For example, if the transaction is straightforward and all parties promptly provide necessary documentation and approvals, it may be completed in just a few days. On the other hand, if the transaction is more complex or there are delays in obtaining necessary approvals or documentation, it could take several weeks or even longer.

Who are the leaders in bank escrow services for wholesale payments?

Several financial institutions and service providers offer bank escrow services for wholesale payments. Here are a few examples:

1. JPMorgan Chase: JPMorgan Chase is one of the largest financial institutions in the world and offers a wide range of wholesale banking services, including escrow services for large-scale transactions. 2. Bank of America: Bank of America is another significant financial institution providing wholesale payment escrow services. The bank's Global Transaction Services division offers a variety of cash management and payment solutions, including escrow accounts. 3. Wells Fargo: Wells Fargo is a well-known financial institution that offers various wholesale banking services, including escrow accounts for large transactions. 4. Citibank: Citibank is a global bank that provides wholesale banking services, including escrow services for large-scale payments. 5. HSBC: HSBC is a multinational bank that offers various wholesale banking services, including escrow accounts for wholesale payments.

These are just a few examples, and many other financial institutions and service providers offer escrow services for wholesale payments. The choice of provider will depend on factors such as the business's specific needs, the transaction's size and complexity, and the service provider's reputation and reliability.

The drawbacks of the current state of the art.

The escrow must determine the completion of the Agreement, Delivery, Buyer Payment, and Marketplace Payment. This is a complex task to orchestrate with flows based on Fiat money. A transaction using Fiat money- may take days or weeks.

The TRIO solution for the problem.

These are the steps that the Buyer and Seller will follow in TRIO wholesale payment with the Bank as a Crypto Asset Service Provider (CASP)

1. Buyer buys TRIO utility tokens as offered by the Bank. 2. The Buyer sends TRIO utility tokens to the Seller using the TRIO wallet. The seller TRIO tokens are frozen until the Buyer-Seller Agreement is fulfilled. 3. The bank determines the Agreement fulfillment

4. Seller TRIO tokens are unfrozen. 5. The Seller may sell TRIO tokens to the Bank.

The TRIO solution is much faster than existing state-of-the-art, as industry leaders offer.

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