What is a Milestone or Phase?
A milestone or phase is a landmark or segment of the transaction. Each milestone or phase should have an action and a dollar amount assigned to the milestone. The Seller will have the opportunity to indicate that the milestone has been performed and then the Buyer will be asked to confirm the milestone and authorize the release of the funds listed in the milestone.
For instance, a milestone may be a portion of a performed project, a delivery of goods listed in the milestone, or a non-refundable deposit.
Please note that while Escrow.com can release the Buyer's funds in milestone payments to the Seller, the Buyer must submit the entire transaction amount to the Escrow.com before the Seller is requested to perform any milestones.
Each line item represents one milestone.