Troco technology, farmers can use escrow services to enable safe and transparent trading, reducing risks for both buyers and sellers by holding cash until the agreed-upon criteria (such as delivery and inspection) are fulfilled.

Below is a summary of the advantages escrow can offer farmers.

Reduce Nonpayment Risk:
Troco Technology protects the farmer against possible non-payment by holding the buyer’s payment until the items are delivered and validated.
Prevention Against Low Quality or Non-Delivery:

The buyer has the option to reject the transaction and receive a refund from Troco if the items are delivered or do not satisfy the agreed-upon requirements.
Improved Confidence and Trust
Troco services serve as a reliable middleman, encouraging confidence and trust between buyers and sellers, particularly in long-distance or international transactions.

simplified Transaction procedure:
Troco services make it easier for farmers to trade by streamlining the payment procedure, particularly when dealing with foreign customers.
Troco Technology
accepts transactions from all throughout Nigeria.
Troco Technology
enabled safe escrow transactions for farmers wishing to trade anything using the ONFARM Troco platform in collaboration with the Nigerian farmer network ONFARM.
Here’s how the escrow process typically works:
Agreement: The buyer and seller agree on the price, terms, and conditions of the transaction.
Payment to Escrow: The buyer deposits the payment into the escrow service’s account.
Notification to Seller: The escrow service notifies the seller that the payment has been received.
Delivery/Performance: The seller fulfills their part of the agreement (e.g., delivers the goods).
Verification/Inspection: The buyer inspects the goods and verifies that they meet the agreed-upon standards.
Release of Funds: Once the buyer confirms that the goods are satisfactory, the escrow service releases the funds to the seller.