Monthly Archives: April 2014
I know some of you have been following the unfortunate posting on some of the blogs. In the interest of transparency I am stating CLEARLY, if you want to post a comment with allegations of criminal activity, bad practices or abuse, have the proof!
I will be moderating comments. Instead of spreading this even further on the blogs, I have responded to a sampling of the posts here:
Always check the fine print – Escrow service providers are third party contractors whose trustworthiness must be assessed!
I did a post last week about choosing an escrow company and due diligence. Since then I’ve had many people ask me questions about what to look for so I put together a list of the companies I checked and what I found.
Generally if you are using an escrow company there is a fair amount of cash involved. Save yourself headaches by doing your homework to be sure you are using a company that is licensed, insured and bonded. If you can’t find what you are looking for, call them! Ask for documentation. This is your money, if everything is in place, they’ll be happy to assist you. If they aren’t forthright with their replies..run! It’s a lot less expensive in time and money to avoid a problem than to fix one..if it can ever even be fixed!
Here is some of the information I was able to find:
So I wasted a day yesterday watching the asshats out snark each each other on the blogs. Entertaining at best. I do enjoy the “banter” between George Kirikos and Frank Schilling but beyond that.yaaaaaaaaaaaawn.
I’ve really tried to get on board. I’m a domainer. My fingers twitch when there are names to be had for reg fee but I’ve learned some self control. I have one DBR.today.
Choosing an Online Escrow Company
After reading all the threads at DNForum about problems with Toby Clements escrow service and seeing a great article about due diligence, posted on Andee Hill‘s feed on her Facebook page, I decided it was time for some due diligence of my own. I’ve put together some important questions for you to ask before you put your money on the line.
What are Online Escrow Services?
Online escrow services are when a neutral third party reduces the risk of an online transaction by providing equal protection to the buyer and seller. The party wishing to purchase the domain will give the escrow company the requisite money, and the party selling the domain will transfer the ownership of the domain. Once this has been completed, the escrow company will then give the necessary parties the documents or the money at a previously determined time. Neutral, by my definition goes outside of the specific transaction to include is the escrow company neutral? Do they have anything to gain by knowing the specific information of my transaction?
How Do I Know if an Escrow Service is Licensed?
First of all check the obvious, who issued the license and for how long have they had it. Getting properly licensed is something that can take considerable time and effort. Every legitimate company should be able to point you to their licensing authority. If the license was issued in a foreign country and you think you are doing business with someone in the United States that should raise a red flag. From where the license is issued will most likely dictate the laws that your transaction are subject to. In addition to licenses these companies should also have insurance policies and bonds in place. If you are doing a high 6 or 7 figure transaction you might want to check these out. What would happen to your funds or domains should your escrow company go out of business, would this licensing agency get involved to make sure everything turns out right? It is also prudent to visit www.bbb.org for a check.
Those are some big words to me. Wherever you go in life you leave your footprint. The domain industry has been such a powerful and positive part of my life that I always hoped I was leaving a trail of powerful and positive footprints behind me.
Many, many of you have been on this exciting journey through domaining with me since 1999. It’s been a long winding and hilly road from Great Domains chat to arrive at the Domainer’s Choice Awards But that’s not the end of the trail. It’s the beginning! I’ve whispered my dream but hardly dared to speak it aloud. Here it is now officially!!
Mr. Schilling applied for the New G .fart but had to settle for the German version – .farfrompoopin.
This got me to wondering about other domainers and whether or not they fart too. I found the following list of fart rated domainers tucked away in the DNJournal archives: