Escrow Payment System
Bidroom's escrow system protects both owners and contractors by holding funds securely until work is verified.
How It Works
- Funding - Owner deposits funds for a milestone into escrow
- Work - Contractor completes the milestone work
- Submission - Contractor marks milestone as complete with photos
- Approval - Owner reviews and approves the work
- Release - Funds are released to the contractor
Key Benefits
- For Owners - Your money is safe until work is verified
- For Contractors - Guaranteed payment once work is approved
- Dispute Resolution - We mediate if there are disagreements
Platform Fees
Bidroom charges a 2.9% platform fee on all payments. This covers escrow management, dispute resolution, and platform maintenance.