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    ZNL’S Third-Party Escrow Service Terms The clause is the BOM.AI GLOBAL (www.bom.ai/en) operated by Shenzhen Zhengnengliang Network Technology Co., Ltd (hereinafter referred to as “ZNL”) to provide third-party financial guarantees for buyers and sellers during the transaction process service(hereinafter referred to as “Escrow”) Agreement. In 2023 Bom.AI launched Escrow, a third-party guarantee service for registered and non-registered members worldwide. We want to make it easier and more secure for you to transact with Chinese buyers and sellers at a lower cost.
    Apply for Escrow now

    Secure Trading

    ZNL is a third-party integrated service provider in the component distribution industry, which has provided stable services to tens of thousands of users over the past 10 years, and Escrow service is supported by ZNL Supply Chain throughout the whole process.

    Better Price

    Escrow fees start from as low as 0.3%, with a further 20% discount the second month.

    Owned Supply Chain

    Our own supply chain makes the transaction more controllable, and we can also provide you with HK receiving and storage services, so that your international trade is safe and worry-free.
    Steps of Using Escrow
    ① Submit the application ②Buyer sends payment to ZNL Escrow ③Seller ships goods to buyer ④Buyer inspects goods ⑤ZNL releases fund to seller

    1.Buyer and Seller Agree the Order Terms and Submit the Application

    The buyer and seller agree on the terms and conditions of the transaction, including the goods or services to be traded, price, delivery date, delivery method, etc. Escrow service application submitted by either party to the buyer or seller.

    2.Buyer send the payment to ZNL Escrow

    Buyer sends the payment to ZNL Escrow account. ZNL will instructs seller to ships goods after received the payment

    3.Seller ships the goods to Buyer

    After the Seller has shipped the goods, they must notify ZNL Escrow and provide the tracking information.

    4.Buyer Inspects goods

    Buyer receives the goods and inspects the goods within the inspect period to ensure that it is consistent with what was agreed.

    5.ZNL Escrow Pays the Seller

    ZNL Escrow makes payment to the account designated by seller upon receipt of notification from buyer. The service fees incurred during the transaction will be deducted from the payment to the seller (see "Escrow Fees" for details of the service fees).
    Escrow Fees Details
    • Transaction Size (USD)Escrow Fees
    • $0.00 —— $99,999.990.5% of Total Transaction Amount
    • $100,000.00 —— +0.3% of Total Transaction Amount
    If Escrow service fee is less than 100USD, the minimum charge will be 100USD. Discount: 20% off the service fee for any transaction amount this month if you have a transaction record in the previous month. learn more about 《ZNL’S Third-Party Escrow Service Terms》
    Escrow Account(T/T)
    Company Name BOM.AI LOGISTICS HONG KONG LIMITED
    Company AddressFlat Rm 33 3F SHING YIP INDUSTRIAL BUILDING NOS.19-21 SHING YIP STREET KWUN TONG KOWLOON HONGKONG
    SWIFT CODEDHBKHKHH
    Bank NameDBS BANK (HONG KONG) LIMITED
    Main Address16th Floor, The Center, 99 Queen’s Road Central, Central, Hong Kong
    DBS Bank Code016
    Branch Code478
    Savings Account (CNH, HKD, USD)001261670
    learn more about Escrow
    serenachen@mail.bom.ai
    Apply for Escrow now
    FAQs
    * Press Ctrl+F (Command+F) to search the page.
    [What you need to know]

    Q:Is ZNL a reliable Escrow service provider?

    A:Yes, ZNL has a large user base in China and has provided stable services to hundreds of thousands of users over the past 10 years, and is a well-known "Electronic Components Distribution Industry - Third Party Integrated Service Provider" in mainland China.

    Q:Will ZNL be biased in favor of Chinese users?

    A:No, we will not. "Justice" is one of the core values of ZNL, and we practice our position of justice with our actions, without double standards due to merit and self-interest.

    Q:Will ZNL disclose my transaction information to other companies?

    A:No. There is no evidence that ZNL has ever subjectively disclosed customer information in the past 10 years. As a provider known for its technology in China, Positive Energy has a strong willingness and ability to keep its customers' information secure.

    Q:Can I use the Escrow service if I am not a registered member of BOM.AI?

    A:Yes, the ZNL Escrow service is available to non-registered members worldwide. However, we recommend that at least one of the buyers or sellers register as a member so that you can check the progress of the service and service records on the website.

    Q:Is there anything in particular that buyers and sellers need to know?

    A:1.due to the quality of the goods, damage to the goods in transit, delivery delays, etc., resulting in the loss of either party to the sale. In principle, the buyer and seller should negotiate their own settlement, as a third party will do its best to coordinate the two sides to strive for a successful resolution of the problem. ZNL will not bear any loss arising from the above situation and will not assume any legal responsibility. 2.The laws of the People's Republic of China shall apply to any litigation between ZNL and buyers and sellers of electronic component aggregation transactions or Escrow services.
    [Questions about money]

    Q:Who should pay the Escrow transaction service fee?

    A:Before applying for the Escrow service, the buyer and seller should negotiate between themselves and may choose to have one party pay entirely or each pay half.

    Q:Is there still a service charge if the buyer and seller fail to complete the transaction?

    A:A transaction service fee is still payable, which can be borne in full by either party to the sale or purchase, or on a negotiated pro-rata basis.

    Q:Does ZNL provide foreign exchange services?

    A:We do not offer foreign exchange services at the moment, in principle, we only deal in US Dollars. Please contact us at serenachen@mail.bom.ai if you need the service.

    Q:What are the charging methods and receiving account port for the ZNL Escrow service?

    A:
    Only wire transfer (T/T) is currently supported. Receiving account: Company Name: BOM.AI LOGISTICS HONG KONG LIMITED Company Address:Flat Rm 33 3F SHING YIP INDUSTRIAL BUILDING NOS.19-21 SHING YIP STREET KWUN TONG KOWLOON HONGKONG SWIFT CODE: DHBKHKHH Bank Name: DBS BANK (HONG KONG) LIMITED Main Address: 16th Floor, The Center, 99 Queen’s Road Central, Central, Hong Kong DBS Bank Code: 016 Branch Code:478 Savings Account (CNH, HKD, USD) : 001261670
    [Questions about trading]

    Q:How long should buyers transfer money to ZNL after the Escrow application is approved?

    A:Buyers should transfer funds to ZNL as soon as possible within 3 working days after the application for Escrow is approved.

    Q:When does the seller ship the goods?

    A:Shipment to the buyer will be made according to the supply date agreed between the buyer and seller themselves and in principle should be made within 5 working days of applying for the Escrow service.

    Q:Who is responsible for the shipping costs?

    A:The original shipping costs, return and exchange shipping costs should be agreed upon between the buyer and seller.

    Q:How long does it take for the buyer to complete the inspection and inform ZNL after receiving them?

    A:In the absence of any special agreement between the buyer and seller, the buyer shall complete the inspection and confirm receipt of the goods within 5 working days from the day of receipt. The buyer shall promptly notify ZNL that the inspection has been completed and inform ZNL to release the funds to the seller. If the buyer does not notify ZNL, ZNL will take the initiative to contact the buyer on the last working day of the agreement.

    Q:How to handle disputes between buyers and sellers during the transaction?

    A:Both parties should negotiate and draw up their own contract before the transaction begins, specifying the issues that arise during the transaction and how they will be handled. In the event of a dispute that is not clearly defined, the principle of whoever raises the dispute shall be the one to adduce evidence, and ZNL will handle the dispute fairly, openly and impartially.

    Q:When will the buyer receive the payment for the goods after returning them?

    A:ZNL will only refund the buyer after the seller has received the goods for inspection and confirmation.

    Q:How do I cancel a transaction?

    A:After successful negotiation between the buyer and seller, both can propose to cancel the transaction in writing. However, a transaction service fee is still payable, which can be borne in full by either buyer or seller, or by negotiated proportions.

    Q:Does ZNL help receive goods or drop shipments for Buyer and Seller?

    A: ZNL can provide shipping and receiving services in Hong Kong for both buyers and sellers.
    For matters not covered by this agreement, the three parties - ZNL, the Buyer and the Seller - shall negotiate amicably for a proper resolution of the issue based on the principle of full communication and satisfaction of all parties.
    Apply for Escrow now
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    Founded in 2013, Shenzhen Zhengnengliang Network Technology Co.,Ltd. currently has nearly 200 employees, of which more than 50% are technical engineers. It is a technology-intensive Internet company.
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