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What is trust? How do I use it?

When making a transaction for a certain amount, both parties can make a deposit (usually equal amounts) to a special trust purse. The parties can revoke their trust amounts only by mutual agreement (this is ensured by the use of special passwords). When one of the parties is satisfied with the transaction outcome, they will enter a password. When the passwords have been entered by both parties, the trust amounts return to their purses.

This option acts as a guarantee that both parties are interested in a legal and honest conclusion of their transaction.

For the mechanism to be effective, the amounts of trust deposits from both parties should exceed the cost of the transaction.

For example, when goods are sold for WMZ 50 and the trust deposit is WMZ 20, a fraudulent seller will gain WMZ 30 of pure profit if he receives the payment and never delivers the goods. On the other hand, if a dishonest buyer receives goods and never pays, he will also save WMZ 30. In the above example the trust mechanism will not work.

According to this example, if the amount of a trust deposit is greater than the cost of the goods (ie WMZ 80), then the seller will lose WMZ 30 if he does not send the goods. Similarly, the buyer who does not pay for the goods will in fact overpay by WMZ 30.

When the amount of a trust deposit exceeds the amount to transfer, fraudulent activities become ineffective for both the seller and the buyer. In the latter example, the trust mechanism is fully comprehensive.

The service that implements the mechanism is located at trust.webmoney.ru

Read the instructions on the website carefully before using this service.

No claims will be considered for trust services created by other websites or for any other reason.

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