TradeSafe is South Africa’s trusted online financial escrow and payments services provider. The company is an independent third party that safeguards the buyer’s funds in trust until the seller delivers to the buyer what was promised. Only once the buyer is happy with the goods or services received does TradeSafe release the funds to the seller.
Our escrow methodology significantly reduces the risk of fraud, scams or bad debt. The money is in the middle which protects both the buyer and seller:
- If the buyer does not have the funds, the transaction will not start;
- If the seller does not deliver what was contracted, he or she will not get paid.
TradeSafe provides peace of mind by ensuring every transaction is safe, secure and successful.
The founders all had one thing in common, that they had grown tired of the systemic rot that had encroached South Africa’s commerce sectors. There is an increasing lack of trust and confidence when doing business with one another in this country. It was out of this social imperative that TradeSafe was established to provide honest South Africans buyer and seller security.
TRADESAFE – LEGAL STATUS
Instead of blindly trusting your counterparty, TradeSafe enables you to take control of your transaction for a nominal transaction fee. Without your trust, we don’t have a business, so we take this aspect very seriously! The entity that holds the funds, TS Escrow (Pty) Ltd Registration no. 2015/129311/07 is a judicial company of and is separately registered from TradeSafe’s day-to-day operations namely Trade-Safe Holdings (Pty) Ltd registration no. 2013/170109/07. TradeSafe peruses a registered independent auditor to perform agreed-upon procedures, in terms of International Standard on Related Services, to ensure the validity and accuracy of the transactions and balances of TradeSafe’s trust account. In addition, the funds are covered by fidelity insurance underwritten by leaders in Broad Form Liability Insurance.
TradeSafe is an authorised Third Party Payment Provider with the Payment Association of South Africa (PASA) with license number SP001191 in terms of SARB Directive 1 of 2007. Please click here to verify our membership.
Our legal counsel is Michael Judin of the premier boutique law firm Judin Combrinck Inc. which was established in 1936. Mr Judin is an expert on escrow related contracts, particularly in relation to larger and more complex transactions. Judin Combrink Inc are situated at the Wanderers Office Park Pavillion Building, 2nd Floor, 52 Corlett Drive, Illovo and can be contacted on telephone (011) 595-2300.
Our foreign exchange partner is Gapex. Gapex is an authorized Financial Services Provider with license no. 37786. TradeSafe can now provide escrow related services to cross-border transactions in more than 24 currencies. Contact us to learn how TradeSafe can support your business in any international deal, trade or transaction.
TradeSafe has partnered with EFTSecure to provide instant EFT capability. Buyers can now pay using their Cheque, Current or Savings accounts. All EFT payments are immediate and confirmed in real-time and allows the Seller to dispatch the goods and services on successful payment notification.
TradeSafe has partnered with PayFast to enable Buyers to make payment using credit and debit cards (bearing the VISA and MasterCard trademarks) online to the TradeSafe escrow account. 3D Secure will be activated for all transactions being paid by card.