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Can you get pre-orders via Escrow?

by easygoingdude
1 replies
I'm developing an electronics product which will cost around $60,000 to design.

I would like distributors (who'll be my customers) to leave a deposit in an escrow account even when I don't have a real world prototype ready. Is this do-able?

It seems like a good idea, but I haven't heard much about it online, just real estate escrow deposits. It would be kind of like a Kickstarter, albeit in much larger sale sizes because we're talking about distributors, not individuals.
#escrow #preorders
  • Profile picture of the author SashaLee
    Hello,

    So long as you had some iron-clad contracts that stated the distributor would be entitled to a full refund within a certain timeframe were you NOT to produce the product.

    Paying for a prototype might be a difficult sell.

    Good luck with it!

    Sash...
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