Through Primei Fiduciary Ltd., a company fully licensed to act as Trustees, the firm offers support and assistance with issues related to escrow services, for the protection of assets in a particular given transaction. These assets can vary and may include, but not limited to, goods, cash and documents.
Escrow services are considered to be an effective way to mitigate fraud and other similar risks in commercial transactions. Such services take place in financial arrangements, where a third party collects and holds the payment of funds involved between two principals. These services provide comfort and security as the assets or funds are secured in a designated escrow account and payment is only released once it is assured that the terms and conditions established prior the transaction are in fact carried out prior to any exchange between the principals.
HOW IT WORKS?
The steps involved in an escrow transaction are for the two principals, mainly known as the grantor and the grantee, to set out the terms and conditions of the transaction between them. Following an agreement on the terms and conditions in relation to the transaction, the grantor transfers the assets or the funds to us, as escrow agents, and once we verify such transfer, the grantee will be notified that such transfer has been made and that the assets or funds are secured. It is only after the exchange is made, and there is confirmation on the part of the grantee that the latter is satisfied with the exchange, that we will release the funds from the designated escrow account directly to the grantor.
HOW CAN WE HELP?
As licensed trustees we can assist clients in opening escrow bank accounts, draft customised escrow agreements on the basis of the terms and conditions as agreed between the principals, and acting as escrow agents in relation to various commercial transactions.
For further information, kindly Contact Us now for further information and advice.
Kindly Contact Us now for further information and advice.