An escrow agent acts as an independent third party between a buyer and a seller. It holds the money, assets, and any other documentation the buyer has paid or provided for the purchase of an item until both the buyer and seller are satisfied that all the relevant obligations of both parties had been complied with and that the ownership of that item has transferred successfully to the buyer.
Escrow services are mainly used to mitigate financial risk and can be critical when closing transactions and facilitating the whole procedure from A – Z, especially when one or more parties are from different jurisdictions.
- Counterparty risk – where one party is concerned that the other will be unable to meet its obligations. Funds are held in escrow until one or both parties meet certain conditions.
- Price risk – where there is difficulty in valuing an asset. The price differential may be held in escrow until actual performance can be measured accordingly.
Acting as an independent third party, we shall proceed to the performance of all the necessary arrangements to hold assets in escrow and disburse them only when a predetermined condition is met.
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