Escrow Services

An escrow service is a holding service of funds by which appointed third parties ensure the seamless operation of financial transactions and obligations set out by contracts. Our expert team regularly assists in the smooth operation and completion of particular transactions as escrow agents.

In short, we see to it that payments are made in accordance with both parties’ contractual arrangements thus securing our clients’ funds and providing peace of mind on their transactions

An escrow agreement consists of a “Depositor” who appoints and entrusts the said assets to the escrow agent who is responsible to hold the escrow deposit on behalf of the “Beneficiary”. The “Beneficiary” receives the said funds or property upon the execution of certain contractual obligations between the “Depositor” and the “Beneficiary” or upon the occurrence of an expected future event.

Escrow agreements are often used during the purchase or sale of property whereby the funds are initially transferred to the law firm handling the transactions thus acting as escrow agents. The agents then deposit the funds in an escrow account and only release the said funds until the other party has fulfilled their contractual obligations.