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What is an Escrow?

When entering into a trading transaction with previously unknown parties, both the purchaser as well as the seller of goods bear some risks. The seller wants protection for non-payment by the buyer, and the buyer wants protection for non-performance by the seller.

Centaur Trust Escrow can prepare or assist in the drafting of an escrow agreement, and will also establish a dedicated escrow account for use until the transaction is completed.  The Escrow (account) is a blocked bank account held with a neutral and financially trusted third party. Centaur Trust Escrow use dedicated client accounts. The use of a client account ensures that the monies are protected and cannot be used for any purpose other than the intended transaction. The buyer can use this escrow account to deposit money while waiting to see whether the seller will perform in accordance with the terms of the purchase contract.  The professional advisers of both the buyer and the seller are aware of the benefits of an escrow agreement. They also have the expertise and experience to negotiate the release conditions of the amount in escrow. Centaur Trust Escrow will release the money from the escrow account after the release conditions, described in the escrow agreement, have been met.

The Main Benefit of the Escrow Agreement

The buyer is certain that he will not pay unless the seller delivers the goods in accordance with the terms and conditions of the Escrow Agreement. The seller is certain to receive the agreed consideration if the the terms of the Escrow Agreement are met. Centaur Trust Escrow secures the transaction. The buyer has the opportunity to inspect the goods before instructing Centaur Trust Escrow to pay and the seller is assured that if the goods are in accordance with the terms of the sales agreement, payment is guaranteed. This solution for the seller is far more secure than a prepayment and is also less time consuming and complicated than the issuance of a Letter of Credit.

Dedicated web-site - www.centaurtrust-escrow.com

Read More. Due to the specialised nature of these services we have established a dedicated web-site that provides extensive coverage for our services and how Centaur Trust Escrow can assist in finding custom made solutions.