Escrow Agency & Escrow Account Services

Due to the excellent reputation and trust our company enjoys in the market we undertake escrow services.

1. Meaning of "escrow":

The escrow agent keeps a sum of money and/or documents in custody until pre-determined condition/s is/are met.

2. When escrow may be used:

• Acquisitions
• For transfer of part or whole ownership
• As a guarantee for entering into any form of agreement
• As a performance guarantee
• For exercise of share option agreements
• Any other case upon request

3. Reason for using escrow accounts:

• Quick and easy way to set-up a customized agreement with, as the case may be, release conditions
• The buyer is comfortable and sure that the documents and/or funds can be released according to the escrow agreement
• The seller is comfortable and sure that the buyer has the money to buy and this money is available in an account with a reliable and trusted third party

4. Why us for escrow:

• Trusted third party
• Expertise
• Flexible approach client focused

5. Fees:

Fees will depend on

• Amount Significance
• Complexity of agreement /release conditions
• Due Diligence requirements & time consumed
• Time validity of escrow agreement

Please note that in some simple cases where one party does not wish to use escrow then letter of credits may be used instead.

6. Procedure:

• Escrow agent, Buyer and Seller agree on procedure and sign Escrow Agency Agreement (EAA).
• The Buyer deposits funds in the escrow account and/or documents under custody of escrow agent.
• Escrow Agent informs parties that money and/or documents have been received and kept under EAA terms. Escrow Agent keeps funds and/or documents under custody & according to the EAA terms.
• Seller or buyer acts on the agreement between them and informs Escrow Agent he is ready for completion as per EAA terms.
• Closing meeting is arranged and all parties attend at Escrow Agent's premises.
• Seller presents the required documents under EAA and a) Buyer checks & accepts them or b) Escrow Agent checks & accepts them.
• Escrow Agent then releases funds to seller & documents to the buyer as per EAA terms.
• EAA is terminated.

( Note : The procedure may be changed to suit the requirements of each transaction)

7. Due Diligence Requirements:

Like any other service we offer due diligence requirements are followed. Due diligence will vary according to the transaction.