Escrow service is a conventional setting consisting of three parties; the two parties and the escrow agent. In essence, it is agreed between the parties that money or assets will be kept by the escrow agent who in turn will deposit the money in an escrow account and will distribute the money or assets to the other party on completion of the agreement. This service provides an opportunity for further safeguarding when an agreement is formed. It ensures the buyer that he will pay the agreed amount only when, and if, he has the product in his possession. At the same time the seller is ensured that he will receive the agreed amount, depending on the completion of the agreement.
Our law firm undertakes both the preparation of agreements with escrow agents as well as the provision of the escrow service.