With the increase in trade and commerce, Escrow services have gained prominence, and helped businesses and individuals achieve larger goals. As one of the most trusted escrow services provider, we extend an assortment of benefits, to facilitate your business. Below-listed are some of the core advantages of our escrow services.
Fulfilment of Obligations
When parties enter into a contract, there is every possibility that either of them may eventually fail to fulfil their contractual obligations. Hence, by depositing the amount into an Escrow account, the Beneficiary or Authorized Beneficiary, is assured of the Depositor's ability to pay. Conversely, the Depositor is assured that the Escrow funds would be released to the Beneficiary only upon his fulfilment of contractual obligations.
By making use of Escrow services, parties to an agreement express their genuine intention and capability to enter into a transaction. This becomes essential in case of businesses or transactions, which require verification of sensitive documents, prior to the payment of consideration in lieu of the subject matter of the contract.
These are transactions wherein the subject matter of the agreement requires a thorough inspection. Here, our escrow services ensure that all the parties to an agreement possess the legal and financial capacity to conclude the agreement.
Fulfilment of Statutory obligations
Escrow funds are also held for the future fulfilment of statutory obligations such as paying taxes. These are held in cases mortgages, where taxes need to be paid according to the terms laid down between the parties. Also, employers can hold funds in an escrow account until the due date of payment of taxes and then transfer them to the concerned authorities.
When you are dealing with unknown parties, we help you minimize your risks and act as an intermediary. In the past, numerous businesses have benefitted from our escrow services, especially in the case of cross-border businesses, where there is lack of adequate interaction between the parties.
Ensures a well-structured Business
Hiring our escrow services enable businesses to lay down terms and conditions for the Beneficiary to fulfil, only after which, we release the amount in favour of the Beneficiary. To illustrate this, let us take the example of an exporter and an importer. An importer places an order which the exporter must ship. However, neither party is sure about the genuineness of the other.
So, a convenient manner in which both the parties are reassured about each other, is by hiring our escrow services, and transferring funds into an escrow account. Here, we make the entire process easier and more convenient. Here, the Importer deposits the money into an Escrow account, before the Exporter ships the goods. Upon the receipt of goods by the Exporter and after the inspection period, as laid down in the escrow agreement, we release the escrow funds accordingly.