What is an Escrow Service?
An escrow service is a process by which a third party (the escrow agent) holds assets on behalf of two other parties that are processing a deal. The escrow arrangement offers the parties involved a method of protection against bad transactions. Typically, in a transaction, one party purchases a product or service and the other party will supply it. In many transactions, there is no guarantee that respective parties will honour the agreement made. This could result in no payment or no delivery of goods and services – which is where an escrow agent comes into play. Escrow agents hold these assets only releasing them once they receive confirmation from the parties that the transaction is complete, and all obligations have been met.
Scenarios where Escrow Services may be required:
To carry out these services, we work in partnership with More Group Capital Services (MGCS). MGCS is an independent provider of trustee services and is experienced in acting as an escrow agent in a variety of complex transactions.
In partnership with
MGCS we can:
Hold security overcharged assets on behalf of secured parties
Act as an impartial holder of security for the benefit of lenders
Review amendments and other requests on behalf of lenders
Release from, or accept additional assets into the security portfolio
Enforce security in the event of default
How we can
Our partner, MGCS has experience working with leading institutions dealing with a range of asset classes, structures, and jurisdictions. Alongside MGCS, we will deliver an efficient, accurate, and impartial service to clients.
Many companies encounter inadequate business deals, leaving them short-changed. Clients seek our services as a precaution to prevent it from happening again. Through working with MGCS, we ensure our clients’ interests are protected during complex business transactions.
If you want to protect your business transaction welfare, contact us for today to book a free initial consultation.