The advantages are all round, as clients are safe in the knowledge that their funds are being held by an independent third party in a “client escrow account” until such time as pre-agreed release criteria are met. The Developer, at the same time, can be sure that the demise of any agent will not adversely affect their reputation and that they also receive their funds.
In today’s ever demanding business environment, it is of increasing importance to ensure that the good reputation of an organisation remains intact.
Fairoak draws on many years of experience in offering this particular service to its clients and the company’s highly trained team provides regular financial reports on receipts, payments and outstanding balances.
All Fairoak bank accounts within the British Isles are recognized Client Accounts and are protected against financial failure of any of the parties (including the escrow agent).