Escrow Services

Escrow Services

In addition to its core trustee activity, Fairoak offers its clients professional escrow services.As escrow agent, we receive and disburse funds between two or more parties in accordance with an Escrow Agreement. This agreement stipulates the terms under which the transaction can be completed and it is the role of the escrow agent to ensure that the funds are only released once all terms have been met.

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.

A company can be exposed to risk as a result of actions by a third party mishandling funds or defaulting on delivery of the end product.By using Fairoak‘s Escrow Services, such risks can be entirely eliminated, leaving the agents to do what they are best at doing without having the burden of collecting and accounting for sales proceeds.

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).

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