Escrow agency services are often required in a variety of corporate transactions and actions such as mergers and acquisitions, performance or indemnity deposits, deferred fees from joint ventures etc. Increasingly clients require escrow agents who are independent in that they don’t provide other services, such as banking, investment or legal advisory, to the escrow parties.
Services:
Our escrow agency services include:
- Use of Dominion regulated entity as the escrow agent
- Provision of Dominion-drafted template escrow agreement
- Opening of escrow bank account with preferred bank
- Careful monitoring of the conditions for release of the escrow amounts
- Day to day administration and liaison with the escrow parties
- Orderly closure of the escrow account once all conditions satisfied
Highlights of key considerations for escrow arrangements:
- Fast and efficient completion of initial due diligence on escrow parties
- Ability to operate the escrow account in major currencies
- Flexibility to carry out escrow services in respect of other types of assets
- Regular reconciliation of escrow holdings
- Ability to secure favourable interest on escrow deposits