Financial Security Facilitation
An escrow account is an instrument that facilitates financial security, when carrying out a transaction between a buyer and seller. The purpose of an escrow account is to ensure fulfillment of seller's and buyer's mutual engagements, acting as the guarantor for the fulfillment of the contractual obligations.
Suitable for a wide range of agreements concerned with real estate and any other asset deals, including trade deals, sale-purchase of enterprises and the transfer of shares. Clients assets are held in an escrow account of conditional deposition until execution of predetermined conditions.
Contract Riki Trading Limited
The deed/title to an asset or assets is held in escrow until the terms of the contract have been fully satisfied. Contract payments can be deposited to the escrow agency. We release funds once accurate bookkeeping records are provided. If a default occurs, applicable parties are notified as outlined in the agreement.
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Funds required to be held as retainage between a contractor and an owner are held in a money market fund for safeguarding. When the project is satisfactorily completed, the owner authorises the release of retainage funds plus any accrued interest to the contractor.
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