INTRODUCTION TO ESCROW

An Escrow Agent is a trusted third party, who ensures a safe, efficient, and quick method of buying and selling products and/or services on an International basis.

The Escrow Agent will accept funds into the escrow account from the ‘Buyer’ and confirm to the ‘Seller’ that the funds are held pending delivery or confirmed shipment of the goods, or in the case of a financial transaction, an approved Bank to Bank verification by Swift.
An Escrow is usually used in cases where there is no trust between the parts of an agreement concerning the fulfilment of the agreement’s conditions and generally to avoid any disagreements.

An Escrow agreement is a document specifying the terms of the transaction between a buyer and seller. It is usually divided in three parts: The “Depositor” (Buyer), the “Escrow Agent”, and the “Beneficiary” (Seller). The amount of money, which is deposited through the Escrow Agent, is called “Escrow Fund”.


Once the terms of a transaction are confirmed between the parties, neither party can change the terms of the agreement without both parties agreeing in writing. This effectively prevents either the buyer or seller changing the agreement for some commercial advantage. Once the Escrow Agreement has been signed by both parties the transaction can go ahead quickly, safely, and efficiently.

Contact Profel Ltd , http://www.profelltd.com/ , for more information and advice on the use of Escrow Services.

The use of our Escrow facility will ensure a safe and positive outcome for your International transactions. It ensures that only buyers who have funds and are capable of proving it are entertained. The Escrow facility ensures that sellers are dealing only with properly qualified clients (buyers) who can and will pay. Escrow also ensures that buyers receive the product they are paying for.