Due to the increase of global commercial transactions, there has been a demand for third parties to a commercial transaction to hold an asset. This includes monies, funds or immovable property. These must be delivered to a grantee once the agreed conditions have been met.
The commercial transaction, its conditions, the identification of the parties to the transaction, and the escrow agent are generally specified in an escrow agreement.
Integritas Group Ltd is authorised to act as a trustee and provide fiduciary services under the Act. We have gained extensive experience in providing escrow services, including opening escrow bank accounts and acting as escrow agents in commercial transactions.
Following the Act, commercial transactions include the following transactions and any other transaction connected or ancillary to it:
- securities offerings, whether to the public or for private placement, portfolio management and custody of investment instruments;
- the securitisation of assets;
- the grant of real or personal security interests including hypothecs, mortgages, privileges, pledges and guarantees;
- collective investment schemes;
- employee benefit or retirement schemes or arrangements;
- syndicated loan agreements and other multi-creditor banking facilities;
- insurance policies and the payment of proceeds thereunder;
- timeshare and multi-property structures.
Our escrow services enable our clients to have good business relationships and carry out commercial transactions at ease. Should you wish to know more about these services, contact us to provide you with a bespoke service.