Escrow Services | Safeguard Your Assets And Reduce The Risk Of Fraud

What is Escrow, and Why Do You Need It?

The term escrow refers to a legal arrangement in which a trusted third party (the escrow agent) temporarily holds an asset (usually money) on behalf of two other parties that are in the process of completing a transaction. Upon fulfilling the contractual requirements as predefined in the escrow agreement, the escrow agent will release the funds to the proper recipient.

The law firm I am currently working in Hong Kong provides efficient and professional escrow service to those who want to protect their assets in any business transactions. As a senior lawyer practicing for more than 25 years and with substantial experience in international commodity trading and financial transactions, I can draw up an escrow agreement customized to your needs.

Those doing business must use escrow services to help facilitate transactions, reduce risk, and, most importantly, combat scammers. A wide range of business transactions can use escrow services. To name a few, BG/SBLC transactions, merger and acquisition transactions, project finance, trading activities, and selling and purchasing commodities. Further, escrow can also be used as a "proof of funds" when a purchaser wants to reassure a seller that he has sufficient funds to complete the transaction. That is why so many companies turn to me for escrow services.

Risk reduction is top of mind in any global transaction, and escrow services are always a smart solution to reduce the risk of fraud and protect your asset. I can help you develop an escrow transaction structure that will work for you and fully protect your funds during the entire escrow period.

Case study

Issuing a Banker’s Guarantee (BG) or a Standby Letter of Credit (SBLC) requires an upfront fee. An applicant had paid an upfront fee for obtaining an SBLC, but the so-called provider failed to deliver. As a result of which, the applicant lost his money. He wouldn't have suffered a loss if he had used my escrow service. He now understands how crucial is escrow in his next business deal.

Escrow Agent Fee

The escrow agent fee is 1% of the amount in escrow. You may be able to find other escrow agents who can offer a lower rate that looks appealing, but keep in mind that it will become much more expensive if anything goes wrong.

Once you engage my law firm for escrow service, it sets up an escrow account and draws up a companion escrow agreement. The escrow agreement is well-drafted and tailor-made to protect your funds up to closing.