By virtue of its authorization to provide trustee and fiduciary services under the Trusts and Trustees Act, Chapter 331 of the laws of Malta, GVZH Trustees Limited, offers escrow services for both commercial and non-commercial transactions between independent parties.
Escrow services offer a secure way for independent parties to purchase or sell products and services, and complete transactions in scenarios where the parties to a transaction are not very familiar with the business practices carried out by each other. An escrow agent is then appointed to serve as an independent third party, and as an added level of security. The main role of an escrow agent is to receive and hold the funds and/or assets forming part of the escrow property and regulate the payment, release or transfer of property held under escrow in line with the contractual agreement and terms agreed by the parties.
GVZH Trustees Limited, as an escrow agent, ensures that the transfer or release of funds or property held under escrow occurs only upon the happening of the conditions agreed between the parties and the escrow agent. The escrow agent may itself be the party verifying that all conditions have been met, alternatively, in industry specific transactions, the parties may appoint independent technical experts to verify that conditions to a transaction have been met.
Escrows are set up by virtue of an escrow agreement. This agreement sets out the framework and understanding for the parties to the transaction and the escrow agent. An escrow agreement would indicate the purpose and reason why parties are resorting to an escrow, together with the mechanisms which in turn sets the parameters for the operation of the escrow.
For further information with regards to GVZHs escrow services, please forward your enquiry to email@example.com