International cross border transactions can be difficult operations when there is no practical way to verify the performance of one party or another in a reasonable time frame and when a certain number of obligations need to be fulfilled before a payment is released.
An escrow is a financial arrangement where an independent third party holds and regulates payment of the funds required by parties involved in a transaction. It ensures transactions are more secure by holding the funds in a secure escrow account which is only released when the terms of the agreement are met as overseen by the escrow company.
Acting as a neutral independent third-party custodian of property, documents and/or funds, an escrow agent provides the security for a compromise by allowing the other parties in the transaction to verify and confirm the performance of certain obligations.
When providing escrow services, maintaining neutrality is essential to gaining the trust and confidence of all parties; each party feels represented, with no surprises or perceptions of unfair treatment.
As a licensed Trustee service provider, Rosemont Trustees (Asia) Ltd assumes the role and responsibility of an independent Escrow Agent.