Large amounts in the transaction and need security in the settlement of the deal? There is a way: out-put the money into an escrow account. WWPi opens an escrow account in IBAN format in EURO.Contact Us
Escrow account for secure settlement between buyer and seller.
«Escrow» it is called because the right to own funds in the account automatically passes from one owner to another when certain conditions occur.
The buyer transfers the funds to the escrow account, and the seller takes them only upon fulfillment of the conditions prescribed in the contract in advance.
The fulfillment of the conditions prescribed in the escrow agreement is monitored by an intermediary-an escrow agent, which can be, for example, a Bank, a notary, a Lawyer, an administrative and service provider.
Until settlement, the funds recorded in the escrow account belong to the Buyer (the person who placed the asset in the escrow account).
Upon fulfillment of the conditions specified in the escrow agreement, the settlement occurs, as a result of which the owner of the funds or assets in the account changes. The funds are transferred to the person in whose favor the escrow account is opened.