Having a trusted third-party to hold the legal documentation or title to property for a specified amount of time, or until the satisfaction of a condition is fulfilled, is a safer way to conduct business these days.
Introducing: ESCROW SG!
Escrow is often used by transaction participants to add more comfort in their deals. They are assured that an independent contractual intermediary can help mitigate disputes that can potentially arise in a complex transaction, particularly with multiple settlement requirements and milestones.
ESCROW SG helps to reduce the risk of a transaction failing between parties.
For example, in a sale and purchase transaction, ESCROW SG holds the funds until receiving appropriate instructions or until certain predetermined conditions are satisfied.
Money, shares, securities, source-code, encryption keys or other types of assets can be held in escrow. Apart from sale and purchase transactions, escrow is widely used in paymaster escrow transactions, document escrows and bespoke escrow arrangements.
Below is a simple illustration of an escrow arrangement during a typical transaction taken by corporations or individuals.
Some of the common reasons given by our clients as to why they want to use an escrow service:
Commence a business relationship quickly
Transact with certainty
Protect funds in exchange
Reduce risk of late payment or default
Reduce insolvency risk
Enhance mutual trust and commitment towards deal completion
Escrow SG is an independent third-party referee which clients need to safeguard the process when signing complicated agreements. Escrow SG works with clients from professional services companies, law firms, fund managers, conglomerates, investors, family offices, entrepreneurs and project sponsors.
Escrow SG is a wholly-owned subsidiary of Sircured Pte Ltd, which is a certified fintech member of the Singapore FinTech Association. Escrow SG is building an offline and online platform that provides a simple and secure escrow arrangement facility for financial transaction participants.
Escrow SG is affiliated with Watiga Asia, an established corporate services and fund/loan administration company in Singapore. Watiga Asia is part of the Watiga group companies, which includes Watiga Trust (licensed by the MAS as a Licensed Trust Company and an Approved Trustee for collective investment schemes) and Watiga Legal, a Singapore law practice with capabilities in English and New York law as well. www.watiga.com
For enquiries as to the platform that Escrow SG is building out, or as to partnership or investment opportunities into the platform, please email to Iwan@escrowsg.com