Escrow is a business contractual arrangement whereby an asset or money is held by an independent third party (i.e.: escrow agent) on behalf of two other parties or more who are in the process of making a deal. The escrow agent has to make sure that all terms and conditions are met before any releasing of funds and transferring of assets to the intended party(s).
To protect the wellbeing of all parties involved as stated in the escrow agreement
Facilitate settlements and project financing through an escrow account
Parties involved will be comfortable to submit funds, deeds and other items for the business arrangement as PBTSB is a bank-backed Trustee with strong corporate governance and high compliance to the laws and regulations
The escrow agent to carry out duties and responsibilities to make sure all conditions as stated in the escrow agreement are met
Securely and transparently holds all upfront funds and deposits in custody as an impartial third party until all predefined conditions between the parties have been fulfilled
Timely, flexible and independent service by PBTSB to allow a peace of mind for the parties involved