Services
THIRD PARTY ACCOUNTS
ESCROW
PAYING AGENT
PROJECTS ACCOUNTS
FUNDRAISING ACCOUNTS
LITIGATION PAYMENTS
Strategy. Planning. Execution.
THIRD PARTY ACCOUNTS
Credence escrow provides a level of security and trust for both parties involved in a transaction. It helps mitigate the risk of fraud or default, ensuring that neither party is at a disadvantage.
We are reputable and trustworthy and ensure the integrity of the transaction. Additionally,we ensure that parties should clearly outline the terms and conditions in the escrow agreement to avoid misunderstandings.
ESCROW
We act as a neutral third party that facilitates secure transactions between two parties. Our services are commonly used in various transactions, including online purchases, real estate transactions, and business deals.
We provide a secure and impartial platform for transactions, reducing the risk of fraud or default for both parties.We play a crucial role in fostering trust in various types of transactions, especially in situations where parties may not be familiar with each other .
Paying agent
Credence Escrow serves as a paying agent in escrow deals and adds an extra layer of security and impartiality to the transaction. It helps ensure that funds are distributed only when the specified conditions are met, reducing the risk of fraud or disputes between the parties involved.
It’s important for all parties to clearly define the role and responsibilities of the paying agent in the escrow agreement. This includes specifying the conditions for fund release, any fees associated with the paying agent’s services, and the procedures to be followed in case of disputes or non-compliance with the escrow terms.
FUNDRAISING ACCOUNTS
Using an escrow service for fundraising accounts adds an extra layer of security and accountability, assuring donors that their contributions will be used as intended and providing organizers with a structured and transparent way to manage and access funds. When setting up such arrangements, it’s essential to clearly define the terms, conditions, and milestones in the escrow agreement to avoid misunderstandings and ensure a smooth fundraising process.
Flexible solutions for your every need
Agreement: The buyer and seller agree on the terms and conditions of the transaction. This could involve the sale of goods, services, or other assets.
Selection of Escrow Service: Both parties agree on a trusted third-party escrow service to act as an intermediary. This can be a financial institution, a specialized escrow company, or sometimes even a legal firm.
Creation of Escrow Account: The escrow service establishes an escrow account, which is a third-party account specifically designated for the transaction. This account is separate from the personal or business accounts of the buyer, seller, or the escrow service itself.
Deposit: The buyer deposits the agreed-upon funds or assets into the escrow account. This demonstrates the buyer’s commitment to the transaction.
Verification of Funds or Assets: The escrow service verifies that the funds or assets have been deposited. This step ensures that the escrow service holds the agreed-upon resources securely.
Conditions and Timelines: The parties define specific conditions that must be met for the funds or assets to be released from escrow. These conditions are usually outlined in an escrow agreement and may include things like the satisfactory completion of services, delivery of goods, or meeting specific deadlines.
Verification of Conditions: Once the conditions are met, the escrow service verifies the fulfillment. This could involve reviewing documents, inspecting goods, or any other necessary steps to ensure compliance.
Release of Funds or Assets: Upon confirmation that the conditions are satisfied, the escrow service releases the funds or assets to the seller. If the conditions are not met within the agreed-upon timeframe, the escrow service may follow specific procedures outlined in the escrow agreement, such as returning the funds to the buyer.