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Project Escrow

The acquisition and delivery or Project Based Services often require service level and payment or settlement criteria which can be complex especially when the supplier buyer relationship is a new one.  Typical examples are to be found in the construction and maintenance industries where project implementation and payment timescales can be many months or years.  During implementation both the buyer and supplier may need the reassurance that purchase funds are available and that the services or goods will be satisfactorily delivered at each stage of the project.

In such circumstances Financechain provides a secure Project based Escrow Agreement which reflects the specific service levels, criteria and milestones against which payment for the services will be made and that:

  • Protects the service provider by ensuring that ‘pre-deposited funds’ are available for payment as and when goods or services are delivered according to criteria specified in the Escrow Agreement – the seller is thereby assured that funds are available for payment
  • Protects the buyer by ensuring that his ‘pre-deposited’ funds are only transferred to the service provider as and when the services are delivered according to the criteria specified in the Escrow Agreement – the buyer is thereby assured that his funds are retained until satisfactory delivery by the provider

As the trusted Escrow Agent, Financechain will provide an Escrow Agreement which will include specific criteria and milestones which when satisfied or met will result in the transfer of funds. The agreement can remain in place for the duration of the project and can include multiple deposits and payments or part payments, so assuring both buyer and supplier of delivery and payment throughout project implementation.

For more information about Financechain’s Escrow for Projects contact us on 0161 440 2700 or email enquiries@finance-chain.com