An escrow account diminishes risks in real estate, cars, shares, and other property purchase or sale transactions - for companies and private individuals alike.
Trilateral agreement between seller, buyer and BEDFORD PAY.
An opportunity to agree on all terms necessary for a secure contract, including document deliveries, terms and methods of payments.
Steps to set up the escrow account
REGISTRATION
Fill out the Escrow Account Agreement preparation application via Internet.
The BEDFORD PAY opens escrow account.
DEAL
The buyer transfers the amount of transaction to the escrow account.
The seller does the necessary paperwork and delivers the documents to the BEDFORD PAY.
RECEIPT OF FUNDS
The BEDFORD PAY checks the documents delivered. If the documents meet the requirements of the agreement, then the bank effects the transaction - the seller receives the money and the buyer receives the original documents.
SERVICES
STANDART ESCROW TERMS
NON-STANDART ESCROW TERMS
Opening account
1% Min. 200
1% min. 800
Verification of documents
200
200
Servicing account
Free of charge
150
Changes
50
70
Informing customers
Free of charge
Free of charge
Closing account
Free of charge
Free of charge
Requirements
At least one of the parties to the transaction must hold an account with BEDFORDPAY;
Fill in the Escrow Account Agreement preparation application:
All three parties - the BEDFORDPAY, the buyer, and the seller need to enter into a trilateral agreement.
Upon opening the account and signing the agreement all parties have to present their ID documents: passports or ID
