Escrow Agent

FCMB Trustees offers professional escrow services which is a third-party financial arrangement intended to protect parties to a transaction until such a time as pre-agreed release criteria are met.

As an escrow agent, we act by holding documents, providing bank and securities accounts, monitoring and releasing the securities upon completion of the transaction in line with an Escrow Agreement, which stipulates the terms under which the transaction is consummated by the Parties.

Our role is to ensure that the asset(s) are managed properly even as we accept and hold same until all terms and conditions are achieved. We do this by:

• Determining the identity and residence of all parties to the transaction. We will also determine whether any other parties are acting on behalf of another person as nominated party or any other intermediary.

• Obtaining details of the type of Escrow i.e. Whether it be for Merger & Acquisition, Capital Raising, Collateral, Project Financing or Litigation.

• Opening off-shore escrow accounts when necessary to hedge against foreign exchange losses.

• Opening and maintaining multi-currency accounts for the escrow.

• Ensuring strict Compliance to instructions (payment of approved invoices and request for information) issued by the principals and parties to the transaction in a precise manner.

• Tracking and Investing idle funds via a daily sweep arrangement to ensure no investment benefit is lost and prompt reconciliation of accounts.

• Periodic reporting to all parties parallel with the transaction dynamics and agreement.

• Closing the escrow in concurrence with instructions when and where necessary.

• Handling the funds and/or documents in a confidential manner and in accordance with the instruction.