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Construction Services Trust
To secure and protect your investment of Contractors and Buyers/Owners during Construction or remodeling. Project funds will be placed in a trust and released as the construction progresses.
The Trust helps builders save money and meet all conditions stipulated within the budget. It ensures that construction costs are paid in full and on time. Funds held as collateral also protect buyers/owners by ensuring that construction companies do not misuse their funds.
Be careful when contacting companies that claim you can receive and hold money in an escrow account by claiming that one of their members is a U.S. real estate agent, so the funds will be deposited into your escrow account and held until closing. They may also claim that their funds will be safeguarded by the board of realtors of which they are a member. This statement may be incorrect.
The Board of Realtors in each U.S. State approves escrows on their behalf only for transactions conducted in the United States where the real estate agent is an active member and in the capacity of the buyer's representative.
Trust in Commercial Transactions
When buying, selling, or providing services, both contracting parties are faced with the possibility that the other party may not comply as promised. The "customer" wants to receive the product or service, and the "seller or service provider" expects to be paid after delivery/rendering of the service. For some contracts, this can be done on a cash on delivery basis. Without payment, there will be no delivery. But what can you do if you need to deliver goods to destinations thousands of miles away? Or is it a partial delivery for a while? Or does the provision of the service for some time include partial terms? One party to the contract assumes the risk that the other party will faithfully perform the contract, or the transaction will not take place.
Escrow Services solves this dilemma by providing a neutral third party who holds the funds until all parties complete the transaction and fulfill what’s agreed according to the escrow terms detailed in the Escrow Services Agreement. The agent will hold and pay the funds according to the terms and conditions of the Agreement, ensuring those terms are always met.
Trust IBG Legal as your collateral agent. We are an impartial and experienced team of interdisciplinary attorneys and business professionals who prepare for mediation and anticipate potential problems. When you use our services to manage funds, IBG Legal will ensure that all contractual obligations are fulfilled and help resolve potential problems.
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