Escher’s Escrow solution provides the safest way for two parties in a transaction to do business.
The use of escrow is becoming increasingly more popular as it helps to limit and resolve financial disputes in the buying of goods and services as well as property transactions.
Escher’s software provides organizations with a straightforward way to offer escrow accounts to customers. It safeguards and manages deposits for future services. Organizations can offer this solution to a single customer, or view and manage multiple accounts from a central location.
Our solution ensures that any monies and documents held in escrow are ring-fenced and can only be released by the mutual consent of both parties at the end of a period. It also manages the workflow ensuring the necessary steps are taken to bring the transaction to a satisfactory close.
If the amount is disputed, Escher’s solution can manage resolution workflow. The monies are held in an account until a mediator resolves the issue.
Our software has been designed to suit all types of transactions that would benefit from using escrow services such as property sale – for safeguarding deposits and title deeds while a sale is completed; property rent – for damage deposits or for rent itself if a tenant can demonstrate that essential works on a property are required; mortgage lending – as a holding account for property taxes and home owner insurance; high value goods – for buyers’ deposits or vendors’ warranties; and services such as wedding planning to protect couples from losing deposits or building contracts to allow monies to be drawn down once milestones have been reached.