To allow all mandates / broker parties to ‘let go’ knowing there is security of payment of commissions, non circumvention and confidentiality, the contract for the Paymaster Dispersal Product (PDP) will be simultaneously issued to the mandate / broker teams and agreed prior to any buyer / seller contract. This means whilst the anonymous buyer and seller verification is taking place the broker / mandates have the opportunity of establishing direct contact to Chartmore ensuring payment.
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No communication will be entered into by the Chartmore Escrow Agent / lawyer unless the authourised Chartmore mandate has registered the party. |
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During these difficult financial times, it is often difficult to persuade Banks to accept large incoming transfers such as commissions into accounts with little or no track record. |
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For large volume funds, the Escrow facility for commission dispersal will make it a safe and easier method of getting paid. |
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Mandate teams have the options of setting up an offshore company and bank account prior to or on successful completion of the transaction if required. |
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Once the parameters of each individual transaction has been discussed and payment splits agreed, the Escrow Agent strictly follows the payment dispersal process monthly without interference from any 3rd party. |
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Payments go by wire transfer into the mandates / brokers bank account. Only on receipt of an agreement in writing from all parties pertaining to the transaction can payment parameters be altered thus assuring no one party has precedent. |
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The Escrow Agent/lawyer pays monthly the agreed commission to each individual on receipt of agreed shipping documents sent by the seller and funds paid by the buyer through the appointed Escrow bank account as per conditions of the contract. |
