Escrow services can be used for virtually any situation where money or property are being transferred between parties. It is most commonly associated with property sales in the US, (you may have heard of the term ‘In Escrow’ being used during a property purchase).
In the UK, whilst less commonly used for property purchases, there are many uses for escrow services such as:
- Corporate Financing and the raising of Capital
- Corporate transactions including mergers, acquisitions and sales
- Large charity and fundraising events
- Sales of high value property / goods at a distance
- Holding settlement funds following disputes
- Holding ‘security for expenses’ for Party Wall and Construction matters
- Holding payment for the supply of services
These are just a few examples of transaction types we have previously provided escrow services for; however, they can be applied to almost any transactional exchange.
Our team would be happy to talk through how escrow services can be applied to your transactional projects. To find out more, contact us via our website or leave a comment below.
Riverside Escrow Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2017 with registration number 920922 for the provision of payment services.
Riverside Escrow is a UK based FCA authorised escrow company helping businesses and individuals exchange assets and funds.
We were first set up in 2014 and we offer high quality and cost effective Escrow Services in a board range of transactions. Our dedicated team of staff strives to provide efficient and clear services, tailored to fit each individual transaction.
Riverside Escrow Limited is authorised by the Financial Conduct Authority as a Payment Institution under the Payment Services Regulations 2017 with registration number 920922 for the provision of payment services.
Please note that our authorisation with the Financial Conduct Authority (“FCA”) applies only in relation to payment services transactions (principally transactions involving the holding and payment of funds), it does not relate to any other form of escrow service offered by us – for example where we hold real property.
This means that the Financial Conduct Authority does not regulate us in respect of any escrow transactions other than payment services transactions.
As a result:
– we are not required to comply with the FCA rules in respect of services other than payment services
– the FCA does not regulate us in respect of any escrow services other than payment services
– payment services are the only type of service offered by us that users of our services are able to complain to the FCA about
– payment services are the only type of service offered by us that users of our services are able to complain to the Financial Ombudsman Services about.