Escrow service providers act as independent third parties to transactions.
Escrow is the term used when a contractual arrangement is put in place between two or more parties as part of a transaction. The escrow service provider agrees to hold the funds or property due to be transferred between the parties, for the duration of the transaction, and acts as a neutral party.
An escrow agreement is put in place to govern the conditions under which the escrow service provider will hold the funds / property, and when they will release them to the receiving party. The conditions that determine the release will be drafted to suit each individual project and will be agreed by all parties before the funds / property is deposited with the escrow service provider.
The escrow providers role in transactions is limited to the holding and release of funds or assets once the relevant escrow conditions are met. They are not authorised to advise on the legitimacy of projects or provide financial advice. For more information please visit our FAQ’s.
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.