ESCROW AGENT/PAYMASTER SERVICES
We offer Escrow Agent/Paymaster services to many clients, both domestic and foreign. We assist our clients in various dealings ranging from real estate to commodity transactions, such as PPE, oil, and gold.
All such transactions must be compliant with federal authorities, including the U.S. Treasury Department and Homeland Security. We assist and work with such clients to ensure prompt payment of their fees within the guidelines of governmental authorities and regulations.
Whether your transaction is for investments or M&A funding, construction, grant money disbursement, fintech payments, earnest money, or other commercial ventures, we can safely and reliably receive, verify, hold and disburse funds between Parties with a customized escrow agreement.
As an Escrow Agent, Gonzalez & Kochmann acts as a neutral third party to receive funds from any transaction between two separate individuals or businesses. The Escrow Agent maintains an escrow account, then disburses those funds to the seller. After taking a small commission as payment for his services the paymaster reconciles the escrow account and fills out the necessary IRS paperwork (only applied USA clients).
Most brokers will tell you that once they have arranged a Buy/Sell transaction they fail to receive their fees. By using our Paymaster service brokers can be sure that they will receive all commission payments on time.
Paperwork must include the following for all parties seeking to employ Gonzalez & Kochmann as their paymaster and escrow provider:
A copy of valid driver's license and/or passport.
Complete IRS form W-9 for U.S. citizens involved.
For non U.S. citizens: Completed IRS form W-8BEN.
Copy of all transactional documents, including payment agreement.
Completed and executed the Appointment of Escrow Agent agreement.
Payments and disbursements can only be made in the form of Federal wire transfers of SWIFTs. Cash, money orders or bank checks are not permitted.
The Escrow Agent may not provide legal services for any of the Paymaster clients, since it is considered to be a conflict of interest.
The Escrow Agent is not party to the transaction and does not know the exact time that it will close. Part of his job is to check periodically with the escrow account to ensure that the payment has been transferred in, then to disburse the funds as per his directions. Nor is the Paymaster allowed to disclose the identities of the parties to the transaction.
Escrow Agent services facilitate the transfer of commodities and financial instruments without the inconvenience that can arise through using Letters of Credit. No credit scores or bank references are required of either party. New companies with no established credit history can trade freely.
For further information, kindly contact us by email at: email@example.com.