Buy "Made in Russia" - it's safe!
With the "First Russian escrow agency" only bona fide suppliers work, which monitor the quality and timing of deliveries.
Business without borders without risks
With the "First Russian escrow agency", buyers always pay and pay on time.
Escrow agent services allow to ensure the fulfillment of obligations by the parties to the contract and to minimize the risks of breaking the contract or mosh.
+ 7(499)409-0159, GMT+3, e-mail: avis@myfaktor.ru
For the USA and Canada, check the time of the call in advance by e-mail.
What is the essence of escrow agent services?
You want to ensure for yourself that your partners will fulfill their obligations under the supply contract or any kind of services / works in an exact and specified time, to secure the financial side of the transaction. The best option in this case is to enter into a escrow agreement with the escrow agent.
Under the contract, the escrow agent opens an account for the recording and blocking of funds received from the account holder (depositor) with a view to transferring them to another person (the beneficiary) in the event of grounds provided for by the escrow contract. Terms of transfer of funds from the depositor to the beneficiary can be anything. For example: you are the first time working with a supplier and are not sure about the quality of the products delivered to them, and in the fact of the delivery itself.
Then in the escrow contract, the condition for the receipt of cash by the supplier will be the condition for the receipt of the goods and the implementation of the incoming control by the buyer. After you sign the waybill and the input control certificate, the escrow agent will transfer the funds to the supplier. In turn, a conscientious supplier will be sure that you have money to pay for the goods, and he will be guaranteed to receive them. Thus, with the help of an escrow agent, suppliers can provide additional guarantees to their customers, which will improve their business reputation, and the buyer will secure their purchases.
Эскроу. Услуги эскроу-агента в Росии. Условное депонирование. Сервис безопасные расчеты.
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Spheres of application
Real estate. In the world practice, conditional deposit is widespread in real estate transactions. The parties here are the seller, the buyer and the escrow agent, who monitors the transaction and issues the money to the seller only after signing all the necessary documents. In Russia, conditional deposit is provided for by the Civil Code Chapter.
Residential Properties. As of June 1, 2018, amendments to the Federal Law "On participation in the joint construction of apartment buildings and other real estate objects and on amending certain legislative acts of the Russian Federation" of December 30, 2004, N 214-ФЗ (edition of 31.12. .17), according to which now the interest holders have the opportunity to secure themselves by opening an escrow account in the bank. About the specifics of opening, maintaining and closing an escrow account for settlements under a contract of participation in shared construction can be found by opening the Civil Code of the Russian Federation part 2 Article 860.7-10.
Since the parties to the escrow account contract are the buyer (depositor), the seller (beneficiary) and the escrow agent, the buyer under the equity agreement has the full right to participate in the formation of terms under the escrow account agreement.
Factoring. In the event that the buyer uses conditional escrow in his practice, and the fact of receipt of the goods on the specifics is stretched in time (for example: delivery from Moscow to the regions), then factoring takes place for the period of the escrow agreement. Such a combination protects against the risk of non-payment and moshification not only of the seller and the debtor, but also a factor. Since the amount of the escrow contract can be assigned to the factor. In turn, minimizing risk means a lower percentage of factoring services.
Production. To produce complex, expensive equipment, a considerable period of time is required, and the terms of the contract often specify the calculation after shipment or receipt of equipment, and not infrequently for a certain period (for example: 60 days) from the time of delivery. In this situation, escrow agent services guarantee the manufacturer timely payment in accordance with the supply agreement, and the buyer's proper fulfillment of the delivery terms.
Wholesale and retail trade. The use of escrow agent services in the conclusion of sales contracts in a wide range allows to ensure the fulfillment of obligations by the parties to the contract and to minimize risks of disruption or fraud in wholesale and retail trade. An example is the purchase of jewelry, electronics, cars, luxury goods. You can safely sell and buy goods all over the world.
International commerce. The activity with the help of an escrow agent is suitable for Russian companies (sellers and buyers) and for foreign (non-residents of the Russian Federation) performing settlements in Russia. Escrow services allow both exporters and importers to protect the contract by placing funds in the hands of a trusted third party that retains funds and pays them when certain conditions are met by the instructions of the exporter or importer. The funds can be broken down into stages and paid to the beneficiary as they move towards the final result.
The scheme of escrow
The parties sign a triple escrow agreement.
security
The buyer transfers funds to the escrow agent's special account.
check_box
The seller fulfills the conditions of the escrow contract, the buyer confirms the fulfillment.
The escrow agent lists the money due to the seller.
Advantages of escrow
1. The term of the deposit agreement under Russian law is up to 5 years.
2. The purchase and sale of real estate under the escrow account agreement in Russia is insured by the state for up to 10 million rubles.
3. The parties may conclude a contract on the basis of which the escrow agent must be deposited property subject to transfer by the parties to the bilateral treaty to each other (mutual escrow).
4. The enforcement of the collection of deposited property, the seizure of such property or the taking of security measures for the debts of the escrow agent or the depositor by the legislation of the Russian Federation is not allowed. Those. the bankruptcy of the payer or the escrow agent does not affect the performance of the terms of the escrow agreement, and when the grounds for the escrow agreement are executed, the beneficiary will receive the funds that he deserves.
5. The parties to an escrow contract may be legal or natural persons.
6. The object of depositing may be movable items (including cash, documentary securities and documents), non-cash funds, uncertificated securities.
About our escrow agency
The main difference and advantage of our escrow agency is that we had come a long way before doing this unique activity. Escrow is not our first business. But, according to the general opinion, this is the business that now binds us for many years to come. Gained experience in doing business in completely different areas (construction, real estate, alternative energy, securities market, factoring, food processing, investment activities, security systems, international commerce, and others) now comes in handy.
We are proud to be the first escrow agency to appear on the territory of Russia. Yes, there were electronic escrow services before us, but other articles of the civil code were the basis for their activities and rather they were just services of safe calculations. The article, which allows to fully engage in escrow, simply did not exist. And customers did not have any guarantees, except for the goodwill of the escrow service, that the funds transferred to the deposit will be used for their intended purpose. And the more there were no guarantees in case of bankruptcy of the escrow service or one of the parties to the contract. Honor and praise to those services that worked in these conditions in good faith!
From 01.06.2018, amendments to the Civil Code of the Russian Federation came into force, a separate article “Escrow” appeared, and the definition of escrow was given. This allowed us to register a full-fledged escrow agency based on a solid legal basis. The registration date of LLC “First Russian Escrow Agency” was 01.06.2018, which coincides with the entry into force of the article on escrow.
Contrary to popular belief, in our opinion, an escrow agent should know as much as possible (everything about everything). For example, in the USA there are courses in some universities for the training of escrow agents. Because in the process of work it is necessary to draw up escrow contracts of different scales and in various business areas, between regions and representatives of foreign countries, between physical. by individuals. And, nevertheless, in our work we never rely only on our own opinion, our escrow agency constantly resorts to consultations with trusted lawyers, financiers and other specialists and our partners.
In our view, escrow is so flexible and unique tool that, in combination with other financial instruments, it will literally find a way out of a seemingly hopeless situation. A huge role in such cases is played by a detailed and comprehensive elaboration of the escrow agreement and the study of the specifics of the company’s activities, the accompanying agreements between the parties.
So, for example, we use escrow to promote startups, expanding sales markets for enterprises that have already established themselves in their region and want to develop the geography of their presence further into the flesh before entering export markets. Our special unit assumes the role of a trading house, in cases where the manufacturer does not have the opportunity to spend time on the procedure to start export activities. Our partners from Germany and other countries, as well as relevant Russian organizations involved in the development and support of exporters, help us with this.
Proper use of the services of an escrow agent is the key to success and a guarantee against annoying losses when working with unscrupulous partners, which is why the service “First Russian Escrow Agency” best describes the phrase: “We do not follow the rules, we create them”