In a contract concerning the exchange of goods or services, each party may feel the need to protect themselves, in the negotiation phase, against the assumption that the reliability of the parties involved is not previously ascertained.
This caution is increased in the case of complex business from a structural point of view or particularly significant economic volumes.
In order to bridge this trust gap between the parties, international contracts have created "escrow agreements", by which the parties to the main contract decide to entrust a third and impartial "custodian" (called Escrow Agent or Escrow Holder) , the sums or securities covered by the main contract.
The custodian must release the sums to the seller or the securities to the buyer, upon the occurrence of certain conditions indicated by the parties in the contract. In case of non-fulfillment of the same, the sums or titles will be returned to the rightful owner. In the panorama of Italian law, the Notary has been perceived by the companies as the reference figure for the performance of the Escrow Agent activity by virtue of his legal preparation in the field of national and international civil and commercial law, and of the main characteristics that characterize the figure and profession of the Notary in Italy. Click here to learn more. Notai Trentini Riuniti offers to interested parties, even outside the national context, advice and assistance in all the phases that characterize the escrow contract, starting with the conception and drafting of the agreement, with special regard to the conditions under which the sums or securities must be released, upon the creation of a current account dedicated to the single deal and, obviously, to the operational part of the effective release of the sums. Notai Trentini Riuniti, relying on a trusted bank or indicated by the customer, for the establishment of the current account relationship, will take care of all the necessary anti-money laundering checks, strictly following the guidelines drawn up by the Bank of Italy and all the sector regulations. This extremely delicate phase is carried out with the utmost discretion and always in the interest of both parties, so that, in the event that the intermediary party wishes to keep the identity of the final buyer confidential to the seller, Studio NTR will use this information. only to carry out checks relating to anti money laundering and to inform the Bank of the origin of the funds used, while maintaining the utmost confidentiality regarding the identity of the final buyer towards the seller.