HOW IT WORKS
Bay Islands Escrow?
How does it work
BIES is a neutral third party that can be trusted by all parties involved. BIES is a US Corporation with banking in the United States, so we are your best choice. BIES provides:
Security – All parties to the Escrow agreement are ensured that payments will be made only once all established conditions are met as set forth in the legal agreements. In addition, BIES holds Errors and Omissions insurance to mitigate any potential risks at the time of transfer of funds.
Efficiency – Funds are managed and distributed in a timely manner to the receiving party, usually within 24 hours of receipt of instructions.
Confidentiality - We respect our customers privacy so you can be rest assured that your transactions will be treated with a high degree of confidentiality.
Transparency – Documents for the transaction are available to all parties involved in the contract.
Coordination - Acting as a single point of contact, BIES will coordinate with all third party service providers (attorneys and brokerages) to close the transaction, including:
• Review the escrow agreement and instructions
• Establish the escrow account as specified under the agreement
• Comply with depository duties and disburse funds as provided under the agreement
• Provide statements and reporting as required
• Assist in resolving issues related to escrow