Lucerne – Maastricht
Lucerne – Maastricht
Luzern - Maastricht
Люцерне - Маастрихт
Luzern - Maastricht
لوسيرن - ماستريخت
Paymaster services & Escrow management
“Window of the World” offers paymaster and escrow management services to many clients, both domestic and foreign.
Paymaster Service
Paymaster service providers facilitate the transfer of non-cash assets around the world. They receive payments on behalf of their clients, disburse funds to many different recipients and file the necessary paperwork, ensuring everything is compliant with the law. The nature of escrow management presupposes a trust-based relation between parties.
Escrow Agent
In Switzerland, the function of an Escrow Agent is restricted to an attorney at law, a fiduciary, or a legal entity as “Window of the World AG” with membership to the Self-Regulatory Organization (SRO).
An escrow account is a special kind of bank-account that is used for depositing funds in a transaction between two parties to secure its closing. The subject of depositing can be the sales price for real-estate or a commodities trading purchase agreement, financial instruments like shares, bonds, debt notes, intellectual property rights, documents, software, data etc., or any other transactions, where an independent party is required for the safekeeping of the funds.
The escrow service fall under the anti-money laundering provisions and is only authorised if the service provider is accredited by the official bodies of Switzerland. In practice this means, that it is necessary to follow a diversity of rules and act in order to prevent financial crimes (Anti-Money Laundering) and terrorism. Subsequently the procedure requires a legal framework with documentation and high level of responsibility from the escrow agent within the guidelines of governmental authorities and regulations.
