Please note that due to the heavily regulated nature of escrow services LINDEMANNLAW does not conduct any escrows in financial instruments except non listed shares and that the minimum fee for the service will be CHF 15’000.
What is an “escrow”?
As a trusted, independent and reliable third party, the Swiss law firm may temporarily hold assets for two other parties during a transaction.
- a company is sold and the seller wants to be sure that he will receive the money and the buyer that he will receive the shares. A property abroad is sold and the parties want to be sure that the transition is orderly and that the money is paid.
- Assets can be anything, including contracts, documents, warranty claims, pictures, yachts, software.
- The law firm will only pay the money when the conditions agreed by both parties are met.
- The law firm acts as an escrow agent and usually selects a bank to handle the payment.
- The advantage of a Swiss law firm may be that the attorney-client confidentiality of the transaction is maintained and therefore all the due diligence and money laundering investigations take place within the firm and do not require the involvement of the bank. The same strict guidelines apply of course, only the circle of initiates is limited.
Why choose LINDEMANNLAW as escrow agents?
- We have drawn up specific framework agreements for escrow agreements and examined them through experience.
- We are an independent Swiss law firm, which benefits all parties.
- The agreements are adapted to the individual needs and conditions of the parties or their advisors.
- This procedure saves time and costs.
- Assets can, of course, be managed in the escrow account during this time, for which we work with banks or external consultants on a case-by-case basis. We work with first-class banks in Switzerland, Liechtenstein and Luxembourg, but we are also flexible in accepting additional institutions of the parties’ choice.
- We provide transparent and timely information.
- We can keep contracts, data carriers and other physical objects or recommend a custodian – e.g. for works of art.