An escrow service tailored to the aviation market has been launched by Securus Escrow. The UK company has identified a gap in the market "for a service which seeks to remove the elements of risk for buyers, sellers and financiers of aircraft by allowing clients to transact through a neutral third party".
Managing director Geoff Gates says: "We differ from other escrow agents on a number of levels. To begin with we insist on agreed terms and conditions between the parties involved. These have been drafted by lawyers who are very familiar with the industry and escrow services in general and have resulted in terms which aim to help avoid the possibility of any dispute between the parties concerned."
Security of funds is also high on the company's agenda. "It is essential for our clients that their funds are properly protected, which is why we have chosen to work only with internationally rated banks. Each customer transaction is given its own dedicated account. Funds are never commingled with other client accounts (unlike other escrow service providers) and we offer complete transparency on the account," says Gates.
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Source: Flight Daily News
