What is an Escrow Service?
An escrow service involves an agreement where a third party (the escrow agent) holds assets for two parties engaged in a transaction.
The escrow agent only releases the involved assets when predetermined contractual obligations are met, providing security that each party will fulfill their obligations.
Why use escrow services?
Protection
Our escrow service ensures fair and secure transactions with all parties protected.
Trust
Utilizing an experienced and neutral third party fosters trust in transactions, particularly when working with new or unfamiliar parties.
Convenience
Experience a hassle-free transaction process without concerns over the security and handling of funds or assets.
How do Escrow Services work?
Parties Involved
- The Depository: Transfers assets and funds to the escrow account or wallet for safekeeping.
- The Beneficiary: Receives safeguarded assets and funds upon fulfilling the release conditions.
- LEXR Finance (Escrow Agent): Holds assets and funds securely until the transaction is complete and all parties meet their obligations.
Options
Contact us for bespoke cryptocurrency arrangements (e.g., multi-signature wallets) or transactions involving non-monetary assets (such as intellectual property, software, or documents).
Steps
- Kick-off call: We assess your needs and discuss mutually acceptable escrow arrangements.
- Contract drafting: We create a personalized escrow agreement based on the initial call.
- Identification and account opening: We guide you through a smooth identification process for account opening and compliance with anti-money laundering obligations.
- Deposit: One party deposits the assets to be held in escrow, where they remain until agreed conditions are met.
- Release: Upon completing the transaction according to the escrow agreement, assets are released to the recipient.
Explore Blockchain Transactions
Using cryptocurrency or stablecoins like USDC, USDT, ZCHF, or XCHF can be a great alternative for your escrow transactions. This approach can save on transaction fees, remove the need for banks, and drastically reduce processing times. At LEXR, we use cutting-edge infrastructure to ensure your funds are secure and can be accessed and transferred around the clock.
Fees
Our escrow service fees start at CHF 10’000 and vary based on factors such as transaction volume, the number of parties involved, and the complexity of the escrow agreement. Book a free exploratory call to receive a full quote.
Why choose us?
In-depth market expertise
Collaborate with professionals skilled in tech, crypto, web 3.0, and M&A topics.
Comprehensive solution
Collaborate with registered attorneys of LEXR Law to meet all technical and legal expertise needs.
Agility
Benefit from rapid execution and seamless cooperation between finance, tech, and legal teams.
Pricing transparency
We offer flat-fee solutions whenever feasible, leveraging our efficient, digitized, and standardized processes.
SRO Membership
LEXR Finance, a Swiss AMLA financial intermediary, is affiliated with and supervised by the SRO VQF, adhering to best practices with regularly audited, up-to-date processes.
Disclaimer
The services showcased on this webpage are delivered by LEXR Finance GmbH, a financial intermediary affiliated with and supervised by the SRO VQF. These services are separate from those offered by LEXR Law Switzerland AG. Client-attorney privilege does not apply to services provided by LEXR Finance GmbH, and measures have been implemented to maintain a clear distinction between the activities of both entities.
Our Certifications and Partnerships
VQF
We are accredited by the SRO VQF, which means we are a member of the Financial Services Standards Association in Switzerland. The SRO VQF, recognized by FINMA, is a self-regulatory organization that ensures compliance with regulatory standards through supervision and annual regular audits of its members.
Fireblocks
We are a member of the Fireblocks network which signifies our commitment to top-tier security and efficiency in managing digital assets. Fireblocks, a leading platform, ensures secure self-custody, transfer, and issuance of digital assets using advanced technologies like Multi-Party Computation (MPC) and hardware security.
Escrow Service FAQ
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How does LEXR handle funds in an escrow transaction?
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Can I deposit funds to a standing LEXR bank account?
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How long does it take to set up a bank account for an escrow transaction?
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Can I use cryptocurrency for my escrow transaction?
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Can LEXR handle last-minute transactions?
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What are the fees for using LEXR's escrow services?
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Is LEXR affiliated with any regulatory bodies?
About us
We’re a growing team of 30+ legal professionals. Some of our experts include:
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