ESCROW

Introducing our Aviation Law Services

 

In recognition of his expertise, Ian Gee is recommended in the Legal 500 for his aviation practice.

Escrow Payments - Aviation

Why should I consider using an Escrow service?

The sale and purchase of aircraft is a complex process and involves the transfer of large sums of money and legal documents, not only between the buyer and seller but also between banks, national registries and other bodies.

Because of the complexities involved, it is highly recommended that an experienced Escrow Agent is employed to act as an independent third party during the sale and purchase of aircraft to provide added security and ensure the transaction is completed as seamlessly and efficiently as possible.

The Escrow Agent may hold all documents and funds involved in the sale and purchase of the aircraft as an impartial agent and will then be responsible for releasing and delivering them to all relevant parties in one seamless action upon completion.

 

What processes are involved in Escrow?

If you decide to appoint JWK Solicitors to act as Escrow in the sale and/or purchase of your aircraft, we will provide you with an Agreement which will explain our responsibilities and fully detail the transaction that we have been asked to process.

The Agreement is a legal document and on acceptance we will arrange for the deposit from the buyer to be paid into a designated account and request the seller's documents are sent to us.

We will then check all documents are in place and arrange for the balance of the payment to be paid by the purchaser into the designated account.

When the purchaser has instructed us that all is in order for Closing, we will then remit the funds to the seller / repay any specified debt on the aircraft of which we have notice and send the seller's documents to the purchaser.

Both parties will be kept up-to-date with each stage of the process as it happens.

To facilitate Closing or during any other stage, we have telephone conference facilities.

In-house languages spoken include French, German and Spanish

 


JWK can help you. Get in touch today

Do you have a question or would you simply like some more information? You can contact JWK Solicitors on 01524 598300 between 9am to 5pm every weekday or use our enquiry form.