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WorldEscrow N.V./S.A.
Your Business Continuity, our Service.

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Contact us

Worldescrow N.V.
Graaf van Egmontstraat 15 bus 1
2800 Mechelen
Tel +32 (0)15 20 44 50

Flanders Bio

WorldEscrow - escrow agent: the way we do things

Different companies operate under different practices, often with different guidelines and differently organised operations. In that aspect, WorldEscrow is no different than any other company: WE has a distinct operational mechanic to execute its service. In our case, that mechanic consists of five steps:

Step 1 - setting up the agreement

It all starts with the arrival of a request for information. WorldEscrow gets contacted, and one of our staff members will interpret the problem based on the given information. In most cases, a representative will get in direct contact with the requesting party to fine-tune the initial advice offered.

Once the advice has been presented and the client has made an informed decision on which road to take, the actual negotiations start. Here, the main three parties (supplier, user and WorldEscrow) - or, in case of a frame agreement: supplier and WorldEscrow - will create their own proper escrow agreement. An Escrow agreement has to be accepted by all parties involved, but what counts for us is whether we can practically execute it and it doesn't break our quality standards.

Step 2 - requesting the deposit

The requesting of the deposit is the most important moment in a year for every Escrow agreement. In the existing contracts, deposits are requested two months prior to the contractual due date. This procedure provides the supplier with adequate time to prepare his deposit, and we gain adequate time to actually verify the deposit before the due date. Quite often, the due date is somewhat impractical for the supplier (due to a release coming out later that year, or a planned update or temporary staff shortage), in which case, we freeze the request for a short amount of time and start up again at the supplier's convenience - although we organize a strict follow-up.

Step 3 -delivery of the deposit

Deposit has been requested in accordance with the terms of the contract, now it's time for the supplier to actually deposit. WorldEscrow offers secured on-line depositing or physical carrier delivered via courier. We hold no preferences.

Step 4 - verification

In every verification, our technical service strives to be as transparent as humanly possible. The beneficiary's interests are the key determinant here, as they define how in-depth our verification goes. The supplier is, however, actively part of the verification process, as he helps us understand the inners and outers of the product. On top of that, a verification process is an exercise in knowledge management for the supplier, as the product gets described in the most structured way possible - thus safeguarding the knowledge within the deposit for the supplier as well.

Step 5 - Partner satisfaction

At the end of the day, our goal is to provide the clearest, most transparent, most qualitative and most satisfying service possible for all parties involved. With that in mind, we like to keep a finger on the pulse of our agreements and contacts. While this is often a tedious task, it helps to have an excellent relation with our customers, effectively lifting our relationships from the mere economic to the supportive believer. Our customers are not just customers, they are our partners and - if we did it right - we are theirs.

For more info on the practical execution of an Escrow agreement, check out our updated webpage on the matter here.

Feel like joining WorldEscrow's community of partners? Give us a call, send us an email, or simply Contact us.