Escrow Service. 19.1. It is possible for the bank to provide escrow services to the client in accordance with the procedures and conditions determined by the legislation of Georgia and the bank's internal regulatory documents.
19.2. In order to receive escrow services, the client must apply to the bank with the designated application specified in paragraph 1.2 of the agreement. The bank has the right to refuse to provide escrow services to the client without any justification.
19.3. Escrow service refers to the service where the bank meets the obligation to transfer the funds provided by the payer to the bank following the procedure and the conditions established by the relevant escrow service agreement upon the occurrence of the terms stipulated in the escrow agreement to the recipient, who is a party to the escrow agreement, and in case of non-fulfillment of the terms stipulated in the escrow agreement or immediately after the expiration of the escrow service - to the payer , in accordance with the escrow agreement;
19.4. Within the scope of the escrow service, the amount can be placed in the bank's internal bank account no more than 6 months after signing the contract on the escrow service.
Escrow Service. In order to subscribe to Escrow Service, the Client must make a request to the Custodian, which may provide the Client with a three parties agreement framing this service.
Escrow Service. Either Buyer or Seller may specify that the transaction be handled through Xxxxxx.xxx, an authorized and approved Escrow services provider with extensive experience in Domain name transfers.
Escrow Service. Buyer and Seller acknowledge and understand that the closing of the sale will be handled by an Escrow Closing Service and that Broker is authorized to transfer the xxxxxxx money or any other funds it receives to said Escrow Service before or at the time of closing. After said transfer, Broker shall have no further responsibility or liability to Buyer or Seller for the accounting of said funds. Escrow fees shall be equally divided between Buyer and Seller unless Buyer is obtaining a VA or FHA loan, then cost shall be paid by Seller. The identified Escrow Closing Service is as follows: . If the identity is unknown at the date of this contract, such identification will be made at the earliest opportunity.
Escrow Service. 3.1. When Escrow Funds reach a Seller's E-money Account, we will block them as 'held' and they will not be available to the Seller unless and until we release them in accordance with these Terms.
3.2. The Buyer must notify the Platform Operator when the Release Criteria have been satisfied in relation to a Transaction. If the Release Criteria have been satisfied and the Seller has no reason to believe that a Dispute has arisen or is likely to arise but the Buyer has not notified the Platform Operator, the Seller must promptly do so itself.
3.3. The remainder of this clause 3 is subject to clause 5.
3.4. We will release Escrow Funds in relation to a Transaction to the Seller if:
a) the relevant Buyer confirms to the Platform Operator that the Release Criteria have been satisfied and the Platform Operator duly notifies us;
b) the Seller confirms satisfaction of the Release Criteria on the Platform in accordance with clause 3.2 and the Buyer does not respond within 30 days to dispute this;
c) a Dispute is resolved in the Seller's favour pursuant to clause 4, provided that if the resolution entails only part of the Escrow Funds being released to the Seller, we will only release that part and will return the balance to the Buyer; or
Escrow Service. 9.1 Client may request Servicer provide the following property insurance and property tax service for first position Mortgage Loans in accordance with the fees structure set forth in Exhibit A hereto. Said fees will be added to the monthly loan servicing fee and prorated as appropriate. If this optional service is requested in writing or by email by Client and accepted in writing or by email by Servicer, and if all required information is supplied, then upon payment of the fees by the Mortgagor, Servicer will hold said monies in escrow and disburse the scheduled payments to the respective provider as needed. Any funds remaining in escrow after full repayment of the Mortgage Loan shall be released to the Mortgagor. Client may direct Servicer, upon acceleration of the Mortgage Loan due to default, in Client’s sole discretion, and subject to any applicable law, how to apply the escrowed funds (i.e., applied to advances, principal, interest or other expenses). Servicer accepts no responsibility for the consequences of incorrect information or instructions supplied by the Client. Servicer is not responsible for the consequences of any non-payment of insurance or property taxes. If any interest on the balances aggregated is required by applicable law to be paid to the Mortgagor for impounding Mortgagor’s monies, Client will be responsible to pay such interest on demand by Servicer. If a Mortgagor’s escrow funds are insufficient to pay insurance and/or property taxes, Client shall immediately advance to Servicer’s escrow account funds sufficient to cover the shortage. Client’s failure to do so may jeopardize Client’s lien position due to the failure of insurance and/or property taxes, and Servicer accepts no responsibility for Client’s failure to make such an advance provided such failure was not the result of an act or omission of Servicer or its agents, employees or vendors.
