AGREEMENT FOR CUSTODY AND CONDITIONAL RELEASE OF FUNDS

 

 

Between the Parties:

 

(1) BUYER: [Full legal name]

Address: [●]

Registration / ID: [●]

 

(2) SELLER: [Full legal name]

Address: [●]

Registration / ID: [●]

 

(3) ESCROW AGENT:

INTERNATIONAL MEDIATION AND ARBITRATION CHAMBER LLC (IMAC)

IMAC Inter Solutions — Escrow & Trade Protection Division

Email: [email protected]

Tel/WhatsApp: +1 704 575-0537

 

Hereinafter collectively referred to as the “Parties.”

CLAUSE 1 — PURPOSE

This Agreement establishes the terms and conditions under which the Escrow Agent (IMAC) shall hold, administer, and release funds deposited by the BUYER in a neutral manner, subject to the fulfillment of the contractual obligations established between BUYER and SELLER.

CLAUSE 2 — COMMERCIAL CONTRACT

This Agreement is linked to the International Commercial Purchase and Sale Contract executed between BUYER and SELLER on [date], concerning:

Product: [●]

Quantity: [●]

Total Value: [●]

Delivery Terms: [FOB/CIF/etc.]

CLAUSE 3 — FUND DEPOSIT

3.1 The BUYER shall deposit the amount of USD [●] into the designated escrow account.

3.2 The funds shall remain under neutral custody until verification of contractual performance.

3.3 The Escrow Agent shall have no ownership rights over the funds except as provided in this Agreement.

CLAUSE 4 — RELEASE CONDITIONS

Funds shall be released only when:

a) The SELLER has fulfilled contractual obligations;

b) Shipping documents have been verified;

c) Contractual conditions have been satisfied;

d) No formal dispute is pending.

 

Partial releases may occur according to contractual milestones.

CLAUSE 5 — MONITORING

The Escrow Agent may:

• Verify documentation

• Monitor shipment and performance

• Request additional information

• Suspend release in case of irregularities

CLAUSE 6 — DISPUTES

6.1 In case of dispute, funds shall remain blocked.

6.2 The Parties agree to submit to IMAC institutional mediation.

6.3 If controversy persists, binding arbitration shall apply under IMAC rules.

CLAUSE 7 — LIABILITY OF THE ESCROW AGENT

The Escrow Agent:

• Acts as neutral custodian

• Is not a commercial party to the transaction

• Does not guarantee commercial performance

• Does not assume financial risk of the Parties

Liability is limited to willful misconduct or gross negligence.

CLAUSE 8 — COMPLIANCE AND ANTI-FRAUD

The Parties agree to:

• Comply with KYC/KYB requirements

• Provide truthful documentation

• Respect applicable international laws

• Submit to compliance verification

CLAUSE 9 — CONFIDENTIALIT

All information, documents, and terms of the transaction shall remain confidential, except as required by law or authorized in writing by the Parties.

CLAUSE 10 — FEE

Escrow Fee: [● % or fixed amount]

Payment Responsibility: [Buyer / Seller / Shared]

CLAUSE 11 — GOVERNING LAW

This Agreement shall be governed by the laws applicable to the jurisdiction defined by IMAC, considering the international nature of the transaction.

CLAUSE 12 — TERM

This Agreement shall remain valid until:

• Completion of the transaction; or

• Resolution of dispute; or

• Formal termination by the Parties.

CLAUSE 13 — SIGNATURES

BUYER

Name: __________________

Signature: ______________

Date: __________________

SELLER

Name: __________________

Signature: ______________

Date: __________________

ESCROW AGENT — IMAC

International Mediation and Arbitration Chamber LLC

Signature: ______________

Date: __________________