Choosing an escrow company to manage your escrow transaction requires some due diligence. An escrow is set up to protect all parties involved in a given transaction, and prior to signing a contract, it’s a good practice to verify the expertise, level of security and standards of customer service that you expect from the company that will be facilitating your escrow arrangement.
There are many states that do not require the registration or licensure of escrow agents. Knowing how and where your escrow funds, documents and proprietary information are being held is critical. The safety and security of funds through timely confirmation and verification of funds through electronic banking is a must for cash holding and loan servicing escrows. Authentication of secure depositories for digital and software source code escrows in a secure environment is paramount.