Securus Escrow Limited Services

Escrow Services

…retaining and managing of the escrow account

In the initial stages of a transaction the relevant parties agree to appoint Securus. The first part of the process will normally be to lodge a deposit against the aircraft with Securus. This is held according to the terms agreed between the buyer and seller. As the transaction progresses and the parties move towards completion, the buyer (or its financier) will lodge the balance of the purchase price with Securus.

The funds may be deposited into a designated escrow account. All our accounts are held with rated and secure internationally established financial institutions. Our main branch is in London, United Kingdom and we offer sterling, dollar and euro accounts.

Whilst funds are being deposited, concurrently the seller will deposit the necessary aircraft title documents with the escrow agent. Usually this will involve a deposit of a properly executed (but undated) bill of sale transferring title to the aircraft, from the seller to the purchaser.

If the seller has financed the aircraft and liens or charges exist on the aircraft, the seller's bank will be called on to submit any necessary documentation to release its liens simultaneously with completion of the transaction.

On completion of the transaction, each party will instruct Securus to release the documents and the funds and the transaction can conclude.

Process Agent Services

…acceptance and distribution of documents to designated recipient

The process agency service offers a means of providing an address for buyers and sellers within the jurisdiction of the United Kingdom. This gives parties the opportunity to appoint Securus to accept legal documentation on their behalf in the United Kingdom.

Clients can then be assured that important notifications are dealt with efficiently, avoiding any loss of time which could be detrimental to the transaction.

Completion Services

…finalising the transaction

To complete the transaction, typically the parties will notify Securus that they are ready to complete. Securus will confirm to both parties that it is holding the agreed documentation and will confirm the condition of the documentation. Securus will then confirm the amount of funds it is holding. All being in order, the parties can meet in person or by way of telephone conference facilities on an agreed date and time for the Closing Call.

During the Closing Call, Securus will be asked to confirm it has the requisite documents and purchase monies. Each party will instruct Securus to release and the transaction can conclude. It is essential to note that this will usually signify that title to the transaction has then completed and the aircraft has been sold.

It is imperative both sides take professional legal, tax and insurance advice before this stage.