Escrow is a way of managing a transaction where funds are released only after agreed conditions have been met. It provides both parties with greater transparency and confidence by ensuring that the agreed requirements are followed before the funds are released to the relevant party. TrustIn facilitates the escrow process by coordinating the transaction requirements and supporting the release of funds in accordance with the agreed terms. A dedicated IBAN is provided for the escrow account, making it convenient for the relevant parties to arrange the transfer of funds.

The escrow platform provides a seamless and structured way to facilitate transactions between buyers and sellers. It helps ensure that the agreed transaction conditions are clearly defined and followed throughout the transaction process. The platform supports all relevant parties, including buyers, sellers and brokers, by providing greater transparency and clarity over the transaction. Funds are routed or released in accordance with the pre-defined conditions agreed by the parties, helping to provide greater control and efficiency throughout the transaction process.

TrustIn Platform is powered by Emirates NBD and is incorporated (registration number 000008461) under the laws of the Abu Dhabi Global Market (ADGM). We are licensed and regulated by the Financial Services Regulatory Authority (FSRA) for Providing Money Services under Category 3C Financial Services Permission number 240003.

To open an escrow account, first you need to sign up as buyer/seller and complete your eKYC/KYB.
i. The following documents are required for the KYB (Know Your Business) process:
1. Certificate of Incorporation/Valid Trade License/Company Registration details of the entity
2. Memorandum of Association/Articles of Association of the entity
3. Valid ID (Emirates ID or Passport) copies of the partners/owners (Holding more than 25%)
4. Letter of Authorization and ID (Emirates ID or Passport) copy of representative if he initiates on behalf of the entity
5. Authorization is required if a minor shareholder (holding less than 25%) initiates on behalf of the entity
6. In addition to the above, the platform may request additional documents for compliance requirements. ii. The documents required for Individual Customers for KYC includes:
1. Your Emirates ID/Passport
2. Your proof of address

As of now, there is no limit on the amount.

You can use either of the following methods to deposit funds into your escrow account:
i. Deposit fund into your IBAN escrow account directly doing bank transfer method.
ii. Deposit fund into your IBAN escrow account using UAEPGS.
iii. Deposit fund into your IBAN escrow account using other PA/PG solution.

Money is held safely in one of the largest Central Bank of UAE Regulated Banks… held under name of the buyer in Client Money Account. It is a tri-party account, where the buyer is the primary account holder, seller is the secondary account holder and our partner bank will be the third party

An escrow agreement is a legally binding contract or arrangement that outlines the terms, conditions, and responsibilities of the parties involved in an escrow arrangement. This agreement defines how assets or funds will be held by a neutral third party (the escrow agent) and the conditions that need to be fulfilled in order for the funds to be released to the designated parties.

You can not cancel escrow agreement after the funds are added, however you can raise a dispute.

"Escrow as a service" refers to the services provided by a neutral third-party that legally oversees the escrow process, holds funds, assets, or other important documents on behalf of two parties involved in a transaction until specific conditions or obligations mentioned in the financial agreement are met. This minimizes the risk for both parties and helps ensure trust and security in the transaction for everyone involved.