With our project escrow accounts, we help you to avoid the giving of personal guarantees when contracting for projects or events through offshore SPV's.
In particular, when dealing with offshore structures, experienced suppliers may ask you to enter into a performance bond, a personal guarantee or take some other form of payment insurance to ensure that the your payment obligations under the contract are met.
An alternative to such personal guarantees is for you to propose a project escrow account, whereby, for example, you will deposit one of the following with us:
- A rolling 3-months of payments (from the cashflow forecast);
- The full amount required to take the project to completion (on a declining balance); or
- The whole contract sum, as agreed between the parties.
Generally, from practical completion, the amount held on escrow is limited to the second half of any retentions.
DOS & Co. is proud to be supporting the launch of the Philanthropy 5 Lifestyle Philanthropy programme. We are providing strategic, legal and financial support to this exciting initiative.
The programme leverages the power of technology to support ongoing philanthropic giving by our clients, colleagues and contacts.
The premise is simple: Simply round up your transactions and donate them to your chosen causes.