The Escrow Disbursement Agreement is essential in transactions where parties require a trusted third party to hold and manage assets or funds until specific conditions are met. This document type is particularly relevant in Switzerland, given its reputation as a global financial center with strong banking secrecy laws and robust financial regulations. The agreement is commonly used in various contexts, including M&A transactions, real estate deals, international trade, and complex commercial arrangements. The document establishes the framework for the escrow arrangement, including detailed procedures for deposits and disbursements, the escrow agent's duties, and compliance requirements under Swiss law. It provides security to all parties by ensuring that assets are properly managed and released only when predetermined conditions are satisfied, with the added benefit of Swiss legal protection and banking infrastructure.
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1. Parties: Identification of all parties: Depositor(s), Beneficiary(ies), and Escrow Agent
2. Background: Context of the escrow arrangement and the underlying transaction necessitating the escrow
3. Definitions: Definitions of key terms used throughout the agreement
4. Appointment of Escrow Agent: Formal appointment and acceptance of the escrow agent's role
5. Escrow Deposit: Details of the assets to be placed in escrow, timing, and delivery method
6. Escrow Agent's Duties: Comprehensive list of the escrow agent's responsibilities and standard of care
7. Disbursement Conditions: Specific conditions that must be met for the release of escrow funds/assets
8. Disbursement Procedure: Step-by-step process for releasing the escrow funds/assets
9. Fees and Expenses: Escrow agent's compensation and allocation of costs
10. Liability and Indemnification: Limitations of escrow agent's liability and indemnification provisions
11. Term and Termination: Duration of the agreement and circumstances for termination
12. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction for disputes
13. Notices: Communication procedures and contact details for all parties
14. Miscellaneous: Standard boilerplate provisions including severability, amendments, and entire agreement
1. Dispute Resolution: Detailed dispute resolution procedures, including mediation or arbitration - include when parties prefer alternative dispute resolution to court proceedings
2. Interest on Escrow Funds: Provisions for handling interest earned on escrow funds - include when dealing with cash deposits in interest-bearing accounts
3. Multiple Party Provisions: Special provisions for handling multiple depositors or beneficiaries - include when more than two principal parties are involved
4. Tax Provisions: Handling of tax implications and responsibilities - include when tax consequences are significant consideration
5. Force Majeure: Provisions for handling extraordinary events - include when dealing with long-term escrow arrangements
6. Compliance with Anti-Money Laundering Laws: Specific AML compliance obligations - include when dealing with large sums or international transfers
1. Schedule 1 - Escrow Property Description: Detailed description of the assets being placed in escrow
2. Schedule 2 - Fee Schedule: Detailed breakdown of all fees and expenses
3. Schedule 3 - Disbursement Instructions: Specific instructions and forms for requesting disbursement
4. Schedule 4 - Required Documentation: List and forms of all documents required for disbursement
5. Schedule 5 - Authorized Signatories: List of persons authorized to give instructions regarding the escrow
6. Appendix A - Form of Disbursement Request: Standard form for requesting disbursement from escrow
7. Appendix B - Form of Release Notice: Standard form for confirming conditions have been met
8. Appendix C - Contact Details: Comprehensive contact information for all parties and authorized representatives
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