The financial custody provided by our law office is recommended to our clients to ensure that the contracting party will fulfil its part of an agreement or contract.
The financial custody is generally used during real property transactions, business transactions or commercial shares.
This service is an assurance for the seller, that the purchase price will be paid in the full amount. The buyer, on the other hand, does not risk money transaction before a record into the Land Registry is made.
The law office of JUDr. Dita Kmochová Stočesová provides money escrow services for a fee that depends on the amount deposited. The price includes the preparation of the attorney’s escrow agreement, the provision of escrow for the purchase price and documents, and the performance of all acts required under the Act on Certain Measures Against Money Laundering and Terrorist Financing (the “AML Act”), in particular all actions related to the verification and control of contractual parties under the AML Act. The funds received from clients are deposited in special escrow accounts held with GE Money Bank.
