Escrow

North Studio is a trusted web and digital intelligence agency founded in 2001.

Our Intellectual Property Escrow services facilitates the transfer of domains, websites, web presence, and all digital intellectual property from seller to buyer.

We are fully insured and bonded for $1,000,000 by Seafirst Insurance based in Victoria, BC, Canada.

PROCESS

• We can be retained by either the Seller or by the Buyer.
• Both parties will review, and sign our Services Contract before we proceed.
• Seller and/or Buyer will provide us with either a Contract of Sale, or an outline of their agreement upon which we will then prepare a Contract of Sale for both parties to review and execute when completed to their mutual satisfaction. We are not lawyers and independent legal advice should be obtained for any legal advice.
• Upon our Services Contract, and the Contract of Sale having both been signed by both parties the Buyer will transfer all funds in escrow trust to North Studio.
• Upon North Studio confirming to Seller that we are in receipt of all cleared funds from the Buyer, the Seller will transfer all assets as per the Contract of sale to escrow trust to North Studio.
• Upon receiving all assets from the Seller North Studio will review and inspect said assets with the Buyer for Buyer’s approval to release funds to Seller and proceed to transfer all assets in escrow trust to Seller.
• In the event the Buyer does not approve the assets upon review then North Studio shall forthwith return all assets to the Seller.
• Upon successful completion of the escrow transactions both seller and purchaser will sign a completion and release agreement.

FEES ($CAD) PAID BY PURCHASER

• Starting at $750.00 non-refundable retainer which is applied to the overall fees. If deal is not completed North Studio will not refund the retainer
• 10% of the first $10,000 and 5% of the remaining balance with a minimum $750
• Payments accepted are bank draft, etransfer, PayPal, or Credit Cards (+3%)
• Payments made to Seller are made by any of the same methods.

TIMELINE

Will vary from deal to deal, however, an average of 10 days is typical.