California Escrow Law and Attorneys: When Is a License Needed?
California licenses escrow companies, but attorneys holding funds for their own clients are treated differently. Here is the general framework.
Paymaster and escrow attorney articles
Plain English guides for clients of paymaster and escrow services. General information only, not legal advice.
Crypto OTC Trades: How Attorney Escrow Works on the Dollar Side
In an over the counter crypto trade, one side sends dollars and the other sends coins. Attorney escrow can hold the dollars while the coins are delivered.
How to Choose a Paymaster Attorney: 10 Questions to Ask
Before you send money to anyone's trust account, ask these ten questions. The answers tell you a great deal about how your funds will be handled.
Know Your Business: Documents a Company Needs Before Funds Move
When a company is a party, the paymaster must confirm the company is real, in good standing and controlled by the people who say they control it.
Oil and Petroleum Deals: Where an Attorney Paymaster Fits
Oil product deals involve sellers, buyers, mandates and brokers. Here is how payment usually flows and the narrow but useful role a paymaster plays.
Proof of Funds, MT103, MT760 and SBLCs: What a Paymaster Can and Cannot Do
Requests for bank messages and comfort letters are common in commodity deals. Here is what they are, why a paymaster does not issue them, and what it can do instead.
Using Attorney Escrow for Gold and Precious Metals Purchases
In a gold purchase the buyer wants the metal before paying and the seller wants payment before shipping. Attorney escrow can bridge that gap.
What Happens to the Money if a Deal Falls Apart?
Not every deal closes. A good agreement says in advance what happens to the money when one does not, and protects everyone from a tug of war.
Writing Clear Release Conditions for Attorney Escrow
The release condition is the heart of any escrow. Clear, objective conditions get funds paid on time; vague ones cause disputes.
IMFPA Commission Agreements Explained
What an IMFPA is, what it should say, and the mistakes that delay commission payments.
International Transactions: SWIFT Wires, Sanctions and Timing
Why international wires can take longer, what intermediary banks do, and how sanctions rules affect who can be paid.
Know Your Client: Why Your Paymaster Asks So Many Questions
Identity checks, source of funds questions and sanctions screening: what they are for and how your information is kept safe.
Signing Your Paymaster Agreement Online: Are E-Signatures Valid?
Electronic signatures are valid for most business agreements. Here is how the firm's secure online signing works.
W-9 or W-8BEN? The Tax Forms Your Paymaster Needs
A quick guide to which IRS form you need, where to get it, and why it is requested.
Wire Fraud: How to Verify Wire Instructions Before You Send Money
Criminals send fake wire instructions that look exactly like real ones. A single phone call is the best defense.
Red Flags in Oil, Gold, PPE and Crypto Deals: How to Protect Yourself
Commodity and digital asset deals attract fraud. These warning signs appear again and again.
Documents You Need Before a Paymaster Can Receive Funds
A checklist of everything you will be asked for, so your transaction is not held up waiting for paperwork.
IOLTA Trust Accounts Explained: Where Your Funds Are Held
What an IOLTA account is, the rules that govern it, and what records you can expect from your attorney.
How Commission Disbursement Works in Commodity Transactions
From the signed commission agreement to the final wire: how brokers are paid when a commodity deal closes.
Attorney Paymaster vs. Escrow Company: Which One Fits Your Deal?
Escrow companies and attorney trust accounts both hold money for transactions, but they work differently and suit different deals.
What Is an Attorney Paymaster and When Do You Need One?
A plain English explanation of the paymaster role, the written agreement behind it, and the situations where it is useful.
Discuss your transaction with the attorney
Contact Bahram Madaen. Fees quoted per transaction. Please contact Bahram Madaen directly for a price. Every fee is set out in a written agreement before any funds are received.