Bianchi Fasani Law offers Paymaster services to many clients, both domestic and foreign. We assist our clients in various dealings ranging from real estate to commodity transactions, such as oil, jet fuel, gold and diamonds.
A Paymaster Attorney acts as a neutral third party to receive funds from any transaction between two separate individuals or businesses. The Paymaster maintains an escrow account, then disburses those funds to the seller or the appropriate recipient. After taking a small commission as payment for his services the paymaster reconciles the escrow account and fills out the necessary IRS paperwork.
Placing the funds in escrow with a neutral and trustworthy third party reduces the risk to the parties involved in these transactions, for example buyers and sellers in a purchase of a particular asset. It assures the seller that sufficient funds are available for payment, and it allows the buyer to receive title to the goods in question.
Note: Payments and disbursements can only be made in the form of Federal wire transfers of SWIFTs. Cash, money orders or bank checks are NOT permitted.