ESCROW FEES

The Tripartite Escrow Company Service Agreement may be terminated by either party at any time, subject to the terms, conditions, and provisions set forth therein. Such termination shall not affect any rights, obligations, or liabilities accrued prior to the effective date of termination.

Upon the establishment and approval of a client account, the client shall be eligible to request the issuance of one or more Tripartite Escrow Agreements from time to time, as may be required. Each request shall be subject to review and acceptance in accordance with applicable policies, procedures, and regulatory requirements.

Fees for the issuance and administration of Tripartite Escrow Agreements shall be assessed in accordance with the fee schedule set forth below and shall be payable as provided therein.

Tripartite Escrow Agreements Fee:

1. The escrow fee shall be two percent (2%) of the original contract amount.

2. No additional escrow fees shall be assessed for any changes, additions, amendments, modifications, or change orders relating to the original contract.

Payment terms:

1. Following Government approval of the Tripartite Escrow Agreement, the Contractor shall be invoiced for all applicable fees and charges associated with the issuance and administration of the Agreement.

Included Services and Fees:

1. Account Setup. Establishing a Tripartite Escrow Company (TEC) account is provided at no charge.

2. Cashier’s Checks. Cashier’s checks issued pursuant to a Payment Authorization Form are provided at no additional cost.

3. Contract Modifications. No fees shall be charged for approved changes, additions, amendments, or modifications to a Tripartite Escrow Agreement.

4. Redrafting Services. Redrafting and document preparation services associated with amendments or additions to a Tripartite Escrow Agreement are provided at no charge.

5. Delivery of Escrow Agreements. Tripartite Escrow Agreements shall be delivered to the Contractor and the Government via USPS Priority Mail at no additional cost.

6. Delivery of Cashier’s Checks. Cashier’s checks shall be delivered to the Contractor and/or designated supplier or subcontractor via USPS Priority Mail at no additional cost.

 

7. Wire Transfers. Wire transfer services are available for a fee of Fifty Dollars ($50.00) per Payment Authorization Form.