Escrow accounts for international transactions are often necessary in trade, to ensure the goods purchased by the buyer are received in good order and according to the buyer’s agreement with the seller.
PMF can provide the buyer and seller with peace of mind, through PMF Escrow Accounts (referred to as “PEA” accounts) so funds for their transaction are secure. Additionally, PEA accounts are FDIC covered accounts insured by the United States Government. PMF also serves as a 3rd party in the transaction to insure proper release of funds according to the irrevocable terms of the PEA escrow.
For example, a typical buyer would open a PEA account and provide specific terms for the seller. If the seller agreed, then PMF would open a PEA account with both parties’ approval and the seller would wire funds to held in an FDIC insured account until transaction was concluded. Upon successful delivery of the the sellers’ goods to buyer, PMF would release funds to the seller.