Master Escrow Service Agreement (MESA)
A master escrow services agreement is established between a provider and TVPX which allows TVPX as the escrow agent to enter into transaction specific escrow agreements to handle the sale/ purchase of a particular policy. Specific escrow services may include the following:
- Purchase funds depository and funds verification
- Establishment of sub-account for each individual policy – policies and funds are not commingled
- Safekeeping of collateral packages
- Execution of policy documentation as needed
- Verification of policy ownership transfer
- Payment of purchase proceeds to seller and other parties as directed
- Collateral packages forwarded to purchaser