Odyssey Trust Company

Odyssey Trust Company provides short- and long-term custody of money and securities in escrow under the terms of a transaction. According to the description, it also invests funds as the agreement requires, makes staged payments and acts as escrow agent for subscription receipts.

Services

The listed services are escrow agent, subscription receipt agent and corporate trust. The assets held are money and securities. Subscription receipts are typically used in capital-raising transactions in Canadian markets, where the proceeds are held until closing conditions are met, so an independent agent is needed.

Markets and entity

The countries listed are Canada and the United States. The legal name is the same as the brand, and one published address is 860 Blue Gentian Rd, Suite 320, Eagan, MN 55121, USA. The profile does not name the regulator or the trust licence behind the Canadian operations.

Before engaging

Parties to a transaction should ask for the form of escrow agreement, the account structure, investment options for held funds, the fee schedule and the KYC documents the agent expects from each party, since these determine how quickly an escrow can be opened.