Tripartite Escrow Company

Tripartite Escrow Company arranges three-party escrow agreements to protect payments on US government construction contracts. The mechanism directs the customer's payments into an escrow account and distributes the money to material and labour suppliers under the agreement.

Services The listed services are tripartite escrow and government-contract payment protection. For subcontractors and suppliers, the value lies in knowing that the contract payment goes into a controlled account instead of the contractor's general funds.

Fees The website states a fee of 2%, with no account-opening charge and an unlimited number of escrows.

Requirements Details of the contractor, the government customer and the suppliers are needed, together with a three-party agreement and an escrow account at a financial institution.

Who it suits Contractors and suppliers of materials and labour working on public-sector projects in the United States.

What to clarify Which agencies and contract types are accepted, how releases are approved and which bank holds the account are not described in the source data.