The energy transition is unstoppable. Yet, the implementation of projects in the renewable energy sector, such as the installation of a PV system, charging points or storage facilities, carries the risk that one party may fail to deliver the agreed-upon performance — especially in the current volatile economy and amidst global uncertainties.
We invite you to reduce the economic risk of non-performance with CMS as a strong partner, swiftly and effortlessly, even in large transactions. With the implementation of an escrow mechanism, both performance and consideration can be secured by releasing purchase price installments safely and punctually upon confirmation of proper performance. With our automatic contract generation tool, you only need to enter the requested key points of your project; upon receipt, we will promptly contact you with a developed draft contract and swiftly proceed with the next steps.
Our online form allows you to quickly and efficiently draw up an escrow agreement that already contains all the relevant data - saving you time and money. As soon as you have completed the form, you will immediately receive a first draft of the escrow agreement. This is followed by the final steps up to the realisation of the project:
- Onboarding: We then contact you immediately for the onboarding process, such as mandating and "KYC" data collection.
- Online consultation: After the successful onboarding, we will arrange an online appointment with you to discuss the specific transaction to be processed.
- Customised amendment and execution of the escrow agreement: Our experts then adapt the escrow agreement to your individual needs from an operational perspective (e.g. different milestones or payment stages). The escrow agreement can be concluded either in person in Vienna or virtually via a notary's protected data room.
Cost transparency and cost predictability are essential for the handling of your project: We charge a lump sum of 1.5% of the purchase price, but at least EUR 1,200, plus statutory VAT, for the regular processing of the escrow. If services are required in a specific case that go beyond regular processing, these will be charged at a further flat rate of 2% of the purchase price, but at least EUR 1,600, plus statutory VAT. Additional services are incurred if disbursement requests are disputed, an expert is called in to determine disbursement requirements, or the escrow amount is to be deposited in court. Account management costs and expenses of the account-holding bank will be charged separately to the parties to the escrow agreement. You will of course be informed of these costs in advance.
Please note that for trusteeships of more than EUR 40,000, the additional provisions of the Lawyers' Statute apply. These can be found at www.rakwien.at and stipulate additional security measures for the handling of trusts. Our experts will be happy to explain the details to you.
