Services/ CUSTODY SERVICES - Escrows
Allegiant Institutional Services provides comprehensive services for all of your escrow needs. Choosing us as your Escrow Agent makes the process of establishing, maintaining and distributing the escrow a seamless one.
We commit to deliver to you:
- Expedited document review and account setup completed by experienced administrative and legal staff
- A dedicated service team to facilitate accurate and timely transaction processing
- Timely and precise transmission of securities trade instructions and settlement completion
- Automated daily investment of cash balances into an Allegiant Money Market Fund
- Online access to your account for flexible and in-depth reporting
- Asset security—all assets held in trust or custody accounts are legally separate from bank assets. Since 1845, National City’s distinguished heritage of strength and stability has brought peace of mind to clients like you
We serve as escrow agent for various purposes including:
- Company Acquisitions/Dispositions: Hold part of sales proceeds pending verification of inventory, validation of receivables, tax and other contingencies
- Indemnification Reserve: Retain part of sales proceeds pending completion by the parties of indemnification covenants in agreement
- Securities Subscriptions: Hold investors funds pending underwriter or issuer meeting minimum requirements of the offering. Disburse funds to issuer or return to investors
- Pending Litigation Reserve: Retain funds in dispute until court or arbitrator makes award or until the parties agree to a settlement
- Construction Retainage: Hold part of contractors payments until project completed and released by owner.
- 1031 Like Kind Exchange: Disburse funds for purchase of exchanged property
Escrow Services for the Travel Industry:
These escrow products and services enable you to:
- Promote professionalism and dependability to the travel agents and consumers you serve
- Comply with the U.S. Department of Transportation (DOT), as required by charterers and air carriers
- Streamline your records with an automated escrow accounting system
- Be efficient with online capabilities to view account activity
- Be cost effective by releasing funds to providers of transportation or travel services to cover initial deposits and prepayments as required
- Earn interest while the funds are on deposit in an FDIC insured deposit account
We have the sophisticated, time-tested products you deserve, customized technology at your fingertips and an experienced staff on call. We deliver the protection and dependability that provides you and your clients complete confidence and the peace of mind that brings business back, again and again.
We possess the background and expertise to ensure complete compliance with United States Department of Transportation regulations.
We maintain a strategic alliance and receive product endorsements from both the American Society of Travel Agents® (ASTA) and the National Tour Association® (NTA).
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