Third-Party Fund Administration
TradeSafe is an authorised and approved Third-Party Fund Administrator (TPFA) with Standard Bank of South Africa Ltd.
As an optional feature to transacting parties, TradeSafe Escrow has the capability of opening a call account in the underlying buyer's name at Standard Bank. This means that the funds will be safeguarded in the name of the buyer under TradeSafe's control. TradeSafe will encumber these funds and the funds will only be released to the seller once the contract condition precedents have been fulfilled.
In some situations (dependent on the client and transaction value), Standard Bank may be amenable to drafting a Bank Comfort Letter (BCL) which will be furnished directly to the selling party. An additional cost may apply for this service.
All TPFA accounts will undergo a full FICA review during the account opening process which will be performed by TradeSafe Escrow.
Please contact email@example.com should you wish to learn more about our TPFA offering.