As a licensed lawyer, paymaster is subject to heavy penalties and is suspended in case of embezzlement. The Paymaster cannot provide legal services to any of the Paymaster customers, as this is considered a conflict of interest. A Paymaster Attorney acts as a neutral third party to obtain funds from a transaction between two separate individuals or companies. The Paymaster manages a trust account and then pays it to the seller or the corresponding recipient. After a small commission as payment for its services, the payer accounts for the fiduciary account and fills out the necessary IRS papers. What is a Paymaster and what services do they offer? A payer is a neutral third party and has no knowledge of the details of the transaction. They take over the commissions collected and then pay the funds accordingly. In return for their benefits, the payer charges a small amount that is paid directly to the commission proceeds before payment. The primary purpose of a payer is to obtain trust fees from buyers in a major transaction, and to pay the seller and brokers on the transaction. A Paymaster contract involves ALL parties: transmitter, receiver and intermediary.
We receive many requests from intermediaries who want to secure their commissions through a Paymaster contract. It doesn`t matter. However, the main contract between THE DIFFUSEUR and the RECEIVER of the funds must be concluded. So if you are an intermediary, please inform the sender and/or the recipient to contact us. It doesn`t make sense to ask for our Paymaster services, where transmitters and receivers are not involved. In the United States, there is no licensing requirement to be a Paymaster. However, a payer is often a licensed lawyer, due to the security and security issue that lawyers in the United States are required to provide all funds that do not belong directly to them, in a “trust attorney account” (also known as an IOLTA account), which is monitored by the state bar, in the state where the lawyer practiced. Under international money laundering law, we are required to carry out due diligence for every transaction on behalf of banks, money laundering authorities and tax authorities. There is no way to execute or accept a warrant that is not covered by due diligence! As a Licensed Commercial Agent (Paymaster), we know the procedures and guarantee a secure and legal service.
The law firm Gonzalez provides escrow and Paymaster lawyers to personal, business and corporate services worldwide. We are a trustworthy, neutral third party who collects deposits in international business transactions, maintains trust funds and releases them in accordance with the parties` contract. Each Paymaster project must be legally structured. In particular, with regard to international money laundering legislation, many factors and rules must be respected. In some cases, it is necessary to develop and build a structure (stocks, banks, foundations…) During the evaluation and evaluation of each project, our experienced lawyers, tax experts and investment bankers work as a team to develop an optimal structure for transactions. That is always a huge effort. Since we receive hundreds of applications each week, please understand that we must in any event charge the cost of due diligence that proves the legal and tax factors. BFF LEGAL offers paymaster services to many customers, both inside and abroad.