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What are the Purchase and Sale Agreement, Escrow Agreement, and Automated Clearing House Agreement?

April 26, 2017Agreement Automated clearing escrow House purchase sale

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What are the Purchase and Sale Agreement, Escrow Agreement, and Automated Clearing House Agreement?

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The following agreements are the legal documents that form the basis of the deposit refund mechanism: a) The Purchase and Sale Agreement (PDF format) outlines the terms and conditions related to EDC’s purchase of duties and interest from Participants. b) The Escrow Agreement (PDF format) outlines the responsibilities of the Escrow Agent (Citigroup) with respect to the collection of duties and interest directly from U.S. Customs. c) The Automated Clearing House Agreement (PDF format) allows for the electronic payment of duties and interest from U.S. Customs to EDC via the Escrow Agent (Citigroup). d) The Certificate of Incumbency (PDF format) authenticates the signing authority of the individuals executing the agreements on your company’s behalf.