Escrow Agreement

1. Parties

Escrow Agent:
Aditum Law
[Address to be inserted]
ABN: [To Be Inserted]
Contact: [Email / Phone]

Transaction: [Asset Description]
Transaction Value: [Amount in AUD]

2. Purpose

The purpose of this Agreement is to:

• Establish a secure trust account for transaction funds
• Define the conditions under which funds are held and released
• Provide protection for both Buyer and Seller
• Create a clear audit trail for all fund movements
• Establish dispute resolution procedures

3. Escrow Amount

The following amounts are to be deposited into escrow:

• Purchase Price: [Amount]
• Aureum Vault Commission: [Amount]
• Buyer's Agent Commission (if applicable): [Amount]
• Seller's Agent Commission (if applicable): [Amount]
• Total Escrow Amount: [Amount]

4. Deposit of Funds

4.1 Deposit Timeline

The Buyer must deposit the full escrow amount within 5 business days of this Agreement being executed. Deposit details will be provided separately.

4.2 Deposit Method

Funds must be deposited by:

• Electronic funds transfer to Aditum Law Trust Account
• Bank cheque (for amounts over AUD 100,000)
• Wire transfer (for international transactions)

4.3 Deposit Confirmation

Upon receipt of funds, Aditum Law will:

• Confirm receipt in writing to both parties
• Provide details of amounts held
• Issue a trust receipt

5. Holding of Funds

5.1 Trust Account

Funds are held in Aditum Law's trust account which:

• Is regulated by the Law Society of New South Wales
• Is subject to annual independent audit
• Is protected by professional indemnity insurance
• Cannot be accessed by Aureum Vault
• Is separate from Aditum Law's operating accounts

5.2 Interest

Interest earned on escrow funds:

• Is retained in the trust account
• Does not accrue to the benefit of any party
• May be applied to administrative costs at Aditum Law's discretion

5.3 Fund Security

While funds are held in escrow:

• They cannot be accessed by Aureum Vault
• They cannot be accessed by the Seller until release conditions are met
• They cannot be accessed by the Buyer once deposited (except as provided for refunds)
• They are protected by Aditum Law's professional indemnity insurance

6. Release Conditions

6.1 Standard Release Conditions

Funds will be released when all of the following are satisfied:

• Both parties have signed the transaction agreements
• All funds have been deposited into escrow
• Due diligence period has expired or been waived
• Asset transfer documentation is complete
• All conditions precedent are satisfied or waived
• Both parties authorise release in writing

6.2 Release Process

Upon satisfaction of all conditions:

1. Aditum Law obtains written authorisation from both parties
2. Aditum Law verifies all conditions are met
3. Funds are released within 2 business days
4. Written confirmation is provided to all parties

6.3 Distribution

Upon release, funds are distributed as follows:

• To Seller: Purchase price less commissions
• To Seller's Agent (if applicable): Commission amount
• To Buyer's Agent (if applicable): Commission amount
• To Aureum Vault: Platform commission

7. Refunds

7.1 Buyer Refund

The Buyer is entitled to a full refund if:

• The transaction is terminated during the due diligence period
• The Seller defaults on their obligations
• Material misrepresentation is discovered
• Clear title cannot be delivered

7.2 Refund Process

Refunds are processed within 10 business days of:

• Written request from Buyer
• Confirmation from Seller (if applicable)
• Verification by Aditum Law that refund conditions are met

7.3 Deductions from Refunds

The following may be deducted from refunds:

• Third-party costs already incurred (inspections, valuations)
• Aditum Law administrative fees (if applicable)
• Any amounts owed to other parties

8. Dispute Resolution

8.1 Notification of Dispute

If a dispute arises:

• Either party may notify Aditum Law in writing
• Aditum Law will hold funds until resolution
• No funds will be released during an active dispute

8.2 Mediation

Aditum Law will offer mediation services:

• Mediation is non-binding
• Both parties must agree to participate
• Mediation fees may apply

8.3 Expert Determination

For technical disputes, parties may agree to:

• Appointment of an independent expert
• Expert determination is binding
• Costs shared equally unless otherwise determined

8.4 Arbitration

If mediation fails:

• Disputes may be referred to arbitration
• Arbitration is binding
• Conducted under Australian Commercial Arbitration rules

8.5 Court

As a last resort, disputes may be heard in the Supreme Court of New South Wales.

9. Aditum Law Obligations

Aditum Law undertakes to:

• Hold funds in accordance with trust account regulations
• Act impartially between Buyer and Seller
• Release funds only in accordance with this Agreement
• Maintain accurate records and provide statements on request
• Notify parties promptly of any issues or disputes
• Maintain professional indemnity insurance

10. Limitation of Liability

Aditum Law's liability is limited:

• Aditum Law is not liable for transaction failures
• Aditum Law is not liable for acts of either party
• Aditum Law is not liable for delays caused by third parties
• Aditum Law's liability is limited to the amount held in escrow
• Aditum Law is not liable for consequential or indirect losses

11. Fees

Aditum Law may charge:

• Escrow administration fee: as quoted separately
• Dispute resolution services: hourly rates apply
• Out-of-scope services: as agreed

Fees are typically deducted from escrow funds upon release, unless otherwise agreed.

12. Termination

This Agreement terminates when:

• All funds have been released in accordance with this Agreement
• Both parties agree in writing to terminate
• A court orders termination

13. Governing Law

This Agreement is governed by the laws of New South Wales, Australia. The parties submit to the non-exclusive jurisdiction of the courts of New South Wales.

Seller

Seller Full Legal Name