TAS System Management (trust account system) / Escrow Account Management
- TAS Coordination (approvals, inspections etc.)
- opening, activating and operating escrow account with an authorized escrow bank in accordance with the requirements of DLD/RERA and other authorities
- lodging procedures and obtaining escrow bank and RERA approvals
- coordinating with escrow bank engineer, arranging RERA inspections
- TAS Inflows / Outflows
- cooperating with escrow bank on matters relating to escrow and retention accounts, including accounting and reporting of incoming and outgoing payments
- TAS Project Payments processing
- logging payment inflows with escrow bank
- managing project payments made to contractors, consultants, brokers, project managers, and others
- TAS Sales Proceeds processing
- carrying out escrow accounting of sales in progress
- managing client payments to escrow account in line with payment plans and construction stages
- Escrow Accounts Reconciliations
- performing reconciliations with escrow bank on transactions and movement of funds
- handling all escrow bank queries
- Escrow Account Audits
- facilitating preparation of escrow account audit reports in accordance with DLD/RERA rules and regulations
- Escrow Account Final Transactions
- final reimbursements
- retention releases