Can a cross-border escrow service be used for transactions involving intangible assets, such as copyrights or patents? How does the escrow service ensure that both parties comply with the terms of the transaction in these cases?
Yes, a cross-border escrow service like Castler can be used for transactions involving intangible assets such as copyrights or patents. The escrow service acts as a neutral third party that holds the funds until both parties have fulfilled their obligations as per the terms of the transaction.
In the case of intangible assets, the escrow service ensures that both parties comply with the terms of the transaction by verifying the ownership and validity of the asset before releasing the funds. This can be done through legal documentation and verification of ownership.
Additionally, the escrow service can also provide dispute resolution services in case of any disagreements between the parties. This ensures that both parties are protected and the transaction is completed smoothly.
Overall, using a digital escrow service like Castler can provide a secure and efficient way to conduct cross-border transactions involving intangible assets.