An Attorney Paymaster acts as a neutral third party, receiving fees in escrow for any transaction between two individuals or legal entities. The Paymaster is usually but not necessarily an Attorney, due to the trustworthiness and safety the Lawyers offer in handling such issues and services. The Attorney Paymaster maintains an escrow account in order to receive these fees by buyers, then releases those funds to the parties referenced in the parties’ contract.
The Paymaster is the one appointed to enforce and to facilitate the transactions of large sums of money representing fees and commissions and thus, to reduce all risks to both parties involved in these transactions. The use of paymaster services can be one of the most effective to ensure the receipt of the fees, compensation or commissions agreed upon agreements between the parties.
