Protecting Your Surrogate Payments with Escrow
As a surrogate, you are giving a tremendous gift to intended parents. Your compensation is well-deserved. You should expect to receive your surrogate payments on time, and according to the terms you agreed upon in your contract. But how do you make sure that your surrogate payments are protected?
Requesting an independent third-party escrow agent to handle your compensation throughout your surrogacy journey is the best way to protect your compensation.
What is surrogacy escrow?
Denise Steele, SeedTrust Escrow
Escrow means having someone that is not involved in the transaction protect and hold something of value until certain conditions are met.
In surrogacy escrow, an independent agent or attorney holds or manages the funds that will be used to reimburse expenses and pay compensation throughout the surrogacy journey. Using a neutral third party who has no connection to the surrogate or intended parents helps make your transaction safer. Using an escrow management service is more secure than fundholding.
The job of the escrow service is to make sure that everybody stays within the terms of the surrogacy agreement and to distribute funds when medical bills or surrogate payments are due.
How does a surrogacy escrow company protect my surrogate payments?
A surrogacy escrow agent is legally required to adhere to the terms of your contract. They will make sure your payments are sent on time, and that money is always available in the intended parent's escrow account. If any disputes arise, they will review your contract to resolve the issue.
When your intended parents choose an independent surrogacy escrow company to manage the funds throughout the journey, you'll have peace of mind knowing that you'll never have to worry about receiving your surrogate payments. The funds are prepaid into the escrow account before your journey starts. Your payments and reimbursements are then sent throughout your journey according to the terms outlined in your surrogacy contract.
Using a third-party surrogacy escrow agent also helps to eliminate awkward conversations with your IPs about money since the surrogacy escrow agent handles it all!
Requesting a third party to manage the funds throughout your journey is a smart way to make sure you will have the peace of mind to focus on your health and personal needs without the added pressure of worrying about your surrogate payments.
About SeedTrust:
SeedTrust is an independent third-party surrogacy escrow company that provides secure, transparent, affordable, and reliable escrow services to Intended Parents, Surrogates, and egg donors throughout their collaborative reproductive arrangements. As an attorney-managed escrow provider, we have a legal responsibility to protect the funds we hold in escrow and handle payments and reimbursements according to the contract between Intended Parents and their Surrogates.