Escrow Agreement

Help When Selling on Payment Terms

Holstein Australia has developed a new process and procedure for assisting members who sell their registered animals on terms, with payments spread over a period of time. Members have expressed concern about transferring animals before they have received full payment from the purchaser and HA have developed a short agreement to allow transfers to occur while protecting the rights of the vendor to the registration certificates.

The agreement, which is undertaken between the vendor and purchaser, outlines the number of animals sold and the expected last payment date. It authorises Holstein Australia to hold all Registration Certificates on behalf of the Vendor until the contract is complete. Completion occurs when full payment has been received by the Vendor. Holstein Australia will release the Certificates of Registration to the Purchaser when the Vendor completes the “Authority to Release” form and returns it to Holstein Australia or when the Purchaser has submitted proof of payment to Holstein Australia.

Click here for the Escrow Clause and Authority to Release form