Victor Quintanilla Law Firm, PLLC
FINANCIAL SERVICES DIVISION
QLF Is a Duly Licensed Investigations Company, Lic.# A18915301, Issued by TX Dept of Public Safety
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Asset Recovery Division
It is Quintanilla Law Firm's mission to provide its Clients a successful recovery of all assets for which a Client has a rightful claim.
Paymaster Services The "Purpose" and "Requirements for Position" are described by Wikipedia below.
- Purpose The primary purpose of a Paymaster is to receive or transfer monies under contract from buyers/sellers in large business transactions and deposit those into escrow for the eventual disbursement of the principal and fees that are due to the sellers and buy/sell brokers within the transaction.
- Although not a requirement, a Paymaster is usually a lawyer (also known as a ‘lawyer paymaster’), that can help navigate certain complexities that arise as a result of the multiple parties with varying interest that are involved in the transactions. When dealing with commission payments on contracts dealing with large amounts of money (such as Oil, Gas, Steel, Iron, Gold, MTN's, VG's, T-Strips, and other instruments), most banks in the United States are wary of their exposure for the many liabilities in handling such large amounts of money. In addition, most buyers and sellers of such transactions prefer to place the money with a neutral third party for their disbursement. In most cases, the buyer and seller involved in the transaction will require a paymaster to be named in the handling of all incoming and outgoing funds.
- We offer our clients a a vital, secure and competent fiduciary duty performed in good faith as a neutral third party that has no knowledge of any particulars of the transaction requiring the transfer of funds under said contract.
- We look forward to earning your trust.