At Landes & Compagnie we have extensive experience in offering commission paymaster services. We have experience in many different areas such as real estate, stocks, bonds, MTNs, BGs, SBLCs, oil, gold, and diamonds. Frequently brokers are unaware of the legal aspects of such transaction, all such transactions much be compliant with federal regulations. We are able to work with corporations and individuals to ensure prompt and proper payment of all fees in accordance with both USA and international laws.
We act always act in accordance with Articles two (2) through (5) of the Due diligence Convention and the Federal Marketing Commission circular of December 1998, concerning the Prevention of Money Laundering, and the Landes & Compagnie Trust Prive AML Compliance Programme; the following information may be supplied to banks and/or other Federal Institutions for purposes of verification.
Why a Paymaster
A third party Paymaster is a good idea, because it allows the recipient to receive funds in any type of account, thereby minimizing the possible tax burden. Funds are always disbursed per the instructions of the client. The Paymaster reconciles the escrow account and fills out the necessary IRS and/or international paperwork, and is paid a small commission for the services rendered. The Paymaster is not party to the transaction, and does not know the exact time that the transaction will close. Part of the Paymaster’s job is to insure that the payment has been transferred into escrow, then to disburse the funds in accordance with the parties’ directions.
All parties seeking to engage Landes & Compagnie as Paymaster should provide the following:
• A copy of valid driver’s license and/or passport
• U.S. citizens and U.S. resident aliens: Complete IRS form W-9
• Non-U.S. citizens or U.S. resident aliens: Completed IRS form W-8(BEN)
• Copy of all transactional documents, including payment agreement
As your Paymaster, we can pay several people out of a single commission, as long as all the details and banking information for each payee are clearly spelled out in the Fee Agreement. Each transaction is subject to our AML Programme and due diligence compliance check. Upon clearing and verification of funds, all parties will be paid promptly per the terms of the fee agreement. In addition to the fee agreement, we may require documentation from all parties who may be interested in employing our Paymaster services, including a copy of the underlying transactional documents, including but not necessarily limited to the fee agreement.