Document background
The Escrow Waiver Agreement is utilized in Canadian business transactions where parties choose to proceed without traditional escrow services, despite such services being customary or recommended. This document becomes relevant in situations where parties have established sufficient trust or have implemented alternative security measures for their transaction. The agreement serves to formally document the parties' informed decision to waive escrow, acknowledge associated risks, and establish alternative arrangements for handling funds or assets. It must comply with relevant Canadian federal and provincial legislation, including securities regulations, financial services laws, and consumer protection requirements where applicable. The document is particularly important for risk management and legal compliance, as it creates a clear record of the parties' intentional deviation from standard escrow practices.
