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WorldEscrow N.V./S.A.
Your Business Continuity, our Service.

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Contact us

Worldescrow N.V.
Graaf van Egmontstraat 15 bus 1
2800 Mechelen
Belgium
Tel +32 (0)15 20 44 50

Flanders Bio

Basic Service Level

A Basic Service Level, is what we call a semi-escrow contract. The reason for this is that, with the BSL, the focus is entirely on safekeeping, and not as much on offering continuity. A Basic Service Level is the utmost rudimentary form of Escrow Services. It is best comparable to the ‘secured storage’ service, that you can ask a notary to do. However, even on the most basic of services, WorldEscrow offers some additional services that a notary can’t or wouldn’t offer.

In case of BSL, WorldEscrow checks the presence of a EDSF (Escrow Deposit Specification Form), which is the basic document for any Escrow deposit.

Secondly, a limited readability test is executed. We decompress the deposited data, check it for viruses and decrypt it. Then we store it in one of our vaults.

You can understand that we do not recommend this service. The reason may be clear: it offers virtually no continuity guarantee. Especially for users, this service is not recommendable. It is slightly different for suppliers, because they can ensure themselves of having an escrow-clause in their contracts. However, the same message counts here: the continuity guarantee for your customers is virtually non-existent. Therefore, we strongly recommend to consider the higher service levels, such as the level I, level II or level III.