The Baltic Exchange building in the City of London
Baltic Exchange Expands its Escrow Service Offering to Support Chartering Deals
The Baltic Exchange is expanding its escrow service with an offering to mitigate counter party risk during the chartering process. Amongst various uses, the service can support a chartering deal by facilitating and holding a security sum in a dedicated escrow account.
The security sum typically represents a portion of a charter hire amount, which is pre-agreed between...