To get a paymaster attorney to handle your payments, make them an offer and evaluate your project details in advance. The lawyer must know the following to ensure the transaction does not break government laws and regulations.
What is your role in the transaction: sender, receiver, or mediator?
Amount of funds
Number of transactions
Type of business: is it a financial, services, or supplier of products?
Who is sending the funds? And where?
Who is receiving the funds? And where?
The location of funds (country and bank)
The final destination of funds
Who are the mediators, and what is their commission? – if any are involved.
Next, ask for all necessary documents through their website, e-mail, telephone, etc. the attorney should set up a personal communication channel to facilitate trust and transparency. You will receive the following documents to fill and return if necessary for legal and tax return preparation:
Client information sheet asking for your personal and contact info, including company details. Fill and return this form with an attached copy of your ID or valid passport.
A paymaster service agreement showing the attorney’s mandate will be valid for transactions to come, too.
Addendum A, requesting buyer information
Addendum B, requesting info of the people/institutions the attorney will send funds from the transaction
You will also have to provide all relevant contracts and free agreements for the transaction. These include sale and purchase agreements, sub-fee protection agreements, irrevocable master-fee protection agreements, etc. Usually, the paymaster service provider charges an initial fee for setting up the escrow account, constant communication, and due diligence.
