3) The content of the contract of escrows trading model is extremely varied, as it is able to adapt to the specific regulatory requirements of contractors. However, there are certain clauses typical of the fiduciary agreement, without which there is a risk of insecurity. As a general rule, in addition to the information provided by all parties and the description of the guarantee relationship for which it is concluded, the trust agreement includes the effective date of the contract (fiduciary date) and the date of execution. It is important to specify the instructions that the custodian must follow in the management of the security assets of his obligations, his powers and his responsibilities. If a sum of money is guaranteed, it is a good thing to specify if and how it can be invested and how interest can be allocated. It is advisable to give a description of the property in charge of storage and, if it is a property, an assessment that will determine its value in advance will be useful. The contract must indicate the condition under which the asset can be delivered to the beneficiary or returned to the depositor. As a general rule, the payment of the custodian and payment methods are defined in the contract. In the case of international contracts, you can define the language of communication between the parties, the legislation applicable to the report and the authority responsible for the resolution of disputes.
Although Fiduciary is an unknown figure in Italian law, it can also be used in our legal system to effectively ensure the protection of contractors. The term “escrow” derives from the French term “escroue,” which referred to the parchment scrolls (literally “paper piece”) on which these contracts were signed and which took effect only in the event of a given event, thus forcing the contractors to perfect the agreements concluded. Our legal system already provides for institutions such as conventional forfeiture, deposit in the interest of a third party, the contract for the third party and, more often, the irrevocable mandate which, by its differences and peculiarities, produces effects similar to those of a trust agreement, but which does not always meet the needs of the parties to the guarantee and security by not offering this flexibility. , through which a well-structured trust agreement lends itself to the implementation of situations that would otherwise be difficult to thwart.