Essential Questions to Ask Before You Hire an Escrow Fund Manager

SeedTrust's Questions & Answers

Surrogacy & Egg Donation Checklist

Security

Is your company licensed and bonded? What is your Bond amount? Does your bond cover all funds held in escrow?

SeedTrust is a licensed escrow provider and every dollar held in escrow is fully bonded and insured. SeedTrust’s insurance coverage provides the highest level of security and protection available. SeedTrust client funds are fully insured with a $30 million bond! Additionally, all funds are held in an attorney-managed trust account and are further secured with a $2 million general liability policy. SeedTrust also maintains a $1 million Errors & Omissions policy, as well as a $1 million Cyber Incident Protection policy which provides access to a cyber incident response team.

Do you hold all funds in an attorney managed trust account?

Yes, all client funds are held in an attorney managed trust account. Our attorney, Roland Salloum, is a member in good standing with the Bar Association and is subject to the Bar Association’s oversight.

Are you an entirely independent 3rd party without conflicts of interest?

SeedTrust is a completely independent third party Escrow Fund Manager with no interest or control in any Agency or Clinic. We are beholden only to our clients and are contractually bound, as fiduciaries of the Trust, to manage the funds in strict compliance with the express terms of the Egg Donor or Gestational Surrogacy Agreement.

Do you review supporting documents and govern the funds in accordance with the contracts, or only disburse money upon request?

SeedTrust ensures that all transactions fully comply with the terms of the Parties’ underlying agreement. Our trained team of legal and financial experts scrutinize each disbursement request, making sure each disbursement includes proper supporting documentation and corresponds to an express provision in the Parties’ underlying Agreement. Exceptions are only made when the Parties agree, in writing, to deviate from the agreed upon terms of their Agreement.

Is your process and system HIPAA compliant?

Protecting our clients’ most sensitive and personal information is a responsibility we take seriously and remains a cornerstone of our company and corporate culture. The SeedTrust platform utilizes AES-256 encryption and maintains compliance with the Health Insurance Portability and Accountability Act (HIPAA).

Qualifications

How many egg donation and surrogacy escrow cases have you managed?

SeedTrust is one of the largest ART Escrow Fund Managers in the United States. We have managed thousands of surrogacy and egg donation journeys. As partners with over 200 agencies, we have managed cases from Intended Parents all over the world.

Do you have an attorney on staff?

SeedTrust Partner & Chief Operating Officer, Roland S. Salloum, Esq., is an attorney with expansive knowledge of collaborative reproductive processes. Roland became a partner of SeedTrust after experiencing his own five-year infertility journey. Roland runs operations; he and his team of paralegals manage all legal matters, disbursement requests, client support, and customer service.

Do you have a certified public accountant (CPA) on staff?

Our Founding Partner, Edward Brockshmidt, is a CPA and serves as SeedTrust’s CFO. Brock and his team manage all payments, account audits, and financial matters of the company. He is also an invaluable resource for clients who have questions related to taxes and other financial matters.

Efficiency

How often are disbursements processed?

Disbursements are processed daily, with money being transferred within 24 hours of the disbursement request being received. In fact, most requests are processed and paid within two hours.

Are disbursement requests processed electronically?

All disbursement requests are submitted and processed using our industry-leading Assisted Reproductive Technology (ART) Escrow Platform, which clients can access using their phone, computer or tablet.

Can funds be paid via electronic deposit?

The majority of our payments are paid via direct deposit (ACH). We can also transfer payments by bank wire or check upon request and at no additional charge to the client.

Cost

What is the total cost for a successful journey?

Our flat, all-inclusive fee structure makes things simple. The total cost of fund management for a Surrogacy journey is $1,500. The total cost of fund management for an Egg Donation journey is $350. There are no hidden charges or other costs, ever.

Are there any transaction fees in addition to the core pricing? Even for extended time periods?

No. Our core pricing includes all costs. There are no additional fees or costs, regardless of how long we service your account.

What do you charge if I need to rematch with a new surrogate or donor?

SeedTrust does not charge any additional fees if you need to match with a new surrogate or donor – no matter how many times you rematch.

Transparency

Can I view my escrow account, balances, and transactions at any time?

SeedTrust’s industry-leading Assisted Reproductive Technology (ART) Escrow Platform provides all Parties secure access to their account 24 hours a day, 7 days a week. Surrogates, Intended Parents, IP Representatives and Case Managers enjoy a personalized view of their case information, including all case details, transactions and pertinent documents. The SeedTrust Team creates a Scheduled Payment Calendar for each Surrogacy case, allowing Intended Parents, Surrogates, IP Representatives and Case Managers to view all scheduled disbursements in calendar view or list view. Our platform also provides Agency partners a customized Agency Dashboard which offers the ability to quickly view and monitor all cases from a single screen.

Are my escrow contracts and files stored electronically and accessible to me anytime?

All contracts and case-related documents are stored online and are accessible 24 hours a day, 7 days a week. The account ledger is displayed in an easy-to-read, online-banking style format with one-click access to all supporting documentation. Escrow Agreements are signed electronically, and handled completely within the platform, which guides Signors through the process using easy-to-follow prompts. Escrow Agreements are also individually tailored to each user’s language specifications.

Escrow Agreements are also individually tailored to each user’s language specifications.

Do you provide clients with notification for every transaction?

SeedTrust sends immediate detailed transaction notification emails to all Parties, keeping everyone fully informed at all times. Clients also enjoy real-time access to their SeedTrust case manager via the platform’s direct messaging feature.

Related Posts