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Wednesday, July 22, 2015 4:31:40 PM
I purchased a house in Punta del Este.
Once the Price was agreed, I had to pay amount x to an Escrow account of the involved law company. So this amount left my account. Of course the Basis for my payement were clear and outlined in a 8 page contract.
When the reality check was done, we found out, that certain items which were part of the contract were not fullfilled and for this reason, only 65 % of the amount in the Escrow account were credited to the seller or better said released.
So, in the Escrow I still have a credit or Balance of 35 % of the effective amount send out, but the funds that left my account are ex 100 % means the total amount.
Will I get the 35 % back - maybe if the contract is not fullfilled, but if so, then of course I can only book it back into my account if and when it is returned.
It is the same Story with DECN. The credit of the difference between what actually has been paid at the end and not what has been agreed to be paid if and when, will only be visible if and when the funds return back to the Company. In the meantime it is an off-balance-sheet item.
Very simple
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