Alberta Escrow Agreement for Oil and Gas Assets
Appoint an escrow agent to hold Alberta oil and gas assets in trust until a purchase of the assets is completed with this downloadable template.
- Role of Escrow Agent. The escrow agent will hold the assets in trust until all of the purchase funds have been released to the vendor upon completion of the transaction, or returned to the purchaser, in the event the sale is not completed.
- Interest. The escrow funds will be placed in an interest bearing trust account and the interest will be payable to the party who receives the purchase funds.
- Disputes. If either the purchaser or vendor disputes the escrow agent's determination regarding entitlement to the funds, the funds will be paid into court.
- Governing Laws. This Escrow Agreement for Oil and Gas Assets is governed by the laws of the Province of Alberta.
- How to Get the Form. Once you have purchased the form, you can immediately download the MS Word document.
Last Updated: 29-July-2021