18 Oct 2017

ESCROW explained

Since the 2015 liquidation of Lindstrands, a few clients may have concerns about the security of deposits placed against the construction of their hot-air balloons or products.
Cameron Balloons Ltd is the only manufacturer (as far as we know) to offer an ESCROW facility - where the client's deposit is held in a secure account outside the company until the balloon is complete, giving balloonists total confidence that their deposit is safe.
Please contact Nick, Julia, Craig or Simon for further details; sales@cameronballoons.co.uk +44(0)117 963 7216

Background Details:
Cameron Balloons is unique among balloon manufacturers in offering an ESCROW account for deposits placed against sales of larger items.
Deposits exceeding £1000 may be placed in the ESCROW account at customer request.
This gives clients a very high degree of financial security.

A separate “Clients’ Deposits” account is operated completely independently Cameron Balloons Ltd. accounts.
Deposits are placed in this account and remain untouched until the goods are ready for delivery.

The deposit remains the customer’s property, but subject to the condition that it will be released to Cameron Balloons Ltd. under the conditions specified below.
1) The deposit will be released to Cameron Balloons Ltd. at the same time as the customer’s final payment. At that point, the customer will have full secure title to the goods.
2) In the event that the final payment is delayed, the deposit money will be released to Cameron Balloons Ltd. after the goods are complete and ready for dispatch.
3) If goods are cancelled during construction, the deposit will be released to Cameron Balloons Ltd. Whether part of the deposit is returned to the customer or further payment will be due, will be a matter for Cameron Balloons Ltd. and will depend on the cost of work already done.
4) In the event of an insolvency of Cameron Balloons Ltd. resulting in an inability to supply the goods, the deposit would be returned to the customer.
5) No charges are made for this service to the client and no interest is paid to the client. 

The Clients’ Deposit account is operated under the control of Mr Don Cameron.
The security of deposits is guaranteed by Cameron Balloons Ltd. against the company’s assets
& also by Mr Cameron against his personal assets.
Mr Cameron’s personal guarantee will cease to have effect when the deposit is released to Cameron Balloons Ltd.,
or in the event of a bank failure.

 Please contact us at Cameron Balloons for further help or details; sales@cameronballoons.co.uk  +44(0)117 963 7216

Photo credit: George Blagdon

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