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Escrow accounts related to a Scaffolding Licence Agreement
Possibly a bit tenuous, but looking for advise on Escrow accounts related to a Scaffolding Licence Agreement.
We are in the middle of the very exhausting and frustrating process of getting a SLA in place with our neighbour for a loft conversion.
One of his MANY requests is that we place £5k in an escrow account to be used in the event of property damage (yes, all parties have adequate insurance but he’s still insistent)
I’ve done some research and seems a standard escrow holding company does not have any part of determining WHEN a payment should be made, they only hold the money until told what to do.
In that case, who do we appoint to deal with any disputes or issues? A solicitor? Another party?
I do feel he is so insistent for this to be put in place to then be able to get more money out of us (he’s already getting £5k “inconvenience” fee) and I don’t trust him not to potentially make fraudulent claims so want to make sure we are fully covered.
We have asked to put cameras on the scaffolding (facing our house/scaff platform) to mitigate this, but he is refusing which is also concerning.
Anyone dealt with similar situations?
Thank you!
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7 Replies
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Blimey, sounds like a nightmare. Sometimes just doing what needs to be done without consent and then apologising afterwards is the easiest method
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I’d suggest you need to appoint an independent professional such as an Architect or Chartered Surveyor, acceptable to both parties, to authorise drawing any money from the Escrow account.
They’d document and give justification for this expenditure.
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I would be just doing it tell him to take pictures now before the start and you will fix any problems. No one would be getting any money out of me especially 5k
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Robbing you!I have a scaffold company and never had to deal with this as a party wall agreement, inconvenience fee
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Tell him to jog on and look at a different option. Smell a claim for nothing
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As far as adding cameras are concerned as long as the video does not record his property he has no say in cameras recording your property. I’d also have sone at ground level pointing up to the extent of the cantilevered scaffolding. It will record air past his boundary but hopefully not his house….to record if anything falls from the scaffolding
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also think something inside the surround of the scaffolding structure is an option which could potentially show anything falling from the inside I think we need to do something just to cover us. Ground level is tricky as that would technically be on his property so might not get away with that
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