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Escrow Agreements
Benefits
  • No impact to your existing NewWave credit line
  • Interest free financing for 60 days
  • Allows you to book large scale opportunities while reducing cash flow concerns
How it works
  • Contact NewWave Credit Department, 800-536-5222 or credit@newwavetech.com
  • Work with NewWave Credit Department to have your customer pre-qualified. This may be as simple as running a Dun & Bradstreet report or it may require a completed credit application.
  • Once your customer is pre-qualified, you will receive an “Escrow” document to sign. You must forward this agreement along with the escrow fee to NewWave
  • The escrow agreement also contains an Instrument of Assignment which your customer signs agreeing to remit payment to the escrow agent.
  • Receive a purchase order from your customer made out to you directing payment to the escrow account.
  • After payment is received from your customer by the escrow agent, simultaneous distribution of funds is sent to you and NewWave

Frequently asked questions

What fees will I pay?
  • NewWave provides interest free financing for 60 days
  • If your customer makes payment beyond 60 days there is an interest charge of 1% per month
  • There is a $1000.00 processing fee charged by the independent escrow agent
What are the qualifications
  • Your end user must be credit worthy
  • Typically escrow agreements are utilized with a minimum order value of $50,000
When do I receive funds?
  • Once the escrow agent receives your customer's check, payment is made to you within 3 business days. For a nominal fee, the escrow agent can wire you the funds the same day.

How do I present this program to my customer?

Money management is important to my company. To make sure things run smoothly we will be financing your transaction through our banking relationship with SunTrust Bank (or the institution of your choice). When processing your payment, please remit to:

"my company name" escrow account c/o SunTrust Bank

Vendor Stores
Enter our vendor specific resource centers for the latest products and programs from these premier manufacturers.

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  • Programs
    A host of programs developed specifically for our customers to improve their bottom line. Warranty Advantage Comprehensive product maintenance support programs and services. We give you online tools to help manage your service contracts and recurring revenue stream. E-Commerce Advantage Providing the information you need when and how you want it, here at our VAR Portal, on your web site, or directly connected to your back-end. New Web Feature:
    Deal Registration Tracking
    Ongoing visibility to all deals registered through NewWave, to easily track and manage opportunities through an interactive Dashboard.