Marine vessel transactions typically involve large sums of money changing hands between parties who may have limited prior relationship. WBT's managed transaction service uses escrow integration to protect both buyers and sellers.
How It Works
- Parties Verified: Both buyer and seller complete KYB verification through our identity partner
- Escrow Opened: Funds are placed in a regulated escrow account held by our licensed escrow partner
- Inspection Complete: Buyer conducts survey; any issues are negotiated with WBT coordination
- Documentation Signed: Memorandum of Agreement (MoA) executed with WBT as witness
- Funds Released: Upon delivery, escrow releases funds to the seller minus any applicable fees
- Deal Closed: WBT archives all documentation for both parties
Fee Structure
WBT charges a success fee based on the transaction value band:
- Band B (SGD 200K–500K): 1.0%, capped at SGD 6,000
- Band C (SGD 500K–2M): 1.5%, capped at SGD 15,000
- Band D (SGD 2M+): 2.0%, capped at SGD 40,000
Why Use Managed Transactions?
In our experience, managed transactions close 40% faster than unmanaged deals, with zero instances of fraud or payment disputes since launch.