Escrow account

A deposit-guaranty account supplied by the buyer/depositor with funds destined for the seller, which will be transferred to the latter upon fulfillment of conditions established by the parties and included in the Escrow Agreement.

Advantages

  • Safety of transactions for the BUYER (supply of goods/provision of services) and payment of price after fulfillment of conditions laid down in the commercial contract
  • Safety of price collection by the SELLER for supplied goods/provided services
  • Guarantee of amounts use according to the commitment of business partners
  • Refund of full amount in the event of transaction failure

How does it work?

1

Concluding of Escrow Agreement

2

Opening of Escrow Account

3

Depositing of funds in Escrow Account

4

Fulfillment of predetermined conditions

5

Payments from Escrow Account

6

Closing of Escrow account

Costs

For details on charges for transactions performed through Escrow Account, please check Fees and charges for servicing legal entities.

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