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Escrow accounts

The very and the same issue “Where to keep the funds until the complete and successful arrangement of the transaction?” stands acute anytime when a purchase and sales deal is being concluded. ARMBUSINESSBANK advances guaranteed funds storage and paying through escrow accounts, anticipated for secure effectuation of movable and real estate business. The Purchaser and the Seller, acting as counterparties open an account where the transaction amount shall be tied up.  Consequently, the account is closed subsequent to the execution of the business.

To set up an escrow account, Buyer and/or Seller pay to Bank the following commitment fees:

a. For real estate purchase and sales business - 0.1% of the amount entered on the escrow account (min. AMD 20.000, max. AMD 100.000);

b. For movable property purchase and sales business - 0.3% of the amount entered on the escrow account (min. AMD 15.000, max. AMD 50.000).

Updated on 18.01.2011, 14:02

In case of any inconsistency between the information published in Russian and English, you need to be guided by Armenian version.
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ARMBUSINESSBANK’s official website:
www.armbusinessbank.am