Escrow account
Escrow account is a special bank account to which the money required for the acquisition of a product, service, movable or non-movable estate is credited on a condition of being deposited. In case of submission of documentation as a proof of implementation of liabilities Bank shall pay to the party specified in the agreement.
If one of the parties does not implement the liabilities on time or implements it inappropriately the amount on escrow account shall be returned to the party who has been credited the amount.
Bank guarantees:
- escrow account deposit funds,
- on time payment of funds to the beneficiary made from escrow account in case of submission of documentation as a proof of implementation of liabilities as stipulated under the agreement
| TRANSACTION | Tariffs |
| Commission fee for opening and servicing the account | Lump sum of 0.05% from the amount of escrow account with minimum of AMD 10,000, maximum of AMD 200,000 |
| Commission fee for each agreement concluded on making change in the Principle Agreement on opening and servicing of escrow account | AMD 10,000 |
| Closing of account | Free of charge |
| Cash withdrawal from the account | In compliance with tariffs for cash withdrawal from other bank accounts available for physical entities at the Bank at the particular moment |
| Money Transfer from the account | In compliance with tariffs for making transfer from other bank accounts available for physical entities at the Bank at the particular moment |
| Provision of Account Statements | In compliance with tariffs for providing other account statements for physical entities available at the Bank at the particular moment |
Please follow the Armenian version
Please follow the Armenian version
Page updated 30.08.2024 | 19:59
In case of discrepancy between Armenian and English versions of the information, the priority is given to the Armenian version.
