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We find it very important that you enter new markets, expand your footprint, scale up cooperation with other companies, and find major reliable partners.

When you plan ahead and design new projects, you may rely on our services and unconditional support as your best partner.

When conducting trade or other major transactions, it is a matter of concern where to keep the funds until execution and completion of a transaction. For enhanced security and reliability, we offer opening an escrow account at Ameriabank as a guarantee of safekeeping and payment of funds. It is a special bank account opened by the parties to the transaction. Funds are kept on the escrow account until completion of the purchase and sale transaction or fulfillment of obligations between the parties. The account is closed upon closure of the transaction.

Advantages

Security

Cash will be paid only (i) after the transaction is finalized and the bank is provided with sufficient documentary proof that contractual obligations between the parties have been performed properly and when due, or (ii) in other cases agreed between the parties.

Repayment of funds

You will get the cash deposit back, if the other party to the transaction does not perform its obligations when due, or in other cases defined under respective contract or by mutual consent of the parties.

How do I open an account?

To open an escrow account, you can visit any branch of Ameriabank, complete escrow transaction application, indicate the transaction details, and provide identification documents of both parties to the transaction (for individuals - ID, for legal entities – reference from state registration authority and ID of the director), as well as the documents related to the subject matter of the transaction. After that, you will need to schedule an appointment and visit Ameriabank’s head office together with the other party to the transaction to sign the trilateral escrow agreement. Your escrow account will be opened based on the agreement.

Terms and conditions

Tariffs and terms of trade finance tools
Information guide for Escrow accounts

1. Escrow service fee¹	For transactions within AMD 500 million or foreign currency equivalent: 0.3% of escrow amount, min AMD 50,000, max AMD 1,000,000, For transactions exceeding AMD 500 million or foreign currency equivalent: contractual, min AMD 1,000,000
2. Amendments to escrow agreement	AMD 35,000 for each supplementary covenant. In case of increase of escrow amount an extra escrow service fee will be charged pro rata the increased amount.
3. Check of documents received under escrow agreement	AMD 10,000
4. Cash withdrawal from escrow account	In accordance with the Bank’s Tariffs for Corporate Clients²(Section 3, “Cash Transactions”)
5. Transfer from escrow account	In accordance with the Bank’s Tariffs for Corporate Clients³ (Section 4, “Transfers”)

¹Escrow service fee is chargeable lump-sum

²Ameriabank CJSC Tariffs for Corporate Clients (12CIB/11RBD PL 72-01-02, approved by Management Board Resolution # 03/11/15 dated May 20, 2015) Available at https://ameriabank.am/useful-links

³Ameriabank CJSC Tariffs for Corporate Clients (12CIB/11RBD PL 72-01-02, approved by Management Board Resolution # 03/11/15 dated May 20, 2015) Available at https://ameriabank.am/useful-links

Last updated on 26.04.2023 11:37

Escrow Account