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What is an escrow account?

When you sell or purchase real estate or perform other major transactions, you are likely to need extra security. The solution is your escrow account with Ameriabank. The escrow account is a special bank account where funds are kept until the fulfillment of obligations between transaction parties.

Advantages

Confidence

Cash will be paid only in the case when the transaction is finalized and the bank is provided with sufficient documentary evidence that contractual obligations between the parties have been fulfilled properly and when due or (ii) in other cases agreed upon by the parties.

Safety

You will get the cash deposit back if the other party to the transaction has not performed its obligations when due or in other cases defined under the relevant contract or upon mutual consent of the parties.

Terms and conditions

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

2.1.	Escrow service fee
2.1.1.	In case of purchase and sale of real estate or vehicles registered in the RA between individuals	For transactions up to AMD 100 million or foreign currency equivalent: AMD 40,000 For transactions from AMD 100 million to AMD 500 million or foreign currency equivalent: 0.15% of escrow amount For transactions exceeding 500 million AMD or foreign currency equivalent: agreement-based, min AMD 1,000,000
2.1.2.	In case of sale of the property pledged at the Bank to secure the credit obligations of an individual:	AMD 25,000
2.1.3.	In other cases	For transactions within 500 million AMD or foreign currency equivalent: 0.3% of escrow amount, min AMD 50,000, max AMD 1,000,000, chargeable lump-sum For transactions exceeding 500 million AMD or foreign currency equivalent: agreement-based, min AMD 1,000,000
2.2.	Amendments to escrow agreement	AMD 25,000 for each supplementary covenant. In case of increase of escrow amount an extra escrow service fee will be charged pro rata the increased amount.
2.3.	Check of documents received under escrow agreement	N/A
2.4.	Cash withdrawal	In accordance with the Bank’s Tariffs for Individuals [1] (Section 3, “Cash Transactions”)
2.5.	Transfers from escrow account	In accordance with the Bank’s Tariffs for Individuals[2] (Section 4, “Transfers”)

[1] Ameriabank CJSC Tariffs for Individuals (11RBD PL 72-01-01, approved by Management Board Resolution # 03/59/15 as of May 27, 2015). Available at https://ameriabank.am/useful-links

[2] Ameriabank CJSC Tariffs for Individuals (11RBD PL 72-01-01, approved by Management Board Resolution # 03/59/15 as of May 27, 2015). Available at https://ameriabank.am/useful-links