When buying or selling property or goods, or providing services, choose Acba's escrow account. It ensures the deposit of payments as a guarantee for the transaction.
The payment transferred by the buyer to the account may be received by the seller only after submission of the relevant documents. If the work is not performed, the funds are returned.
Escrow accounts are available in Armenian dram and in foreign currencies acceptable to the Bank, facilitating international transactions.
The seller is protected against the risk of non-payment or partial payment by the buyer, as well as against fraud or deception.
Advantages of escrow account transactions for the Buyer
The funds deposited by the buyer into the special bank account may be received by the seller only after submission of the relevant documents.
The buyer is protected against fraud, deception, and the risk of paying funds against forged documents.
The funds deposited into the escrow account are returned to the buyer in the event of the seller’s failure to fulfill contractual obligations.
Advantages of escrow account transactions for the Seller
The seller is protected against the risk of non-payment or partial payment by the buyer.
The seller is protected against fraud and against receiving counterfeit banknotes from the buyer.
Risks inherent in commercial transactions are minimized.
