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Products & ServiceCorporate Banking



Escrow Account service

Escrow Account service

Escrow Account service is the type of account opened at OCB with an agreement signed between OCB and two or more parties for the purpose of securing the specific obligations at specific transactions. The temporary locking or partially/fully deactivated and using/transferring money from the Escrow Account shall be done by OCB according to the agreement signed between OCB and the relevant Customers.

Targeted customer: Corporate Customers

Features of service

The Escrow Account service may be considered to use in transactions between the enterprise and partners, in which OCB should act as an intermediary bank to ensure the rights and benefits of the parties as agreed. Including:
•    Project investment/sale and purchase of real estate, other assets
•    Share transfer/merger and acquisition transaction (M&A)
•    The transactions between real estate invesment owner and buyers/tenants
•    The transaction of capital contribution to the enterprise from shareholders until the capital increasing is recorded successfully, the procedures are completed
•    Investment transactions to funds/financial companies needing the middle bank to act as a an intermediary management
•    Disbursement transactions of domestic organizations need an intermediary bank to manage the cash flow to ensure that the money is used for the right purpose of the loan
•    Other permitted transactions in accordance with law

Benefits for customer

To ensure the rights and benefits of the parties in the sale, purchase, transfer, investment transaction in accordance with the terms stated in the signed transaction agreement.

Documents required

Required documents shall be provided to OCB to use the escrow account service includes:
• Documents of account/joint account opening and using in accordance with OCB's regulations from time to time
• The escrow account agreement
• Authorization documents and other additional documents according to the content of the agreement (if any)