ESCROW ACCOUNT
An escrow account is a shared account between buyer and seller for the purpose of a disbursement upon the fulfillment of contractually agreed conditions of the parties.
Advantages
- The Bank will conduct transactions only based on the statement made jointly by the parties.
- It will be secured from payment risks related to the contract
Contract fee from each party
| Sale and purchase of apartments | 20,000 MNT | ||||
| Other | 0.1% | ||||
Required documents
- Passport and Certificate of alien registration
- Contract signed between the parties and notarized
- Signature and stamp form
- Current account conditions apply to corporate
