Escrow Services and Accounts
- KBZ Bank’s Escrow Service is a contractual arrangement to hold funds (or other assets) on behalf of two or more agreeing parties and to make payments as instructed when specific mutually agreed to conditions have been met. Escrow Services can be used in many types of transactions including Capital Purchases and Contributions, Import/Export Transactions, Real Estate Transactions and Structured or Syndicated Loans.
- A simple example would be if a Myanmar Importer wants to make a purchase from overseas but are not familiar with the Seller. With the help of KBZ Trust Department, the 2 can enter into an Escrow Management Agreement where the Buyer will deposit the funds with KBZ, the seller will be notified of the funds on deposit, the seller will then ship the goods and once the conditions of the Agreement have been met, KBZ will transfer the funds to an account as instructed in the contract.
- Please contact KBZ Bank for more information about Escrow Services and Accounts at KBZ.Trust@KBZBank.com or call directly at 01-230-7049.