Protecting against the risk that arises from the transfer of ownership, use, or rights between citizens and institutions by holding the relevant funds in an Escrow account until each party has fulfilled their respective responsibilities.
Under the standard agreement, the bank transfers payments according to the payment request agreed upon by both parties;
Under agreements with covenants, the authorization of one party is enough for the bank to transfer payments.
Mitigate any risks that may occur;
Prevent misunderstandings between parties.
Terms and conditions
Involved party/ Agreement type | General conditions |
|---|---|
Buyer / Seller | 0.3% |
For Escrow accounts in the amount exceeding 100 million MNT, the fee shall be agreed upon in the contract.
