The commercial escrow account service is an escrow account opened by the escrow party at Techcombank (TCB) to transfer funds to another party after completing the agreed conditions or when a predetermined event is triggered.
The escrow account agreement will be signed between the parties involved in the transaction and the escrow agent.
Techcombank commits to managing the escrow account safely, only releasing the account according to the conditions agreed upon by the parties.
Outstanding features
Supports a variety of currencies for flexible transactions according to business needs.
0% interest rate or the option to deposit escrow with a fixed term by agreement.
The escrow funds will be managed according to the agreement between the parties, ensuring clear payment purposes.
Easy transaction inquiry & confirmation
Businesses can look up accounts online through Techcombank's e-Banking system.
Outstanding features
Ensure the obligations and rights of the two parties (for example, the seller and the buyer, ...) in the custodial agreement
Service usage requirements
1
Have a current account at Techcombank
2
Signing a custodial contract between the parties and Techcombank which clearly states the conditions to be satisfied to release the custodial amount
