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Escrow​ Service

Whether​ you​ are​ an​ individual​ or​ a​ business,​ buying​ or​ selling​ land,​ property,​ shares,​ or​ acquiring/transferring​ ownership​ can​ be​ risky.​ You​ may​ be​ concerned​ about​ reliability​ of​ the​ other​ party​ or​ fraud.​ That's​ where​ ABA​ Escrow​ Service​ helps​ you​ –​ a​ reliable​ and​ secure​ method​ for​ buyers​ and​ sellers​ involved​ in​ high-value​ transactions.

How​ it​ works

ABA​ Escrow​ Service​ works​ in​ three​ simple​ steps:

  1. Buyer​ and​ Seller​ agree​ on​ the​ terms​ of​ the​ transaction.
  2. Buyer​ transfers​ funds​ to​ a​ designated​ Escrow​ account​ at​ ABA.
  3. ABA​ releases​ funds​ to​ the​ seller​ after​ the​ terms​ and​ conditions​ agreed​ by​ the​ parties​ have​ been​ fulfilled.

Why​ choose​ ABA​ Escrow​ Service

Reliability:​ We​ are​ a​ licensed​ Trustee​ Operator​ and​ the​ largest​ Cambodian​ commercial​ bank1​ with​ a​ solid​ shareholder,​ National​ Bank​ of​ Canada,​ so​ you​ gain​ peace​ of​ mind​ while​ performing​ large​ transactions​ with​ uncertain​ counterparts. ​

1 ABA​ Bank​ is​ the​ largest​ Cambodian​ commercial​ bank​ in​ Cambodia​ by​ total​ assets,​ gross​ loans,​ customer​ deposits​ and​ profitability​ based​ on​ the​ National​ Bank​ of​ Cambodia’s​ Annual​ Supervision​ Reports​ 2021​ and​ 2022.

Flexibility:​ We​ can​ tailor​ our​ services​ to​ meet​ your​ needs,​ ensuring​ your​ transaction​ is​ completed​ smoothly​ and​ efficiently.

Examples​ of​ risks​ ABA​ Escrow​ Service​ can​ protect​ from

  1. Non-payment​ for​ the​ real​ estate​ sale:​ If​ you​ are​ a​ seller,​ you​ may​ be​ concerned​ about​ receiving​ payment​ for​ the​ property​ you​ sell.​ With​ ABA​ Escrow​ Service,​ your​ buyer​ can​ deposit​ the​ funds​ into​ an​ ABA​ Escrow​ account,​ and​ the​ funds​ will​ be​ released​ to​ you​ once​ all​ the​ agreement​ terms​ are​ met.​ It​ protects​ you​ from​ the​ risk​ of​ non-payment.
  2. Title​ transfer:​ If​ you​ are​ a​ real​ estate​ buyer,​ you​ may​ worry​ about​ the​ transfer​ of​ the​ property​ title​ to​ you.​ Using​ ABA​ Escrow​ Service​ protects​ you​ from​ the​ risk​ of​ the​ seller​ not​ delivering​ the​ title​ documents​ or​ delivering​ them​ improperly.
  3. Buying/selling​ shares:​ ABA​ Escrow​ Service​ ensures​ that​ the​ seller​ receives​ their​ funds​ and​ the​ buyer​ receives​ the​ shares​ they​ paid​ for.​ ABA​ will​ hold​ the​ purchase​ amount​ until​ specific​ conditions​ are​ met,​ including​ the​ transfer​ of​ ownership​ of​ the​ shares,​ confirmation​ of​ their​ authenticity,​ and​ verification​ that​ there​ are​ no​ liens​ or​ encumbrances​ on​ the​ shares.

Terms​ and​ Conditions

​Seller​ &​ Buyer's​ Eligibility​

​Individual

  • Be​ at​ least​ 18​ years​ old
  • Maintain​ at​ least​ one​ personal​ Savings​ or​ Current​ account​ at​ ABA​ Bank

Legal​ Entity

  • Be​ a​ fully​ registered​ company​ or​ branch
  • Maintain​ at​ least​ one​ Savings,​ Current,​ or​ Current​ PLUS​ account​ at​ ABA​ Bank
Currency​USD​ or​ KHR​
Period​ of​ Escrow​ Deposit​​Up​ to​ 12​ months
Nature​ of​ Transaction​
  • Sale​ and​ purchase​ of​ real​ estate​ property
  • Sale​ and​ purchase​ of​ shares
  • Any​ other​ commercial​ transaction​ under​ Cambodian​ law
Processing​ Fee​​0.20%​ of​ the​ Escrow​ Deposit​ or​ a​ minimum​ of​ USD​ 800​ (whichever​ is​ higher)
Required​ Documents​

Individual

  • ​Executed​ Sale​ and​ Purchase​ Agreement;
  • National​ ID​ or​ Passport;
  • Family​ Book,​ if​ any. ​

Legal​ Entity

  • Executed​ Sale​ and​ Purchase​ Agreement;
  • Articles​ of​ Incorporation,​ Memorandum​ and​ Articles​ of​ Association​ (or​ similar​ constitutional​ document);
  • Certificate​ of​ Incorporation;
  • Business​ License​ (if​ any);
  • Patent​ Tax​ Certificate;
  • Company​ Extract​ (if​ any);
  • Shareholders​ Resolution;
  • Board​ of​ Directors​ Resolution​ (if​ any);
  • National​ ID​ or​ Passport​ of​ the​ representative​ of​ the​ legal​ entity;
  • Family​ Book​ of​ the​ representative​ of​ the​ legal​ entity​ (if​ any).
Other​ conditions​A​ lawyer​ witnesses​ the​ signatures​ of​ Buyer​ and​ Seller​ (in​ most​ cases,​ the​ lawyer​ is​ appointed​ by​ both​ Buyer​ and​ Seller)

ABA​ Bank,​ at​ its​ sole​ discretion,​ may​ change​ any​ of​ the​ above​ Escrow​ Terms​ and​ Conditions​ at​ any​ time​ and​ without​ prior​ notice

For​ more​ information​ on​ how​ to​ use​ Escrow​ Service​ from​ ABA​ Bank,​ call​ 1​ 800​ 203​ 203​ (toll-free​ inside​ Cambodia)​ or​ email​ us​ at​ info@remove-this.ababank.com.

General Terms and Conditions and General Terms and Conditions for Online Services apply. You need Adobe Reader to view these PDF files.