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:
- Buyer and Seller agree on the terms of the transaction.
- Buyer transfers funds to a designated Escrow account at ABA.
- 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
- 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.
- 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.
- 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
|USD or KHR
|Period of Escrow Deposit
|Up to 12 months
|Nature of Transaction
|0.20% of the Escrow Deposit or a minimum of USD 800 (whichever is higher)
|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@. ababank.com