holding funds on the account until the fulfilment of the conditions specified in the project implementation plan and submission of certain documents to the bank (acceptance certificates, report of a recipient of assistance etc.)
transfer of the amount in full or in instalments from the escrow account to the beneficiary in case of the fulfilment of relevant conditions
statements on the movement of grant funds and interim monitoring reports for the donor institution based on received documents
return of funds to the account holder, if conditions specified in the grant implementation plan are not fulfilled
Advantages of the service
protection of grant funds from any misuse
protection of funds from possible blocking due to arrest or enforcement proceedings against the recipient
reduction of costs of settlements self-administration
prompt generation of statements and interim reports on project implementation
