Escrow account

We offer

  • opening of an escrow account for grant projects
  • 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
  • currency conversion on the day of settlement

International Business Team

+38044 2478975
+38044 2473885
[email protected]