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Commercial Escrow Account
The Commercial Escrow Account is designed to give parties to a commercial transaction full confidence in the settlement of their financial obligations, with alrajhi bank holding the funds as a neutral Escrow Agent and releasing them after meeting the conditions agreed between the contracted parties.
Commercial Escrow Account
An ideal solution for secure settlement of commercial deals and contracts.
alrajhi bank's Commercial Escrow Account provides a neutral, secure environment for completing commercial transactions. The buyer, service requester or project owner deposits the transaction value into a dedicated escrow account, which the Bank holds as Escrow Agent — not as a party to the underlying contract — and releases to the seller, service provider or operator only after meeting the conditions agreed between the contracted parties. The seller gains assurance that the funds are genuinely secured before performance begins, while the buyer gains assurance that no funds are released before the agreed terms are met.
Features
- A neutral party safeguarding the rights of both parties.
- Funds secured against any unilateral action.
- Release of funds only after meeting the conditions agreed between the contracted parties.
- Full protection in the event of a dispute.
- Certified statements and reports for all transactions.
- Governed by Saudi regulations and supervised by SAMA.
How to apply
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