Escrow Account
An agreement wherein PBB TIC acts as a neutral third party to hold in custody money, securities, instruments, documents or other property delivered to it by each or any of the contracting parties and delivers the same to them when all the terms and conditions mutually agreed upon by both parties have been fulfilled.
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The eventual delivery of the money, securities, properties or documents held in escrow shall be dependent on a certain contingency or on the happening of a certain event. Escrow arrangements may vary in terms of complexity, the nature of responsibilities to be handled by PBB TIC, the amount of funds required (if any) and the length of time during which the escrow shall be needed. These escrow arrangements can be customized to suit the requirements and conditions of the contracting parties.
Acceptable Currencies
Explore a wide range of currencies accepted for smooth and secure transactions.
Philippine Peso
PHP
US Dollar
USD
Benefits
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Expert Portfolio Officer
Professional and prudent asset administration, custody of escrow properties/documents, and investment management of the Escrow Fund, the latter if escrow funds are deposited.
Protection
Provides the security of the funds deposited in escrow and protects the interest of parties involved by ensuring their compliance with the terms and conditions of the agreement.
Compliant
Assured compliance with the different regulatory bodies (i.e., DHSUD, PSE), as applicable, and provided necessary documentation requirements (i.e., preparation of the escrow agreement and the certification on escrow deposit, which regulatory bodies require from time to time)
Easy Access to Funds
Efficient liquidity/timely remittance of amounts allowed for withdrawal from the account.
Type of Escrow
Explore secure and tailored escrow solutions for every business transaction!
Buy & Sell Escrow
Secure payment for buying and selling deals
IPO Lock-up Escrow
Protects shares during IPO lock-up period
DHSUD Escrow
Safeguards funds for housing developers
DMW Escrow
Ensures protection for migrant worker funds
BIR Escrow
Holds tax-related funds for compliance
Source Code Escrow
Secures software source code in escrow
Requirements
Individual Clients
- Government-issued IDs
- For Resident Filipino Citizen, Non-resident Filipino Citizen* and Resident Alien, 1 primary valid ID or 2 secondary valid IDs
Non-resident Aliens
- Passport or Alien Certificate of Registration (ACR) I - Card
Corporate Clients
- Government-issued IDs
- Articles of Incorporation/Partnership
- SEC Registration
- Latest General Information Sheet with Beneficial Ownership Declaration Form
- Secretary’s Certificate.
PBB - TIC (Individual and Corporate Account)
- Customer Information Sheet
- Escrow Agreement
- Risk Disclosure Statement