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Cash Management
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Corporate Finance
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Corporate Banking
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Treasury & Trust Services
Escrow
A written instrument whereby a bank as Escrow Agent acts a mediator to two parties
involved in a business transaction.
Fulfillment of the Escrow is dependent on a certain contingency or on the happening
of a certain event
Types:
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POEA Escrow
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A Recruitment Agencies are required to set up a Trust Fund to answer for any claims
of the overseas contract workers.
Minimum amount required:
Peso: Php 1.00Mn (effective June 2002)
Dollar: USD 20,000.00
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Regular Escrow
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Usually involves a buy and sell transaction
Minimum of Php1.00Mn is required
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