Escrows

Secure your company’s interests by ensuring trouble-free and secure transactions

Overview

 

An escrow is a deposit of funds held by a third party on behalf of the other two parties in a transaction. Our team will act as a third party to ensure your company’s safety and interest. As your escrow agent, we will hold the funds until you’re ready to complete the transaction. This service is for:

  • Buyers/Sellers who want a secured transaction.
  • Real Estate developers who want to start operations as
    soon as possible.
  • Companies who want to list securities on the Philippine
    Stock Exchange.

Features

 

Minimum Escrow Amount P5,000,000
Turn Around Time 3 banking days*

*For the drafting of the escrow agreement in line with the deed of sale and other documentary requirements and the preparation of account opening documents

Types of Escrows

 

Sale of Real Estate and Shares of Stock

Pending the sale of real estate or shares of stocks, we will hold on to the purchase price until the sale is registered.

Listing of Securities with the PSE

Our team can set-up an escrow agreement prescribed by the PSE for companies who want to list securities on the exchange.

Sales by Real Estate Developers

Any proceeds of sales made in compliance with the Socialized Housing requirement of HLURB will be deposited in the escrow account.

Documentary Requirements

From the Client
From the Bank
Individual Client

 

  1. Government Issued IDs
  2. Notarized Special Power of Attorney (if necessary)

Corporate Client

  1. Articles of Incorporation
  2. By-laws/ Amended By-laws
  3. General Information Sheet
  4. Certificate of Registration with SEC
  5. Secretary’s Certificate
  6. Government Issued IDs
  1. Escrow Agreement
  2. Universal Specimen Signature Card
  3. Customer Information File
  4. Risk Disclosure Statement

Benefits

 

Professional and prudent asset administration, custody of escrow properties, and investment management.

Protection of the parties’ interest and funds by strict compliance to the terms and conditions of the agreement.

Assured compliance with the different regulatory bodies (i.e. HLURB, PSE, among others).

Efficient liquidity and timely remittance of amounts withdrawn from the account.

Want to learn more about about Escrows?

FAQ

What are the requirements for companies who want to list securities on the Philippine Stock Exchange?
The PSE requires applicant companies to instruct their stockholders, who own 10% of the issued and outstanding shares of stock or securities of the company, to enter into an agreement with the PSE not to sell, assign, or dispose of their shares for 180 days after listing. This can be done through an escrow agreement.

What is the role of an escrow agent in a transaction?
The Escrow Agent acts merely as a depository of the funds and is tasked merely with ministerial functions specified under the agreement. The Escrow Agent is under no obligation to determine the performance or non-performance of any term or condition of any other agreement that may be executed between the parties.

List of Valid IDs
PRIMARY ID
Passport
Driver's License
PRC ID
Digitized Voter's ID
GSIS e-Card
SSS Card
Senior Citizen Card
Unified Multi-purpose ID
ACR / ICR
Integrated Bar of the Philippines
School ID
NCDA ID
Postal ID (PVC Plastic Card)
Eligibility

ID/DOCUMENT REQUIREMENTS

For Resident Citizen, Non-Resident Citizen and Resident Alien:
  • 1 primary valid ID or 2 secondary valid IDs
For Non-Resident Alien
  • Passport and Alien Certification of Registration (ACR) I – Card or Alien Employment Permit (AEP)**

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