JSC Akciju komercbanka Baltikums offers you Deal Account service to carry out purchase or sale of any assets (property, cars or any other estate).

The service appeals to both individuals and corporate persons. Deal Account guarantees performance by the parties of the agreement.

The buyer, the seller and the Bank execute a trilateral agreement providing for conditions and deadlines to be observed by the buyer in crediting the Deal Account and by the seller in transferring the documents and receiving the payment.

Transaction pattern:

• JSC Akciju komercbanka Baltikums opens a Deal Account in the buyer’s name;
• The buyer credits the Deal Account with the agreed transaction amount;
• The seller arranges the documents and submits them to the Bank;
• JSC Akciju komercbanka Baltikums notifies the buyer that the documents have been submitted to the Bank.
• Provided the documents comply with the agreed requirements, the buyer accepts them, and JSC Akciju komercbanka Baltikums executes the transaction, i.e. the seller receives the funds, and the buyer obtains the original documents;
• If the seller fails to fulfil his liabilities under the agreement, the funds are returned to the buyer’s account.

Benefits:

• Guaranteed safety of the transaction both for the buyer and the seller;
• Using Deal Account, the seller of the assets may be sure that he will receive the agreed amount for his assets, and the buyer–that the seller will receive the amount only after the buyer acquires title to the assets;
• Deal Account may be used easily in any purchase and sale agreements, especially, in transactions with real estate.

Requirements for the buyer and the seller:

• To open current accounts with AS Akciju komercbanka Baltikums;
• To execute a trilateral agreement with AS Akciju komercbanka Baltikums, providing for the deadline of the buyer’s payment, the list of the documents to be supplied by the seller and the respective deadline.