UBB opens special (escrow) accounts for the purpose of making payments under specific conditions and contracts. The mechanism of depositing money in the special account and transferring the amounts available in that account shall be agreed in a specific contract concluded between the bank and the parties to the transaction for which the special account has been opened in order to effect payments under the said contract.
A special (escrow) account usually makes possible the execution of payments as per a contract where the payments are subject to the submission of particular documents.
The Bank and the interested parties sign a contract following that a special account is opened in order to effect payments under certain conditions.
It may be one of the parties as per the contract for which the special account has been opened or both parties, in the latter case the special account is a joint account.
Release/transfer of the money upon certain conditions.
Special (escrow) accounts are opened after signing a contract for opening and maintaining a special (escrow) account, which stipulates the conditions for depositing money into the account and for making transfers of amounts from the account respectively the commitments of each party under the agreement in this respect. The contract for opening and maintaining a special (escrow) account is prepared on a case-by-case basis depending on the particularities of the contract under which the payment will be made through the special account and aims to provide flexible solutions tailored to the specific needs of the clients.
The special account is intended solely for the payments under a particular contract. The payments from the account are blocked and can be unblocked only according to the conditions for payment from the account specified under the contract for opening and maintaining a special (escrow) account.
0700 1 17 17 (domestic line)
*7171 (for subscribers of mobile operators)
+3592 483 1717 (for international subscribers)
E-mail: info@ubb.bg
Visit the nearest office of the bank.
