Ensure your protection in business transactions involving the exchange of large sums of money, properties, and other high value assets by opening an escrow account.
An escrow is a financial arrangement where an impartial third party (escrow agent) safeguards the assets/funds until the parties involved fulfill their obligations. With Chinabank-Trust and Asset Management Group as your escrow agent, you are assured that:
Chinabank Escrow Agency - Buy and Sell
Buy or sell real estate properties, shares of stocks, or other valuable assets with confidence. Chinabank will collect, hold, and only disburse funds when both buyers and sellers are satisfied.
Chinabank Escrow Agency – Capital Gains
If you intend to use the proceeds of the sale of your principal residence to buy or build a new one within 18 months, you may be exempted from the capital gains tax imposed by the Bureau of Internal Revenue (BIR). Chinabank will hold the funds intended for capital gains tax and disburse them to you when the conditions of the escrow are met.
Chinabank Escrow Agency – POEA
Prior to the grant or renewal of license to operate, the Philippine Overseas & Employment Administration (POEA) requires deposit to be placed in escrow to address possible claims of overseas Filipino workers due to employment contract violations. Chinabank will handle the safekeeping, investment, and maintenance of the escrowed fund until either the POEA or the National Labor Relations Commission (NLRC) orders its full or partial release.
Chinabank Escrow Agency – DHSUD
An escrow arrangement required by the Department of Human Settlements and Urban Development (DHSUD) for granting a License to Sell.
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