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Get to know what you should be aware of when deciding to buy a car, build a house, investing for your retirement and many other activities.
We provide Escrow Services to facilitate the successful conclusion of major transactions through the mediation of an independent third party ie: Bank.
Major transactions include purchase / sale / lease of a business / land or any other property.
We provide Escrow Services to facilitate the successful conclusion of major transactions through the mediation of an independent third party ie: Bank. Major transactions include purchase / sale / lease of a business / land or any other property.
As trustworthiness and reliability are among the prime requirements of a neutral third party, Commercial Bank is ideal for the task, being among the most trusted financial institutions in Sri Lanka.
The benefit of such a service to the Seller is that it provides a comfort that the Buyer is committed and has shown its commitment with the funds deposited into the escrow account. The benefit to the Buyer is that the funds are not released to the Seller, until such time the due diligence of the Buyer is completed and the transaction is deemed concluded. The Seller and Buyer would both draw comfort from the fact that the Escrow Account is maintained by an Independent Third party, the Bank.
If you are in need of an Escrow Account provider for any service, Commercial Bank may be able to offer this service to you.
We provide Escrow Services for Software at Commercial Bank.
Software Escrow Services provide a benefit to both the software user and the vendor. Software vendors and users can now employ services of the Bank as the neutral third party to hold the source codes in safe custody.
Software Escrow Services, which is a globally accepted practice, to balance requirements of software vendors with the needs of software users, is now available through Commercial Bank.
The software user will have the comfort that in an instance in which the vendor is unable to fulfil the conditions of the maintenance agreement, that they will have access to the source code, ensuring the safety of the user’s investment and unhindered execution of the maintenance of the software. The vendor will have the comfort that the source code will be maintained by a third party, unrelated to the maintenance agreement.
For further information please contact the Bank’s Investment Banking Unit on below contact numbers.
+94 11 2 486 494
+94 11 2 486 496
+94 11 2 486 493
Terms & Conditions apply
Product information and terms & conditions are subject to change from time to time.
Therefore, it is advisable to contact the branch nearest to you for the latest information and prevailing terms & conditions.