Escrow deals with financial services for the import and export of goods. There is an independent third party that holds the amount discussed until all conditions are met. NBK can also take on the role of that independent third party for you.
What does the escrow service entail?
NBK can take on the task as a third party and ensure that the escrow service is performed fairly. We make sure that the agreed amount reaches you. We provide an independent account that is only used to facilitate the payments. This account is administered by a blocked and segregated account for Third Party Funds. The party responsible for the escrow costs must have an account with NBK. If you are a new customer, a new account must first be created to which a minimum amount must be deposited
When you use the escrow service we offer, you can be sure that the agreed amount is in safe hands. You can therefore assume that the costs that have to be paid will actually be paid. Furthermore, an escrow service is to your advantage, because after the escrow agreement you only have to ensure that the goods are delivered properly. NBK will have all financial aspects under control.
When to use Escrow?
An escrow service can always be used, but in our case it applies to the import and export of goods. Importing and exporting goods can be quite expensive. Sometimes the amount is so high that you don't know how to handle it properly. That is why we also offer escrow services to ensure that payment of the goods is fair.