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Artesa LEGAT tied account

A tied account is used to settle finances between two contracting parties where Artesa acts as the Account Administrator.

Options for using the Artesa LEGAT tied account

  • Purchase of real estate
  • Purchase of real estate using a loan provided by Artesa or another party
  • Drawing down credit – refinancing loans provided by another party
  • Business share transfer
  • Other options available upon brief consultation

Advantages of the Artesa LEGAT tied account

  • Safe depositing of funds with a specified purpose
  • Payment of funds is always tied to compliance with terms and conditions of contracts
  • In the case of non-compliance with the terms and conditions or expiry of deadline, the funds are returned to the depositor’s account

Basic parameters of the Artesa LEGAT account

  • Set up for a definite period of time
  • Individual remuneration for the administrator based on agreement
  • Minimum three-party contract on opening and keeping a tied account
  • No interest

Conditions for its provision

  • At least one of the contracting parties must be an Artesa member
  • Two proofs of identity
  • Purchase contract or other document based on which the funds are settled