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