The Business account - as safe as in the bank!

The Business account provides safety for both the buyer and the seller, because the bank makes the funds available only after the transaction has taken place in fact, and the documents of ownership have been drawn up.

• In opening the Business account, a tripartite contract is concluded among you, the buyer/seller and SEB banka. You have to have an agreement what documents, confirming the fulfillment of the deal, must be submitted to SEB banka. That will be the requirement for the monies deposited in the contractual account by the buyer to be released to the seller.
• The buyer will settle his indebtedness only when SEB banka has received documents confirming the deal. The seller will receive the proceeds only when the transaction will have been concluded in fact.
• During the effective term of the contract neither the buyer nor seller can remove the deposited amount from the account on his own.
• If, during the contract term, the deal has not been concluded (the documentation confirming its execution has not been submitted to SEB banka), then after the expiration date, the money is returned to the buyer.
• If, while the contract is in effect, the seller has submitted to SEB banka documents confirming the execution of the transaction, then, after the expiration date, the buyer cannot withdraw the money from the Business account on his own.