The PJSCB ORIENT FINANS offers secure payments in real estate purchase and sale transactions using a safe deposit box. Within the framework of leasing safe deposit boxes, the PJSCB ORIENT FINANS offers the ‘Garant’ Service - for individuals in settlement of real estate transactions, i.e. settlement using a safe deposit boxes. Solution to the problem of cash transfer, when selling real estate, lies in reservation of the amount of money until the real estate purchase and sale agreement has been concluded in the presence of a notary public. This is possible when the parties to the agreement use a rented safe deposit box. This payment method assumes that prior to the signing of the purchase and sale agreement, the Buyer, in the presence of the Seller (collectively – the ‘Tenants’), puts the cash to be transferred to the Seller into a safe deposit box rented from the Bank on special terms. In this case, the Buyer receives the keys to the safe deposit box from the Bank. From the moment of signing of the purchase and sale agreement before the notary public, the right of access/ownership of the safe deposit box shall be conveyed to the Seller (the Buyer will hand over the keys to the safe deposit box). As a rule, the term of lease of a safe deposit box for such transactions is one month. The Seller may access the deposit box to take the money for the sold real estate only if he/she is in a possession of the notarized real estate (apartment/detached house) purchase and sale agreement and the keys to the safe deposit box.
The Bank enters into safe deposit box lease agreements with special access conditions. The agreement will provide that safe deposit boxes may be accessed in the simultaneous presence of the two parties (the Buyer and the Seller) only, or if either of the Parties produces relevant documents (the Seller must produce the notarized real estate (apartment/detached house) purchase and sale agreement and the keys to the SDB).
This payment system has been used in many countries worldwide for a long time. Now, there is no need to have large sums of money on you. The cash can be received in the Bank, where a customer will check the correctness of the amount and the genuineness and paying capacity of the banknotes in a quiet surrounding. Customer service related to renting safe deposit boxes will be carried out in priority. In addition to leasing safe deposit boxes, the Bank will render Tenants a free service involving re-counting banknotes, identifying their dilapidation and genuineness, etc.