Common use cases
- Construction and infrastructure projects
- International trade transactions
- Joint venture agreements
- Government and institutional contracts
Structure
A dedicated escrow account is opened under ICBANK supervision. Funds are deposited by one or more parties and release conditions are defined in a binding escrow agreement.
Documentation
- Full KYC for all involved parties
- Underlying contract or agreement
- Escrow instructions and release conditions
- Supporting documentation for disbursement events
Nature of service
The program document states that ICBANK acts as a neutral escrow agent and does not assume responsibility for performance of the contractual obligations between the parties.
Controlled funds require controlled rules
An escrow structure is effective when the release conditions are unambiguous. Parties should understand who deposits funds, who benefits, which milestones or documents trigger release and what happens if the underlying transaction does not proceed as planned.
GIGT helps clients prepare the commercial facts and documentation required for an escrow request. ICBANK, as the banking party, retains control over account opening, monitoring, validation and release in accordance with the final agreement.
What GIGT adds to the process
As the authorized agency and consulting channel, GIGT helps the client clarify the request, organize documents, understand the relevant program structure and maintain disciplined communication through the application and follow-up process. Final banking approval, contractual terms, compliance decisions and execution remain with ICBANK.
Corporate, KYC and transaction information should be complete, internally consistent and current before escalation.
Applicants should read the official program PDF and later bank documents together rather than relying on a website summary alone.