National Bank initiates a new wave of banks' release from printing. On the website of the agency, a draft resolution was published, according to which banks will be exempted from the requirement to stamp the accompanying letters to pay for collection on registered checks of legal entities. Do not need to put a seal on the signature on the back of the check. The seals on bills issued on behalf of individuals are abolished, as well as payment orders in foreign currency. Such payments, as well as requests for the purchase of hard currency can be certified only by signatures of authorized persons, if they were issued in a special period. Seals do not need to certify the notification form on the beginning of the issue of electronic money, as well as an application for harmonizing the rules of the electronic money system. Also, the National Bank introduced a new type of bank account - conditional escrow storage. For these purposes, the NBU introduced the concept of an escrow account and obliged banks to comply with the requirements of Article 72-1 of the Civil Code (the management of the property of the person over whom custody is established) to the Regulation on the Procedure for the Use by banks of Documents for Transfer, Forcible Withdrawal and Arrest of Funds in Foreign Currencies. The escrow account is inherently a "temporary" account - before the terms of the parties to the transaction are fulfilled - the storage of money, documents or property.

Often, the instrument is used in conducting trading operations and is a kind of guarantee for a safe transaction. For example, in the case of the purchase of real estate, the bank stores on the escrow account the buyer's funds until all the terms of the transaction are fulfilled. If the agreed conditions are met, the money is sent to the seller's account. Otherwise, the escrow agent returns them to the buyer.

Original article: The National Bank will release banks from seals and allow to open escrow accounts.