Payouts
Escrow releases on acceptance. Withholding is computed and certified, the remittance file is generated, you choose where the money lands.
Release: milestone 1, your share
Your share of M1BDT 2,24,000
Withholding 20%−44,800
Nongor 4%−8,960
Escrow bank−700
Net releasedBDT 1,69,540
Withholding certificate issued 23 Sep. Remittance file accepted by the bank first time. Today: bank checks the file by hand, 2 to 4 days
History
| Date | Contract | Gross | WHT | Net | Landed | Days |
|---|---|---|---|---|---|---|
| 22 Sep | Educo LIFT · M1 | 2,24,000 | 44,800 | 1,69,540 | Toronto · CAD 1,924 | 6 |
| 04 Aug | Business analysis · full | 9,00,000 | 1,80,000 | 6,83,300 | Toronto · CAD 7,796 | 5 |
Money flow
Guarantee facility
Tender and performance guarantees issued by Partner Bank A against cash in your escrow, 0.5% per quarter, no separate collateral.