Escrow and payments

Version 1 · partner banks: BRAC Bank, City Bank (as agreements are signed)

Money never touches Nongor. It goes from the buyer to an account at a partner bank, sits there until a milestone is accepted, then goes to the contractor with tax withheld and a certificate issued.

How it moves

1. The buyer funds the milestone by wire to the escrow or retention account named in the deal room. 2. The bank confirms receipt; the deal room shows Funded. 3. The contractor delivers; the buyer accepts within 5 days. 4. Nongor sends a release instruction. 5. The bank deducts withholding tax at the rate the law sets for the contractor's structure, deducts the platform fee, and remits the balance to the contractor's chosen account. 6. The withholding certificate goes to the buyer within 24 hours.

Withholding rates the bank applies

Contractor	Rate	Treaty
Non-resident individual, no Bangladeshi entity	20%	Reduced with an NBR treaty certificate; 44 countries, Australia has none
Non-resident company	10%	As above
Bangladeshi company	7.5%, creditable	n/a
Resident individual (expert)	15%	n/a

Sending money home

Contractors abroad choose Wise, Payoneer or a bank wire in the deal room; the bank remits under Bangladesh Bank's rules for service exports, including export retention quota where it applies. PayPal is not available in Bangladesh. Rates are the bank's rate of the day; Nongor shows the quote before you confirm.

Until the rail supports platform escrow

Bangladesh Bank has not yet issued a platform escrow guideline. Until it does, escrow is a bank retention account under a tripartite letter signed by the buyer, the contractor and the bank. The effect for you is the same; the paperwork is one page longer.