Arvut bankait
A bank guarantee securing the buyer's payments under the Sale Law, 1974.
The Sale (Apartments) Law, 1974, requires the developer to secure buyers' money, typically with an arvut bankait issued as you pay. Lawyers also talk about a 7% security framework around that protection. If the contract substitutes a promissory note, insurance, or a pledge of land, that is a different risk. Your lawyer names the instrument in a letter you keep. It is not the same thing as the developer's construction loan from the accompanying bank.
Where this comes up
Pages on this site that use the term in context.
- The Questions To Ask Before You Buy Off Plan Here
Israeli presale law gives buyers mandatory protections, but only if you verify them before you sign. A diligence checklist grounded in the Sale Law and the Sde Dov project registry.