Escrow

RECENT NEWS
MarketWatch  Jun 26  Comment 
Shares of Visa Inc. are up 0.7% in Tuesday morning trading after the company said it plans to deposit $600 million in its litigation escrow account, which has "the same effect on earnings per share as repurchasing the Company's class A common...
Reuters  Jun 19  Comment 
ZTE Corp and the U.S. government are still working on an escrow agreement that must be completed and funded with $400 million before a ban on the Chinese company can be lifted, a U.S. official told Reuters on Tuesday.
The Hindu Business Line  Mar 15  Comment 
Fate of huge corpus of funds deposited by around 250 entities remains uncertain
The Hindu Business Line  Jan 29  Comment 
In a game of cricket, the umpire plays a crucial role; his presence ensures that there is a clear, fair game. An escrow account performs a similar function for a trade and is usually handled by banks...
Insurance Journal  Nov 23  Comment 
A Miami man has been arrested for alleged unlicensed insurance activity that resulted in the theft of at least $48,507 in escrow payments from 10 South Florida homeowners. The Florida Department of Financial Services’ (DFS) Division of...




 
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It is a financial instrument held by a third party on behalf of the other two parties in a transaction. The funds are held by the escrow service until it receives the appropriate written or oral instructions or until obligations have been fulfilled. Securities, funds and other assets can be held in escrow.

An escrow account can be used in the sale of a house, for example. If there are conditions to the sale, such as the passing of an inspection, the buyer and seller may agree to use escrow. In this case, the buyer of the property will deposit the payment amount for the house in an escrow account held by a third party. This assures the seller - in the process of allowing the house to be inspected - that the buyer is capable of making payment. Once all of the conditions to the sale are satisfied, the escrow transfers the payment to the seller, and title is transferred to the buyer.

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