escrow agent

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Escrow Agent

A third party who agrees to hold funds or assets in escrow. The escrow agent provides this service to two parties in a transaction until certain conditions are filled. The escrow agent holds the assets until the transaction is finalized and then gives them to the appropriate party. See also: Bulk sales escrow.

Escrow agent.

An escrow agent is the person or group that holds certain of your assets in an escrow account while you negotiate the final terms of a contract.

For example, if you are buying a home, the escrow agent would hold the down payment you make when your offer is accepted until the purchase is finalized.

escrow agent

A person or firm who agrees to hold funds for others and disburse them according to lawful instructions.

References in periodicals archive ?
Following the announcement of the real estate law number (3) of 2015 in the capital, Abu Dhabi Commercial Bank (ADCB) has obtained the first escrow agent registration certificate from the Department of Municipal Affairs (DMA), upon signing the agreement with the governing body.
People like to hold service providers accountable, according to Frank Palermo, Underwriting Manager of XL Catlins Commercial Errors & Omissions (E&O) business in North America, If there is any question about the services they provide, title and escrow agents, notaries and others should have strong professional liability protection and guidance to help defend their work.
clergy, collection agencies, consultants/management, consultants/other, employee leasing companies, employment agencies, escrow agents, florists, funeral directors, health club operators, information technology professionals, interior decorators/designers, media professionals (publishers, broadcasters, etc.
Ticor Title Insurance Company, this duty of loyalty translates into the duty of an escrow agent to communicate knowledge of material facts that he or she learned throughout the course of the agent's relationship to the parties.
Without careful attention to these details, licensees may find that even though they have taken the precaution of establishing an escrow account, they won't have the leverage to request actions by either the escrow agent or the vendor that would protect their investment.
The escrow agent holds the source code according to the terms and conditions set out in a tripartite, escrow agreement between the agent, owner and the software user.
When a buyer agrees to purchase a vehicle found online, he or she is directed by the seller to send money to a phony escrow agent, and is promised that the cash will be held until the vehicle is delivered.
Now, through our new underwriting agreement, title agents, escrow agents, notaries and others can now receive the quality professional liability protection, underwriting expertise and claims defense on which we ve both built our market reputations.
However, many services, including updating the escrow deposit, are offered by professional escrow agents as a way of improving the chances that the escrow will protect the organization in need.
It would allow the general export of software encryption products with unclassified algorithms provided the products meet two criteria: (1) the key size is no more than sixty-four-bit keys and (2) there is an acceptable key escrow mechanism, including the use of approved key escrow agents.
1 million were sent out and more than 16,000 owners and escrow agents have responded so far.